Mary Wisniewski’s Post

The cost of banking debate is an intriguing one because it inevitably ties to innovation, too. Will more banks start charging for checking accounts if banking regulation passes that caps their fees? In a WSJ story published today, Chase said it is planning to start charging customers for what have been free services, including checking accounts. If a giant bank starts charging more fees, that certainly would give the welcome sign for more banks to do so. And yet, there are all kinds of no fee accounts -- what would make a consumer pay for something they've gotten for free for a long time UNLESS it came with something compelling. As the story later details: "The highly competitive environment for retail deposits means that banks might wind up needing to keep services free, no matter what the final rules end up looking like." Also, I wonder how Chase's media revenue pursuits are going... Tony DeSanctis Jim Bruene Jennifer Tescher

🌴 Happy almost end of June. What a wild month it's been in fintech land. Here are some of the things catching my eye: * Money apps trying to build community within their designs. [Aside: I love the idea of bonding over, say, pooled savings or credit tips] *The case for the pause on a payment *Wells Fargo and Bilt partnership $ path: It's complicated Did I miss any of your fav things? Or messy things? Drop me a line! #digitalbanking | #financialhealth| #editorsnote

Life in the hacker house and then this!! What a joy to speak w/ Michael Broughton on Altro's beginnings, opportunities in the credit scoring system and something that any fintech or bank app might pursue -- fostering community within their apps. I keep thinking about this clip, though. What it must feel like to have such interest in a product you're building when you're working on mattresses more or less. Catch the full Money isn't Everything episode on whatever pod platform you wish: https://lnkd.in/guQ-Zs6i #fintech #personalfinance

I spy something interesting: The pause for a bank transfer in a world of ever-more complex fraud. The neobank for the 62+ -- Charlie -- launched Speedbump, which holds $ transfers for 6 hrs when they involve a new payee and phone number. "During that time we notify our customer about the fact that a payment is scheduled and because it’s a new number, it’s going to be released in six hours." The idea is to get in front of a potential scam by buying someone a little time. The feature comes at the time when the entire plot of the new movie, Thelma, explores a financial scam of an older woman. Awareness on this issue is only growing! Theodora Lau | Tony DeSanctis | John Meyer Fast Company Q&A with the fintech company here: https://lnkd.in/gYH7xDHF

Thanks for having me on mogul Live! It was lots fun to reflect on unexpected career paths and how fintech has developed over the years for better and for worse.

It happens: Personal finance things trend on social media. Case in point: #GirlMath (for example, anything less than $5= free). What a delight to chat about this spending trend with payments expert, Sophia Goldberg, CEO and co-founder of Ansa and author of "The Field Guide to Global Payments." We get into what Girl Math means for brands, the psychology of payments, what's broken with gift cards and why I have hang ups when loading my laundry app with more money. Catch the full episode on the pod platform of your choice: https://lnkd.in/dj3jwp-A #payments #digitalwallets #fintech Tony DeSanctis | Christopher Fleischer | Wade Arnold | Christina MacDonald Sikand | Liz Hund

Worth reading: this note from the OCC that argues for banks to support customers' financial health for numerous reasons, including: ➡ Potentially leads to better bank products ➡ Potentially helps create more profitable customers and improves customer retention ➡ The one I find most interesting: Improvements in financial health could also support improvements in mental wellbeing for individuals and their communities." (Efi Pylarinou, we have more material to unpack.) Read the note here (it's part of a presentation at #Emerge2024 conference): https://lnkd.in/gWBAyb_M #finhealth #banking

Happy last day of May. Here's what caught my attention in #fintech this month: 💸 All kinds of #BNPL stuff, including why these payments don't usually factor into credit scores 🎮 The remote control concept coming into mobile banking apps for one of the most annoying payments: recurring ones that you forget about 🕺 Some flavorful guests on the Money isn't Everything pod Something else catch your fancy? Drop me a note.

What a treat to talk with Eric Siegel, author of "The AI Playbook," about #AI and practical things business leaders need to do w/ the tech, i.e. "come down to earth." Lots for fintech types to unpack here, including: that pesky tension between customer service and fraud, working backward just as you might on a screenplay, and not getting carried away with fanciful thoughts about AI. My fav part of our convo? Eric's backstory about his music video and how to shut down a cocktail party w/ data talk. Listen to the latest Money isn't Everything episode on the pod platform of your choice: https://lnkd.in/guQ-Zs6i Barb MacLean Theodora Lau John Meyer Sam Kilmer Tony DeSanctis Al Dominick

Developing mobile apps that help improve financial outcomes is difficult at best (paging all the failed PFM attempts). Among the many obstacles is an app just spitting out negative news -- low balance, lots of debt... you name it. Not the kind of thing that makes one want to login to an app. Especially right now with credit card delinquencies on the rise. What a treat it was to speak with Frida Leibowitz 🇮🇱 about what she's building at Debbie -- a startup flipping the business model on debt. Full episode drops tomorrow. It's a vibrant one. Find Money isn't Everything: ➡ on Apple ➡ on Spotify ➡ on Cornerstone Advisors Dropping the link to subscribe in the comments below. This is a show exploring the ways #fintechs, banks and credit unions are doing more than just offering people a place to park cash. It's a good time, too. I give it my energy all. ⚡ Benjamin Maxim | Theodora Lau | Efi Pylarinou | Glenn Grossman