Fintech Rundown (24/03) - Venmo, Paypal, HSBC, JPMorgan

Venmo is expanding how people send money by connecting with PayPal.

Now, users can send and receive payments with PayPal users across 90 markets.

This is the biggest expansion in Venmo’s history.

You can send money using just a phone number—no bank details needed.

This also tackles a major problem in payments: too many separate apps that don’t work together.

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Next, HSBC has appointed its first Chief AI Officer.

The bank wants to use AI to improve how it operates and become more efficient.

David Rice will lead this effort, helping roll out AI tools across the company, including making AI available to all employees.

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Finally, JP Morgan is starting to track how much junior bankers actually work.

They’re comparing reported hours with real activity like emails, calls, and computer usage.

This is part of a pilot, but it could expand across the whole investment bank.

That’s your fintech rundown. Stay tuned for more.