337. After Dark: FINinTheSun

Jul 8, 2019

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We hope all of you who could make it enjoyed some #FINInTheSun as much as we all did!

For episode 8 of After Dark some of London's finances' finest visited our home turf in Devonshire Square for our fintech street party. The show was buzzing after selling out in just 24 hours, with all of the guests who could get their hands on it, rocking our 'Swag to end all Swag!'

For this After Dark show, Simon, Leda and Jason were joined by some great guests:

Lianna Brinded - Head of Yahoo Finance UK
Luke Griffiths - Head of UK at Klarna
Sophie Guibaud - MD Europe at Fidor

We kick off the show by taking a look at an article from The Times stating that big banks have been accused of giving fintech start-ups a raw deal! This comes about after the takeover talks of two start-ups collapsed, forcing one to shut down. Additionally, Senior fintech executives have complained that large financial institutions want to take information from them without offering adequate capital or other benefits in return. In reaction to this article Leda explains that after several years of sounding like a broken record, there's no pretence of hiding the fact that big banks have been trying to learn from new start-ups, and that she's still surprised that journalists are surprised by this. (3:11)

Next up, we talk about UK fintech Jaja's acquisition of the Bank of Ireland’s UK credit card business for £530M! Jaja Card is a digital credit card managed entirely through the Jaja mobile app, designed to make credit simpler, fairer and easier to manage. The acquisition “forms part of Jaja’s strategy to scale its UK credit card business by working in partnership with other financial institutions and consumer brands.” Luke goes on to explain that this industry is ripe for disruption and that there's been very little innovation at all in credit cards, especially the post-purchase experience. (10:09)