Capify Newsletter: Edition 5

CAPIFY NEWSLETTER: EDITION 5

Hi All,It’s beginning to look a lot like…ugh, can’t the holiday break just get here already? We know, we know. You’re counting down the days until you can mail it in ‘till 2016. You’re almost there and the light’s at the end of the tunnel. But on your way to the end, take a break and read our newsletter in the meantime.First: Get Smart with Capify

TechCrunch: While consumers buy a ton of stuff during the holidays, the same can’t be said for businesses. Surprisingly, small to medium-sized businesses don’t spend the way we do. In fact, it’s actually the opposite.

Huffington Post: Only 14% of Americans with a smartphone plans to make one purchase using mobile payments during the holiday season. Huh. After all the hubbub about people using their phones in the checkout line, doesn’t seem like it’s really catching on. So what’s holding mobile payments back? Oh just the normal stuff. Generational gaps, security and privacy concerns, etc.

Digital Transactions: Venmo—the gospel of payments for twenty-somethings—may be coming to a business near you. While Venmo is exclusively a person-to-person service, PayPal—Venmo’s parent company—has announced that users will be able to use Venmo to purchase products at businesses.

HOLD UP!

Allow us to embarrass ourselves for your entertainmentIf there’s one thing you can’t miss on this newsletter, it’s our holiday video. Do yourself a favor and check it out. Happy Holidays!


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Partner with usCome on, it’s the holidays. Show some gratitude. Apply or email David Goldberg to partner with Capify. Apply or email David Goldberg to learn more.

What’s the Big Idea?


	In 1994, Bill Gates made the now-famous bold proclamation that “Banks are dinosaurs.”21 years later, Gates’ words seem more prescient than ever. As we finish off 2015 and look ahead to 2016, one thing remains clear: Banks are continuing to lose ground to smaller, alternative lending platforms. With personal relationships between banks and customers not nearly as important as they once were, customers—most noticeably millennials—are opting for what’s fastest and most convenient.Overall, small business loans from banks are down 38% from 2006. But while banks may be clinging onto their old school methods, does it mean they’ll actually become extinct? Not so fast.

AN INTERESTING SITUATION


	A former CEO of Barclays (ever heard of it?), Antony Jenkins, made headlines by saying that the financial technology industry is ready for its “Uber moment.” Noting that technology is an “unstoppable force,” Jenkins predicts that banks will “struggle to implement new technologies at the same pace as their new rivals” while acknowledging the inevitability of banks being forced into automating their processes.SO WHAT?When a former CEO of one of the largest financial services corporations in the world says a lot of crazy stuff about banks being overtaken by financial technology companies, it’s kinda worth mentioning.Basically: If banks don’t start playing catch up, it’s gonna be struggle city in the banking sector.We predict: Look, banks WILL catch up. It’s really not a matter of “if” banks start automating their processes, but “when.” So stay on the lookout for banks getting more fintech-y and once this happens, the marketplace will become more competitive than ever. So yeah…there won’t be any bank runs like from “It’s A Wonderful Life.” Somewhere, George Bailey rejoices.

IN OTHER NEWS


	TechCrunch: Worst Year for Tech IPOs since 2009 New York Times: Seattle Considers Measure to Let Uber and Lyft Drivers Unionize Forbes: Is Technology Ruining Your Experience at Work? – The Capify Team This newsletter is curated by the team at Capify. Like what you see? Think we should be doing something different? Send us an email!

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