Santander Brasil announced a new Corporate Venture Capital fund focused on Fintech led by Nathalia Britto.Scalable, a B2B Brazilian credit for SaaS Cos startup, raised $5m in debt from SRM ventures.Revolut 's valuation was nearly halved (cut by 46%) by the Investment Bank Schroders, from $33 billion to $17.7 billion.Part of the funding will be used to hire new talent, including me, who will be joining as a Product Director for Brazil, starting next week. Clara, a Mexico-based spend management company, secured $60 million in equity in a round led by GGV Capital.Let's jump into this past week's news! 👇🏼 🗞Top LatAm Fintech Bites of the week It has deep pockets that allow for deep patience, something that many other organizations lack. Long-term, Apple can definitely be a strong competitor. Should banks worry? Short-term, not so much. Apple's expanded financial services portfolio not only solves these customer pain points but allows Apple to cross-sell other products to their customers, expanding their revenue. Daily Cash can also go into the Apple Cash P2P product, adding another hook for the ecosystem".Īpple has their customers love, trust, and, as I mentioned in my previous newsletter, people want to centralize their finances. Having the card means you may come to use it, especially given some of the reward levels Apple has offered, which feed back to Daily Cash and then back into Savings. "To have access to Apple high-yield savings, you have to have an Apple Card, which also means that you have to have an iPhone. The savings account is just another stepping stone into generating a “flywheel effect” of revenue, according to payments consultant Richard Crone. But I don't believe Apple wants to become a bank, they rather want to build flywheels and expand their ecosystem. Offer way higher yields for your savings account than your competitors to drive their customers' money into Apple from other financial institutions, and start to manage the whole financial lifecycleĬan they win the battle against traditional banks? It's a long-time horizon game, and they definitely have the capabilities.Evolve your financial portfolio with buy now pay later, tap-to-pay, peer-to-peer lending, and others.Evolve the product and add features customers want, such as Apple Pay and wallet app integration, real-time balances, on-device account management, cash back, and secure card/CVV numbers.Launch a Credit Card with Rewards to drive people to use Apple as a Primary Card, include cashback and rewards to drive Share of Wallet.
Apple Apps' UX/UIĪpple has a long-term horizon thinking, and the way they are sequencing their financial services products is defining the flywheels they are trying to generate:
#Applewin saving games full#
Apple doesn't want to build a bank, but drive full ecosystem. It is not the first time that a Big Tech Company tries to dominate the financial services ecosystem, but Apple has been doing a great job at it. "Innovation happens when people are given the freedom to ask questions and the resources and power to find answers" - Richard Branson Can Apple Win the Banking Game?Īpple recently announced a high-yields savings account in the US, with their partner Goldman Sachs.
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