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<p><a href="https://www.businessinsider.com/category/money2020-europe"></a></p><div type="image" title="Attendees watch a Money20/20 conference session" height="2601" width="4000" msid="92090522" hostid="261"></div><ul class="summary-list"><li>UK <keyword id="14148650" type="UNKNOWN" weightage="60" keywordseo="neobank" source="Orion">neobank</keyword> <keyword id="14148649" type="UNKNOWN" weightage="60" keywordseo="zopa" source="Orion">Zopa</keyword> is getting into the <a href="https://www.businessinsider.com/buy-now-pay-later-bnpl-threats-payments-merchants-fees-data-2021-8">buy now pay later (BNPL) market</a>.</li><li>The company had previously teased Q4 2022 for an IPO, and its CEO affirmed that it will be waiting for "the right moment" to go public. </li></ul><p>UK neobank Zopa is getting into the <a href="https://www.businessinsider.com/buy-now-pay-later-bnpl-threats-payments-merchants-fees-data-2021-8">buy now, pay later (BNPL) market</a>, it announced Wednesday.</p><p>The announcement came just the day after <a href="https://www.businessinsider.com/apple-pay-later-doesnt-worry-us-buy-now-unicorn-affirm-2022-6">Apple said it was also launching BNPL services</a>.</p><p>"We're not gonna compete with Apple," Zopa CEO Jaidev Janardana said at the Money20/20 <keyword id="11898487" type="UNKNOWN" weightage="60" keywordseo="fintech" source="Orion">fintech</keyword> conference in Amsterdam on Wednesday. "Our focus will be on bigger-ticket items."</p><p>Zopa's <keyword id="9522245" type="UNKNOWN" weightage="60" keywordseo="bnpl" source="Orion">BNPL</keyword> option is available for purchases from £250 to £30,000 ($314 to $37,630).</p><p>The bank says it will carry out full credit checks to ensure it only offers affordable credit to customers and will help customers to consolidate their debt and build their credit profiles.</p><p>"We understand that BNPL is just debt," Janardana said.</p><p>Ed Massey, Zopa's head of partnerships and business development, called BNPL a "relatively unpredictable space," citing upcoming regulations, rising inflation, and the current cost of living crisis.</p><p>Zopa said that its BNPL service will first be offered as retail <keyword id="11895316" type="UNKNOWN" weightage="60" keywordseo="finance" source="Orion">finance</keyword> for merchants through B2B2C partnerships, and then to consumers when new regulation comes into place.</p><p>Zopa first launched as a peer-to-peer lender connecting savers to borrowers, though it closed down this stream of its business <a href="https://www.zopa.com/about/our-story">in late 2021</a>. Since <a href="https://www.businessinsider.com/zopa-attains-full-uk-banking-license-2020-6">getting its banking license</a> in 2020, Zopa says it has become profitable, attracted £1.2 billion in deposits, and issued around 300,000 credit cards.</p><p>Massey said that Zopa makes 7 million fully-automated lending decisions a month.</p><p>Zopa had previously earmarked the fourth quarter of 2022 for its IPO. Janardana said it's "doing the necessary steps" but "we will wait for the right moment to do an IPO," adding that investors including Japanese investment giant SoftBank were happy to wait. In October,</p><p><a href="https://www.businessinsider.com/zopa-bank-fast-growing-fintech-lender-raises-300m-from-softbank-2021-10">Zopa announced that it had raised $300 million in funding from SoftBank</a>, and says that it has raised a total of $500 million to date.</p>

Report from Money20/20: Zopa is getting into the booming buy now, pay later market

