EP 263: Arash Asady, Bits of Stock

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Finovate Podcast

100 episodes

4 days ago

Finovate showcases cutting-edge banking and financial technology through a global conference series featuring short-form demos and insightful expert takeaways. The Finovate Podcast, hosted by Greg Palmer, carries those conversations and ideas forward, with a concise, interview-based format based on Finovate’s signature 7-minute demos. Guests include leading fintech innovators, bankers, analysts, and more sharing their thoughts and predictions on the future of financial technology.

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EP 263: Arash Asady, Bits of Stock

Finovate Podcast

16 minutes 52 seconds

4 months ago

EP 263: Arash Asady, Bits of Stock

Bringing a rewarding investment experience into FI’s with FinovateSpring Best of Show winner Bits of Stock.

Detailed Summary:

In this episode of the Finovate Podcast, host Greg interviews Arash Asady, CEO and co-founder of Bits of Stock, a Best of Show winner at FinovateSpring 2025. Arash introduces Bits of Stock as an embedded digital wealth and financial benefits platform that empowers financial institutions to bundle banking with fractional stock and crypto investing. The company helps banks boost deposits and card engagement through stocks as rewards, roundups, and investments. Arash explains that financial institutions face competitive threats from fintechs like Robinhood and Acorns, which offer comprehensive services including fractional investing that appeal to younger customers who expect all financial services within one digital experience.

The conversation highlights how Bits of Stock's stock rewards program differentiates from traditional rewards systems. Their research showed stock rewards were 34 times more effective than cashback in driving card spending, with users increasing card spend by 20% month over month. Arash emphasizes that stock rewards remove barriers to investing and help address wealth inequality, noting that currently 90% of stocks are owned by just 10% of the population. The platform offers a "free to premium" model that fits well into financial institutions' checking account strategies, allowing users to access free fractional investing with basic features and upgrade to premium tiers with additional benefits.

Looking ahead, Bits of Stock plans to expand its feature set within the free-to-premium experience, focusing particularly on partnerships with digital banking providers to bring their platform to millions of households. Arash mentions they're working to add features that will drive more fee income and revenue for financial institutions. The company is preparing for a significant Series A funding round, targeting a $20 million raise by the end of 2025.

More info:

Bits of Stock: https://www.bitsofstock.com/ ; https://www.linkedin.com/company/bitsofstock/

Brandon Min: https://www.linkedin.com/in/aasady/

Greg Palmer: https://www.linkedin.com/in/gregbpalmer/

Finovate: https://www.finovate.com; https://www.linkedin.com/company/finovate-conference-series/

FinovateSpring: https://informaconnect.com/finovatespring/

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