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patio11's profile
Patrick McKenzie
Patrick McKenzie
Patrick McKenzie
@patio11

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Patrick McKenzie

@patio11

I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.

東京都 Tokyo
kalzumeus.com
Joined February 2009

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    Patrick McKenzie‏ @patio11 16 Oct 2019
    • Report Tweet
    • Report NetzDG Violation

    Patrick McKenzie Retweeted QED Investors

    One of the most interesting questions about the structure of the financial industry in N years is to what proportions to you expect: 1) ~10 extremely large money center banks 2) 2~3 vertical banks for each large field 3) X,000 footprint-defined banks 4) Apps doing One Thing Wellhttps://twitter.com/QEDInvestors/status/1184561608892321793 …

    Patrick McKenzie added,

    QED Investors @QEDInvestors
    “Vertical banking is about focusing on the 6-7 products that a specific customer, such as a landlord, actually needs… Being world-class in 6 or 7 products—that’s a solvable problem” – @fintechjunkie on our portfolio company @zibo_inc https://www.zibo.co/blog/introducing-zibo-radically-improving-landlords-financial-services …
    9:20 PM - 16 Oct 2019
    • 6 Retweets
    • 34 Likes
    • Angel Galván Ian Macalinao Ben Goldhaber Yoroomie Tanner Hoke Aniket Kadam Mengxi Lu Aaron Wall Dag Olav Norem
    4 replies 6 retweets 34 likes
      1. Patrick McKenzie‏ @patio11 16 Oct 2019
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        And, I suppose: 5) Tech companies / platforms either doing N things (but not X00 things) well and/or enabling X00~Y,000 companies built on top of them to be entrants in #2 to #5

        0 replies 1 retweet 8 likes
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      2. Mengxi Lu‏ @mengxilu 16 Oct 2019
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        Replying to @patio11

        Vertical banking will focus on financing and utilities so an interesting q is who will instrument the capital: incumbent banks or we will see new platforms funding these w/ broader capital markets

        1 reply 0 retweets 2 likes
      3. Gary Basin‏ @garybasin 17 Oct 2019
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        Replying to @mengxilu @patio11

        Will be interesting especially with the amount of reg oversight. While I would prefer 1000 duck-sized horses... Best case may be a few giants without consumer relationships doing wholesale balance sheet management for lots of originators

        0 replies 0 retweets 1 like
      4. End of conversation
      1. JD Ross‏ @justindross 16 Oct 2019
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        Replying to @patio11

        Been waiting for this to launch for a while. @RaboFoodAgri is loved by farmers, and I’m expecting tech to continue building vertical banks now with the new banking backend infra/APIs

        0 replies 0 retweets 1 like
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      2. Matt‏ @regulatorynerd 16 Oct 2019
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        Replying to @patio11

        I think there will still be a space for Regional Banks. Think PNC in Pittsburgh. Regions in Alabama. M&T in Buffalo. Folks who aren’t tech savvy or who like in-person interactions will keep driving their deposit base. Local ties, relationship banking will drive loan volume.

        1 reply 0 retweets 0 likes
      3. Matt‏ @regulatorynerd 16 Oct 2019
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        Replying to @regulatorynerd @patio11

        One thing that makes Regionals different from footprint banks is their scale. Regionals have $100B plus assets and often span multiple states with large cities. The super regionals are even bigger, and are basically money center banks minus the capital markets operations.

        0 replies 0 retweets 0 likes
      4. End of conversation

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