TGIF! Dan Defrancesco In New York for the last newsletter of 2022. What a long and strange journey it has been!
quick programming notes: I’m off Monday, but I’ll be back in my inbox on Tuesday to get ready for the week ahead.
Today, we recap all the great stories you’ve done this year when it comes to financial technology, whether it’s for up-and-coming startups or projects for the biggest banks and investment firms.
But first, as Huey Lewis and The News say, Sports!
If this is forwarded to you, sign up hereDownload the Insider app Here.
Gerry Cardinale at RedBird’s Manhattan office
Crystal Cox/Insider
1. From Goldman to the goalposts.
Wall Street and sports have a long history.
For a while, sport served as the primary training ground for street life. A college teammate was my best bet for getting my foot in the company door.
Not so with jocks these days completely It operates trading floors and deal rooms, but Wall Street’s fascination with sports remains undiminished. Sports are a pipeline of deals, not a pipeline of talent.
One of the key players in this space is Gerry Cardinale, former Goldman Sachs partner and current founder and managing partner of the $7.5 billion investment firm RedBird Capital.
Profiled by Insider’s Hayley Cuccinello and Dakin Campbell, Cardinale has invested in and with big names in sports, including the New York Yankees, Dallas Cowboys, Boston Red Sox, Pittsburgh Penguins and Liverpool Football Club. I’m here.
Since its inception in 2014, RedBird has built a reputation, but that’s not all. His private equity firm is rapidly catching up on investment opportunities in sports.
There are many perks to investing in a sports team (who doesn’t want to sit in the owner’s suite?), but what Wall Street is really excited about is the return on investment. His single internal rate of return for RedBird’s fund is 34% for him, Hayley and Dakin report.
One of the sport’s greatest assets is the live audience it dominates, which translates into lucrative deals for streaming rights.
Click here to read more about Jerry Cardinale, the go-to dealmaker in sports.
Here are the top stories about fintech in 2022:
From left: Dennis Cail of Zirtue, Jacklyn Rome of Onward, Lyndsey Bunting of Blue Onion, Gil Feig of Merge.
Jirtu; Forward; Blue Onion Lab; Merge; Rachel Mendelsohn/Insider
2. Some customers felt left out about the future plans of Walmart-backed fintech companies. When the Walmart-backed fintech venture acquired One earlier this year, there was a lot of talk about the future of digital-only banks. But it didn’t take long for One to start shutting down the tools and features longtime customers depended on. Learn more about why One’s customers are so frustrated following its acquisition by retail giant Fintech.
3. JP Morgan wants to run like a startup. The country’s largest bank by assets has overhauled its technology organization to be more agile. Part of that change included the appointment of his 25 general managers to act as “mini-CEOs.” This is JPM’s new look technical team.
4. These are startups to watch. We surveyed over 40 top fintech investors to identify the most promising fintechs. These are the 61 startups that made the cut. Check out what the future of fintech looks like.
5. How Wall Street’s top companies test cutting-edge technology. Everyone likes to celebrate startups that bring innovative ideas to the financial industry, but big banks and investment firms do too. From Goldman Sachs to Two Sigma and DE Shaw, here are 10 of the most innovative technology projects by Wall Street’s top companies.
6. What’s next for Betterment? Fintech established itself as a wealth management disruptor when it launched more than a decade ago. But its core product, the so-called robo-advisor, was quickly replicated by big players in the space looking for ways to stay relevant. .
7. If you are looking to start your own business, these fintechs can help you get up and running. It may be a small business, but there are many opportunities for fintech to serve its customers. We’ve rounded up 12 fintechs to consider if you’re running a small business.
8. Leader of the cloud revolution. When it comes to financial technology, it all starts with the public cloud. The public cloud serves as the backbone of any company’s innovative plans. We mapped 14 of his executives at financial firms who lead cloud teams. We also identified Big He’s top tech executives who could be poached by Wall Street firms looking to do more with the cloud.
9. This is how Robinhood employees reacted during the GameStop meltdown. Congressional reports can be hard to get through at times, but the U.S. House Financial Services Committee report on the 2021 memestock frenzy was a joy to read. We’ve pulled the best out of Page’s report.
10. These pitch decks helped fintech companies raise millions of dollars. If you’re looking to raise money for your own startup, or are curious about how the competition pitches to investors, check out our library of pitching materials. We have over 50 decks from various fintechs.
Curated by Dan DeFrancesco, New York. Feedback or tips?Email [email protected], Tweet @dandefrancesco, or connect with us on LinkedIn. Edited by Jeffrey Cane (tweet) @jeffrey_cane) New York and the Hallam Block (tweet) @hallam_bullock) in London.
