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Insider asked 34 top fintech investors to nominate the most promising startups. VCs highlighted startups that haven't raised more than a Series C.Behind-the-scenes firms, payment and compliance startups dominated this year's list. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Insider surveyed 34 early-stage investors — including Bain Capital Ventures, Point72 Ventures, and Index Ventures — about the hottest fintechs to watch. There were also several sustainability-focused startups, offering everything from electric-vehicle financing to marketplaces for financing renewable-energy projects.

Persons: VCs, we'll, Mark Peter Davis Organizations: Service, Bain Capital Ventures, Point72 Ventures, Ventures, Interplay, Bank Locations: Wall, Silicon

Insider asked more than 30 top fintech investors to nominate the most promising startups. VCs highlighted startups that haven't raised more than a Series C.Here are the 54 most promising fintechs. Insider surveyed 34 early-stage investors — including Bain Capital Ventures, Point72 Ventures, and Index Ventures — about the hottest fintechs to watch. As was the case last year, fintechs that sell to businesses, as opposed to those that serve consumers directly, dominated the list. Check out the 54 fintechs identified as most promising by top investors.

Persons: VCs, we'll, Mark Peter Davis Organizations: Bain Capital Ventures, Point72 Ventures, Ventures, Interplay

☆ How payments giant Mastercard is revamping is work culture to lure developers — from free days to work on passion projects to $200,000 salaries
▼ + stars: | 2023-06-29 | by ( Paige Hagy | ) www.businessinsider.com time to read: +5 min

Mastercard is hiring tech talent across 7 global technology hubs. The payments firm wants software architects and talent in crypto and AI, among others. Mastercard wants to be a firm where technologists are excited to work. The qualifications and responsibilities listed on Mastercard tech job postings are intentionally vague so as to attract a diverse pool of talent with broad skill sets, Cummins said. They can also work remotely from anywhere for up to four weeks per year with the "Work from Elsewhere" benefit.

Persons: Oran Cummins, Cummins, It's Organizations: Mastercard, Mastercard Mastercard Mastercard, LinkedIn, York, Tech, New York, Flatiron District, Employees Locations: New York, Dublin, Sydney, Vancouver, Mastercard's, Flatiron

☆ The only winners on Wall Street seem to be the interns — with some earning nearly $20,000 a month
▼ + stars: | 2023-06-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +3 min

Intern pay on Wall Street is on the rise. The median wage for interns at Citadel and Citadel Securities is reportedly $120 an hour. There's lots to be concerned about working on Wall Street these days. Median intern pay has risen by 19% among some of the top finance firms, according to a Bloomberg report citing data from Levels.fyi. (Insider's Emmalyse Brownstein has you covered on all things Wall Street internships, from how to nab a return offer to what to wear to the office.)

Persons: Ken Griffin, Insider's Paige Hagy, Brownstein, that's, Alex Morrell Organizations: Citadel, Citadel Securities, Bloomberg, Take, nab, Bank of America Locations: New York City

☆ The free lunch is over for Wall Street's programmers
▼ + stars: | 2023-06-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

For as long as I can remember, the safest place on Wall Street for job security was in tech. But according to one Wall Street billionaire, that sentiment won't hold true for much longer. As Insider's Paige Hagy reports, Griffin instead highlighted how programmers need to position themselves to provide the most value to companies in this post-ChatGPT world. In the before times (pre-ChatGPT), no one was really questioning the value programmers were adding. At least that's the take from Wall Street vet Marty Chavez.

Persons: Dan DeFrancesco, Pharrell Williams, we've, BlackRock's, I'm, Wutthichai, Ken Griffin, Griffin, Griffin wasn't, Insider's Paige Hagy, it's, Read, Flo Rida, Drake, Tommaso Boddi, Erica, John Waldron, Kim Kardashian, Marty Chavez, he's, Ray Dalio, Everybody's, Jeffrey Cane, Nathan Rennolds Organizations: Bank of America, Wall Street, BlackRock, Goldman, SKKY Partners, Wall, Bridgewater, LinkedIn Locations: NYC, London, BlackRock, New York

☆ Bank of America is boosting bankers' productivity with an AI-powered tool that helps them research their clients
▼ + stars: | 2023-06-08 | by ( Paige Hagy | ) www.businessinsider.com time to read: +3 min

Banker Assist is an AI-powered tool used by BofA bankers to collect, record, and review client data. Many people have heard of Erica, Bank of America's virtual assistant for its retail banking customers, but few are familiar with its internal-facing application, Banker Assist. Bankers spend a lot of time researching their clients. "On-us" data refers to data the bank owns, and "off-us" data refers to third-party data, like government filings. The tool has over 700 users and can "save hours of research for each client brief," a Bank of America spokesperson told Insider via email.

