Hola fintech fam, 💜

Wrapping up an inspiring week in Mexico City—planting Fintech Is Femme roots, meeting brilliant minds, and soaking in one of the most electric fintech ecosystems in the world.

I wrote this newsletter ahead of time so I could take the weekend to wander the neighborhoods I haven’t explored yet and let curiosity lead the way.

I’ve said it before: travel sharpens my perspective. Stepping outside my usual environment reminds me why I do this work. The best ideas come when I’m learning, listening, and living in the world fintech is shaping in real time.

And this week? It’s full of signals.

→ Big Bank earnings are in—trading desks are hot now, and stablecoins are clearly next.

→ A powerful new whitepaper dropped on AI and compliance—packed with practical insights for risk leaders.

→ And we’ve got a brand-new Fintech Mavericks episode live with Kevin Jurovich—ex-NFL player turned founder—on hustle, reinvention, and building in public.

Let’s get into it.

#TRENDING

What’s Up In Fintech

Every Thursday, I bring you the latest fintech news and trends, delivering the key insights that matter most to the industry—and you.

#1 Big Bank Earnings Are In—And They’re Betting on Trading Now, Stablecoins Next

Big bank earnings are in – and they’re showcasing a pulse check on where the economy is now, and where financial services are headed.

Right now? Trading desks are keeping the lights on. Goldman Sachs just posted its best quarter for equities trading ever. Morgan Stanley and JPMorgan also beat expectations—driven by strong trading desks and market activity. 

But the future? It’s starting to look like stablecoins. Citi, JPMorgan, and Bank of America all nodded to early stablecoin activity, but it was Jane Fraser, CEO of Citi and arguably the most powerful woman in finance, who laid out the clearest roadmap.

“Digital assets are the next evolution in the broader digitization of payments, financing, and liquidity,” she said on Citi’s earnings call. “We’re already moving billions in transaction volume this year through Citi Token Services.”

And their clients want more. 

These are no longer just crypto tools. Stablecoins—digital currencies typically pegged to the U.S. dollar—are increasingly being eyed by traditional banks as the next leap in payment infrastructure.

What started as a way for crypto traders to shuttle funds between tokens is quickly becoming a battleground for how money moves in a 24/7, borderless world.

Fraser didn’t just hype stablecoins. She broke it down like an operator:

→ Stablecoins today = 88% used for crypto trades, only 6% for real-world payments

→ Existing transaction costs? As high as 7% roundtrip from fiat to coin and back

→ Citi’s play? Make that 0%—and keep it always-on, 24/7, cross-border, and frictionless

Translation: Citi isn’t just watching the stablecoin space—they’re building their own infrastructure to absorb the complexity (AML, compliance, accounting) and serve global corporate clients with a solution that works better than anything on-chain right now.

Fraser also made it clear that Citi is exploring four core use cases:

1. Reserve management for stablecoins
   

2. On- and off-ramps between fiat and digital
   

3. Custodial solutions
   

4. A potential Citi stablecoin

But the real juice? Their work in tokenized deposits—an area she says is already producing billions in volume and will only scale from here.

Meanwhile, Bank of America CEO Brian Moynihan said they’re watching client demand but won’t move without regulatory clarity. JPMorgan’s JPM Coin remains in pilot territory. Citi, however, is already executing—and calling it a “superior offering” for corporates.

“We have the killer app here,” Fraser said. “And we don’t need another bank to do it.”

Zoom out: Trading desks helped carry earnings this quarter, proving once again that fintech infrastructure isn’t just the rails—it’s the revenue. But it’s clear that the next big leap, especially for banks with cross-border dominance, is programmable money.

Stablecoins—once the province of crypto-native startups—are now becoming the proving ground for banks to reinvent how money moves globally.

And Jane Fraser? She’s not waiting for permission. She’s already building.

Why It Matters 

Throughout my years of reporting, I have observed that movements in the banking sector eventually filter into our fintech startup world. If you’re a founder, operator, or investor in fintech, here’s what this means for your roadmap:

→ Infra is everything. Big banks are moving beyond speculation into infrastructure. If your fintech product touches payments, liquidity, treasury, or compliance, you’re now competing—or partnering—with Citi-level capabilities.

→ The stablecoin land grab is starting. With regulatory momentum and global institutions stepping in, startups need to find their niche fast. Think: vertical-specific use cases, underserved markets, B2B integrations, or seamless compliance layers.

→ Partnerships > disruption. Citi isn’t trying to blow up the system—they’re absorbing it. If you’re building in stablecoins or tokenized assets, think about how you complement the legacy giants instead of replacing them.

