The Walmart's Fintech and the Fintechnolization Era
Walmart goes fintech because every digital platform will get to the steady state of offering a financial service to its customers: "In a bid to better leverage its millions of customers, retail giant Walmart Inc. created a fintech startup to win more of their spending". It makes sense when you have those tons of data, you need to put them to work. Fintechnolization of platforms is the next big thing.
Walmart says it's building a fintech startup with venture capital firm Ribbit Capital, vowing to develop affordable financial products for its employees and customers. The retail giant has increasingly expanded into new areas as it looks to compete with Amazon, recently launching its own health clinics and moving into the insurance business. Walmart — which already interacts with millions of customers, some of whom may not have banks — didn't say when the services will be released or what they will be called. (source)
It is what it is, and it is just taking off. Walmart will work with 'Ribbit Capital, an investor in stock-trading platform Robinhood, to start a venture that “will bring together Walmart’s retail knowledge and scale with Ribbit’s fintech expertise to deliver tech-driven financial experiences tailored to Walmart’s customers and associates.”'
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