Financial Technology, or Fintech, refers to using technology to enhance or automate financial services. Fintech has grown rapidly since the pandemic, as it has made our lives easier by making financial services more accessible, efficient, and affordable.
Conventional financial companies Visa Inc. (V) and Mastercard Incorporated (MA) are now leading the charge by bringing exciting innovations in fintech. However, not all financial companies have been able to capitalize on the industry’s growth. SoFi Technologies, Inc. (SOFI) failed to keep up and is struggling to stay afloat. So, while investing in V and MA could be wise, I am extremely bearish on SOFI.
