Tearsheet Podcast: Exploring Financial Services Together

How Huntington modernized without touching the core ft. Qolo

zack.miller@gmail.com (Tearsheet Studios) — Wed, 08 Apr 2026 18:46:52 +0000

The pressure building on commercial banks today comes from several directions at once. Corporate treasurers are younger, more digitally native, and less tolerant of manual reconciliation. Business structures are more complex: A franchisee group running fifty locations needs fifty entities managed cleanly, not fifty separate bank accounts generating a month's worth of reconciliation work. And the banking core, the ledger system that underpins it all, was never designed to flex at this pace. The standard prescription for this problem is core replacement. However, banks are increasingly moving toward augmentation. Rather than replacing the core, banks are building around it, layering modern infrastructure above it to deliver capabilities the core was never meant to provide. Huntington National Bank's connected deposits product, built in partnership with payments infrastructure provider Qolo, is one example of that approach in practice. For Deepak Kapoor, Huntington's H ead of Payment Products, the realization was straightforward: "We quickly realized we don't have all the Lego pieces in place to build the card that we want to build, and the ledger and the virtual account provide us with that missing Lego piece that we needed." The result is a virtual account structure that sits above the core and behaves, externally, like a real bank account, complete with routing numbers, inbound wires, and automated reconciliation, without requiring banks to touch the underlying system of record.

Squarespace's Corey Zettler on building a financial services suite for small businesses

zack.miller@gmail.com (Tearsheet Studios) — Tue, 07 Apr 2026 17:46:56 +0000

For two decades, Squarespace has been the platform entrepreneurs turn to when they want to build something that looks like they hired a designer. But over the past few years, something has changed. Squarespace has been building a financial stack. Payments launched in 2023. Capital followed in 2025, offering merchants flexible financing based on their sales history. And just two weeks ago, Squarespace launched Balance, a native business financial account integrated directly with Squarespace Payments, giving merchants a business Visa card, cash rewards, and faster access to their funds, all without leaving the platform. It's a familiar playbook, Shopify has run it, Stripe has run it, but Squarespace is doing it for a specific kind of entrepreneur: the creative, the maker, the small business owner who wants to run their whole business from one place. Today I'm joined by the person architecting that vision. Corey Zettler is Director of Product, Financial Solutions at Squarespace, where he leads strategy across Payments, Capital, and Checkout. Before Squarespace, Corey spent more than 15 years at companies like Shutterstock, MakerBot, and Chief, and before that he was a wealth planner, which means he came into product from the money side, not the tech side, which makes him an interesting person to think about what financial services actually needs to do for real people.

How Paze is betting bank trust can crack the digital wallet market

zack.miller@gmail.com (Tearsheet Studios) — Wed, 01 Apr 2026 00:15:05 +0000

Early Warning built Zelle into the dominant peer-to-peer payments network in the U.S. — processing over a trillion dollars in yearly transactions. Paze is their next bet: a bank-backed digital wallet for e-commerce checkout, backed by the same seven major banks, designed to bring that same institutional trust to online shopping. Serge Elkiner came on as GM in late 2024, brought over from Visa where he ran product for money movement globally. His mandate is to unlock what that network can do at checkout — with 165 million eligible cards now in place and distribution deals closing with Fiserv, Worldpay, and ACI. Today we talk about what it takes to convert infrastructure into consumer behavior, and whether the banks can do for e-commerce what they did for P2P.

How KeyBank and Qolo are modernizing corporate treasury without ripping out the core

zack.miller@gmail.com (Tearsheet Studios) — Thu, 26 Mar 2026 00:15:05 +0000

A mid-market company with dozens of bank accounts shouldn't have to deploy a small army to figure out where its money is. But for most commercial banking clients, that's still the reality because the systems tracking it haven't kept up. Banks know this. Most of their commercial clients know this. The gap between what legacy infrastructure can deliver and what today's treasury teams actually need has been widening for years, and the banks that aren't solving it are starting to lose ground to those that are. KeyBank and Qolo are building a way out of that problem. Bennie Pennington, Head of Embedded Banking at KeyBank, and Patricia Montesi, CEO of Qolo, joined Tearsheet to talk about how they designed and launched a real-time virtual account management platform together — and what it's already proving in the market.

How Modern Treasury is building a payments platform for a hybrid money world

zack.miller@gmail.com (Tearsheet Studios) — Tue, 10 Mar 2026 00:00:00 +0000

For years, companies that needed to move money at scale faced the same frustrating tradeoff: build their own bank integrations and compliance infrastructure — a process that could take months — or stitch together a patchwork of specialized vendors, each covering a different rail. Modern Treasury has spent years sitting inside that problem, providing software infrastructure to help companies integrate with their banks, track funds, and manage ledgering at scale. Now, the founders have taken the company a significant step further, launching Payments, an integrated PSP that handles onboarding, KYB, and banking infrastructure on a client's behalf, compressing what used to be a six-month setup into days. Stablecoins are built in natively from day one, powered by Modern Treasury's acquisition of Beam, a stablecoin infrastructure company founded by Dan Mottice, who previously led crypto products at Visa and now heads stablecoin strategy at Modern Treasury. The result is what the company calls a "forever payments platform," designed to let companies start with fiat or stablecoin payments quickly with a single integration and expand over time, without the painful migrations that have historically defined scaling a payments stack. Listen to the podcast to learn about how Modern Treasury is thinking about fiat rails and stablecoins as complementary infrastructure, how the Beam acquisition shaped the new product, and why President Dimitri Dadiomov and Mottice believe the most significant near-term stablecoin opportunity lies in how companies manage working capital.

Truist's Dontá Wilson: 'Innovation without empathy is empty’

zack.miller@gmail.com (Tearsheet Studios) — Wed, 04 Mar 2026 10:10:49 +0000

There's a tension at the heart of modern banking that technology doesn't seem to totally resolve: how do you be both, digitally excellent and deeply human at the same time? Most banks have picked a lane: either betting on digital efficiency or doubling down on relationship banking. But consumers aren't asking for one or the other. They want both. They want their banking app to work flawlessly when they need it, and they want someone who actually knows them when it matters. My guest today is Dontá Wilson, Truist's Chief Consumer and Small Business Banking Officer. He leads 20,000 teammates serving clients through both digital channels and more than 1,900 community banking branches. His portfolio spans core deposits and loans to mortgage, auto, credit cards, and the full stack of consumer products. He also oversees Truist's multi-year growth plan that's reimagining both their digital experience and their physical branches using insights and AI. We talked about how AI is redefining consumer expectations and trust, what it takes to innovate inside a highly regulated industry while keeping client purpose at the center, and why Dontá believes innovation without empathy is empty.

Pathward's Anthony Sharett on why sponsor banking's future is about evolution, not revolution

zack.miller@gmail.com (Tearsheet Studios) — Wed, 11 Feb 2026 11:00:04 +0000

Sponsor banking has become one of the most scrutinized business models in financial services. The headlines focus on enforcement actions and regulatory pressure, but behind that noise is a more interesting question: when done right, how do bank-fintech partnerships actually expand financial access to people the traditional system has left behind? My guest today is Anthony Sharett, President of Pathward. Before joining Pathward he led Nationwide Pet Insurance and served as Interim President of Nationwide Bank. At Pathward, his mission is powering financial inclusion through partnerships with fintechs and platform companies. We're going to talk about how the sponsor banking model actually works, what makes these partnerships succeed or fail, and why Anthony believes these relationships are essential to expanding financial access beyond what traditional banks can reach on their own.

Why banks need to adopt a product mindset for their digital channels

zack.miller@gmail.com (Tearsheet Studios) — Wed, 14 Jan 2026 11:14:58 +0000

Digital banking has become the largest branch of modern banking, yet most banks and credit unions still aren't approaching these experiences with a product mindset. They're managing digital channels the way they've always managed technology: as IT projects, rather than products that need constant refinement based on user behavior. The result is an ecosystem where institutions miss opportunities to serve different customer segments effectively and struggle to demonstrate ROI on their digital investments. "Banks sell rails, and fintech sells outcomes," said Dados’ Christine Berry, a quote that Anthony Ianniciello, VP of Product Management at Q2, says encapsulates the fundamental shift that needs to happen. "That really gets to the heart of how you shift that mindset away from, I have this thing, and I have it for you, as opposed to, here's what I really want to drive for your success." Q2 has partnered with Pendo, a product experience platform, to help regional and community financial institutions make this transition. Trisha Price, Field Chief Product Officer at Pendo and host of the Hard Calls podcast, brings a cross-industry perspective on how companies leverage behavior data and analytics to build better products. Listen to this podcast to learn how banks and credit unions are using product management principles, user behavior data, and in-app guidance to transform their digital channels from cost centers into strategic growth drivers. And for a deeper dive into how Software Experience Management can boost banker productivity and drive measurable ROI.

How TruStage Ventures built connective tissue between fintechs and credit unions

zack.miller@gmail.com (Tearsheet Studios) — Mon, 22 Dec 2025 10:25:03 +0000

Welcome to the Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I'm Tearsheet's editor in chief, Zack Miller. For fintechs, cracking the credit union market is notoriously difficult. It's relationship-based, insular, and requires a fundamentally different approach than banking. Many try and fail. But when done right, it opens up distribution to institutions serving over 140 million Americans. Today I'm joined by Brian Kaas, president and managing director of TruStage Ventures, the corporate VC arm of TruStage—a $5.5 billion annual revenue insurer that works with 92% of credit unions nationwide. Since 2016, TruStage Ventures has deployed $400 million across 50 portfolio companies and facilitated over 3,000 partnerships between credit unions and fintechs. We first spoke with Brian in 2021 when the fund was just gaining traction. Four years later, the portfolio has matured with companies like Ethos, Current, and SmartAsset, and Brian's team has become essential connective tissue between innovative fintechs and credit union distribution. We'll dig into what makes credit union partnerships different, why so many fintechs struggle to break in, and why stablecoin solutions have become the number one request Brian's hearing from credit union CEOs.

How FIS is helping financial institutions evolve loyalty beyond rewards

zack.miller@gmail.com (Tearsheet Studios) — Thu, 18 Dec 2025 08:00:03 +0000

Financial institutions are rethinking loyalty at a critical moment. Credit card spending sits at record highs, but economic uncertainty looms. For banks aiming to stay relevant, loyalty can no longer be an afterthought – it needs to be embedded into every customer experience from the start. At FIS's Emerald 2025 conference in Orlando, Mladen Vladic, general manager of loyalty services at FIS, sat down to discuss how the loyalty industry is evolving beyond traditional card-based rewards. His central argument: Financial institutions need to shift from chasing share of wallet to capturing share of mind first.

Banks reclaim commercial lending through technology and strategic partnerships

zack.miller@gmail.com (Tearsheet Studios) — Mon, 15 Dec 2025 06:55:23 +0000

Commercial banks are confronting a rapidly shifting landscape as private credit markets grow toward $3.5 trillion and fintech competitors accelerate their offerings with AI-powered tools. Rather than retreating, traditional institutions are doubling down on technology investments and reimagining their commercial lending strategies to compete in this new environment. "Banks are not short-term thinkers," says Héctor Pagés, SVP and Head of Global Commercial Lending at FIS. "We're not seeing a slowdown in terms of interest or investment from our institutions, in terms of advancing and changing the ways that they're working." The response from banks has been multifaceted, according to Pagés. Some retail-focused institutions are shifting resources toward commercial lending, while smaller commercial banks are expanding into more complex lending products. Others are adopting an "originate to distribute" model, partnering with private credit firms to spread risk while generating fee income. This strategic evolution is happening against a backdrop of regulatory uncertainty, tariff fluctuations, and the continued expansion of non-bank lenders into territory traditionally dominated by banks. Listen to the podcast to learn about how banks are transforming their commercial lending operations through unified technology platforms, the role of AI in automating credit decisions and underwriting processes, and why cloud infrastructure is becoming essential for global scalability.

How community banks are balancing urgent pressures with long-term modernization

zack.miller@gmail.com (Tearsheet Studios) — Tue, 09 Dec 2025 08:31:03 +0000

Community and regional banks operate in an environment of perpetual tension. They need to grow deposits and drive lending profitability while managing operating costs that threaten to overwhelm smaller institutions. They must also prevent increasingly sophisticated fraud while delivering customer experiences that match Amazon and Netflix. And they need to do all of this while building technology foundations that won't become obsolete before the implementation is complete. At FIS's Emerald 2025 conference in Orlando, Peter Boyer, head of banking at FIS, and Craig Focardi, principal analyst at Celent, discussed how financial institutions are navigating these competing demands. Focardi and Boyer discuss how modernization is now a continuous process of adaptation, and that the institutions most likely to succeed will focus on enabling agility rather than chasing specific technologies. "If you really take a step back and think about regional and community banking, there's a couple headwinds or tailwinds, that are driving how banks are thinking about the market," Boyer explained. "One is deposit growth and profitability growth through lending. Every bank right now is thinking, how do I grow? What is my sweet spot in my segment? Thing two is operating costs. How do they continue to drive a more efficient bank? AI is a big topic on that particular solution. And thing three is fraud. How do you protect the banking ecosystem? You put those three together and you've got a meaningful amount of where the energy is in the market today."

Why every bank now needs a stablecoin strategy (whether they like it or not)

zack.miller@gmail.com (Tearsheet Studios) — Mon, 08 Dec 2025 15:05:06 +0000

The GENIUS Act brings regulatory clarity to stablecoins, but Conduit CEO Kirill Gertman argues that clarity alone won't guarantee success. Banks face a choice between building their own infrastructure or becoming the pipes for others. Kirill Gertman has watched the stablecoin industry evolve from multiple angles. He spent nearly two decades in financial services before founding Conduit in 2021, including six years in crypto and a stint as VP of product at BRD, which became Coinbase Wallet. His company grew 16x in 2024 by solving a practical problem: businesses in emerging markets were accumulating stablecoins to hedge against local currency volatility but couldn't use those balances in their day-to-day operations. Conduit now works with tier-one banks and multinational corporations, processing billions in cross-border payments. And with the GENIUS Act bringing the first comprehensive regulatory framework for stablecoins in the United States, Gertman argues the legislation's passage raises as many strategic questions as it answers—particularly for banks that have been sitting on the sidelines. Today, we'll explore why the GENIUS Act matters, the critical difference between stablecoins and deposit tokens, what strategy banks should actually pursue, and where Gertman sees the industry heading as major players race to build vertically integrated stacks.

Why venture capital infrastructure is finally getting automated

zack.miller@gmail.com (Tearsheet Studios) — Tue, 02 Dec 2025 16:26:56 +0000

The venture capital world has a liquidity problem. With IPOs scarce and M&A exits few and far between, investors have been stuck in positions for years, unable to return capital to their LPs or move into new opportunities. But while traditional exit doors have stayed shut, technology has opened up new ones—specifically, platforms that make it possible to create and trade Special Purpose Vehicles at scale, something that used to require armies of lawyers and fund administrators. Today I’m joined by Nik Talreja, the CEO and co-founder of Sydecar, a platform that’s turned what used to be a manual, months-long process into something you can do in days. He started his career as a securities attorney at firms like Weil Gotshal and Cooley, where he spent his days drafting the same documents over and over for venture deals. That experience showed him that much of what venture capitalists were paying lawyers to do could be standardized and automated, which led him to found Sydecar in 2021. In our conversation, he explains how technology is reshaping private market infrastructure, what gets automated and what still needs human expertise, and how software is changing who can participate in venture investing.

How to build a partnership that can survive market disruptions ft. Cross River and Best Egg

zack.miller@gmail.com (Tearsheet Studios) — Mon, 17 Nov 2025 15:05:51 +0000

Some partnerships in financial services begin with a handshake and end with a contract dispute. Others start with a Sunday morning LinkedIn message and evolve into something that transcends the typical vendor-client relationship. The collaboration between Cross River Bank and Best Egg falls firmly into the latter category. "When we first got into the business, we met several new companies, and some of them were like three guys in a garage," recalls Adam Goller, EVP and Head of Fintech Banking at Cross River. An impromptu conversation in 2013 between Best Egg's founder and Cross River's CEO would eventually grow into a partnership that has facilitated nearly $35 billion in loans and 2.5 million customers – reshaping the lives of people and communities who were previously underserved by traditional FIS and had limited access to credit. What began as basic loan origination has evolved into sophisticated closed-loop capital market solutions, including the development of Best Egg's "BEAST" securitization platform, which uses Cross River’s CRB Securities to package assets for sale to institutional investors. The progression reflects Cross River’s willingness and ability to help fintechs climb the rungs of product expansion as they grow: "We have so many use cases where a partner came to us for lending, and that ultimately expanded to a deposit product, a payment service, and a card product," Goller notes. Although partners that offer point solutions can help fintechs get started, they don’t set them up for the future. The Cross River - Best Egg partnership shows how the right BaaS and bank partner helps fintechs move beyond the start up mindset with more sophisticated financial support as they mature. Listen to this conversation to learn about the blueprint fintechs should use to identify the right banking partners at the start and how Cross River can help fintechs look beyond isolated business cases and build long term product road maps, with the support of a large financial institution and the agility of a fintech.

How CFOs can regain strategic control in times of economic volatility ft. FIS’ Chrissy Wagner and Seamus Smith

zack.miller@gmail.com (Tearsheet Studios) — Fri, 14 Nov 2025 08:00:48 +0000

CFOs are abandoning quarterly planning cycles for week-by-week assessments as trade tensions, tariff uncertainty, and supplier volatility force a new short-term reality onto financial leadership. Seamus Smith, EVP and Group President of Automated Finance at FIS, and Chrissy Wagner, SVP of GTM at FIS, break down how finance leaders can balance urgent risk management with strategic growth positioning through data quality, automation, and AI. Smith and Wagner reveal that cybersecurity tops the list of CFO concerns, but inefficient processes and lack of visibility into money flows are the real operational killers, particularly as organizations grow through M&A. They explain how FIS helped clients navigate recent tariff disruptions through better data visibility, why paper checks remain one of the biggest fraud vectors in modern finance, how supply chain finance is underutilized in the US compared to Europe, and why AI is already delivering $3.70 in returns for every dollar invested in credit underwriting and collections.

Banks or Pipes: Where financial institutions go when agents take over

zack.miller@gmail.com (Tearsheet Studios) — Fri, 14 Nov 2025 06:00:38 +0000

Welcome to a special 4dFi podcast exploring the latest trends and technologies reshaping finance. I'm Zack Miller, Tearsheet's Editor in Chief. Today, we're unpacking the rise of AI agents and their potential to transform how consumers interact with financial services. I'm joined by my partners Russell Weiss, an AI expert and startup builder, and Josh Liggett, a seasoned fintech investor. Together, we'll bring a multidimensional view to this complex space. We'll dive into real-world examples like Capital One's Chat Concierge, which has driven a 55% boost in customer engagement by automating key tasks across thousands of auto dealer sites. Looking ahead, we'll consider the implications for traditional banks. Will they invest billions in proprietary AI models, or cede ground to big tech and infrastructure players increasingly embedding financial services? We don’t have all the answers but want to open up with good questions and thinking about where things are headed. We'll also explore how the evolution of AI agents could intersect with web3, crypto, and asset tokenization to enable digital transactions. Russell and Josh will weigh in on which players are poised to thrive in this new era of AI-powered finance. There's a lot to cover, but one thing is clear: AI is no longer a far-off possibility for banks. It's a present-day reality redefining what's possible. Stay tuned for a thought-provoking discussion of the opportunities and challenges ahead.

