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"Tough times don't last, tough people do": A day in the life of Luvleen Sidhu, CEO and founder of BMTX
After graduating from Harvard in 2008, Luvleen Sidhu joined Lehman Brothers – her first day on the job was the day the company went bankrupt. As she was walking into the building to start her career, bankers were walking out of the building carrying boxes.
This experience left a mark – it was something shocking to see on television, but witnessing it in person had an even deeper impact. It revealed the fragility of the global financial system, and how the lives of millions of people can be affected by decisions made on Wall Street.
Today, Luvleen Sidhu is the youngest female founder to take a company public as the chair, CEO, and founder of BMTX, formerly known as BankMobile.
The life of a banking executive comes with challenges, and Luvleen discusses her professional journey, love for spirituality, and empowering more women to thrive in male-dominated industries.
How Atomic uses payroll data to unlock opportunities for banks, fintechs and their customers
If a bank or a fintech company wants to extend a loan to a consumer, chances are they’re probably looking at information that is living within a pay stub.
The idea of using paycheck data to access financial products and services has been around for a while – back in 2019, CB Insights research pointed towards the trend of fintechs “unbundling the paycheck” in order to help consumers combat debt or payday lending, and give them more choices to improve their financial health.
But banks aren’t really able to do this on their own, according to Lindsay Davis, head of markets at Atomic.
Speaking at Tearsheet's DataDay Conference, Davis talked about how payroll data can be used by financial providers to unlock more opportunities.
Just look at the charts
1. Digitization is turning the "unbanked" into the "banked"

Source: Richard Turrin
2. Europe is becoming a fintech hub

Source: Timo Dreger
Today's stories
JPMorgan vs Goldman Sachs vs fintech
What will happen now that two very large incumbent banks, JPMorgan and Goldman Sachs, are happily investing vast amounts of cash from their weighty balance sheets to take on fintechs? (AltFi)
CFPB ends special regulatory treatment for Payactiv
The CFPB has ended Payactiv’s Sandbox Approval Order for its earned wage access products, as the fintech prepares to change its fee model (PYMNTS)
Stake, a fintech for renters, secures $12 million Series A
With Stake, renters earn cash back when they take positive actions, like signing a lease and paying rent (Finextra)
No respite into the end of the quarter
Halfway through 2022, the Fintech IPO Index finished the week down 2.3% and is off 42.8% YTD, ending a quarter that capped the worst half for markets in decades (PYMNTS)
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