The hottest Fintech Substack posts right now

And their main takeaways
Category
Top Business Topics
Fintech Business Weekly 178 implied HN points 17 Nov 24
  1. The FTC has accused the fintech app Dave of misleading users about cash advances, fees, and subscription charges. They claimed many people were promised higher amounts than they could actually get and were not clearly informed about fees.
  2. The number of unbanked households in the U.S. has dropped to 4.2%, but there are still major differences across racial and ethnic groups. Black and Hispanic households remain much more likely to be unbanked than White households.
  3. During the Synapse bankruptcy, issues arose about how funds were managed and returned to users. A lot of users may face significant losses, and there’s a push for more transparency and accountability from banks involved.
The Wolf of Harcourt Street 539 implied HN points 17 Oct 24
  1. Nubank and Mercado Libre are successful because they used technological leapfrogging. This means they skipped older technology and went straight to using modern solutions, like mobile banking and digital payments.
  2. They took advantage of large numbers of people who had never used banking services before. By being mobile-friendly, they turned non-users into active customers quickly.
  3. Having low switching costs made it easy for users to adopt these new technologies. Since there were not many old systems to replace, people could easily try out and stick with these services.
Fintech Business Weekly 89 implied HN points 10 Nov 24
  1. Banking regulations during Trump's first term favored a more business-friendly and less restrictive approach, making it easier for financial innovations to flourish.
  2. Several key appointments in his administration were focused on encouraging small-dollar loans and improving access to credit for underprivileged communities.
  3. There are concerns about the transparency and accountability of banks, especially regarding how they handle customer funds during crises like bankruptcies.
Fintech Business Weekly 59 implied HN points 03 Nov 24
  1. VyStar Credit Union faced major issues after investing $20 million in Nymbus due to a failed transition to a new online banking platform.
  2. The Consumer Financial Protection Bureau ordered VyStar to pay a $1.5 million penalty for unfair practices during the transition process, which left customers unable to access their accounts.
  3. Nymbus is currently involved in multiple legal disputes with clients, claiming it failed to deliver promised services and is now reportedly trying to extort money from a former customer.
Fintech Business Weekly 104 implied HN points 27 Oct 24
  1. Goldman Sachs and Apple have to pay nearly $90 million due to issues with how they handled customer complaints about the Apple Card. They didn't follow the rules about resolving billing errors and misleading customers about financing options.
  2. The final open banking rule is now in place, but it faces a legal challenge from big banks who argue it could increase fraud and harm consumer data safety. This rule aims to give consumers more control over their financial data.
  3. SoLo Funds, a peer-to-peer lending service, is facing a lawsuit for allegedly misleading customers about loan costs. The company has been criticized for operating without the necessary licenses and using confusing practices.
Get a weekly roundup of the best Substack posts, by hacker news affinity:
Fintech Radar 6 implied HN points 13 Nov 24
  1. Affirm is now in the UK, partnering with Amazon to offer buy now, pay later options. This move puts them up against established competitors like Klarna and Afterpay.
  2. Block is enhancing its Cash App by integrating Afterpay, making it easier for users to manage payments. This could help Block maximize the value of its Afterpay acquisition.
  3. Coinbase teamed up with Visa for real-time deposits, allowing quick transfers into user accounts. This partnership is a significant step for improving the user experience in crypto trading.
Alex's Personal Blog 65 implied HN points 13 Nov 24
  1. Klarna is planning to go public, which is exciting news for the fintech industry. Their recent financial improvements and a strong market for BNPL companies are driving this move.
  2. Klarna's growth has been mixed, with rapid increases followed by significant losses in previous years. However, they have managed to reduce losses and improve revenue in the last year.
  3. The current market favors companies like Klarna due to rising stock prices in the fintech sector. This suggests that investors believe there will be less strict regulations on their lending practices.
Fintech Business Weekly 66 implied HN points 20 Oct 24
  1. Axiom Bank faced serious allegations of retaliation against former employees who raised concerns about compliance and risk management issues. The complaints suggest that the bank ignored safety regulations and retaliated against those who spoke up.
  2. TomoCredit, facing financial struggles, defaulted on its debts and is being sued for not paying vendors. The company also has legal challenges over misleading practices related to its credit-building products.
  3. Both Axiom Bank and TomoCredit reveal challenges in the fintech sector related to compliance, financial stability, and ethical practices. These cases highlight the risks involved in the rapidly changing financial technology landscape.
Snowball 1395 implied HN points 09 Jan 24
  1. Some credit cards offer unique benefits like free Amazon Prime or cashback in the form of investments.
  2. Revolut cards come with various advantages based on the subscription level, like free currency exchange or cashback on accommodations.
  3. American Express cards provide a range of benefits, from purchase guarantees to access to exclusive events. The higher-tier cards offer even more luxurious perks like worldwide lounge access.
Fintech Radar 4 implied HN points 06 Nov 24
  1. Robinhood has launched contracts for betting on the U.S. presidential election, allowing users to trade on candidates like Kamala Harris and Donald Trump. This move taps into the growing interest in prediction markets during election cycles.
  2. Hong Kong has introduced a framework for AI in finance to ensure responsible use, data privacy, and collaboration with universities. This trend might inspire other markets to set similar guidelines for AI in financial services.
  3. NVIDIA is now using AI to detect fraudulent credit card transactions in real-time. This development shows how AI is making it easier for companies outside of traditional finance to tackle fraud prevention.
The Fintech Blueprint 864 implied HN points 07 Feb 24
  1. Farcaster aims to blend social media with Web3 capabilities to create a more engaging platform.
  2. When shifting platforms, it's important to innovate without compromising the core user experience.
  3. Decentralized social media platforms like Steemit, EOS Voice, and BitClout have struggled due to prioritizing financial features over user engagement.
