Michael Spelfogel’s Post

Kiwibank on the hook for $30 million in Laybuy collapse. "Laybuy's listing on the junior Catalist exchange says it has two capital facilities: one from Kiwibank at $30 million, maturing this month, and a second one from Britain's Partners for growth at £20 million (NZ$38.1 million). It is not known how much these facilities are drawn." Interest.co.nz reports "Deloitte New Zealand's David Webb and Robert Campbell have been appointed receivers and managers of Laybuy Group and Laybuy Holdings, whereas Glen Kanevsky and Jason Tracy of Deloitte Australia have been appointed for Laybuy Australia Pty Ltd." Laybuy didnt even make it to regulation and it collapsed. Apple announced today its exit from BNPL barely 6 months after launch. I expect the prayer group on HotCopper forums to see all of this as a huge opportunity for Zip and Afterpay however the reality is that no one has an appetite for sub prime customers financing a pair of shoes. #buynowpaylater #payment

📌 `How does Klarna compete with Robinhood?` prompt 😉 Lets make a list of unbelievable or unpredictable moves that pre-IPO Fintechs are making. Starting with Klarna! The Business Insider reports ` Klarna, the buy-now, pay-later firm, is looking to make a Robinhood-like product for trading stocks, an internal job ad shows`. "𝐎𝐮𝐫 𝐦𝐢𝐬𝐬𝐢𝐨𝐧 𝐢𝐬 𝐭𝐨 𝐨𝐛𝐥𝐢𝐭𝐞𝐫𝐚𝐭𝐞 𝐭𝐡𝐞 𝐛𝐚𝐫𝐫𝐢𝐞𝐫𝐬 𝐭𝐨 𝐜𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐢𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐚𝐧𝐝 𝐞𝐦𝐩𝐨𝐰𝐞𝐫 𝐞𝐯𝐞𝐫𝐲 𝐊𝐥𝐚𝐫𝐧𝐚 𝐮𝐬𝐞𝐫 𝐭𝐨 𝐛𝐮𝐢𝐥𝐝 𝐭𝐡𝐞𝐢𝐫 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐟𝐮𝐭𝐮𝐫𝐞 𝐢𝐧 𝐚 𝐬𝐢𝐧𝐠𝐥𝐞 𝐩𝐥𝐚𝐜𝐞 - 𝐭𝐡𝐞 𝐊𝐥𝐚𝐫𝐧𝐚 𝐀𝐩𝐩," 𝐭𝐡𝐞 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐦𝐞𝐬𝐬𝐚𝐠𝐞 𝐬𝐚𝐢𝐝. "𝐓𝐡𝐢𝐧𝐤 𝐓𝐫𝐚𝐝𝐞 𝐑𝐞𝐩𝐮𝐛𝐥𝐢𝐜, 𝐑𝐨𝐛𝐢𝐧𝐡𝐨𝐨𝐝, 𝐍𝟐𝟔… 𝐛𝐮𝐭 𝐰𝐢𝐭𝐡 𝐚 𝐊𝐥𝐚𝐫𝐧𝐚-𝐬𝐢𝐳𝐞 𝐮𝐩𝐠𝐫𝐚𝐝𝐞." While Robinhood is rebranding to look and feel like Interactive Brokers and appeal to pro traders - see comments for the rebrand video link. Help me add to this list. #fintech #superapps #investing #efiinsights

For former PayPal Co-founder and CTO Max Levchin, building in the payments space is nothing new. What is new is the continued pace of fintech innovation since he co-founded Affirm in 2012. 💡 Notable for: Providing a flexible and transparent way for consumers to pay over time without charging late fees Partners since: Dec. 2017 when we led Affirm’s Series E. (After Hans Tung first met Max in 2009, the pair kept in touch. Hans, who always thought Max should do a fintech startup one day, saw potential in embedding consumer lending at checkout to catalyze e-commerce purchases. Thanks to a tip from Brian Singerman from Founders Fund, Hans re-engaged with Max—and the rest is history. Today, Affirm has processed more than 17 million purchases using its Buy Now, Pay Later model.) June 2019: Max joins this Founder Real Talk podcast with Glenn Solomon and Hans to explain how chasing HVF—hard, valuable, and fun—led him to start Affirm, which doesn’t penalize shoppers “for being a day late or a dollar short.” https://lnkd.in/gRbTyt3e 🔔 IPO: June 2021 (NASDAQ: AFRM) #BeNotable #Notable #NotableFounders

