FinTech Observers Offer Predictions for 2023 FinTech Observers Offer Predictions for 2023
FinTech

FinTech Observers Offer Predictions for 2023

While we wait for the final results of what 2022 brought to the world of FinTech, some experts are offering their predictions for what to expect in 2023. Recently, Axios asked a number of observers for their thoughts on the year ahead.

First, Kapor Capital managing partner Brian Dixon had a prediction about the future of the “buy now, pay later” (BNPL) concept, which remained popular in 2022. Dixon suggests that, rather than continuing as standalone products, credit card issuers will begin integrating such offerings into their cards. If Dixon is correct, it would shake up an industry that’s already expecting more disruption with Apple entering the fray and regulator scrutiny growing.

Speaking of scrutiny, Cowboy Ventures partner Jillian Williams brought up the topic of security. Citing the recent collapse of crypto firm FTX and the arrest of its founder Sam Bankman-Fried, Willams suggests that compliance, fraud, and risk will be “top of mind” throughout this year — including among regulators. Similarly, she expects new entrants in the security space.

Turning to what this year will bring in terms of deals, both eToro CEO Lule Demmissie and Fika VC general partner TX Zhuo offered insights. As Demmissie noted, “Dealmaking tends to pick up toward the end of bear markets, and I expect we’ll see the same situation this time around.” Meanwhile, Zhuo stated that he did not believe a slowdown in seed and Series A deals would occur. Zhou added that he expects B2B FinTech to be popular investment targets in 2023.

On a somewhat related note, Cambrian founder and general partner Rex Salisbury told Axios that he expects this year to be a good one for pre-seed and seed-stage firms looking to hire talent. He wrote, “If you’re a seed-stage company, not only are you facing less competition for job seekers, but you are also better equipped to poach from later-stage companies, where many employees are depressed because of layoffs and underwater on their equity grants.”

Finally, Inspired Capital partner and COO Mark Batsiyan as well as Lightspeed partner Justin Overdorff had thoughts about potential mergers and acquisitions in the new year. Overdorff suggests that “a few consumer neobanks” may be forced to fold in 2023 if they don’t find other exit options first. On that note, Batsiyan anticipates an “acquisition spree” from larger financial institutions that may be able to purchase startups at a good price.

With plenty of economic uncertainty abounding, these predictions could be impacted by unknown factors. Still, there are definitely some likely outcomes listed along with some interesting insights. For further prognostications, check out Axios’s full roundup.

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

FedEx Announces Winners of 11th Annual 2023 Small Business Grant Contest

Nearly three months after the entry period ended, FedEx has announced the winners of its 11th annual Small Business Grant Content. This year's event saw more than $300,000 in funds going to a variety of small businesses across the nation. Last month, the company revealed 100 finalists, with that list now being narrowed down to just 10 winners. This year's grand prize winners included KindVR, The Cupcake Collection, Up In...
Summer app

Student Loan Benefit FinTech Summer Raises $6 Million

For years, student debt has been one of the most talked about financial topics. What's more, while the debt itself has become a major part of many Americans' lives, discussion of student loans has become political due to efforts to forgive certain loan repayments. However, while we wait for resolution on that front, a FinTech that brings student debt benefit solutions to employers and consumers has raised a new round...
Melissa Urban holding a Ness card

Health and Wellness Rewards Card Ness Partners with Whole30

In recent years, several unique rewards cards have come to market. These include offerings from FinTech startups as well as brands looking to do something special for their loyal fans. On that note, a recently-announced rewards credit card offering is now working with a popular brand to introduce new benefits for customers. This week, the Ness Card (which is issued by The Bank of Missouri) unveiled a new partnership with...
Choice Privileges Select Card

Choice Hotels, Wells Fargo Debut Choice Privileges Select Card

With spring well underway and the summer travel season now just around the corner, Choice Hotels and Wells Fargo have unveiled their latest co-branded credit card offering. Today, the two companies announced the Choice Privileges Select Mastercard. Carrying an annual fee of $95, this card will serve as the premium option in the hotel brand's new lineup. Looking at the Choice Privileges Select, it offers a mix of rewards categories....
H-E-B and Central Market  credit cards

Imprint Launches Credit Cards from H-E-B and Central Market 

The FinTech Imprint is partnering with the popular Texas-based grocery chain H-E-B for a pair of new rewards credit cards. This week saw the launch of the H-E-B Visa Signature Credit Card as well as the Central Market Visa Signature Credit Card. With these two (nearly identical) options, customers will be able to earn rewards on groceries and beyond. First, both versions of the card earn up to 5% back on select...