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Podcast: Fintech Insider Podcast by 11:FS
Episode: 697. Insights: Will social media banks ever take off?
Description:
Our expert host, Nicole Perry, is joined by some great guests to discuss the potential of social media networks becoming banks.
At the end of 2022, Elon Musk held a meeting with Twitter employees laying out plans to turn the social network into a bank - complete with a high-yield money market account, debit cards, checks, and loans.
Musk is not the first social media mogul to see the power of combining banking and social networks – but, to date, that melding of likes and filters with APIs and KYC has proved difficult in many markets.
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