Fintech News
Coverage of all the relevant fintech news. We distill the trends from daily headlines so you don’t have to.
From Nelson Chu: Recent economic headwinds and rising competition have sparked talk of private credit’s "golden era" ending, but this asset class remains robust. Investors drawn to its income potential, market resilience, and potential diversification benefits recognize its long-term value.
In this next part of the series, we’ll dive into what this means for fintech and financial institutions. If digital assets are treated as assets, period, how does this shape the financial landscape? And why would these parties buy into such a nascent technology?
The FR met with Reed Luhtanen, Executive Director and CEO of the US Faster Payments Council.
From Carey Ransom: Now, we reach a vital question: "Can this really work?" Based on my observations and experiences, a successful pivot hinges on a blend of culture, process, people, and timing. When these elements align, the results can be remarkable.
If I had started writing this article three years ago, I’d be reporting on the buying frenzy surrounding non-fungible tokens (NFTs), blockchain-based proofs authenticating the uniqueness of digital objects, namely artwork. But now it’s 2024.
From Carey Ransom: I’ve discussed the initial steps of making a pivot in your fintech startup. In this article, I’ll try to help you with one of the biggest changes you’ll need to undertake—the team.
CFPB Chair Rohit Chopra refused to speak directly to Capital One and Discover, but said he was thinking about “large issuers . . . that compete in a number” of niche credit card markets. Wink wink, nudge nudge.
For fintechs: What does it mean if a behemoth like Goldman Sachs can’t handle consumer-focused banking and wealth management services simultaneously?
From Carey Ransom: In Part I, I described what might be motivating the pivot and some key questions to consider. Now we’ll proceed in Part II with the assumption that enough answers have led to a pivot being a plausible idea. There will be a number of changes that the startup will need to make to successfully execute the pivot. Here we go!
The FR met with Srikanth Geedipalli, SVP of AI Product Management and Commercialization at Experian
From Matt Ober: AI is feeling very similar to the cloud rush many years ago. At first, AI is a differentiator for companies, but eventually it becomes table stakes.
In an interview with The Financial Revolutionist, Margaret Weichert, Chief Product Officer of The Clearing House, suggests that RTP volume growth will only accelerate, centered around five B2B and B2C use cases that may help RTP outperform FedNow over the long run.
From Carey Ransom: Recently, we’ve seen a number of consumer fintech startups pivot from going directly to consumers to trying to sell to banks or through them to reach consumers—or, as we would say, from B2C to B2B2C. Can it work as a better strategy and business, or is it desperation?
Many DeFi consumers engage in the space due to its pseudonymous capabilities; that becomes nearly impossible when social security numbers and other identifiers enter the mix, and when DeFi platforms have to adjust for record-keeping and reporting requirements.
From Alex Lazarow: I can’t believe it’s been a year since the SVB collapse and the banking crisis. What has changed? What have we learned?
From Sarah Biller: Could the adoption of generative AI by financial services ironically drive a new period of information asymmetry in the markets and, by doing so, open another frontier for fintech innovation?
The CFPB—at least in its current form—may attempt to rally public opinion around its idea of digital wallets and their underlying risks.
Ripple is positioning itself as a bulwark against regulatory encroachment, with its legal future indistinguishable from the sector’s.
Onsite at Fintech Meetup, The FR met with Tatyana Kratunova, Head of the FIS Fintech Accelerator Program.
With Mastercard opting to make its latest tie-up with Alipay but not Tencent, might Visa opt to partner with Alipay’s competitor?
What sort of antitrust implications arise when the world’s largest social media conglomerate partners with the world’s largest e-commerce company? How does it affect consumer and business wellbeing?
Do these ETFs, like the cryptocurrencies undergirding them, require more investors to buy into their vision in order to become successful and profitable?
Onsite at Fintech Meetup, The FR met with Michele Alt, Co-Founder and Managing Director of Klaros Group, and a former regulator at the Office of the Comptroller of the Currency.
From Matt Ober: In the financial industry, some of the best datasets were contributory datasets and many of them started as give to get.
President Biden has indicated that he would sign the bill if it also passes in the Senate—but questions remain, many of which directly impact the future of fintech.