What lies ahead for Amazon and its new CEO

What to read today: The Digital Wealth Management Report: Insider Intelligence explains what the current digital wealth management market looks like, what makes the segment worthwhile for incumbents, and how they can find success in the space..

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February 6, 2021 Jeff Bezos' stepping down comes on the heels of Amazon's biggest online sales quarter ever. The Amazon founder will be stepping down as CEO in Q3 and handing the reins over to Andy Jassy, who leads the Amazon Web Services team and joined the firm in 1997. His announcement comes on the heels of Amazon's biggest online sales quarter ever, driven by Prime Day and the ecommerce-heavy holiday season. However, Bezos is leaving Jassy to contend with some challenges, including antitrust scrutiny, union talks among workers, and growing retail competition. Insider Intelligence's Adriana Nunez has the full story. BRIEFING HIGHLIGHTS Robinhood receives cash injection to steady the ship Robinhood raised $2.4 billion in convertible debt financing to cover deposit requirements and resume certain stocks' trading. Read More → Biden-led financial regulators get ready to crack the whip Biden's team is already laying out plans to bolster the role of regulators in the finance industry—here's what that means in practice for banks. Read More → Global insurtech funding reached record high in 2020 Global insurtech funding reached $7.12 billion across 377 deals this year, and Life & Health insurtechs will further accelerate funding in 2021. Read More → Amazon expands its biometric payment offering to more stores Amazon is bringing its hand-scan payment technology to more Amazon Go stores as it looks to drum up interest for its biometric payment tech. Read More → Goldman Sachs to shutter Clarity Money, doubling down on Marcus Goldman Sachs will close its Clarity Money personal finance management app to instead concentrate on building up Marcus Insights. Read More → Visa's fiscal Q1 2021 volume was helped by debit spending Visa reported an uptick in overall payments volume, lifted mostly by debit as consumers continue to forgo credit card spending. Read More → National Australia Bank gobbles up challenger 86 400 National Australia Bank's (NAB) purchase of 86 400 marks the second neobank exit from the market in as many months. Read More → Next Insurance doubles gross written premium with AI-powered coverage Next Insurance's AI-powered coverage has proved increasingly popular among small businesses during the pandemic. Read More → UK government clamps down on buy now, pay later players Installment lending firms will now be under regulatory oversight from the UK's Financial Conduct Authority. Read More → PayPal makes strides in Q4 and looks to race further into crypto PayPal's total payment volume climbed 36% year over year in Q4, and it may see additional growth down the line. Read More → RESEARCH IN FOCUS The Digital Wealth Management Report Insider Intelligence explains what the current digital wealth management market looks like, what makes the segment worthwhile for incumbents, and how they can find success in the space. Get the full report → Insurance Technology Spend Forecast Insider Intelligence highlights the short-term factors that inhibited incumbents' IT/tech spend from Q1 2019 to year end (YE) 2020 and the longer-term drivers of tech spend growth in the key insurance markets of the US, the UK, and Canada. Get the full report → US Mobile Wallets in 2020 and Beyond Report Insider Intelligence sizes the mobile payments market and identifies what's driving growth across m-commerce, mobile P2P, and mobile proximity payments. The report identifies the core players at the forefront of the space and examines their path to achieving primary wallet status based on their usage, key features, market positioning, and competitive standing. Get the full report → BECOME A SUBSCRIBER Did you know the Daily is just a preview of everything Business Insider Intelligence has to offer? Our Briefing subscriptions deliver analysis on the biggest trends and decisions shaping the future of a specific industry. Stay on top and subscribe today to receive: A cornerstone industry report Daily Morning newsletters Opportunities to join the conversation Get Started Today → FOLLOW US Email sent to: newsletter@newslettercollector.com Manage your email preferences | Unsubscribe | Terms of Service | Privacy Policy © 2021 Insider Inc. 1 Liberty Plaza, New York, NY 10006