Fintech News: October 7th, 2016

 

This Is What Millennials Actually Use Venmo For (Bloomberg)

The largest US banks are teaming up to build Zelle, their own Venmo-killer, but are they too late? This article looks into emoji usage on Venmo, and the stickiness and brand loyalty that the payments app has built with Millennials. The most popular emojs? Anything related to drinking, eating, traveling, and paying rent.

venmo-study-image-1

Source: LendEdu

When Will Fintech Regulation Grow Up? (American Banker)

Fintech Regulations have lagged behind the industry. Here’s what US regulators need to do to catch up to their peers in the UK, Singapore and Hong Kong.

Free Stock Trade App Robinhood Monetizes With $10/Month to Buy on Credit (TechCrunch)

Robinhood, the free-trade brokerage, has released a premium subscription plan, Robinhood Gold. For plans ranging from $10 to $50 a month, clients can trade during after-market hours and trade on varying levels of margin. This program’s success will pan out interestingly, as finance is one of few industries where subscription models have not taken off.

Scottrade: Who Will Acquire It? (Barron’s)

Scottrade revolutionized the discount brokerage when it introduced $7 trades in 1998, keeping the price steady ever since. Now, in the latest episode of online broker acquisitions: Scottrade is reportedly getting bought. Possible bidders include TD Ameritrade and Charles Schwab.

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