Open Banking and payments competition
Why the banks really hate fintechs that allow businesses to learn your account number easily.| Bits about Money
Why the banks really hate fintechs that allow businesses to learn your account number easily.| Bits about Money
Ever wondered what happens if you try to take $50,000 in cash out of a bank? Answer: a year of investigative journalism.| Bits about Money
Deposit insurance is the backstop that guarantees the money-ness of deposits. Here's how it works under the covers.| Bits about Money
There are a few different mechanisms underpinning commonly used stablecoins. Some of them may not perish in a fire.| Bits about Money
How and why small, local banks power the fintech apps you use.| Bits about Money
Ever wondered how bank branches work at a nuts-and-bolts level? Let's dig into the logic and economics of them.| Bits about Money
Bank transfers have exploded as a payment method in India and may become more common in much of the world.| Bits about Money
Chicago and Bally's have teamed up in an investment offering.| Bits about Money
Crypto advocates kicked off a recent, somewhat politicized, discussion of debanking. Strap in for scintillating banking compliance trivia.| Bits about Money
Credit cards make money through net interest, interchange, fees, and marketing contributions.| Bits about Money
Debit cards are a core piece of financial infrastructure and drive much of the innovation happening in fintech.| Bits about Money
Recommendations of works of fiction of interest to financial practitioners or enthusiasts.| Bits about Money
Regulation-induced monocultures meet unfortunate but explicable engineering decisions.| Bits about Money
Title insurance is grossly overpriced relative to actual risks involved. Why is that?| Bits about Money
Ever transferred assets between brokerages? Impressive, terrifying machinations happened in the background. No cats were harmed.| Bits about Money
How digital wallets work, and how payment costs drive a lot of product decisions inside and around them.| Bits about Money
Credit card rewards are mostly funded out of interchange, a fee paid by businesses to accept cards.| Bits about Money
Ever wondered about what happens when banks are closed or why some apps have operating hours? It's fascinating.| Bits about Money
Check cashing, as a business, is a poorly understood "alternative" financial service.| Bits about Money
Payroll processors exist to provide financial infrastructure and because political economy is complicated.| Bits about Money
A lot of more modern financial infrastructure follows the paths blazed by checks, at least in the U.S.| Bits about Money
Jurisdictional gamesmanship is a common strategy for crypto businesses. Here is how it worked out for Binance and its CEO. Spoiler: poorly.| Bits about Money
Many observe that banks seem to be blowing up due to predictable consequences of rising interest rates. How did we get here?| Bits about Money
The structural reasons why banks sometimes behave bizarrely in interactions with customers, like forgetting things which customers tell them.| Bits about Money
A review of Zeke Faux's Number Go Up, with some bonus commentary on financial journalism and Tether specifically.| Bits about Money
Credit card debt is the waste stream of consumer finance. The debt collection industry ends up being sordid, for complex structural and microeconomic reasons.| Bits about Money
A brief retrospective on an attractive product First Republic used to offer, and a wider discourse on the banking crisis.| Bits about Money
In the wake of the recent banking crisis, there is some attention to deposit insurance limits. Some products increase them; here is how.| Bits about Money
We may be in the early stages of a banking crisis: why, what we're doing to avoid it, and what we may not get about it.| Bits about Money
A brief overview of what money laundering is, what financial institutions do about it, and why.| Bits about Money
Card networks are legacy systems. Some bugs have persisted for decades, surprisingly, but they can be fixed. Stripe provides examples.| Bits about Money
Credit cards have been in use for almost 75 years. Some long-ago decisions still cause consequences in the present day. But change is possible.| Bits about Money
Leverage is actually reasonably easy to understand, both in the math and in the implications for financial firms.| Bits about Money
Community access to banking is downstream of siting decisions in commercial real estate, in fascinating detail.| Bits about Money
Counterintuitively, businesses, customers, and society prefer having fraud to what they'd need to do to not have it.| Bits about Money
Bits about Money's Early Adopter discount ends on January 31st, 2023.| Bits about Money
Know Your Customer policies at financial institutions have more nuance than you'd expect.| Bits about Money
ATMs are connected to banks by networks which operate little-understood payment rails.| Bits about Money