AI agents in production: Nvidia's Kevin Levitt on infrastructure for live banking systems

zack.miller@gmail.com (Tearsheet Studios) — Wed, 12 Nov 2025 08:34:18 +0000

Welcome to the Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I'm Tearsheet's editor in chief, Zack Miller. We've been covering AI in financial services for a while now—chatbots, generative AI, fraud detection models. But something fundamental is shifting. We're moving beyond AI as a tool that assists humans to AI as an actor that takes action on our behalf. Agentic AI is no longer a research project. It's live. Capital One has AI agents helping consumers buy cars. Visa is letting AI agents spend your money. RBC has agents executing trades, learning and adapting in real-time to market conditions. It's already here. The question is: what does it take to make this work at scale? What infrastructure do you need when an AI agent is handling real financial transactions at 2 AM? How do you architect for reliability when there's no human in the loop? My guest today is Kevin Levitt, who leads global business development for financial services at Nvidia. Before Nvidia, Kevin spent years inside fintechs like Credit Karma and Roostify. At Nvidia, he's working with firms like Capital One, Visa, and RBC as they deploy agentic AI in production—not pilot programs, actual live systems processing real transactions. We're digging into the case studies, the computational demands of multi-agentic systems, the security challenges when agents control money, and what financial institutions need to be thinking about now. Nvidia's Kevin Levitt is my guest today on the podcast.

FIS's McWilliams on SMBs, data sharing, and the strategy that wins in a competitive environment

zack.miller@gmail.com (Tearsheet Studios) — Fri, 07 Nov 2025 08:25:08 +0000

Banks dramatically underestimate how their customers share financial data, and most of it happens through insecure screen scraping that creates fraud vulnerabilities and slows performance. Shane McWilliams, Head of Retail Digital Banking at FIS, breaks down the three critical challenges separating thriving institutions from those being left behind: serving small and medium businesses as a central financial hub, enabling secure data sharing through APIs, and moving beyond product-centric thinking to build sticky customer relationships. McWilliams reveals that when he asks bank executives to guess what percentage of their customers are sharing data with third parties, "they're not even close" to reality. He explains how modern SMBs expect their banks to integrate everything from cash flow monitoring to accounting systems, why personalization needs to go beyond UX optimization, and how banks that orient around customer needs rather than products will win in today's competitive environment.

How Wix built payments, checking, and capital for 293 million users

zack.miller@gmail.com (Tearsheet Studios) — Wed, 05 Nov 2025 09:01:10 +0000

Although every company is becoming a fintech now, Wix didn’t set out to do so – the firm’s entry into financial services started from observing what millions of small business owners actually needed when building their online presence. For Amit Sagiv and Volodymyr Tsukur, co-heads of payments at Wix, the path to serving these SMB customers well was paved through financial products: Wix had to take the payment infrastructure it had built for itself and transform it into tools that could help merchants manage their businesses. The foundation was already there. Wix had developed sophisticated billing systems to support its freemium model, accumulating deep expertise in payment routing, risk management, and global processing. "We built tremendous payment capabilities," Sagiv explained. "The billing manager of Wix wanted to take that offering and build a service for our users." What started as a small project evolved into a comprehensive financial platform serving businesses across the globe. The company now processes over $3 billion per quarter with a team of 160 people, covering payments, checking accounts, and capital lending. Listen to the podcast to hear how a chance collaboration between Wix's billing team and gateway developers turned into a fintech operation processing billions quarterly. Sagiv and Tsukur discuss why they deliberately avoided becoming a full-fledged bank, and how website data reveals creditworthiness before transaction history does. It’s a conversation that dives deep into what it means to be serving SMB customers digitally and how firms can do embedded finance right.

How Lendflow is helping embedded lenders reduce system fragmentation and gain an edge in AI

zack.miller@gmail.com (Tearsheet Studios) — Thu, 23 Oct 2025 13:01:16 +0000

SMBs don't have access to the same level of sophisticated lending options as consumers.There is one fundamental problem that prevents this class of product from pushing forward: lenders juggle multiple data vendors, wrestle with disconnected point solutions, and these tools lack the ability to paint a full picture of the SMB customer and their needs. The result is an ecosystem where a majority of time is spent on solving operational blockades rather than building solutions that cater to the whole lending lifecycle of a SMB customer. “We need something that covers everything. There can't just be a bunch of point solutions," says Jon Fry, founder and CEO of Lendflow. Lendflow has tackled this challenge by building a unified embedded lending infrastructure that works with over 200 companies to streamline three critical pillars in the lending lifecycle: distribution, decisioning, and workflow automation. The firm is not a lender today, nor are they interested in becoming an embedded lender in the future; instead it has positioned itself as the technology backbone that enables existing lenders to become embedded lenders themselves. Lendflow’s approach is paying off for clients like BHG Financial, which uses the firm's entire platform suite and has seen dramatic improvements in operational efficiency and approval rates through the partnership. Listen to this podcast to learn how Lendflow is helping lenders break out of the fragmentation quagmire and access a full agentic AI toolbox that helps re-engage borrowers, as well as improve efficiencies for internal processes.

How Upstart's AI is mastering growth, credit performance, and profitability

zack.miller@gmail.com (Tearsheet Studios) — Wed, 22 Oct 2025 07:26:32 +0000

Welcome to the Tearsheet podcast, where we explore financial services together with an eye on technology, innovation, emerging models and changing expectations. I'm Tearsheet Editor in Chief, Zack Miller. There's an old theory in lending that you can only master two or three things: growth, credit performance and profitability. For decades, this has been accepted wisdom, until AI started changing the fundamentals of how we assess credit risk. Today, I'm joined by Paul Gu, Co-Founder and Chief Technology Officer of Upstart. Paul's journey reads like a modern Silicon Valley story—from Chinese immigrant to Yale dropout. He became part of the inaugural class of Thiel Fellows before co-founding Upstart in 2012. Under his leadership, Upstart has gone from zero model training data points in 2013 to processing 91 million data points today. Their AI predicts both default and prepayment likelihood for every month of a loan's term, and Paul believes Upstart's AI is bringing them closer to achieving all three pillars of lending—an approach that could redefine consumer lending across the entire credit lifecycle. We'll explore how this evolution is playing out, dive into Upstart's 2025 roadmap, including their push for 10x AI leadership and GAAP profitability, and discuss what this means for the future of credit.

Temenos embeds AI at the core, not just around it ft. CPO Sai Rangachari

zack.miller@gmail.com (Tearsheet Studios) — Tue, 21 Oct 2025 12:59:44 +0000

In a sector where AI is promising a significant leap forward, financial institutions demand speed — with safety. Temenos has a track record of innovation and the customer trust to bring AI into the core of banking. Chief Product Officer Sai Rangachari is just nine months into his role at Temenos, but his mandate is sweeping: simplify product experience, co-create with banks, and embed AI across the entire platform. “There are three things that you hear from leadership and customers. Number one is product experience, resiliency, availability — investing more in making it easier to consume,” he said. “The second one is co-creation. Customers want to give us more advice. They want to be in the room. They want to help shape the products. Ultimately, they are the users so we welcome it.” The third undertaking is layering AI across Temenos’ entire product suite. With Product Manager Copilot, FCM AI Agent and AI Studio, Temenos is helping clients simplify workflows and enhance decision-making, and giving them the flexibility to build and scale their own AI use cases within a trusted, regulated environment. In this episode, Rangachari discusses why traditional technology providers are in a better position to help banks integrate AI than fintechs, how Temenos’ AI strategy could change the way we experience retail banking, and where he sees traditional providers’ competitive advantage.

Understanding the jabuticaba factor: How QED's Camila Vieira mastered local nuance in Latin American fintech investing

zack.miller@gmail.com (Tearsheet Studios) — Wed, 15 Oct 2025 08:56:41 +0000

Today, we're joined by Camila Vieira, a Partner at QED Investors focused on Latin America. Camila brings a wealth of experience to our conversation, having established herself as one of the region's most influential fintech investors. Camila joined QED in 2022 as the company's first employee based in São Paulo, Brazil, where she focuses on early stage investments. As an investor and operator with experience working across different regions, she brings a well-rounded perspective to the table, connecting founders and startups to valuable resources while leveraging QED's deep fintech expertise. Prior to joining QED, Camila built her career at the intersection of technology and financial services. She started at Moody's, a credit rating agency, before joining Goldman Sachs to focus on corporate credit and economic risk. Later, as part of Goldman's investment banking division, she helped fintech, software, and e-commerce companies raise capital and navigate the transition from private to public markets. She went on to join the global strategy and corporate development teams at Ceridian, a global software company servicing more than 160 countries. More recently, Camila spent time at Hotmart, a Brazilian tech unicorn whose platform facilitates sales of digital products, enabling creators to build, monetize, manage, and grow globally. There, she led strategy and operations, ESG, and investor relations. Today, we'll explore the dynamic Brazilian fintech ecosystem, discuss cross-border investment opportunities, and uncover lessons that US investors and financial professionals can apply when looking to diversify their portfolios into these high-growth regions. Before we jump in, I just want to tell you about a new initiative we’re running at Tearsheet. 4dFI is an exclusive group of out-of-the-box builders and investors knitting together a community to invest in the next wave of fintech startups. We’re bringing together current and former banking executives interested in investing in and learning about emerging market fintech startups. 4dFI’s network will be able to both help new companies reach maturity faster, while startups can provide new ways of thinking to our community members. At 4dFI Capital Partners, I'm joined by Russell Weiss, experienced product and startup builder and Josh Liggett, who has led fintech and blockchain diligence, investments, and strategic partnerships at OurCrowd. If you are interested in learning how emerging market fintechs are changing the financial services landscape around the globe and would like to play a part in crafting this new future, signup on https://tearsheet.co/4dFI.

How FIs are using modular modernization and the cloud to keep up with the change in payments ft. FIS and AWS

zack.miller@gmail.com (Tearsheet Studios) — Thu, 02 Oct 2025 08:15:20 +0000

The payments landscape is experiencing regulatory upheaval, forcing financial institutions to rethink their approach to money movement modernization. With ISO message format changes, Swift updates, and evolving fraud requirements hitting simultaneously, banks are facing a complex web of compliance demands that require immediate attention. "The regulatory agenda for money movement is probably one of the most aggressive we have," said Elaine Duff, SVP and Head of Money Movement at FIS. "It's across the globe. We're seeing the ISO message intended to help firms standardize their messaging, become more efficient, and make their operations much more standardized." Yet the scale of change extends far beyond simple messaging updates. The oncoming change affects fraud tools, digital channels, reporting formats, and entire operational workflows. For many institutions, the traditional rip-and-replace approach to modernization has become both financially and operationally untenable. Nick Dovaras, Global Account Manager at AWS, emphasized the broader pressures driving urgency: "There's customer expectations as well. Customers are expecting 24/7, instant, and customer-friendly mobile applications that are connected to online systems.” Dive into this episode to hear about how financial institutions are navigating regulatory pressures through modular modernization strategies. FIS’ Duff and AWS’ Dovaras break down the critical role embedded fraud protection is playing in real-time payments, and why cloud-based solutions are enabling banks to modernize their money movement capabilities without the risks of traditional rip-and-replace approaches.

'We're changing the narrative on athletes being dumb money': The Player's Company

zack.miller@gmail.com (Tearsheet Studios) — Wed, 01 Oct 2025 08:30:52 +0000

Today on the Tearsheet Podcast, we're diving into a story that captures the evolution of modern finance — where professional athletes aren't just endorsing products, but building the infrastructure that empowers the next generation of wealth creators. I'm joined by Sheldon Day, Co-Founder and President of The Player's Company, a collective of over 500 professional athletes and accredited investors who are rewriting the playbook on financial empowerment. As a NFL defensive tackle with the Washington Commanders and eight-year veteran, Sheldon understands firsthand the financial realities that athletes face both during and after their careers. The Players Company isn't just another investment club — it's a platform democratizing access to wealth-building tools once reserved for the ultra-wealthy, while providing financial education many athletes never received. Since 2019, TPC has facilitated investments in startups like ZenWTR, Teamworks, and Public.com, proving athletes can be sophisticated capital allocators when given the right resources. We'll explore how Sheldon went from reading defensive formations to reading investment prospectuses, and how The Players Company is scaling to empower athletes across all sports to build generational wealth.

How design-thinking powers Temenos' empathy-driven experiences

zack.miller@gmail.com (Tearsheet Studios) — Thu, 25 Sep 2025 09:29:06 +0000

From streamlining complex onboarding flows to surfacing the right information at the right time, design thinking encourages product design teams to bring empathy and intentionality into every layer of product development, creating experiences that are intuitive, responsive, and centered around real human needs. Temenos is leading the charge to bring that mindset back to banking innovation, with Erik Johnson, Head of Product Design, at the helm. For Johnson, creativity and collaboration go hand in hand with functionality. On this episode of the Tearsheet podcast, Johnson talks about structuring his design team in a “centralized, hybrid” model, solving design challenges with data and empathy, and how Temenos’ Innovation Hub in Orlando is structured to be a “we space” for exploring and co-creating new banking products.

Why record keepers are becoming workplace financial wellness firms, ft. FIS

zack.miller@gmail.com (Tearsheet Studios) — Thu, 18 Sep 2025 08:46:16 +0000

More than half of Americans report that they will run out of money when they stop earning a paycheck and millions haven't saved enough to maintain their standard of living in retirement, There is an urgent need to re-imagine the role record keepers play in financial wellness, and it starts by leveraging technology to close the gap between capabilities and customer expectations. “When I look at things like automatic enrollment and automatic increase, that's where it starts,“ explains Will Hicks, Head of FIS Global Retirement Products and Services. “Then it bleeds into the technology phase in terms of how you deliver that. How do you actually let participants know how that impacts their financial future?“. The sector is in transition, where traditional retirement record keeping is expanding into comprehensive financial wellness platforms. Scott Parker, Partner at Deloitte Consulting and leader of their wealth retirement practice, notes that the industry is “at the cusp of taking it to the next level and getting outside of what we've always done in the past, which is more and more communication.“ The change is driven by both technological capabilities and changing expectations which center around integrated solutions: “Our clients are asking us to bring those solutions together, because they want a clear picture of not just their retirement, but what are they doing in the banking space?“ said Sherry Baker, SVP and Head of Global Wealth Products and Services at FIS. Listen to the podcast to discover how retirement industry leaders are breaking down traditional silos to deliver integrated financial wellness solutions that go far beyond the 401(k). Learn the role that modernization, data, personalization, and cybersecurity play in pushing record keepers forward. It's a conversation on record keeping organizations can meet regulatory requirements while meeting the daily engagement expectations of younger participants.

The jazz ensemble approach: How Fundbox's dual leadership model powers lending growth

zack.miller@gmail.com (Tearsheet Studios) — Wed, 17 Sep 2025 07:24:01 +0000

As fintech companies transition from scrappy startups to scaled operations, traditional leadership models often hit their limits. The demands of managing complex partnerships, navigating regulatory requirements, and driving sustainable growth require a different kind of executive structure than the founder-led approach that got many companies off the ground. Today, I'm joined by Prashant Fuloria, CEO of Fundbox, and Anchit Singh, the company's Chief Business Officer, to explore how they've developed a collaborative leadership model that's helped drive Fundbox's evolution in the embedded finance space. We'll dig into the CEO-CBO dynamic, how they divide responsibilities, and what other growing fintechs can learn about building leadership structures that scale.

Adam Nash on building Daffy, the membership-based platform for charitable giving

zack.miller@gmail.com (Tearsheet Studios) — Wed, 10 Sep 2025 07:34:32 +0000

Americans give nearly half a trillion dollars to charity each year—over 2% of GDP. Yet despite this massive scale, charitable giving remains stuck in the past, dominated by donor-advised funds marketed exclusively to the wealthy and clunky processes that make generosity harder than it should be. Today I'm joined by Adam Nash, co-founder and CEO of Daffy, a modern platform that's democratizing charitable giving through technology. Adam brings decades of experience building consumer fintech products as the former CEO of Wealthfront and in leadership roles at LinkedIn, Dropbox, and eBay. During the pandemic, he recognized that while fintech had revolutionized how we save and invest, charitable giving had been largely untouched by innovation. We'll explore why Adam left Wealthfront to tackle charitable giving, how Daffy's membership-based model differs from traditional approaches, and why he believes donor-advised funds will soon be as common as 401ks. Adam will share insights on tax-advantaged giving as more people hold appreciated assets like stock and crypto, how Daffy is incorporating AI, and why they've opened their APIs to partners like Betterment and Robinhood.

How cloud-native core banking helped EQ Bank grow through improved customer experience

zack.miller@gmail.com (Tearsheet Studios) — Tue, 02 Sep 2025 11:00:42 +0000

As the banking landscape accelerates toward digital transformation, some financial institutions are questioning how fast and far to leap. Others have long made the jump. As Canada’s first cloud-native bank, EQ Bank is already ahead of the curve. Its early adoption of a cloud-native core banking platform through a partnership with Temenos is now powering its next phase: real-time data and AI-driven innovation. Behind it all is a long-standing relationship between EQ and Temenos that encourages mutual collaboration and support. In today’s episode, Temenos’ Chief Revenue Officer Will Moroney and EQ Bank’s Vice President and Chief Technology Officer Geoff Vona discuss the benefits of cloud-native banking, improving customer experiences through real-time data, developing new capabilities powered by AI and how technology partners and banks can offer each other deeper value.

How Citi is helping insurers compete in an always on digital payments landscape

zack.miller@gmail.com (Tearsheet Studios) — Mon, 25 Aug 2025 13:12:34 +0000

Today, traditional insurance faces mounting pressures from new technologies and market entrants, and digital transformation has become an imperative rather than an option. Kamiel Bouw, Global Head of Insurance for Citi Treasury and Trade Solutions, joins the show today. He brings extensive experience navigating this evolving landscape, where efficiency, data-driven approaches, and customer-centricity have become paramount. With traditional insurers working to adopt new technologies within legacy infrastructure, Buow describes how Citi has positioned itself to strategically support these organizations capture opportunities while enhancing customer experience. Throughout the interview, Buow explores several transformative themes reshaping the insurance industry. He uses real life case studies to emphasize the tremendous opportunity in digitizing payment processes — both for premium collections and claims payments — highlighting how instant payments can create superior customer experiences while providing operational benefits. Buow also discusses how Treasury functions must evolve beyond their traditional role as financial settlement centers to become innovation leaders, engaging across enterprise-wide initiatives and providing expertise in risk management and end-to-end payment flows. Listen to the podcast to gain unique insights into emerging technologies like digital assets and tokenization and their growing role in insurance, and how organizations can start with small, focused use cases to drive learning and foster broader adoption of this new tech.

Banks can't duct tape their way out of legacy system failures. Core modernization is a business imperative

zack.miller@gmail.com (Tearsheet Studios) — Tue, 12 Aug 2025 11:00:13 +0000

Banking executives face a familiar dilemma: decades-old core systems technically constrain innovation while replacement costs can reach hundreds of millions of dollars and take years to implement. Meanwhile, fintechs launch new products in weeks while traditional banks remain trapped in months-long approval cycles. The challenge extends beyond technology. "Most banks duct-tape capabilities onto what they already have, and eventually they break," explains Ritesh Rihani, Vice President of Enterprise Banking at Galileo. "You've seen the number of outages we've had in the industry recently. That's all happening because they put duct tape upon duct tape." The pressure to modernize comes from multiple directions. Customer expectations have evolved toward integrated experiences and ease of use and operational risks multiply as the pool of COBOL programmers shrinks through retirement. Regulatory compliance becomes increasingly difficult with manual processes and fragmented systems. This podcast explores five critical dimensions of core modernization: balancing costs with competitive necessity, understanding operational and regulatory risks, implementing incremental transformation strategies, enabling product innovation, and unlocking the future potential of modern banking architecture.

