S8 E1: Fintech Recap: Evolve’s Massive Data Breach, Apple’s Bizarre Announcement, and Klarna Replaces Its Staff with AI

Alex Johnson
Alex Johnson
July 10, 2024

He’s been wise. He’s been powerful. But guess what? It’s the first episode we can officially call Jason Mikula an author! Jason chats about his new book, “Banking as a Service: Opportunities, Challenges, and Risks of New Banking Business Models” and reveals what you can expect from his debut book, which is currently available for pre-order. If you haven’t ordered your copy yet, don’t forget to order it here using the promo code “BaaSIsland” for 20% off!

And speaking of BaaS Island, beware of where you set sail because the seas are unsafe with pirates roaming the dark waters. With a massive cyber security breach, a brand new consent order, and a middleware platform partner at the bottom of the ocean, is Evolve trying to win an award for the worst bank ever? 

The guys also discuss the death of Apple Pay Later, and Apple’s announcement that both issuers and Affirm can compete for Buy Now, Pay Later in Apple Pay. What caused the sudden shift in strategy for Apple? Alex and Jason explain how regulatory risk and heightened scrutiny for lending products might have been the catalyst for change. Is Apple Card next on the hit list?

And later, they discuss what the overturning of the Chevron Doctrine means for regulators. Plus, Alex just can’t let it go that Klarna intends to replace its customer service staff with AI. As if we needed one more automated customer service line that doesn’t answer any of our questions…


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Follow Jason:

Newsletter: https://fintechbusinessweekly.substack.com/

LinkedIn: https://www.linkedin.com/in/jasonmikula/

Buy His Book (use promo code BaaSIsland for 20% off) here


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Alex Johnson
Alex Johnson