Fintech Focus For February 15, 2021

Quote To Start The Day: Do not confuse motion and progress.

Source: Alfred A. Montapert

One Big Thing In Fintech: More than 90M millennials will soon be in what Goldman Sachs calls their “prime spending years.”

Millennials have overtaken the baby boomers to become the largest generational cohort in America. In aggregate, they command $1.4T in annual spending. They have a deep antipathy to traditional financial institutions, and financial security has never been more top of mind to so many people, due in part to the economic challenges driven by the Covid-19 pandemic.

A host of startups have emerged to capitalize on these trends. These companies are making it easier to make a budget, invest, and buy stocks, as well as to get loans and credit cards.

Source: CB Insights

Other Key Fintech Developments:

• BlockFi is launching its own BTC trust.
• Fitch says crypto far from mainstream.
• YIELD looks to tackle DeFi complexity.
• Multiplayer fintech, startup data world.
• MoneyLion eyeing SPAC, crypto tech.

• Dorsey, Jay Z fund BTC development.
• Northern Trust invests in data science.
• COVID boosting electronic FI trading.
• BNP Paribas added payment tracking.
• Exberry, Digital Asset adding clearing.

• Cobalt, EPAM Systems team on tech.
• Infinite money for stock-trading apps.
• Pagaya hiring for capital development.
• Miami is rejecting Mayor’s crypto push.
• BlockFi raised Series D funding round.

• Fetch.ai, Festo team on marketplaces.
• MEMX on real route from data reform.
• Bridge Mutual launching its BMI token.
• JPM to offer BTC trading if demanded.
• Mastercard will support select cryptos.

• The $3B AUM app M1 is outcompeting.

Watch Out For This: From a burned-out bank boss to call centre workers isolated at home, the financial sector is suffering a surge in mental health issues exacerbated by the COVID-19 pandemic.

Source: Reuters

Interesting Reads:

• TikTok a battleground issue in Russia.
• Retail trading frenzy spread to Europe.
• Cuomo aide admits the hiding of data.
• Internet shutdowns to become normal.
• Stocks, cryptos rise to another record.

• Bill Gates on divesting from fossil fuel.
• President Biden calling for gun reform.
• Epic showing off 3D character creator.
• Kellogg is struggling to meet demand.
• Michael Gruen on eye-opening stories.

• Clubhouse invite-only app is explained.
• Substack newsletter revolution evolves.

Market Moving Headline: As the new administration looked to advance the status of coronavirus relief, U.S. stock index futures established record highs.

Key Takeaways:

- Positive earnings revisions nearing records.

- Equity mutual funds attract strong inflows.

- Multi-asset funds raising equity allocations.

In coming sessions, participants will want to pay attention to the $3,919.75 spike base and $3,928.25 balance-area high.

Spike’s mark the beginning of a break from value. Spikes higher (lower) are validated by trade at or above (below) the spike base (i.e., the origin of the spike).

In the best case, the S&P 500 opens and remains above the $3,919.75 spike base, confirming last week’s higher prices. In the worst case, the S&P 500 auctions below the $3,919.75 spike base.

Trade below the spike base would be the most negative outcome and may trigger a new wave of downside discovery, repairing some of the poor structures left in the wake of the aforementioned advance.

Source: Physik Invest