<ul class="summary-list"><li>CEO of pay later unicorn <keyword id="11965225" type="UNKNOWN" weightage="60" keywordseo="affirm" source="Orion">Affirm</keyword> tells Bloomberg he's "genuinely excited" about <keyword id="11894021" type="UNKNOWN" weightage="60" keywordseo="apple" source="Orion">Apple</keyword>'s move.</li><li>Max Levchin said he's "not particularly worried" about the threat Apple Pay Later poses to Affirm. </li></ul><p>The cofounder of "buy now, pay later" unicorn Affirm said he's "genuinely excited" about Apple's decision to enter the same market despite the threat it may pose. </p><p>Tim Cook announced Apple Pay Later <a href="https://techcrunch.com/2022/06/06/apple-pay-later-lets-you-split-up-purchases-into-four-payments-at-no-interest/">at its developer conference</a> on Monday. The <keyword id="14147157" type="UNKNOWN" weightage="60" keywordseo="apple-wallet" source="Orion">Apple Wallet</keyword> feature lets users split any purchase into four interest-free payments over six weeks.</p><p>Max Levchin, who is also Affirm's CEO, told <a href="https://www.bloomberg.com/news/articles/2022-06-07/affirm-ceo-says-he-s-not-worried-about-apple-s-pay-later-rival?srnd=technology-vp">Bloomberg TV on Tuesday:</a> "They're focusing on a six-week product, which I think is great. There's plenty of competitors and they should be worried – I think this spells a certain level of concern for folks that are really specialized in this really short-term product."</p><p>In contrast, Affirm offers payment plans for up to 60 months, he said.</p><p>Rajat Roy, an associate professor at Bond University, wrote in a <a href="https://theconversation.com/buy-now-pay-later-apple-will-now-lend-you-money-to-keep-you-spending-and-expand-its-empire-184550">piece for The Conversation</a> that Apple was "trying to consolidate its foothold in the world of consumer finance, and increase its profitability".</p><p>He added: "As Apple's customers increasingly start to use the Pay Later service, it will gain from merchant fees."  </p><p>Affirm stock <a href="https://markets.businessinsider.com/news/stocks/affirm-stock-price-apple-announces-buy-now-pay-later-wallet-2022-6">dropped 6%</a> on Monday after Apple's announcement and has lost almost three quarters of its value this year following a turbulent period for buy now, pay later firms, but is still worth about $7 billion.</p><p>In late May, Swedish fintech darling <keyword id="11965228" type="UNKNOWN" weightage="60" keywordseo="klarna" source="Orion">Klarna</keyword> laid off <a href="https://www.businessinsider.com/klarna-fintech-unicorn-pre-recorded-message-layoff-700-employees-2022-5">10% of its staff</a>, or about 700 employees. Affirm, however, is still actively hiring, Levchin said. </p><p>Regulators <a href="https://www.cityam.com/consumer-groups-sound-the-alarm-over-buy-now-pay-later-bills-as-cost-of-living-soars/">in the UK</a> and <a href="https://www.cnbc.com/2021/12/16/consumer-watchdog-takes-aim-at-buy-now-pay-later-programs.html">the US</a> are also paying increasing attention to the sector. In December, the US Consumer Financial Protection Bureau opened an investigation into consumer debt levels on platforms including Klarna and Afterpay. </p><p>Affirm did not immediately respond to Insider's request for comment. </p>

