PARTNERED WITH

Hi, fintech fam! 💜

In my hot yoga classes this week, both instructors began by emphasizing the profound interconnectedness of our world.

They reminded us that every small step we take, no matter how minor it may seem, holds significant value and creates ripple effects.

It was such a nice reminder, especially now when everyone seems super busy with fall plans or squeezing in those last-minute vacations.

We're all doing great, and we're all going to make it. 

That thought really helped me power through my workout classes and this hectic week!

Now, let's dive into fintech.

SPONSORED BY FINANCIAL PLANNING ASSOCIATION (FPA)

If you’re passionate about the intersection of technology and financial planning, the upcoming Financial Planning Association (FPA) Annual Conference is an event you can’t afford to miss.

I’ve been covering fintech for years, and one thing stands out: its power to make financial planning more inclusive, accessible, and human.

This is your chance to connect with the brightest minds in financial planning, learn cutting-edge strategies, and be part of the largest annual gathering of CFP® professionals.

Ready to take your financial planning to the next level? Join us in Columbus!

See you there!

#TRENDING

What’s Up In Fintech

Every Thursday, I share the latest news and trends in fintech. Get the most important updates to stay informed about the industry easily.

#1 Debt on the Rise—How One Fintech Steps In

Debt continues to climb across the country.

The New York Federal Reserve recently reported that household debt has reached a staggering $17.8 trillion in the second quarter. Credit card balances increased by $27 billion to $1.14 trillion.

Meanwhile, national student loan balances declined by $10 billion to $1.59 trillion. The Biden administration has been actively seeking solutions to alleviate this burden.

In a recent move, the administration filed an emergency appeal Tuesday to the Supreme Court, urging the reinstatement of the president’s student loan relief plan.

This plan, known as the SAVE (Saving on a Valuable Education) Plan, aims to lower loan payments for millions of borrowers.

Why It Matters

This week marked Financial Awareness Day, highlighting just how much work is needed in consumer fintech to address the debt crisis and its ripple effects.

Education is often seen as a path to a brighter future, but for 70% of bachelor’s degree holders, it also means taking on significant debt, with repayment periods stretching 17 to 20 years.

This burden extends beyond personal finances, affecting savings, retirement, and overall economic well-being, trapping many Americans in a cycle of debt that makes financial security seem unattainable.

Fintech companies like Laurel Taylor’s Candidly are stepping in with innovative solutions. Taylor’s mission is to eradicate student debt and empower Americans to achieve true financial prosperity.

Unlike traditional approaches, Candidly uses a B2B2C model, integrating its AI-driven debt and savings optimization tools into employer and financial institution platforms. This strategy has positioned Candidly as a solution in a market hungry for effective ways to manage student debt.

Taylor recognized that students often prioritize paying down debt before saving, which can be financially crippling.

A study by MIT’s AgeLab and TIAA found that 84% of those with student debt delay saving for retirement until their debt is paid off, missing out on the benefits of compound interest.

As a result, individuals with student debt at age 30 typically have only half the retirement savings of their debt-free peers—a reality Taylor knows all too well.

To hear more about Taylor’s journey and the importance of fintech in tackling student debt, listen to my interview with her here.

#2 Investors Focused On Interest Rates & Elections: Betterment Survey

Betterment published a June survey exploring retail investors' mindsets and behaviors across four generations: Gen Z, Millennials, Gen X, and Boomers.

The findings reveal some intriguing trends in how investors adapt to today’s economic landscape.

High interest rates are a major focus for investors, with 78% paying close attention to rates.

In response, half of the investors have moved their savings into high-yield accounts, and 42% have increased their cash holdings. Over half (52%) have even “chased yield,” opening new accounts to take advantage of better interest rates.

The upcoming elections are also a significant concern, with 57% of investors feeling anxious about the outcome. About 40% are planning to either move or withdraw their investments based on election results, with many considering boosting their savings account holdings if inflation remains high.

To be fair, this survey was conducted before Vice President Kamala Harris become the Democratic nominee.

[Read more about what her potential presidency means for fintech here]

Interestingly, despite the rise of digital resources, financial advisors are still highly valued across all age groups.

Investors who work with advisors report more confidence in their financial outlook, better investment performance, and a greater likelihood of having an emergency fund. In fact, 34% of investors have hired a financial advisor within the past year.

Social media’s influence continues to grow, particularly among younger investors. A notable 61% of Gen Z respondents and 55% of Millennials rely on social media for financial advice, with YouTube emerging as the most popular platform.

Why It Matters

For fintech professionals, this data underscores the evolving landscape of investor behavior, especially in polarizing times.

Understanding these shifts is crucial for developing products and services that meet the needs of today’s investors.

