Hey, fintech fam! 💜 

Two years ago today, I took the biggest risk of my career.

I officially incorporated Fintech Is Femme and stepped into ownership as CEO — alongside my co-founder and creative director, Anton Briones — to build the media company I knew this industry was missing.

One that makes fintech human.

One that centers trust and storytelling.

One that treats women as the center of the story — not the side panel.

It started with a newsletter people told me was “too niche” and “too feminine” to scale. What they missed is that Fintech Is Femme isn’t just branding — it’s a declaration. A declaration that the industry’s most overlooked edge has always been the people driving it: women.

Two years later, we’re still here — growing independently, profitably, and intentionally. We’ve scaled this company without shortcuts, without chasing hype, and without compromising the community we’re building it for. And none of that happens without you.

To every reader who opens this newsletter, forwards it, replies, shows up to an event, listens to the podcast, or simply believes there’s room for something better in fintech — thank you. Truly. Your trust is the reason this platform exists, and it’s the reason it works.

As we wind down toward the holidays (don’t worry — I’ll still see you next Tuesday), I wanted to pause and mark the moment. In honor of Fintech Is Femme’s birthday, today’s newsletter highlights the Top 3 stories of the year — the ones you loved most, based on our strongest engagement and metrics.

They reflect what this community consistently shows us it cares about: real impact over hype, builders over headlines, and fintech that actually works for people.

From the bottom of my heart — thank you for being here and for building this with me.

Let’s get into it.

#TRENDING

#1 Why Financial Harmony Is the Missing Growth Strategy in Fintech

$98.5 million.

That’s how much money businesses are losing—every single year—thanks to cyberthreats, fraud, regulatory headaches, and old financial systems that weren’t built for the speed, scale, and complexity of today’s economy.

It’s not theoretical. It’s operational. And it’s happening right now.

In April, I got a front-row seat to the financial sector’s next big reckoning. Sitting 40 stories above Manhattan at FIS HQ—surrounded by the skyline of more than 600 financial institutions—I joined a select group of fintech leaders, policymakers, and innovators for the release of a landmark report from FIS in partnership with Oxford Economics.

The title? The Harmony Gap: Finding the Financial Upside in Uncertainty.

The thesis is clear: Financial systems out of sync cost companies millions in lost productivity, innovation, and resilience. But those closing the gap are not just weathering disruption—they’re winning because of it.

The Harmony Gap

Based on global research with 1,000 C-suite leaders across six industries, the report defines “disharmony” as any disruption or inefficiency across the money lifecycle—whether money is at rest (think: deposits), in motion (payments, transfers), or at work (investments, lending, credit infrastructure).

The results reveal a troubling disconnect between companies' goals and what their infrastructure allows them to do.

• 88% cite cyber threats as their top source of tension

• 79% report fraud as a persistent financial drain

• 65% identify regulatory complexity as a major operational hurdle

Add operational friction, outdated software, and rising expectations from both customers and regulators, and the result is a dangerous misalignment—one that slows down progress and siphons away profit.

Stephanie Ferris Says It Plainly

“Whether money is at rest, in motion, or at work—we need systems that work in harmony,” said FIS CEO Stephanie Ferris. “That’s how we build resilience. That’s how we unlock growth.”

Ferris, who leads one of the largest fintech infrastructure firms globally, isn’t just talking about optimization. She’s calling for an overhaul in how we think about growth itself.

Harmony, in her view, is no longer a luxury—it’s a strategic imperative.

Because the fintechs that will lead the next chapter of the industry aren’t just delivering functionality. They deliver trust through connected systems, smarter infrastructure, and AI-driven intelligence.

From Pain Points to Profit

The numbers are stark:

• 1 in 3 companies experience cyberattacks daily

• 74% face critical threats monthly

• 47% don’t train employees on cyber and fraud prevention

Meanwhile, outdated tech and fragmented workflows continue to cost companies millions—often quietly, in the background, through small inefficiencies that add up fast.

