In fintech's short history, attention has always flowed to the interface — the app, the wallet, the checkout screen where a customer taps "pay." But the companies capturing the most durable value are the ones the customer never sees. They own no app icons and no end-user relationships. They sit one layer below, providing the rails, licenses, and decision engines that everything visible runs on top of. They are the picks and shovels — and increasingly, they are what acquirers

When one firm controls a tool the entire industry depends on, financial trouble stops being a private matter. In a supply chain as concentrated as semiconductors, a single distressed node doesn't fail quietly — its stress travels, and firms with no direct relationship to the original shock end up paying for it. Understanding that propagation is the difference between assessing risk and actually seeing it. The concentration is the whole story. Advanced chip production depends

When the cost of capital changes, the entire grammar of dealmaking has to change with it. Between 2023 and 2026, that grammar was rewritten twice — first by the most aggressive rate-hike cycle in four decades, which compressed fintech valuations by more than half, then by artificial intelligence, which silently rebuilt the criteria investors use to decide what is worth funding and what is worth acquiring at all. The numbers tell the story before any narrative does. Global fin

For most of modern financial history, the bank was the destination. Customers went to it for credit, accounts, and payments — and the bank, in return, owned the relationship. That architecture is now quietly being dismantled. Not by a new generation of banks, but by software companies that never set out to be banks at all. Shopify has deployed over $5 billion in merchant financing. Stripe underwrites loans from payment data. Square extends credit to sellers no traditional len

Every cycle in dealmaking is shaped by forces that few notice until they have already moved the market. Interest rates, antitrust posture, the political color of regulatory agencies — these are the invisible currents that decide whether a year produces $50 billion in fintech transactions or $200 billion. 2025 was one of those inflection years, and most observers spent it looking at deal headlines instead of the policy machinery underneath. Within twelve months, the United Sta

Photograph showing the two founders : Ori Eldarov (left) and Alston Lin (right). Every year, thousands of small and mid-sized businesses change hands. Yet the vast majority of their owners navigate the most consequential financial decision of their lives without access to the advisory infrastructure that Fortune 500 companies take for granted. The traditional M&A playbook was built for billion-dollar deals, not for the local manufacturer doing $20M in revenue. Enter OffDeal,

Sustainability is no longer a buzzword. It's becoming the operating system of modern finance. From green bond markets surging past record highs to AI-driven ESG screening reshaping how capital is allocated, the convergence of digital innovation and environmental responsibility is rewriting the rules of financial intermediation. Our report, From Digital Finance to Sustainability: FinTech as a Catalyst for ESG Integration , investigates how alternative credit markets, bank-FinT

Inventor and U.S. Founding Father Benjamin Franklin has been featured on the obverse of the one-hundred-dollar bill (US$100) since 1914. For over half a century, the US dollar has reigned as the undisputed backbone of global finance, powering trade, anchoring reserves, and dictating the flow of capital across borders. But cracks are forming in this monetary order. From BRICS summits to African payment corridors, a quiet revolution is underway. Our report, De-Dollarization vi

How does FOMO distort fintech investment cycles? When innovation is rapid, uncertainty is high, and narratives spread faster than fundamentals, traditional market discipline breaks down. Fintech investing is especially exposed to FOMO. Valuations can detach from KPIs, capital clusters into the same subsectors, and fundraising timelines compress as investors rush to avoid missing the next “must-own” trend.

European political instability is no longer just a macro headline, it is actively reshaping fintech valuations, VC strategies, and exit routes. In this presentation, we analyze how regulatory uncertainty, higher interest rates, and geopolitical fragmentation across Europe are accelerating fintech consolidation, pushing investors toward compliance-ready models and making M&A the dominant exit path. From MiCA and DORA to Brexit and the French political crisis, the data shows a

Challenges, Alternative Methods, and StoneCo Case Study Fintechs are reshaping the financial landscape, from neobanks and lending...

In the fast-moving world of digital assets, the line between control and ownership is blurrier than ever. From collapses like FTX to...

This year's report delves into how fintech firms are adapting to volatile macroeconomic conditions, emphasizing AI-driven solutions, regulatory shifts, and strategic consolidations. It highlights how players are leveraging high-value deals to drive growth and shape the sector's trajectory. Highlights of the report include: Global Outlook: Notable growth in total deal value ($184.3 billion) and volume (664 deals). Regional Trends: The Americas lead in activity, with EMEA and A

Uncover the strategic depths behind Sophos's acquisition of Secureworks in our latest analysis by the Bocconi Students Fintech Society. This report dives into the merger that's set to reshape the cybersecurity landscape, offering insights into the companies' histories, their evolving business strategies, and the pivotal market trends shaping their paths. Why did Sophos acquire Secureworks, and what does this mean for the industry? Delve into our comprehensive report to explor

This report from the Bocconi Students Fintech Society explores the use of machine learning (ML) to improve credit scoring accuracy....

Credit card fraud poses significant financial and reputational risks, with billions lost annually. Machine learning (ML) is crucial in...

In today's digitalized financial landscape, ensuring the security and integrity of transactions is necessary. Cryptography plays a...

© nopporn / shutterstock.com In this report, we explore how Robo-advisory services are transforming the...

By reading our report, you will understand better what are financial buyers and strategic buyers. How do they differentiate from each other? What are their goals, investment time horizon, and decision criteria? And many more! You will find some of the major deals in 2022 and 2023 in the fintech field. Also, the report analyses overall trends of Fintech M&A in EMEA, APAC, and America. Moreover, BSFS took another approach by giving you an insight into the evolution of the M&A a

When venture capital meets decentralization, the result is more than just funding. It's a signal of conviction. In a space where protocols can reshape entire industries overnight, the VCs choosing where to deploy capital are effectively casting votes on the future of Web3. Our report, Venture Capitals in the Crypto and DeFi Industries: Joystream and Itheum , goes beyond the macro trends to zoom in on two projects at the frontier of decentralized innovation. Joystream, a block