Hey, fintech fam! 💜

The last week has been incredible. Anton and I took our first “real” vacation of the year.

We booked a gorgeous all-inclusive resort in Mexico and had grand plans to sit by the pool and do nothing.

Spoiler alert: that didn’t work very well 😆

As I allowed my mind to quiet down and my body to remain still, I realized I crave diverse experiences and being around people.

So, we spent time with family instead. We stepped off the tourist track and connected with the locals. We ate food that didn’t come from a Yelp review.

I realized that, like our careers, the way each of us rests looks very different. For you, rest could look like lounging by the pool doing nothing. Or spending all day lost in the woods on a long hike.

However you rest, do it and do it often!

Here’s where I’ll be the next few weeks, and oddly, sometimes these events feel like a different form of rest to me. Hanging out with all of you fills my cup in ways I can’t describe, so please come say hello at:

• A Celebration of Women in Accounting: On Sept 16, I’ll be in NYC recording a live Humans of Fintech episode at a special event honoring powerhouse women in accounting, hosted by our friends at Rho. RSVP here to lock your spot.

• FIF AI Leadership Summit x Stripe: It’s official, our upcoming Leadership Summit is officially a part of #SFTechWeek, and with that comes a new registration page! Early birds sold out, but we do have our GA tickets available — be sure to lock in your spot here. For more details about the agenda, visit our event website here. Can’t wait to see you in SF soon!

Thanks for being here, and let’s get into it!

INNOVATION

From Chime to AI: Emmalyn Shaw on What’s Next for the Future of Fintech

There’s a particular kind of founder energy I can spot a mile away — equal parts stubborn optimism and receipts.

Emmalyn Shaw has both.

Long before “fintech” became a category on pitch decks, she was a product manager in the mid-90s, building portfolio analytics software with a room full of math PhDs and zero hype.

Fast-forward: she’s now co-founder and managing partner at Flourish Ventures, an $850 million early-stage fund backing 100+ fintechs globally — and yes, an early backer of Chime back when it was still fighting for its seat at the table.

“I started as a practitioner,” Shaw told me on Fintech Mavericks. “Financial services is one of the rare verticals where you can generate massive returns and, just as importantly, create meaningful outcomes for businesses and consumers.”

That line stuck with me.

It’s the thesis of this column and, honestly, the reason I launched Fintech is Femme in the first place. Profit and purpose. Impact isn’t a side quest — it’s the business model.

From “disrupt everything” to “build deliberately”

We love to romanticize the hacker-garage era of tech, but money is different.

“Financial services has appropriate guardrails,” Shaw said. “Regulation is there to protect stakeholders. That made tech adoption measured — which meant investors could make more deliberate, thesis-driven bets.”

Translation: fintech’s first wave was won by people who respected the rules and redesigned the experience anyway.

Neo-banks unbundled the checking account, ripped out overdraft penalties, and gave everyday consumers something banks hadn’t in decades: dignity.

Where are we now? On the cusp of what Shaw calls self-driving money.

“We’re watching to see how — and if — we actually get there,” she said.

Think automation that doesn’t just pay a bill, but anticipates the shortfall; that doesn’t just refinance once, but keeps optimizing; that texts you before your balance dips into a fee trap.

And yes, that’s AI, but not the spray-painted kind.

“It’s the low- to medium-income population that needs budgeting and planning automation even more than the high-net-worth population,” she said. That’s the quiet part we should say out loud. If AI is only making rich people richer, we’re doing it wrong.

Impact that moves the market

Here’s what I appreciate about Flourish’s lens: they don’t measure impact by vibes; they look for system-level change.

Chime is a clean example.

You already know their story — no overdraft fees, features like SpotMe to bridge cash-flow gaps, relentless focus on LMI customers.

The ripple effect mattered as much as the growth.

“Success like Chime’s put competitive pressure on incumbents to rethink,” Shaw said, noting how industry-wide overdraft fees fell significantly after challenger banks and regulators squeezed the status quo.

That is the assignment. Not just “build a better app,” but force the market to treat people better.

The “unsexy” stack is where the power lives

If you came for super-app fireworks, prepare to fall in love with paperwork.

Shaw gets animated when she talks about the layers that rarely make conference keynotes — claims, licensing, workflows, compliance — because that’s where AI can do more than summarize; it can change outcomes.

She points to Reserve, which uses AI to overhaul insurance claims. “Claims are painful, slow, and opaque,” she said. “Reserve has triple-digit growth because the tech transforms the experience for carriers and consumers.”

Over in compliance, Brico is automating the licensing slog — MTLS, lending, mortgage — the expensive, attorney-heavy gauntlet that keeps startups in purgatory. “Not sexy,” she laughed, “but essential.”

Why this matters: you don’t get agentic payments or “self-driving money” without identity, authentication, auditability, and rails that regulators can live with.

