FinTech Showcase 2024

FinTech Showcase 2024

The 2024 FinTech Program unveiled its latest innovations, showcasing advancements in financial education, AI-driven solutions, and visual financial mapping. Attendees connected with FinTech Corporate Partners like Citizen, MassMutual, and Digital Federal Credit Union gaining valuable insights from industry leaders in the financial, insurance, and banking sectors. 


Innovators had the opportunity to network with fellow entrepreneurs, investors, mentors, and industry experts who are shaping the future of fintech. The event culminated in an awards ceremony, celebrating the achievements of the 2024 FinTech Cohort. Outstanding innovation, resilience, and growth were recognized and applauded. 

The Startups Showcased

Cohort Demographics at a Glance

FinTech 2024 Stats

Key Takeaways in FinTech Innovation

What is the FinTech innovation community  learning from the technologies of the showcase?


Generative AI (38% of cohort): AI technologies are becoming central to fintech operations, enhancing capabilities in fraud detection, credit scoring, and personalized financial services. Generative AI, in particular, is being used to automate trading, improve customer service through advanced chatbots, and enhance regulatory compliance.

Embedded Finance: This trend involves integrating financial services into non-financial platforms, allowing businesses to offer banking-like services such as lending and payment processing directly within their ecosystems. This integration is expected to grow significantly, improving access to financial services for underserved populations.

Sustainable Finance (Citizens): There is growing interest in financing projects with positive environmental and social impacts. This trend is driven by both regulatory pressures and consumer demand for responsible investing options. The practice of making investment decisions that consider not only financial returns but also the environmental and social impacts of those investments. This approach aims to support projects and companies that contribute to sustainable development, addressing issues like climate change, social inequality, and environmental degradation. 


Intersection of FinTech & Human Behavior [Health & Wealth] (MassMutual) (1 startup in cohort): These trends illustrate how fintech is not only transforming financial services but also adapting to and influencing consumer behaviors. As fintech continues to evolve, understanding these behavioral trends will be crucial for companies looking to meet consumer expectations and stay competitive in the market. 


    • Increased Digital Financial Management: With the proliferation of fintech apps, consumers are increasingly managing their finances digitally. These apps offer convenient solutions for budgeting, investing, and saving, which align with the growing preference for mobile and online banking over traditional methods 
    • Personalization of Financial Services & 360-degree view of Customer Needs (38% of cohort): Consumers now expect highly personalized financial services tailored to their unique needs. Fintech companies leverage big data and AI to analyze user behavior and provide customized financial advice, products, and services. 
    • Behavioral Nudges and Financial Well-being: Fintech apps are increasingly incorporating behavioral economics principles to help users make better financial decisions. Features such as automated savings programs, spending alerts, and gamified financial goals encourage users to adopt healthier financial habits. These tools are designed to nudge consumers towards saving more, reducing debt, and investing wisely 
    • Enhanced Customer Engagement through Technology: Technologies such as AI-powered chatbots and voice assistants are transforming customer service in the fintech sector. These tools provide immediate, 24/7 support, improving customer satisfaction and engagement. They also enable more efficient handling of routine inquiries, allowing human agents to focus on more complex issues 


Real-Time Payments: These systems enable instant transfers and are expected to become more widespread, enhancing both consumer and business financial operations. Federal Reserve considering debit interchange reduction. Under regulatory pressure, Zelle preemptively reimbursed consumers for fraudulent transactions. 

The Big Picture

FinTech is not just in insurance and banking. While fintech is widely recognized for its impact on banking and insurance, its applications extend far beyond these sectors, influencing a diverse array of industries and enhancing financial processes across the board. 


For example, we can look at the emergence of PropTech, the use of technology and innovation within the real estate sector to enhance the way people buy, sell, rent, manage, and design properties. Proptech encompasses a wide range of applications and technologies aimed at improving the efficiency, transparency, and user experience of real estate transactions and management. Components that FinTech intersects across.


Regulatory Navigation and Compliance: As fintech becomes more regulated, accelerators will provide extensive resources for navigating regulatory landscapes. This could include legal advice, compliance tools, and connections with regulatory bodies to help startups stay ahead of legal requirements and avoid potential pitfalls


MassChallenge FinTech program partners play a crucial role by providing challenge statements that guide our focus on key innovation gaps and the problems we aim to solve. These challenge statements ensure that we align our efforts with the latest fintech trends and address the most pressing issues. Consequently, we attract startups that our partners are eager to collaborate with, both during the program and beyond.


