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Hey, fintech fam! 💜

Happy Lunar New Year, friends! 🐍

Yesterday marked the start of the Year of the Snake, and let me just say that I love seeing how everyone’s embracing the vibe.

It’s all about shedding that lousy energy and moving forward with intention—because we’re DONE giving our time to things that don’t serve us anymore.

We’re getting strategic, sneaky, and ready to take the risks that’ll help us hit our goals.

I can feel the momentum building within our community, especially as we gear up for what’s shaping to be the biggest year yet.

We’ve got some epic events on the horizon, a new podcast dropping soon (stay tuned for that BIG news!!), and, of course, all the incredible connections we’re fostering in The Academy of Fintech.

As for me, I’ll be celebrating the Year of the Snake by showing up to my friend’s annual dumpling-eating contest. Full disclosure: I clocked in 10 dumplings, but the winner ate 28. Yeah, they earned the bragging rights last year.

Alright, tons to get into today. You know the drill—the news is never boring!

#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 X Partners with Visa to Launch Digital Wallet—Is Crypto Next?

Elon Musk’s social media platform, X (formerly Twitter), just took a significant step in its ambition to become an “everything app” with a new partnership with Visa. 

The fintech giant will provide the payments backbone for X’s upcoming digital wallet, which will allow users to move money between bank accounts and digital wallets in real-time.

Think Venmo meets Zelle—except it’s housed within X’s ecosystem.

For now, it’s a traditional financial move—no crypto integration in sight. Yet, Musk’s reputation as a crypto advocate, especially for his favored digital currency, Dogecoin, has left me wondering: is this a prelude to a crypto push down the line?

The announcement comes as part of Musk’s vision for X to evolve beyond social media, much like China’s WeChat, into a platform where users can chat, make payments, book rides, and access a wide array of services—all from a single app. 

While this digital wallet is set to launch in 2025, the big takeaway here is that X is finally diving into financial services after years of Musk saying the platform would. 

The Visa deal will allow X to avoid the complex and costly process of obtaining state-level money-transfer licenses, making the wallet easier and faster to roll out. Visa Direct will power real-time money transfers, a service that will surely compete with existing players like Venmo and Zelle.

Why It Matters

From a fintech reputation perspective, I’ve got to say—I’m a little concerned about Musk leading the charge on this one. Let’s not forget the Center for Countering Digital Hate, which has been documenting the rise in hate speech on X since Musk took over. 

This nonprofit regularly publishes reports on harmful behaviors, like hate speech and extremism, across social media platforms like X, TikTok, and Facebook. Their findings have been, let’s just say, less than flattering for Musk’s leadership.

They’ve reported a disturbing increase in anti-LGBTQ hate speech and climate misinformation on X since Musk’s October 2022 acquisition. (Full disclosure: I’ve been off Twitter since 2023 and haven’t looked back.)

And they’re not alone in raising concerns. Back in November, a slew of big-name advertisers like IBM, NBCUniversal, and Comcast pulled their ads from X after a Media Matters report revealed that their ads were showing up next to content praising Nazis.

Another setback for X’s efforts to win back advertising dollars, which, by the way, still make up the bulk of its revenue.

But hey, maybe a major player in fintech like Visa can straighten things out? At the least, fintech is now part of the cultural conversation.

It’s just that I wish we were talking about it for reasons that advance financial inclusion, which—thankfully—still is happening in some spaces.

Now, let’s talk crypto for a second. Musk has made a name for himself as a vocal crypto champion, especially for Bitcoin and Dogecoin, bringing them into the spotlight through his ventures and tweets. 

But when you dig deeper into Musk’s crypto efforts and his ties to the Trump Administration, it becomes clear that the diversity and inclusion side of things is taking a back seat (or kicked out of the discussion entirely). 

The reality is that, for all the hype, crypto has struggled to be inclusive, and it still hasn’t addressed the financial needs of marginalized communities on a massive scale despite its advanced technology capable of doing so—the very problem it was supposed to solve.

Take Dogecoin, for example: Musk’s pet project. There’s little evidence it’s rooted in any real-world financial inclusion initiative. 

And while I’ll always be an advocate for crypto’s potential to help unbanked and underbanked individuals, it hasn’t delivered in a meaningful way for most consumers.

I still believe crypto can deliver on its promise of financial inclusion, but we need the right leaders who actually care about this mission to make it come to fruition.

