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☆ How overseas workers and SMEs are navigating the evolving cross-border payments landscape
▼ + stars: | 2023-11-01 | by ( Sponsor Post | Created Insider Studios With Mastercard | ) www.businessinsider.com time to read: +8 min

Cross-border payments have always faced challenges — and over the past few years, demand has increased significantly. Overseas workers and small businesses face barriers around international payments and remittances. Small businesses rely on cross-border payments for survivalWith consumers facing challenges around remittances, how are business owners faring when it comes to international payments? Marquard echoes findings from the report that traditional banking institutions have been slow off the mark when it comes to international payments. Read more about how overseas workers and SMEs are navigating the ever-changing payments landscape in Mastercard's borderless payments report.

Persons: —, Hal Ramakers, Alan Marquard, Marquard, Ramakers, It's, we've Organizations: Overseas, Mastercard, Asia —, Brightwell, Insider Studios Locations: Americas, Europe, East, Africa, Asia, India, UAE

☆ With China playing catchup with the U.S., these 3 charts show the top countries for fintech in 2023
▼ + stars: | 2023-10-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

UK has second-biggest number of top fintech firmsThe U.S. was home to 65 of the top fintech companies, according to CNBC's list of world's top 200 fintech companies. In the U.S., some of the top global fintech companies on Statista's list include names like Stripe, PayPal and Intuit . Stateside, meanwhile, the largest fintech unicorns are Stripe ($95 billion), Chime ($25 billion), Ripple ($15 billion), Plaid ($13.5 billion), Devoted Health ($12.6 billion, and Brex ($12.3 billion). Other leading ecosystems for fintech unicorns include India, on 17 unicorns, and China, on eight. Standing in 8th place is Mexico, with five fintech unicorns, Singapore, also with five, and the Netherlands, which has four in total.

Persons: Ed Jones, Starling, Tencent, Statista, Andreessen Horowitz, Wise, Vlad Tenev, Group's, —, Nick Parmenter Organizations: AFP, Getty, CNBC, Statista, Ant Group, Plaid, Visa, Mastercard, European Union, Apple, Google, Sequoia Capital, PayPal, Intuit, Financial, Authority, Consumers Locations: U.S, Beijing, China, Silicon, Europe, Ukraine, Covid, India, France, Brazil, Germany, Mexico, Singapore, Netherlands, Statista

☆ Paulo Trevisani — Reporter at The Wall Street Journal
▼ + stars: | 2023-10-25 | by ( Paulo Trevisani | ) www.wsj.com time to read: +1 min

Paulo TrevisaniPaulo Trevisani is a Market Talk reporter covering bond markets, ETFs, the Brazilian economy and other subjects for both Dow Jones Newswires and The Wall Street Journal. Paulo has broken news on currency markets and fintechs, while also writing about new ETFs, Treasurys, Brazilian central bank moves, Amazon deforestation and ESG investments. Paulo covered the jailing of political leaders accused of corruption and the rise of Jair Bolsonaro, a.k.a. Paulo found an unemployed gospel singer who made a living scavenging Latin America's largest trash dump. Paulo was born in Brazil, where he started his career as a journalist working for local media and focusing on the economy.

Persons: Paulo Trevisani Paulo Trevisani, Dow Jones Newswires, Paulo, Jair, Trump Organizations: Street Journal Locations: Brazilian, Brazil

☆ Morgan Stanley's 14 years under James Gorman: a timeline
▼ + stars: | 2023-10-25 | by ( Manya Saini | Thomson Reuters | Manya Saini Reports On Prominent Publicly Listed U.S. Financial Firms Including Wall Street S Biggest Banks | ) www.reuters.com time to read: 1 min

Morgan Stanley CEO James Gorman attends the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. REUTERS/Brendan McDermid Acquire Licensing RightsCompanies Morgan Stanley FollowOct 25 (Reuters) - Morgan Stanley (MS.N) on Wednesday named insider Ted Pick as its next chief executive officer, replacing longtime leader James Gorman, who will become the investment bank's executive chairman. Here is a timeline of key events that shaped Gorman's almost 14-year tenure atop the Wall Street giant:Sources: Company statements, investor updates, investor conferences, media reports, regulatory filingsReporting by Manya Saini in Bengaluru; Editing by Rod Nickel and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Morgan Stanley, James Gorman, Brendan McDermid, Ted Pick, Manya Saini, Rod Nickel, Sonali Paul Organizations: Reuters, REUTERS, Wednesday, Thomson Locations: New York City , New York, U.S, Bengaluru

