Fintech predictions for 2023!
Open banking will become a reality in the US. Through the CFPB rulemaking on Dodd Frank 1033, we should expect that open banking finally gets solidified in the US 2023. Lots of work before this happens from banks, fintechs, and regulators.
Jan 13, 2021 • 5 tweets • 2 min read
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.
Apr 5, 2020 • 7 tweets • 2 min read
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.
Jan 22, 2020 • 10 tweets • 2 min read
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
(1/10)
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)
