Tide expands SME platform with strategic payroll acquisition 🤝💸; Schwab's wealth management transformation signals a new growth chapter despite rate headwinds 📈💰

FinTech is Eating the World, 22 October

Hey Everyone,

Good morning & happy Wednesday! Today we’re going to look at Tide which just expanded its SME platform with strategic payroll acquisition (what it’s all about, why it makes sense & what this tells us about the future of FinTech), and Charles Schwab whose wealth management transformation signals a new growth chapter despite rate headwinds (breaking down the latest numbers, what they mean & whether this finance giant is worth your time and money in 2024 & beyond). Let’s just jump straight into the hot stuff 🌶️

Tide expands SME platform with strategic payroll acquisition 🤝💸

The news 🗞️ Business financial platform Tide has acquired UK-based payroll provider Onfolk in a strategic move to enhance its services for small and medium-sized enterprises (SMEs).

The acquisition will see Onfolk's payroll technology integrated directly into the Tide app as Tide Payroll, offering seamless payroll management capabilities to Tide's 650,000 UK customers.

Let’s take a look at this and see why it matters.