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Big news from the Reconcile team and more tech-financial services partnerships
Hey everyone! Wishing you a great start to your day! In light of what should be a busy week for all of us as we cram before a much-needed long weekend ahead, we’ve kept this week’s newsletter short and sweet.
We’re starting with a major announcement and a few important asks:
We were approved for Testflight access last week! Therefore, we will start onboarding more beta users off our waitlist starting from today. I will personally help onboard you through your first interaction, ensuring you get a complete overview of the product we’re building for you. Stay tuned!
We’re looking for a conversational designer to help us refine our Siri experience. We would love an intro to anyone that’s worked on similar voice-first apps and is located in the US, preferably on the east coast.
We’re looking for a content intern to help us scale our newsletter. If you know recent college grads looking for a summer gig, shoot them our way!
Another week, another example of tech entering the financial services space. This week Google announced that it would begin offering loans through Google Pay to small business owners in India. India has approximately 60 million small and micro-sized businesses, which means this is potentially a huge opportunity for Google.
Google Pay has about 75 million transacting users in India, more than any of its competitors.
In other news, Uber announced that it would deprioritize its internal financial services projects. Instead, it will pursue a partnership-first approach to avoid wasting resources on building offerings from scratch. This follows the strategy outlined in last week’s newsletter: tech firms working with longstanding financial institutions to deploy unique business models. As Will Quist, Partner at Slow Ventures, put it:
I am not sure that this is a sign that consumer-facing companies are abandoning the push into financial services. If anything, I think it highlights that very few companies need to hire internal teams and build their own tools and products. Instead, they can leverage others building best in class solutions.
Here’s one last thought to close out this week’s “everything will become a fintech” theme:
We saw a credit card for influencers called Karat launch this week. With financial services becoming even more specialized for specific niches, I wouldn’t be surprised to see a gaming-specific credit card spring up in the next few years. I’m sure a lot of Gen Z’ers would love a card that gives them special perks in Fortnite.
Thanks for reading!
Jaimin Desai - CEO & Co-Founder of Reconcile
*P.S. If you have any thoughts on our content, please leave a comment or email me at email@example.com!