Citi says European fintech narrows gap to US rivals; Adyen top pick

In a note on European financial technology, Citigroup says it expects consumer spending to remain broadly stable, but a prolonged conflict in the Middle East carries risks

Citi says Europe is starting to close the integrated‑payments gap with the U.S., and its top stock pick Adyen ADYEN.AS is well positioned due to its data, fraud and risk tools

Revolut securing full UK banking licence and expanding its stablecoin offering increases competitive pressure on Wise’s WISEa.L fees, the broker says

It cuts Nexi NEXII.MI to "neutral", saying the Italian firm relies increasingly on partnerships to stay competitive, with near‑term growth and margin pressure limiting the stock's upside

Separately, Goldman Sachs also downgrades Nexi to "neutral", based on largely similar reasoning; it also cuts Worldline to "sell" on strong competitive pressure and cash position limiting its ability to invest

It upgrades Temenos TEMN.S to "buy" on improved demand for core banking software, which offers scope for a re-rating and M&A options

Citi says voucher firms Edenred EDEN.PA and Pluxee PLX.PA remain focused on regulatory risks, though near‑term performance is helped by gift card campaigns and measures to offset a fee cap in Italy

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