Magnus Larsson is the Founder and CEO of Majority, a digital bank for migrants in the US.
As anyone who listens to this podcast knows, digital banks are making headlines all over the world.
Some people are beginning to see the market as saturated, with seemingly dozens of offerings vying for consumer spending power. Early results suggest digital challengers are struggling to convert customers at scale or to bank them profitably.
We’re extremely early in the redesign of the stagnant, centuries old retail banking industry, and we’ve yet to see much business model innovation.
Majority is an early example of what I expect to be a wave of banking offerings rethinking the role banks play in people’s lives and the relevant combinations of services to deliver value around money and the experiences it enables.
Magnus is a serial entrepreneur with decades of experience in telecom. Prior to launching Majority, he was the CEO of Rebtel, a digital telecommunications company serving migrants in Europe.
Magnus brings deep insight into the challenges faced by migrants, including but extending well beyond access to financial services.
Majority’s launch proposition includes free banking, international calling and remittances all for a low monthly subscription.
Banks have been subsidizing checking accounts with lending and fee-generating products for decades. Majority is doing the same with intrinsically linked ancillary services that reinforce community around its offering.
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Thank you very much for joining us today. Please welcome, Magnus Larsson.
Wayne is a prolific film producer and financier, having raised over $300 million and produced over 125 films with over $1 billion in production spend. He recently closed a $150 million facility for Purely Capital from a leading institutional lender.
Media and entertainment is one of the biggest industries in the world, grossing over $700 billion annually. Underpinning all those receipts is a web of financing and distribution deals with networks and streaming operators.
Aman and Wayne discuss the media financing value chain and why now is the right time to build a finance technology business in this space. They also explore how traditional funders are reacting to changes in production and consumption habits, and more.
This is a fascinating conversation about how financial services are interpreted and reinterpreted in other industries, and how rapid technological change in other sectors, in this case media, is impacting innovation in financial services.
In addition to the audio version of this podcast, today's conversation is also available on video on our YouTube channel, thanks to LaunchPod studios. Link in description.
Thank you very much for joining us today. Please welcome Wayne Marc Godfrey.