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Fintech Insider Podcast by 11:FS
913. News: Affirm lands in the UK and what does Trump's election win mean for fintech?
Nov 11, 2024
Mariela Hunter, a fractional COO with deep expertise in financial services strategy, and Jason Mikula, founder of FinTech Business Weekly, dive into crucial industry developments. They discuss the impact of Donald Trump's potential election win on fintech regulation and consumer banking. The conversation touches on Affirm's expansion into the UK market, Barclays' acquisition of Tesco Bank, and Mexican fintech Klar's IPO ambitions. Additionally, they explore innovations in mobile virtual solutions and the growing BNPL landscape, highlighting opportunities and challenges ahead.
01:15:43
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Quick takeaways
- Donald Trump's election could lead to mixed outcomes for fintech, with potential deregulation promising opportunity but possible long-term instability.
- Affirm's UK launch focuses on responsible lending and transparency, targeting consumer needs amid a competitive buy now, pay later market.
Deep dives
Barclays Acquires Tesco Bank
Barclays has successfully acquired Tesco Bank for £600 million, allowing Tesco to refocus on its core retail operations. Following the acquisition, Tesco will continue to provide capital light services such as insurance and travel money, while Barclays aims to enhance its financial offerings using Tesco’s extensive customer base. The merger is expected to drive long-term revenue growth and improve customer analytics through the integration of services, combining Tesco's Clubcard loyalty benefits with Barclays' established financial resources. The deal represents a strategic move for Barclays within the competitive UK market, leveraging Tesco's customer loyalty for better cross-selling opportunities in financial services.
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