IN PARTNERSHIP WITH

Hi, fintech fam! 💜

Back in NYC after a whirlwind week—three cities, three speaking gigs, and I’m wrapping it up with a bang: Moderating panels at Climate Week NYC! (Details below!)

ICYMI, speaking is my thing. Especially when it comes to curating and moderating panels. With 10 years of journalism under my belt and a killer network of experts, I love crafting discussions that leave audiences with real, actionable insights—no fluff.

When I’m on stage, my panelists are bringing their A-game.

Want to book me for your next event? Hit reply, and I’ll get back to you if it’s a good fit!

Now, let's dive into some fintech news.

UPGRADE TO BECOME A FINTECH FEMINIST

Discover the difference between mainstream media and Fintech Is Femme. Every week, I deliver the latest fintech news without the fluff, profiles of trailblazing women in the industry, and insightful analysis to keep you ahead of the curve.

For just $50, becoming a premium member means you’re not just supporting female-led journalism—you’re fueling a movement. Your support transforms Fintech Is Femme from a newsletter into a thriving media empire and community where women connect, learn, and uplift one another.

#TRENDING

What’s Up In Fintech

Every Thursday, I deliver the hottest fintech news and trends, keeping you updated with the most essential insights impacting the industry.

#1 Fed Hits the Brakes: What the Interest Rate Cut Means for Fintech

On September 18, 2024, the Federal Reserve made headlines by slashing interest rates by 0.5 percentage points—its first major move since 2020.

The new benchmark rate is between 4.75% and 5%, a clear attempt to jumpstart the slowing U.S. economy. Lower rates, of course, mean cheaper borrowing for consumers and small businesses, but one industry is uniquely positioned to ride this wave: fintech.

Fintech companies thrive on tech-driven efficiency and innovation, and with lower rates, they could be sitting pretty for a few key reasons:

Easier Access to Capital: With borrowing costs down, fintech firms may find it easier (and cheaper) to secure funding for growth, development, and expansion into new markets. Venture capitalists? They’re likely to keep the cash flowing.

Boost in Digital Lending: Online lenders and peer-to-peer platforms are well-positioned to capitalize on consumers looking for faster, more flexible loan options. A rate cut could fuel demand for fintech-powered loans, especially with the big banks slowing down on credit availability.

Opportunity for Expansion: Lower rates could spur small businesses to seek loans and credit—areas where fintech players like Stripe, Square, and Klarna have already made inroads. More borrowing could mean more transactions and higher revenues in this sector.

Industry-Wide Ripple Effects

Beyond just the lending space, fintech companies across the board could see ripple effects:

Payment Processors: Companies like PayPal and Square may see increased transaction volumes as consumers feel more confident spending with their wallets not as tightly squeezed.

Digital Banks: Neobanks, which operate with lower overhead than traditional banks, may attract rate-conscious customers hunting for better deals.

Crypto & Blockchain: While the relationship between interest rates and crypto isn’t always straightforward, a looser monetary environment could attract more investors back to speculative assets—yes, we’re talking Bitcoin.

Bottom Line: While the Fed’s rate cut might be a lifeline for traditional businesses, fintech is primed to not just survive but thrive. Lower borrowing costs and increased consumer confidence could be just what the industry needs to accelerate its next phase of growth.

#2 F.D.I.C. Cracks Down: Banks Could Soon Track Fintech Customers

The Federal Deposit Insurance Corporation (F.D.I.C.) isn’t playing around. On Tuesday, they rolled out a proposal that could change the way banks handle fintech customers’ money, adding a crucial layer of security to prevent the chaos caused by fintech collapses.

What’s Going On?

The F.D.I.C. wants banks holding money for fintech apps (think digital wallets, payday loan apps, or robo-investing platforms) to keep track of customers’ identities and balances.

Why?

Earlier this year, when banking software company Synapse Financial Technologies went under, thousands of people found themselves cut off from $300 million of their own money for months. Not exactly ideal.

Right now, customers might not even know which traditional bank is holding their cash when they use a money management app. The money is often pooled into a single account, and banks haven’t been required to keep tabs on who the money actually belongs to—until now.

What’s Changing?

