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Hi, fintech fam! 💜

I am absolutely thrilled to announce that our pre-sale tickets for the Fintech Is Femme Leadership Summit on April 8 have completely SOLD OUT!

But don’t fret — there's more! Early bird tickets are officially available, so be sure to secure your spot here.

Oh, and get ready to be blown away because in this newsletter I reveal our first keynote speaker for the Evening of Storytelling portion of the event, and trust me, it's going to be EPIC.

This one-hour session is like no other, where industry titans like Ellevest's Sallie Krawcheck, eToro's Lule Demmissie, and Nasdaq's Brandis DeSimone have graced the stage, sharing their awe-inspiring stories and offering invaluable insights into their leadership styles.

New York City Fintech Week is about to kick off in the most electrifying way possible. I can’t wait.

Now, let's dive into the latest news!

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WHY UPGRADE?

There’s a big difference in how the mainstream media covers fintech and how I do. Every week, I will provide you with the latest fintech news (minus the BS), profiles of inspiring women in fintech, and insightful analysis to help you stay ahead of the competition.

For our premium members, I send out updates 3x a week through our new column, "On Performance.” These columns will provide tactical advice to improve your entrepreneur and business leader performance.

Plus, premium members support female-led journalism and keep this work going. Because of your support, Fintech Is Femme is more than just a newsletter; it's a media empire and community for women to connect, learn, and support one another.

#TRENDING

What’s Up In Fintech

Every Thursday, I share news stories and trending pieces I follow. Think of it as a way to quickly find the most important news in the fintech world.

#1 How Climate Fintech Tackles Barriers to Sustainability

Combatting climate change can seem like an impossible challenge.

The cost of switching to low-carbon alternatives and the complexity of climate solutions can overwhelm individuals and businesses with financial expenses.

There is a silver lining: Fintech can solve these problems.

This week, Rise, created by Barclays, shared a Climate FinTech Thesis, highlighting how fintech — from embedded finance to alternative credit scoring — can help reduce emissions and financial savings. 

Ultimately, the thesis showcases examples of how climate fintech can change the distribution of costs and risks associated with addressing climate change.

This means that homes, schools, hospitals, and businesses can reduce their emissions and gain financial benefits.

Why It Matters:

Unsurprisingly, traditional climate finance methods have not been very effective, leaving many struggling to transition to a low-carbon economy. 

Climate change is a significant barrier to financial stability, disproportionately affecting women and people of color.

We need to do a better job of funding female climate fintech founders to solve the inequities marginalized groups face due to climate change.

Here's a list of female founders and CEOs leading global climate tech startups where we could start finding synergies with fintech.

[Do More: Fintech Founders should apply to the Rise Start-Up Academy: Climate FinTech Edition. Learn more here.]

On top of that, customers often bear the brunt of leveraging their financial resources to address climate change, which is inequitable and ineffective. 

With climate fintech, solutions become more accessible and effective for everyone. Fintech companies address issues like upfront costs, complexity, and split incentives, making sustainable practices available to individuals and businesses.

The thesis shared a few key examples.

First, companies like Toast and DeHaat leverage embedded finance to lower upfront costs for businesses and farmers, thus enabling them to invest in sustainable solutions without bearing the entire financial burden upfront. 

Meanwhile, digital investment platforms like Nutmeg are simplifying the complexities of investing in climate solutions, making it more accessible to individual investors.

Moreover, climate fintech is revolutionizing how we quantify and manage climate risk. 

Through alternative credit scoring and digital tools, startups like StaffMe and Agrograph are unlocking finance for underserved communities and facilitating the widespread adoption of climate-friendly practices.

Most importantly, climate fintech isn't just about finance; it's about driving systemic change. 

From carbon management to direct mitigation and climate risk management, these solutions pave the way for a more sustainable future.

As the world grapples with the urgent need to address climate change, the role of climate fintech cannot be overstated. 

By democratizing access to finance and simplifying the adoption of climate solutions, it offers hope in the fight against our planet's greatest challenge.

#2 Latina-Led Fintech Startup Hits Major Milestones

It's refreshing to see fintech companies making significant strides, especially when they're focused on closing societal gaps.

Suma Wealth, a fintech startup led by Latina leaders Beatriz Acevedo and Mary Hernandez, is one such company.

Their mission? To bridge the wealth gap for young Latinos in the U.S. by offering personalized financial management tools tailored to their community's needs.

Suma Wealth celebrates hitting multiple milestones that underscore its growing impact this week.

The company has surpassed 1 million users, marking a 62% increase in annual user growth. Additionally, they've secured $2.2 million in new capital led by Radicle Impact.

Not stopping there, Suma Wealth has also acquired the learning management system Intellecto, enhancing its suite of offerings and extending relationships with financial institutions keen on engaging with the Latino community.

Why It Matters

These milestones aren't just numbers on a balance sheet. They come at a critical juncture when financial literacy among Latinos in the U.S. is sorely needed.

Despite possessing a staggering purchasing power of $3.4 trillion, only about half of Latinos are fully banked.

The urgent call for financial education is amplified against the backdrop of declining investment trends, particularly impacting women and diverse founders.

What sets Suma Wealth apart is its community-first approach, combining financial tools, content, and interactive experiences to simplify complex financial topics.

Founder Acevedo leads one of the first Latina executive teams in fintech, bringing firsthand understanding of their community's challenges.

Latinos represent nearly 20% of the U.S. population but hold just 2% of available technology jobs.

Suma Wealth aims to change that narrative, seizing the untapped $182 billion opportunity in fintech and edtech within the Latino market.

