

This is fintech's 'Noah's Ark Year'
Mar 1, 2023
Mark Goldberg, fintech lead at Index Ventures, shares his insights from years of investing in financial services. He reflects on the party that was 2021 and the ensuing hangover of 2022. Mark discusses the survival of the fittest theme for 2023 and the emergence of niche neobanks amid skepticism. He also unpacks the evolving sentiment of younger generations towards traditional banks, the transformative potential of generative AI in wealth management, and how resilience is key for fintech founders in today’s landscape.
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Consumer Fintech Opportunity
- Consumer finance has been oversold, but long-term opportunities exist.
- Don't throw the baby out with the bathwater; digital native products are the future.
Fintech's Noah's Ark Year
- 2023 is fintech's "Noah's Ark" year, with massive consolidation expected.
- Only one or two winners will emerge per category, like neobanks.
Fintech and Culture Fusion
- Fintech is fusing with culture, impacting brand identity and marketing.
- Cash App's success highlights this trend, appearing in pop music and targeting specific demographics.