Persons: Erica, Rob Pascal, Pascal, hadn't, —, We've, ChatGPT, Morgan Stanley Organizations: Bank of, Bank of America, Bankers, of America

☆ Billionaire Ken Griffin says good programmers' days are numbered. Here's what will make a coder stand out.
▼ + stars: | 2023-06-08 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

Ken Griffin spoke to the newest class of Citadel interns at the Four Seasons on Tuesday. The CEO said generative AI is changing the game and it's harder than ever to stand out as a programmer. Billionaire Citadel founder Ken Griffin says the days of the good programmer are numbered, and generative AI is the reason why. "Programming is going to be a big target for generative AI," Griffin said, according to people who heard him speak. The days of 'I'm a good programmer' are becoming numbered."

Persons: Ken Griffin, Griffin Organizations: Citadel, Citadel . Billionaire Citadel, CNBC, Citadel Securities, NASA, US Army Locations: Fort Lauderdale, Wall

☆ Here's the 18-page deck a fintech looking to broaden access to private credit used to raise a $30 million Series B
▼ + stars: | 2023-06-07 | by ( Paige Hagy | ) www.businessinsider.com time to read: +5 min

It supports borrowers, investors, and underwriters with its software solution. This startup is building a digital solution for the historically analog world of private credit. Private credit is an alternative asset class consisting of loans privately negotiated outside of the public debt markets. Examples of private credit include student loans taken from outside the government, small-business loans, and consumer loans. "We're ready to scale in a market and a time right now that is all in favor and support of private credit," Chu said.

Persons: Nelson Chu, Chu, it's Organizations: underwriters, Goldman Sachs, Management, White Star Capital, Underwriters, Fitch Group, Juniper Locations: Chu

☆ Citadel's red-hot run has led to a new problem: It's harder than ever to nab an internship there
▼ + stars: | 2023-06-05 | by ( Paige Hagy | ) www.businessinsider.com time to read: +6 min

Billionaire Ken Griffin's Citadel internship program is attracting more students than ever before. Citadel, the $57 billion hedge fund, and market maker Citadel Securities recruit hundreds of undergraduate and graduate students every year for an 11-week summer internship program. The internship starts Monday, with a kickoff week at the Four Seasons in Fort Lauderdale and Palm Beach. "We think of campus recruiting very much the same way that other firms think of executive recruiting," Mitro said. "All of it is geared towards simulating what life would be like for them if they were to join the firm," Mitro said.

Persons: Ken, Matt Mitro, Griffin, Mitro, It's, it's, commerciality, UT Austin — Organizations: Citadel, Citadel Securities, New, Wayback, NASA, US Army, MIT, UC Berkeley, Harvard, Stanford, Princeton, UT Austin, Mathematical Association of America, Intercollegiate, Discover Citadel Locations: Fort Lauderdale, Palm, Citadel, Miami, New York City, Singapore, Paris, Palm Beach, New York, Chicago, London, Hong Kong

☆ Percent is looking to digitize the analog world of private credit. Here's the 18-page pitch deck it used to raise a $30 million Series B.
▼ + stars: | 2023-06-02 | by ( Paige Hagy | ) www.businessinsider.com time to read: +5 min

This startup is building a digital solution for the historically analog world of private credit. Private credit is an alternative asset class consisting of loans privately negotiated outside of the public debt markets. Examples of private credit include student loans taken from outside the government, small-business loans, and consumer loans. Digitizing an analog marketplaceThe private-credit market traditionally operates in an analog system, with deals being conducted over phone calls and emails and monitored on spreadsheets. "We're ready to scale in a market and a time right now that is all in favor and support of private credit," Chu said.

