Fintech One•On•One #374: Matt Oppenheimer of Remitly
Jul 8, 2022
30:42
Tens of millions of people are living and working in a foreign country and sending money to their families back home. They want a remittance service that is convenient, inexpensive and trustworthy. And while the remittance business has been around for more than a century, there are better options today than ever before.
My next guest on the Fintech One-on-One Podcast is Matt Oppenheimer, the CEO and founder of Remitly. He started the company back in 2011, just as smartphones were getting going, and has built it into one of the world leaders in the space operating in some 135 countries today and sending billions of dollars around the world each year.
In this podcast you will learn:
- How Matt's time in Kenya gave him the idea to start Remitly.
- Why the timing for starting Remitly was one of the keys to his success.
- How he describes Remitly today.
- Where they operate and the main remittance corridors.
- How the remittance process works exactly.
- The prevalence of cash versus electronic transfers.
- Why the complexity is in doing localization at scale.
- What is involved in expanding to a new geography.
- A profile of the typical customer using Remitly.
- What banks are missing by not serving the immigrant population.
- Matt's views on crypto and its role in the remittance space.
- What he is working on today that is most interesting.
- What he finds most exciting in payments and banking today.
- His vision for remittances and where we will be by the of the decade.
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