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Daily Tearsheet: Kirill Gertman on Conduit’s mission, challenger bank Zolve, and how to stop using the term ‘financial inclusion’

  • ‘If you're a founder and not talking to your customers, I’m sorry but you're doing it wrong,’ says Conduit's Kirill Gertman.
  • How far can the world of niche challenger banks go?
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Daily Tearsheet: Kirill Gertman on Conduit’s mission, challenger bank Zolve, and how to stop using the term ‘financial inclusion’

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The Acquire Podcast Ep. 7: ‘Founders not meeting with their customers are doing it wrong’: Conduit’s Kirill Gertman

In episode 7 of Acquire, Tearsheet’s Marketing Podcast, host Rebecca Alma Cohen, Head of Tearsheet Studios, speaks with Kirill Gertman, co-founder and CEO of Conduit – a B2B fintech providing infrastructure for DeFi payments.

Kirill talks about Conduit’s mission of building one API for DeFi, going to market in unlikely geographies, and crafting a reliable, trustworthy brand that stands out in the sci-fi aesthetic of the crypto world, and much more.

Read/listen more

How we can stop using the term ‘financial inclusion’

By Sarah Davies, Chief Data & Analytics Officer, Nova Credit 

When we think about financial inclusion, we often think of consumers that fall outside the realm of mainstream credit, who are considered higher risk from a mainstream perspective and far from creditworthy.

The reality, though, is that these consumers simply don’t have enough data on financial behaviors which the consumer credit risk industry deemed important in the ’90s to determine creditworthiness. And because the industry automatically considers them higher-risk, these consumers aren’t eligible for fair access to financial products.

But the truth is that consumers produce financial data all the time – just not in the original and outdated qualifiers for creditworthiness and the ability to pay back debts.

This is where the term ‘financial inclusion’ has come in.

Read more (sponsored by Nova Credit)

The latest briefing

Banking Briefing: A look into new challenger bank Zolve and a few thoughts on niche banking apps

Zolve, founded in 2021, is a challenger bank focused on serving US migrants from India. Currently, the banking app offers its users account options, credit cards, crypto trading, and student loans.

According to the founder and CEO of Zolve, Raghunandan G — the company has raised $40 million in its Series A funding round, managed to get 70,000 people on its waiting list, and rolled out its credit card to 2,000 users.

Looking ahead, Raghunandan plans to expand Zolve’s offerings to users from India migrating to other countries as well, including the UK, Australia, and Canada.

Indeed, Zolve is still young, but its growth and approach bring to mind a question: how niche can a niche banking app get?

Read more (exclusive to Outlier members)

Just look at the charts

1. Binance spot market volumes reached $490 billion in March

SourceCoinDesk

2. Prices of homes in BTC compared to prices of homes in USD

SourceBlockworks

Today’s stories

Dogecoin’s price and Musk’s imminent takeover of Twitter
Dogecoin (DOGE) surged by 9% yesterday following reports of Elon Musk purchasing the entirety of Twitter at $54.20 a share (CoinDesk)

Introducing the BNPL bureau from Experian
Experian is to debut a buy now, pay later credit bureau this spring, providing lenders with real-time data on customer spending and loan repayments without impacting credit scores (Finextra)

PayPal’s blockchain VP on the future of crypto in payments
Blockchains offer unique advantages, but these must be combined with a user experience that feels similar to the one consumers know today, shares PayPal’s senior vice president Jose Fernandez da Ponte (CoinDesk)

Earthbank offers the world’s first audited and verified carbon offsets
Earthbank founder Tom Duncan set out to find a private-sector solution to incentivize regenerative land management practices that would be cost-effective, long-lasting, and mass-scalable (Forbes)

Football League launches new NFT collection on Polygon
The National Football League is once again dabbling with non-fungible tokens, launching a series of card-themed collectibles tied to its upcoming player draft (CoinDesk)

Small business lending’s role in fostering local economic growth
Recently, nonbank lenders have gained market share in the SMB market in the United States, especially relative to community banks (Federal Reserve Bank of Philadelphia)

Sardine, Cross River partner for fraud prevention software
Cross River Bank announced a partnership with Sardine for digital wallets and neobanks, to ensure Sardine’s customers have a reliable way to gain immediate access to funds through Cross River’s infrastructure platform (Business Wire)

Stay ahead of the game with Outlier — Tearsheet’s exclusive members-only content program and join the leading financial services and fintech innovators reading us every day.

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