Reinventing the credit card as a Fintech super app

Lex chats with Siddharth Batra, Co-founder at X1 Card, about his
experience in technology and software development. X1 is a
FinTech company that has created a smart credit card and has
become one of the top 100 credit cards in the US with a waitlist
of 600,000 people. Together, they discuss how Sid has articulated
his consumer product building learnings from his experience as
head of engineering at Twitter to revolutionise the traditional
credit card into a B2C financial super app. Touching on X1's
growth strategy and how it is focused on a consumer product
approach rather than traditional marketing techniques. This has
allowed them to have a 10x better referral rate than traditional
credit cards.


 


MENTIONED IN THE CONVERSATION


 


X1's website: https://bit.ly/3J9w404


Sid's Linkedin profile: https://bit.ly/3ywr6Wh


 


Topics: Fintech, paytech, artificial intelligence, consumer,
credit, b2c, pfm


 


Companies: X1, Twitter,  Venmo, Apple, Robinhood


 


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TIMESTAMPS


 


1’36”: Sid’s foundational experiences in technology & what
laid the groundwork for his career


 


8’49”: Using Stanford and network thereof as the launchpad to
becoming a startup founder  


 


11’52”: Joining Twitter and learning about consumer behaviour and
consumer’s relationship with social media content


 


15’43”: How building consumer products at Twitter formed the
basis for the articulation towards Fintech


 


17’13”: X1 - what it is, how it started, what is a smart card,
what is the software that differentiates it from competitors and
the volume growth since its inception


 


25’38”: X1’s feature set, issuing bank, its underlying regulatory
structure, and the underwriting credit policy for users


 


29’02”: X1’s economics and the crucial component to X1’s success
vs the likes of Apple Card  


 


33’21”: The winning formula - creating a step function better
product for X1’s prime audience and then offering rich feature
sets  


 


37’10”: X1’s long term ambitions and why they are positioned
better relative to other Fintechs in the market


 


42’13”: Channels to use to connect with Sid & learn more
about X1


Disclaimer here — this newsletter does not provide investment
advice and represents solely the views and opinions of FINTECH
BLUEPRINT LTD.


Contributors: Lex, Laurence, Matt, Farhad, Mike, Daniella


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