☆ Climate fintech is exciting investors right now. Here's why it's primed to be the next red-hot sector.
▼ + stars: | 2023-10-24 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

Startups operating at the intersection of climate tech and fintech are attracting a lot of investor attention right now. The so-called "climate fintech" sector is another such area that has seen investment tick up against the backdrop of the broader malaise that has hobbled the startup ecosystem, according to investors. Fintech-focused venture firm CommerzVentures defined climate fintech as companies that speed up decarbonization or help manage and adapt to climate risks. Climate fintech is also a software play so it has the ability to scale quickly and efficiently, which is a sweet spot for most VC investors, Morgenthaler added. "Clear and simplified renewable energy contracts, energy invoices, and tariffs in turn allow consumers to access the cheapest energy from multiple renewable sources," Bessemer investor Aia Sarycheva said.

Persons: Paul Morgenthaler, Morgenthaler, Jeremy Brown, fintech, It's, Sarycheva Organizations: " Venture, Morningstar's, Equity, Energy, Bessemer Locations: Europe, Anthemis, Bessemer

☆ Visa profit beats estimates on post-pandemic travel boost
▼ + stars: | 2023-10-24 | by ( Manya Saini | Thomson Reuters | Manya Saini Reports On Prominent Publicly Listed U.S. Financial Firms Including Wall Street S Biggest Banks | ) www.reuters.com time to read: +2 min

Visa credit and debit cards are seen in this picture illustration taken August 2, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsSummaryCompanies Cross-border volumes surge on steady travel demandStrong results signal consumer resilienceVisa Q4 adjusted EPS $2.33 beats estimate of $2.24Oct 24 (Reuters) - Card giant Visa (V.N) sailed past estimates for fourth-quarter profit on Tuesday as consumers on a post-pandemic travel rebound shrugged off worries of a looming economic slowdown and cost-of-living crisis. Visa's CFO Chris Suh said U.S. inbound travel recovery accelerated in the quarter, while travel into Asia also continued to improve. Visa's payment volumes rose 9% in the quarter, while cross-border volumes excluding transactions within Europe, a gauge of travel demand, surged 18%. Visa posted adjusted profit of $2.33 per share in the three months ended Sept. 30, topping expectations of $2.24 per share, according to LSEG data.

Persons: Benoit Tessier, Chris Suh, Suh, Michael Ashley Schulman, Logan Purk, Edward Jones, Manya Saini, Pooja Desai Organizations: REUTERS, Card, Running, Capital Advisors, Reuters, American Express, Visa, Thomson Locations: Asia, Europe, U.S, Bengaluru

☆ Ctrl Alt, founded by an ex-Morgan Stanley trader, offers alternative asset investment tools. Check out the 10-slide pitch deck it used to raise $2.7 million.
▼ + stars: | 2023-10-23 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Ctrl Alt, a fintech startup that offers infrastructure to invest in alternative assets, has raised $2.7 million in a seed round. For fintech startups that offer wealth management and investment products, alternatives could provide new opportunities to make revenues from wider yield spreads, Ong said. "The market is tough for fundraising and that has an impact on you as a founder," Ong added. The fresh capital will go towards building out Ctrl Alt's tech team and expanding its relationships with prospective customers. Check out Ctrl Alt's 10-slide seed funding deck below:

Persons: Morgan Stanley, Matt Ong, it's, Ong Organizations: Forward Partners, Middlegame Ventures, Enterprise Ireland, Algorand Ventures, Syndicate Locations: London, fintech

☆ My startup's AI tool is helping Ukraine on the battlefield
▼ + stars: | 2023-10-21 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

He explains how Ukraine is using the company's AI tool to streamline intelligence gathering. The world before February 24, 2022 was a difficult place for defense tech startups. But since Russia's invasion of Ukraine there's been a paradigm shift. Now, my company, SensusQ, is applying the AI revolution to the defense sector and helping Ukraine on the battlefield. AdvertisementAdvertisementThe SensusQ AI system collates intelligence from multiple sources.