MassChallenge continuing to focus on connectivity with the ongoing commitment to in-person programming, fostering deeper relationships and collaboration.

Future FinTech founders joining our cohort can look forward to a highly personalized experience. Upon acceptance, our Program team will engage with each startup to understand their unique learning needs and design a tailored program that addresses their specific goals. As a result of this year’s engagement with founders, we’ll continue to hone in on Emerging trends and critical areas of focus, including Fundraising & Raising Capital, General Pilots/POCs, Managing Corporate Partnerships, Market Fit, Marketing Operations, and Sales Strategy (B2B2C). These topics will be central to shaping the next wave of FinTech innovation and success.


Founder Spotlight

MassChallenge FinTech goes beyond traditional mentorship, offering strategic advising from our network of corporate partners who bring deep industry knowledge and insights. Coupled with a curriculum specifically designed to prepare startup founders for scaling and engaging with corporate partners, we provide targeted guidance on areas such as operational efficiency, strategic partnerships, compliance, and market expansion.


When you think about the problem you are trying to solve, what led you to this “challenge/problem” to solve? 

Zack Khan, Co-Founder of Feathery (partnered with MassMutual)

Feathery is a no-code customer workflow builder for financial services. My cofounder Peter and I built onboarding forms at companies like Robinhood and Nextdoor where we saw the challenge firsthand of collecting and processing customer data. While building Feathery, we partnered with great companies in financial services to learn about the unique data and integration challenges they needed Feathery to solve, such as analyzing unstructured insurance policy documents, emails, CSVs, KYC integrations, and more.  


Why MassChallenge? What were you hoping to gain, access, or learn? 

With MassChallenge, we were hoping to connect with partners to help us refine our product’s use cases within financial services. We were very fortunate to partner with MassMutual and we worked with our MM champions to define two key use cases for automations in insurance quoting and claims. The learnings from MassChallenge have made a huge impact on our positioning within the insurance market and we’ve been able to apply those learnings to additional insurance customers. We also gained a ton from the amazingly helpful mentors who gave feedback on how Feathery can apply to problems in other sub verticals like wealth management as well, helping us hone our positioning. 


If you were to paint a picture of the next five years for your startup what should we be on the lookout for? 

Feathery’s vision is to help companies collect and process customer data in any format, extracting data from PDFs, digital forms, emails and more. We’re tackling the insurance industry as our initial key vertical, and in the next 5 years, our vision is for Feathery to solve the core communication challenge between insurance brokers and carriers. With Feathery, brokers can send client data for quoting and claims in any format, and carriers can process that data to return quotes/resolve claims much faster. Over time, we’ll expand deeper into other verticals we serve as well, such as wealth management, lending, and banking. 


Lastly, what feels like an exciting opportunity in the fintech space and why? 

Helping financial services customers build customer experiences and integrations faster. Many systems don’t talk to each other in financial services. Open APIs, RPA, and AI tooling can help bridge that gap to help build integrations that previously weren’t possible/scalable. 


Partner Spotlight

Niko Casagrande, Vice President, Digital Innovation & Strategy at Citizens

“MassChallenge brings Citizens to the cutting edge of FinTech developments and facilitates the mutual value exchange that is the hallmark of great corporate-startup partnerships.

Citizens is proud to support the FinTech ecosystem and is privileged to be a founding corporate partner of MassChallenge FinTech, enabling the bank to form close relationships with forward-thinking FinTech founders and startups who are helping banks to support their clients, investors, and communities.”


Mohammed Dastigir, Head of FinTech & HealthTech Partnerships, MassMutual

“Six years after helping launch the program as a Founding member, we continue to reap benefits by participating in the MassChallenge FinTech Program, including identifying several use cases with the cohort of startups that we matched with this year.

Looking ahead, we will continue to seek out innovative solutions that help solve real business & technology challenges. The opportunity is immense – not just for MassMutual but for the Industry as a whole and we look forward to continuing to partner with the fintech startups and building for the future.”

Want to Learn More?

Organizations interested in MassChallenge sourcing novel fintech solutions with potential to solve their innovation challenges.