Banking
The world is finally catching up to a simple fact: you cannot solve the ocean plastics crisis in the ocean alone. You need to solve it on land too. As we mark World Oceans Day and gather at the UN Ocean Conference next week, that truth has never been more urgent, or more investable. For years, the most visible focus on ocean plastics has centered on what happens after waste enters the water, from cleanup technologies to capture devices. These efforts play a valuable role in addressing the plastic already polluting our oceans. But the larger, investable opportunity lies upstream:…
Senator Elizabeth Warren, the Senate Banking, Housing, and Urban Affair Committee’s top Democrat is convening a forum to investigate the President Donald Trump-Elon Musk attack on the Consumer Financial Protection Bureau. It is thanks to Senator Warren that this important financial regulator even exists. She was instrumental in having the CFPB created as part of the Wall Street Reform and Consumer Protection Act of 2010. Since then, this independent agency has returned over $21 billion to Americans wronged by financial institutions and corporations. Yesterday, the Student Borrower Protection Center, Americans for Financial Reform, and the Consumer Federation of America (CFA)…
There’s been a lot of noise recently about tariffs—how they’re used, who they help, and who they hurt. For small business owners, navigating the conversation around tariffs can feel overwhelming. Are they just another tax? Are they good or bad? And more importantly, how do they impact your business? Here’s the reality: tariffs are a tool. Like any tool, they can be used effectively or create unintended consequences. At their simplest, tariffs are taxes on imports or exports. They might aim to protect domestic industries, create leverage in trade negotiations, or level the playing field when another country subsidizes its…
The question I get all the time is will generative AI lead to a vast reduction of bank jobs. It’s easy for bankers to be nervous. Recent Bloomberg Intelligence research estimates that Wall Street banks will eliminate up to 200,000 jobs over the next three to five years due to AI. Meanwhile, a Citigroup report published last year said that more than half (54%) of bank jobs will be displaced. Our own research shows that 67% of working hours in the industry could be transformed by the technology. But what if, instead, gen AI will do just the opposite and…
F or private financial technology companies, last year was a quiet one for fundraising. Fintechs raised $34 billion in 2024, down from $42 billion in 2023 and an all-time high of $144 billion in 2021, reports CB Insights. Yet a large group of young companies, some founded as much as a decade ago, started to hit their stride in 2024, showing impressive innovation and fast growth. On our 2025 Fintech 50 list, 18 of the 50 winners had never before made the cut. The Payments category claimed the most first-timers, with six. DailyPay, led by former marketing executive Stacy Greiner,…
O ver the past decade, few fintech startups have been able to disrupt the insurance business, perhaps due to the hefty sums required to compete in the industry and the worsening effects of extreme weather and climate change. Yet four insurtech companies made impressive progress in 2024, using technology to make insurance work better and faster at lower costs, and claiming spots on our Fintech 50 list for 2025. Home insurer Kin, based in Chicago, made our list for the third straight year. To keep costs and rates low, instead of employing insurance agents, it sells policies digitally and directly…
Americans Struggle with Record Credit Card DebtU.S. credit card debt reached a record $1.17 trillion in the third quarter of 2024, growing from $770 billion in the first quarter of 2021 and the share of active credit card holders making just minimum payments rose to 10.75%, the highest percentage ever in data going back to 2012. [The Guardian] Americans’ Eager Holiday Shopping Didn’t Bring a Surge in DebtThe number of consumers struggling to pay off their credit card bills remains elevated. Delinquencies, particularly on credit cards, remained at high levels during the fourth quarter of 2024, according to the Federal…
If your house is anything like mine, there has been no escape from the soundtrack from “Wicked” this year. It seems like the voices of Ariana Grande and Cynthia Erivo haven’t stopped playing in the background for months. It occurred to me that those songs from Oz were especially appropriate for the current moment in business. Companies around the world are putting their trust in artificial intelligence in much the same way that Dorothy looked to the Wizard. Over the past two years, predictions about the transformational impact of AI on business models and corporate earnings have helped stock prices…
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As we turn the page on 2024, the economic and political landscape presents both opportunities and challenges. With a new administration potentially making changes to the regulatory environment, businesses may find more opportunities for growth and re-investment. At the same time, consumer credit constraints and concerns over national debt require careful navigation. The year ahead is not about extremes—it’s about balance. Leaders must position themselves to capitalize on opportunities while preparing for potential shifts that could impact markets and their businesses. By focusing on clear indicators and staying agile, businesses can thrive in a dynamic environment. Opportunities in 2025 Interest…