While AI chatbots have been around for several years, with the rapid AI advances of the past 18 months, they are reaching a new level of usefulness.
We are entering the thick of fintech earnings season and in the last 24 hours, we have seen earnings from two fintech pioneers: PayPal and Adyen.
They tell very different stories.
If you are not paying attention to Nubank, it is time you did.
Last week the Latin American fintech leader released their Q4 and full-year earnings and it was another very solid report.
UK digital banking pioneer Monzo reported its financial results for the 2023-24 fiscal year today.
The numbers are impressive. Total revenue was £880 million for the year, more than 2x the £356 million from the previous year.
Every quarter TransUnion releases its Credit Industry Insights Report. Their latest issue, released earlier this month, has some very interesting data.
It was three ago last week when LendingClub closed its acquisition of Radius Bank. At that time LendingClub entered into an operating agreement with the OCC that imposed capital restraints and growth limits on the fintech pioneer.
Stripe has, for some time, been one of the leading fintech companies globally when it comes to scale.
But the numbers it revealed today in its annual letter are truly staggering. It processed $1 trillion, around 1% of global GDP, through its platform in 2023. It crossed that milestone just 15 years after it was founded.
The fintech soap opera that is the Synapse saga took another turn yesterday.
We learned less than three weeks ago that TabaPay was acquiring Synapse out of bankruptcy. Now, that deal appears to have fallen apart as disagreements between Synapse, Evolve Bank and Trust and Mercury remain unresolved.
When it comes to the adoption of generative AI in finance, we are still at the top of the first inning.
That is why it was really interesting to read Penny Crosman's article yesterday about what is top is mind for bankers when it comes to Gen AI.
We have been following the recent developments in real-time payments with some interest. While adoption is increasing it is not going as fast as many industry observers had hoped.