How Temenos is leading banking forward through customer and partner insight

zack.miller@gmail.com (Tearsheet Studios) — Wed, 06 Aug 2025 08:00:26 +0000

Isabelle Guis understands the need for marketing to speak technology's language. With an engineering background, Guis sees her strength as Temenos’ Chief Marketing Officer in bridging the communication gap between technology innovation and the value it brings to customers. In a conversation at the Temenos Regional Forum Americas 2025 held May 28-30 in Miami, Guis explained that Temenos values customer centricity above all else. “There is this reliability, this expertise that’s needed to make sure you deliver,” she said. “And you innovate without compromising what you already have.” Guis also discussed how banks are investing in technology to stay competitive amid economic uncertainty, and why legacy systems can hinder that progress. She outlined paths that banks can take to modernize their core infrastructure, offering alternatives like the choice between cloud or on-premise solutions — or even module-specific upgrades. Guis also shared how Temenos’ new motto “Leading Banking Forward” captures the company’s vision for collective progress in the banking industry. Today’s podcast episode explores Temenos’ customer-centered perspective, the need for digital transformation in banking through modern infrastructure, and the company’s strategic vision of how it can emulate industry-wide progress and leadership.

'Value will accrue at the application layer': VanEck's Juan Lopez on crypto's infrastructure shift

zack.miller@gmail.com (Tearsheet Studios) — Wed, 06 Aug 2025 08:00:06 +0000

The infrastructure for crypto-native finance is maturing beyond proof-of-concepts into real financial products. Tokenized securities are moving from experimental pilots to regulated offerings, stablecoin infrastructure is becoming the backbone for 24/7 payment systems, and traditional fintech companies are quietly integrating crypto rails to improve settlement and unlock new capabilities. I'm joined by Juan Lopez, General Partner at VanEck Ventures, where he focuses on investments at the intersection of traditional finance and blockchain technology. Before joining VanEck, Juan was at Circle Ventures, giving him a front-row seat to how institutional-grade crypto infrastructure has developed. His portfolio includes companies building the regulated infrastructure enabling this shift from experimental to operational. Juan's perspective on where real value is being created—from tokenized equity platforms achieving regulatory approval to stablecoin routing systems—offers insight into how crypto infrastructure is becoming essential plumbing for modern financial services. We'll discuss what's driving adoption, where the next wave of exits will come from, and how fintech companies are integrating blockchain technology to improve their core business models.

How to serve customers better at the point-of-decision ft. Galileo’s CEO Derek White

zack.miller@gmail.com (Tearsheet Studios) — Thu, 31 Jul 2025 11:00:56 +0000

While co-branded credit cards have dominated consumer wallets for decades, a new option is emerging in the payments landscape. Co-branded debit cards represent an untapped opportunity for brands to deepen customer relationships while addressing the preferences of a generation that increasingly chooses debit over credit. Derek White, CEO of Galileo Financial Technologies, has been at the forefront of this shift. Under his leadership, Galileo recently powered Wyndham Rewards’ launch of what's being called the industry's first co-branded debit card in the US. "The opportunity is huge here, where we have customers that have a deep loyalty with the brand," White explained. The timing for this launch is strategic. 30% of customers are pulling out debit cards when making purchases at major travel and entertainment brands, "even though they're not getting rewards associated with it." This value gap represents millions of transactions where brands could be deepening customer relationships but aren't. Listen to this Tearsheet podcast episode with Derek White to learn about how co-branded debit cards are creating new monetization opportunities for brands, what consumer behaviors are driving this new product, and how the convergence of AI, blockchain, and quantum technologies might fundamentally change how money moves through payment systems.

How U.S. Bank is becoming the re-bundler of SMB financial services, ft. U.S. Bank’s Shruti Patel

zack.miller@gmail.com (Tearsheet Studios) — Wed, 30 Jul 2025 11:00:46 +0000

SMBs are drowning in a sea of disconnected financial tools, juggling separate platforms for banking, payments, accounting, and lending. Many business owners find themselves logging into five or six different systems just to manage their daily operations, creating inefficiency and driving up costs at a time when economic pressures are mounting. U.S. Bank's latest 2025 Small Business Survey shows that SMBs are looking to their FIs to collapse these various digital solutions into one integrated experience. "They are overwhelmed by the number of standalone software solutions which exist in the marketplace," explains Shruti Patel, Chief Product Officer for the Business Banking segment at U.S. Bank. "They would like to consolidate these so that they're not constantly juggling with multiple tools or playing mental gymnastics, all while streamlining costs." The survey data, drawn from approximately 1,000 SMB owners across the country with revenues up to $25 million, shows a clear trend toward viewing banks as comprehensive financial hubs rather than simple repositories for funds. SMBs are seeking integrated solutions that combine banking, payments, and software capabilities under one roof. Listen to this podcast to learn about U.S. Bank’s Shruti Patel is helping U.S. Bank position itself as the primary re-bundlers of financial services in the post-pandemic era.

How FIS and Episode Six are helping FIs expand their products into new markets

zack.miller@gmail.com (Tearsheet Studios) — Wed, 23 Jul 2025 11:00:26 +0000

Financial institutions are drowning in payment complexity. Between legacy systems, and the accelerating pace of change in how people pay, banks face a modernization crisis that threatens their competitive position. At the FIS Emerald Conference 2025, FIS announced a partnership with Episode Six which is designed to address these challenges head-on. Episode Six, an API-driven payments technology provider, will now be working with FIS to deliver a cloud-based, end-to-end digital payments platform. The collaboration brings together FIS's global scale and institutional relationships with Episode Six's modern, configurable payment infrastructure. The new partnership will allow FIs to scale beyond their local borders, without having to build new tech and processes from scratch. "We did some pretty hefty research over an extended period of time," said Rob Hudson, Head of International Banking, at FIS. "It became very apparent very quickly that Episode Six was the one that we wanted to work with. This was the standout opportunity for us, without doubt." John Mitchell, CEO and co-founder of Episode Six, emphasized the strategic nature of the partnership. "We've always envisioned that if we had a partner with the strengths and the scale of FIS, that our platform would be used in a much broader capacity," he said. "This partnership is going to enable us to present a solution that will allow all of our clients to innovate at scale." Listen to the podcast to learn what financial executives can do to navigate legacy system constraints surprisingly well, tackle global payment complexity to expand internationally, and implement progressive modernization without putting careers on the line. It's a conversation on practical strategies for overcoming institutional resistance to change while delivering the cloud-native solutions that modern banking demands.

The fintech comeback: Sheel Mohnot on why 'everything is fintech' and what's getting funded in 2025

zack.miller@gmail.com (Tearsheet Studios) — Wed, 23 Jul 2025 08:16:06 +0000

The fintech investment landscape is heating up again. After a challenging 2022 and 2023, early-stage funding is recovering, with companies focused on practical problems attracting serious investor interest. The shift is toward infrastructure, embedded finance, and AI applications that solve real workflow problems. Sheel Mohnot has been tracking this evolution from multiple angles. As co-founder of Better Tomorrow Ventures, he's raised $300 million across three funds focused on pre-seed and seed-stage fintech companies. His perspective comes from building and exiting—he founded FeeFighters, which sold to Groupon in 2012, and ran the fintech accelerator at 500 Startups. BTV's thesis centers on what Mohnot calls the "everything is fintech" trend—vertical SaaS companies that increasingly derive revenue from payments and financial services rather than software subscriptions. Toast exemplifies this shift, starting as restaurant point-of-sale software and now getting 83% of revenue from financial services. Today, we'll explore why Mohnot believes fintech is back, what types of companies are getting funded in 2025, and his view on AI in fintech—where it's working and where it's just hype.

How Petal founder Andrew Endicott proved alternative credit works, and what he's betting on next

zack.miller@gmail.com (Tearsheet Studios) — Wed, 16 Jul 2025 07:00:08 +0000

The credit industry is shifting how it evaluates borrowers. Traditional credit scoring has left over a billion people without access to financial services, but lenders are increasingly turning to alternative data—bank transactions, spending patterns, real-time financial behavior—to make more informed decisions about creditworthiness. Andrew Endicott has been at the center of this shift. As co-founder of Petal, he pioneered what they called “cash flow underwriting”—using real-time bank data alongside traditional credit reports to approve people for credit cards who would otherwise be turned away. The approach worked: Petal raised nearly $1 billion, proving that alternative underwriting isn’t just better for consumers—it’s good business.

KeyBank's Mike Walters on how SMB customer relationships are shifting from transactions to advice

zack.miller@gmail.com (Tearsheet Studios) — Thu, 10 Jul 2025 11:00:07 +0000

The traditional banking model for small and medium-sized businesses has reached an inflection point. Before banking centered on straightforward product relationships, like loans, deposits, and basic services. However, banks are evolving recognizing that their SMB clients need operational partners who understand the unique challenges of running a business while wearing multiple hats. KeyBank has embraced this evolution, positioning itself as a consultative partner for its SMB customers. Mike Walters, President of Business Banking at KeyBank, describes the bank's approach as fundamentally client-centered. "We try to center the client in every decision we make," Walters explains. "Our clients in the small business space are unique. We use the term owner-operator at KeyBank and we use it very intentionally, because these business owners, they don't just own the business, they run the business." This distinction shapes everything about how KeyBank serves its business clients. The bank has moved beyond traditional banking silos to create integrated service ecosystems that address the full spectrum of business operations. Now the bank focuses on understanding how money flows through a client's business and identifying opportunities to create efficiencies. The approach represents a broader industry trend toward comprehensive business partnerships, where banks want to use their central role in SMB operations to become strategic advisors and enablers for everything from cash flow optimization to operational efficiency.

How Wise captured 25% of Brazil's cross-border market

zack.miller@gmail.com (Tearsheet Studios) — Wed, 09 Jul 2025 08:03:23 +0000

While attention often focuses on developed markets, the most exciting fintech innovations are emerging where mobile technology, young digital-native populations, and gaps in traditional banking converge. These regions aren’t just adopting Western models – they’re creating entirely new paradigms that may eventually reshape global finance. Today I’m joined by Nadia Costanzo, Director of Banking for the Middle East, Africa, and Latin America at Wise. Nadia drives Wise’s expansion across these regions by building banking relationships, securing licenses, and navigating complex regulatory frameworks. Her background is uniquely valuable – before Wise, she worked with Kiva in Nairobi facilitating microfinance across Africa, contributed to the World Bank’s Universal Financial Access agenda, and worked directly with microfinance institutions in Paraguay. Today, we’ll explore how fintech evolves differently across emerging markets, examine key challenges, and discuss surprising innovations where traditional banking is limited. We’ll also consider what these developments mean for established financial institutions looking to engage with these dynamic markets.

Meet the AI lending officer: How algorithms are taking over credit decisions

zack.miller@gmail.com (Tearsheet Studios) — Tue, 01 Jul 2025 14:41:49 +0000

The traditional lending officer is facing their biggest disruption in decades. Gen AI is oozing into financial services quickly and deeply enough that it's already impacting how we evaluate credit risk and make lending decisions. This tension between human judgment and algorithmic precision is the latest focus in our ongoing AI series exploring how artificial intelligence is transforming financial services. Joining us are Jonathan Kolozsvary, Global Head of Small Business at Visa, who brings insights on how transaction data can unlock lending opportunities that traditional credit models miss. And Patrick Reily, co-founder of Uplinq and Malcolm Baldrige Award recipient, whose AI predictive models are already being used by the Federal Reserve. Together, they tackle a critical question: Are we witnessing the evolution of the lending officer, or are we approaching a future where algorithms handle what humans have done for generations? The answer will shape the future of lending and the broader relationship between technology and trust in financial services.

The Harmony Gap: Why banks lose $100M annually when fintech and legacy systems don't play nice

zack.miller@gmail.com (Tearsheet Studios) — Thu, 26 Jun 2025 11:01:04 +0000

Financial institutions are losing an average of $100 million annually due to a fundamental disconnect between fintech innovation and traditional financial systems. A phenomenon FIS and Oxford Economics have termed the "Harmony Gap." "We hear a lot from people about the challenges and friction they see in the money lifecycle," explains FIS CTO, Firdaus Bhathena, at his firm’s Emerald Conference at the end of May in Orlando, Florida.. "But we had not been able to quantify that." His firm’s collaboration with Oxford Economics is changing that, providing hard data on what many suspected but couldn't measure. The new research, based on surveys of 1,000 executives across the US, UK, and Singapore, reveals that disharmony in the financial system is a costly reality affecting everything from cybersecurity to operational efficiency. As Margaux McLoughlin of Oxford Economics puts it, "When there are disruptions across the money lifecycle, that's what we call disharmony." Understanding what the research describes as a Harmony Gap requires examining how the modern financial ecosystem operates, why the human cost extends far beyond corporate losses, and what organizations can do to bridge the disconnect between innovation and implementation. The path forward requires a rethinking of how financial institutions approach systemic challenges in an interconnected world.

How to get started with embedded lending and drive revenue

zack.miller@gmail.com (Tearsheet Studios) — Wed, 25 Jun 2025 10:06:40 +0000

Embedded finance offers a chance for fintech firms, vertical SaaS companies, and marketplaces to drive revenue growth and build a sticky offering. Always strapped for cash and with their owners juggling multiple responsibilities at once, small businesses increasingly adopt vertical SaaS platforms to run their operations, the demand for integrated banking, payments, and lending solutions continues to accelerate. For firms that can successfully navigate this landscape, embedded finance offers a powerful pathway to differentiation in an increasingly competitive market while addressing the critical financial needs that traditional institutions have struggled to meet effectively. On the show today, I am joined by three leaders in the space sharing insights into what it takes to succeed: Yoseph West, Co-founder and CEO of Relay which is a digital business banking platform serving SMBs, Sol Lax, CEO of Revenued, a leader in revenued-based financing and Caleb Avery, founder and CEO of Tilled, a modern embedded payments provider for software companies Tune in to hear us plot the market shift from embedded payments to lending, underwriting challenges for thin-file customers, and strategic partnership models that create comprehensive solutions for small businesses. In this episode we will examine two case studies: how Relay and Tilled are implementing embedded lending in their platforms through their work Revenued and sketch out a plan for fintechs that want to mature their embedded finance offerings to offer sophisticated products like lending and working capital to their SMB customers. If you’re a platform serving SMBs, embedded lending isn’t just a feature – it’s a way to make your product indispensable. As customers look for financial solutions that meet them where they are, platforms that deliver seamless, flexible capital access will win. This episode is a must-listen for any SaaS, fintech, or ma

How Citizens is using Value-Added Services and a command center approach to empower SMBs

zack.miller@gmail.com (Tearsheet Studios) — Mon, 23 Jun 2025 11:00:14 +0000

Traditional banking services alone aren't enough to serve the diverse needs of small and medium-sized businesses. Banks need to go further and think of their digital footprint as a launching pad for SMB owners by adding value-added services. On the show today, Mark Valentino, President of Business Banking at Citizens, and Taira Hall, EVP and Head of Enterprise Payments at Citizens, join to talk about how the bank is building more comprehensive solutions through value-added services for SMB customers. Valentino and Hall dive into how the bank is moving away from a purely transactional relationship to become more of a command center for SMB owners, highlighting how SMB owners' needs and the broader focus on CX is leading this change. Tune into the show to explore how traditional FIs can evolve to become modern digital hubs for SMB owners through the addition of Value Added Services like spend management, a focus on APIs, and a robust partnership-first strategy. Both Valentino and Hall provide a strategic overview and practical examples – melding the worlds of business banking and payments together to forge a powerful narrative about how Citizens is evolving to meet the changing expectations of small business owners.

How Temenos is co-creating AI products with banks, not just for them

zack.miller@gmail.com (Tearsheet Studios) — Fri, 20 Jun 2025 11:45:14 +0000

Nine months into her role as Chief Product and Technology Officer at Temenos, Barb Morgan is focused on a simple principle when it comes to product strategy: quality over quantity. "We want to build less, but build it better," Morgan said during a conversation at the Temenos Regional Forum Americas 2025 held May 28-30 in Miami. Temenos' approach centers on co-creating meaningful solutions with bank customers rather than rushing to market with multiple products. Morgan emphasized that the company is "really focused on making sure that whatever we put out there is meaningful," as the industry navigates what she calls the "AI hype curve." Morgan's insights reveal why many banks struggle with AI adoption despite the technology's promise. The real barriers aren't about computing power or algorithms — they're messier problems involving decades-old data systems that were never designed for AI and organizational cultures that haven't caught up to the pace of technological change. Her conversation also detailed Temenos' bet on bringing innovation closer to customers, such as through its new hub in Orlando designed for co-creation, and why the company is taking a strategic and deeply integrated approach to AI that enables banks to deploy AI-powered solutions faster and safer.

“Take a hard look at your current ecosystem. If you were to double the assets under your management today, would your current ecosystem sustain that growth?” Finastra’s Kristen Lista, on what FIs need to do to compete in SME lending

zack.miller@gmail.com (Tearsheet Studios) — Tue, 17 Jun 2025 11:00:33 +0000

Non-bank financial institutions (NBFIs) are capturing more and more market share in SME lending by leveraging technology to offer quicker lending solutions. This puts pressure on FIs to evolve their approaches while managing costs and improving service quality. Finastra’s Principal Product Manager Kristen Lista joins the Tearsheet podcast today to discuss the most critical areas where FIs need to focus: consolidating technology to improve efficiency, decreasing the time between application and access to funding, enhancing back-office operations, and creating more client-centric experiences. Lista offers a valuable look inside the complex web of challenges that FIs are facing when trying to improve the SME lending products. From technology integration strategies to practical advice on process improvement, Lista offers an actionable blueprint that can help FIs better compete in the SME lending space, driving growth and customer loyalty.

From ACH to stablecoins: Ben Milne's infrastructure evolution

zack.miller@gmail.com (Tearsheet Studios) — Tue, 17 Jun 2025 07:13:16 +0000

Welcome to the Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I'm Tearsheet's editor in chief, Zack Miller. As digital assets mature beyond speculation into practical financial tools, forward-thinking institutions are evaluating how programmable money fits into their product strategies. For traditional banks, it's an opportunity to modernize settlement systems and explore new revenue streams. For fintechs, it's about embedding digital asset capabilities without the regulatory and technical overhead. Today, I'm joined by Ben Milne, whose journey from founding payments innovator Dwolla to now leading Brale offers interesting insights into the evolution of financial infrastructure. At Dwolla, Ben built an API-first payments platform that helped modernize ACH transfers. Now with Brale, he's creating the infrastructure layer for compliant stablecoin issuance across multiple blockchains. What's particularly notable about Ben's transition is how it reflects broader shifts in the financial services landscape—from renovating legacy rails to building entirely new ones. In our conversation, we'll unpack how this experience shapes Brale's approach to working with both incumbents and challengers, the strategic considerations for institutions exploring stablecoins, and what product and strategy executives should be planning for in this rapidly evolving space.

“Embedded investing isn't a feature — it’s a platform”: DriveWealth’s Harry Temkin on the future of investing

zack.miller@gmail.com (Tearsheet Studios) — Wed, 11 Jun 2025 07:03:46 +0000

The financial services industry is undergoing deep technological change. API-first architectures are creating new possibilities for integration. Digital platforms are democratizing access to investing. Artificial intelligence is personalizing wealth management. Digital-first brokerages are redefining what's possible. Global investing barriers are falling. Traditional firms are navigating complex digital transformations. And infrastructure companies are scaling to meet growing demands. To help us understand these critical trends, we're joined by Harry Temkin, Chief Digital Officer at DriveWealth. DriveWealth is at the forefront of embedded investing technology, powering fractional trading and digital investment experiences for partners across the globe. As CDO, Harry leads the company's technology strategy and digital innovation initiatives, bringing decades of experience in financial technology.

Inside Mastercard's push to move LATAM's small retailers beyond cash

zack.miller@gmail.com (Tearsheet Studios) — Tue, 03 Jun 2025 18:23:25 +0000

Tearsheet is excited to launch 4dFI Capital Partners, an exclusive group of out-of-the-box builders and investors building a community to invest in the next wave of fintech startups around the world. If you are an accredited investor and want to learn more, sign up here Across Latin America, we’re witnessing a massive shift as regions traditionally dominated by cash transactions begin embracing digital financial tools. This transition represents more than just technological adoption—it’s creating new economic opportunities, enhancing financial inclusion, and building resilience against growing cybersecurity threats. The numbers tell a compelling story: a $448.4 billion digital payment opportunity exists across Latin America, the Caribbean, and the U.S. With nearly 12 million small retailers processing $362 billion in B2C sales — 43% still in cash —a nd 90% of B2B transactions between small retailers and suppliers handled through traditional methods, we’re looking at a financial transformation that’s just beginning. Today, I’m joined by someone at the forefront of this transition. Walter Pimenta serves as Executive Vice President of Commercial and New Payment Flows for Mastercard Latin America, where he’s leading initiatives to expand SME acceptance solutions, scale enablement through strategic partnerships, and strengthen cross-border payment capabilities. Walter’s team is also tackling another critical trend: the growing cybersecurity challenges facing SMEs, with recent research showing 46% of small businesses have experienced cyber-attacks, resulting in bankruptcy for nearly 1 in 5 affected companies.

