Diversity in Fintech https://www.bloomberg.com/opinion/articles/2021-06-01/personal-finance-fintech-apps-like-robinhood-are-leaving-women-behind 

Feedback on diversity from last podcast 

Issue of women being left behind

De-SPACs and IPOs 

Sofi - huge debut, then announced availability of IPO shares on their platform for other SPACs.  Katapult - lukewarm 

Marqeta - massive valuation, 

Interesting to note that Marqeta chose to go the traditional route rather than SPAC - CEO makes reference to that in interviews 

Leading Change

https://www.protocol.com/newsletters/protocol-fintech/overdraft-fees-ally?rebelltitem=1#rebelltitem1 

Fintechs aren’t just making waves on Wall St. - they are prompting legacy FIs to make changes to keep up with how they serve customers. 

Mel: Fintechs are definitely playing a role in putting pressure on legacy banking institutions. We saw this happen when Schwab, TD Ameritrade, and others eliminated trading fees once Robinhood and no-fee trading platforms gained traction and then last week when Ally eliminated overdraft fees.  challenger banks like Chime, etc. 

What else should we expect? 

Open banking, control of data, 

Acronym of the Week: NFT 

There are so many in Fintech, it can be hard to keep up. Let’s pick one everyone is talking about. NFTs. 

Mel: explains Non-fungible tokens 

Wrap up

This podcast is for information and educational purposes and should not be used as investment advice. Please see an investment professional.