Fintech Focus For November 16, 2020

Quote Of The Day: If you are not willing to risk the usual, you will have to settle for the ordinary. - Jim Rohn

Fintech Movers: The most well-funded US fintech startup is SoFi, with $2.5B in disclosed equity funding. The San Francisco-based personal finance platform offers an array of financial products, from an investment platform to home loans to student loan refinancing. - CB Insights

• Top 21 decentralized finance projects.
• Citi invested in API low-code platform.
• NAB, Lighter Capital team on lending.
• Kuda, a challenger bank, raised $10M.
• FINOS added open RegTech initiative.
• Citadel heats up market share battles.
• PayPal crypto service available to US.
• Robinhood unlocks cash management.
• Biden is progressive on payment tech.
• Fintech VCs are getting larger, pricey.
• Markets, fintech become more diverse.

Watch For This: America’s adversaries, even before the contentious U.S. election aftermath, had seen a weakened country given “cleavages in the body politic” that they think they can exploit, former President Barack Obama said. - Bloomberg

• George Orwell comes to Hong Kong.
• Elon Musk’s 2020 was crazy bonkers.
• NYC intros mental health responders.
• Quibi leaders’ failure is self-sabotage.
• Formula One wants to ban wind tests.
• Feature requirements of retail traders.

Market Moving Headline: S&P 500 companies have a shot at returning to pre-pandemic levels of corporate profits in 2021, which we didn’t think was possible just a couple of months ago. We have to re-evaluate how much earnings power corporate America will have post-pandemic. - Jeffrey Buchbinder

• Resurgent virus cuts into credit trend.
• Positive EPS surprises are punished.
• Momentum’s wings slowly melt away.
• Reflation trade dealt more head fakes.
• Target canceled subscription services.
• Santander looking to cut 14% of jobs.
• Uber is looking to sell self-driving unit.
• 80% of NY hotels on verge of default.
• Ray Dalio talking China’s importance.
• Ford looking to make its own EV tech.