Apple Pay Later doesn't worry us, says CEO of buy now, pay later unicorn Affirm

<ul><li><strong><keyword id="11983441" type="UNKNOWN" weightage="60" keywordseo="affirm-stock" source="Orion">Affirm stock</keyword> fell 6% on Monday after <keyword id="11894021" type="UNKNOWN" weightage="60" keywordseo="apple" source="Orion">Apple</keyword> announced its own Buy Now, Pay Later payment option.</strong></li><li><strong><keyword id="12211805" type="UNKNOWN" weightage="60" keywordseo="apple-pay" source="Orion">Apple Pay</keyword> Later allows users to split the cost of an Apple Pay purchase into four equal payments with no interest.</strong></li><li><strong>The new offering from Apple works with any merchant that already supports Apple Pay, and does not require a new POS terminal.</strong></li></ul><p><a href="https://markets.businessinsider.com/stocks/afrm-stock">Affirm</a> stock sank as much as 6% on Monday after <a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a> announced its own buy now, pay later payment option at its <a href="https://www.businessinsider.com/apple-iphone-edit-button-unsend-imessages-texts-ios16-2022-6">annual WWDC event.</a></p><p>Apple announced Apple Pay Later, which is fully integrated into Apple's digital wallet and allows its users to pay back any purchase made with Apple Pay in four installments. Apple said its buy now, pay later option boasts zero interest rates and no late fees.</p><p>The new payment option from Apple has long been rumoured, which is perhaps why <keyword id="11965225" type="UNKNOWN" weightage="60" keywordseo="affirm" source="Orion">Affirm</keyword> pared its losses and traded down just 3% about one hour after Apple's announcement. Still, Affirm is down 75% year-to-date, and is off more than 86% from its 52-week high. </p><p>Apple Pay Later is available wherever Apple Pay can be used, including for in-app purchases and shopping on the web. Additionally, the new payment installment plan is fully integrated with existing point-of-sale terminals, so retailers won't need to upgrade their POS systems to enable Apple Pay Later.</p><p>Any purchase made with Apple Pay Later can be tracked and managed through the Apple Wallet app on the iPhone. Apple's first foray into the buy now, pay later space was with its Apple Credit Card, which allowed users to make monthly installment payments with 0% interest for specific Apple products purchased at Apple Store locations.</p><p>Now Apple will compete with the likes of Affirm, Klarna, and Afterpay in the buy now, pay later space, but Apple highlighted its plans to launch the service were more of an effort to help its iPhone users completely replace their physical wallet. The company is working towards that goal by launching state-approved digital drivers licenses, among other features.</p><p><keyword id="11940162" type="UNKNOWN" weightage="60" keywordseo="apple-stock" source="Orion">Apple stock</keyword> traded up half a percent in Monday trades. The company also unveiled new MacBooks, and iOS 16 for the iPhone. Speculation has mounted that Apple may unveil an augmented reality product. The conference is still ongoing. </p>

Affirm sinks after Apple announces its own buy-now-pay-later option at WWDC event

