We are entering the thick of fintech earnings season and in the last 24 hours, we have seen earnings from two fintech pioneers: PayPal and Adyen. They tell very different stories.

Late yesterday, we heard the news that Onfido, a pioneer in ID verification used by banks and fintechs all over the world, is going to be acquired by Entrust, a diversified security and verification company.

Payment by bank account is a functionality that has existed for more than a decade in many countries. But it is still a relatively new phenomenon in the U.S.

It was three ago last week when LendingClub closed its acquisition of Radius Bank. At that time LendingClub entered into an operating agreement with the OCC that imposed capital restraints and growth limits on the fintech pioneer.

We have been following the recent developments in real-time payments with some interest. While adoption is increasing it is not going as fast as many industry observers had hoped.

There is a new report out today that looks at the impact of generative AI on the workforce and what industries will be most impacted. We have heard before that white-collar jobs, those people with college degrees will be most impacted. This report tries to quantify some of this impact.

Yesterday, Apple shared details on Apple Card usage for the first time. The card was introduced in 2019 and since then it has acquired 12 million users, not a bad effort in less than five years. Users earn Daily Cash rewards when they use the card and Apple reported that the total for 2023 was over $1 billion.