Banks will start aggressively targeting fintechs in wealth management - Business Insider

📆 2/22/2020 10:02 AM
📰 BusinessInsider

⏱ Reading Time:
36 sec. here
2 min. at publisher
📊 Quality Score:
News: 18%
Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

Insiders say Morgan Stanley's $13 billion E-Trade deal will kick off a buying spree for wealth-management fintechs. Here's why banks are ready to 'open up their pocketbooks' and what it could mean for startup valuations.

has also pushed traditional players to consider new ways of attracting and selling to customers.

In addition to insurers, Edison Partners' Lee said big-tech companies such as Amazon or Google could also be a potential landing spot for fintechs. LendingClub's recent plans to buy Radius Bank "I think you will see an acceleration of multi-product capabilities happening within the fintech space," Casella said. "Some of that may come from acquisition. Some of that may come from partnership."

Morgan Stanley's planned acquisition of E-Trade shows high price tags aren't going to scare banks away. However, the discount brokerage is far more established than any of the new-age fintechs. E-Trade has nearly a forty-year history, including over 20 as a public company.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The fintech industry soars as early stage startups miss out on funding - Business InsiderEarly stage fintechs missed out on funding last year, but this suggests that the industry is maturing as fintech becomes a truly global movement.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Warren buys ad in GOP billionaire's newspaper to taunt him about her wealth tax - Business InsiderElizabeth Warren bought a full-page ad in a GOP billionaire's newspaper so she could taunt him about the $2.3 billion he'd pay under year one of her wealth tax Queen Lol he knows she has no chance of winning. Probably charged her 50x more aswell. Smart bussiness. Warren got played and doesnt even know it😂😂 She will never be president so opinion does not matter.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Dispensed Business Insider weekly healthcare newsletter February 21 - Business InsiderDispensed: Big Pharma's plans to compete with buzzy startups, Sanofi's entrance to the coronavirus vaccine race, and a Medicare Advantage pitch deck
Source: BusinessInsider - 🏆 729. / 51 Read more »