The Front Page of Global Fintech

The largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

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The Front Page of Global Fintech

The largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

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75k and growing🚀 (TWIF 10/6)

75k and growing🚀 (TWIF 10/6)
JFK, RFK, and Jackie O - Georgetown, May 1954

[Editor's note: Our publisher, Ghost, is experiencing material bugs and publishing issues at the moment – we'll include a well-formatted version of the weekly news in tomorrow's fundraising update as well.]

Hello Fintech Friends,

Welcome back to the 75,000+ fintech builders and enthusiasts who subscribe to This Week in Fintech. We’re ecstatic about how quickly our community continues to grow and proud to have you with us!

If you’re not a member already, I hope you’ll join our online fintech community (7.6k+ members strong) and as always, let us know what we can improve.


Have you picked up your tickets to Fintech Formal yet?

This year, along with our sponsors Bain, Paytient, and Wolf & Co, we’ll be bringing 500+ of our fintech friends back to a new, secret location in New York.

What to expect:

  • Black tie apparel (dress to impress)
  • 3 floors of drinks, dancing, networking, and surprises
  • Surprise guest appearances
  • Almost half of all tickets sold out - fintechformal.com/rsvp
  • Want to get involved? Let us know at sponsor@thisweekinfintech.com

In two weeks, well also be hosting 70+ international founders, investors, and leaders in Mexico City for three days of deep immersion in the CDMX fintech ecosystem.

Thanks to our partner Quona Capital and our sponsors CIM, Gunder, Ensemblex, and AWS Startups for making this year's Fintech Trek possible.

CDMX Fintech Happy Hour, presented by Ensemblex & AWS · Luma
We are excited to invite you to our CDMX Fintech Community Happy Hour! Thank you to our partners at Ensemblex and AWS for making this a reality. Co-hosted by This Week in Fintech and Quona…
💡
Fintech Outlook Survey
What’s your outlook on the fintech industry? The TWIF team is kicking off a bi-yearly community survey and we want your insights! Fill out this (optionally anonymous) 5-minute survey by Oct 16 for a chance to win an annual paid subscription to our paid newsletter, Signals.

Please enjoy another week of fintech and banking news below. (👍👎 Have feedback for us? Let us know!)


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💬 Quote of the Week

🏦 Financial Services & Banking

🚀 Product LaunchesLloyds Bank rolled out their own digital ID app to let individuals prove their identities from their phones.American Express is launching biometrics as part of online checkout.Experian launched a new digital checking account and debit card, dubbed Smart Money, in order to proactively identify bill payments that could be used to increase consumer credit scores.Samsung also launched its own AmEx card with a chip that lets it be physically tracked.The Federal Reserve Board launched its own Instagram and Threads accounts to make Fed announcements more easily accessible - to the youth.📰 Other NewsWith bipartisan support, the Senate Banking Committee moves a landmark bill that will allow cannabis businesses to obtain banking services to the Senate floor. A group of central banks are exploring whether it’s possible to embed regulatory requirements into cross-border transactions.💻 Fintech🚀 Product LaunchesEmbedded virtual card provider Lithic launched bank accounts and ACH payments.Pepper Money in India partnered with the National Payments Corporation of India and Pine Labs to launch the Pepper Money Dreams Card.Saldo, a Finnish fintech, is launching banking services beginning with savings.Coris launched a merchant risk infrastructure operating system.📰 Other NewsApple's wallet app will now let you see real-time account balances from any bank in the UK in your wallet.Revolut finally struck a deal with its investor Softbank that will let it obtain a UK banking license.Corporate spend and expense management platform Tribal Credit announced its expansion to Saudi Arabia.Coinbase is quietly adding new payment institution licenses around the world, with the latest in Singapore, as well as a new custody license in Spain.PayPal users can now add their debit and credit cards to Apple Pay. PayPal's stablecoin (PYUSD) is also now ready for use on Venmo.

Canadian debit network Interac expanded access to its e-Transfer service beyond regulated banks and credit unions to fintechs.Want to see Screenshots of WhatsApp’s Indian payments experience?

WhatsApp users in India can now make payments within the app

🤝 Partnership Corner

Lithuanian small business lender SME Finance partnered with open data risk-assessment platform Okredo on providing pre-scored credit limits.

UK cash deposit platform Flagstone partnered with Saga on a savings platform for older adults.

👎 The Bad News

The UK's FCA is probing Revolut over letting money be sent to accounts flagged as suspicious.

A federal judge has ruled that Apple must face an antitrust lawsuit over restricting payment methods in apps to Apple Pay.

Two more women filed lawsuits against Carta, last valued at $7.4 billion, for sexual discrimination.

The UAE's regulator ADGM levied a $486,000 fine on Pypl for anti-money laundering violations.

Chainalysis is laying off 150 employees as the crypto winter reduces activity on its platform.

PayPal was hit with a class-action lawsuit accusing them of anticompetitive "steering" to make consumers pay excess charges.

Weavr, a fintech infrastructure developer, announced it will shut down its open banking payments app Comma.


Come meet us in-person at fintechhappyhour.com, and join our angel investing syndicate.