Arta and Robinhood Want to Reboot Banking

Platforms, such as Arta Finance and Robinhood, want to shake up the banking landscape by offering features that appeal to younger customers.

Why It Hits: The full power of a bank — wealth management, investment insights, and tax advice — is typically too analog and too inaccessible to young people who have been raised on smartphones. While the big banks have been trying to modernize their technology to keep up, startups that can capture customers early in their financial journeys may be positioning themselves for long-term growth in a highly competitive market.

Behind the Apps: Do you want a bank in your pocket?

• Robinhood is rolling out Robinhood Banking (a full-service digital bank) and Robinhood Strategies (a wealth-management platform).
• On top of normal banking and financial services, the tools include AI-powered investment advice, a DoorDash-like cash-delivery service, and discounted helicopter rides (in case you want to fake baller status).
• Arta— led by former Google exec Caesar Sengupta and backed by ex-UBS CEO Ralph Hamers — debuted a chatbot tool designed for Gen Z that provides personalized investment advice.
• The chatbot, which is only available to accredited investors, can speak to young customers in their native tongue, saying things like, “Low-key gonna break down ur investment plan rn,” and “No cap, ur portfolio is fire!” (yes, it’s objectively hilarious).

Final Balance: Can platforms like Robinhood and Arta shake up the financial sector? Robinhood was instrumental in democratizing stock investing for a new cohort of customers, so we wouldn’t be surprised if Gen Z gives it a shot. And Arta wants to license its tech to other banks, so you may soon see a JPMorgan Chase chatbot trying to rizz up your investment strategy. So, yeah, a vibe shift is coming for banking… but it’s okay to be a little sus about it.