Worldline's leadership shakeup amid financial turbulence 🥶📉; Big Banks' loss could be Smaller Banks' gain in falling rate environment ⚖️🏦; Why Big Banks are losing Gen Z 👋📱

FinTech is Eating the World, 13 September

Hey Everyone,

Good morning & happy Saturday! We’re finishing another captivating FinTech week on the weekend but boy it’s worth the wait 😤 On today’s radar, we have Worldline which’s facing a leadership shakeup amid huge financial troubles (what’s happening & why it matters + a bonus deep dive into Worldline and whether it’s worth your time & money in 20204), falling interest rate environment that could be a win for smaller banks (what’s happening and what it signals about the future + a bonus deep dive into JPMorgan & co), and see why Big Banks are losing Gen Z customers (a quick recap of the current state of affairs, what it tells us & what should we expect next). So without further ado let’s just jump straight into the interesting stuff 🌶️

Worldline's leadership shakeup amid financial turbulence 🥶📉

The news 🗞️ French payments giant Worldline is undergoing significant changes as it grapples with financial challenges and leadership transitions.

The company just announced that long-time CEO Gilles Grapinet would be stepping down, effective September 30, following a series of profit warnings that have shaken investor confidence. Deputy CEO Marc-Henri Desportes will take over as interim CEO while the company searches for a permanent replacement 👀

This leadership change comes as Worldline faces its third profit warning within a year, citing slow summer trading conditions and specific performance issues in certain markets, including its Pacific business. Ouch 🤕

Let’s take a look at this, see why it matters, and what’s next.