Fintech Focus For August 3, 2021

Quote To Start The Day: "We are our choices. Build yourself a great story.”

Source: Jeff Bezos

One Big Thing In Fintech: Fintechs keep transforming the financial services ecosystem. Banks and credit unions can no longer afford to view them as a threat. But partnerships can flop, so it's important for institutions to take steps to ensure these collaborations pay over the long term.

Source: Financial Brand

Other Key Fintech Developments:

• Element Ventures added $130M.
• Santander’s PagoNxt expanding.
• Nasdaq added Level ATS stake.
• Kuda secured $55M in Series B.
• Why Square acquired Afterpay?
• Money app Snoop added round.
• M1 Finance launches credit card.
• Credit Suisse adds fintech leader.
• LibertyX will be acquired by NCR.
• Broadridge bought Alpha Omega.
• Voyager bought Coinify platform.
• Fintech building bank for creators.
• iCapital receives a $4B valuation.
• Revolut hones cross-border offer.
• Inside JPM’s digital bank project.
• Kahuna DLT ecosystem to launch.
• Monzo warns as losses mounting.
• FTX creates NFT-focused market.
• Prepaid2Cash secured Series A.
• Square nets $55M in BTC profits.
• Wells Fargo added fintech leader.

Watch Out For This: It’s called the Great Resignation.

That’s according to Alex Simmons, co-founder and CEO at Boon Health, who says employee retention is a serious but largely avoidable problem.

“There are stats out there suggesting 30% of the workforce is going to be quitting their jobs in the next six months,” he explained. “Retention is the biggest problem we’re seeing.”

In unpacking how employers can retain, engage and maintain the mental well-being of their workforce, Simmons gave Benzinga a look into Boon Health.

Source: Benzinga

• Trade size and stock price matter.
• Debt tide recedes, counters taper.
• Analysis: Infrastructure bill impact.
• List of crypto tastemakers to follow.
• Big tech leading vaccine mandate.

Market Moving Headline: Even if it seems as if tapering is still not around the corner, if we take Powell at face value, it is getting clearer for each week that the Fed is preparing for tapering. Bullard from the FOMC even hints of QT, while the ECB is stuck in dove-land.

Source: Nordea