Apto at LendIt Fintech

Last week, we attended LendIt Fintech (or Fintech Nexus) in NYC, and we thought we’d share a few observations from the event.

We were surprised to find that the top buzzwords at the event were focused on backend best practices for:

• Underwriting - We came away from the event surprised by the number of companies providing underwriting software as a service.
• Fraud monitoring - Fraud monitoring continues to be top of mind for ourselves and others in the fintech industry. Crypto advocates often herald blockchain as the most secure means of transacting. However, scammers stole a record $14 billion in 2021 [CNBC].
• Data - The phrase “big data” was ubiquitous in the early 2010s, and the question of how to effectively (and ethically) collect and leverage data continues to be a topic of conversation.

In line with the types of startups that build card products in Apto’s developer portal daily, we heard that Gen Z is still reticent to use credit cards. Interestingly enough, we still generate high payments volume from products that offer credit-building debit (i.e., credit lines that are extended via a debit card).

Surprisingly, crypto was less of a topic of conversation than we had anticipated. More so than at other events, the conversation seemed less focused on building crypto-related fintech products and more on whether it’s an opportune time to buy the dip.

At Apto, we continue to see a strong interest in building crypto card products. We see opportunities for crypto to unlock financial opportunities for those who do not necessarily have access to things like traditional bank accounts or lines of credit.

Overall, it was a great event, and we look forward to seeing everyone at the next LendIt event!

If you’re interested in learning more about how Apto can support card programs, please reach out to us!