Persons: Nelson Chu, Chu, it's Organizations: underwriters, Goldman Sachs, Management, White Star Capital, Underwriters, Fitch Group, Juniper Locations: Chu

Hamza Fodderwala of Morgan Stanley's pick: Palo Alto NetworksPalo Alto Networks stock over the last 12 months, as of May 25 Markets InsiderTicker: PANWPrice target: $255We think Palo Alto Networks is going to be the first $100 billion market cap company in cybersecurity, or about a $300 stock, within two years. In our view, Palo Alto Networks is the best transformation story in software since Microsoft. In recent years, they've really modernized a lot of their security offerings for the cloud and they have multiple products that are best of breed. They can use that telemetry to feed their AI models and help automate a lot of security. Palo Alto Networks can really address this pain point for customers.

☆ Here's the 25-page pitch deck a fintech helping Gen-Z shoppers get the best deals online used to attract investors like Paris Hilton, The Chainsmokers, and GV to back its $15 million Series A
▼ + stars: | 2023-05-30 | by ( Paige Hagy | ) www.businessinsider.com time to read: +5 min

The startup scrapes users' emails for discounts and promotions, applying them at the point of sale. Checkmate is a savings app and web browser extension for Gen-Z online shoppers that pushes promotions and deals to the user at the right time. Checkmate utilizes machine learning and language processors to scrape users' emails for promotions and discounts from their favorite brands. Pall introduced Checkmate to other potential celebrity investors, including Paris Hilton, who participated in the Series A. Check out the 25-page deck Checkmate used to raise its $15 million Series A.

☆ Who's going to work on all these AI projects at the big banks?
▼ + stars: | 2023-05-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Everyone seems to agree that artificial intelligence is going to upend Wall Street. Insider's Paige Hagy and Bianca Chan have a fascinating story on how AI talent doesn't seem to be sticking around at big banks. What's even more foreboding is that AI talent isn't leaving for other banks. But struggling to hold on to AI talent seems especially concerning when one considers what's at stake — like, uh, humanity — and the speed at which it'll happen. Here are the three reasons banks can't seem to hold on to AI talent.

☆ Banks are all-in on AI, but there's one problem: They can't hold on to the talent. Here's why.
▼ + stars: | 2023-05-23 | by ( Paige Hagy | Bianca Chan | ) www.businessinsider.com time to read: +9 min

Big banks are hiring a lot of AI talent, but are having a tough time holding on to it. The difficulty banks have retaining AI talent, however, isn't due to poaching among peers. Banks can lure in AI talentIt's true that big banks have the wherewithal to hire and capitalize on top AI talent and are attractive at the outset to those looking for a new shop. "The AI talent coming to the financial-services industry is almost like supporting the tech talent, if you will," Hirsch said. Big Tech has its own problems right nowTo be sure, banks are snagging from Big Tech too.

☆ Fintech Zamp, which helps companies navigate sales tax compliance, used this 12-page deck to raise a $4 million seed round
▼ + stars: | 2023-05-22 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

Zamp is a startup that helps online sellers with sales tax compliance. Sales tax compliance laws are complex and constantly changing. Zamp is aimed at helping online sellers of all sizes manage their sales tax compliance. Additionally, sales tax compliance is handled on the state, county, city, and district levels, rather than the federal level. Zamp handles every aspect of sales tax compliance for the customer, from reporting and filing to handling notices from the state.

☆ Meet Wall Street's rising stars of equity research, the ones to watch as the stock market faces one of its biggest challenges yet
▼ + stars: | 2023-05-22 | by ( Carter Johnson | Emmalyse Brownstein | Paige Hagy | ) www.businessinsider.com time to read: +2 min

Meet Insider's lineup of up-and-coming talent in the world of equity research. The group hails from JPMorgan, Morgan Stanley, Goldman Sachs, and other top Wall Street firms. Lizzul is one of Insider's equity-research rising stars for 2023, a group of 17 up-and-coming research analysts covering a range of sectors, including energy and cybersecurity. To qualify for the list, analysts had to be 35 or younger, based in the US, working in sell-side equity research at a Wall Street firm, and producing work that stood out from competitors. Here is Insider's 2023 list of the top up-and-coming stars of equity research on Wall Street:

☆ Here's the 12-page pitch deck a startup helping online sellers navigate the complicated world of sales tax compliance used to raise a $4 million seed round
▼ + stars: | 2023-05-17 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

☆ Revolut's US CEO outlined the threat Apple's new high-yield savings account poses to neobanks
▼ + stars: | 2023-05-17 | by ( Paige Hagy | ) www.businessinsider.com time to read: +3 min

The CEO of at least one digital bank is keeping an eye on Apple's new high-yield savings account. The Big Tech giant launched a savings account with a 4.15% annual percentage yield (APY) through its partnership with Goldman Sachs on April 17. In its first four days of launch, it brought in nearly $1 billion in deposits, according to reporting by Forbes. The savings account is only available to people who have Apple Card — Apple's credit card — but the account has no minimum deposit or balance requirement. Apple's savings account beats this average by tenfold.

