Western Union's agent network and "trust-brand" are strategic moats for migrant workers that (I believe) Wise and Revolute will not bother penetrating with high CAC/LTV. Dash has impressive numbers but probably very low activation rates (I haven't used mine since early 2019 when Dash had the best SGD:THB on Thai QR; best edge use case for the most discerning fintech geek at that time). I have had really good discussions with Singapore peers on how to "disrupt" this space...the business plan is shelved for the time being and I really hope time is on my side to take a punt at this in the future.
One call out on Finix is that they highlighted they have already built cloud end points for acquirer processing. This is a game changer since being able to vertically integrate removes friction and cost. Some fintech startups are doing this at series A-C stages now...impressive and shows how quickly things are evolving. The next batch of cloud native infra-platform-fintechs will be able to offer attractive price points because they have a significantly lower cost base.
Western Union's agent network and "trust-brand" are strategic moats for migrant workers that (I believe) Wise and Revolute will not bother penetrating with high CAC/LTV. Dash has impressive numbers but probably very low activation rates (I haven't used mine since early 2019 when Dash had the best SGD:THB on Thai QR; best edge use case for the most discerning fintech geek at that time). I have had really good discussions with Singapore peers on how to "disrupt" this space...the business plan is shelved for the time being and I really hope time is on my side to take a punt at this in the future.
One call out on Finix is that they highlighted they have already built cloud end points for acquirer processing. This is a game changer since being able to vertically integrate removes friction and cost. Some fintech startups are doing this at series A-C stages now...impressive and shows how quickly things are evolving. The next batch of cloud native infra-platform-fintechs will be able to offer attractive price points because they have a significantly lower cost base.