| The sheer number of startup players moving into banking services is staggering," writes my Crunchbase News friends in a piece titled "Why Is Every Startup A Bank These Days." I've been asking myself the same question this year, as financial services business like Brex, Chime, Robinhood, Wealthfront, Betterment and more raise big rounds to build upstart digital banks. North of $13 billion venture capital dollars have been invested in U.S. fintech companies so far in 2019, up from $12 billion invested in 2018. This week, one of the largest companies to ever emerge from the Silicon Valley tech ecosystem, Uber, introduced its team focused on developing new financial products and technologies. In a vacuum, a multibillion-dollar public company with more than 22,000 employees launching one new team is not big news. Considering investment and innovation in fintech this year, Uber's now well-documented struggles to reach profitability and the company's hiring efforts in New York, a hotbed for financial aficionados, the "Uber Money" team could indicate much larger fintech ambitions for the ride-hailing giant. As it stands, the Uber Money team will be focused on developing real-time earnings for drivers accessed through the Uber debit account and debit card, which will itself see new features, like 3% or more cash back on gas. Uber Wallet, a digital wallet where drivers can more easily track their earnings, will launch in the coming weeks too, writes Peter Hazlehurst, the head of Uber Money. This is hardly Uber's first major foray into financial services. The company's greatest feature has always been its frictionless payments capabilities that encourage riders and eaters to make purchases without thinking. Uber's even launched its own consumer credit card to get riders cash back on rides. It's no secret the company has larger goals in the fintech sphere, and with 100 million "monthly active platform consumers" via Uber, Uber Eats and more, a dedicated path toward new and better financial products may not only lead to happier, more loyal drivers but a company that's actually, one day, able to post a profit. Read more |
◂‹〖DownLoad〗 2020 Falling Full Movie Online released 2020. story: John Peterson lives with his partner Eric and their adopted daughter in ...
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