☆ After prison, getting banking services is hard. This startup wants to change that.
▼ + stars: | 2023-05-15 | by ( Paige Hagy | ) www.businessinsider.com time to read: +6 min

FRSH is a banking solution for the formerly incarcerated community. "We are justice-impacted and we know this is the best solution," Sam told Insider. FRSH offers banking products and services to help returning citizens — those who have been released from jails and prisons, per the US Department of Justice — establish financial stability. Sam, Daniel Feldman, and Chris Heckler, all of whom were formerly incarcerated, founded the fintech. The startup also trains caseworkers and case managers to teach financial-education courses and offer FRSH as a banking solution for returning citizens.

☆ Goldman Sachs CIO says it's important to decide who in a firm to 'superhumanize' with AI technology
▼ + stars: | 2023-05-11 | by ( Paige Hagy | ) www.businessinsider.com time to read: +3 min

Goldman Sachs' Marco Argenti told a conference how he assesses AI's return on investment. Firms can use AI to "superhumanize" talent, Argenti said. The top financial services firms, like Goldman Sachs, are looking to use artificial intelligence to "superhumanize" their talent. Generative artificial-intelligence will enhance productivity and efficiency across financial services, according to Marco Argenti, chief information officer at Goldman Sachs. Within Goldman Sachs, Argenti said the bank is looking to apply generative AI to data management, data classification, and workflow creation.

☆ Digital health faces the same hurdle as fintech: Get profitable or get lost.
▼ + stars: | 2023-05-10 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Digital health, once the darling of the healthcare industry, is having a tough go of it. After a pandemic-fueled surge when health services and offerings utilizing tech were prioritized, digital health has come back down to earth. The similarities between digital health and fintech are striking. For both fintechs and digital health, this year has served as a reminder that they're only partly tech companies. Click here for predictions from 16 bankers and dealmakers on the future of digital health.

☆ Fintech Finix is now a payments processor. The startup's CEO details how it wants to upend the industry and take on industry giants like Fiserv and FIS.
▼ + stars: | 2023-05-04 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

Finix is now a payments processor, Insider has learned. The financial-technology startup is now a payments processor in addition to being a payments facilitator, Insider has learned. By becoming a payments processor, Finix is reducing the number of third-parties in a given transaction as it looks to compete against legacy processors such as Fiserv and FIS. As a processor, Finix can own yet another portion of the payments' lifecycle. And while a legacy processor can take up to 24 hours to test new code, Finix takes 30 minutes.

☆ Fintech Finix just became a payments processor as the startup looks to compete with industry giants like Fiserv and FIS
▼ + stars: | 2023-05-02 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

☆ From TikTok to partnerships, the best ways fintechs can attract quality customers amid a downturn, according to experts
▼ + stars: | 2023-05-01 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

Balancing customer acquisition cost and customer lifetime value is difficult. Despite the market downturn, experts say startups need to be more savvy about going after new users. Fintechs need to take a quality over quantity approach when it comes to attracting new customers in a tightening market. One solution is to target customers who will offer greater lifetime value, Ron Shevlin, chief research officer at Cornerstone Advisors, said at the conference. Lifetime value is the amount of revenue a business will generate from a single customer.

☆ Payments are broken. From fraud to a lack of innovation, these are the biggest pain points in the space, according to experts.
▼ + stars: | 2023-04-28 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

Experts at the conference named time-to-money, faster payments processing leading to faster fraud, and political hurdles that stunt innovation as the biggest challenges for payments. But with faster payments comes faster fraud, Soups Ranjan, cofounder and CEO of Sardine, said. Still, the threat of faster fraud "shouldn't change why we lean into faster payments," Kirkpatrick added. "Because this problem will exist whether we have faster payments or we don't." "We don't have anything close to that in the US," Kirkpatrick added.

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