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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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    1. bpmilne‏Verified account @bpmilne May 7
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      What is the avg bank ROI on a customer deposit?

      15 replies 2 retweets 23 likes
      Show this thread
    2. Patrick McKenzie‏ @patio11 May 7
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      Replying to @bpmilne

      That's a hard & nuanced question. The most straightforward answer is to quote net interest revenue, but if you're looking at deposit profitability, you'd also want to know servicing costs & whether there was ancillary e.g. payments revenue. Most FIs would look at cross-sell too.

      3 replies 0 retweets 9 likes
    3. Patrick McKenzie‏ @patio11 May 7
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      Replying to @patio11 @bpmilne

      A fun business to look at if you haven't seen it before is StoneCastle. If one can explain what a community bank, brokerage, and StoneCastle all bring to the table and why they all benefit from the relationship, one has anomalously good understanding of financial services.

      2 replies 0 retweets 2 likes
    4. bpmilne‏Verified account @bpmilne May 7
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      Replying to @patio11

      Do you have an understanding of what all those organizations share and benefit from?

      1 reply 0 retweets 0 likes
    5. Patrick McKenzie‏ @patio11 May 7
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      Replying to @bpmilne

      I'd like to think so?

      1 reply 0 retweets 2 likes
    6. bpmilne‏Verified account @bpmilne May 7
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      Replying to @patio11

      Mind sharing your perspective? This is a genuine question.

      1 reply 0 retweets 0 likes
    7. Patrick McKenzie‏ @patio11 May 7
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      Replying to @bpmilne

      It's slightly longer than fits in a tweet but: Community bank wants to have more deposits both for the core business of banking and because it allows managing regulatory ratios. Brokerage wants net interest revenue on customer cash, but doesn't have or want a loan book.

      2 replies 0 retweets 7 likes
      Patrick McKenzie‏ @patio11 May 7
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      Replying to @patio11 @bpmilne

      StoneCastle specializes in being technical, regulatory, and sales glue which matchmakes ~constantly between several hundred participants on both sides of that market. It's reallllllly impressive from a systems and market efficiency perspective.

      8:59 PM - 7 May 2020
      • 5 Likes
      • Joachim Schipper Savil Srivastava José Gomes bpmilne
      0 replies 0 retweets 5 likes

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