Persons: Erik Kannike, Kannike, —, Ukraine there's, James Bond, There's, they're, Europe There's Organizations: Service, NATO, intel, Spotify, Anadolu Agency Locations: Estonian, Ukraine, Estonia, Russia, Europe, Ukrainian

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. Wells Fargo, which has reduced headcount for every quarter since the third quarter of 2020, said it still sees more opportunities for layoffs. Investment banking powerhouse Morgan Stanley also disclosed a near 2% drop in its total headcount on Wednesday, compared to the prior quarter. At the investment banks Goldman and Morgan Stanley expenses rose 18% and 5% in the quarter, compared to a year earlier. The bank in January dismissed 3,200 employees, its biggest round of layoffs since the 2008 financial crisis.

Persons: Brendan McDermid, Jeremy Barnum, Morgan Stanley, Wells Fargo, Thomas DiNapoli, Goldman Sachs, Denis Coleman, That's, Coleman, Manya Saini, Niket, Lananh Nguyen, David Evans Organizations: Wall, REUTERS, JPMorgan, PNC Financial, Citigroup, Bank of America, Investment, Banks, Citi, Goldman, BofA, PNC, New York, GOLDMAN, Reuters, Thomson Locations: New York, U.S, Wells Fargo, Wells, GOLDMAN SACHS BUCKS, headcount

Data from Mexico's financial products watchdog Condusef shows that the accounts would be the highest-yielding ones offered in the local financial sector. Other Latin American fintechs like Brazil's Nubank (NUN.MX) and Argentina's UALA have also launched savings accounts this year in Mexico, where data from the national statistics agency showed less than half of the population has savings accounts. The Mexican arms of Nubank and UALA both offer 9% yields on their savings accounts, already much higher than most banks. Stori expects to reach 3 million savings account holders by the end of next year, said its General Manager of New Products Sergio Duenas. ($1 = 18.0044 Mexican pesos)Reporting by Valentine Hilaire; Editing by David Alire Garcia, Christian Plumb and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Marlene Garayzar, Sergio Duenas, Valentine Hilaire, David Alire Garcia, Christian Plumb, Marguerita Choy Organizations: MEXICO CITY, Wednesday, Reuters, The Bank of, New, Thomson Locations: MEXICO, Mexico, The Bank of Mexico, Nubank

A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. BofA's investment banking and trading units managed to outperform Wall Street expectations as they reported higher revenue, bucking an industry-wide slump. Total investment banking fees rose 2% to $1.2 billion, while sales and trading revenue was up 8% to $4.4 billion in the third quarter. BofA's net interest income (NII) rose 4% in the third quarter to $14.4 billion. BofA's revenue, net of interest expense, increased 3% in the quarter to $25.2 billion.

Persons: Carlo Allegri, Brian Moynihan, BofA, Wells, Manya Saini, Nupur Ananad, Saeed Azhar, Lananh Nguyen, Anil D'Silva Organizations: of America, REUTERS, Bank of America, Federal Reserve, Lending, JPMorgan Chase, Citigroup, Thomson Locations: Manhattan, New York City , New York, U.S, NII, Bengaluru, Nupur, New York

A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. Revenue at BofA's consumer banking unit rose 6% to $10.5 billion in the third quarter. BofA's investment banking and trading units outperformed. Total investment banking fees rose 2% to $1.2 billion, bucking an industry-wide slump. Sales and trading revenue was up 8% to $4.4 billion in the third quarter to its highest in more than a decade.

Persons: Carlo Allegri, Brian Moynihan, BofA, Alastair Borthwick, Borthwick, Wells, Manya Saini, Nupur Ananad, Saeed Azhar, Lananh Nguyen, Anil D'Silva Organizations: of America, REUTERS, Bank of America, U.S, Federal Reserve, Lending, JPMorgan Chase, Citigroup, Thomson Locations: Manhattan, New York City , New York, U.S, NII, Bengaluru, Nupur, New York

Citi's net income rose 2% to $3.5 billion from a year ago, while earnings per share remained stable at $1.63. Revenue at Citi's institutional clients group that houses its Wall Street operations rose 12% from a year ago, fueled by a 34% jump in investment banking fees. Citi's total provision for the credit portfolio rose to $17.6 billion from $16.3 billion a year ago. Fraser announced a sweeping reorganization last month that will disband ICG and give her more direct oversight over the company's businesses. Rivals Wells Fargo (WFC.N) and JPMorgan Chase (JPM.N) also reported higher quarterly profit on Friday, boosted by a rise interest payments.