Will PayPal’s cash flow tools make capital access easier for SMBs? ft. Michelle Gill

zack.miller@gmail.com (Tearsheet Studios) — Wed, 07 May 2025 07:17:25 +0000

As General Manager of PayPal’s Small Business and Financial Services Group, Michelle Gill is responsible for bringing together the products and services that help small business owners run and grow their business. She is my guest for this episode of the Tearsheet Podcast. Michelle brings deep financial expertise and experience building platforms and tools that help customers manage their finances to her role on PayPal’s Senior Leadership Team. Michelle was previously Senior Vice President of Intuit’s business money management, payment, and banking service, QuickBooks Money Platform. Prior to Intuit, Michelle successfully integrated and expanded SoFi’s lending business as General Manager and Executive Vice President of Consumer Lending and Capital Markets. Drawing on her early career experience as a Managing Director and Partner at Goldman Sachs, Michelle also served as SoFi’s Chief Financial Officer before moving into the product leadership role. Before that, Michelle spent a decade leading the U.S. Assets business for global investment firm Sixth Street Partners. Given her career and experiences, Michelle brings a broad view of fintech innovation. She focuses on user-centered solutions. At PayPal, she leads efforts to help entrepreneurs navigate the complicated web of financial tools they often depend on. “The preponderance of [small businesses] use greater than 15 tools to run their business,” she shares. “What they got into business for is the passion… and yet they end up spending more time on things that are not what they love.” Our conversation explores how PayPal is actively trying to reduce that complexity. It does so not by offering more tools, but by making the ones they already use work better together. Gill outlines the strategy behind PayPal’s cash flow-based lending model and how it fits within their open ecosystem, whether it’s digital lending, embedded finance, or leveraging open banking.

How Citizens Bank is building GenAI with a five-year vision, not just quick fixes

zack.miller@gmail.com (Tearsheet Studios) — Tue, 06 May 2025 11:00:55 +0000

Investment in data is the hallmark of successful Gen AI implementations, according to Citizens’ Chief Data and Analytics Officer, Krish Swamy. Giving us a system wide view of how Citizens is leveraging Gen AI, Swamy joins the podcast to talk about harnessing the power of data to drive decision-making, enhance customer experiences, and navigate the complexities of digital transformation in the banking sector. Our conversation delves into the challenges and opportunities of building a data-driven culture within a traditional banking environment, and how Citizens is positioning itself at the forefront of financial innovation through strategic analytics initiatives. Swamy, who also heads the firm’s Generative AI Council, shares his vision for the future of data in banking and the tangible ways Citizens is turning data insights into meaningful actions that benefit both the institution and its customers.

Venture Capital’s shift from consumer fintech to infrastructure ft. Ryan Falvey

zack.miller@gmail.com (Tearsheet Studios) — Wed, 30 Apr 2025 07:00:16 +0000

In today’s financial landscape, innovation is more than just a buzzword—it’s a driving force separating industry leaders from those left behind. Finding, nurturing, and scaling the right technologies has become a specialized skill set all its own. Joining us today is Ryan Falvey, Co-Founder and Managing Partner of Restive. Ryan has spent the last 15 years at the forefront of identifying and championing market-changing innovations in financial technology. His track record speaks for itself—since 2015, he’s invested in 40 early-stage fintech firms that have collectively grown to represent approximately $3 billion in aggregate equity value. Before founding Restive, Ryan led the development of the Financial Solutions Lab, a groundbreaking partnership between JPMorgan Chase and the Financial Health Network. His experience also includes developing payment solutions with leading tech companies at Silicon Valley Bank and serving as Strategy Group Lead at Enclude Solutions, where he oversaw global strategy consulting for mobile-enabled financial products. “We’re not investing in fintech apps — we’re investing in infrastructure,” Falvey explains early on. That distinction underscores a larger trend he sees in the market: a move away from flashy consumer-based apps toward foundational financial APIs. It also focuses on backend tooling and embedded finance capabilities. Falvey’s insights aren’t theoretical — they’re rooted in his day-to-day decisions as an investor. At Restive, he’s helping startups through early product development. He emphasizes practical scalability and regulation-ready business models. “You don’t build a consumer business by launching an app anymore,” he says. “It’s not about the app — it’s about access, context, and integration.” From fintech regulation to platform economics, Falvey shares grounded wisdom. He focuses on how successful startups are navigating today’s uncertain investment landscape. What’s emerging is a more nuanced strategy for funding — one that prioritizes durability over disruption.

Serving the global majority: How Tala is reshaping financial inclusion in Latin America and beyond

zack.miller@gmail.com (Tearsheet Studios) — Wed, 23 Apr 2025 05:42:10 +0000

In a world where financial inclusion remains one of our generation's greatest challenges, emerging markets are becoming the true laboratories of fintech innovation. While developed economies iterate on convenience, companies operating in regions with limited banking infrastructure are fundamentally reimagining what financial services can look like from the ground up. Today, we're diving into this fascinating intersection of opportunity and impact with David Lask from Tala. Tala has built a reputation as a pioneer in financial inclusion, providing access to credit and financial services to underbanked populations across multiple continents. David joins us fresh from the Fintech Americas Miami conference to share his insights on the rapidly evolving Latin American fintech landscape. We'll explore how the unique challenges and opportunities in this region are fostering innovative approaches to financial services, with a special focus on Mexico as a compelling case study of fintech evolution.

"Taking the hardest path in payments": How Adyen's AI platform boosts conversion and reduces fraud

zack.miller@gmail.com (Tearsheet Studios) — Tue, 15 Apr 2025 19:28:52 +0000

Artificial intelligence is rapidly transforming the financial landscape, creating new opportunities for innovation while reshaping consumer expectations around speed, personalization, and security. As financial institutions and businesses race to integrate AI capabilities, we're witnessing a fundamental shift in how payments are processed, how fraud is detected, and how financial services are delivered. Today, I'm delighted to welcome Davi Strazza, President of North America at Adyen, a global financial technology platform that's at the forefront of this AI evolution. Davi leads Adyen's North American operations, where the company is leveraging artificial intelligence as a strategic growth driver through initiatives like their recently launched Uplift platform. In our conversation today, we'll explore how Adyen is implementing AI solutions to enable hyper-personalization, enhance fraud detection, and automate complex financial processes. Davi will also share his insights on the state of real-time payments in the US and what companies need to do to make instant payments a more fundamental part of our commerce and financial system.

Zip CEO Joe Heck: Expanding financial inclusion through Buy Now, Pay Later innovation

zack.miller@gmail.com (Tearsheet Studios) — Fri, 11 Apr 2025 06:59:03 +0000

Joe Heck, CEO of Zip, joins me on the Tearsheet Podcast to discuss the evolution of alternative payment solutions in the US. Zip is a leading Buy Now, Pay Later (BNPL) company. Joe shares lessons from his 20 years of experience in consumer lending and fintech payment solutions. Heck brings insights from his previous leadership roles at Happy Money and TrueStage. Heck’s background plays a role in his approach to financial services. Growing up in Flint, Michigan, he understands the challenges of paycheck-to-paycheck living. “There’s a consumer base largely ignored by traditional financial systems,” Heck explains. “FICO doesn’t serve them well, but they have a great ability to pay.” Zip focuses on providing financial flexibility to these consumers. It offers structured repayment plans that don’t push them into revolving debt. According to Heck, “We win when the consumer wins. If they can’t pay us back, our model doesn’t work either.” The Big Ideas BNPL’s Growth Potential in the US – With only 2% of payments currently in BNPL, there is significant room for expansion compared to markets like Europe and Australia. Financial Inclusion for Underserved Consumers – Zip is focusing on consumers who don’t fit traditional credit models but have strong repayment potential. “We provide access when and where they need it,” says Heck. Strategic Partnerships Drive Accessibility – Integrations with Stripe and retailers like GameStop are making BNPL more available to consumers. A More Transparent Alternative to Credit Cards – Unlike credit cards that encourage revolving debt, BNPL provides structured, predictable payments. “We’re not built in a way that traps consumers in debt,” Heck emphasizes. The Role of Cash Flow Management in BNPL’s Future – Zip is investing in tools that help consumers manage unpredictable income streams, ensuring more repayment flexibility.

How Citi is enabling banks to drive growth and remain competitive in a 24/7 world

zack.miller@gmail.com (Tearsheet Studios) — Mon, 07 Apr 2025 00:00:00 +0000

Fintechs have pushed the industry to focus on client experiences, and our show today digs into how traditional banks can collaborate with global banks like Citi to improve experiences like cross border payments for their clients. In our conversation today, Aashish Mishra, Citi’s Global Head for Banks sales and North Asia head for Financial Institutions and Fintech Sales, Treasury & Trade Solutions (TTS), dives into how the bank's 24/7 US dollar clearing business, as well as solutions like Worldlink ® Payment Services, are helping the firm’s bank clients deliver modern and intuitive experiences to its customers. Aashish Mishra is part of Citi’s Services’ business based in Hong Kong, and he performs two roles: he's responsible for TTS sales and strategy for all FI client segments in North America, which spans banks, fintechs, insurance, asset managers, and broker dealers. And for the bank segment globally, his focus is on delivering the entire TTS solution set to his clients, including cash clearing, global payments and receivables, Banking as a Service, liquidity solutions and trade solutions. Prior to this role, he spent extensive time in Citi’s Security Services business, including as the Head of Custody Product and Head of Direct Custody and Clearing business for Asia. Aashish has extensive experience in the financial institution space, and has worked closely with senior clients, regulators, and financial market infrastructure during his career. Today, he brings that insight from multiple arms of the vast Citi footprint to the show to explore how banks can push their products further without burdening their teams with technical lift, as well as where he expects client expectations to go in the future.

From startup to acquisition: Zuben Mathews on Brigit's social impact journey

zack.miller@gmail.com (Tearsheet Studios) — Wed, 02 Apr 2025 00:00:00 +0000

In late January, Upbound Group completed its acquisition of Brigit, a leading financial health technology company. This deal brings together Upbound’s established brands like Rent-A-Center and Acima with Brigit’s digital platform that offers earned wage access, credit building products, and financial wellness tools. The combined company now serves approximately four million active customers, including Brigit’s impressive base of over one million paying subscribers. I’m thrilled to welcome Zuben Mathews, co-founder of Brigit, to our podcast today. Zuben continues to lead the Brigit team as they now operate as a business segment within Upbound Group, alongside his co-founder Hamel Kothari. In our conversation today, we’ll explore the strategic vision behind this acquisition, how Brigit’s technology will enhance Upbound’s existing services, and what this means for millions of Americans who have been traditionally underserved by mainstream financial institutions. We’ll also discuss how Brigit’s proprietary cash flow underwriting technology and machine learning capabilities might change the landscape for accessible financial products.

The story of Erica, Bank of America’s homegrown digital assistant

zack.miller@gmail.com (Tearsheet Studios) — Mon, 31 Mar 2025 00:00:00 +0000

Banking digital assistants may be common now, but in 2017, Bank of America was one of the first to be thinking about how they make the firm’s customer experience more powerful. The answer was an in-house build of a digital assistant that required the firm to hire PhDs in linguistics and build a collaboration structure that could facilitate teams from different departments. In 2024, BofA clients interacted with Erica 676 million times bringing its total interactions since its launch in 2018 to 2.5 billion. On the show today, Hari Gopalkrishnan, who leads Bank of America’s Consumer, Business & Wealth Management Technology team, joins us to tell the tale of how the firm built its industry-leading digital assistant, Erica. Hari shares how the firm has gradually expanded Erica’s remit beyond consumer banking to also include multiple lines of business and individual and corporate clients across the firm’s global footprint. It's a dive into what it takes to push the boundaries in this industry, how the firm thought about development, testing, expansion, and how Erica’s capabilities can be expanded with the recent innovations of Gen AI.

Self Financial’s approach to expanding credit access through product innovation with Julie Szudarek

zack.miller@gmail.com (Tearsheet Studios) — Mon, 24 Mar 2025 00:00:00 +0000

Financial inclusion remains one of the most pressing challenges in today’s economy. Millions of Americans struggle to access basic financial services simply because they lack a credit history or have damaged credit. This gap in our financial system doesn’t just create inconvenience – it perpetuates cycles of financial inequity that can last generations. In my latest episode of Tearsheet, I sat down with Julie Szudarek, CEO of Self Financial, a company working at the forefront of this challenge. Julie took the helm at Self just over a year ago, bringing over 20 years of leadership experience from companies like Groupon and Atida. Though fintech is a new arena for her, Julie’s expertise in building customer-focused businesses is exactly what’s needed to tackle financial inclusion at scale. “I’ve never done fintech before,” Julie told me candidly. “But what I bring to the table is a deep understanding of how to build customer-focused businesses that are sustainable over time.” Her mission at Self aligns well with the broader movement toward more accessible financial services: “We are only here to make outcomes for our customers better than before they started working with Self.” The Big Ideas Decoupling Secured Credit Cards for Easier Access. “We decoupled the secured card so customers don’t need a credit builder account first. It’s about reducing barriers.” The Power of Low Deposit and No Credit Check. “Our deposit is $100, and for many, there’s no hard credit check. That makes it much less intimidating for people facing rejection.” Customer Education as a Core Focus. “About 65% of our customers say they had no financial education. So we focus on teaching them about interest, compounding, and managing credit.” Expanding Product Offerings to Keep Customers Engaged. “We were limited in what we offered. Now we’re focusing on products that meet customers where they are and help them keep growing financially.” Partnerships to Reach More Communities. “Regions Bank and Pathway Homes are some of our key partners — together, we’re helping more people build credit who might otherwise be left out.”

The financial system is moving on-chain: How Coinbase is bridging traditional banking and crypto

zack.miller@gmail.com (Tearsheet Studios) — Tue, 18 Mar 2025 00:00:00 +0000

Blockchain technology continues to bridge the gap between traditional finance and the digital asset ecosystem. Today, we're witnessing a fascinating convergence where decentralized finance protocols are being integrated into user-friendly platforms, making sophisticated financial tools accessible to everyday users. One of the most significant developments in this space is the ability to leverage crypto assets without selling them—unlocking liquidity while maintaining exposure to potential appreciation. Coinbase has recently launched a groundbreaking product that allows customers to borrow USDC against their Bitcoin holdings in under a minute, all powered by onchain lending protocols. I'm delighted to welcome Max Branzburg, Vice President of Product at Coinbase, to discuss this innovation. As a key architect of Coinbase's product strategy, Max has been instrumental in developing solutions that make crypto utility more tangible for millions of users. Today, we'll explore how Bitcoin-backed loans represent a pivotal step in Coinbase's vision for onchain financial services, the technical infrastructure making this possible, and what this means for the future of personal finance.

The new economics of wealth management: Stirlingshire's advisor-first approach

zack.miller@gmail.com (Tearsheet Studios) — Tue, 11 Mar 2025 00:00:00 +0000

Today we're examining the evolution of asset management and financial advisory services. As technology transforms how we invest and manage wealth, we're exploring the critical balance between innovation and human expertise. We'll discuss how disruption in the advisory space creates new opportunities for clients and advisors alike, why personal relationships remain essential even as AI expands, and how progressive firms are reimagining compensation models. We'll also look at the hybrid approach resonating with next-gen clients who want both self-directed tools and personalized guidance. Joining me to explore these topics are Steven Woods, CEO and Founder of Stirlingshire, and Jim Webb, VP of Investments. Their firm is working to remake the asset management model for both clients and advisors. Today, we'll hear about their non-traditional approach to wealth management, how they're balancing technology with the human touch, and why this matters for both financial professionals and their clients. The Big Ideas: Challenging the Traditional Asset Management Fee Structure: Stirlingshire allows advisors to keep 100% of asset management fees and commissions with zero expenses. This flips the traditional model where firms take substantial cuts from advisor earnings, creating better economics for both clients and advisors. The "Advice on Demand" Innovation: Stirlingshire offers a hybrid model between self-directed investing and full management. Clients can self-direct at zero commission but access professional advisors when needed, with advisors only getting paid when their specific recommendations result in profits. Technology-Enabled Compliance and Remote Work: By embedding compliance directly into their technology systems, Stirlingshire eliminates the need for physical offices and reduces compliance staffing. This automation significantly reduces overhead costs while increasing advisor flexibility. AI as an Efficiency Tool, Not a Replacement: Rather than replacing human advisors, Stirlingshire uses AI to make them more efficient. Their AI tools quickly analyze portfolios and provide market context, saving advisors time without making actual investment decisions. Disrupting the Industry to Drive Broader Change: Stirlingshire aims to force change across the entire financial advisory industry, similar to how Robinhood disrupted commission structures. Their goal is to push other independent firms toward more advisor-friendly compensation models by demonstrating a successful alternative approach.

Beyond Borders: The 4dFI fintech investment series, Part 1

zack.miller@gmail.com (Tearsheet Studios) — Thu, 06 Mar 2025 00:00:00 +0000

Register to 4dFI's mailing list to stay updated on our investment opportunities, events, news: https://www.library.tearsheet.co/4dfi Today I'm excited to introduce you to 4dFI Capital Partners — or as we call it, 4dFI — a new initiative bringing together the worlds of traditional finance and innovative fintech. In this episode, we're diving into three key themes reshaping global financial services: Hidden Innovations in Emerging Markets As Russell Weiss points out, "There's some incredible innovations happening in emerging markets, and oftentimes investors and executives in the US and Europe are sort of missing it. They're not hearing those stories. They're not getting access to that technology." We'll explore how companies like Nubank are just the beginning of a wave of groundbreaking financial solutions coming from regions outside traditional financial centers. From Fintech to Impact Investment In regions where traditional credit infrastructure is lacking, services like earned wage access aren't just convenient—they're transformative. Josh Liggett explains how these solutions are "where a FinTech turns from a FinTech company to also an impact investment," creating both financial returns and meaningful change in consumers' lives. Building a Value-Add Investment Community Beyond just providing capital, Fortify aims to create a network of experienced professionals who can offer expertise, connections, and insights to emerging market fintechs. This collaborative approach benefits everyone involved—investors gain exposure to new models, startups receive valuable guidance, and ultimately, consumers get better financial products. I'm joined today by my partners Russell Weiss and Josh Liggett, who bring complementary skills in data science, VC deal-making, and fintech expertise to this exciting venture. Whether you're a financial industry veteran looking for new horizons or simply curious about where global fintech is heading, today's conversation offers valuable insights into the future of finance beyond traditional markets. Let's dive in.

