SoFi reported earnings today for Q4 2023 and it was a blowout quarter despite the challenging macroeconomic environment. The big story was the company achieving profitability (officially GAAP net income profitability) in Q4, a first for SoFi. There was also a 35% year-over-year increase in adjusted net revenue, reaching $2.1 billion, and a significant boost […]
It is a bold or naïve CEO that prefaces a major announcement with the words, “This will shock the world”. New PayPal CEO Alex Chriss said exactly that in his first public interview since becoming CEO. That was a week ago and he was referring to major announcements that would happen at the company’s Innovation Day that […]
The SEC’s new cybersecurity rule is designed to protect investors and ensure companies take security seriously. But it creates as many questions as it answers. Public companies must report material cyber incidents within four days. They must also describe its impact, including whether data was publicly disclosed and the steps they took to mitigate the […]
In a Nutshell The article explores the transformative evolution of payment rails in finance, predicting a reshaped landscape with key trends such as e-commerce surge, Open Banking adoption, and real-time payment shifts. It delves into unbundling financial services, the rise of innovative providers, and dynamic changes, examining the influence of open banking, real-time transfers, Super […]
In 2023, M&A activity fell to its lowest level in ten years, as high interest rates and a global economic slowdown dragged down dealmaking. Specifically, total M&A deal flows fell by 18% to about $3 trillion, the lowest amount since 2013, according to Reuters. That slowdown has impacted all sectors, including fintech. Despite this challenging environment, a meaningful […]
What sets Fintech Meetup apart from every other fintech conference is their meetings program. I participated in it last year and I couldn’t believe how smoothly it all went. This, despite the fact that they completed something like 30,000 meetings. When I walked into the main meetings room with 700+ tables the energy was palpable. […]
Enjoying our podcasts? Don’t miss out on future episodes! Please hit that subscribe button on Apple, Spotify, YouTube, or your favorite podcast platform to stay updated with our latest content. Thank you for your support! Amalia Avramov, President of Financial Services of Amdocs Even though banks have been going through digital transformation now for a decade or more there […]
You could say Banking as a Service is under siege. The number of severe enforcement actions BaaS banks received skyrocketed in 2023 to 13.5% of the total. When you consider there are probably only around 100 banks out of 4,800 that are involved in banking as a service, you can see why this number is disturbing. And […]
A $200m equity raise at a valuation double the previous round? No you did not wake up in 2021 this morning, it is (checks watch) definitely January 2024. I was just chatting with someone earlier this week about equity raises and I commented that there seems to be much more activity this month than in January 2023. […]