Catch up on this week's Cross River IQ newsletter. Here are the highlights: ⤵⤵⤵ ➡ Vehicle Sales Slow On High Prices, Financing Costs ➡ Visa & Mastercard Make Acquisitions; Rising Rates Of “Friendly Fraud” ➡ Klarna Expands Distribution Through Adyen, Affirm Mulls Rate Cut Response ➡ Tech-Focused Credit Unions To Merge ➡ JPMorgan Chase To Open Nearly 100 New Branches Link to this week's edition in comments: ⤵⤵⤵   #consumerlending #fintech #baas

This year's industry hot topic continues to be the implications of credit card late fee regulation on issuers. Had a great conversation with The Financial Brand about some of my predictions and observations, including: 👉🏼 The behavioral science evolution of value proposition and pricing strategies, from punitive-based fees to benefits-based monthly subscriptions 👉🏼 The importance of customer fidelity and considering LTV in considering how to respond to recent regulation 👉🏼 Brands that have been early adopters of this shift, from Dave, Acorns, and TD to this year Klarna and Robinhood What are your predictions? Article link in comments. Mintel Comperemedia #CreditCards #CardLateFees #CFPB #TheFinancialBrand

Wall Street Analysts Warm Up to Fintech Stock: Should You Invest in Affirm? Wall Street analysts are warming up to Affirm, a fintech stock that operates a platform for digital and mobile-first commerce. With a market cap of $14.5 billion, Affirm offers point-of-sale payment solutions, merchant commerce solutions, and a consumer-focused application. What's behind the analysts' interest in Affirm? The company's payments network and partnerships with an originating bank allow for seamless transactions. Should you invest in Affirm? Consider the pros and cons before making a decision. Learn more about Affirm and its potential as a fintech stock at Purple Cow Services: www.purplecowservices.com #Fintech #Affirm #Investing #WallStreet #ECommerce #PurpleCowServices #MUB #PCIS #PurpleCow #FinancialNews #StockMarket #DigitalCommerce #MobilePayments #FinancialTechnology

The latest news highlights sustained growth in the fintech sector 📈 Recently, fintech companies like PayPal and Block 🚀 have seen significant stock increases before closing, with Stripe reporting a 25% volume increase last year 📊. This transaction margin growth reflects not just the individual success of these companies but the sector's overall expansion. Ignoring financial technology opportunities means missing out on a significant chance 💼. #Fintech #Innovation #Growth #FinancialTechnology #TheNetStreet #JorgeBlasco

🌟 Walmart's venture into credit cards with Capital One in 2018 promised innovation but hit bumps along the way. After ending their exclusive deal due to customer service issues, Walmart now eyes new partners like Synchrony Bank, Barclays, and Coastal Community Bank to revamp its offerings. Synchrony Bank, fresh off acquiring Ally Lending, leads the retail credit card space. Barclays, known for consumer-focused initiatives like the Xbox Mastercard, and Coastal Community Bank's fintech prowess also stand out. Meanwhile, Green Dot Corp. emerges as a undercover company with its vast retail network and new consumer-focused products, challenging Capital One's dominance. Walmart's shift underscores the evolving landscape of retail banking, setting the stage for transformative partnerships in the financial sector. #Walmart #CapitalOne #RetailBanking #Fintech #Innovation

Newsletter Topics. Working on the May Newsletter and want some feedback. Which topics would you like me to cover? 1. Fintech Disruption - Recap on Block SoFi and Chime 2. Visa/MC Earnings and Trends 3. Big bank earnings and Payment Trends 4. Walmart moving BNPL to their in-house financial arm 5. Marcus by Goldman Sachs selling off investment accounts 6. Klarna's new Credit Card 7. Visa/Mastercard Settlement Updates 8. Capital One / Discover Financial Services Merger Update Or is there something else you want me to cover? Let me know in the comments what you think we should feature this month.

What does it take to run a #cloudnative bank? 🏦 In the newest Giant Conversations episode, Miles Bryant from Monzo Bank pulls back the curtain on their impressive Kubernetes-powered infrastructure. Highlights of this chat with Oliver Thylmann and Joe Salisbury include: 💸 Monzo’s journey from early K8s adopter to running 2,800+ microservices 💸 The importance of building a platform that abstracts complexity 💸 Open source tools at the heart of Monzo’s stack Whether you’re in #fintech or just curious about the cutting edge of #cloudnative, give this episode a listen!