But proactive companies? They’re already seeing results:

• 85% of firms with dedicated fintech teams feel prepared to handle modern risks

• 83% of those embedding fintech solutions report revenue increases

• Organizations using embedded finance tools are seeing 8.5% growth in sales

Ferris made it clear: Fintech is no longer just the enabler. It’s the differentiator. 

Fintech, Ferris argued, has evolved past being a set of tools or APIs—it’s a business model in its own right.

What the Report Really Reveals

This isn’t just a tech story—it’s a leadership story.

Behind the numbers is a reality many executives feel but can’t always quantify: the misalignment between people, systems, and strategy.

Take fraud, for example. While 83% of companies say they prioritize it, 41% are unhappy with their prevention tools—and 47% don’t offer regular internal training. It’s not just a tools gap—it’s a culture gap.

Yes, 55% of companies are investing in AI and automation. But many cite steep implementation costs, lack of internal expertise, and integration friction as blockers.

The takeaway? The technology is ready. The strategy—and executive alignment—often isn’t.

The Leadership Mandate

Ferris summed it up perfectly: “Consumers expect digital onboarding. They expect you to know who they are at the point of transaction. Financial services are no longer just transactional. They’re experiential.”

The fintech companies that succeed next won’t just have better products. They’ll have better playbooks—where compliance, tech, risk, and product leaders collaborate from day one.

That shift starts in the C-suite. Not in the backend.

The Bottom Line

Fintech has always been a story of transformation. But transformation without harmony is just chaos at scale.

This report reveals not just a cost but a blueprint for competitive advantage. The businesses bridging the Harmony Gap aren’t just solving problems—they’re opening new doors for growth, agility, and customer trust.

As Firdaus Bhathena, CTO of FIS, puts it:

“A well-defined technology strategy, supported by a dedicated and knowledgeable team, is a fundamental component of a firm’s success.

Companies that invest in building or partnering with fintech expertise are better positioned to optimize their financial operations, mitigate risks, and ultimately achieve the financial harmony that drives sustainable growth.”

And that’s the real insight here: harmony isn’t just about prevention—it’s about propulsion.

It’s how you turn regulation into resilience, fraud risk into ROI, and compliance into customer confidence.

The fintechs that get this right? They won’t just survive 2025. They’ll define it.

✨ You can check out a preview of The Harmony Gap findings here.

Editor’s Note: This story originally appeared in the April 15, 2025, edition of the Fintech Is Femme newsletter—read it here.

#2 How This Quiet Fintech Player Became Mission-Critical Infrastructure

In fintech, some of the most transformative products are the ones consumers never see.

They’re not the flashy apps or glossy cards. They’re the hidden systems—the secure APIs, the clean data pipes—that make everything else possible.

But what happens when the foundation fintech is built on turns out to be broken?

For years, screen scraping—a workaround that let apps extract your bank data with nothing more than a username and password—was the default.

You’d log into a budgeting app, link your bank account, and not think twice. But behind the scenes, those connections were brittle, opaque, and deeply risky.

It worked, until it didn’t.

As breaches piled up and trust eroded, one of the least sexy corners of fintech—data access—became one of the most urgent. Now, one open-finance-focused fintech is trying to fix the whole mess.

The Fix That Wasn’t Flashy—But Changed Everything

Akoya is a fintech infrastructure provider that almost no consumers know by name—but one that more fintech companies are now relying on.

Instead of screen scraping or one-off API integrations, Akoya offers secure, standardized data sharing between financial institutions and fintech. There are no logins, no workarounds, just clean, permissioned access—on the consumer’s terms.

“Ninety-one percent of consumers have linked their bank account to a third-party app, and among Gen Z, that number jumps to 96%,” Akoya CEO Paul LaRusso told me. “Whether or not people know the term ‘open banking,’ they’re already using it—and they’ll keep using it.” 