<ul class="summary-list"><li>The three major credit bureaus will start collecting data on "buy now, pay later" loans. </li><li><keyword id="13412939" type="UNKNOWN" weightage="60" keywordseo="experian" source="Orion">Experian</keyword> will be the only one to count these loans toward — or against — credit scores for now. </li></ul><p>Accepting the enticing "buy now, pay later" offer you see while shopping online could start counting toward — or against — your credit score.</p><p>That's because the three major US credit bureaus, <keyword id="12107777" type="UNKNOWN" weightage="60" keywordseo="transunion" source="Orion">TransUnion</keyword>, <keyword id="13412940" type="UNKNOWN" weightage="60" keywordseo="equifax" source="Orion">Equifax</keyword>, and Experian, will be collecting data on these purchases, according to their press releases. If you make payments on time, it could boost your credit score; if not, it could hurt it, which could in turn affect your ability to obtain a mortgage, credit card, or other loan. </p><p><keyword id="9522245" type="UNKNOWN" weightage="60" keywordseo="bnpl" source="Orion">BNPL</keyword> loans such as those offered by Affirm, Afterpay, Klarna, and PayPal's "Pay 4" option have been growing increasingly popular over the past few years, <a href="https://themotleyfool.partnercentric.com/?campaign=78888&amp;pc_source=TheMotleyFool_Awin&amp;ued=https://www.fool.com/the-ascent/research/buy-now-pay-later-statistics/?awc=12195_1647964660_f6d5cfa98770dc94848fe3a78cd51101&amp;utm_source=aw&amp;utm_campaign=78888">especially</a> among Gen Z buyers. The services essentially do what they say, which is offer buyers short-term, often interest-free loans to pay for purchases. Shoppers sign up for a scheduled repayment plan and pay back the debt in installments. </p><p>The rise of BNPL <a href="https://www.businessinsider.com/buy-now-pay-later-raise-government-concerns-debt-credit-risk-2022-1">led to</a> a pandemic-era spending and debt boom, prompting the the Consumer Financial Protection Bureau to <a href="https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-opens-inquiry-into-buy-now-pay-later-credit/">open</a> an inquiry into BNPL firms in December, citing concerns around debt growth, consumer protection laws, and data harvesting.</p><p>The three bureaus are taking different approaches when it comes to incorporating the relatively new shopping phenomenon into the financial profiles of credit users. Equifax will be the only one of the three where a BNPL provider can choose to include BNPL loans in the calculation of your core credit score. TransUnion and Equifax will start collecting information about an individual's outstanding BNPL loans, but won't factor it into a credit report. Both TransUnion and Equifax, however, allowed for the possibility that they might do so in the future. </p><p>"To protect consumer credit scores from immediate negative impact, detailed information related to each BNPL transaction will be stored separately from Experian's core <keyword id="13440764" type="UNKNOWN" weightage="60" keywordseo="credit-bureau" source="Orion">credit bureau</keyword> data," Experian <a href="https://www.experianplc.com/media/latest-news/2022/experian-s-industry-first-buy-now-pay-later-bureau-will-protect-consumer-credit-scores-and-provide-real-time-insights-to-drive-more-inclusive-and-responsible-lending">said</a> in a press release. </p><h2>Experts are cautious about buy now, pay later and its impact on credit scores</h2><p>TransUnion does plan to use BNPL loans to calculate consumers' credit scores in the future, but it will likely take credit bureaus and reporting models a few years to adjust, Liz Pagel, Senior Vice President at TransUnion, <a href="https://www.cnbc.com/select/bnpl-loans-to-be-reported-on-credit-reports/">told</a> CNBC last week, and Experian's Chief Product Officer, Greg Wright, <a href="https://www.lendacademy.com/podcast-342-greg-wright-of-experian/?intcmp=insightsblog-btn-022322-bnpl-podcast">said</a> the same thing. </p><p>For now, BNPL information will be separate from credit information in those two bureaus so that it doesn't negatively impact credit scores — but they won't be improving them either. Other than storing the data, Experian and TransUnion have not said what else they plan to do with it. </p><p>Equifax, in contrast, will run bi-weekly reporting on BNPL loans. </p><p>The bureau will account for BNPL lines of credit, and give the firms that generate scores the opportunity to view and decide how to incorporate the BNPL data, Equifax <a href="https://investor.equifax.com/news-events/press-releases/detail/1204/equifax-first-to-formalize-inclusion-of-buy-now-pay">said</a> in a press release. </p><p>Susan Sterne, president and chief economist at Economic Analysis Associates, told Insider's Ben Winck in January that the credit bureaus should have investigated the impact of BNPL sooner, due to the risk of a possible credit bubble. Credit bubbles describe a surge in forms of credit, such as loans. </p><p>"The three big agencies that follow consumer debt have yet to really get their hands around this as it's a relatively new concept," Sterne said. "They've been diligent post-financial crisis, but I guess nothing has changed. They should have been more aware of this." </p>

Buy now, pay later loans like Affirm and Klarna will soon count toward your credit score

