In this 146th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Daniel Döderlein, the Founder and CEO of Auka, the tech company that helped pioneer mobile-cash transfers in Europe!
Episode Highlights:
- 0:37 – Daniel introduces Auka and its journey.
- 1:26 – Daniel talks about his history as an entrepreneur.
- 6:15 – Jason and Daniel dive into the regulations that technology companies face and how they are used as a cop-out.
- 11:03 – What was the genesis of Auka?
- 19:20 – Daniel talks about the introduction of the smartphone and how that changed the mobile-finance game.
- 22:32 – mCash lost its patent protection, leading to banks launching their own mobile-payment systems.
- 24:10 – Daniel talks about his decision to take their mobile-payment system to the international market.
- 27:02 – What does Settle, the next leg of the journey, look like?
- 31:57 – What is one thing that Daniel would change in the ecosystem of his industry?
- 33:53 – What was the biggest challenge for Daniel to get where he is today?
- 35:40 – What excited Daniel the most about what he is working on?
3 Key Points
- Daniel began his entrepreneurial journey selling ice cream on a boat during summers in Norway, which led him to his entry into the world of technology.
- Daniel designed a brand-new payment system from the ground up, using Python to write the first mobile-payment system in Norway, mCash.
- Settle was designed as a mobile-payment business model to interconnect the #1 mobile-payment schemes in individual markets.
Tweetable Quotes:
- “There are so many firsts that we have done in Auka. We wouldn’t be able to pull that off unless we had a vision, some really talented and dedicated people, and some hustling skills.” – Daniel Döderlein
- “Move fast and break things does not work well in highly regulated markets, quite honestly.” – Jason Pereira
- “There needs to be some tech involved in moving this money. Let’s replace this freight train with some fiber optics.” – Daniel Döderlein
- “We believed firmly there would only be one domestic winner in the mobile-payment space in every individual market.” – Daniel Döderlein
Resources Mentioned:
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