Today’s episode is sponsored by Klarna Kosma. Klarna Kosma is giving you essential open banking connectivity, not to 1 or 2, but 15.000 banks across 27 countries. Providing the base for you to build new payment services and better user experiences your customers will love. Visit kosma.com today, and give your ambitions superpowers!
NEWS HIGHLIGHT
Despite boasting of big profits, FTX and Alameda lost billions before 2022. In a motion filed on November 19, the bankruptcy pros now managing Bankman-Fried’s companies said that the entities’ 2021 tax returns collectively showed a net operating loss carryover of $3.7 billion. Link here 
Flagship Advisory Partners met with Wilko Klaassen, VP Business Development at Klarna Kosma, Klarna’s newly created open banking business unit, to learn more about Kosma’s perspective on developments in open banking and how Kosma is addressing the challenges in open banking payments and data services. Link here
BREAKING NEWS
Crackdown on Afterpay and other buy now, pay later services in Australia. The Federal Government is considering an overhaul of the system in order to protect customers from getting into “debt spirals” as a result of the interest-free credit system. Link here
Stock trading app Freetrade is reportedly ‘talking to advisors' about a potential funding round or sale. The unconfirmed report could see the low-cost trading app merge with another fintech or seek a further VC round. Link here