→ Regulatory clarity is coming. The GENIUS Act and related bills moving through Congress could level the playing field—but also raise the bar. Now’s the time to get your legal, risk, and compliance infrastructure ready to scale.

→ And most importantly— ask yourself the Jane Fraser question: Are you building something clients actually want? Something always-on, cross-border, multibank, and multi-asset?

Because if not, they will.

#2 AI Is Moving Faster Than Compliance — And That’s a Risk No One Can Afford to Ignore

This morning, a new whitepaper landed on my desk—and it’s one of the clearest breakdowns I’ve seen on the risks compliance teams face as AI becomes embedded in financial systems.

Written by Christina Rea-Baxter, former CCO and founder of RayCor Consulting, the report doesn’t sugarcoat the situation:

AI is already making decisions. Credit approvals. Suspicious transaction flags. Even regulatory filings.

And most compliance leaders aren’t being asked to shape how these systems are built. They’re being asked to supervise them after deployment—without the tools or documentation to do so.

“If your compliance team is still treating AI like a black box,” Rea-Baxter writes, “this paper gives you the flashlight.”

Key Takeaways:

• AI is not just accelerating tasks; it’s initiating actions. That changes the role of oversight completely.

• Traditional model risk frameworks like SR 11-7 don’t apply. They were built for systems that are static and explainable. AI systems are dynamic, opaque, and agentic.

• Compliance can’t wait for the rebuild. Real-time governance needs to be embedded into AI workflows now.

• The AIRE™ framework (AI Risk & Explainability) offers a practical way forward—focusing on override logs, materiality, and traceability, not source code.

“The real risk isn’t bad actors,” Rea-Baxter says. “It’s good intentions paired with unchecked automation.”

Why It Matters

If you’re in fintech, regtech, banking, or compliance—this isn’t just a tech problem. It’s a governance crisis in the making.

New regulations like the EU AI Act are already going live. In the U.S., regulators are signaling that cross-functional oversight is no longer optional—it’s expected.

Founders, execs, and compliance leads should ask:

• Who owns AI accountability on our team?

• Do we have explainability protocols in place?

• Can we prove human oversight on high-risk decisions?

Because the next wave of scrutiny won’t wait until the technology matures. It’s already here. Download the full whitepaper here.

#3 From NFL to Fintech: How Kevin Jurovich Is Monetizing the Knowledge Economy

In the latest episode of Fintech Mavericks, Drew Glover and I sit down with Kevin Jurovich—former NFL player turned wealth manager turned tech founder—to unpack how he’s building Hubble, a platform helping everyday experts monetize their knowledge without the usual stunts or paid growth hacks.

Kevin’s path is anything but linear. From the highs of pro sports to managing wealth to startup life, he’s now leading with a 125,000+ strong founder community and a content-first, trust-driven GTM strategy.

His bet? That community isn’t just a channel—it’s a moat.

We dive into:

→ How LinkedIn became his go-to-market engine

→ Building Hubble with zero ad spend

→ Why the “creator-led GTM” era is just getting started

→ The honest, gritty journey behind his reinvention

🎧 Listen now on Apple, Spotify, or wherever you get your podcasts. Sponsored by Brex.

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_{FRIDAY, SEPTEMBER 19}

[NEW YORK] EMERALD CLIMATE FINTECH SUMMIT

On Tuesday, I wrote about the devastating Texas floods—and what they exposed about the fragility of our systems and the urgent role fintech must play in climate resilience.

Now, I’m putting that conviction into action.

It’s happening: The Emerald Climate Fintech Summit

🗓️ September 19 | 📍 NYC | 🌍 During Climate Week

I’m teaming up with climate fintech powerhouse Bhuva Shakti to bring together the leaders building real solutions—where climate meets capital, and women lead the charge.

Because let’s be real:

→ Climate fintech isn’t niche—it’s where the future is headed.

→ Closing the gender funding gap could unlock $12B in ROI.

→ Women-led startups are scaling faster, smarter, and more sustainably.

→ The next generation of climate innovation is already here—we just need to fund it.

A room full of the boldest fintech builders scaling what actually matters.

_FINTUNES

🎶 Majo Aguilar - No Voy A Llorar

Mexico's music is as vibrant, rich, and captivating as its cities.

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📚 Increase your expertise by ordering your copy of my book, Fintech Feminists: Increasing Inclusion, Redefining Innovation, and Changing the Future for Women Around the World.

⭐️ P.S. If you’ve read Fintech Feminists (or listened to the audiobook!), I’d be so grateful if you could take 30 seconds to leave a review or rating on Amazon here. Your support means the world to me. A million thanks in advance!

That wraps up today’s edition—thanks for reading! Until next week, keep innovating and challenging the status quo. See you Tuesday!

Love,

Nicole 💜