Today, we announced that we are calling off @Plaid's pending acquisition by Visa.

While not what we planned a year ago, I'm confident that an independent path is best for our customers, team, and for the financial services ecosystem.
As the world changed in the past year, so too did fintech and Plaid. Consumers turned to digital financial tools in droves. As we looked at the opportunity ahead, it was clear that waiting another year or more mired in regulatory uncertainty was not in our best interests.
The next few years will be exciting, interesting, and challenging. I'm so excited for what's next!

We've only just begun to bring our mission to the world!
A huge thank you to all the @Plaid team members. Your ability to stay focused and execute over the past year has been incredibly impressive.

I know that this may not be the outcome we planned, but I'm excited to go create an even better one with all of you!

♥️ ♥️ ♥️
More info here:…

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More from @zachperret

5 Apr 20
PPP applications this week will be chaos. Hugely needed, and will save many small businesses.

A few details worth paying attention to:
Lender incentives:

Lenders are paid a one-time fee of up to 5% of the value of the loan for every one they make. The loans are 1% interest, guaranteed by the gov’t, and they can be sold on the secondary market. Lenders are very incentivized to make these loans.
Agent incentives.

Almost anyone who helps a borrower prepare their application is eligible to be paid up to 1% of the loan value as an “agent.”
Read 7 tweets
22 Jan 20
The last few weeks have been a bit busy, so my contribution to the prediction party is late.

Without further ado: Fintech Predictions for 2020

The Great Rebundling has begun. Consumer fintech apps are all building towards a full product suite including checking, savings, investing, and cards. Lending solutions are close behind. Expect this to continue. (2/10)
Demographics, not geographics. Historically banks acquired customers based on branch geography. Now fintech acquires customers via referrals and ads targeted at specific demographics. Expect the Rebundling to focus around the needs of these specific demographics. (3/10)
Read 10 tweets

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