Issue #23 - What fintechs achieve with better data.

Over the past few weeks we explored financial and commerce data, improving bank operations with better data and what corporates want from rich payments data. Last week’s issue highlighted how banks can use data to improve customer experience and revenues

This week, we’ll explore how some leading fintechs use rich payments data to transform the customer experience and business models of traditional banking services.


Brex, which is now valued at over $7B “is changing the landscape by combining financial products and software into a single platform”. It has gone from a card provider to building “the “financial operating system” for growing businesses, enabling them to spend and track payments across all mediums.”

With Clearco “companies can apply for funding by entering their financial data into the firm’s system that automatically analyzes the data and comes up with recommendations using AI and data-driven decision-making. This process has enabled Clearco to break down the silos and bias in traditional VC funding.”

Melio is working to make B2B payments as easy as using Venmo with “...risk models that pull directly from bank and payments data, powerful fraud detection, robust compliance, and B2B-grade workflows.” 

Pipe’s platform assesses a customer’s key metrics by integrating with its accounting, payment processing and banking systems. It then instantly rates the performance of the business and qualifies them for a trading limit.”

Square stands to make safer loans than traditional lenders who have far less visibility into Joe’s business. This creates a positive feedback loop which further enhances Square’s learning model for future loans.”


If you have thoughts or questions to share on this series, please leave a comment.

These musings on the developments in data-rich payments are assembled by the team at 20022 Labs. See more issues and subscribe to get updates in your inbox.