Posts in credit unions/small banks
7,000 bank branches shut down and 425,000 jobs lost -- melting Banking into a glass half full
7,000 bank branches shut down and 425,000 jobs lost -- melting Banking into a glass half full

Let's make a collective decision to see the glass as half-full. While physical banking (7,000 US branches gone during 2012-2017) and employment in the sector (425,000 jobs lost since 2013) has been contracting, digital commerce, banking, and investment management have been growing. Even DFA is finally giving in and lowering fees on their $600 billion institutional mutual fund family. Of course, Fintech has been a slow and gradual transformation, not a rapid disruption. We can make a choice to bemoan the loss of the past, or a choice to express an excitement for the future and participate in its making. Which side are you on?

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digital transformation, philosophy, eCommerce, credit unions/small banks, asset managementLex SokolinMasterCard, Ant Financial, Bitcoin, M-Pesa, Morgan Stanley, Deutsche Bank, Dimensional Fund Advisors
Double Standards -- Fortnite game praised for black-out, neobank Chime upsets 5 million customers
Double Standards -- Fortnite game praised for black-out, neobank Chime upsets 5 million customers

Let’s look at the recent Fortnite blackout and compare it to neobank Chime's embarassing down time, as well as explore the business model implication of what it means to be the social square where people hang out. Does Finance have such an equivalent? Maybe it is Venmo, crypto Twitter, or the credit unions. We also look at statistics behind influencer marketing, and how influencers have usurped the position of music labels. Perhaps banks should get ahead of this game too.

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metaverse, neobank, credit unions/small banks, marketing, music industry, social & communityLex SokolinFortnite, Twitch, Chime, Venmo, Galileo, YouTube, Instagram