Jan 10 2024 56 mins 7
Alex and Jason are back at it again for the first time this year, and can we just say that it’s way too early for fintech to be doing so many crazy things already?
On the bright side, the UK is cracking down to improve authorized push payments fraud. So, there’s that…
And then there’s Revolut, who’s yet again floating stories in the media about getting their banking license. Are they just the little fintech company that keeps crying, “Bank,” or will they become a real bank someday? Alex and Jason try to unravel Revolut’s constant state of quantum uncertainty.
Also, in “we never saw this twist coming” news, Jason signed up for Tomo Boost, and… he’s currently waiting to see if his promises credit line ever shows up. He and Alex discuss the morality (and legality) of the sketchy credit-building product.
Later, Jason reports from BaaS Island where Mercury and Synapse are fighting over who gets to hold the conch shell, and it looks like neither company is coming out of the intense legal battle looking good.
00:00:03 - Walmart Boys vs. Target Guys
00:04:06 - UK Regulator Enhances Protections Against Payment Fraud
00:19:56 - Revolut's Profitability and Rapid Growth
00:26:50 - Scaling Across Jurisdictions: Banking Efficiency
00:32:13 - Unlocking Tax-Advantaged Bank Accounts
00:40:47 - Tomo Boost
00:49:13 - Tales from BaaS Land
00:52:38 - Can’t Let It Go
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