March 2020 - Vertical Neobanks

Brief: Banks are increasingly replaceable. "Embedded finance" makes it easy to deliver financial services in context. Over time, that may result in money gravitating towards influencer-run financial institutions. This could have significant ramifications for how society manages its surplus.

What’s notably missing from the existing subscription bundle is financial services. As Neo Banks look to compete with incumbents they have talked about their lower cost structure, and cheaper customer acquisition cost, leading to shorter payback period.