Is AI your new work buddy or your pink slip in disguise? WEF 2025 Davos has thoughts

    Banks, Bots, and Big Ideas; but what’s the deeper insight we’re missing?



    Every January, the world’s finance players head to Davos, Switzerland, for the World Economic Forum (WEF). This year was no exception, running from January 20 to 24 under the theme Collaboration for the Intelligent Age.

    AI was last year’s favorite talking point, popping up in nearly every session. This year it was practically the event’s co-host, sharing the spotlight with American politics — the virtual appearance of the newly elected US President, and his polarizing comments about EU regulations, which didn’t exactly win him any fans.

    AI: The front and center

    Image Source: World Economic Forum

    At WEF 2025, AI wasn’t just a topic — it was the topic. From business to governance, nearly every session revolved around AI’s impact from different angles. Key discussions included:

    • Can National Security Keep Up with AI? (The risks and rewards of AI in defense)
    • Who Benefits from Augmentation? (A deep dive into AI-human collaboration)
    • Industries in the Intelligent Age (Which sectors are evolving — or disappearing?)
    • Media Briefing: Unlocking the North Star for AI Adoption, Scaling, and Global Impact (Finding AI’s true potential)
    • State of Play: AI Governance (Balancing innovation and regulation)
    • The Dawn of Artificial General Intelligence? (How close are we, really?)
    • AI: Lifting All Boats (Can AI drive growth for everyone?)
    • Reskilling for the Intelligent Age (Preparing the workforce for what’s next)

    Figuring out whether AI is a threat, a tool, or a team player

    AI’s influence in banking and financial services has been a hot-button issue for a few years now, and it’s only getting more interesting. Financial leaders at WEF boiled it down to 3 key takes on AI’s role in banking:

    1. AI as the job cutter: AI could shake up the job market, with potential job losses in banking as tasks become automated


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    Inside the mind of Wise’s New Commercial Director for North America and her ambitious plans

      From startups to stock markets, this new leader is ready to tackle the challenge head-on



      The start of a new year is often a time for goal-setting and implementing organizational changes. Wise Platform embraced this spirit by appointing Lauren Langbridge as its new Commercial Director for North America.

      In this role, Lauren will lead the expansion of Wise Platform’s strategic partnerships integrating into financial services firms, growth initiatives, and commercial strategies across the region.

      Before joining Wise Platform, Lauren worked at Currencycloud, a private UK-based firm that offers a fully cloud-based platform for B2B cross-border payments. She helped the company grow from a startup into a global player in cross-border payments. Visa acquired Currencycloud in 2021 for $963 million (£700 million).

      I had the opportunity to sit down with Lauren to learn about her career path, her vision for Wise working with banks, and how she’s managing the transition from a private firm to a leadership role in a public company operating extensively across North America.

      Lauren Langbridge, Commercial Director for North America at Wise

      How does managing strategies in a public company differ from your experience in a private firm?

      Lauren Langbridge: Having transitioned from a VC-backed private firm to a publicly traded company, I’ve experienced firsthand the differences and opportunities in managing sales and revenue strategies. One significant shift is the level of scrutiny and accountability. At a public company, there is a broader range of stakeholders — investors, analysts, and even employees — who are closely watching performance.


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      Big Banks, Big Bucks: After a mic-drop Q4 2024, what’s on the menu for Q1 2025?

        The 3’D’ Playbook: Dollars, Deals, and Dreams



        The confetti from New Year’s celebrations has barely settled, but the banking sector is already throwing its own party. This week’s Q4 2024 earnings results have been nothing short of a financial fireworks show, with big banks flexing their muscle in style.

        Leading the charge was J.P. Morgan, reminding everyone why it’s the heavyweight champion of US banking. Profits skyrocketed 50% to $14 billion for the quarter. Revenue? Up 10% to $43.74 billion, contributed by a net interest income of $23.47 billion that exceeded analyst expectations. J.P. Morgan isn’t just making money — it’s making history.

        Citi brought home a solid $2.86 billion in net income for the final 2024 quarter. Its investment banking arm stole the spotlight, with revenue rising 35% YoY to hit $925 million.

