Fintech Takes

S7 E11: Not Fintech Investment Advice: Frich, Constellation, daloopa and Block

Jun 20, 2024

On this podcast, they discuss Frich's wealth benchmarking app for Gen Z, Constellation's workflow improvement app, daloopa's AI for spreadsheets, and Jack Dorsey's Block. They consider if Block is still profitable with Apple Wallet's dominance and discuss the challenges of merging ecosystems like Square and Cash App.

48:35

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Frich offers a platform for Gen Z to compare spending habits and salaries anonymously, leveraging user data for financial education.

Constellation provides workflow software for regulated industries, ensuring compliance in marketing activities.

Deep dives

Fritch - Wealth Benchmarking for Generation Z

Fritch provides a unique platform for younger consumers to anonymously compare salaries, spending habits, and rent payments. Users can also submit anonymous uncomfortable questions for a chance to win rewards. This innovative approach to financial education targets under-25s by leveraging user-submitted data for monetization through community engagement and targeted ads.

Intro

2min

Fridge: Redefining Financial Education through Anonymous Comparison

6min

Navigating Regulations and Compliance in Fintech

21min

Merging Ecosystems: Lessons in Integration and Scaling in FinTech

9min

Exploration of Ideal Client Profiles, Regulatory Wishes, and a Savings Super App Idea

6min

Discussion on Reaggregating Savings Portfolios and Tech Company Features

2min

You should never take fintech investment advice from podcasters— and thankfully, Alex and Simon are definitely not giving out fintech investment advice on this week’s podcast.

Speaking of things you should never do, comparing yourself to others certainly tops that list. But what if you knew what normal spending looked like amongst your peers? That’s the philosophy that the wealth benchmarking app, Frich is banking on, and you know what? It might actually be a good thing. Targeting Gen Z, the app aims to tackle the gaps between reality and social media by shining a spotlight on how much users make and spend on things like rent, salary, and amenities.

Then, Alex and Simon discuss Constellation, the app striving to improve workflows and automate the creative process in highly regulated industries by creating assets at scale. We have to ask— did we really need this when large-scale corporations have already perfected this process using internal methods? Is it sellable to anyone in fintech or will Constellation figure out a way to go to market through banking partners instead?

And later, the guys break down how daloopa increases your spreadsheet superpowers using generative AI and debate whether or not Jack Dorsey’s Block is still a profitable model. With Apple Wallet becoming the center of gravity for all other apps, is Block’s Cash App still relevant? And why can’t the Block team get Square and Cash App to play nicely together?

Plus, Simon manifests the de novo charter into a US existence and Alex wonders whether or not there’s room for one savings app to rule them all.

Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/

And for more exclusive insider content, don’t forget to check out my YouTube page.

Follow Simon:

LinkedIn: https://www.linkedin.com/in/sytaylor/

Substack: https://sytaylor.substack.com

Follow Alex:

YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos

LinkedIn: https://www.linkedin.com/in/alexhjohnson

Twitter: https://www.twitter.com/AlexH_Johnson