Uber launches into financial products with a rookie in New York

Mobility giant Uber is seeking to accelerate the creation of financial products with a new financial technology outpost in New York, according to people familiar with the project.

The traveling company aims to hire dozens of engineers and product managers this year, and the New York team could eventually have more than 100 workers, said the group, who refused to identify themselves on the plans. Uber.

Uber, fresh from his IPO last month, is looking to tap into New York's talent pool, which is richer in fintech and bank staff than his hometown of San Francisco. By developing its financial ecosystem, the company can strengthen its lead over rivals like Lyft. According to people who attended a recruitment event earlier this year, efforts will likely focus on ways to increase engagement and loyalty to the Uber platform.

Payments Manager, Peter Hazlehurst, and Senior Engineer, Johnie Lee, spoke at the event held in Uber offices in New York City, indicated the officials.

Uber could offer many innovations in payment and lending: 93 million active users around the world, most of whom use badociated credit cards or finance a portfolio called Uber Cash to pay for walks and delivery of food.

The financial products team looks at two main areas: building "payment experiences" that encourage consumers and consumers to use Uber or remove system costs and help entrepreneurs manage the money they earn, according to a job offer.

This corresponds to products already published by Uber, such as Uber Cash, which includes discounts when a user finances his portfolio, his Uber Rewards loyalty program and his co-branded credit card. On the other side of the service, Uber allows drivers to be paid five times a day instead of waiting for weekly paychecks.

An Uber bank account is a more radical possibility, according to a person familiar with the subject.

The creation of a bank account has been the subject of extensive discussions at Uber, but could take years, otherwise the company could decide not to do so, said this person. Uber relies heavily on the banking system to get paid and pay drivers, and could eventually eliminate intermediaries from his own bank.

That's a reasoning similar to that of another tech giant, Amazon, who reportedly hired banks such as J.P. Morgan Chase to explore the possibility of creating a checking account for their clients. If she were looking for a bank account, Uber would likely badociate with an existing bank insured by the FDIC rather than obtaining her own charter. Most financial technology companies rely on a small group of institutions such as Cross River and Celtic Bank to offer banking services.

Uber is currently looking for larger excavations in New York, looking for a block of 300,000 square feet of office space, Crain's New York announced. Noah Edwardsen, a spokesman for Uber, declined to comment on this story.

– With reports from CNBC's Steve Kovach