Fintech Focus For December 10, 2021

One Big Thing In Fintech: Is payment for order flow (PFOF) bad for investors? Absolutely not, according to a new paper from S.P. Kothari and Eric So of MIT.

Source: Axios

Other Key Fintech Developments:

• Kredivo unveiled a new card.
• Voyager grows Nascar vision. (OTC:VYGVF)
• Alloy debuted Partner Center.
• Confluence, S&P collaborate. (NYSE:SPGI)
• Kwara lands $4M seed round.
• Sympl raises $6M for SNPL.
• MX, upSWOT are partner up. 
• Rho added a $75M Series B.
• PayU added new tech patent.
• JPM looking to data science. (NYSE:JPM)
• Passbase adds $13.5M raise.
• JPM COO on fintech initiative.
• BCP, Banco Bradesco team.
• Tradeshift has added funding.
• ConnexPay added a Series B.
• Alpha Impact added features.
• Mass Fintech Hub is growing.
• FreshBooks, Sensibill partner.

Watch Out For This: Stacey Cunningham, the head of the New York Stock Exchange, is stepping down.

In a series of C-suite moves at Wall Street’s most famous stock exchange, Cunningham will step back from the daily business of all things NYSE to join the exchange’s board, Intercontinental Exchange (NYSE:ICE) chairman and CEO Jeff Sprecher wrote in a letter Monday.

Source: Fortune

Interesting Reads:

• Twitter flourishes w/out Jack? (NYSE:TWTR)
• Senate to vote on debt ceiling.
• Starbucks workers to unionize. (NASDAQ:SBUX)
• Write resumes for fintech jobs.
• Go-to tips for fintech founders.

Market Moving Headline: White House economic adviser Brian Deese said November’s inflation report won’t account for recent declines in the cost of energy and commodities, an effort by the Biden administration to downplay data that is sure to show a surge in consumer prices.

Deese said that the Consumer Price Index report to be released Friday is “backward-looking” and won’t capture “recent price movements” in gasoline and natural gas prices, as well as declines in shipping costs and commodities.

Source: Bloomberg