<ul class="summary-list"><li>The Student Borrower Protection Center released an investigation on private student-loan financing.</li><li>It found "Buy Now, Pay Later" loans can steer students in the for-profit sphere deep into debt.</li></ul><p>The for-profit education sphere has been under scrutiny for decades over accusations of bad behavior and misleading students into taking on debt — and a new investigation highlighted the major risks with the loans many of those schools offer.</p><p>The Student Borrower Protection Center (SBPC) released <a href="https://protectborrowers.org/wp-content/uploads/2022/03/SBPC_BNPL.pdf">a report</a> on Thursday that found over 100 for-profit schools issue "dangerous" loan financing options to students that are lightly-regulated and are not in the best interest of the borrower.</p><p>The report highlighted "Buy Now, Pay Later" (<keyword id="9522245" type="UNKNOWN" weightage="60" keywordseo="bnpl" source="Orion">BNPL</keyword>) loans in particular, which allow borrowers to split loan repayments into a series of installments, but have left many to face "huge and unexpected fees, see damage to their credit, be left with no protections in the event of fraud, lose ability to seek justice in the courts in the event of a dispute, and more," according to the report.</p><p>BNPL loans fall under what the report described as "shadow <keyword id="11896049" type="UNKNOWN" weightage="60" keywordseo="student-debt" source="Orion">student debt</keyword>" — a term for the broad set of "risky" loans available outside the typical private student loan market.</p><p>"Today's report exposes yet another industry bent on making a buck through the student debt crisis," SBPC Director of Research &amp; Investigations Ben Kaufman said. "Policymakers and law enforcement at all levels must step in to protect borrowers from the unholy but ever-more prevalent marriage of dubious schools and risky private credit."</p><p>As Insider previously <a href="https://www.businessinsider.com/buy-now-pay-later-raise-government-concerns-debt-credit-risk-2022-1">reported</a>, BNPL loans have grown in popularity over recent years — more than <a href="https://www.emarketer.com/content/almost-75-of-bnpl-users-us-gen-z-millennials">45 million Americans</a> are using them — prompting the Consumer Financial Protection Bureau (<keyword id="12055000" type="UNKNOWN" weightage="60" keywordseo="cfpb" source="Orion">CFPB</keyword>) to open an inquiry on firms that hand out those loans given their unregulated nature. And, as the Student Borrower Protection Center's report found, regulation is needed. Many students who attend for-profit schools take out BNPL loans with the promise of successful employment post-graduation, but despite the programs costing hundreds of dollars, "there is no available evidence to indicate that they consistently or even frequently lead to a job, let alone one at advertised average starting salaries for their given field."</p><p>Here are other main findings from the SBPC's investigation:</p><ul><li>BNPL options are available as a student loan at more than 50 "apparently unaccredited and/or unregulated for-profit schools," leading to significant lack of oversight over the financing.</li><li>BNPL companies are especially active in for-profit training bootcamps, usually for tech jobs, that have historically misled students into taking on debt with few career prospects.</li><li>Despite PayPal <a href="https://www.yahoo.com/now/pay-pal-credit-for-profit-schools-213858404.html">claiming</a> in 2020 it would take action to rein in its private loan financing products, schools can use PayPal services as a type of loan they offer, and they are continuing to offer the company's BNPL loan as a student loan. </li></ul><p>Law360 <a href="https://www.law360.com/articles/1469711/paypal-faces-5m-suit-over-buy-now-pay-later-product">reported</a> on Wednesday that PayPal is facing a lawsuit after consumers told a federal court the company did not make them aware of the "true risks" of its BNPL service.</p><h2>The government has started cracking down on risky student-loan financing</h2><p>PayPal and <a href="https://www.afterpay.com/en-US">Afterpay</a> are most commonly known for ecommerce sales, but they also offer a service that schools can use to set up BNPL loans for students.</p><p>As the SBPC highlighted, the risks with BNPL can be dire. Not only are those lenders not required to offer an account statement disclosing payments, which can make borrowers confused about what they owe, but late fees can be as high as $25 for one late payment. <a href="https://www.afterpay.com/en-US">Afterpay</a> reported it sourced 20% of its overall yearly revenue from late fees alone, per the National Consumer Law Center.</p><p>Lawmakers are aware of these risks, and six Democratic senators urged the CFPB to increase oversight and ensure transparency over BNPL products in December.</p><p>"[BNPL] are not generally subject to federal supervision that can spot unfair, deceptive, or abusive practices or other violations of federal consumer protection laws," the lawmakers' <a href="https://www.banking.senate.gov/newsroom/majority/us-senators-urge-cfpb-to-take-action-to-ensure-transparency-and-oversight-of-buy-now-pay-later-products_providers">letter</a> said. "Consumers may be unaware of these regulatory gaps and may be erroneously led to believe that credit obtained from a BNPL provider comes with protections that are similar to those for credit cards."  </p><p>On Wednesday, the CFPB <a href="https://www.businessinsider.com/private-student-loan-borrowers-deeper-debt-biden-education-department-2022-3">published</a> a blog post reminding colleges that advertise private <keyword id="11896050" type="UNKNOWN" weightage="60" keywordseo="student-loans" source="Orion">student loans</keyword> that they must disclose all costs and risks associated with the financing, as required by the Higher Education Act. </p><p>"Without guardrails, these financial incentives can create conflicts of interest that may drive students to use financial products—branded by trusted college logos—that have high or unusual fees and fewer consumer protections than other widely available products," Rich Williams, chief of staff of the Office of Postsecondary Education, wrote. "Expensive financial products can leave many vulnerable students deeper in debt, and unexpected fees can threaten their path toward graduation."</p>

