Majority leans into subscriptions as consolidation hits fintech sector
June 21, 2023: Banking Dive on why MAJORITY's subscription model carried it through a wave of fintech consolidation, with comments from CEO Magnus Larsson.
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June 21, 2023: Banking Dive on why MAJORITY's subscription model carried it through a wave of fintech consolidation, with comments from CEO Magnus Larsson.
“We’re in the starting phase now where money moving across borders is going to be free,” Larsson told Refresh Miami. “It should be instant, easy, and cost nothing – just like sending a text message.”
Incumbents and challenger fintechs dominate the remittance market, leading MAJORITY to forge a very narrow use case for a specific initial corridor.
"Banks need to figure out their place in the value chain ... And I think that's where you're going to see winners emerging," MAJORITY CEO Magnus Larsson said.
MAJORITY, a challenger bank that has been serving Houston's Nigerian immigrant community for the past six months, is looking to expand its services across the U.S.