Persons: Nick Zieminski, Jane Fraser, Fraser, Rivals Wells, JPMorgan Chase, Manya Saini, Tatiana Bautzer, Lananh Nguyen, Arun Koyyur Organizations: Citibank, REUTERS, Federal, ICG, Citi, Rivals, JPMorgan, Thomson Locations: Jackson, Queens, New York City, U.S, Bengaluru, New York

The bank said its recently announced reorganization plan will result in a 15% reduction in functional roles and that the first phase of the plan eliminated 60 net committees. Revenue at Citi's institutional clients group that houses its Wall Street operations rose 12% from a year ago, fueled by a 34% jump in investment banking fees. The bank's trading unit also boosted revenue, while its division providing treasury and securities services to corporations brought in 12% more revenue. At Citi, the total provision for the credit portfolio rose to $17.6 billion from $16.3 billion a year ago. Fraser announced a sweeping reorganization last month that will disband ICG and give her more direct oversight over the company's businesses.

Persons: Nick Zieminski, Jane Fraser, Fraser, Rivals Wells, JPMorgan Chase, Manya Saini, Tatiana Bautzer, Lananh Nguyen, Arun Koyyur Organizations: Citibank, REUTERS, LSEG, Citi, Federal, ICG, Rivals, JPMorgan, Thomson Locations: Jackson, Queens, New York City, U.S, Bengaluru, New York

Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon Acquire Licensing RightsOct 13 (Reuters) - Wells Fargo on Friday beat analysts' estimates for third-quarter profit as it benefited from customers paying more interest and raised its annual forecast for future income from interest payments. The swiftest tightening of U.S. monetary policy in 40 years aimed at reining in sticky inflation has buoyed banks' interest income. Rival banking giant JPMorgan Chase (JPM.N) on Friday posted a rise in third-quarter profit as higher interest rates boosted its income from loans. Wells Fargo earned $1.48 per share in the third quarter, beating analysts' expectations of $1.24, according to LSEG data.

Persons: Wells, NII, JPMorgan Chase, Wells Fargo, Charlie Scharf, Banks, Noor Zainab Hussain, Manya, Saeed Azhar, Lananh Nguyen, Sriraj Organizations: REUTERS, Friday, JPMorgan, Wells, Manya Saini, Thomson Locations: Wells Fargo Bank, New York City, U.S, Wells Fargo, Wells, Bengaluru, New York

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. Based on the low end of the range, Birkenstock could be valued at as low as $8.5 billion. Their shares have, however, given up gains since going public, muddying the outlook for the IPO market. As of Tuesday's close, Instacart shares were 10% below their IPO price. The company had disclosed a 21% jump in revenue to 1.12 billion euros ($1.19 billion) for the nine-month period ended June 30.

Persons: Fabrizio Bensch, Bernard Arnault, Louis Vuitton Moet Hennessy, Susannah Streeter, Hargreaves Lansdown, Margot Robbie, Barbie, Tommy Tranfo, Tranfo, Birkenstock, Dior, Stüssy, Manolo Blahnik, Rick Owens, Manya Saini, Niket, Anil D'Silva Organizations: REUTERS, New York Stock Exchange, Arm Holdings, Hargreaves, Reuters, Reuters Graphics, Thomson Locations: Berlin, Germany, French, Langen, Bengaluru

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. The company's IPO raised $1.48 billion after its 32.3 million shares were conservatively priced at $46 apiece, positioning the 250-year-old brand for a smooth market debut. "Arguably, this should position Birkenstock more favorably in an environment where real interest rates are high and still rising. Birkenstock had disclosed a 21% jump in revenue to 1.12 billion euros ($1.19 billion) for the nine-month period ended June 30. The brand has partnerships deal with luxury fashion brands, including Dior, Stüssy, Manolo Blahnik and Rick Owens.

