4 charts on finance app growth

10-Q, Member Exclusive

The rise and stall of technological innovation among Wall Street banks

• Once cautious and threatened by GenAI when OpenAI's ChatGPT hit the scene in 2022, banks are now building or collaborating on this technology, seeking to leverage its capabilities to improve their operational efficiency.
• JPMorgan is one of the traditional incumbent banks showing signs of progress and leading the way in effective tech transformation in emerging areas.

Designing new products, Member Exclusive

How to build a fintech: Why Brightfin’s Christine Devane is Cofounder, CEO and Tiktok creator at once

• Budgeting apps are hard to make, but one fintech is out to change how people think about personal finance management by changing the design paradigm around the behavior.
• As the founder of a bootstrapped fintech, Christine Devane details how her Graduate degree spurred her on to build a Gen Z friendly budgeting app and how the current VC climate and socio economic conditions impacted their development process.

10-Q, Member Exclusive

How MoneyLion’s first CRO plans to ignite a revenue boost

• MoneyLion hired its first Chief Revenue Officer. What factors influenced MoneyLion's decision to recruit a Chief Revenue Officer for the first time?
• What will be Jon Kaplan’s primary focus areas as the new CRO of MoneyLion?

10-Q, Member Exclusive

JPM’s solid Q2 performance is followed by modifications to its card transaction policy

• JPM's second-quarter earnings report from the Friday before last was followed by new changes to its card payment policy last week.
• This strategy may be driven by the bank’s expectation of upcoming credit losses, aiming to reduce defaults by guiding customers toward its own financial products.

10-Q, Member Exclusive

The end of free banking? 

• JPM's Marianne Lake is cautioning that the bank may start charging for services that are currently free, such as checking accounts and wealth management tools.
• Many interpret the announcement as a strategic power play at the intersection of politics and economics, effectively shifting the burden onto consumers.