In today's video, I look at four fintech stocks that could benefit from the movement of digital banking. In early April, JPMorgan Chase (JPM 1.94%) sent out its annual shareholder letter. In this letter the CEO mentioned that the company is "facing extensive competition from Silicon Valley, both in the form of fintechs and Big Tech companies." Having a big bank admit that the threat from fintech companies is real pushed some of those stock prices up. Here are four stocks that could keep the momentum going in the upcoming years.
The first stock is Paypal (PYPL 1.41%). Paypal was allowed to give out PPP loans earlier this year, which established it as a strong contender in this fintech market.
The second stock is Square (SQ 1.68%), mainly known for its POS platform but expanding to digital banking. Like Paypal, Square was allowed to give PPP loans.
The third stock is PaySafe (PSFE 1.48%), a leading payments platform that allows payment processing, digital wallet, and online cash solutions.
The fourth stock is a SPAC in talks to merge with SOFI, Social Capital Hedosophia Holdings VCorp (IPOE). Sofi has numerous financial products including student loans, personal loans, and auto refinancing.
Click the video below for my full thoughts.
*Stock prices used were the closing prices of April 8, 2021. The video was published on April 9, 2021.