The challenge, he added, is making sure that usage is safe.

"How do you empower consumers while ensuring their data is protected?” he said. “That’s the question—and the opportunity."

Born at Fidelity, Built for Everyone Else

Akoya’s origin story is as practical as it is prescient.

Back in 2014, up to 40% of Fidelity’s website traffic came from third-party apps scraping user data. Concerned about privacy and system strain, CEO Abigail Johnson tasked a small team to create a secure alternative.

What began as the Fidelity Access API evolved into a broader vision. 

“Abby had this idea not just to solve the problem for Fidelity—but to do it for the whole ecosystem,” said LaRusso.

By 2020, Akoya had spun out as an independent company, backed by Fidelity, The Clearing House, and 11 of the largest banks in North America.

From the start, Akoya focused on consumer-first principles rooted in control, convenience, security, and data privacy.

“We’re empowering people to use innovative fintech products while acting as trusted stewards of their data,” LaRusso said. “That means only sharing what they’ve explicitly permissioned—no usernames, no passwords, and no unnecessary access.”

Trust Is the Growth Strategy

In an age of rising fraud and AI-driven complexity, infrastructure isn’t just about scaling faster—it’s about earning trust.

“Historically, consumers had no visibility or control over their data once it was shared,” LaRusso explained. “Now, through APIs, they can see where their data goes, and stop it if they want to.”

That transparency is more than a feature—it’s a growth enabler.

Akoya operates as a network layer—connecting financial institutions and fintechs without requiring them to stitch together dozens of bespoke contracts.

“Think of us as the middle layer that replaces screen scraping with secure APIs,” LaRusso said. “We’re not just solving a technical problem—we’re helping fintechs and banks scale safely.”

Because when data-sharing is controlled, transparent, and secure, everyone wins:

• Fintechs onboard faster, without compliance headaches.

• Banks maintain trust and reduce liability.

• Consumers get full control over their financial footprint.

“Financial services have matured,” said Courtney Robinson, Akoya’s Head of Policy & Communications. “Now it’s about responsible data use. Not just can you share data—but should you?”

The Regulatory Crosswinds

Akoya sits at the intersection of shifting regulatory tides and fast-moving consumer demands.

Section 1033 of the Dodd-Frank Act, intended to formalize secure data sharing through APIs, is currently tied up in a legal battle. The twist? The CFPB—the agency that introduced the rule—is now siding with the plaintiffs.

The lawsuit is playing out in Kentucky, and it’s left many wondering what enforcement will look like.

For Akoya, the strategy is clear: keep building anyway.

“If the rule stands, we help banks comply,” LaRusso said. “If it doesn’t, we make it easy for them to do the right thing regardless.”

That’s not idealism. That’s strategy. And it matters for fintech startups trying to earn consumer trust while staying ahead of risk.

“You don’t need to wait for regulation to do the right thing,” said Robinson. “It’s simply what consumers expect. And when you meet those expectations, you build lasting relationships.”

The Paradigm Shift

Let’s be real: consumer expectations have shifted.

Financial education exploded during the pandemic. TikTok made investing go viral. And now, digital-native users expect transparency in how their data is used—and demand the ability to revoke access at any time.

For fintech founders, this isn’t just a privacy issue. It’s a product imperative.

“Companies should think about this from day one,” said Robinson. “If your customer needs access to their financial data, we can get you live safely and fast.”

That speed matters when growth is on the line.

Here’s what’s really happening:

• Trust is becoming the biggest fintech growth lever.

• Privacy-first data access builds trust.

• Companies that build trust early are the ones scaling smarter.

“We’re helping fintechs of all sizes—from early startups to enterprise banks—give users the security they deserve without sacrificing speed or innovation,” LaRusso said.

And they’re doing it without chasing headlines.

Akoya isn’t the loudest name in fintech. But it may just be one of the most consequential.

When consumers control their data—and fintechs respect that control—everyone wins.

