Investor Pressure Forces Fintechs to Rethink Inclusion Goals

Financial inclusion, especially providing services to those people and small businesses that traditionally avoided full-service banking, has long been a calling card for financial technology firms.

“We help drive innovation, inclusion, and access across the industry,” boasted Chime, which since its launch in 2013 has emerged as one of the largest so-called neo-banks.

Interest rates near zero and an untapped market of millions of adults helped the industry flourish, from financial services firms to cryptocurrency startups.

But inflation and rate hikes have slowed new funding to a trickle. As investors’ push for profits grows, so too does concern that fintechs ...