Picks and shovels aren’t just infrastructure; they’re permission to scale.

Founders: focus beats fog

My co-host Drew Glover raised a live-wire point on the show: we’re seeing brilliant founders solve very specific problems incredibly well — and many are choosing profitable, durable businesses over “billion-dollar or bust.”

Shaw’s take? That’s not a bug. “I like seeing more evergreen companies scaling without massive funding,” she said. “They can generate independent wealth. That’s success, too.”

But if you are building for venture scale, don’t cosplay as “everyone’s bank.” Go deep, not wide.

The path might look less like “becoming Chime” and more like earning distribution creatively (Drew pointed to funnels like travel savings that land you in a financial ecosystem).

Either way, the test is the same: can you win big enough to move the system?

And choose your partners wisely. “It’s a marriage,” Shaw said. “You’re not just partnering with a firm; you’re partnering with individuals. Do the diligence.”

I’ll co-sign that twice. Founders pitch me their companies daily; the smartest ones also reference-check investors like their runway depends on it — because it does.

Leadership you can’t fake

We talk a lot about “founder-friendly” capital. Shaw lives it.

She spent years as the only woman in far too many rooms — “Sometimes I’d walk in and someone would ask for coffee,” she joked. (“Me too. Where should we get it?”) That experience, plus raising six kids, shaped her operating system: patience, listening, partnership.

“When your kids become young adults, you stop telling them what to do. You become a guide,” she said. “It’s the same with founders — give them the leash, be a sounding board, bring resources when it matters.”

There’s a humility in her worldview that I wish more of venture would copy-paste.

When I asked for her most unpopular take, she didn’t blink: “So much of venture success is luck.” Not because expertise doesn’t matter — it does — but because timing, access, and compounding advantages are real.

Which is why she prizes teams who are maniacally mission-driven and can “sell the hell out of their vision” to customers, talent, and investors. The mission centers everything when the plan inevitably changes.

Where I land

If you’ve followed Fintech is Femme, you know I’m allergic to hype and obsessed with receipts. This conversation gave me both: a clear-eyed map of where fintech actually creates value right now (the back office we forgot to love), and a north star for consumer impact (automation that protects people living closest to the edge).

The feminine future of fintech isn’t about pink-washing a card or adding a community tab. It’s leaders like Emmalyn Shaw who refuse to separate success from significance — who build guardrails and then push the system inside them to do better.

Self-driving money won’t arrive as a single app. It’ll be stitched together by founders who respect complexity, earn trust, and ship products that make the next right decision before we have to.

That’s the work. That’s the win.

Come build the future with me: AI Leadership Summit — Oct 8 (SF Tech Week)

If this convo lit a fire under you, come keep it burning. I’m hosting the AI Leadership Summit on October 8 as part of SF Tech Week — a half-day, no-fluff gathering for founders, operators, and investors building at the intersection of AI × fintech × trust.

What we’ll cover:

• Agentic finance IRL: from “self-driving money” to compliant automation your CFO will actually approve.

• Moats that matter: data, distribution, and workflow depth (not just model wrappers).

• Responsible rails: identity, risk, and governance that unlock real deployments — not just demos.

Expect candid playbooks, founder war stories, and investors who can write the check and roll up their sleeves. If you’re shipping infrastructure, rethinking consumer financial health, or scaling AI inside a regulated environment, this room is for you.

RSVP: Save your spot for Oct 8 during SF Tech Week. Seats are limited.

Let’s build what we want the market to become. See you on Oct 8.

_{I WANT IT, I GOT IT}

• 🎧 Today’s Listen: Alligator Bites Never Heal by Doechii. I love the story of Doechii. In 2020, she was fired from her job and posted a webcam video talking about dropping by record labels and seeing about internships because she has nothing to lose. In 2025, she won a Grammy for Alligator Bites Never Heal. Follow your dreams!! 

• 🚀 Today’s Activity: Anton and I still aren’t in New York, we are in the Huntington Beach area spending time with my family. I grew up here, so it’s been so much fun showing Anton where I used to live and the things I used to do! (read: Multiple beach and In-N-Out trips, just like childhood).

• 🧘‍♀️Today’s Self-Care: Spending time with family and preparing for a red-eye flight back to New York 😅 Anyone have advice for making red-eyes less painful? I’ve done so many, you’d think I’d have better tactics, but alas, I just do my best to sleep only to wake up groggy.

_FINTUNES

Sabrina Carpenter - Tears

Our girl is out here with a rallying cry for women.

_{LET’S CONNECT}

📣 Get your tickets for the San Francisco Leadership Summit AND become a member of my private community, The Academy of Fintech! Choose your community bundle ticket here.

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

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

📚 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.

That wraps up today’s edition—thanks as always for reading! Until next time, keep innovating and challenging the status quo. 

See you Thursday!

Love,

Nicole 💜