Thái | Hacker | Kỹ sư tin tặc 818 implied HN points 22 Dec 23
  1. The Vietnamese Government is focusing on enhancing cybersecurity in the banking and cashless payment sectors to prevent system intrusions and theft from bank accounts.
  2. Foreign hackers have previously stolen significant amounts of money from domestic banks in Vietnam, prompting authorities to take action.
  3. Efforts by organizations like Calif, led by the author, aim to reduce vulnerabilities in critical national systems and contribute to enhancing security measures in Vietnam.
Fintech Business Weekly 661 implied HN points 21 Jan 24
  1. CFPB proposed a rule to close the TILA overdraft loophole, aiming to protect consumers from billions in junk fees.
  2. The proposed rule would require large banks to treat overdrafts like credit products, disclosing APRs and considering actual costs.
  3. Exempting banks under $10 billion in assets from the rule has sparked debate, highlighting the complexity of regulating banking fees.
Fintech Radar 4 implied HN points 30 Oct 24
  1. Western Union is buying Dash, a mobile wallet in Singapore, to expand its digital services. This shows how much the remittance business has changed with more competition from apps.
  2. Goldman Sachs and Apple are being fined nearly $90 million over issues with the Apple Card, which could hurt their future plans. It highlights the challenges Goldman faces in consumer banking.
  3. Morgan Stanley launched an AI assistant to help its staff analyze research reports faster. This shows how traditional finance is integrating AI to improve efficiency.
Fintech Radar 6 implied HN points 23 Oct 24
  1. Stripe is buying Bridge for $1.1 billion to enhance its stablecoin services. This shows Stripe's big plans to grow its role in international payments.
  2. Apple Pay is teaming up with Klarna to allow users to split payments into four interest-free installments. This move signals Apple’s shift back to focusing on partnerships for better payment options.
  3. Brex is partnering with Navan to make travel payments easier for businesses. This collaboration aims to simplify expense management by integrating payment solutions directly into travel bookings.
Fintech Business Weekly 475 implied HN points 31 Dec 23
  1. The banking-as-a-service industry faced challenges in 2023, such as issues with compliance and partnerships.
  2. There was increased regulatory scrutiny on BaaS entities, with concerns around misleading claims and high interest rates.
  3. Multiple BaaS-related scandals and legal actions occurred throughout the year, impacting various companies in the industry.
The Fintech Blueprint 589 implied HN points 02 Aug 23
  1. The craft of scaling fintechs involves understanding successful growth drivers and failures
  2. Successful business building requires targeting disruptive technologies to the right market with demand
  3. Goldman Sachs' exit from consumer business contrasts with neobanks like Bunq's profitability and growth in their niche
The Fintech Blueprint 530 implied HN points 04 Oct 23
  1. Sharks' decline and human growth show the power of general intelligence over specialized adaptations.
  2. Smartphones like iPhones with general intelligence capabilities outperform specialized devices like ATMs.
  3. Big tech's embrace of open banking could lead to a future where standalone bank apps become obsolete.
The Fintech Blueprint 235 implied HN points 29 Jan 24
  1. Brex announced a 20% reduction in its workforce, aligning with a broader fintech trend of operational streamlining.
  2. Fintech industry is becoming leaner due to funding cuts and emphasis on profitability.
  3. Despite significant job cuts in tech, the general unemployment rate remains below 4%, indicating a luxury funding problem.
The Fintech Blueprint 196 implied HN points 05 Feb 24
  1. Joe Duran's Rise Growth Partners secures $250MM for minority RIA investments
  2. Rise Growth Partners focuses on acquiring a 30% stake in RIAs with $1B - $5B in AUM
  3. Competition is fierce in the RIA minority investing space with players like Constellation Wealth Capital and Merchant Investment Management
The API Changelog 1 implied HN point 12 Nov 24
  1. Cybercriminals are manipulating the Docusign API to send fake invoices to businesses, making them look real to trick users. This highlights the potential risks in API security that could extend to other services too.
  2. Qpoint has raised $4 million in funding to help companies manage their external APIs better. Their goal is to give teams more control and insights over the apps they rely on.
  3. Ollama's AI framework has been found to have serious security flaws, which can lead to data theft and DoS attacks. This underlines the importance of strong security measures in AI technologies.
The Dollar Endgame 299 implied HN points 07 May 23
  1. The author, Peruvian Bull, is a fintech analyst focusing on finance and monetary economics.
  2. The author invites readers to join their journey to explore the darker aspects of the financial system.
  3. The post hints at more content to come in the future.
Fintech Business Weekly 141 implied HN points 28 Jan 24
  1. Fintech and media businesses are facing challenges like layoffs and closures, highlighting the importance of independent journalism.
  2. Regulatory changes like the CFPB proposed rules on junk fees and NY BNPL law are impacting the banking and fintech industry.
  3. Recent enforcement actions on Blue Ridge Bank and Choice Bank reveal the regulatory scrutiny on BaaS relationships, emphasizing the need for due diligence and compliance.
Fintech Business Weekly 267 implied HN points 27 Aug 23
  1. The smallest bank in Tennessee saw significant growth by leveraging BaaS partnerships, but this rapid expansion may raise concerns about the bank's ability to manage increased complexity.
  2. The Herrington family behind Lineage Bank has a history of running banks, facing challenges and controversies in their previous ventures.
  3. Synapse, a key BaaS partner of Lineage Bank, has faced regulatory scrutiny and may be pressuring Lineage to approve more programs, highlighting risks in complex financial partnerships.