Enter Visa. With the financial giant now stepping in to power X’s new digital wallet, we might be seeing an opportunity for the narrative to shift.

Musk may still be eyeing crypto as an innovation tool for the future, but for now, the focus seems to be on building a stable, traditional financial ecosystem that could give X an edge in the payments space.

For Musk, this is a bold move toward diversifying X’s revenue streams—but for crypto, it might signal a moment for self-reflection on its true role in fostering financial inclusion worldwide.

#2 DeepSeek: The Chinese AI App That’s Disrupting the Global Tech Scene—and What It Means for the Future of AI and Fintech

If you haven’t heard of DeepSeek, this Chinese-made artificial intelligence model has shot to the top of the Apple Store’s download charts, leaving investors buzzing and some tech stocks reeling.

Since its latest version launched on January 20, the app has caught the attention of AI experts, the tech industry, and—well, pretty much everyone.

The real story here is its cost-effectiveness. The company claims it was built at a fraction of the price of models like OpenAI’s GPT, largely due to its use of fewer advanced chips.

This has some big tech players scrambling—Nvidia, for instance, saw a staggering $600 billion drop in market value in just one day, the largest single-day loss in U.S. stock market history.

DeepSeek’s rise also raises serious questions about the geopolitical landscape, particularly around Washington’s efforts to curb Beijing’s tech ambitions.

One of the U.S. government’s key moves to contain China’s push for AI supremacy has been to restrict the export of advanced chips.

Yet, with President Xi Jinping doubling down on AI as a top priority, start-ups like DeepSeek are emerging as key players in China’s pivot from traditional manufacturing (like clothes and furniture) to cutting-edge tech like AI, electric vehicles, and, yes—chips.

Why It Matters

This all plays into a much bigger story. The global generative AI market in fintech is booming.

In 2024, the market is valued at $2 billion and is expected to hit a staggering $12.1 billion by 2030, growing at 35.5% per year.

What’s driving this rapid expansion? Several forces are converging, all of which can be traced back to the power of AI.

First, consumers are demanding more personalized financial solutions.

Gone are the days of one-size-fits-all banking. With generative AI’s ability to analyze behavioral and transactional data, fintech firms can now offer services that feel tailor-made for each individual’s needs and financial circumstances.

Then there’s the growing sophistication of cyber threats.

As the financial landscape becomes more digital, AI-driven tools for fraud detection and prevention are becoming indispensable. Generative AI is uniquely equipped to simulate potential attack scenarios and proactively mitigate risk before it even happens.

And don’t forget the regulatory side of things.

As compliance demands grow, generative AI is streamlining traditionally cumbersome processes, like Anti-Money Laundering (AML) and Know Your Customer (KYC) checks. This is where AI becomes more than just a tool—it becomes a vital component in ensuring the security and integrity of the financial system.

As digital-first banking, mobile financial platforms, and decentralized finance (DeFi) continue to reshape the fintech landscape, the need for secure, scalable AI-powered systems is more urgent than ever. Consumer preferences are shifting toward real-time transactions and self-service platforms, driving fintech companies to innovate constantly to stay ahead.

What does all this mean for the future of AI in fintech?

With companies like DeepSeek shaking up the AI space, we’re likely to see generative AI playing a transformative role in how financial services are delivered.

The possibilities are immense, from more efficient fraud prevention to more personalized financial experiences. And for fintech companies, this is an opportunity to rethink how they approach everything from compliance to customer service.

The Generative AI in fintech software segment alone is projected to reach $7.5 billion by 2030, signaling just how much growth is on the horizon.

It’s clear that the future of AI in fintech is not just about efficiency—it’s about redefining how financial services can better serve global communities.

#3 The Power of Women Entrepreneurs in Fintech: World Bank Data

When it comes to entrepreneurship, gender parity isn’t just the right thing to do—it’s a game-changer for the global economy.

According to McKinsey, advancing gender equality could add a $12 trillion boost to global GDP by 2025.

Even more impressive, the World Bank estimates that closing the gender gap in entrepreneurship and employment could increase global GDP by 20%.

If women started and grew businesses at the same rates as men, we could unlock an additional $5 to $6 trillion in global economic output.

As I’ve written extensively in my book, women-led businesses aren’t just good for the economy—they’re key to innovation and solving the world’s toughest challenges.