Whether it’s integrating high-yield savings options, leveraging social media for engagement, or enhancing advisory services, there’s a clear opportunity to innovate in ways that resonate with different generations.

In a rapidly changing economic environment, staying attuned to these trends can help fintech companies better serve their clients and maintain a competitive edge.

#3 Opportunity Alert: Visa’s Inclusive Fintech Accelerator

On Monday, Visa and Plug and Play dropped a press release announcing their call for applications for the Visa Inclusive Fintech Accelerator.

According to the release, the six-month program starts in June 2025 in Silicon Valley and is designed specifically for fintech startups led by diverse founders committed to inclusivity.

It sounds like the Fintech Is Femme community of Fintech founders to me.

The inaugural cohort featured 21 founders in fintech, including female-founded fintechs like Cadence Cash.

"We introduced the Visa Inclusive Fintech Accelerator to drive greater innovation and progress by championing diversity," said Vanessa Colella, Global Head of Innovation & Digital Partnerships at Visa, in a statement. 

Check out the application here.

Why It Matters

As fintech continues to evolve, ensuring diversity among startup founders isn’t just about representation—it’s a strategic necessity for long-term success and global influence.

Accelerator programs like Visa’s have the potential to address the stark lack of diversity in fintech, a problem largely rooted in the venture capital sector’s failure to fund women and diverse founders.

The reality is that venture capitalists play a critical role in deciding which innovations shape our economy. Yet, the vast majority of funding goes to white male entrepreneurs, leaving women and people of color on the sidelines.

This lack of diversity has significant consequences beyond the frustrations of underfunded female founders. It affects the types of problems fintech companies choose to solve, the products they develop, and the markets they serve.

With 98% of venture capital funding going to white males, our economy misses out on the innovation, equity, and profitability that diverse perspectives bring.

For instance, many financial services and fintech products don’t address women’s specific needs, partly because women founders struggle to secure funding.

This contributes to a wider gender wealth gap, with women investing less and missing out on potential returns.

The broader impact is clear: fewer businesses are founded, fewer needs are met, and economic growth is stunted.

The cost of this missed opportunity is staggering—potentially up to $4 trillion in lost venture capital investment by not funding diverse founders.

The data shows that investing in women-founded companies often yields higher returns, making it illogical for venture capitalists to overlook these opportunities, especially in an industry centered around money.

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.

We are also working on special perks for premium members, including exclusive access to invite-only events, input on content direction, public speaking, and personal branding coaching!

Join us in making a powerful impact. Thank you for championing women in fintech!

_{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-FRIDAY 9/18-9/20}

​[COLUMBUS] FPA ANNUAL CONFERENCE 2024

Did you know that 90% of financial decisions are driven by emotion? That’s according to Nobel Prize-winning psychologist Daniel Kahneman.

It’s a powerful reminder that financial decisions are more than just numbers—they’re a form of self-expression and a critical aspect of self-care. This is especially true when you consider that money is a leading cause of stress for 90% of Americans.

This is even more pronounced for women, who, on average, earn 17% less and have 68% less wealth than men. That’s why I’m so passionate about wealth tech—technology that’s not just changing the financial landscape but also reshaping how we approach financial wellness.

I’m thrilled to announce that I’ll be attending the FPA Annual Conference this September in Columbus for an industry-leading discussion on how technology is making financial planning more human and behaviorally-focused.

I’ll be moderating a stellar panel featuring:

🎤 Dani Fava, Chief Strategy Officer, Carson Group

🎤 Margaret J. Hartigan, Founder & CEO, Marstone

🎤 Kate Ring, Chief Compliance Officer, Stash

We’ll dive into how fintech enables financial advisors to reach more people, making financial planning accessible to everyone.

And yes, we’ll probably touch on the role of AI too. 🤖

_{MONDAY 9/9}

[NYC] ​The FINTECH IS FEMME CREATOR SUMMIT

Join us in NYC on September 9 for a day of actionable insights and connections tailored for founders, business leaders, content creators, and entrepreneurs.

The Fintech Is Femme Creator Summit bridges the gap between business leadership and content creation, bringing together those eager to leverage content for growth.

Learn from industry experts who’ve scaled profitable businesses through storytelling and fintech.

If you want to elevate your personal brand, master monetization, and network with top leaders, don’t miss this opportunity.

Register now to save 50% off general admission—the early bird sale ends soon!

_FINTUNES

🎵 Selena - Bidi Bidi Bom Bom

This newsletter is dropping into your inbox just as I land in Mexico! For the next two weeks, I'll be soaking in some new scenery and spending quality time with family. I'm listening to this right now to get into the spirit.

Here are a few more ways I can help you:

📰 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 💜