CEOs of Mercury Bank and Lendflow explain how to embed FinTech into your startup.
I’m on the record as thinking that, at some point, every SaaS company will become a FinTech.
The choice for many seems simple: increased LTV, lower CAC, and reduced friction for and with your customers.
But while new tools are making it easier to adopt FinTech, this is not a ‘set it and forget it’ process.
“Shopify Pay still uses Stripe and they have some crazy scale.”
At Traction Conference in August, I spoke with Immad Akhund (CEO of Mercury Bank) and Jon Fry (CEO of Lendflow) to discuss how startups can embed FinTech into their products, increase revenue, and avoid all the hidden icebergs.
What kind of icebergs? Well, while embedded FinTech has made the product stack relatively simple, startups should still be aware of the regulatory, compliance, and customer service considerations that come with them. As Fry notes in this episode, the risk of fraud is greater than default for startups looking to embed lending into their offerings.
It’s the kind of tactical conversation that typifies Traction, simply one of the best tech conferences in Canada. Haven’t attended before? Don’t worry, BetaKit has you covered.
Let’s dig in.
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The BetaKit Podcast is hosted by Douglas Soltys & Rob Kenedi. Edited by Kattie Laur. Sponsored by Thinksound.