Under the new rules, banks holding fintech deposits will need to:

• Know the Customer: Banks will be required to keep records of every fintech customer’s identity, so no more getting lost in the shuffle.

• Track Balances: Daily records of customer balances will be mandatory. Banks will need to know exactly how much is sitting in those pooled accounts.

• Regulator-Ready: In case fintech companies fail or collapse (Synapse, we’re looking at you), banks will have to be able to provide regulators with the necessary info on who’s owed what.

Why This Matters

This isn’t just about paperwork—it’s about protecting customers when fintech companies go belly up.

If a traditional bank or one of its fintech partners fails, the F.D.I.C. needs to know which customers are entitled to their deposit insurance coverage (up to $250,000, in case you’re wondering).

Without these records, it’s a nightmare for regulators to sort out whose money is covered and whose isn’t.

Lesson from Synapse: When Synapse went bankrupt this spring, it only had $2 million in cash on hand, but its fintech partners’ customers were collectively locked out of $300 million. This proposal is designed to avoid that scenario playing out again.

Small Banks, Big Impact?

Not everyone’s excited. The new rules might feel like a burden for smaller banks that handle fintech deposits, as keeping up with new record-keeping requirements could slow down their growth. However, regulators insist that this change is targeted only at banks handling specific kinds of fintech deposits—so most traditional banking operations won’t be affected.

Bottom Line: This is just the first step in the process. Regulators are now looking for feedback from banks and the public to help shape the final rules. So, watch this space—this could be a game-changer for how banks and fintech companies interact.

#3 AI and Financial Planning: The Future is Here, But It’s Still Human

AI is no longer just the future of finance—it’s the present.

At the FPA Annual Conference in Columbus today, industry leaders came together to discuss how technology is making financial planning more human and behaviorally focused. I had the pleasure of moderating a stellar panel featuring:

• Dani Fava, Chief Strategy Officer, Carson Group

• Margaret J. Hartigan, Founder & CEO, Marstone

• Kate Ring, Chief Compliance Officer, Stash

Here are the highlights from our discussion, including how AI is shaking up the financial planning world without replacing the human touch.

AI = New Possibilities for Financial Planners

Generative AI tools are unlocking game-changing opportunities. Panelists highlighted how AI can automate time-consuming tasks, generate personalized content, and uncover deep, data-driven insights faster than ever before.

• Efficiency Gains: AI is handling everything from number-crunching to content creation, leaving financial planners with more time to focus on the big picture for their clients.

The Great Wealth Transfer: A Perfect AI Opportunity

One of the biggest financial shifts in history is already underway—the Great Wealth Transfer, where trillions of dollars are being passed from Baby Boomers to younger generations. AI can help financial planners navigate this shift by offering more personalized, data-driven strategies to manage the unique needs of both generations.

• Personalized Client Support: AI can analyze client data to anticipate the needs of those inheriting wealth, whether it’s optimizing investment strategies or offering tailored tax advice.

• Bridging the Generational Gap: Younger clients often have different financial goals and expectations, so AI can help advisors provide customized guidance, ensuring both the older and younger generations are well-supported through the transfer.

Enhancing, Not Replacing, the Human Element

The key takeaway? AI is a tool to enhance—not replace—the human connection. As Dani Fava of Carson Group said, “The real power lies in how it can enhance the human connection between advisors and clients.”

• Automation Meets Empathy: With AI handling the back-end analysis, financial planners can spend more time understanding their clients’ unique needs and goals, especially during significant financial transitions like the Great Wealth Transfer.

Younger Generations Want More

Margaret Hartigan of Marstone highlighted a critical shift in the expectations of younger clients. They’re looking for a more interactive, engaging financial experience, and AI tools can help planners meet them where they are.

• Gamifying Financial Education: Hartigan said AI can help “gamify the learning process” to make financial education more aspirational and interactive—perfect for the TikTok and Instagram generation.

But, Here’s the Catch: Compliance

New tech means new hurdles. AI might bring efficiency, but it also introduces complexities around compliance and regulation. As Kate Ring from Stash pointed out,

“Transparency and a proactive approach to addressing [regulators’] concerns will be key to gaining acceptance.”

• Regulatory Roadblocks: Firms must be upfront with regulators about how they plan to use AI and ensure they address potential compliance concerns from the start.

