4 Trending Fintech Stocks For Your January 2022 Watchlist
It is no secret that fintech stocks have been under pressure in the stock market lately. Well, whether it is the expectations of Fed rate hikes or concerns around the Omicron wave, investors are understandably cautious. However, some may view the current predicament as a buying opportunity. After all, the use of fintech will likely stick around for the foreseeable future. We are looking at a transformative industry that may phase out physical transactions such as the use of cash.
Take Block (NYSE: SQ) for instance, the company’s stock has been on a decline over the past few months but some large funds continue to buy the stock. Well, the company has excelled in many of its offerings up to this point. So, it is easy to understand why investors are keeping close tabs on SQ stock. Also, investors may be watching to see if Block can make the most of its acquisition of ‘buy now, pay later’ firm Afterpay (OTCMKTS: AFTPF).
Besides that, there is also analyst coverage from the likes of Goldman Sachs (NYSE: GS), UBS (NYSE: UBS), and Morgan Stanley (NYSE: MS) giving positive outlooks on Latin American digital banking firm Nu Holdings (NYSE: NU), which went public last month. Jorge Kuri from Morgan Stanley believes that Nu could be one of the “largest and fastest-growing digital banking platforms with a highly recognized and valuable brand” right now. So, it would not be surprising if the fintech industry continues to expand. With all this in mind, let’s look at some of the top fintech stocks to watch in the stock market today.
Fintech Stocks To Watch Right Now
- Paypal Holdings Inc (NASDAQ: PYPL)
- Visa Inc (NYSE: V)
- Mastercard Inc (NYSE: MA)
- nCino (NASDAQ: NCNO)
Paypal
Firstly, we have one of the leading technology and digital payments companies in PayPal. Essentially, the company enables digital and mobile payment on behalf of consumers and merchants. Its combined payment solutions include Venmo, PayPal, PayPal Credit, Xoom, iZettle, and Hyperwallet. Hence, customers can use their accounts for both paying for goods, as well as to transfer and withdraw funds.
It appears that the company is exploring the launch of its own stablecoin as part of its cryptocurrency push. This can be confirmed through the evidence discovered inside its iPhone app. Hidden codes and images were found and were dubbed as a “PayPal Coin”. Also, the code suggests that it would be backed by the U.S. dollar. The company believes that for it to be usable, it will need to support payments at scale and have sufficient security.
Well, PayPal is not the first to explore launching its own coin and likely will not be the last. Previously, Meta (NASDAQ: FB) also has been helping develop a stablecoin called Diem. So, being at the forefront of what could possibly be the future of financial transactions would be huge for the company. After all, people are warming up to the idea of cryptocurrency and this may validate the company’s push into the crypto space. With that said, would you consider PYPL stock a top fintech stock to watch?
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Visa
Visa is a payments technology company that needs no introduction. In detail, the company provides digital payments across more than 200 countries and territories. Thus, it connects consumers, merchants, businesses, and government entities to electronic payments. Some of its notable products would include Visa-branded credit, debit, and prepaid cards.
Last month, Visa announced the completion of its acquisition of Currencycloud. The company is a global platform that enables banks and fintechs to provide innovative foreign exchange solutions for cross-border payments. Therefore, the move would empower the company to provide greater transparency, flexibility, and control for consumers and businesses when making international payments.
Besides that, the company also unveiled its “Meet Visa” brand campaign in Hong Kong last month. It highlights the diverse capabilities of its network and commitment to enabling global economic inclusion. Given these exciting developments, would you consider investing in V stock right now?
Mastercard
Another top fintech name to know is Mastercard. Much like Visa, the company is a payment technology company that connects consumers, merchants, and businesses across the world through electronic payments. So, its users can make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro, and Cirrus.
In December, Mastercard and McDonald’s (NYSE: MCD) announced an agreement for Mastercard to acquire McDonald’s personalized platform and decision engine company, Dynamic Yield. The decision engine company will deliver individualized product recommendations, offers, and content based on a range of factors. In fact, it already supports over 400 brands across retail, financial services, travel, and many other industries.
Therefore, the acquisition will boost Mastercard’s existing suite of services that help brands deliver more effective and trusted customer experiences across channels. Investors should also note that Lisa Ellis, a senior analyst from MoffettNathanson, believes that the company’s stock still has upside in 2022. She believes that there will be more leisure spending and this will directly link to the company’s performance as a whole. With that in mind, would you buy into the prospects of MA stock right now?
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nCino
Last but not least, we will be looking at the cloud-based software provider for financial institutions, nCino. Put simply, the company enhances banks and credit unions with the technology to enhance visibility into their operations while allowing them to operate digitally. Its nCino Bank Operating System digitizes, automates, and streamlines complex processes and workflow.
Last month, regional bank KeyBank announced that it will be working with nCino to continue its journey in creating a seamless client experience. So, KeyBank Business Banking relationship managers will now be able to see a client’s banking information through a streamlined platform. This allows them to meet client needs and address questions faster than ever in an end-to-end process.
Another regional bank, Armstrong Bank, also announced a partnership with nCino around the same time. In detail, the bank will be deploying nCino Bank Operating System across multiple lines of business. This partnership will improve customer experience as bankers can serve customers in a more personalized manner. With these new clients, would you consider adding NCNO stock to your watchlist?
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