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Fintech News
From Matt Ober: In the data & information services space, it seems like the key to success is acquisitions. You have to find your wedge, your revenue, your product-market fit, but once you find it, you have to start acquiring, or “rolling up.” If you are in a position of strength, you need to use it. That is if you want to build a big business.
From Ricardo Pero, CEO of SellersFI: Up against margin pressures, corporate banks increasingly see the revenue potential from SME lending that they historically shrugged off. Marketplaces are keen to understand that providing lending services draws in and retains sellers by streamlining working capital and financial services needs in one place
From Karen Pascoe, Managing Director, Head of Design Innovation at Wells Fargo: TIn financial services, we often talk of a generational transfer of wealth as a massive opportunity. But there’s also a generational transfer of digital experience expectations.
Onsite at Fintech Meetup, The FR met with Deniz A. Johnson, COO of Stratyfy.
From Mary Ann Miller, VP Evangelist & Fraud Executive Advisor at Prove: The rapid proliferation of fraud is a serious, damaging, and costly issue. However, when institutions are equipped with the right identity verification and authentication tools and the luxury of time, there’s much that can be done.
From Romain Colnet, Ingenico: AI has the potential to revolutionize every aspect of the payment process, from fraud detection and risk management to customer service and personalized experiences.
Onsite at Fintech Meetup, The FR met with Peter Piatesky, Co-Founder and CEO of Castellum.ai.
In the last part of The FR’s series on tokenization, we’ll explore the use cases that may drive growing adoption of tokens to digitize a range of assets on the blockchain. We’ll also consider the regulatory roadblocks preventing tokenization’s proliferation at this current juncture.
From Matt Ober: Every AI company is scraping. Everyone is trying to get access to data and the question of what on the web you can scrape versus have to pay for continues to be debated.
From Alex Lazarow: As we stand on the cusp of The Great Diffusion, an era defining shift from consolidated power to a more decentralized and distributed framework, financial services find themselves at a crossroads.
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?
The FR met with Cooper Thompson, Head of Product for Embedded Finance at Fiserv.
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.
The FR met with Nikki Cross, Senior Director of Data Science Solutions at Nova Credit
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?
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