Millions of student-loan borrowers are being driven toward 'dangerous' debt for a for-profit education, investigation finds

<p>Good morning and welcome to <keyword id="11420569" type="UNKNOWN" weightage="60" keywordseo="insider-finance">Insider Finance</keyword>. I'm Dan DeFrancesco, and here's what's on the agenda today:</p><ul><li>Andreessen Horowitz just tapped David Haber as its <a href="https://www.businessinsider.com/david-haber-goldman-sachs-andreessen-horowitz-fintech-general-partner-2021-6">first New York-based general partner</a>.</li><li>Goldman Sachs is <a href="https://www.businessinsider.com/goldman-sachs-marcus-hiring-buy-now-pay-later-product-leader-2021-6">building out teams</a> focused on new buy now, pay later offerings. </li><li><keyword id="42111" type="COMPANY" weightage="60" keywordseo="Wall-Street">Wall Street</keyword> is showing an interest in <a href="https://www.businessinsider.com/accenture-virtual-augmented-reality-transform-trading-floor-banking-michael-cheek-2021-6">adopting more virtual reality</a>. </li></ul><p><strong>You're invited: </strong>Join us Tuesday at 12 p.m ET for a virtual event presented by PwC, spotlighting the biggest trends CEOs will focus on in the next 12 months. <a href="https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg30.jsp&amp;partnerref=editorial_newsletter&amp;eventid=3133937&amp;sessionid=1&amp;key=7A1B1FC73859D6F335A5645AA0F68725&amp;regTag=&amp;V2=false&amp;sourcepage=registeralse&amp;sourcepage=register" target="_blank" rel="noopener noreferrer">Register here</a>.</p><p><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a></p><p>Like the <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>? Hate the newsletter? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>. </p><h3><a href="https://www.businessinsider.com/david-haber-goldman-sachs-andreessen-horowitz-fintech-general-partner-2021-6">a16z is zeroing in on the New York fintech scene with a new general partner hire. He explains why the best minds on Wall Street are pivoting to startups.</a></h3><p><a href="https://www.businessinsider.com/david-haber-goldman-sachs-andreessen-horowitz-fintech-general-partner-2021-6"><div type="image" title="David Haber, general partner at Andreessen Horowitz" height="512" width="682" msid="83918470" hostid="261"></div></a></p><p>Andreessen Horowitz is on a hiring spree, and David Haber, who will lead the firm's bullish take on the New York fintech scene, is its latest get. </p><p><a href="https://www.businessinsider.com/david-haber-goldman-sachs-andreessen-horowitz-fintech-general-partner-2021-6">Read up on Haber's role here.</a></p><h3><a href="https://www.businessinsider.com/deutsche-bank-alliancebernstein-accenture-return-office-covid-remote-work-2021-6">WATCH: Execs from Deutsche Bank, AllianceBernstein, and Accenture share details on return-to-office plans, from COVID-19 vaccinations to long-term hybrid models</a></h3><p><a href="https://www.businessinsider.com/deutsche-bank-alliancebernstein-accenture-return-office-covid-remote-work-2021-6"><div type="image" title="Insider Events 'Future of work on Wall Street' event promotion, including Katie Burke of AllianceBernstein, Melissa Fridman of Deutsche Bank, and Michael Cheek of Accenture." height="1874" width="2499" msid="83918475" hostid="261"></div></a></p><p>Executives from Deutsche Bank, AllianceBernstein, and Accenture joined Insider's <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">finance</keyword> reporter Reed Alexander on June 24 to explain how they're navigating Wall Street's return to the office (plus, we got sneak previews of the new offices that Deutsche Bank and AllianceBernstein are opening later this year). <a href="https://www.businessinsider.com/deutsche-bank-alliancebernstein-accenture-return-office-covid-remote-work-2021-6">Check out the full webinar here.