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Fintech Takes
S8 E9: Fintech Recap: Klarna’s “Balance” vs. Banking, Affirm's Resilience, and Niche Neobanks Refuse to Die
Sep 4, 2024
Jason Mikula, a fintech expert, joins to discuss emerging trends in the industry. They dive into Klarna’s new ‘Balance’ feature, revealing it as more of a wallet than true banking in the U.S. Affirm's resilience is highlighted as they navigate the BNPL landscape with steady growth. The conversation also touches on niche neobanks like Commune, focusing on their unique offerings for underserved immigrant populations. Finally, Apple’s decision to give third-party access to NFC technology has significant implications for the mobile payment ecosystem.
57:05
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Quick takeaways
- Klarna's new 'Balance' feature in the U.S. serves primarily as a marketing tactic rather than a genuine banking service.
- Affirm's recent financial performance demonstrates resilience with growth driven by strategic partnerships and disciplined risk management in BNPL.
Deep dives
Family Legacy in FinTech
FinTech appears to run in the family for one of the speakers, who began his career at a company his father helped build in Bozeman, Montana. Both have worked together in different capacities over a significant period, with the speaker crediting his father's expertise in credit decisioning as a major influence on his own career path. This family connection to the industry highlights the importance of mentorship and shared knowledge within the FinTech world. The speaker's deep understanding of the field is further enriched by this lineage, underscoring how personal experiences can shape professional journeys.
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