Fintech Focus October 22, 2021
Quote To Start The Day: “When you reach the end of your rope, tie a knot in it and hang on.”
Source: Franklin D. Roosevelt
One Big Thing In Fintech: The CFPB issued a series of orders Thursday that will require large tech companies to hand over information on their payments systems to better understand how these firms manage and access users personal data.
Source: FinLedger
Other Key Fintech Developments:
Endpoint added $150M in funds.
Square adds subscription offers.
Barclays added compliance tech.
Cboe, MSCI expand relationship.
EQIFI adding crypto Mastercard.
Zodia Custody tested Petra tech.
Genesis announces beta launch.
Patch, Doconomy add tech stack.
Enfusion announces IPO pricing.
Veem expanded platform access.
FTX hits $25B value on funding.
Bond Financial expands offering.
Mastercard, Demica are teaming.
Alloy launches underwriting offer.
SocGen live with analytics offer.
Genesis launches code building.
Tiger Global is betting on Pomelo.
State Street is testing P2P Repo.
Apifiny launches instant transfer.
Varo Bank adds new leadership.
NEXT announces new solutions.
Alpha Impact launches platform.
Vast Bank targets crypto curious.
Brex announces new partnership.
Plaid pushes deep into payments.
Ando adds $6M in funding round.
FairX to launch micro oil futures.
Goldman wants SPAC business.
FDX has launched major update.
Plaid launches the A2A program.
Brass secures $1.7M in a round.
Watch Out For This: When the World Wide Web opened for public use in 1991, its enthusiasts proclaimed a new era of unfiltered free expression.
Thirty years later, the debate is over how, not whether, to filter what’s said online. In the U.S., home to the biggest social media companies, Facebook Inc. is under particular scrutiny over which content it silences, and which it amplifies, as moderator of a discussion involving 1.9 billion people on a typical day.
Source: Bloomberg
Interesting Reads:
Power of Netflix can’t be denied.
2022 Ford hybrid truck sold out.
Trudeau intros vaccine passport.
Hidden ways ultrarich avoid tax.
Fed bans trading by top officials.
Steve Bannon held in contempt.
Market Moving Headline: Jim Paulsen of the Leuthold Group noted that correlation between the inflation rate and profit margins has been positive for the past 20 years so companies may be better off than feared as they raise prices.
“Investors are understandably concerned about reports that inflation pressures are eroding profit margins and what that may mean for the stock market,” he said in a note Thursday. However, “elevated inflation appears to bolster S&P 500 EPS on the whole.”
Source: CNBC
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