This article speaks to changes that may affect some of the fintech companies referenced on this board - notably UPST which I own. The gist is that sellers use software to provide their own financial services bypassing traditional institutions such as banks. Another effect may be that retailers no longer share customer demographics with data aggregators or financial institutions. Two possible effects that occur to me are that more efficient algorithms such as UPST’s may give a leg up to traditional financial institutions to stave off these threats, or might give a leapfrog advantage to the retailers’ own startup financial services.
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