Taking on the big banks and winning with Spriggy co-founder Mario Hasanakos

March 19, 2020

In a world ruled by major corporations and big financial institutions, it’s unlikely for a young company to quickly grab a significant chunk of the market. But that’s exactly what a digital pocket money concept did. Not only that, but it has also been able to solve a pain point faced by most parents and built a reputation for being trustworthy.

Today, our special guest is Mario Hasanakos, the co-founder of Spriggy—an online banking tool that helps parents teach their kids about money. Spriggy has revolutionised how Australian kids get their pocket money while preparing them to have the skills needed in a cashless society. Mario talks about how the idea for Spriggy started and how they’ve been able to gain a foothold in the market because of their transparency and genuine desire to help people.

The financial crisis hit the market hard and has led many people to become worse off. Most critical are those with low financial literacy and Mario aims to change that. He shares with us their future plans as they continue to solve problems faced by parents.

Tune in and you might get inspired with a golden idea to change the world!  

About today’s guest Mario Hasanakos

Mario Hasanakos is co-founder of the fintech startup Spriggy, which uses real-world payments technology and mobile banking apps to help parents teach kids about money in a digital age.  Since launching in 2017, Spriggy has enjoyed tremendous success, opening over 400,000 accounts and helping countless Australian families set their kids up for financial success in a digital future. Prior to founding Spriggy, Mario worked in Investment Banking for seven years with breaks to pursue projects in technical diving and mountaineering. Holding degrees in Physics, Computer Systems Engineering and International Relations, Mario loves storytelling and has a passion for using technology in education to change the world.

Connect with Mario Hasanakos through:

Spriggy's website

Mario Hasanakos’ LinkedIn

What we discussed in Episode 498

• Mario talks about his unconventional career path
• The inspiration for Spriggy
• How Spriggy works
• Their source of revenue
• Transparency and the different types of trust
• Establishing trust and getting a foothold very quickly
• How they seek social proof
• Tactics they used to garner trust
• How they came up with their name
• Dealing with the hard times and working with a business partner
• Having the hard conversations
• Future plans for branches
• The rule of 5 they follow
• Extending their brand to other industries

Timbo’s Top 3 Attention Grabbers

Here’s what grabbed my attention from chatting with Mario...

1. I love how hard Mario and his team are working to ensure they’re a trustworthy business. Having a great brand, a frictionless transaction process, great reviews and fantastic social proof are just some of the things you could be doing to ensure the same.
   
   
2. I love Mario’s infinite respect for his business partner Alex, and their willingness to have those difficult conversations.
   
   
3. And I love Mario’s Rule of 5 - if you do anything five times in your business (or life for that matter!) then it’s time to stop and ask if you should be doing it a different way.

What grabbed your attention?

Other resources mentioned

A list of all the marketing tools Tim and his guests use to create marketing that gets results - Your Ultimate Marketing Resource List

Last week’s episode - The art AND science of standing out in this ridiculously crowded marketplace 

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