Whether it’s sustainable products, social impact, or community development, women entrepreneurs are leading the charge. And when they succeed, we all succeed.

The problem? Women remain underrepresented in entrepreneurial ecosystems. The World Economic Forum’s 2024 report reveals that if things keep going as they are, it will take more than 134 years to close the gender gaps in economic participation.

That’s a long time to wait.

Why It Matters

Now, let’s talk fintech. Fintech is transforming the way we manage money, from mobile payments to digital wallets to AI-driven financial services. And guess what? Women-led fintech companies are playing a massive role in shaping that transformation.

But it’s not just about what women are building—it’s about what the fintech industry gains when we embrace gender diversity.

Studies show that women bring fresh perspectives and innovative solutions to the table, especially when it comes to addressing the unique needs of underserved communities.

And let’s be honest: those are the needs fintech has the power to meet.

Here’s the thing: gender parity in entrepreneurship isn’t just a moral issue. It’s a financial one.

As the fintech space expands, we need women’s leadership to drive the innovation that’ll power the next generation of financial services.

And right now, women-led fintech is filling gaps and providing solutions to problems that matter—financial inclusion, personalized services, and fraud prevention.

Women are behind some of the most innovative fintech startups, addressing real-world challenges like access to credit in underserved areas, personalized banking for different demographics, and AI-powered tools that detect fraud before it happens.

I highlighted 17 fintech companies by women, for women, in my Forbes column. I also profile 40 women in fintech solving our economy’s most pressing issues in my book, Fintech Feminists.

This isn’t just about women creating businesses—it’s about women creating businesses that matter.

3 Ways We Can Make This Happen (by the World Economic Forum)

1. Better Access to Capital

One of the biggest barriers women face in entrepreneurship is capital access.

PitchBook data shows that women-led startups get 2% or less of venture capital funding in places like Europe and the U.S. But there’s a way forward.

Gender-lens investing is one solution that’s gaining momentum, and it’s already making a huge difference in the fintech sector. I say, just fund women because the ROI is a no-brainer, period.

Programs like the Women Entrepreneurs Finance Initiative (We-Fi) are helping to fill this gap, by mobilizing over $350 million in commitments, We-Fi has supported thousands of women entrepreneurs across emerging markets, catalyzing economic growth and job creation.

2. Building Networks and Creating New Cycles

Starting a business isn’t just about great ideas—it’s about who you know.

But for many women, getting into the right networks can feel like a challenge.

That’s where Fintech Is Femme comes in. Through events and communities like The Academy of Fintech, we’re creating more opportunities for women to connect with mentors, investors, and peers—both online and offline.

The more we share knowledge and resources, the faster women entrepreneurs can scale.

3. Inclusive Policies and Frameworks

Businesses play a huge role in ensuring that gender parity isn’t just a nice-to-have, but a priority.

Despite the Trump Administration's efforts to roll back DEI, we see major players in financial services, such as JPMorgan CEO Jamie Dimon, standing firm in their DEI programs (because clearly, he likes money).

Inclusive policies—whether it’s childcare support, gender-sensitive laws, or making sure women have access to the same financial resources as men—are key to helping women succeed.

When we talk about gender parity in entrepreneurship, we’re not just talking about equality for its sake.

We’re talking about driving economic growth, unlocking new markets, and building innovative, inclusive financial services.

Women-led businesses in fintech are already showing us the way, and the results speak for themselves. The more we support women entrepreneurs, the more we’ll see the transformative power of fintech on a global scale.

It’s time to stop talking about what women can’t do, and start focusing on what they can—because when women win in business, we all win.

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Join us every Thursday to keep up with fintech events!

_{WEDNESDAY, APRIL 23}

[NEW YORK FINTECH WEEK] Fintech Is Femme Leadership Summit 2025

​We’re back and ready to take center stage at New York Fintech Week 2025! 🎤

If you missed it last year, don’t worry—we’ve got you covered. Here’s a quick recap of the magic that went down.

This year? We’re going BIG—doubling our size, impact, and presence. We’re bringing even more insight, innovation, and networking opportunities to the fintech community than ever before.

Early bird tickets are flying off the shelves, and trust me, you don’t want to miss out. Want to level up? We’ve also got VIP tickets available for those who want an extra edge.

Grab yours before they’re gone!

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🎵 Megan Thee Stallion - HISS

In honor of the year of the snake, bringing this hit back.

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

📚 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 💜