        The numbers painted an equally lively picture over at Goldman Sachs, Wells Fargo, Bank of America, and Morgan Stanley.

        Goldman’s profit roughly doubled from a year earlier to $4.11 billion. Revenue soared 23% to $13.87 billion, driven by strong gains in equities and fixed-income trading, along with improved investment banking results. Wells Fargo posted a 47% surge in net income, reaching $5.1 billion, up from $3.45 billion in the same quarter last year, with revenue hitting $20.4 billion. Bank of America delivered $6.67 billion in net income on $25.35 billion in revenue. Meanwhile, Morgan Stanley more than doubled its quarterly profit to $3.71 billion, fueled by a standout performance in its equities trading division, which saw revenue skyrocket 51% to $3.3 billion.

        The Sweet Spot

        Even before the ball dropped on New Year’s Eve, banks were riding a wave of optimism, and here’s why:


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        The calendar flipped, and so did the market trends

          Markets are hitting refresh for the new year!



          Wishing you a fantastic start to the New Year and an amazing journey ahead!

          Let me ask the question we all know the answer to: “New Year, New Me?” Pfft, we’ve all overused that resolution like a credit card with no limit. The financial services industry has its fair share of those shiny pledges.

          But here’s something intriguing to kick off my first 10Q Newsletter of 2025: this year didn’t just start on a positive note — the industry’s optimism actually started brewing before the ball dropped. That’s a refreshing change from the gloom and doom of recent years. So, let’s dive into how and why the financial world is stepping into 2025 with a little extra spring.

          On a broader, behind-the-scenes level, December — when holiday vibes trump work emails — turned into a surprise whirlwind for us. Instead of the usual festive lull, we experienced an inbox overload with a flurry of company news, pitches, and developments. Clearly, this 2024 December decided to break tradition.

          On the external front, I’m noticing a few key trends emerging in the markets and public firms. The IPO scene for 2025 is gearing up for a surge, AI looks primed for yet another standout year, and Web3 is showing signs of a triumphant return (looks like AI’s got some competition in the ring this year).

          Let’s take a moment to see what’s taking shape in each of these areas.

          The 2025 IPO landscape

          Many big names are gearing up to make their market debut, including:


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          A rapid-fire round through the year’s hottest 10-Q stories

            Let’s hit the 2024 highlights!



            2025 is here, and with it comes the excitement of fresh starts and new horizons. But before sprinting into the future, let’s take a thoughtful pause to reflect on last year’s journey.

            Join me as we explore the highlight stories from the 10Q universe and celebrate the close of 2024!

            The Case for Connected Experiences: U.S. Bank’s vision for SMB growth

            Back in February 2024, I spoke with Shruti Patel, the Chief Product Officer for the Business Banking Segment at U.S. Bank. We talked about all things SMBs — what’s working, what’s not, and how financial institutions can step up their game.

            One thing that really gets me is the sheer tenacity of small business owners. Balancing responsibilities and confronting obstacles daily, they persevere with unwavering hope for better financial opportunities. Where does that confidence come from?

            According to Shruti, SMB owners are resilient, adaptable, and always ready to tackle whatever comes their way. They chalk it up to their work ethic, leadership skills, and adaptability. And they’re pretty good at managing stress too.

            In a U.S. Bank survey, small business owners revealed some of their secret stress-busting hacks:

            • Reminding themselves why they started their business (aka the “this is my dream” mantra)
            • Making work fun or meaningful (because why not?)
            • Setting boundaries (read: not answering emails at midnight)
            • Regularly tweaking their business strategies (change is good)
            • Hiring help to lighten the load (delegation can be a superpower)

            But here’s the rub: Small business owners wear all the hats — CEO, accountant, HR, janitor — and their biggest pain point is a lack of time. Enter digital solutions, the capes SMBs need to wear to save the day, according to Shruti. She shared that 82% of small business owners believe investing in digital tools could reduce their stress, and 42% say it would free up time for more strategic work.

