FDIC is ramping up FinTech oversight 😤💳; Citi launches major AI initiative to transform employee productivity 🤖🏦; Bank M&A poised for resurgence as regulatory landscape shifts 🤝📈

FinTech is Eating the World, 5 December

Hey Everyone,

Good morning & happy Friday! Today’s issue really hot as we’re looking at the FDIC which is ramping up FinTech oversight (what does it mean for the FinTech industry & what can we expect next + some bonus reads inside), Citi that just launched a major AI initiative to transform employee productivity (why it’s a good move, what’s next for AI in Finance & Banking + bonus list of top AI startups of 2024 & their exclusive pitch decks), and bank M&As that are poised for resurgence (what’s happening & what it means + bonus of 5 templates to master the art of M&A). So let’s just jump straight into the fascinating stuff 🌶️

FDIC is ramping up FinTech oversight 😤💳

The news 🗞️ The Federal Deposit Insurance Corporation (FDIC) is implementing enhanced monitoring systems to track financial technology companies that partner with US banks, marking a significant shift in regulatory approach.

This development comes in the wake of the collapse of Synapse, a banking-as-a-service provider, which left numerous customers unable to access their funds.

Let’s take a quick look at this and see why it matters.