Smart Tech, Smarter Loans: Michelle Tran on fintech’s impact on student debt

zack.miller@gmail.com (Tearsheet Studios) — Wed, 05 Mar 2025 00:00:00 +0000

Student debt is a major financial challenge, with U.S. borrowers owing over $1.8 trillion in total. This ongoing debt burden affects millions of individuals. Traditional financial institutions are looking for ways to solve this issue. Meanwhile, fintech innovations are providing solutions. These new technologies are helping to address the problem. Michelle Tran is the head of commercial at Summer and founder of NYC Fintech Women. She joins the Tearsheet podcast to discuss how fintech is streamlining student loan repayment. The conversation focuses on the improvements fintech brings to the process, highlighting how fintech is powering a new generation of financial wellness programs. “For many borrowers, navigating student loan repayment is like filing taxes on their own,” Tran explains. “The process is complicated. And a simple mistake can lead to missed opportunities for debt relief.” Tran highlights how fintech platforms like Summer act as a “TurboTax for student loans,” helping borrowers complete complex federal student loan relief applications accurately. There is a growing demand for employer-sponsored loan repayment benefits. Fintech solutions are helping connect employees with the right programs. These solutions play an essential role in meeting that demand. The Big Ideas * Employers Are Becoming Key Players in Student Debt Relief. “Graduates are considering job offers carefully. They are looking for companies that offer student loan repayment assistance. This benefit is becoming a key factor in their decision-making.” * Federal Loan Forgiveness Programs Are Underutilized. “Many borrowers don’t realize they qualify for loan forgiveness. Fintech is helping them access these benefits more efficiently.” * Technology Reduces Errors in Loan Applications. “Automation ensures borrowers submit accurate applications, increasing approval rates for federal programs.” * Fintech Solutions Are Expanding Beyond Student Loans. “Managing debt holistically creates a more secure financial future. The debt includes credit cards and retirement savings.” * Personal Finance Education is a Critical Component. “Helping borrowers understand their financial options leads to better decision-making and long-term stability.”

Ramp’s AI-powered push to automate expense management ft. Geoff Charles

zack.miller@gmail.com (Tearsheet Studios) — Wed, 26 Feb 2025 00:00:00 +0000

I recently sat down with Geoff Charles, Chief Product Officer at Ramp, to discuss the rapidly evolving landscape of corporate finance technology. Recently promoted to CPO, Geoff has been with Ramp since its early days when the company was just 10 people. His journey from product manager to C-suite exemplifies Ramp’s growth trajectory as a company now hiring hundreds of employees annually. The Big Ideas AI as a Financial Co-Pilot: “The average employee doesn’t have a degree in finance… our models are more accurate than the average employee,” Charles explains, highlighting how AI can democratize financial expertise. Unified Financial Operations: “Why is it that you see receipts for expenses in one product and accounts payable in another? Makes no sense,” says Charles about the fragmented finance software landscape Ramp aims to consolidate. Selective Automation: Charles emphasizes their approach to automating what makes sense: “Where there’s high criticality and where humans are very good at it… we need to be very cautious with where we apply AI.” Financial Data as an Asset: “Because everything happens on Ramp… we know with your location, we know the receipts, we know the actual request,” Charles explains how comprehensive data improves AI accuracy. Self-Disruption as Strategy: “If you don’t build the thing that kills you, someone else will,” says Charles on Ramp’s proactive approach to reimagining their products in an AI-first world. “We’re continuing to really push leaders to build capabilities with their reporting lines,” says Charles. “It’s important for us to continue scaling and promoting internally, which is a big part of our culture at Ramp — to find early talent, to mentor them, to grow them, and to give them unlimited growth potential within the company.” Geoff describes the product culture at Ramp as “intense,” with product managers serving as the “pace keepers and pacemakers” of the tech organization. This culture of speed, decision-making, and customer-centricity has helped position Ramp as an innovator in the corporate finance space. The conversation explores how AI is transforming traditional expense management, the strategic importance of owning transaction data, and the opportunities in automating financial workflows.

Citi’s Chafic Haddad on how Citi chooses fintech clients and builds partnerships

zack.miller@gmail.com (Tearsheet Studios) — Tue, 25 Feb 2025 00:00:00 +0000

Choosing the right bank to work with is a skill that fintechs need to develop and nurture. When the right choices are made, fintechs can find themselves working with banks that not only provide a strong compliance and banking layer but also have opportunities for the fintech to plug into the bank’s infrastructure and become more than just a client. This evolving landscape is what Citi’s Global Head of Fintech Sales, Chafic Haddad, provided insight on when I spoke to him. He dove into the maturity cycle that fintechs go through by starting from offering basic products like accounts and then eventually growing enough to explore capital markets and investment banking. He also described how Citi helps these fintechs spread their wings beyond their local markets. Listen to today’s conversation to learn from Haddad’s experience about how the bank helps fintechs grow sustainably and eventually spread their wings beyond their local geographies and the way Citi organizes and manages these relationships.

How Lower uses technology and humans to simplify mortgage lending ft. Dan Snyder

zack.miller@gmail.com (Tearsheet Studios) — Wed, 19 Feb 2025 00:00:00 +0000

I recently sat down with Dan Snyder, CEO and co-founder of Lower, to discuss the evolving landscape of mortgage lending. Lower was founded in 2014 and has grown into one of the largest venture-backed home lenders in the United States. Dan is driven by a commitment to simplifying the home financing process through technology. “We’re not just building a mortgage company,” says Snyder. “We’re creating a comprehensive platform. It will make homeownership more accessible, especially for younger buyers.” Fresh off its acquisition of NeatLabs, Lower’s new proprietary platform, LowerOS, promises to reduce the cost and complexity of mortgage origination. Snyder bootstrapped his startup and went on to raise Ohio’s largest Series A, showcasing resilience and vision. His journey offers valuable lessons in leadership and innovation. It also highlights how to navigate the challenges of a volatile housing market. The conversation explores key topics like the role of venture capital in professionalizing a business, the strategic importance of owning a full tech stack, and the opportunities presented by serving next-generation home buyers. The Big Ideas Venture Capital as a Catalyst for Growth. “Raising money allowed us to professionalize the business and access top talent,” says Snyder. He highlights the impact of Accel’s investment. The Strategic Importance of Owning Technology. “We didn’t want to rely on third-party software that didn’t align with our goals,” Snyder notes. LowerOS is the result of this strategic decision. Challenges in Serving Next-Gen Buyers. “The average income for first-time buyers is over $200,000. We’re working to bring that down by improving affordability,” Snyder explains. Adapting to Market Volatility. Snyder highlights that inventory and interest rates are major challenges. But, technology can help reduce costs and improve efficiency. Combining Tech with Human Expertise. “Even with digital tools, a 15-minute conversation can save hours of back-and-forth,” says Snyder. He emphasizes the value of human interaction.

‘Lightning in a Bottle’: Frank Chaparro on Stablecoins and Tokenization’s Promise

zack.miller@gmail.com (Tearsheet Studios) — Wed, 12 Feb 2025 00:00:00 +0000

In this episode of the Tearsheet Podcast, I sit down with Frank Chaparro, the host of The Scoop and Director of Special Products at The Block. He has years of experience at the intersection of digital assets and Wall Street. Frank offers a unique perspective on blockchain technology and tokenization, highlighting their early impact on financial markets and projecting out where Web3 may lead for financial services. “When you’re managing trillions of dollars, offering new, innovative products isn’t just risky. It’s a massive operational challenge,” says Chaparro. His insights explain why tokenization, stablecoins, and blockchain technology are growing in popularity. These innovations overcome challenges faced by traditional financial institutions, offering new solutions and efficiencies in the financial sector. Frank explores how stablecoins bridge decentralized finance and traditional systems. For example, he explores the challenges of institutional investment in crypto ETFs. His analysis covers the complexities of this fast-evolving space. The Big Ideas Tokenization could revolutionize industries by making processes more efficient. Frank highlights its application in property transactions. He says, “Tokenizing deeds could bring unprecedented efficiency to a traditionally slow process.” Stablecoins are enabling seamless transactions between traditional and decentralized finance. “It’s just so damn easy to send stablecoins compared to alternatives like PayPal,” says Frank. Despite regulatory and operational hurdles, major banks are inching closer to crypto adoption. Frank predicts, “By 2025, we’ll see wealth management portals opening up to these assets.” Regulatory clarity remains a double-edged sword. Frank explains, “Banks fear the potential repercussions of engaging with digital assets. Even when there’s no explicit rule against it.” Meme coins and NFTs hint at a future where culture and finance intersect. Frank calls it “extracting value out of humor,” a concept that could reshape how we view digital assets.

Temenos CPTO Barb Morgan on measuring ROI, step by step modernization, and AI-enabled banking

zack.miller@gmail.com (Tearsheet Studios) — Tue, 11 Feb 2025 00:00:00 +0000

Banks have a challenging time responding to technological leaps like AI primarily because of their compliance-comes-first approach. Financial institutions must also manage the technological debt of their legacy systems when approaching modernization. On this episode of the Tearsheet Podcast, Temenos Chief Product and Technology Officer, Barb Morgan, offers a refreshing perspective on how financial institutions can embrace technology while maintaining their human touch. Her insights reveal how banks, particularly regional institutions, are balancing innovation with customer service and regulatory compliance. Morgan's approach emphasizes "augmented intelligence" over artificial intelligence, positioning AI as a collaborative tool for these firms. Her view of AI’s potential in this industry stems from her deep experience working with regional and large banks at Temenos, as well as her time at firms like FIS and Capital One. The conversation highlights how Temenos is helping banks modernize at their own pace by offering flexible solutions that can be implemented module by module. It also dives into how these firms are measuring their ROI on modernization initiatives, a must-have in this market. Lastly, Barb shares how her firm partners with its banking clients to work on unique ideas.

How AI is disrupting finance & how companies can respond, with Publicis Sapient CEO, Nigel Vaz

zack.miller@gmail.com (Tearsheet Studios) — Thu, 06 Feb 2025 00:00:00 +0000

On this episode of the Tearsheet Podcast, Nigel Vaz, CEO of Publicis Sapient, discusses how AI is fundamentally changing the financial services industry. Nigel shares his deep insights on how financial institutions can navigate this technological disruption, from enabling broader access to wealth management to AI-driven credit models in mortgage lending, and on why some banks are better positioned than others to capitalize on AI's potential.

Building the bridge between crypto and coffee shops: A chat with Mesh's Bam Azizi

zack.miller@gmail.com (Tearsheet Studios) — Wed, 05 Feb 2025 00:00:00 +0000

The Tearsheet podcast often explores the intersection of financial services and technology. What makes this exploration unique is its focus on emerging trends, like the connection of the Web3 technologies of crypto and blockchain with the traditional finance ecosystem. Today, Bam Azizi, the co-founder and CEO of Mesh, joins me on the podcast. Founded in 2020, Mesh is an embedded financial platform designed to simplify crypto transactions by enabling real-time connectivity and asset transfers. Previously, Azizi co-founded the cybersecurity company, No Password. Azizi has a strong background in robotics and software engineering. He is now leading Mesh towards a future focused on tokenized assets.“Everything will be tokenized because it’s easier to transfer and build,” says Azizi. He emphasizes the importance of addressing market gaps. Mesh integrates exchanges and enables crypto payments. The Evolution of Crypto & Embedded Finance Embedded finance has emerged as a pivotal market structure in fintech. It allows financial services to be seamlessly integrated into non-financial platforms. Azizi sees Mesh as a connection aggregator, not a data aggregator. This sets it apart from competitors like Plaid. “Plaid is the right solution for traditional assets,” Azizi explains. “We are the right solution for the crypto industry.” Traditional platforms focus on aggregating banking data -- Mesh enables transactional capabilities. This includes transferring assets between exchanges and using crypto for payments. Crypto Payments and Practical Use Cases Mesh’s offerings have evolved from enabling cryptocurrency deposits to powering crypto payments. Azizi describes the creation of MeshPay, which is a comprehensive solution that addresses the unique challenges of crypto payments within a commercial setting. “Imagine paying at a coffee shop with crypto through Apple Pay,” says Azizi. This vision stems from a real-world use case where a small business embedded Mesh to accept crypto as a payment method. For regions grappling with hyperinflation, functionality like this offers real practical advantages. Tokenized Assets: The Future of Finance Azizi strongly advocates adopting tokenized assets. He predicts that “everything will be tokenized” in the coming decade. Tokenization can simplify asset transfers, improving accessibility and mirroring the digitization wave of the past two decades. Azizi believes traditional processes are inefficient. He points to asset transfers between brokerage accounts as an example. These processes are often cumbersome. Tokenized systems promise to end these inefficiencies. They pave the way for streamlined financial operations. Challenges and Opportunities with Regulation Discussing regulatory frameworks, Azizi underscores the importance of clarity. “Healthy regulation benefits everyone,” he notes. Azizi emphasizes how clear guidelines could boost cryptocurrency adoption and innovation. Mesh’s non-custodial model aligns with the crypto community’s ethos of decentralization. It resonates with users who prioritize privacy and control over their assets.

Public Blockchain’s Promise: EY’s Paul Brody on tokenization, enterprise adoption, and privacy

zack.miller@gmail.com (Tearsheet Studios) — Wed, 29 Jan 2025 00:00:00 +0000

As blockchain technology seeps slowly into the traditional financial services ecosystem, it is offering new opportunities through tokenization and decentralized finance (DeFi). Today's episode of the Tearsheet podcast hosts Paul Brody, EY’s Global Blockchain Leader who shares his expertise on these developments. Paul is focusing on the promise of public blockchain and the challenges surrounding privacy. He is also the Chairman of the Enterprise Ethereum Alliance. Brody's unique roles provide a distinctive perspective on blockchain adoption in enterprises. Reflecting on his decade at EY, Brody explains, "One of the things I’m most proud of is how little our strategy has evolved. We’ve consistently believed in the value proposition of public blockchains." EY’s blockchain initiatives center around asset tokenization. It focuses on privacy-focused solutions and enabling enterprises to scale blockchain use effectively. Addressing misconceptions, Brody highlights a critical distinction. He says, "A lot of people don’t realize private blockchains have no privacy. They’re centralized systems without the benefits of a decentralized ledger." This belief underpins EY’s commitment to public blockchains, which he argues are the only viable path for enterprises. The big ideas 1. Tokenization is transforming B2B transactions. “Every transaction comes down to tokenizing money, tokenizing the stuff. And automating the terms via smart contracts,” says Brody. 2. Public blockchains offer a compelling value proposition. “Private blockchains have no privacy,” Brody explains. He emphasizes the importance of decentralized, public systems for scalability and security. 3. Privacy is essential for enterprise adoption. Brody highlights the need for privacy layers. He states, “Enterprises require privacy to share sensitive information securely on public blockchains.” 4. DeFi innovation is influenced by market conditions. Brody observes, “Lower interest rates make decentralized finance tools much more appealing. They do so by doubling potential returns compared to traditional options.” 5. Regulatory clarity will drive enterprise adoption. “The true race begins once the rules are clear. Until then, enterprises will hesitate to commit fully to blockchain-based solutions,” Brody asserts.

Building the digital financial infrastructure of tomorrow -- A conversation with Plaid's John Pitts

zack.miller@gmail.com (Tearsheet Studios) — Tue, 21 Jan 2025 17:29:21 +0000

APIs have evolved from simple data connectors to the fundamental architecture driving financial innovation. In this episode of the Tearsheet Podcast, I speak with John Pitts. Plaid’s John Pitts reveals how they’re driving open banking and empowering consumer control. He is the Global Head of Policy at Plaid. With a career spanning regulatory and policy roles, Pitts brings a unique perspective to the table. He discusses the evolving role of APIs in financial services. From his role at the Consumer Financial Protection Bureau (CFPB) to leading policy at Plaid, Pitts shares key insights on open banking. He explores how APIs are shaping the future of consumer financial data rights and fintech innovation. The Big Ideas 1. APIs Are the Backbone of Modern Financial Services. They serve as the foundation for modern financial services. This enables secure, efficient, and scalable data sharing. “It’s like moving from dirt roads to highways,” Pitts explains. 2. Consumer Control Powers the Future of Open Banking. APIs empower consumers to access and share their financial data across platforms. This fosters innovation. “The U.S. has more connected accounts than anywhere else,” Pitts notes. 3. Embedded Finance Is Becoming a Key Use Case for APIs. Companies outside the financial sector, such as Tesla and John Deere, are adopting APIs for integrated financial services. 4. APIs Enable Stronger Collaboration to Prevent Digital Fraud. They facilitate data sharing among financial institutions, creating stronger defenses against digital fraud. “Greater data sharing protects consumers,” says Pitts. 5. API Adoption Is Both a Compliance Need and a Strategic Opportunity. Financial institutions can use APIs to increase consumer engagement and maintain account primacy.

Can cryptocurrency and blockchain drive fintech innovation? Stanford’s Lisa Nestor weighs in

zack.miller@gmail.com (Tearsheet Studios) — Mon, 13 Jan 2025 16:18:45 +0000

Could cryptocurrency be the key to bridging financial gaps? Can it create a more inclusive global economy? Digital assets like stablecoins and blockchain technology are reshaping how we think about money. Their potential to level the financial playing field is becoming clearer. In today’s episode of the Tearsheet podcast, I sit down with Lisa Nestor, Research Director at the Stanford Future of Digital Currency Initiative to discuss how fintech innovation is paving the way for broader financial inclusion. Lisa’s expertise spans blockchain technology, cryptocurrency, and fintech innovation. This makes her a leading voice in understanding the intersection of these fields. Lisa’s career reflects a deep commitment to financial inclusion. “When I started researching Stellar,” Lisa shares. “It brought together what I had seen [and demonstrated] the power of providing open-source financial infrastructure.” This passion for creating accessible financial systems has guided her work. It also included her current research on stablecoins and digital dollar adoption. Lisa explains how cryptocurrency, stablecoins, and blockchain can make finance fairer. Her insights show how these innovations affect cross-border payments and financial inclusion. She also discusses their role in the evolving fintech landscape. The Big Ideas 1. Open financial infrastructure creates a global ledger accessible to all. “The idea is to create a ledger that every financial institution in the world can operate on but can’t buy. It is open and available to everyone.” 2. Stablecoins provide financial security in unstable economies. “In emerging markets like Argentina, stablecoins offer a way to hedge inflation. They secure savings amidst economic instability.” 3. Tokenizing real-world assets improves liquidity and global accessibility. “Tokenizing existing assets brings improved liquidity and global accessibility to traditionally illiquid markets.” 4. Governments explore CBDCs to complement existing banking systems. “Central banks are focused on introducing CBDCs that complement. Rather than compete with, existing banking systems.” 5. Digital dollars empower individuals in the gig economy. “More individuals are earning in digital dollars through online work. This is creating new economic opportunities without physical migration.”

How Shopify is simplifying financial services for entrepreneurs w/ Vikram Anreddy

zack.miller@gmail.com (Tearsheet Studios) — Mon, 06 Jan 2025 00:00:00 +0000

What if the financial hurdles of running an e-commerce business — like cash flow struggles, banking complexities, and sales tax headaches — could be simplified into one seamless platform? In today’s episode of the Tearsheet podcast, our guest Vikram Anreddy, head of product for financial services at Shopify, addresses just that. He discusses how the platform is addressing the financial needs of e-commerce entrepreneurs. His experience stems from roles at companies like Instagram and McKinsey. Anreddy is passionate about creating tools, especially the ones that ease the financial struggles of small business owners. “Entrepreneurship is such a tough game,” Anreddy says. “The odds of success are very low, and there’s so much friction.” He explains that Shopify is focused on reducing friction for e-commerce merchants. The company builds tailored solutions to help them succeed. Shopify Finance helps manage cash flow and simplify sales tax. It provides tools designed for small business owners. This lets them focus on their craft, not administrative tasks. Anreddy details how Shopify Finance integrates deeply into the platform's ecosystem. This allows merchants to manage their finances where they already operate their businesses. He also sheds light on innovative offerings like Shopify Capital Loans and Shopify Balance. These cater to the unique needs of small businesses. “Our goal is to stretch cash flows and end unnecessary complexities for our merchants,” Anreddy notes. Shopify Finance: A suite of tools for e-commerce merchants Shopify Finance addresses a critical pain point for merchants: managing their money. Traditional banking solutions often fail to cater to the unique needs of e-commerce entrepreneurs. This offers limited access to credit and complex processes. “Even opening a business bank account is hard for individual entrepreneurs,” Anreddy shares. The tech firm fills this gap with offerings like Shopify Balance, an alternative to traditional business banking. Merchants enjoy faster payouts, APY rewards, and seamless integrations. Tackling cash flow management with Shopify Capital loans Cash flow is a common challenge for small businesses, especially those managing inventory. Shopify Capital provides merchants with quick access to funds, enabling them to restock inventory or invest in growth opportunities. Since its launch in 2016, Shopify Capital has disbursed over $5 billion in funding. “It has become the rocket fuel for many of our merchants,” Anreddy highlights. He emphasizes the product’s impact on reducing cash flow constraints. Building merchant-centric financial tools Shopify Finance products are designed with a deep understanding of merchants' needs. They are derived from constant feedback and data insights. The platform integrates financial tools directly into its admin panel for ease. Features like APY rewards are designed to help merchants thrive. “Our merchants are incredibly driven and curious,” Anreddy says. “They adopt new tools quickly, which makes it easier to build for them.” Future of Shopify Financial Services Looking ahead, the platform plans to expand its financial services globally. It aims to integrate AI-driven insights to help merchants optimize their finances. “We are guided by two principles: stretch merchants’ cash flows and save them time,” Anreddy shares. The company also aims to enhance cross-product integrations. It wants to ensure seamless work management of features like Shopify Balance, credit cards, and sales tax management. This will help to reduce friction for merchants.

