Accelerating BNPL in Spain, with Jaime Marin Merlo (Fiizy)
How to Lend Money to Strangers
Brendan le Grange
4.9 • 43 Ratings
🗓️ 18 November 2021
⏱️ 23 minutes
🧾️ Download transcript
Summary
Is this another BNPL episode? Of course, it is.
But what can I say, the world seems to have an unquenchable thirst for the model right now 😁
Plus, this one is a little different as I’m now speaking to a BNPL provider, but rather to Jaime Marín Merlo of Fiizy, an Estonian fintech that focuses on bringing lenders and merchants into that BNPL boom.
Jaime is the director of business development for Fiizy’s Spanish ambitions, but we touch on the LATAM market too. We talk about the limits of the Spanish data environment; we talk about the new customer niches BNPL is opening up; and we talk about the win-win-win situation that can arise for lenders, consumers, and merchants alike when the model is well-implemented; but we also talk about what can go wrong if it isn't.
You can learn more about Fiizy at their website
You can contact Jaime via his LinkedIn page or by emailing him at jaime.marin.merlo@fiizy.com
You can find out more about me on my LinkedIn page, here
If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me at brendan@howtolendmoneytostrangers.show
A full written transcript with timestamps can be found on HowtoLendMoneytoStrangers.Show
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Transcript
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| 0:00.0 | we built N2N by now pay later platform with the value proposition for merchants that we optimize |
| 0:08.0 | conversion rates through a mix of lenders with different rich appetites in order to improve overall |
| 0:17.2 | and conversion rates. At the end we are in the side of the merchant. |
| 0:46.3 | Welcome back to how to lend money to strangers, the podcast about lending strategies around the world |
| 0:52.4 | and across the credit life cycle. I'm your host Brendan Lagrange and today I'm speaking to |
| 0:58.3 | Jaime Marin, Director of Business Development for BNPL Solutions at FISI, the Estonian Fintech |
| 1:05.0 | with operations in Spain, Poland, Mexico and soon to be Brazil. The on many headlines in the consumer |
| 1:12.4 | credit space these days that don't include some mention of BNPL. So we talk about its growth |
| 1:18.8 | for consumers and for merchants and we talk about how to keep that growth positive for all stakeholders |
| 1:25.6 | concerned. Jaime and I actually know each other from about 10 years ago when we both worked in the |
| 1:31.3 | same global consulting team. We met on I think it was the Sunday 19 Nottingham, it was about 10 pm |
| 1:38.0 | and I was heading home from dinner. We passed each other in the hotel lobby as he was heading out. |
| 1:43.8 | Unfortunately unlike Madrid at 10 pm on a Sunday night there aren't many open restaurants in |
| 1:49.0 | Nottingham where at least they weren't in 2010 and so I think he had to make do with a vending |
| 1:53.6 | machine dinner that night. Fortunately things are going better for him these days so let's catch up. |
| 1:58.4 | Perhaps before we dive too deep Jaime would you like to introduce yourself and talk a little bit |
| 2:09.4 | about FISI and the work you're doing? Well my background has been always in the banking industry. I've |
| 2:17.6 | been working from this management to heading business lines and also consulting lately. I've been |
| 2:26.4 | also engaged in the retail financing industry before joining FISI where I'm directing the business |
| 2:37.2 | development activities in hopefully in Spain where we are providing with a new business model for |
| 2:46.2 | BNPL. Obviously by now pay later is the hot topic at the moment but you seem to be taking a little |
| 2:55.2 | bit of a different approach to it so it's not so much that you're buying up pay later provided |
... |
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