Lending & Credit
The Great Fintech Breakup: Why Affirm, Upstart, and Payoneer Are Finally Ditching Their Bank Partners
For two decades, fintechs thrived by outsourcing banking to partners. Now Affirm, Upstart, and Payoneer are applying for their own charters. The shift signals a fundamental reshuffling of fintech economics—and a reckoning with who controls the customer relationship.