Web3 companies need payroll: Franklin CEO Megan Knab discusses blockchain’s role in finance

zack.miller@gmail.com (Tearsheet Studios) — Wed, 18 Dec 2024 10:36:00 +0000

Franklin bridges the gap between Web3 and traditional finance, rethinking how businesses manage payroll and payments. Today’s podcast features Megan Knab, Franklin’s CEO. She shares insights into the transformative role of blockchain in financial operations. She has a vision: leveraging blockchain to modernize payroll and financial tools. Megan has a rich fintech background comprised of roles at Serotonin, DriveWealth, and Veriledger. As an accountant by trade, Megan is no stranger to navigating financial systems. She became passionate about blockchain in business school after discovering an accounting fraud at work. “Public blockchains,” she recalls, “have the power to create an open financial system.” Megan founded Franklin two years ago to simplify financial operations for Web3 businesses. She focuses on making finance easier and more efficient. She notes, “Anyone who’s used payroll software in the last 10 years knows it can be an antiquated experience.” Franklin integrates both fiat and on-chain payment capabilities. This strategy allows it to operate in both Web3 and traditional finance. As a result, Franklin is carving out a unique niche in both areas. Crypto and financial tools Megan highlights blockchain’s potential to enhance back-office operations for B2B organizations. She notes, “Stablecoins can leapfrog current payroll technologies by facilitating faster payments.” She also explains that blockchain’s immutability ensures greater accuracy in financial reporting. This also builds trust in the data. “By using public ledgers, businesses can reduce errors and streamline audits. This creates efficiencies that traditional systems struggle to match,” Megan adds. Blockchain’s ability to integrate with existing payment systems is driving innovation. This is creating new financial tools for modern business needs. Tax compliance and crypto One of Franklin’s standout features is its focus on tax compliance. Megan explains, “We build tools that ensure every transaction adheres to federal and state regulations.” She emphasizes that Franklin’s proactive approach simplifies navigating the regulatory maze. “With over 675 tax jurisdictions in the U.S., automation is critical for ensuring accurate reporting. And avoiding costly errors,” Megan notes. This commitment makes Franklin a trusted partner for businesses handling complex payroll systems. Decentralized finance for B2B Megan believes decentralized finance (DeFi) has practical use cases for businesses. ” We’re helping companies operate seamlessly in fiat and crypto. Whether it is multi-currency payroll or international remittances,” she says. She also highlights the cost advantages of DeFi. “Businesses can reduce transaction fees and enhance payment speed. It does so by eliminating intermediaries. These are critical factors for today’s global operations,” Megan explains. Early Wage Access without loans Franklin’s approach to early wage access differs from traditional models. Megan critiques typical earned wage access programs as “modern payday lending”. She advocates for faster money movement using stablecoins instead. She adds, “Why burden employees with hidden loan agreements when we can facilitate instant payouts?” This method empowers workers and also minimizes administrative overhead for businesses. Franklin uses stablecoins to provide an alternative to outdated payroll systems. This creates more flexibility for both employers and employees. The Path Forward: Privacy and adoption of crypto For broader blockchain adoption, Megan identifies a need for privacy technologies. “Financial institutions will continue experimenting rather than integrating. This will happen until we address privacy concerns.” she asserts.

Uprise makes entrepreneurial finance simple feat. CEO Jessica Chen Riolfi

zack.miller@gmail.com (Tearsheet Studios) — Wed, 11 Dec 2024 00:00:00 +0000

Launching a startup is challenging. It becomes even more difficult when tackling personal and business finances that confound entrepreneurs. Enter Uprise, the brainchild of Jessica Chen Riolfi and her co-founders. Uprise offers human-driven financial advisory services embedded into small business (SMB) platforms, like banks or personal finance sites. Uprise addresses the unique financial needs of entrepreneurs which include dealing with personal and professional cashflow. Jessica has extensive experience from companies like Robinhood, Earnin, Wise, and eBay. This background drives her approach to financial services. Jessica shares, “Financial advisory, in this context, combines personal and business finances. It helps entrepreneurs make holistic financial decisions.” Lack of personalized financial advisory services at Robinhood inspired the genesis of Uprise, especially for SMBs. Jessica shares a passion for simplifying financial products with her co-founders Chris and Nantha. Together, they work to make financial solutions more accessible, bridging the gap between business and personal finance for small business owners. Uprise initially targeted Gen Z and millennials but quickly pivoted to focus on older SMB owners. This shift met the growing demand for comprehensive financial advice. It specifically targeted consultants, freelancers, and creators. “The small business world is one where personal and financial lives are intermingled,” Jessica notes. She underscores the intricate needs of her firm’s clientele. The genesis of Uprise Uprise emerges from a vision shared by Jessica and her co-founders, Chris and Nantha. They noticed the gap in financial advisory services for SMBs, where personal and business finances often overlap. As Jessica puts it, “We help them make financial decisions. And we kind of ignore the line between business and personal.” This approach recognizes the unique needs of entrepreneurs. Role of embedded finance in Small Business growth Embedded finance is at the core of Uprise’s model. It is integrated into SMB platforms and Jessica explains, “Every small business owner interacting with our platform is assigned a human advisor.” This strategy not only builds trust but also addresses the specific financial advisory needs of SMBs. It offers a personalized experience. Jessica highlights the importance of understanding the distinct needs of different SMB sectors. For example, therapists using the vertical SaaS platform, Heard, prioritize personal relationships. This prompted Uprise to offer more direct communication channels like Zoom calls. “Calls matter a lot to therapists,” Jessica observes. She illustrates Uprise’s adaptability to various client preferences. Financial planning for entrepreneurs Uprise has tailored its services to the intricate financial landscapes faced by entrepreneurs. Jessica emphasizes the importance of understanding personal and business finances. She highlights how they are interconnected. She offers advice on entity setup, retirement account options, and mortgage applications. “These are business-related questions, but they very much impact their finances,” Jessica emphasizes. She highlights Uprise’s holistic approach. Building successful partnerships with SMB platforms Uprise’s success is intertwined with its partnerships, where Jessica sees a collaborative effort. She notes, “It’s very much a revenue driver for our partners, who are SMB platforms.” Uprise customizes its offerings to meet the unique needs of each platform. This ensures that both partners and end users enjoy their financial advisory services.

Why Coast's live API demos matter in fintech feat. Kara Parkey

zack.miller@gmail.com (Tearsheet Studios) — Mon, 02 Dec 2024 00:00:00 +0000

Coast stands out in fintech with its interactive API demos. Kara Parkey, head of strategic accounts at Coast, shares insights on the Tearsheet podcast as to why her firm is working with many of the best fintech brands. It’s that Coast visually simplifies the complexity of API products, making their service essential in today’s fast-changing financial world. Coast lets users view APIs in action, making vendor and partner presentations interactive. It turns static PowerPoints into dynamic, live experiences. According to Kara, “It’s like seeing APIs come to life.” This is especially valuable for fintech companies focused on the API economy and open banking. It resonates with those driving innovation in these areas. How Coast pioneers API demos in fintech Kara explains that Coast’s demos are not just about showcasing APIs. They are about transforming how potential clients experience them. Traditionally, fintech companies relied on static prototypes or lengthy technical documentation. Coast provides a live demo environment. Kara describes it as “a unique URL branded for the client.” This allows users to interact with the APIs in a realistic setting. This approach is especially appealing in fintech, where embedded finance is becoming more common, aligning with the growing trend in the industry. Impact on sales cycle and Time to Value One of the significant advantages Coast offers is the reduction of time of the sales cycle. Kara highlights a case study with Sardine, where Coast helped cut the sales cycle by 20% to 25%. This efficiency comes from cutting down the time needed to build demos. It also gives account executives a tool to easily explain complex APIs. As a result, the process is faster and simpler. “It’s huge for embedded technology,” Kara emphasizes. She points out how it aids in reaching both technical and non-technical buyers. Facilitating API integration and onboarding Coast’s technology also simplifies the onboarding process, enabling clients to get up and running swiftly. Kara notes that while typical onboarding can take 30 days to 60 days, some clients go live within a week. Coast enables quick setup by using existing API documentation. Companies can import their APIs and build stories around them easily. No deep technical integration is required. How Coast meets the needs of Financial Institutions As Open Banking and Section 1033 expand, financial institutions are updating their APIs. The pressure to upgrade is increasing. Kara mentions that Coast is actively engaging with banks to help them “increase adoption of their APIs and make it more scalable.” The ability to visualize complex data flows in a secure environment is crucial for banks. It helps them navigate these new regulatory landscapes. Ensuring security and compliance within Coast Security is paramount in the fintech industry. Kara says that Coast takes this seriously. Coast reduces compliance risks by serving as a visual overlay instead of storing sensitive information. This approach minimizes data security concerns. Kara states, “We are your API documentation, just a visual representation.” She says that Coast’s solutions integrate without compromising data integrity.

Peter Renton's Forecast: Banking as a Service, Embedded Finance, and the Future of Open Banking

zack.miller@gmail.com (Tearsheet Studios) — Thu, 21 Nov 2024 00:00:00 +0000

In the ever-evolving world of fintech and open banking, staying ahead of the curve is crucial. Few understand this better than Peter Renton. He is the CEO and founder of Renton Co., a fintech consulting firm specializing in media, thought leadership, and event support. Renton is the former chairman and co-founder of Fintech Nexus (formerly LendIt Fintech). He has led fintech innovation for over a decade. His work has shaped the industry during this time. In today's episode of the Tearsheet podcast, Renton shared his insights on the current state of fintech. He shares his insights on where he sees the industry heading. Renton has a keen understanding of the fintech sector. His insights provide valuable guidance for established companies and newcomers in the industry. "Without doubt, the most interesting space in fintech in 2024 is the banking as a service space," Renton states. "Because of the way the banking system in this country is structured, we need banking as a service. And it's not going away." The evolution of fintech events Renton's journey in the fintech world was punctuated with the creation of LendIt. It is a conference that grew from a small gathering of 350 people to a major industry event attracting 5,000 attendees. As the fintech landscape evolved, so did the event. It expanded its focus from peer-to-peer lending to encompass broader fintech topics. "We expanded beyond lending and started it in 2017 and got going in like 2018, 2019 where we became a real fintech event," Renton explains. This evolution mirrors the broader changes in the fintech industry. These include specialized lending platforms to comprehensive financial services providers. The changing face of fintech conferences Large-scale events like Money 2020 and Fintech Meetup still attract many attendees. Renton observes a rising trend of smaller, more specialized events organized by fintech companies. "What you're seeing in the event space is more and more companies doing their small events," he observes. These specialized gatherings allow companies to showcase thought leadership. They help to engage with their target audience. Opportunities in Banking-as-a-Service and Embedded Finance Renton sees significant potential in the banking-as-a-service (BaaS) sector, despite recent challenges. He believes that new regulations will provide clarity and stability. This will create opportunities for community banks. As a result, they will be able to expand their reach through BaaS offerings. "If you want to grow your community bank, it's hard to do that geographically now," Renton explains. "But if you open up a BaaS line of business, there are ways you can grow your bank." Embedded finance is closely related to BaaS. It is another area Renton highlights as ripe for innovation. He points to companies like Pipe. They are bringing fintech solutions to non-financial businesses. Particularly in the vertical SaaS space. The promise of Open Banking Looking ahead, Renton is particularly excited about the potential of open banking. With the anticipated release of new CFPB rules on open banking, he foresees a wave of innovation. "Open banking... is going to be a moment in time, but then that's going to be in place and people are going to understand the rules of the road," Renton predicts. "I think there's a massive opportunity once that gets going. And when all the data, when your data becomes yours and it becomes more portable. There's going to be a wave of new fintech companies that are going to kind of use that and take advantage of that."

From Bitcoin to Tokenized Assets: A roadmap for Web3 in finance with Rumi Morales

zack.miller@gmail.com (Tearsheet Studios) — Thu, 14 Nov 2024 13:07:47 +0000

Is the promise of Web3 in finance finally coming to fruition, or are we still in the early stages of a long journey from Bitcoin to tokenized assets? As the cryptocurrency and Bitcoin market evolves, Bitcoin's price swings draw attention. Traditional banks explore blockchain cautiously. People are curious about the current stage of Web3 development. The question remains: where are we on the timeline? Today's episode of the Tearsheet podcast features Rumi Morales. She is a partner and board member at Outlier Ventures. She discusses the current state and future potential of Web3 in the financial sector. Morales brings extensive experience from her roles at CME Group, Digital Currency Group, and Goldman Sachs. Morales reflects on her decade-long journey in the cryptocurrency and Bitcoin space. She shares, "I would have answered this question a lot better 10 years ago when I first got into the space. I think I was full of hope and excitement and a lot of ambition." Her perspective offers a nuanced view of the industry's progress. She recognizes the progress and challenges of Web3 technologies in achieving mainstream adoption. As the discussion unfolds, Morales provides valuable insights into the current state of Web3. She discusses the role of decentralization. She elaborates on the potential for blockchain technology to reshape traditional financial services. Her position bridges traditional finance and emerging technologies. This gives readers a well-rounded view of the future of digital assets and decentralized systems. The Big Ideas Morales emphasizes the importance of data ownership and privacy in the Web3 ecosystem. She states, "I do think when it comes to data and data ownership and privacy and individual rights, this idea that humans and individuals should be owning their data. And not giving it away to centralized entities is becoming more and more and more important." There is tension between centralization and decentralization (such as with Bitcoin) in the Web3 space. Morales notes, "The question is, is that theory of decentralization ever gonna take over centralization? The jury is completely out for me on that one." This observation highlights a fundamental challenge in the Web3 ecosystem. It is balancing the ideals of decentralization with practical implementation and human nature. Web3 startups face significant hurdles when trying to collaborate with traditional financial institutions. These challenges stem from mismatches in resources, bureaucracy, and operational timelines. Morales explains, "Many times to get that contract signed, it has to go through how many layers of checks. And you're just hoping that they don't run out of money to get something done to prove that you can do this." Accelerators are essential for nurturing Web3 innovation by supporting early-stage startups. This highlights the importance of investing in startups. Morales explains the role of Outlier Ventures in this ecosystem. She says, "We've probably accelerated around over 200 companies at this point, helping them in their earliest stages of growth. So these are pre-seed or seed stage companies." Tokenization of real-world assets represents a promising area for convergence between Web3 and traditional finance. Morales states, "That is around being able to tokenize most anything. It doesn't have to be a traditional security in the stock or bond sense of things."

How U.S. Bank is reinventing itself for the digital age with CPO of Digital Platforms, Gareth Gaston

zack.miller@gmail.com (Tearsheet Studios) — Wed, 30 Oct 2024 03:19:41 +0000

In an evolving financial landscape, US Bank has emerged as a leader in digital transformation. It has reshaped the way customers interact with their finances. Today's episode of the Tearsheet podcast features Gareth Gaston, Chief Product Officer of Digital Platforms at US Bank. He discusses the bank's decade-long journey of innovation and customer-centric development. "We've been on a multi-year journey on digital transformation across all facets that you can think of digital," Gaston explains. This transformation has been more than just a technological upgrade. It's been a cultural shift that has positioned US Bank at the forefront of banking innovation. The journey began with the recognition that customers were using more than just physical branches. "When we started this journey, we were renting all our digital tools," Gaston recalls. "We didn't have a mobile app. We were kind of renting our online banking and bill pay." From these humble beginnings, U.S. Bank has built its own digital platform and in doing so, laid the groundwork for successful future product development. In doing so, it has created award-winning apps and platforms that serve millions of customers. Here’s my conversation with U.S. Bank’s Gareth Gaston.

Banks need a north star for successful core modernization ft. Galileo and Valley Bank

zack.miller@gmail.com (Tearsheet Studios) — Wed, 23 Oct 2024 12:00:12 +0000

Most banks right now are at a crossroads: Either they choose to overhaul their legacy systems or come to a point where they will continue to battle the complex legacy spaghetti of multiple software systems, struggle to access talent that can manage their tech, and alienate customers that expect the best of everything. Although the choice is obvious, going through with core modernization is extremely hard. Guests on the show have been excited about moving to the cloud for many years, but very few have really taken it on, which is why when I have the chance to talk to not one, but two individuals that have hands-on experience with helping banks modernize, I really dive into their recipe of success. Joining us on the show today is Russell Barrett, COO at Valley Bank, who shares the path to modernization his $60 billion institution took, how he and his leadership team devised the bank’s change management policies, the role of consultants in this process, and the challenges the bank faced. Pouring his deep experience into this conversation on Valley Bank’s work is David Feuer, CPO of Galileo Financial Technologies, who brings his expertise of handling and guiding multiple banks of all sizes on their transformation journey.

How supporting SMBs creates a thriving economy & community

zack.miller@gmail.com (Tearsheet Studios) — Tue, 22 Oct 2024 12:00:02 +0000

SMBs face critical challenges such as lack of access to credit, barriers for women entrepreneurs, and lower levels of digital enablement, which have limited their growth and success globally. Salah Goss takes us through the Mastercard's SMB strategy, which through initiatives like Strive, focuses on easing credit access, providing digital tools, and building networks, with a particular emphasis on empowering women-led enterprises and fostering community-driven growth.

FIs and fintechs can learn to partner more intelligently with Pacemakers' Alessandro Hatami

zack.miller@gmail.com (Tearsheet Studios) — Mon, 21 Oct 2024 00:00:00 +0000

As the financial world evolves, open banking and digital transformation are opening up new opportunities. This comes with several challenges for banks and fintechs. In today's episode, I sit down with Alessandro Hatami. He is a managing partner of Pacemakers, a consulting firm that offers a systematic approach that allows its clients to find the partner that is right for them. Today we discuss some of these seismic shifts in the fintech industry. Hatami has a unique background in financial services, spanning both upstart tech companies like PayPal and traditional institutions like Lloyds Bank. His background offers a compelling perspective on the future of financial services. "Financial services is the ideal digital product," Hatami asserts. "because there isn't a real tangible exchange," he says. Yet, despite this potential, many institutions are struggling to embrace digital transformation. I’ve been saying for years on this podcast that the ability for both larger and smaller institutions to partner – to partner well, at scale, quickly, and deeply – can be a differentiated, defensible model moving forward. Hatami explains, "They have gone through an evolution. But they haven't gone through a transformation." The challenge facing the industry today lies in balancing adaptation with true transformation. from legacy systems to cultural barriers. Through Pacemakers, Hatami aims to bridge this gap. He wants to improve partnerships between established financial institutions and agile fintech innovators. Here’s my conversation with Pacemakers’ Alessandro Hatami.

