Arsenal Selects Airwallex as Finance Software Partner; Scaling Fintech Startups

Innovation

Fintech company MyBambu 5Xed its space in West Palm Beach with new global HQ - and plans to add 190 jobs

MyBambu, a financial technology company that provides a range of financial services including instant money transfers to Latin American countries, has moved into its 35,000-square-foot global headquarters in West Palm Beach. Along with the expansion will be the planned addition of 190 jobs.

Scaling Fintech Startups: Lessons From Hypergrowth Engineering

With over a decade working in the fintech ecosystem at companies like Visa, Clover, Fiserv, Orum.io and now Carta, I've seen how fintechs face unique challenges when it comes to hypergrowth.

Few industries match fintech's growth, but rapid expansion in this sector often brings hurdles that hinder execution velocity and product quality. I recall at one company, for example, how we’d face outages every Friday due to peak dinner payment volume or the pressures of holiday seasonality.

AI

Will AI be the final blow to bank distribution or the catalyst for product reinvention?

While the landscape is undeniably shifting, banks that embrace product innovation, strategically navigate the rise of AI and third parties, and view collaboration as an opportunity rather than a threat, can not only survive but thrive in this evolving ecosystem.

AI now produces half the code of $88bn fintech Robinhood

AI adoption for teams in financial services has been surging, but its impact at $88bn fintech Robinhood has been cloudy, until now. Speaking on the 20VC Podcast, CEO Vlad Tenev revealed that AI writes roughly half the new code produced at the brokerage.

Anthropic launches Financial Analysis solution, offering Claude for financial services

Anthropic has released a new Financial Analysis solution, offering a domain-specific version of its flagship AI assistant Claude.

Venture Capital

Rex Salisbury's Cambrian Ventures raises new fund, bucking fintech slowdown

Rex Salisbury, the solo GP behind Cambrian Ventures, fondly recalls the time he fell in love with fintech.

The year was 2015; he had recently left his job as an investment banker to try his hand at engineering at a mortgage startup in San Francisco. “That’s when you had companies like Stripe, Plaid, Credit Karma, Wealthfront starting to scale,” he told TechCrunch. “Lending Club had just done their IPO, and was trading really well.”

Fintech Paddle secures £18.6m of funding from CIBC

UK fintech Paddle has secured $25m (£18.6m) of funding from CIBC Innovation Banking to fuel its international expansion plans.

The Merchant of Record services provider is preparing for a period of significant growth with a handful of executive hires made and upcoming plans to open an office in Austin, Texas.

Data

JPMorgan Chase is rolling out a new fee structure that could ‘cripple’ crypto and fintech startups, executives warn

When JPMorgan Chase told fintechs last month that it planned to charge them for accessing its customer banking account data, it sent shockwaves through corners of the financial industry. According to four industry executives, the move is a blow to the fintech sector and could prove devastating to early-stage startups, including those in the crypto industry. Analysts, however, think mature fintechs like PayPal and Block will likely not feel much consequence from this fee change.

Research

Why Affirm Could Be the Sleeper Fintech of the Decade

After years of being dismissed as a money-losing BNPL experiment, Affirm just posted its first GAAP profit, grew GMV 36% year-over-year, and added 1.8 million new customers in a single quarter.

Technology

Fintech will Adopt DeFi Lending within 3 years.

Fintech firms are poised to adopt DeFi lending due to its permissionless nature, according to the co-founder of Morpho.

Block leads fintech rebound, analysts downplay JPMorgan data fee risk

Block jumped more than 5% on Monday, leading a rally in shares of fintech companies as analysts downplayed the threat of JPMorgan Chase’s

reported plan to charge data aggregators for access to customer financial information.

The recovery followed steep declines on Friday, after Bloomberg reported that JPMorgan had circulated pricing sheets outlining potential fees for aggregators like Plaid and Yodlee, which connect fintech platforms to users’ bank data.

Arsenal Airwallex Partnership Launches Global Fintech Deal

The Arsenal Airwallex Partnership is a new beginning for sports and fintech working together around the world. Airwallex is now Arsenal’s official finance software partner and Presenting Partner of the Men’s Asia Tour.

Arsenal and Airwallex, have today announced a multi-year partnership that will see the leading global payments and financial services platform become the club’s Official Finance Software Partner.