            Historically, banks have given their SMB customers more and more money movement solutions for accepting payments and for making payments (POS, ACH, Zelle, Wires, RTP, BillPay in banking app). The real puzzle isn’t just about building the tech — it’s about translating it into SMB-speak. For many small business owners, payment rails might as well be train tracks to nowhere. They’re burning $200 a month on a jumble of tools and sacrificing up to 40 hours playing admin instead of entrepreneur, explained Shruti.

            Shruti’s take? It’s time for financial institutions to step up and deliver smoother digital tools that bring everything together in one place. This could be a central dashboard that connects all the dots — front office, back office, and everything in between — combined with other measures.

            Partnerships: The Good, the Bad, and the “What were we thinking?”

            Last year, partnerships have been front and center — some thriving, others combusting (hint: Apple-Goldman). With collaboration such a hot topic, I reached out to industry pros to get their take on how to prevent cracks in collaborations.


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            Trump’s Finance Focus: Fintech leaders now in government spotlight

              Finance and politics — the perfect storm of power and policy



              The dust is settling, and the nation is slowly adjusting to the idea of Donald Trump’s return to the White House. Although he won’t officially assume office until January 20, 2025, his goals and plans are already emerging at a brisk pace via Truth Social, dropping occasional curveballs to the public — in classic Trump fashion.

              Last month, we explored the key cause-and-effect dynamics that could shape the banking sector under Trump’s second presidency. This week, our spotlight shifts to his newest team members, who operate at the tricky intersection of finance and politics.

              In November, Trump made headlines with one of his first appointments: Matt Gaetz, a lawyer and politician, to lead the Justice Department. The decision sent shockwaves through the financial sector, as Gaetz’s controversial history — highlighted by a federal investigation into allegations of sex trafficking (which ultimately did not result in charges) — added a layer of unpredictability to Trump’s prospective tenure.

              More recently, the newly elected 47th President, tapped some seasoned financial leaders to oversee pivotal roles in his government, signaling his strong intent to weave financial expertise into the fabric of his administration.

              Financial heavyweights ready to step into key roles within Trump’s administration include:


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              Year-End Showdown: Wall Street’s perks & promotions are messier than your holiday leftovers

                Citi’s risky gamble with demotions and salary hike caps


                With the year winding down, banks are gearing up to chart fresh goals and objectives for the future. But first, they must face the tricky task of reviewing the current year’s performance — complete with the heated debates over promotions and bonuses. It’s a messy, high-stakes conversation that’s far from anything straightforward.

                Even more reason to celebrate this Christmas: After a two-year drought, where high interest rates stifled dealmaking and squeezed fees for investment banks and money managers, activity levels are now recovering. Last month, pay consultancy Johnson Associates shared insights that Wall Street bonuses are set to jump by as much as 35% this year, fueled by a rebound in corporate deals, stock sales, and debt transactions in 2024. Investment bankers working on debt transactions stand to benefit the most, with expected increases ranging from 25% to 35%. This is particularly promising for Goldman Sachs’ investment banking division.

                The mood surrounding M&A, dealmaking, and investment banking has also turned largely positive with Trump’s return to the political scene. Under his previous administration, banks were more active in stock buybacks, which boosted stock prices by shrinking the number of outstanding shares. Moreover, Trump’s strong pro-deregulation stance and more relaxed approach to antitrust enforcement could pave the way for a surge in mergers and acquisitions, offering banks greater opportunities to profit from both direct deals and a higher volume of transactions.

                Not so fast there: However, not all members of Wall Street institutions may find a pot of gold at the end of the rainbow. Citi, for example, is moving in the opposite direction, opting for a more conservative strategy in handling year-end bonuses, raises, and promotions.

                Remember when I covered Citibank’s bold step last year, launching a cost-cutting campaign that included its largest-ever layoffs and an overhaul led by CEO Jane Fraser? Dubbed Project Bora Bora, the plan was supposed to conclude by March 2024. Although it’s likely not over yet and it’s unclear where things stand internally, the aftermath is still reverberating, now manifesting as reductions in salary hikes and employee demotions. 