The significance of Suma Wealth's success is a testament to the power of representation and community-driven initiatives in shaping industries.

Fintech companies like Suma Wealth are realizing the value of social capital and building communities that foster user belonging and empowerment.

Suma Wealth is an example of progress in a world where historically marginalized groups are leading cultural shifts.

By leveraging their shared experiences and cultural insights, they're not just building a business but paving the way for more women to do the same.

Suma Wealth's achievements remind us that fintech is more than just financial tools; it's about building meaningful connections and empowering communities to thrive.

As they continue to grow, their impact on closing the wealth gap for young Latinos in the U.S. only becomes more pronounced.

#3 Fintech Spearheading Pay Equity for Moms

Last year, Claudia Goldin's groundbreaking research earned her the Nobel Memorial Prize in Economic Sciences, shedding light on the persistent gender wage gap.

Her findings revealed a startling reality: women experience a significant decline in wealth after becoming mothers, even within the same professional realms.

This week, an analysis by The Economist underscores this issue.

While men's salaries remain relatively stable before and after becoming parents, women's earnings plummet by roughly 40%, with little improvement even a decade later.

The chart above, which I saw first on Reshma Saujani’s LinkedIn, is from The Economist's analysis of women’s employment (not pay). But as we know, the connection between jobs and motherhood penalty runs deep.

This disparity isn't confined to the United States. In Norway, for instance, research indicates a 20% decline in women's salaries post-childbirth.

Paternity leave doesn't seem to significantly mitigate this gap, but subsidized childcare shows promise in reducing the so-called "child penalty."

While policymakers debate solutions, fintech is a game-changer in the battle for pay equity, particularly during the critical post-childbirth period.

Reshma Saujani, founder of Girls Who Code and Moms First, is at the forefront of this movement.

Her organization's latest endeavor, PaidLeave.ai, leverages artificial intelligence to help parents navigate their paid leave benefits. Initially launching in New York, Saujani aims to expand this initiative nationwide.

Fintech firms can roll out similar initiatives, and some already have, tailored to support mothers and families. From flexible savings and investment accounts to personalized financial planning, these programs enable women to make informed decisions, sustain their careers, and bridge the gender pay gap.

Here are six fintech firms leading the charge:

1. UOB: The Singapore-based bank offers the "Lady’s Savings Account," integrating insurance coverage with savings to address female-specific health concerns.

2. BMPB: Access Bank's mobile wallet in Nigeria, "Better Mama, Better Pikin," provides micro-savings and insurance services for expectant mothers.

3. Goalsetter: In the U.S., Goalsetter's mobile app educates parents about finances, promoting financial responsibility from an early age.

4. Women’s World Banking: This organization facilitates safe savings for underbanked women through initiatives like "BETA Savings" in Nigeria and "Pafupi Savings" in Malawi. Also supports fintech companies.

5. Kiya.ai: Indian fintech Kiya.ai partners with NGOs to provide pregnant women and mothers with access to healthcare services.

6. Mums & Co: Based in Australia, Mums & Co offers a digital platform for entrepreneurial mothers, fostering connections and providing essential resources.

These fintech initiatives benefit individual women and contribute to the broader fight for pay equity, forging a path toward a more inclusive society.

By harnessing fintech's potential, we can pave the way for a brighter future for women, families, and society as a whole.

_{MARK YOUR CALENDARS}

Join us every Thursday to stay updated on the top fintech events each week! These events are a great way to network, learn, and connect with our fintech community. Let's fill our calendars with these awesome events - I would love to see you there! If you have an event to share, please inform me!

_{WEDNESDAY 2/14}

[VIRTUAL]: Fintech Is Femme LinkedIn Live with Vrinda Gupta: Tying in self-love with financial wellness and entrepreneurship, I’m sitting down with Vrinda Gupta, Founder & CEO of Sequin Financial.

We will discuss our experiences raising capital, building innovative businesses that challenge the status quo, and developing executive brands and thought leadership as fintech feminists.

We want to share our insights and provide as many women as possible with the blueprint they need to thrive as entrepreneurs and business leaders.

What could be a better Valentine's Day plan than spending time learning with strong women?

Join us, here.

_{MONDAY 4/8}

[NYC] Fintech Is Femme Leadership Summit: Excited to announce Liza Landsman, the CEO of Stash, will be one of our headlining speakers at the Fintech Is Femme Leadership Summit on April 8.

Liza’s street cred runs deep. She has spent her career scaling products and services that help people save and spend wisely and is deeply committed to companies that address income inequality.

She has served as:

• General Partner at NEA, where she focused across consumer, e-commerce, wellness, and fintech sectors.

• President of Jet.com and a founding member of the executive team from launch to its acquisition by Wal-Mart; following Jet’s acquisition, she joined Wal-Mart’s U.S. e-commerce leadership team.

• Chief Marketing Officer and a member of the Executive Committee at E*TRADE Financial, Global Head of Digital for BlackRock, and held various leadership roles at both Citigroup and IBM earlier in her career.

• She is an independent Board Director for Choice Hotels (CHH), Squarespace, and Applause App Quality 

• Forbes 50 Over 50, Fortune’s Most Powerful Women One to Watch, and the NOW Women of Power and Influence network.

Want to meet and learn from Liza? Grab your Early Bird ticket here!

_FINTUNES

🎵 Alicia Keys: Rehearsal Room on Apple Vision Pro

My friend just got an Apple Vision Pro and the first thing I’d like to do is watch Alicia Keys.

Will report back.

That’s all for now! Stay safe, everyone. Hug your loved ones. See you Sunday!

Love,

Nicole

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