Freeing Up Time for What Matters: The Client

One of the biggest benefits of AI in financial planning? It frees up time. By automating administrative tasks, AI allows financial advisors to focus on the human side of the business—building relationships, understanding goals, and creating customized strategies.

• More Time, Better Service: Fava noted that “AI can handle the number-crunching and data analysis, allowing us to devote more time to understanding our clients.”

• Managing Transitions with Precision: As trillions change hands during the Great Wealth Transfer, AI can track and optimize wealth management strategies, ensuring smooth transitions for inheritors while allowing planners to maintain personal connections with both sides of the family.

Bottom Line: AI is here to stay, and it’s already making an impact. But while automation can streamline processes and boost efficiency, the real value still lies in the human connection. Financial planners who embrace AI to enhance their client relationships—especially during monumental shifts like the Great Wealth Transfer—are the ones who will truly thrive.

_{MARK YOUR CALENDARS}

Come join us every Thursday to keep up with the best fintech events! These events are perfect for meeting people, learning new things, and connecting with our fintech community. Let's add these fun events to our schedules - I hope to see you there!

_{MARCH 10-13, 2025}

[LAS VEGAS] FINTECH MEETUP 

Hey friends, heads up—this is your last chance to snag that sweet 35% discount for Fintech Meetup! 💥

Real talk: Fintech Meetup is hands-down one of my fave events of the year. Kicking off in March (aka Women’s History Month!), it’s like the fintech fam’s big reunion, and trust me—2025 is all about community and collaboration. 🤝

I’ve been going for two years, and every single time, I leave with connections that level up my biz. This’ll be my third year, and I can promise you: this event is the real deal.

But heads up—this week is your last chance to score tickets at a 35% discount (yep, that’s up to $1,300 off!). With 60,000 meetings and major ROI, you do not want to miss this.

Grab your spot now, and I’ll see you there! 🚀

_{OCTOBER 7-8}

If the idea of kicking off your international expansion in Italy while growing your global network sounds like your vibe, hit reply!

I have an exciting opportunity.

I’m looking for fintech founders and CEOs to join us in Milan, Italy, for an exclusive VIP program during the Milan Fintech Summit, Oct. 7-9. 🇮🇹

You’ll get complimentary hotel accommodations, summit tickets, curated dinners, networking opportunities, and—get this—a chance to speak on stage! 🎤

There are only TWO slots available.

Want in? Just reply to this email, and I’ll send you all the details.

_{SEPT 20}

There’s still time! Join a community of executive women, climate tech innovators, and impact investors at the Emerald Summit 2024 on September 20th.

This year, we're focused on boosting venture capital and project finance for women-led climate startups in sustainability, inclusion, education, and tech.

Can’t wait to see you there! RSVP for the free event here.

_{OCTOBER 8 & 10}

Exciting News: I’m teaming up with the amazing Lisa Carmen Wang as a Venture Partner for the BAD BITCH EMPIRE Fund (BBE Fund)! 💥

This partnership is a game-changer. Fintech Is Femme started as a platform to amplify women in fintech, and now we’re taking it further by FUNDING them. 💪🏽

Women are building high-ROI businesses, and it’s time to invest in a female-led economy. This is how we close the gap.

Here’s what’s happening:

💸 10/8 Investing Workshop: Join us to learn how we’re investing in the next billion-dollar companies. RSVP.

👊🏽 10/10 Bad Bitch Pitch

Ready to pitch? Apply by 10/1, and show us what you’ve got! Mention Fintech Is Femme. Apply.

_FINTUNES

🎵 Tate McRae - It's ok I'm ok

Tate McRae effortlessly channels early 2000s pop vibes, delivering a performance that echoes the iconic styles of Britney Spears and Christina Aguilera. The nostalgia is undeniable!

_{LET’S CONNECT}

📰 Share this newsletter with a friend and start growing your network.

🔗 Connect with me on LinkedIn for daily insights on female leadership.

🤝 Grow your business through content & community by partnering with me.

📣 Promote yourself to 50,000 subscribers by sponsoring this newsletter.

🎤 Host an epic event by booking me as a speaker, moderator, or emcee.

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

That’s all for now! See you Tuesday!

Love,

Nicole 💜