Fintech Focus For December 8, 2021

One Big Thing In Fintech: Time is money.

That’s according to Kosta Ligris, the CEO and co-founder at Stavvy, a Boston-based fintech connecting lenders with third-party vendors.

“Every time something has to be repeated manually, or there are systems that don’t talk to each other, there’s a tremendous amount of disconnect,” Ligris explained.

In learning more about how Stavvy reduces errors and cost as a middleware to banks and their vendors, read on.

Source: Benzinga

Other Key Fintech Developments:

• Hummingbird secures $30M.
• Verto streamlining payments.
• Uala starts its own brokerage.
• Stash eyes value proposition.
• Zopa will reduce P2P lending.
• Jumio plans to acquire 4Stop.
• FNZ plans to acquire Appway.
• Certik secures $80M funding.
• Visa is piloting new offerings. V
• WeLab planning to buy bank.
• Stacks secured $35M round.
• MAJORITY adds new round.
• TRM Labs added investment.
• Holaplex secures $6M round.
• Impact, Google Pay team up.
• Greenlight appointed leaders.
• Talos joins the Pyth Network.
• Binance intros a $200M fund.
• A Lyft CFO left for OpenSea.
• AMEX, Nova Credit team up. AXP
• Gibraltar integrates DLT tech.
• Dock bought Cacao Paycard.
• Numerated scales loan offer.

Watch Out For This: President Joe Biden says his administration is focused on policing cryptocurrency crimes to combat corruption globally and is taking advantage of a newly formed Department of Justice task force, according to an anti-graft report released Monday.

Source: Bloomberg

Interesting Reads:

• Twitter acquires a Slack rival. TWTR
• Goldman warned on volatility. GS
• Home affordability worsening.
• Better.com deals with fiascos.

Market Moving Headline: With the market being driven by the same mega-cap tech stocks, investors for the past few years had started to migrate away from being long all of the mega-caps and have taken more of a bar-belled approach.

This caused a lot of investors to hide in some of the high beta/growth names in an effort to beat their benchmarks.

The issue now is that breadth remains poor, and everyone has been long names like ZM, TWLO, and DOCU, and underweight a bunch of the mega-caps that continue to drive the market higher; and that’s not to mention the TSLA and NVDA moves which have caught investors incredibly off-guard given their lack of exposure.

Source: JPMorgan