The Best Areas to Invest in Fintech

September 29, 2021 –

Fintech is one of the fastest-growing market segments in the economy; as of last year, the industry received one-fifth of all venture capital spending. But not all fintech opportunities are created equal, and the grass is greener in some categories. One of the potential best opportunities is a company like Petal, which provides credit cards without looking at FICO scores at all but rather using AI and large data sets to assess creditworthiness. Throughout the pandemic, one of the largest growing genres has been buy-now-pay-later companies such as Affirm and Klarna, which are fused in the economic fabric already. Recently acquired by American Express, Kabbage is harnessing AI to track customers’ financial standing and give lenders real-time insight. These burgeoning industries are a small way the industry is shaping the financial future, and large companies like Visa are looking out for acquisitions to stay ahead.

Magnifi takeaway: The Fintech industry is growing significantly and there are opportunities in firms that are integrating AI with lending products in the post-pandemic environment.

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