Cash App is the easiest way to send money, spend money, save money, and buy cryptocurrency
Initially built to take the pain out of peer-to-peer payments, Cash App has gone from a simple product with a single purpose to a dynamic app with over 24 million monthly active users. They are bringing a better way to send, spend, invest, and save to anyone who has ever sought an alternative to the traditional banking system.
Like FinTechs, financial institutions should build frameworks and tools for experimentation, Vish Shastry of Banyan tells PYMNTS.
A pivot from mass marketing to speedy product development drives customer growth and revenues.
Compliance officers who can think out of the box can be the boost that takes a banking product from commodity to innovation.