</a></p><h3><a href="https://www.businessinsider.com/accenture-virtual-augmented-reality-transform-trading-floor-banking-michael-cheek-2021-6">Virtual reality is helping Wall Street reimagine a hybrid work model. An Accenture MD breaks down how traders and bankers can use the tech.</a></h3><p><a href="https://www.businessinsider.com/accenture-virtual-augmented-reality-transform-trading-floor-banking-michael-cheek-2021-6"><div type="image" title="Virtual reality" height="2438" width="3250" msid="83918481" hostid="261"></div></a></p><p>Traders may soon swap big, burdensome screen rigs for something more streamlined: virtual reality. <a href="https://www.businessinsider.com/accenture-virtual-augmented-reality-transform-trading-floor-banking-michael-cheek-2021-6">Michael Cheek shares how AR and VR could impact Wall Street.</a></p><h3><a href="https://www.businessinsider.com/wells-fargo-julie-caperton-private-bank-wealth-management-hiring-advisors-2021-6">Wells Fargo's new private bank head has big hiring plans for advisors to the ultra-wealthy, and says her priorities are 'growth, growth, and growth'</a></h3><p><a href="https://www.businessinsider.com/wells-fargo-julie-caperton-private-bank-wealth-management-hiring-advisors-2021-6"><div type="image" title="Headshot of Wells Fargo's new private-bank head, Julie Caperton." height="455" width="606" msid="83918483" hostid="261"></div></a></p><p>Julie Caperton plans to hire more client advisors and relationship managers to exclusively service high-net-worth and ultra-high-net-worth customers near all of the 26 private bank hubs. <a href="https://www.businessinsider.com/wells-fargo-julie-caperton-private-bank-wealth-management-hiring-advisors-2021-6">Read more about her hiring strategy.</a></p><h3><a href="https://www.businessinsider.com/goldman-sachs-marcus-hiring-buy-now-pay-later-product-leader-2021-6">Goldman's Marcus is staffing up teams focused on buy now, pay later as banks push into the red-hot market of point-of-sale financing</a></h3><p><a href="https://www.businessinsider.com/goldman-sachs-marcus-hiring-buy-now-pay-later-product-leader-2021-6"><div type="image" title="Marcus Goldman Sachs" height="3354" width="4472" msid="83918486" hostid="261"></div></a></p><p>Goldman's Marcus is hiring a leader and associate focused on buy now, pay later offerings. <a href="https://www.businessinsider.com/goldman-sachs-marcus-hiring-buy-now-pay-later-product-leader-2021-6">Here's what we know about the roles</a>.</p><h3><a href="https://www.businessinsider.com/blackstone-home-partners-america-single-family-rental-real-estate-inflation-2021-6">Blackstone's betting $6 billion on the rental market - here's why private-equity loves real estate right now</a></h3><p><a href="https://www.businessinsider.com/blackstone-home-partners-america-single-family-rental-real-estate-inflation-2021-6"><div type="image" title="Jonathan Gray Blackstone" height="1043" width="1390" msid="83918487" hostid="261"></div></a></p><p>Blackstone is all-in on rent resets and long-term property assets to combat potential inflation. <a href="https://www.businessinsider.com/blackstone-home-partners-america-single-family-rental-real-estate-inflation-2021-6">Here's why PE loves real estate.