Spotify Wrapped- But for Bank Clients?

If you're a music fan, you're likely already aware that music streaming platform Spotify released listeners' Spotify Wrapped summaries today. The annual recap gives users a personalized summary of their listening habits over the past year using fun, shareable insights and statistics about their favorite songs, artists, genres, and podcasts. This year, there was even a twist. Spotify partnered with NotebookLM to give users a podcast-like spoken summary of their results.

This unique, personalized use of data makes me wonder if banks could do the same thing with users's transactions. I would find it interesting and entertaining to see what I spent the most money on (to highlight what I value), where I spent money (to reminisce on vacations), and how my spending and saving habits compared to that of my peers over the past year. I could even see merchant advertising playing a role. Banks could partner with merchants to allow them to reward consumers with a loyalty discount if they fall into a high spending category.

While many consumers shy away from checking their bank balance because it stresses them out, they may find an annual recap served up in the format of an Instagram-like reel tolerable.

I won't hold my breath for this feature to be created at my 103-year-old bank, but I would love to see a bank or fintech create this in the future.

I'm Julie Muhn, bringing you today's news while streaming The Best of Mannheim Steamroller playlist on Spotify.

Weekly news

MUFG agrees to acquire Japanese robo-advisory firm WealthNavi Inc. for $664 million.

Lumin Digital secures $160 million in growth funding.

KPay Group raises $55 million in Series A funds.

Harmoney acquires compliance specialist APPC.

Deel acquires Atlantic Money for undisclosed sum.

Could a U.S. AI Czar Reshape Global Fintech?

After reading Axios' report that President-elect Trump is considering naming an AI czar when he steps into office next year, I knew I had to write about it. The AI czar would be responsible for coordinating policy and governmental use of AI.

The title "czar" sounds a bit dramatic, but there would be real implications of such a role on the fintech sector. Read my piece from earlier this week to learn about potential benefits, risks, and possible global impact.

Pause Button: More about Mannheim Steamroller

If you're unfamiliar with the work of Mannheim Steamroller, it may be time to change that. It is a neoclassical new-age music ensemble founded and directed by composer Chip Davis. Mannheim Steamroller started in 1974 and has sold more than 41 million albums. According to the group's website, it is the #1 Christmas music artist, having sold over 31+ million albums, one of which ended up in my childhood home.

You can learn 25 fun facts about Mannheim Steamroller and Chip Davis, including where the name originated from and how many Halloween albums it has sold, on its website.

Sneak Peek of FinovateSpring

While FinovateEurope is our next upcoming conference, FinovateSpring, taking place in San Diego on May 7 through May 9, is also fast approaching.

If you've attended FinovateSpring in the past, be sure to note the event's new location– we're headed further south this year to the Sheraton San Diego Hotel and Marina.

Tickets are now available and WOW are you all interested! We've sold a record number of tickets at this stage and we couldn't be more thrilled. We are still carefully crafting the agenda for the show, and it is going to be a record-breaking one.

Stay tuned for more details, and check out this highlight of our 2023 audience below.

Header photo courtesy Spotify

AI czar photo by Marek Pavlík on Unsplash

Mannheim Steamroller photo courtesy Mannheim Steamroller