How financial services changed after the crash – Virraj Jatania, CEO, Pockit

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5 • 6 Ratings

🗓️ 26 May 2025

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

Virraj Jatania, co-founder and chief executive of Pockit, discusses how the culture of financial services has changed since the 2008 crisis, why mergers and acquisitions have become an attractive option for fintechs and the trouble with push payment fraud regulations.

Pockit is a London-based fintech that acts as a digital banking alternative targeting those whose needs are not met by traditional banks. Jatania explains the importance of providing financial services to those left behind by major institutions and the reality of running a British fintech in 2025.

Transcript

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0:00.0	The issue of being debanked is a major problem that exists in the UK market.
0:14.5	So you have, it's about a thousand people a day are having their accounts closed.
0:23.0	The cost of fraud is a huge problem, you know, to society, to the police force, you know, to
0:30.0	companies.
0:30.7	It's, you know, everyone has a real vested interest in getting this down as much as possible.
0:37.7	Entrepreneurs are taking significant risk, you know, often personal savings, you know, throwing
0:42.3	there many hours of their day, most of their hours of their day into building something
0:46.6	which is going to need to, you know, employment and growth for the UK economy.
0:50.6	And if you're not giving them really big incentives to do that, I think it does make it very hard to attract those people.
1:01.0	From the first-time founders to the funds that backs them, innovation needs different.
1:06.0	Our episode partner, HSBC Innovation Banking, is proud to accelerate growth for tech and life science businesses,
1:14.2	creating meaningful connections and opening up a world of opportunity for entrepreneurs and investors alike.
1:20.8	Discover more at www.h.hsbc Innovationbanking.com slash E.N. dash G.B.
1:32.9	Hello and welcome to the UKTM podcast, a weekly chat with the movers and shakers of the UK
1:38.8	tech industry and the destination for all things UK tech related. I'm your host, Jane Wakefield, and today I'm
1:46.0	joined by Viraraj Tatania, CEO and co-founder of Pocket, a UK fintech which specialises in lending
1:52.5	money to low-income customers. Welcome, Virash. Hi, Jane. Great to be talking to you today.
1:58.8	So let's start off with a little bit about your journey as a founder.
2:03.7	What was it that led you to focus on a fintech, which is helping the unbanked, is how you
2:11.6	describe them on your website?
2:14.0	Yes, yeah, sure.
2:14.8	Let me tell you about that.
	...

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