</a></p><h3><a href="https://www.businessinsider.com/citigroup-hires-etienne-lussiez-from-barclays-to-run-index-volatility-2021-6">Citigroup poached a volatility trader from Barclays to run index flow trading, reinforcing a desk hard hit by Wall Street talent war</a></h3><p><a href="https://www.businessinsider.com/citigroup-hires-etienne-lussiez-from-barclays-to-run-index-volatility-2021-6"><div type="image" title="Etienne Lussiez is the head of index flow volatility trading at Citigroup" height="650" width="866" msid="83918488" hostid="261"></div></a></p><p>Citigroup has hired Etienne Lussiez from Barclays to run index flow volatility trading. <a href="https://www.businessinsider.com/citigroup-hires-etienne-lussiez-from-barclays-to-run-index-volatility-2021-6">Here's what we know</a>.</p><h3><a href="https://www.businessinsider.com/wall-street-hires-and-exits-bradley-wolff-erika-najarian-eric-sheridan-2021-6">Must-know promotions, exits, and hires at firms like Evercore, UBS, and Goldman Sachs</a></h3><p><a href="https://www.businessinsider.com/wall-street-hires-and-exits-bradley-wolff-erika-najarian-eric-sheridan-2021-6"><div type="image" title="Bank researcher Erika Najarian" height="633" width="845" msid="83918489" hostid="261"></div></a></p><p>Top bank analyst Erika Najarian is leaving Bank of America after more than a decade to join UBS. After nearly 10 years at UBS, top internet research analyst Eric Sheridan has left the firm to join Goldman next month. <a href="https://www.businessinsider.com/wall-street-hires-and-exits-bradley-wolff-erika-najarian-eric-sheridan-2021-6">Here are all the people moves you need to know</a>.</p><h2><strong style="color: #222222; font-size: 15px;">Odd lots:</strong></h2><p><a href="https://www.bloomberg.com/news/articles/2021-06-24/robinhood-ipo-plans-said-to-be-slowed-by-sec-review?sref=5xrDvJna">Robinhood's IPO Plans Slowed By SEC Review (Bloomberg)</a></p><p><a href="https://www.wsj.com/articles/credit-suisses-spac-bonanza-dries-up-11624614653?mod=hp_lead_pos13">Credit Suisse's SPAC Bonanza Dries Up (WSJ)</a></p><p><a href="https://www.businessinsider.com/big-law-associates-lawyers-compensation-salary-work-life-balance-burnout-2021-6">Big Law associates are close to their breaking point, and fat raises and special bonuses aren't fixing the problem (Insider)</a></p><p><a href="https://www.businessinsider.com/wall-street-banks-asking-whether-employees-got-covid-vaccine-survey-2021-6">Goldman Sachs, Morgan Stanley, and AllianceBernstein are asking employees if they've received the COVID-19 vaccine. Here's how 8 firms are handling return to the office. (Insider)</a></p>

You Searched For "BNPL" and got 6 results

Report from Money20/20: Zopa is getting into the booming buy now, pay later market

Grace Dean

Apple Pay Later doesn't worry us, says CEO of buy now, pay later unicorn Affirm

Rosie Bradbury

Affirm sinks after Apple announces its own buy-now-pay-later option at WWDC event

Matthew Fox

Buy now, pay later loans like Affirm and Klarna will soon count toward your credit score

Jason Lalljee

Millions of student-loan borrowers are being driven toward 'dangerous' debt for a for-profit education, investigation finds

Ayelet Sheffey

Goldman Sachs is staffing up BNPL teams

Dan DeFrancesco,Jordan Parker…

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