How to get the most out of partnerships in serving SMBs ft. Citizens' Mark Valentino

zack.miller@gmail.com (Tearsheet Studios) — Fri, 18 Oct 2024 10:00:57 +0000

SMBs need more from their FIs, and data echoes this demand. 62% of SMB owners have reported feeling like their business banking options don't go any further than the services already available in their personal accounts. So banks have to find a way to not only differentiate their business banking products from fintech and platform competitors but their own personal banking products as well. One bank that is leading the way is Citizens, which has a three-pronged strategy for SMBs, according to its President & Head of Business Banking, Mark Valentino. Valentino talks about how Citizens is getting closer to the needs and wants of SMB owners by focusing on gathering feedback through surveys and its bankers.

J.P. Morgan’s Ashraf Hebela on how JPM is sharpening its focus on startup banking

zack.miller@gmail.com (Tearsheet Studios) — Thu, 10 Oct 2024 09:00:10 +0000

Today, we're diving into the ever-green landscape of startups and startup banking. While the startup scene is always buzzing, recent years have been particularly challenging due to a tough market, limited investment opportunities, and waning investor confidence. However, with a rebound in VC funding this year and recent rate cuts by the Fed, there’s a glimmer of hope for improvement and new opportunities. Joining me to discuss startup banking and share related insights from recent J.P. Morgan research is Ashraf Hebela, Head of Startup Banking at J.P. Morgan. In our conversation, Ashraf dives into how J.P. Morgan is sharpening its focus on startup banking, what approaches can better serve underrepresented founders, and the critical support that banking startups require from their financial institutions to thrive.

How to differentiate in the changing world of SMB payments ft. Truist's Chris Ward

zack.miller@gmail.com (Tearsheet Studios) — Thu, 10 Oct 2024 00:00:00 +0000

The days when SMBs were tethered to their home markets are long behind us. Today, SMBs are eagerly embracing global opportunities, expanding into new regions, and viewing cross-border sales as a key growth driver. Yet, with this expansion comes a major challenge: navigating the complexities of international payments. 49% of SMBs cite the ease of managing cross-border payments as a top concern. Many have faced friction with traditional banks, which has created a fertile ground for non-bank alternatives to step in. This shift is reflected in the growing trend of SMBs switching providers. While pricing and fees were once the main reasons for switching, today, the search for “better and more convenient” digital solutions is becoming a powerful motivator alongside these operational needs. So, how can FIs respond to this shift? Chris Ward, Head of Enterprise Payments at Truist Financial Corporation, addresses this question and its potential solutions at Tearsheet's The Big Bank Theory Conference, recently held in New York.

Creating a seamless banking + payments + software experience for SMBs ft. U.S. Bank's Scott Beyer

zack.miller@gmail.com (Tearsheet Studios) — Wed, 09 Oct 2024 00:00:00 +0000

How can FIs step in with solutions that alleviate these pain points, allowing SMBs to concentrate on growing their businesses while relegating banking to the background? “I think there are a few elements of that, but since SMB customers are willing to adopt technology, that's a start,” said Scott Beyer, U.S. Bank’s Head of Business Banking Digital Experiences during Tearsheet’s The Big Bank Theory Conference, held recently in New York. Beyers noted that a generational change is underway in the SMB landscape, with 77% of small business owners now adopting or planning to adopt technology to enhance their operational efficiency. This trend presents a valuable opportunity for FIs to enter the scene and create engaging digital experiences that resonate with the evolving needs of these businesses. He identified three key steps banks can employ to seize the opportunity and address existing gaps: 1. Ensure the availability of products and services 2. Build integrations 3. Focus on data reconciliation and harmonization

How Generative AI is redefining personalization in financial services with Curinos' Olly Downs

zack.miller@gmail.com (Tearsheet Studios) — Tue, 08 Oct 2024 18:10:16 +0000

Generative AI and open banking are beginning to change how banks engage with customers. Today we will look at this process with Olly Downs. He is a Chief Technology and AI Officer at Curinos. With a career spanning three waves of AI, Downs brings a wealth of experience to the table. He published his first academic paper on what we now call generative AI, back in 1999. "I've almost been waiting for the current wave of AI to join us," Downs reflects. He highlights the long-anticipated arrival of today's AI capabilities. AI-driven personalization will change digital banking. Banks are beginning to use it to recreate the personalized touch of traditional banking. Downs explains, "Traditional banking founded itself on personalized, high-engagement relationships. That followed families and businesses throughout their entire life cycle." Personalizing the online experience is challenging due to the growth of digital channels. Curinos' technology tackles this by analyzing customer journeys. It identifies the best times and ways to engage customers. This ensures that personalization continues in the digital space. The result is a more effective and tailored customer experience. Generative AI is not just boosting personalization. It addresses the entire marketing cycle for banks. This shift is redefining how banks approach customer engagement. It's enabling and testing tailored interactions with numerous ready-to-use marketing creatives. The impact is both profound and widespread. The blend of personalization with open banking is shaping the future of banking.

Compound Influence #3: WallStreetBets

zack.miller@gmail.com (Tearsheet Studios) — Sun, 29 Sep 2024 16:44:09 +0000

In the latest episode of Tearsheet's newest podcast, "Compound Influence," hosts Zack Miller and Josh Liggett dive deep into the fascinating world of Wall Street Bets (WSB) and its impact on the financial landscape. This eye-opening discussion explores the intersection of social media, retail investing, and the power of online communities. The Rise of Wall Street Bets The hosts trace the origins of WSB, from its humble beginnings in 2012 with just 1,700 followers to its explosive growth to over 17 million members by 2024. This growth trajectory wasn't linear – it saw a massive spike during the GameStop saga in early 2021, catapulting the community into the mainstream spotlight. The Robinhood Connection A significant portion of the podcast focuses on the symbiotic relationship between WSB and the trading app Robinhood. The hosts discuss how Robinhood's commission-free trading model and gamified user experience aligned perfectly with WSB's high-risk, high-reward trading philosophy. This partnership inadvertently led to debugging Robinhood's platform and exposing potential exploits. Impact on the Financial Industry The discussion highlights how WSB and the GameStop event forced traditional financial institutions to take notice of retail investors' collective power. It led to the emergence of new platforms like Public.com and prompted established players to adapt their strategies. The WSB Ethos One of the most intriguing aspects of WSB, as pointed out in the podcast, is its unique culture. Unlike traditional finance forums, WSB embraces transparency about losses, often with self-deprecating humor. This openness creates a sense of community and shared experience among members. Challenges and Concerns The hosts don't shy away from addressing the potential dangers of WSB's influence. They discuss how the influx of inexperienced investors armed with partial knowledge can lead to risky behavior and significant financial losses. Lessons for Financial Institutions The episode concludes with insights on how established financial institutions might engage with communities like WSB. The hosts emphasize the importance of authentic interaction and warn against attempts to control or manipulate these organic communities.

How Microsoft and Wipro are elevating finserv with responsible AI and cognitive assistants

zack.miller@gmail.com (Tearsheet Studios) — Fri, 27 Sep 2024 10:07:54 +0000

Welcome to the Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Today, we’re joined by Bill Borden, Corporate Vice President, Worldwide Financial Services, at Microsoft, and Suzanne Dann, CEO for the Americas at Wipro. Together, they discuss their collaboration on leveraging Azure OpenAI to enhance generative AI in finance. This partnership focuses on improving customer experiences, streamlining processes, and ensuring responsible AI practices in the financial industry. As Suzanne puts it, “My role is to help clients digitally transform by bringing together the right industry expertise, technology, and integration experience.” Bill adds, “Our goal at Microsoft is to build products and services that truly meet the unique needs of financial institutions.” We’ll explore how cognitive assistants, powered by generative AI, are reshaping customer interactions, loan origination, and even the broker experience, all while maintaining a focus on security, reliability, and expanding AI access across the sector.

The post-purchase space is a land opportunity, feat. Gaurav Mittal, EVP of Ethoca

zack.miller@gmail.com (Tearsheet Studios) — Thu, 19 Sep 2024 12:00:05 +0000

Gaurav Mittal, Executive Vice President of Ethoca, a Mastercard company, shows that the post-purchase space represents an opportunity for our industry. It's where customers want convenience, autonomy, and trust but many of the players today have not been able to meet their demands. Mittal brings a unique insight into how tools like digital receipts and subscription management delivered within the banking app can improve customer experience. What’s more, this mission to ease post-purchase tasks like cancellations brings with it cost reductions and operational efficiencies for merchants and banks as well — and our guest today tells us how to build for the hard to achieve but ideal solution: a partnership landscape where everybody wins. To learn more about how merchants and banks can leverage subscription management tools and digital receipts to better serve customers as well as positively impact their bottoms lines download this whitepaper: https://www.library.tearsheet.co/ethocawp

How are emerging community banks building effective tech partnerships?

zack.miller@gmail.com (Tearsheet Studios) — Wed, 18 Sep 2024 15:37:10 +0000

Welcome to the second episode of our de novo community banking series. I’m Sara Khairi, your host and reporter at Teasheet. If you tuned in a couple of weeks ago, you know we kicked things off with a deep dive into Craft Bank's journey in Atlanta, from CEO Ross Mynatt's debut leadership role to its choice of core tech partner and the strategies it used to grow $250 million in assets. This episode builds on that theme, exploring the origin, growth, and technology paths of two other community banks: RockPoint Bank in Tennessee and Moultrie Bank in Georgia. Both banks are relatively young, having been founded during the pandemic, and while they share some commonalities like limited budgets and staffing, they each have unique markets and growth strategies. The variety of perspectives on the same challenges is what makes their story interesting. Joining us are Hamp Johnston, President and CEO of RockPoint Bank, and Donna Lott, President and CEO of Moultrie Bank & Trust. We discuss the origins and development of their banks, the hurdles they’ve overcome, and why they decided on Jack Henry as the right tech partner for them.

Reshaping embedded finance with KeyBank’s Jon Briggs and Qolo’s CEO Patricia Montesi

zack.miller@gmail.com (Tearsheet Studios) — Wed, 18 Sep 2024 06:32:06 +0000

Strategic partnerships – those relationships between traditional financial institutions and fintechs – have become really integral as banks seek to modernize their offerings and fintechs aim to scale their operations and get distribution. KeyBank and Qolo have teamed up on an embedded finance offering. On today’s episode, we sit with Jon Briggs, Head of Product and Innovation at KeyBank, and Patricia Montesi, Co-founder and CEO of Qolo. Their collaboration story begins two years ago when a single slide in Qolo's pitch deck caught KeyBank's attention. "We still talk about it today," Montesi recalls. "It was the ‘Series A: Winter Slide’, which was all about how fintech had created this spiderweb ecosystem of suppliers. And sort of put the burden back on banks and corporates to bring it all together." Their shared goal of simplifying fintech sparked a partnership that’s addressing how treasurer think about and use banking. As Briggs explains, "We enter partnerships because they need a lot of mind share, a lot of sweat equity." What set Qolo apart was their deep understanding of banking-grade compliance and operational risk. This makes the integration process less painful. The result of their collaboration? KeyVAM, a virtual account management system that simplifies money movement by consolidating balances and transactions in a virtual platform, reducing the need for organizations to manage multiple accounts or complex account structures. KeyBank’s Jon Briggs and Qolo’s Patricia Montesi are my guests today on the Tearsheet Podcast.

Modernizing the finance tech stack: A conversation with Mercury's VP of Finance, Dan Kang

zack.miller@gmail.com (Tearsheet Studios) — Wed, 11 Sep 2024 06:50:33 +0000

Today's episode of the Tearsheet podcast features Dan Kang, VP of Finance at Mercury. He shares his insights on how the fintech company is reshaping corporate finance for tech founders. Kang has experience in private equity, Square, and Mercury. This background gives him a unique view of financial services for startups and positions the neobank nicely as the IPO window opens wider for more of its clients. His insights are especially valuable in today’s changing financial landscape. "We're excited about the service area that this opens up for Mercury," Kang explains. He discusses the company's recent expansion into personal banking. This move, based on customer demand, shows Mercury's commitment to complete financial solutions for founders. Kang emphasizes the importance of understanding customer pain points. He states, "It starts with really understanding what are the customer pain points and what are they looking for." This customer-centric approach has led Mercury to develop innovative products. These include free wire transfers and streamlined SAFE agreements.I think this approach sets them apart in the competitive fintech landscape.

Compound Influence #2: Ron "The Analyst's Analyst" Shevlin

zack.miller@gmail.com (Tearsheet Studios) — Fri, 06 Sep 2024 07:52:48 +0000

Welcome to Compound Influence, the podcast that dissects the power players shaping the financial services industry. I'm your host, Tearsheet's Zack Miller, joined by my insightful co-host, Josh Liggett. In today's episode, we're diving deep into the world of financial analysis and influence, focusing on a figure who's been making waves in a unique way: Ron Shevlin. Known for his data-driven approach and sharp insights, Ron has carved out a niche as the "analyst's analyst" in our industry. We'll explore how Ron's methodical, sometimes contrarian views are reshaping conversations in banking and fintech. We'll also draw some interesting comparisons to Jim Cramer, whom we discussed in our previous episode, highlighting the diverse ways influence manifests in our field. Whether you're a seasoned veteran or a rising star in financial services, this episode promises to offer valuable insights into the mechanics of influence and the power of nuanced, data-backed perspectives in our rapidly evolving industry. The big ideas Data-Driven Contrarianism: Ron Shevlin's approach combines deep industry knowledge with a willingness to challenge accepted practices, using data to poke holes in common assumptions about banking and fintech. The Power of "Boring" Finance: In contrast to flashy influencers, Shevlin's "boring" but substantive content resonates strongly with industry professionals, highlighting the value of in-depth, nuanced analysis in financial services. Independence as Influence: Shevlin's perceived independence and resistance to being "influenced" himself lends significant credibility to his opinions and analyses. Niche Expertise in a Massive Market: The financial services industry is so large that influencers like Shevlin can focus on specific niches (like credit unions) and still have substantial impact and reach. B2B Storytelling Through Social Media: The podcast discusses how leaders in fintech and banking are increasingly using platforms like LinkedIn to share behind-the-scenes insights, building trust and connections with potential clients and partners. So, grab your coffee, settle in, and let's unpack the

Evolving tech preferences among community banks: Craft Bank’s tech & growth with CEO Ross Mynatt

zack.miller@gmail.com (Tearsheet Studios) — Tue, 03 Sep 2024 00:00:00 +0000

Hey, I'm Tearsheet's Sara Khairi. For my very first episode, I decided to step outside the frenetic pace of the Big Apple and dive into the lesser-known banking scene in other states. Community banks have weathered a storm of challenges in recent years, including macroeconomic pressures and the uncertainty following three regional bank failures in 2023. In particular, young community banks launched during the peak of Covid-19 have had to contend with additional complexities due to their timing. These community banks may operate on a smaller scale, but their ambitions rival those of Wall Street giants. As the digital wave sweeps across the globe, these banks are not just staying in the game — they’re hustling to keep pace and stay relevant by adopting emerging technologies. One example is Atlanta's Craft Bank, which opened its doors in 2020, right when the world was facing a pandemic. Primarily a commercial bank with a business-centric focus, Craft Bank currently operates with a team of 19 employees and manages total assets of $250 million. Ross Mynatt, CEO of Craft Bank, joins us to discuss his journey as a first-time CEO, the choice of Jack Henry as their core tech partner, and the strategies behind Craft Bank’s $250 million asset growth at a time when most smaller institutions were struggling just to stay afloat.

The evolving role of Chief Data Officers and Generative AI in financial services

zack.miller@gmail.com (Tearsheet Studios) — Fri, 30 Aug 2024 07:01:12 +0000

Welcome to the Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. In today's episode, we explore what it takes to build world-class data governance in financial services. Our guests are Jay Como, the global head of data governance at T. Rowe Price, and Glenn Kurban, partner at Capco. We talk about how generative AI and new data strategies are transforming finance, sharing insights on the transformation of the Chief Data Officer role. The discussion also focuses on the challenges of large-scale data migrations. Jay Como reflects on the convergence of data and digital roles. He states, "What we've seen is there used to be kind of two shapes of CDOs. There was a chief data officer and there was a chief digital officer. And what I think in the last five years is what we've seen is those roles have really come together." Glenn Kurban adds depth to this perspective, emphasizing the shift towards more proactive data strategies. Glenn says, "You're seeing much more being asked of CDOs in terms of, how are we moving now to an offensive posture around data? That is, how am I going to monetize this data? How can I use it to drive better decisions, reduce costs, and actually outpace our competitors?" As our discussion unfolds, it becomes clear that the financial services industry is at a pivotal moment. AI tools and cloud technologies are reshaping traditional approaches to data governance and migration. The insights shared by Como and Kurban offer a glimpse into the future of data management in finance. AI-driven solutions and strategic data governance converge to create new opportunities and challenges. Here’s my conversation with Jay and Glenn.

How FIs can ride the AI wave and build for a fragile customer with Suzy’s CEO Matt Britton

zack.miller@gmail.com (Tearsheet Studios) — Tue, 27 Aug 2024 11:00:11 +0000

This conversation with Suzy’s Matt Britton really rose above the noise and allowed me to look at the financial services industry as an interconnected whole, as a mechanism that is alive and complex. It's the kind of perspective you can lose when you report on niche developments day in and out. In this podcast, Britton takes us on a step by step inspection of a lot of the things we have come to take for granted: the rise of BNPL, Gen Z’s complicated relationship with money, and also how AI is going to impact sectors like wealth management and restructure how we recruit, train and strategize around talent. Britton is an example of a man that not only has his finger on the pulse but is also able to condense the many and sometimes conflicting signals the market and the industry gives, into a cogent outlook. It's a conversation that will urge you to stop and take stock, and one that also spotlights how FIs can make the most of an industry and consumers that are in flux right now.

Transforming Financial Content: Malka, MoneyLion’s data-driven approach to today’s consumers

zack.miller@gmail.com (Tearsheet Studios) — Thu, 22 Aug 2024 07:00:37 +0000

Today’s a first for the podcast. We have an entire management team joining us on the podcast. For today’s show, we have the new leadership team of Malka Media. Malka is a subsidiary of MoneyLion and the firm’s content studio. It’s in integral part of the entire firm’s strategy and we definitely dive into their groundbreaking approach to financial content marketing. Bill Davaris, co-CEO of Malka Media, emphasizes the importance of quality content and storytelling for the firm. He states, "We're trying to bring in what modern brands want, right? By bringing in top talent, where can we serve them with the latest technologies and strategies." Paige McCrenskey, Chief Brand Officer, highlights the challenges of the "attention deficit economy". She focuses on the need for brands to connect through compelling stories. Chris Apostle, co-CEO, discusses the critical role of technology and data in powering marketing efforts and customer engagement. Together, they explore how Malka Media is creating a dynamic content ecosystem within MoneyLion and beyond with the firm’s clients. Malka Media’s new management suite is my guest today on the Tearsheet Podcast.

Tradition & Innovation: Wealth Management with BNY's Nader Souri and Arta Finance's Caesar Sengupta

zack.miller@gmail.com (Tearsheet Studios) — Sun, 11 Aug 2024 08:12:23 +0000

Tearsheet’s roots were in investment and wealth tech. As that world became more focused on plain vanilla robo-advisors about a decade ago, I expanded our focus to include banking, payments, and lending. That’s because with ETFs and low-cost providers, it felt like most of the focus of innovation was coming from removing costs. Things have changed since then. On today’s episode, we explore the changing world of wealth management with two industry leaders: Nader Souri, Head of Corporate Banking at BNY, and Caesar Sengupta, CEO of Arta Finance. You don’t have to listen closely to really feel their connection and the relationship they’ve personally forged through working together. I first spoke with Ceasar a few years ago when he was VP and General Manager of Payments and Next Billion Users at Google. Our conversation reveals how these two organizations are leading how wealth management solutions are evolving for professionals. It also sheds light on the role of fintech partnerships in this transformation. Caesar Sengupta opens the discussion by explaining Arta Finance’s mission. “We are a digital family office or a digital private bank for professionals, not the ultra-rich,” he says. The goal is to democratize wealth management and make sophisticated financial tools accessible to those who have worked hard in their careers. Nader Souri adds, “At BNY, we provide the platform upon which folks like Arta Finance can build their businesses.” He highlights the role of clearing and custody infrastructure. This helps in supporting innovative fintech solutions.

