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.

Image Description

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.

Image Description

Fintech had a great week, thanks to open banking and AI (TWIF 10/20)

Fintech had a great week, thanks to open banking and AI (TWIF 10/20)
The opening panel at our CDMX Fintech Trek, featuring Nubank, Revolut, Ualá, and Klar - hosted at Visa's CDMX Office.

Hello Fintech Friends,

It's been a momentous week for fintech, as it usually is this time of year.

Right in time for next week's Money20/20 USA conference, the CFPB proposed open banking regulation in the US. This has been a long time coming; in another life when I was at Petal, I ran around Capitol Hill with the teams from Plaid, MX, and FDATA, petitioning for fair financial data access with regulators and legislators. But now that peoples' ownership of their financial data has been codified, what does the future look like for fintech in the US? More on that soon.

In the lead-up to the conference, we've also seen a huge number of new fintech launches this week! (Many of them including AI, which makes me feel more and more like AI isn't a strong enough differentiator for new businesses to develop moats against larger fintechs.)

This week, I've been in Mexico City with our colleagues from Quona meeting with 190+ of the LatAm fintech ecosystem's best entrepreneurs, investors, and leaders on our annual Fintech Trek.

You can read more about it here and sign up for the next one at I'll have a longer deep-dive on our takeaways out in a few weeks.

(PS: Sign up for our LatAm fintech edition!)

This coming week, I'll be at Money20/20 USA for our kickoff event:

Money2020 Kickoff · Luma
Who: Activant, Shearman, MethodFi, Column Tax, Vartana, and Taktile What: Money2020 kickoff with an open bar & light bites Where: TAO Asian Bistro & Nightclub When: Sunday, October…

And then speaking on fintech investing at the RAISE GP / LP Summit. Please say hi if you're at either!

Why subscribe to This Week in Fintech?

• Join other execs from Visa, Plaid, Stripe, Robinhood, Revolut, Chime, Rapyd, and more to get the latest insights and deep dives.
• Learn from and collaborate with the world's largest fintech community, with 75,000+ members.
• Memberships start at $10 per month.

Join today.

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

Sponsored Content

Hit the ground running with industry-seasoned professionals already building technology for the future of Finance.

  • Our candidates are pre-vetted for English proficiency, technical and soft skills
  • Tech Talent with experience in: Data Security and Compliance, Legacy System Integration, Data Management, Cybersecurity and more
  • Hire in as little as 2 weeks with a 94% offer acceptance rate

Want to sponsor a newsletter? See our sponsorship information here.

💼 Fintech Job of the Week

Fleet finance platform Coast is looking to hire a Senior Full-Stack Engineer!

🏦 Financial Services & Banking

As mentioned, this week, the US' CFPB proposed new rulemaking to codify financial data ownership for consumers and kickstart open banking competition in the US.

Marching from the same beat, Mastercard announced a new partnership with FIS' merchant solutions business Worldpay and buy-now-pay-later provider Zip on open banking financial tools.

Australian banks formed a consortium to launch the ConnectID project, a new digital identity network.

India's Axis Bank partnered with fintech Fibe to issue a new numberless credit card.

The UAE is launching its own national domestic card scheme to compete with the likes of Visa and Mastercard.

Never one to miss a trend, Goldman Sachs is piloting a new generative AI banker to meet with clients. (While the SEC warned that AI could 'cause a financial crisis.')

The US' Federal Reserve is expected to lower the debit card fee cap (from 21 cents plus 0.05% of the transaction cost to less).

Bank of America's stock is doing quite well off interest income earnings this year.

The UK's FCA fined Equifax £11 million over its major 2017 consumer data breach.

Barclays' mobile banking site went down for two hours on Tuesday.

💻 Fintech
🚀 Product Launches

Argentinian banking, savings, and crypto exchange platform LetsBit* launched a new corporate product for companies to bank in pesos or USD.

Financial routing engine builder Astra* launched the first end-to-end FedNow payment solution in the US.

B2B payments provider TreviPay launched its Financial Partner Gateway, a new suite of APIs for financial institutions looking to expand commercial offerings.

Open banking platform Teller announced that it now provides connectivity in the US to over 5,000 banks.

Payroll platform Deel launched an AI-powered HR assistant for global hiring.

French bank BNP Paribas launched its own standalone fintech company, Panto, for for orchestrating marketplace payments.

Kasssh, a new solution for paying with cash online, launched in the UK.

Kasssh – Simple, Safe and Smart.

Extend added AI-powered receipt matching for faster expense categorization.

Roadsync launched a logistics platform with real-time payments.

Sweat Economy, which helps people tokenize their physical activity, launched in the US.

FinanceHQ launched out of stealth to help match individuals and financial advisors.

Sponsored Content

Ever dreamed of seeing your company logo in Times Square? Tell us how your data-powered fintech is redefining the investment and wealth sector for a chance to win a full VIP guest experience at Nasdaq MarketSite. 

Enter now to win this once-in-a-lifetime opportunity.

Want to sponsor a newsletter? See our sponsorship information here.

📰 Other News

Digital mortgage broker Habito recorded its first-ever monthly profit.

A US federal judge has dismissed all Dodd-Frank law violations claims against mortgage platform Better.

Business funding provider Accelerated Payments hit its €1.5 billion business financing milestone.

B2B buy-now-pay-later player Mondu registered with the FCA and went live in UK

After launching in Mexico without one, Nubank will now seek a banking license.

🤝 Partnership Corner

The UK's TrueLayer inked a new partnership with Stripe on open banking payments, while banking software conglomerate Fiserv set up a new partnership with Plaid on data-sharing.

Fondeadora's payment cards will now be available on Google Wallet.

Fanny Mae will integrate payroll and employee data API Argyle* into its mortgage decisioning.

Embedded issuer Marqeta signed a partnership with European buy-now-pay-later provider Scalapay to issue cards online and in-store.

👎 The Bad News

Payments provider Modulr agreed with UK regulators to stop onboarding new customers.

Lending Club is cutting 14% of its workforce due to interest rate pressure on its loans.

The founder of college savings app UNest says that the company is insolvent and is resigning.

After being sued by its Series B investor, FTV, for overstating revenues, banking-as-a-service platform Solid is countersuing.

Banking-as-a-service platform Synapse and partner bank Evolve are going through a nasty breakup, as each claims that the other owes it money.

Binance stopped accepting new customers in the UK.

Paytm's payments bank in India was fined about $650,000 for KYC lapses.

Voyager Digital's CEO faces a massive fraud lawsuit over missing crypto assets.

The New York Attorney General is suing crypto firms DCG and Gemini for allegedly defrauding investors out of $1.1 billion.

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