Persons: Fabrizio Bensch, Susannah Streeter, Hargreaves Lansdown, Birkenstock, Javier Gonzalez Lastra, France's Bernard Arnault, Louis Vuitton Moet Hennessy, Margot Robbie, Barbie, Michael Ashley Schulman, Tommy Tranfo, Tranfo, Dior, Stüssy, Manolo Blahnik, Rick Owens, Manya Saini, Niket, Anil D'Silva Organizations: REUTERS, New York Stock Exchange, Hargreaves, Arm Holdings, Tema, Reuters Graphics, Running, Capital Advisors, Thomson Locations: Berlin, Germany, Langen, Bengaluru

☆ The wonky world of regulation is actually a hot spot for fintech investing. Here are 12 compliance startups set to take off.
▼ + stars: | 2023-10-04 | by ( Bianca Chan | ) www.businessinsider.com time to read: +1 min

Insider asked more than 30 top fintech investors to nominate the most promising startups. Here are 12 up-and-coming fintechs looking to offer solutions to wonky regulations and tax rules. Startup investors are zeroing in on fintechs that make it easier for businesses to comply with regulations and tax policies. Funding for fintechs has slid since 2021, but one bright spot has been startups that sell regulatory tech to financial services players. Such "regtech" players had a record 2022, according to KPMG, as the value of deals in this space hit $20.9 billion.

Persons: KPMG's Organizations: fintechs, KPMG

☆ Silicon Valley fund Bessemer Venture Partners expands European investment team with hire of ex-SoftBank VP
▼ + stars: | 2023-09-22 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Silicon Valley fund Bessemer Venture Partners has expanded its European investment team with the hire of former SoftBank vice president Justina Chung. Chung has joined Bessemer's London office, which is led by partner Alex Ferrara who opened the fund's European operations in 2020. Bessemer made its first European investment in 2004 and has continued to back startups in the region, including German fintechs Upvest and Mambu as well as British neobank Zopa. Chung was a vice president at SoftBank's Vision Fund, where she served on the boards of temp staffing agency Jobandtalent and second-hand designer fashion marketplace Vestiaire Collective. "It's clear that great founders begin their journey here, in Tallinn or Stockholm, London, Paris or Berlin," Chung, who is now a vice president at Bessemer, told Insider.

Persons: Justina Chung, Chung, Alex Ferrara, Bessemer, Jobandtalent, Goldman Sachs Organizations: Bessemer Venture Partners, LinkedIn, Bessemer's London, SoftBank's Vision, Sorare, SoftBank, Credit Suisse, Bessemer, US Locations: San Francisco, Tallinn, Stockholm, London, Paris, Berlin, Europe, Mistral

☆ Getir emerged as a tentative winner in Europe's pandemic-fueled rapid-delivery sector. But it still faces sizable threats.
▼ + stars: | 2023-09-18 | by ( Riddhi Kanetkar | Callum Burroughs | ) www.businessinsider.com time to read: +8 min

In March 2022, Nazım Salur invited thousands of Getir employees to a Zoom meeting to celebrate its newfound "decacorn" status. However, as soaring inflation and rising interest rates began to hobble the tech sector, investors became far less forgiving of businesses that had oriented themselves more toward growth than sustainability. In December 2021, The Guardian reported that Getir had offered customers a deal where they could get £15 off if they spent £16. About 21 rapid-delivery startups were operating across Europe in 2021, with Getir joined by the German outfits Gorillas and Flink, as well as the British startup Zapp. Getir tentatively emerged as the winner in the rapid-delivery sector when it bought its main competitor, Gorillas , in a heavily discounted deal for $1.2 billion in December.

Persons: Nazım Salur, Nazım, Getir, Blok, London's, Alexi Rosenfeld, they've, Adam Neumann, Michael Moritz Organizations: Tiger Global, Mubadala, Financial Times, Getir, TechCrunch, Guardian, DST Global, Gorillas, Abu Dhabi Growth Fund, Google, PayPal Locations: Spanish, Berlin, Turkey, Turkish, Germany, Netherlands, Istanbul, Turkey's, Europe, British, Abu Dhabi

☆ Cramer's Lightning Round: Tilray is 'too dangerous'
▼ + stars: | 2023-09-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Dollar General's year-to-date stock performance. Stock Chart Icon Stock chart icon Tilray's year-to-date stock performance. Stock Chart Icon Stock chart icon Fastly's year-to-date stock performance. Stock Chart Icon Stock chart icon Iridium's year-to-date stock performance. Stock Chart Icon Stock chart icon Pfizer's year-to-date stock performance.