Privacy-first platforms won’t just check compliance boxes. They’ll drive growth.

They’ll be the ones users trust, regulators respect, and investors bet on.

As LaRusso put it: “It’s about whether your users trust you to manage their money in a digital world.”

That’s not a trend. That’s the new standard.

And Akoya is helping the industry rise to meet it.

Editor’s note: This story originally appeared in the June 24, 2025, edition of the Fintech Is Femme newsletter—read it here.

#3 Research Shows Fintech Is One of the Best-Funded Sectors for Female Founders

The numbers are in, and—surprise—fintech is one of the best-funded sectors for women-led startups, according to research from Tracxn.

But don’t pop the champagne just yet: global funding for women-led tech startups is down, and 2024 shows some rocky trends. Still, fintech is holding its ground—and making waves.

Here’s the lowdown from the latest data:

Overall Funding: Women-founded tech companies globally have raised $309 billion. But 2024 saw a dip, with women-led companies securing just $29.6 billion—down 11% from 2023 and 21% from 2022. The fintech segment, though, still manages to pull in a significant chunk of that.

Early-Stage vs. Late-Stage: Late-stage funding has dropped 21%, but early-stage funding has actually bumped up 10%. Investors are getting into the game earlier, as the big firms play it safe. As a result, fintech startups (especially seed-stage) still managed to secure funding, though seed-stage funding dropped by 19%.

Fintech’s Golden Ticket: While overall funding may be dropping, fintech and enterprise applications are still pulling ahead. Fintech specifically secured $16.1 billion in 2024, signaling that the real opportunity is in solving problems that matter. Fintech is still the one to watch.

Unicorns and Exits: There’s a silver lining for women-led fintech startups: 14 unicorns (a 134% increase from last year) and 10% more exit activity. Notable exits include UK-based AI cybersecurity company Darktrace (co-founded by CEO Poppy Gustafsson) and China-based Biotheus (Co-founded by Joanne Sun)—proof that women are building companies investors want to cash in on.

City Hotspots: San Francisco is leading the pack with $9.4 billion in 2024, but New York ($1.9 billion) and London ($1.8 billion) are right behind, solidifying their position as fintech powerhouses.

The Takeaway?

Women-led fintech companies are claiming more funding than ever before and reshaping how capital is invested.

So whether you’re in early stages or building a unicorn, the opportunity is ripe. The fintech world is shifting, and women are at the forefront of driving that change. The message is clear: We’re in the game, and we’re here to stay.

The next wave of fintech growth? It’s ours.  Keep pushing, keep building, and trust me, the future of fintech will look a lot more like us.  

Editor’s Note: This story originally appeared March 27, 2025, in the Fintech Is Femme newsletter—read it here.

_{MARK YOUR CALENDARS}

Join us every Thursday to stay up to date on our fintech events! Next week, I will have an update on our 2026 in-person events. For now, join us virtually…

Nominate a brilliant woman in fintech to pitch at the Fintech Best-In-Showcase, powered by Empire Startups.

Each virtual event features five exceptional founders pitching live, with real-time feedback from decision-makers at FIS, Mastercard, TruStage Ventures, Artemis, Fiserv, and others shaping the next wave of financial innovation.

And yes — one founder walks away with Best in Show. 🏆

But every founder walks away with something far more valuable: visibility across the global fintech ecosystem.

Because visibility becomes credibility.

Credibility becomes momentum.

And momentum is how companies are born.

So — are you the best-of-the-best CEO in fintech?

Or do you know a powerhouse woman ready for her moment on the stage?

And if you want to see the next generation of fintech before everyone else…

💻 Join us from anywhere.

Ring in the New Year with the leaders defining what’s next.

_FINTUNES

🎶 Beyoncé - I’M THAT GIRL 

I've been feeling a bit uninspired this week, so of course, inspiration seems to circle back to the Queen of storytelling.

_{LET’S CONNECT}

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📚 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 💜