Inside Overstock.com’s financial services strategy

Add Overstock to the major retailers blurring the lines between retail, technology and financial services.

For the past few months, the 19-year-old e-commerce company has been quietly building out FinanceHub, a sort of marketplace for financial services that includes existing Overstock credit cards and insurance products; loans by LendingTree, Prosper and Sofi; a robo-adviser for automated investing, as of last week — and as of Tuesday morning, a discounted trading platform.

The platform and Overstock’s broader financial services “strategy” is nothing more than a natural extension of the company’s retail function, buying and selling consumer goods, according to Raj Karkara, Overstock’s vice president of loyalty and financial services.

“It’s all about providing the best value to the consumer: best in class products and experiences. The experience part is something that traditional financial institutions haven’t focused on but they’re turning that around now,” he said. “Consumers don’t want to sit and sign 50 documents, they just want to go online and get through the steps they need to take to move forward.”

Read the full story on tearsheet.co

https://digiday.com/?p=275112

More in Marketing

Marketing Briefing: Marketers test retail media even more as the third-party cookie crumbles

For marketers who weren’t as keen to spend on retail media networks previously, the first-party data pitch of retail media networks is now more appealing.

Ad execs enter crucial phase of Google’s Privacy Sandbox experimentation

Ad execs are diving into three major areas of the Privacy Sandbox without tweaking a thing. It’s all about tracking outcomes for them.

Special report: The third-party cookie primer

A catch-up on all things third-party cookies.