The FinTech IPO Index was up nearly 15% year to date, outpacing individual names that were up by high-double-digit and even triple-digit percentage points.
Earnings reports of digital upstarts in the financial services industry reveal that growth can be bumpy and volatile.
Some key themes emerging in the industry include companies building ecosystems spanning cards, cryptocurrency, loans, and modernizing payment processes.
Challenges for the digital transformation of financial services include regulatory scrutiny and increased efficiency in working with bank partners.