The Front Page of Global Fintech

The 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 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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Citi is building Bridges (TWIF 9/17)

Citi is building Bridges (TWIF 9/17)
- Kaamran Hafeez, New Yorker

Hello Fintech Friends,

I'll be in SF next week with our friends at  Core Innovation Capitali80GroupPacific Western Bank, and Method. Drop by if you're in town 👇

TWIF SF Happy Hour with CoreVC, i80Group, Pacific Western Bank & MethodFI · Luma
Who: Core Innovation Capital, i80Group, Pacific Western Bank, Method & SF’s best operators, investors, and founders What: Fintech Happy Hour with an open bar & light bites Where: The…

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Beyond Two Percent: Building in Emerging Markets
“One of the biggest challenges is that we’re getting significantly less funding to do so. So you’re getting less funding, but you’re expected to build like five times more, and bring these products to market as quick as effectively as efficiently.” -Jihan Abass, CEO and Founder of Lami.

Please find another week of fintech exits and deep reads below. (👍👎 Have feedback for us? Let us know!)

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📖 Read of the Week

The Financial Health Network put out their Financial Health Pulse® 2023 U.S. Trends Report.

A few interesting (and concerning) findings -

  • The share of Financially Vulnerable Americans grew to 17% in 2023 from 15% in 2022.
  • Workers at businesses with less than 100 employees were Financially Vulnerable twice as often as those working for businesses with 500 or more employees.
  • Black and Latinx Americans disproportionately experienced an increase in financial vulnerability.

☯️ Exits
🤝 M&A - Fintech
  • Citi spun out Bridge, a small business lending startup that was incubated at the bank, by selling it to commercial lending service provider Foro.
  • Broker-dealer Cetera is acquiring wealth and tax planning firm Avantax for $1.2 billion.
  • Compound, a financial and tax advisory service for tech executives, will be acquired by Alternativ Wealth, a digital RIA, to form Compound Planning.
  • Financial API and security specialists APImetrics and Contxt announced that they will merge.
  • Prepaid payments provider Recharge announced its acquisition of Startselect, a European digital gift and gaming cards company.
  • Point-of-sale lending software provider Versatile Credit received a strategic investment from PSG.
  • Financial consulting company Capgemini announced that it will acquire the Financial Crime Compliance (FCC) division of Exiger.
  • Financial advisory firm Ashton Thomas will be acquired by RedBird Capital Partners’ wealth management platform company.
  • UK financial solutions provider Alpha Group will acquire an 85% stake in Cobase, a multi-banking platform that allows users to view all their balances and transactions in one place, from ING.

🏦 M&A - Bank and FinServ
  • The UK's Co-operative Bank is taking bidders for an acquisition with an October first round deadline.
  • Blackstone will combine its internal credit and insurance businesses into one. 

🌎 Fintech Around the World

New ‘match-making’ platform launched to support Jersey’s Fintech ambitions

📚 Deeper Reads & Features

Visa: A deep dive on Solana, a high performance blockchain network

Fintech faces its reckoning: It’s only a matter of time until the house of cards collapses

Visa highlights emerging fraud schemes in retail and e-commerce

‘Almost All Loans Are Bad’—Why Banks Aren’t Lending

New laws for digital assets in Europe – what to expect

Credit invisibility: Why businesses must help make people seen

Low-key but lucrative: meet the fintechs on a mission to transform creaky back offices

Jamie Dimon warns investors over bank stocks if US capital rules enacted

More golden retrievers to help you end your week

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