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Westpac did something really interesting this week. They offered people ages 18-29 a massive 3% savings rate on Westpac Life accounts, as long as the linked transaction card has at least 5 transactions per month (and the amount deposited increases each month). This is a clear attempt to stop people switching to neos who entice customers with higher savings %. Look forward to seeing how the other Big Three respond! Link 

BNPL 'Splitit' soared after announcing its Q2 results. Link

AMEX is going to release an instalment product called 'Plan It', to help with repaying credit card debt. It allows you to defer a portion of your credit card debt and then repay that over a predefined period. Link

Billionaire 'Twiggy' Forest has bough a 36% stake in local payments Fintech Azupay. Link


Insurtech 'Lemonade' floated on the NYSE, shares went up 138% and it reached a $3bn market cap. When life gives you lemons, float. Link

TikTok is being pulled from both India and Hong Kong due to some questionable data practices. Link

Aside: Detailed technical / privacy analysis of the TikTok app. tl;dr Don't install it. Link

Lululemon is buying 'Mirror', a fitness startup for $500m as it seeks to be an experiential brand. Link


There was a weird phenomenon going over the last few weeks where shopping carts were hitting massive abandonment levels. Turns out it was a GoogleBot checking if prices were legit. Link

Analysis: Why Sony invested a further $250m into Epic Games, creator of Fortnite. Link

Answers at the end of the email. 

(a) What country has roughly the same surface area as Pluto?

(b) The following cities are the second largest cities in which countries?  Basra, Chittagong, and Split?  (Two in Asia, one in Europe.)

(c) Mongolian ruler Genghis Khan died in battle in what modern day country?

(d) Azerbaijan sits on the shore of what sea?


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Assembly Payments / Careers Page
Assembly Payments manages payments, so that their customers can focus on running their business. Assembly makes navigating complex payment ecosystems easy by integrating payment workflows using clever, comprehensive APIs. Assembly has ranked in the top 10 start-ups for attracting talent and is now growing their presence in the next few years across APAC, Europe the US and Africa. 

InDebted Careers
InDebted is sublimating debt collection by leveraging machine learning to understand consumer preferences for servicing overdue accounts. We couple this with an exceptional customer experience to enable our clients to better support the financial wellbeing of their customers.

Reinventure Jobs
Open roles within the Reinventure portfolio. Maybe time for a change to FinTech?

DiviPay Jobs
DiviPay is an awesome up and coming corporate card & expense management platform. Co-founder Dan has been a long time reader / fan of the Loop! Check out the link for some of the roles they are looking for as they scale up.

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Trivia Answers 

(a) Russia. Link

(b) Iraq, Bangladesh and Croatia

(c) Yinchuan, China

(d) Caspian Sea
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