Investor at @gilgameshvc. Former fintech co-founder (Petal), investment banker (Lazard) and corporate lawyer (Willkie). Based in New York City.
Mar 4, 2021 • 12 tweets • 6 min read
1/ There are 6k banks in the US. Most will cease to exist in the next decade, as NeoBanks drive consolidation, driven by increasingly household names like Chime and Square and even Walmart, who is again mulling a leap into banking. This is a THREAD. pymnts.com/walmart/2021/w…2/ Why so many banks (Canada has 88, Japan has 200, the US has 6000)? Partially regulation (lots of regulators), partially local markets (pre-web), and partially inherent conservatism. But many of those are about to get trampled by tech-enabled brands. forbes.com/sites/ronshevl…
Feb 10, 2021 • 11 tweets • 7 min read
1/ #OpenBanking has been jumping from continent to continent for the last decade with various levels of success. But it’s on the brink of breakthrough in the US and elsewhere for technological and regulatory reasons. This THREAD attempts to show how and why.
2/ Open banking means open (and secure) access to bank APIs for customers to view account data, make transfers or do other things via applications, which usually were done by the banks themselves. This is a good primer from @NicoBenady
