 WEEKEND ROUNDUP | |
| |
Chime hit the 5 million account milestone – but still has a ways to go US neobank Chime recently hit the 5 million account milestone, but these figures may not be communicating the full picture.
Accounts are not the same as customers — customers can open more than one account, and many likely do, as Chime clients who open a Spending Account are also prompted to open a Savings Account.
Additionally, Chime customers aren't using it as their primary accounts and much of the neobank's success has been with low- and medium-income consumers drawn by features like Chime's lack of fees and early wage access.
Business Insider Intelligence's Gregory Magana has the full story.
 | |
Business Insider Intelligence Daily is just a preview of Business Insider Intelligence.
Get started, risk-free today to unlock research reports, briefings, industry forecasts, exclusive data, and more. | | |
| |
| | | Stripe raised $250 million that it plans to use to expand internationally, add more product offerings, and improve its enterprise capabilities — all of these efforts could help it recruit larger clients. Read More → | | | | |
| | | Revolut is launching a spending card for children, linked to parents' Revolut accounts. This could be a good strategy for neobanks looking to upsell their product suites to the next generation. Read More → | | | | |
| | | HBO won the most 2019 Emmys out of all networks nominated, with 34 total wins. However, it could become harder for HBO to maintain that dominance as Netflix, Amazon, and Apple invest in high-quality original content for their platforms. Read More → | | | | |
| | | Monzo is suspending its premium service, Monzo Plus, due to negative user feedback, making identifying a sustainable business model imperative to reaching profitability. Read More → | | | | |
| | | Google's updated Android (Go edition) OS will boost its ability to encourage loyalty among manufacturers and entry-level smartphone users and, in turn, grow use of the internet and its software and services. Read More → | | | | |
| | | Amazon is piloting a virtual care platform, Amazon Care, with select Seattle employees — part of a growing trend of employers experimenting with digital health to shave down member costs. Read More → | | | | |
| | | American Express is adding a pay with bank option for all UK consumers — not just Amex cardholders — which could raise its profile in the UK and help it refine the offering before expanding it elsewhere. Read More → | | | | |
| | | Third-party developers now have more direct access to Siri, which could erode an advantage of Apple's services but will benefit the voice assistant in the long run. Read More → | | | | |
| | | YouTube signaled that some smaller creators will see their verification checkmarks disappear as it overhauls its verification standards. Previously, any account with over 100,000 subscribers could request to be verified – now verification rests on authenticity and prominence. Read More → | | | | |
| | | Amazon added a feature to the camera-equipped Echo Show device that enables it to visually identify consumer goods. Amazon designed the feature — aptly named "Show and Tell" — to help blind and low-vision users identify groceries. Read More → | | | | |
| |
| Did a friend forward you this newsletter? Get it daily by clicking here. | | |
| |
| | | Historically, the US banking industry has discussed financial inclusion solely in terms of corporate social responsibility (CSR) - but two forces have flipped the conversation from CSR to a genuine business opportunity. This report explores the business opportunity for incumbent banks looking to tap the growing opportunity presented by the financially underserved, highlights through case studies how innovative players are utilizing technology to capture share in this market, and outlines recommendations for how banks can enter the space as well. Learn More → | | | | |
| | | The aggregate potential cost savings for banks from AI applications is estimated at $447 billion by 2023, with the front and middle office accounting for $416 billion of that total. This report identifies the most meaningful AI applications across banks' front and middle offices, while also discussing the winning AI strategies used by financial institutions so far, and provides recommendations for how banks can best approach an AI-enabled digital transformation. Learn More → | | | | |
| | | The spread of 5G is pivotal for the connected world — its technical upgrades will supercharge adoption of transformative technologies and strengthen the value of old ones. 5G will serve as the backbone of the fourth industrial revolution, and the global pacesetter for the new standard could become the same for connected technologies. This report compiles 5G snapshots of the United States, South Korea, and China – with each providing an overview of the market's telecoms space and details on what is contributing to its development. Learn More → | | | | |
| |
| Do you already have Business Insider Intelligence access through your company? Check here. | | |
| |
Supply chain and logistics companies heavily rely on inefficient communications methods. |  | |
Banks are prioritizing cybersecurity, cloud, and API tech to stave off digital challengers. |  | |
Incumbents and startups' best chance of getting UK consumers to adopt open banking services is to team up. |  | |
| |
| Business Insider Intelligence Daily is a free newsletter highlighting topics the Business Insider Intelligence research team finds interesting. Published around 5pm ET Monday through Friday. | | |
| |
| You can gain access to everything Business Insider Intelligence produces - ALL of our extensive research reports, newsletters, and data - when you claim your Business Insider Intelligence PREMIUM pass. With this level of membership, you will gain immediate access to… | ALL Existing Reports | | Our research reports have taken thousands of hours to research, analyze and compile. With over 250+ reports in our archive there is something for everyone with immediate profit-driving idea potential. Packed with data, insight and analysis the research helps you understand your chosen subject area in fresh new ways. | Actionable New Reports | | You'll receive around 6 new reports each month on topics that matter to you, delivered electronically the instant they're finalized for as long as you're a subscriber. | Carefully Curated Newsletters | | With access to all 7 of our newsletters, you'll know about all the important developments that are impacting your company, your bottom line, and even your career. Our insightful news briefs give you the context around critical developments. | Timely Updates & An Online Research Center | | At least once a week, the Business Insider Intelligence team will send you thought-provoking "extra" content in the form of charts, graphs, and graphics, along with our analysis of what it means. | And A 14-Day Satisfaction Guarantee | | If you are not completely satisfied, you may cancel your PREMIUM pass before the end of your first 14-days and we will refund the full amount you've paid. | |
| |
 | | Copyright © 2019 Business Insider, Inc. All rights reserved. | |
| |
