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Simon Taylor, co-founder at 11:FS, reports that leadership teams at three different banks—including two very large institutions—are currently alarmed by Muse.
According to Taylor, these banks believe Muse represents a real threat to the safety and soundness of banking, potentially leading to disintermediation. He suggests that the situation is becoming so significant it may develop into a lobbying battle, with Meta being framed as a challenger to the stability of the industry.
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Simon Taylor has previously highlighted Anthropic's plans to build in-house billing and treasury technology, viewed as competition for established players like Stripe, in a recent report. He also reported on Split Pay's $125 million raise to help renters defer half their rent for 30 days, addressing wage and bill timing issues in the U.S., in an earlier article. Taylor's coverage often focuses on emerging fintech developments seen as disruptive by traditional institutions.