Persons: Jim Cramer's, I'm, It's Organizations: Pfizer

Arm executives and CEO Rene Haas gather outside Nasdaq Market site, as Softbank's Arm, chip design firm, holds an initial public offering (IPO), in New York, U.S., September 14, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 15 (Reuters) - Shares of SoftBank's Arm Holdings closed a volatile session lower on Friday, a day after a stellar Nasdaq debut that valued the British chip designer at $65 billion. The stock fell 4.5% to end at $60.75, after trading as high as $69 earlier in the session. The Nasdaq (.IXIC) was down 1.6% and the S&P 500 (.SPX) fell 1.2%, while an index of semiconductors (.SOX) sank 3%. Analysts said further trading volatility in Arm may be seen if the company draws more interest from AI-focused retail investors.

Persons: Rene Haas, Brendan McDermid, chipmakers, Arm's, Randy Frederick, Charles Schwab, Rick Meckler, Sophie Lund, Yates, Hargreaves Lansdown, Financials, Michael Ashley Schulman, Needham, Manya Saini, Caroline Valetkevitch, Saqib Iqbal Ahmed, Niket Nishant, Arun Koyyur, Grant McCool Organizations: Nasdaq, REUTERS, Arm Holdings, Major U.S, Cherry Lane Investments, Analysts, Graphics Arm, Running, Capital Advisors, Nvidia, Reuters Graphics, Thomson Locations: New York, U.S, British, Austin , Texas, New Vernon , New Jersey, Bengaluru

☆ Insider Today: Big banks are screwed
▼ + stars: | 2023-09-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

It's the latest example of the pressure big banks are under to keep their place atop Wall Street. Before the announcement, the bank's share price was down almost 9% this year, trailing all of its fellow big bank peers in the US except Bank of America. Citi's overhaul represents how big banks are scrambling to stay on top of a financial world passing them by. CEO Jamie Dimon recently quipped he "wouldn't be a big buyer of a bank" in reference to proposed regulations requiring big banks to keep more money on the sidelines. Whether it's fintechs or so-called shadow banks, there's no shortage of players looking to offer services previously dominated by big banks.

Persons: that'll, isn't, Mike Kemp, Insider's Jennifer Sor, Jane Fraser, Fraser, Fraser isn't, she's, Michael Corbat, Citi's reorg, Goldman Sachs, David Solomon, Rebecca Ungarino, Wells, Charlie Scharf, JPMorgan — isn't, Jamie Dimon, it's, Robert Nickelsberg, Morgan Stanley, — isn't, Arantza Pena Popo, Nicole Zaridze, Elon Musk, Post Malone, —, Hunter Biden, Garrett Ziegler, Paul Morigi, Biden's, Joey Hadden, I've, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Citigroup, Getty, Bank of America, JPMorgan, Independence, Apple, Post, SEC, Trump, Wikimedia, Motors, Ford, Nintendo Locations: Wall, Silicon, Seattle, New York City, China, Boxabl, Michigan, San Diego, London, New York

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

☆ Britain's $4.5 billion digital bank Monzo debuts investments feature
▼ + stars: | 2023-09-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

MonzoMonzo, the $4.5 billion digital challenger bank, launched a feature that lets users make investments —marking its first foray into the massive financial investment market. Monzo Investments will allow users to start investing with as little as £1. With Monzo Investments, you can start from £1." MonzoThe investments pots feature will appear in a new part of the home screen on Monzo called Savings & Investments. Gautam Pillai, head of fintech research at the investment bank Peel Hunt, said Monzo's new investments feature could increase customer "stickiness."

Persons: Anil, Monzo Monzo, It's, Monzo, who've, they'll, Monzo's, they've, Zopa, Wise, we've, Gautam Pillai, Peel Hunt, Pillai Organizations: Investments, BlackRock, CNBC, Monzo, Monzo Investments, Savings, Starling Locations: Britain

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