Fintech Takes
S8 E7: Not Fintech Investment Advice: Revenir, Summer, Jeff, and Axle
Aug 21, 2024
The guests discuss groundbreaking fintech innovations, including Revenir's automation for recovering sales tax, making refunds easier for travelers. Summer talks about helping graduates manage student loans and the challenges of distribution via HR. Jeff shares insights on expanding credit access for the underbanked using non-traditional data, potentially establishing a new credit standard. Lastly, Axle highlights its AI-powered compliance solutions and the importance of educating clients about new technologies in the evolving regulatory landscape.
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Quick takeaways
- Revenir's API automates international sales tax recovery, significantly increasing refund eligibility awareness for UK travelers and enhancing satisfaction.
- Summer addresses the challenge of student loan management by providing HR-friendly solutions that combine repayment education with loan forgiveness options.
Deep dives
Automated Tax Recovery Insights
Automated tax recovery for travelers is revolutionizing the way individuals reclaim sales tax on purchases made abroad, particularly for travelers from the UK to Europe. The service, exemplified by the company Reveneer, offers an application programming interface (API) for banks and FinTech firms to seamlessly notify users of their eligibility for tax rebates. This service targets the significant number of travelers who miss out on potential tax refunds, as up to 80% of eligible items go unclaimed annually. By utilizing technology, the process allows users to receive notifications of tax refunds within 48 hours of their purchase, creating an unexpected financial benefit and enhancing customer satisfaction.
