With the rise in inflation in recent years, fintechs in Latin America have resorted to a new tactic to woo highly banked customers in the region. That is, paying high-yield interest rates on deposits in a region characterized by volatile currencies and meager returns on bank savings. In May, Brazillian digital bank Nubank launched a […]
“In today’s economic climate, every business is navigating two competing interests: expanding operations and saving costs,” said Jack Zhang, Co-Founder and CEO of Airwallex. The last few months, (nay, year), have posed increased challenges on growing businesses in fintech. The rising rate environment has put a strain on the financial system. Costs are increasing and, […]
According to Cornerstone’s 2023 What’s Going On in Banking report, 94% of banks have already embarked on a digital transformation strategy—or plan to do so by the end of 2023. This is a pretty convincing data point, and it leaves little doubt that FIs are doing everything they can to modernize. And yet very few […]
The ongoing lack of regulatory clarity has become an ever-piercing thorn in the side of US-based crypto companies. As 2023 rolls out, more and more are becoming the subject of SEC scrutiny, with allegations of legal violations surfacing left, right, and center. Even the sector’s giants aren’t safe. The legal case between the SEC and […]
In a region marked by the substantial Venezuelan diaspora, catering to financially excluded immigrants has become the core business of an increasing number of fintechs. Over the past few years, several digital startups have made a case for offering financial services to underbanked immigrants, a customer segment often overlooked by traditional financial institutions. In Latin […]
Hi guys, welcome to the Fintech Coffee Break, I’m your host Isabelle Castro. This week I shared my coffee break with Stacy Greiner, COO at DailyPay. DailyPay is a forerunner in the US and wage access space. Working with employers all over the country, they empower them to offer their employees access to wages they […]
America’s ecosystem of over 4,500 banks is an anomaly in the global landscape. Other countries’ banking numbers barely reach 500. However, banking has been going through a shift, and in 2023, the threat to smaller banks is increasing. In the 2023 Cornerstone Advisors “What’s Going On in Banking” survey, threats were registered from all sides. While the perception of […]
Cashflow underwriting is an area that fintechs have explored extensively, outlining that credit scores pose a limited picture of consumers’ financial health and can do more harm than good. “The system is broken (or inequitable is more appropriate),” said Lauren Crossett, CRO of Pinwheel, during a Fintech Coffee Break episode earlier this year. “Consumers are […]
When it comes to running an e-commerce store there is no bigger name than Shopify. They have been helping entrepreneurs run all aspects of their e-commerce business for well over a decade. And in recent years they have quietly built up an impressive suite of financial products. Vikram Anreddy of Shopify My next guest on […]
Student loans have become a fundamental part of accessing higher education. Data shows that while average college tuition fees have remained stable for the past decade, they have almost tripled in the last 30 years. The average cost is over $36,000 per year for a full time student. Currently, over half of students at college […]