Retail Banking
A huge range of fintech startups are challenging incumbent consumer banks, with each new firm focused on a small range of products. These early-stage companies are highly customer-centric, put technology and software at the heart of everything they do and target underserved consumers. They have raised billions of dollars in venture capital and have tens of millions of users, yet they face the need to monetize customers and generate profits. Where startups like Affirm, Lending Club and LendUp experiment with new ways to give consumers credit, Bill.com, PayNearMe and Square are redefining payments. Chime, Denizen and Step, meanwhile, are pioneering mobile-first daily banking.