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                Bank of America on unlocking greater accessibility in reward programs

                  Retention, engagement, and access — keys to better reward programs


                  Loyalty programs have evolved into a fundamental aspect of consumer culture, widely regarded as critical for fostering customer loyalty. However, questions remain: How effective are these programs in retaining customers, how do different generations interact with them, and how accessible are they to the average consumer?

                  I spoke with Shikha Narula, Bank of America’s Head of Rewards, to explore these topics and how Bank of America’s Preferred Rewards program, now a decade old, measures and evaluates its performance in these areas.

                  Shikha Narula, head of rewards at Bank of America


                  Q: How does Bank of America ensure that all members feel valued and engaged in the Preferred Rewards program regardless of their tier? 


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                  Trump 2.0: Can Wall Street handle round two?

                    The complexity of navigating financial markets under a Trump presidency


                    The 2024 US Presidential Election has been the talk of the town throughout the year, with anticipation building over whether the Democrats or Republicans would claim victory. With results now in, Donald Trump has returned as the 47th President of the United States.

                    Reactions to his win are a mix of the expected and the unexpected, though the public response has shifted considerably from when Trump first took office in 2017 — this time, it’s less of a shock.

                    Trump’s agenda during his term includes bold promises such as tax cuts, energy policies, cost reductions, increased tariffs, greater openness toward cryptocurrency, deportation of illegal immigrants, and a more lenient regulatory stance toward banks. Whether these quick-fire decisions will stand the test of time, or if they will prove to be short-sighted in the face of evolving global challenges is a topic for another conversation.

                    With the leader now chosen, it’s time to face the bigger question: what impact will Trump’s victory have on the nation, the economy, and the banking sector?

                    While there’s plenty of talk around this topic, we narrow in on the core cause-and-effect dynamics that could unfold in the banking sector.

                    Are the big ol’ boys (banks) in for a treat?


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                    The little-noticed side of TikTok finance: From off-the-wall money tips to fresh perspectives

                      Shifting the focus from TikTok’s sketchy financial advice to savvy tips


                      I’m still hoping for the day I play Solitaire Cash and actually make some real (small though) money from it! 

                      For ages, get-rich-quick tactics have successfully tempted people with promises of quick cash, playing on the universal desire for easy money. But now, the digital boom has supercharged these tactics, creating a surge in clickbait methods to tap into people’s financial hopes and vulnerabilities. 

                      These digital spaces are also home to the largest generation, Gen Z, who feel most comfortable in the online world for any and everything. This generation prefers bite-sized videos, influencer tips, and meme-based content on platforms like Facebook, Instagram, Twitter, Snapchat, and TikTok. These channels aren’t only their entertainment spaces but also their go-to sources for navigating banking and financial decisions, where traditional banking methods often feel out of touch.

                      Financial leaders and bank executives view the financial advice flooding these platforms as “reckless” and far removed from conventional wisdom, worrying that it’s undermining the financial literacy of younger audiences. Many Gen Zers, still grappling with the basics of budgeting, are being swayed by flashy, often misleading content that could shape their financial habits in ways that don’t align with long-established principles.

                      “Kids and teens are not going to sit down and read a personal finance book. And it can be really difficult to discern missing information across social media,” Matt Wolf, SVP of business development at Greenlight said in a Tearsheet Podcast episode.

                      Sift through the noise

                      While it’s easy to be skeptical of the financial advice and information shared by non-experts on social media, it’s important to remember that there are two sides to the story. Among the noise, some influencers drawing on years of personal experience, focus on educating their audience about the fundamentals: offering mindful guidance instead of rushing into risky financial moves or promoting instant impulsive solutions.

                      It’s the way they package the advice that distinguishes them from traditional institutional wisdom. This places them in a distinct category of financial information providers — straddling the line between conventional advice and clickbait-driven influencers.

                      Following a TikTok account for financial tips is all about honing the ability to cut through the misleading voices and identify the ones that can bring real value amid a sea of misinformation.

                      Today, we look at one of the more grounded voices in the TikTok financial space and discuss why her content may make practical sense for those looking to improve their financial journey — especially women (my inner feminist just made an appearance!).


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