S8 E9: Fintech Recap: Klarna’s “Balance” vs. Banking, Affirm's Resilience, and Niche Neobanks Refuse to Die

In this week’s episode of Fintech Recap, Alex is joined by Jason Mikula to dive into the latest on fintech.

With BaaS Island quiet, the guys head over to BNPL for some fresh juice.

First up, Klarna’s U.S. launch and its new “Balance” feature — despite the hype, it’s not quite banking. In the U.S., “Balance” is more of a wallet within Klarna’s app, far from their European banking model. Klarna’s shooting for global banking glory, but the fine print reveals a different tale — more shopping convenience than banking breakthrough.

Next, they break down Affirm’s Q4 earnings. Looks like Affirm isn’t just riding the BNPL wave — they’re hanging ten. The big question: is success in BNPL about flashy growth or building a resilient model? The answer might surprise you.

Plus, they dig into broader fintech shifts: Comune’s standout $21.5M raise targeting underserved immigrants alongside Apple’s decision to allow third-party access to its NFC chip. Will these moves change the game or just tweak the status quo? Tune in to find out!

00:06:58 Klarna Buzz vs Klarna Reality

00:19:55 Affirm Affirms Steady, Cautious Growth

00:32:54 Niche Neobanks: The Next Big Thing, Again?

00:41:36 Apple “Kinda” Opens Up NFC

00:51:42 Can’t Let It Go

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S8 E9: Fintech Recap: Klarna’s “Balance” vs. Banking, Affirm’s Resilience, and Niche Neobanks Refuse to Die