Compound Influence Podcast #1: Jim "The OG" Cramer

zack.miller@gmail.com (Tearsheet Studios) — Wed, 07 Aug 2024 06:00:00 +0000

Brought to you by Tearsheet, Compound Influence is a podcast that explores the power of influencers in the financial services industry. The hosts, Zack Miller and Josh Liggett, discuss the rise of influencers and their impact on private investing and traditional financial services. They focus on the OG influencer, Jim Cramer, and his use of social media, particularly Twitter. They highlight the importance of finding the right platform for your business and going all-in on that strategy. Josh and Zack also discuss the credibility and street cred that Jim Cramer brings to the table, as well as the importance of providing education and tools to your audience. They conclude by mentioning the Inverse Jim Cramer Twitter account and the academic research on the inverse strategy. Takeaways Influencers have become powerful players in the financial services industry, particularly in private investing and traditional financial services. Finding the right platform and going all-in on that strategy is crucial for success as an influencer. Credibility and street cred are important factors in building influence, and having a background in the industry can enhance credibility. Providing education and tools to your audience can help establish trust and loyalty. The Inverse Jim Cramer Twitter account and the academic research on the inverse strategy highlight the impact and influence of Jim Cramer.

Unlocking 5000 global corridors: Remitly's growth story with Matt Oppenheimer

zack.miller@gmail.com (Tearsheet Studios) — Sun, 04 Aug 2024 00:00:00 +0000

Matt Oppenheimer, co-founder and CEO of Remitly, joins us on the podcast today. He shares his journey and insights into building a company that transcends borders with trusted financial services. Remitly's vision is audacious: to transform lives by providing reliable financial services across the globe. "We're just getting started," says Oppenheimer, reflecting on the company's growth and future aspirations. Oppenheimer emphasizes the importance of focus and customer trust in Remitly’s success. Starting with a single corridor—U.S. to the Philippines—Remitly has grown to serve over 5,000 corridors worldwide. "By going deep into one country, you could really get it right," he explains. This strategy, although slower initially, has paid dividends in building a trusted and loved service for millions of users. From handling complex risk systems to managing a vast disbursement network, Oppenheimer details the intricacies of launching new markets and maintaining a seamless customer experience. He also shares his personal growth journey as a leader, highlighting the importance of continuous feedback and intentionality in development. It’s a great conversation with Matt and when you listen, you get the impression that he’s been very thoughtful in how he’s built Remitly – both products and culture – and how he’s evolved at the helm. Matt Oppenheimer is my guest today on the Tearsheet Podcast.

Revenued CEO Sol Lax on flexible lending for small businesses

zack.miller@gmail.com (Tearsheet Studios) — Mon, 29 Jul 2024 06:05:06 +0000

On today’s episode, we sit down with Sol Lax, the CEO of Revenued, to dive into the intricacies of small business lending. Lax shares his journey from managing Merchant Cash Advances (MCA) to leading Revenued, a company focused on providing financial solutions for small businesses, particularly those with subprime FICO scores. With a background rich in financial innovation and a keen understanding of small business needs, Lax offers insights into the challenges and opportunities in the subprime lending space. “Merchant Cash Advances (MCA) were a necessary but imperfect tool for small businesses,” Lax explains. “We saw an opportunity to create a more flexible and tailored financial product.” The Big Ideas Lax emphasizes the need for flexible financial products. “MCAs are too rigid,” he says. “Our Flex Line offers more controllable, predictable, and available capital.” The PPP era was instrumental in refining Revenued’s operations. “Processing a million PPP loans taught us anti-fraud and scaling,” Lax recounts. Revenued is harnessing the power of data to provide actionable insights that help in decision making. “We can show small businesses how much they’re spending on bank fees and help them find better options,” Lax explains. Lax acknowledges the difficulties in subprime lending but sees opportunities. “Subprime small businesses find it challenging to access credit,” he notes. “With a different credit perspective, we can make it happen for them.” Revenued is looking to expand its offerings through strategic partnerships. “We’re partnering with companies to provide business insurance quotes and other services based on our data,” says Lax. Through the tumultuous times of the Paycheck Protection Program (PPP), Revenued pivoted and leveraged its platform to process over a million PPP loans. This experience honed their skills in anti-fraud measures and scaling operations, setting the stage for their current offerings. It’s a candid conversation that you won’t want to miss! Sol Lax is my guest today on the Tearsheet Podcast.

How Current beat the fintech winter and achieved 100% growth with Current’s Stuart Sopp

zack.miller@gmail.com (Tearsheet Studios) — Wed, 24 Jul 2024 09:00:13 +0000

At Tearsheet, we've been following the growth and maturity of neobanks over the past few years and all in, with the billions of dollars invested, products launched, and customers acquired. The path to good unit economics has been elusive for some. Joining me on this podcast today is Stuart Sopp, CEO and co-founder of Current. In this episode Stuart gives a behind-the-scenes look at how Current has managed to thrive throughout the fintech winter, by adjusting the dial on its marketing spend without compromising its growth. Stewart also delivers a masterclass in product development and finding the right product-market fit for digital financial products. Sopp dives into Current’s development pipeline and the go-to-market strategy behind its new Earned Wage Access product and credit builder card, as well as what he's seeing in demand for these new products. It's a conversation about what it takes to build a neobank that doesn't only survive, but thrive.

Chase's new cash flow-focused solutions for SMBs with Jameson Troutman

zack.miller@gmail.com (Tearsheet Studios) — Fri, 19 Jul 2024 06:00:23 +0000

I had the pleasure of speaking with Jameson Troutman, Head of Product at Chase for Business. With over 20 years of experience in financial services, Jameson shared valuable insights into the current state of small and medium-sized businesses (SMBs) in the U.S. and the innovative solutions Chase is offering to support them. As Jameson puts it, “Small businesses in general are optimistic. They love supporting their customers and have a strong belief in their ability to power through any challenges.” This optimism is crucial, especially as SMBs navigate macroeconomic challenges such as inflation and cash flow management. The current state of SMBs in the U.S. Jameson emphasizes that despite economic challenges, the overall sentiment among small businesses remains positive. “We survey about 500 small businesses on a regular basis every month,” he explains. The data reveals that while 63% of SMBs are feeling the impact of macroeconomic forces like inflation and cash flow issues, they remain confident about their growth prospects. This optimism is fueled by their passion and creativity in overcoming daily challenges. Addressing SMB’s cash flow challenges One of the perennial issues for SMBs is managing cash flow. Jameson highlights that Chase is actively working to provide solutions that help businesses manage their receivables and payables more efficiently. “We’re bringing out new invoicing solutions and additional abilities to get paid faster through some of our real-time payments capabilities,” he shares. These innovations are designed to help SMBs maintain a healthy cash flow, which is critical in today’s economic environment. Innovative payment solutions Chase has recently launched several new capabilities aimed at simplifying financial operations for SMBs. One such solution is the faster payments capability, which allows businesses to choose how quickly they want their payments to be processed. “The flexibility gives them a lot of control,” Jameson notes. This feature helps SMBs manage their cash flow more effectively and can even provide preferential treatment from suppliers due to immediate payment options. Enhanced invoicing capabilities for SMBs Chase’s new invoicing capability is another new impactful product for Chase clients. This tool allows business owners to create, customize, and send invoices directly from their digital experience. “It saves them time because they don’t have to do manual reconciliation,” Jameson explains. The system supports multiple payment methods and auto-reconciles transactions, streamlining the entire invoicing process and improving cash flow management. Leveraging customer insights To help SMBs grow and drive revenue, Chase is launching a new data-driven product called Customer Insights. This tool provides anonymized transaction data to help businesses understand sales patterns and customer behavior. “It allows them to figure out how they tighten and get smarter about their marketing dollars,” Jameson says. This valuable data helps businesses make informed decisions about staffing, marketing, and other operational aspects.

Bluevine’s recipe for Small Business Banking: Unlocking financial efficiency for SMBs

zack.miller@gmail.com (Tearsheet Studios) — Wed, 17 Jul 2024 08:00:39 +0000

On our exploratory journey of what it takes to build world-class products in financial service, today we have a conversation with Herman Man, the Chief Product Officer at Bluevine. We sat down with him to discuss how the fintech company is revolutionizing small business banking. He shares how Bluevine aims to serve as a comprehensive financial OS for small businesses, providing a suite of solutions that includes business checking accounts, accounts payable solutions, and lending and credit services. "Our goal always was to really be the financial OS, if so to speak, for these small businesses," Herman explains. The conversation delves into Bluevine's origins, the evolving needs of small businesses, and the innovative approaches they are taking to meet those needs. This narrative weaves together Mann's insights, providing valuable guidance for industry professionals and stakeholders. Herman Mann is my guest today on the Tearsheet Podcast.

Streamlining financial ops: BILL's Irana Wasti on integrated solutions for SMBs

zack.miller@gmail.com (Tearsheet Studios) — Wed, 10 Jul 2024 10:17:00 +0000

In this episode of the Tearsheet Podcast, I am joined by Irana Wasti, Chief Product Officer at BILL. Irana has a background in product management and a strong passion for serving SMBs worldwide. Throughout her career, Irana has focused on developing tools to assist SMBs in starting, growing, and thriving. She emphasizes the importance of scalable and user-friendly technology solutions that cater to the evolving needs of SMBs. As the fintech industry continues to grow and adapt, Bill.com stands at the forefront of providing integrated financial operations solutions for SMBs. In this episode, discover more about how Irana Wasti and the team at Bill are impacting financial management for SMBs through software and payment solutions. Learn about the impact of AI on decision-making processes, the evolution of SMB tech stacks, and the strategies employed by BILL to empower SMB owners in optimizing their cash flow.

Mobile services are unleashing new banking frontiers with Gigs' Hermann Frank

zack.miller@gmail.com (Tearsheet Studios) — Wed, 03 Jul 2024 09:00:12 +0000

Earlier this year, we first heard news from Revolut and then Nubank launching mobile services. At the time, it just seemed like a story about cross marketing and selling. Both neobanks have large audiences, and selling a mobile plan would likely make some ancillary money. A few years ago, things were happening in the reverse direction – it seemed the big US telephony companies were all interested in getting into banking. A few offerings were launched but not much really came of it. But it feels like something is different now. Both Revolut and Nubank partnered with Gigs, which has been referred to as the Stripe of mobile. As co-founder and CEO Hermann Frank said in TechCrunch, these firms are working to “create an ecosystem where banking acts as a hub for multiple value-added services.” “Bundling mobile plans represents a powerful lever for neobanks to turn irregular users into monthly paying subscribers, encourage upgrades to premium features, and create an ecosystem where banking acts as a hub for multiple value-added services,” he said. Hermann joins us on the Tearsheet Podcast. We explore how traditional phone plans, once mere commodities, are transforming into extensible platforms for innovation. Hermann shares insights on how programmable connectivity enables neobanks to create sticky, world-class digital experiences that surpass the limitations of conventional telecom services. Hermann Frank is our guest on the Tearsheet Podcast.

On product strategy and digital transformation with Green Dot's Melissa Douros

zack.miller@gmail.com (Tearsheet Studios) — Thu, 27 Jun 2024 04:09:28 +0000

We’re continuing on this exploration of what it takes to build world-class products in financial services. Today, we have a fascinating conversation with Melissa Douros, the Chief Product Officer at Green Dot. Green Dot is an interesting amalgamation – it’s one of the first banking as a service companies. But it’s also a bank. With a configurable platform, Green Dot has carved out a kind of a unique space in the industry, as an OG fintech/bank. In this episode, Melissa shares her insights on digital transformation, product development strategies, and the role of emerging technologies in the fintech space. With over 20 years of experience in financial services, she brings a wealth of knowledge and a forward-thinking approach to her role at Green Dot. We delve into topics such as what it takes to build the best banking experience, accelerating partner onboarding, leveraging data for strategic insights, and exploring cutting-edge technologies like AI and biometrics. Melissa's passion for delivering exceptional customer experiences shines through as she discusses the pillars of a successful product strategy. Whether you're a fintech enthusiast, a product professional, or simply interested in the future of banking, this conversation is sure to provide valuable insights and thought-provoking perspectives. The big ideas Focus on delivering the best customer experience. "Our real focus is having people giving people the ability to transact with us the way that they want to." Have a clear long term vision while executing short term goals. "How do we create that roadmap within each one of those that’s going to deliver on our vision?" Understand partners' needs and build tailored solutions. "We build out the solutions for them. So while we're showing them the things that we have, and the things that we can do, we're truly understanding where their problems are and their pain points." Build reusable features to accelerate delivery. "We want to make sure that we have this fantastic reusable architecture, we actually have a team right now and an offsite figuring out an exact way to do that for a partner opportunity." Use emerging tech like AI to solve specific problems. "I want to know what problems we have to solve? And then how are we going to use an emerging technology to do so."

The data-driven playbook for growing a small business loan book with Enova's Cory Kampfer

zack.miller@gmail.com (Tearsheet Studios) — Wed, 12 Jun 2024 06:00:18 +0000

Joining us today is Cory Kampfer, President of Small Business Lending at Enova, which operates the leading small business lending brands OnDeck and Headway Capital. Cory has been immersed in the small business lending space since 2011 when he joined OnDeck. Over his tenure, he's witnessed the evolution of fintech lending and how it has transformed access to capital for Main Street businesses like retailers, contractors, accountants and more. In this episode, Cory provides his unique perspective on the key financial needs and challenges facing small businesses today based on data insights from Enova's $18 billion in originated loans. He discusses how fintech lenders like OnDeck are able to better service this market compared to traditional banks and other financing sources. Cory also shares how the borrower experience and application process has progressed over the years to become quicker and more digital-friendly. We'll learn what metrics and approaches Enova uses to continually improve that journey. Whether you're a small business owner, entrepreneur, or just interested in the lending landscape, this is an insightful discussion you won't want to miss. Let's dive in! The big ideas SMBs struggle to access financing from traditional banks: "There still is a real gap in terms of traditional banks and financing sources lending to small businesses, not because I don't think they may want to, but they're just not calibrated to do it very well." Online lending has become more accepted and appealing to SMBs: "What we see more that's very different from what we started with is, people, in many cases, go first to an online lender, because the application process is just so quick and easy. And they can get the answer that they need." Using technology and data analytics is key to efficiently underwriting SMB loans: "We need to leverage technology. We have lending algorithms that help us through machine learning to give offers in a much more automated way...you need to leverage the data and the analytics, which our teams ingest, and then can give you a loan offer in the matter of minutes or hours." A smooth application experience is crucial for attracting and retaining SMB borrowers: "In the application process, we want it to be a quick and easy process for them to be able to get through it...it's great to see that kind of repeat traffic because obviously what we did is working to help them grow their business." SMBs are optimistic about growth despite challenges: "The survey we just did, what it screams is that small businesses are very optimistic. They're hiring – you can see that in the data in terms of their investing more in employees. That's kind of putting their money, where their mouth is."

Brex CFO on spend tech, IPO & cross-functional ties in building modern finance stack

zack.miller@gmail.com (Tearsheet Studios) — Fri, 07 Jun 2024 05:16:50 +0000

Today, we're diving into the modern CFO stack, including corporate spend management and financial tech with our guest - Ben Gammell, the CFO of Brex. Brex has been shaking up how companies large and small approach spending, providing an integrated platform for everything from corporate cards to spend analytics. It's been quite a journey for Ben, who started at Brex just as the firm was getting off the ground with 15 employees. Ben gives us an inside look at Brex's evolution from scrappy startup to serving over 120 public companies today. We'll learn how the CFO role has transformed, expanding well beyond just finance into true cross-functional business partnership. Ben doesn't hold back - offering refreshing insights about navigating the IPO journey for Brex clients – but also for Brex itself, managing finances through turbulent times, and the key transitions every CFO faces as their company goes public. You'll want to take notes! But don't worry, we'll keep it fun too by tapping into Ben's lead generation skills honed from his Goldman days. Who knows, you may walk away wanting to sign up for Brex as a customer yourself! So get ready for an engaging discussion blending savvy business strategy with the realities of life as a startup CFO. Settle in and let's get started with Ben Gammell of Brex. The big ideas Brex has evolved from serving just startups to also catering to larger enterprise clients, including public companies: "I think there's been a big dynamic of, you know, how do we think about, you know, when we're early stage, we're primarily supporting our businesses with financial services products. But as we moved up into the enterprise customers, there's a greater need for a software solution...We have over 120 public companies on our platform today. Many of them are very much household names, especially in the tech space." The role of a CFO has expanded beyond just finance to being more integrated with understanding the business drivers and partnering across functions: "I think that there is definitely a case where CFOs are expected to have more of a integrated sense of understanding of the business, I think, even if you look at how finance teams are structured, that's kind of gone the trend where it's, you know, it's having embedded teams within different functions, providing kind of finance support." Brex is taking time in 2023 to integrate their products into a seamless enterprise solution rather than building new products rapidly: "A big hairy goal is just making sure that we have a really great product from a user experience perspective, and making sure that all the products we've built over the last several years, really work seamlessly with one another and really integrated in a really delightful experience for our customers." The CFO community is surprisingly collaborative and tight-knit, willing to share learnings: "I think it's an amazingly collaborative community, which I think is fantastic, especially for more new entrants, such as myself, I think there's definitely an openness to help each other out." There are key transitions a CFO needs to make as a company goes public around measuring success beyond just valuation: "I think there's this transition phase, especially the CFOs have to go through, you know, going up to an IPO of making sure the company measures its success and things that aren't just what is the value of the company? Because I think if you do that you're setting yourself up for failure."

Unlocking home equity: The future of residential real estate investing with Nada's John Green

zack.miller@gmail.com (Tearsheet Studios) — Sun, 02 Jun 2024 06:33:20 +0000

Welcome to the Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. What's up FinTech fam? On today's episode, we're going deep on an innovative new way to tap into your home's equity - without taking on more debt. Our guest is John Green, co-founder and CEO of Nada, the first SEC-qualified platform allowing homeowners to access their home equity in exchange for a share of the future appreciated value. John breaks down how Nada's unique "home equity investment agreements" provide much-needed liquidity for owners while offering investors access to the $30 trillion residential real estate market. We learn about the multi-year journey John and his team undertook to navigate the regulatory minefields of consumer finance and securities laws. John pulls back the curtain on Nada's business model, including their creative distribution partnerships and their plans to take these equity funds public as REITs. You'll hear John's bold vision to make home equity as liquid and accessible as checking your savings account balance. From debt relief to fueling consumer spending, he shares how unlocking this massive asset class could drive huge economic empowerment. John also gets candid about leadership lessons he's learned as an "unreluctant extrovert" and former full-time punk rocker! It's an insightful discussion at the intersection of fintech disruption, regulatory innovation, and an audacious founder's journey. Join us for this fascinating look into making one of the largest asset classes finally available to everyone. Let's go!

Inside Cash App's approach to banking its base: A conversation with Ryan Budd

zack.miller@gmail.com (Tearsheet Studios) — Mon, 27 May 2024 10:56:00 +0000

On today's episode, we're going behind the scenes at one of the most successful money apps out there - Cash App. Our special guest is Ryan Budd, the head of financial products at Cash App, and he's giving us an inside look at Cash App's evolution into a financial powerhouse. Cash App started as a simple way to send money to friends, but as Ryan explains, it has become so much more. We're talking full-service banking, investing, crypto trading, tax services - the works! Ryan opens up about Cash App's bold vision to be a "one-stop shop" for all your money needs. But how has this ambitious fintech company maintained its startup hustle and breakneck innovation pace even as it has exploded to over 57 million monthly users? Ryan pulls back the curtain on Cash App's unique team structure filled with "mini CEOs" laser-focused on different product verticals. He also shares insights into Cash App's drive to bank the underbanked and economically empower communities that have been overlooked by traditional finance. From automated money management to increasing access to credit, Cash App wants to be the #1 choice for how people take control of their financial lives. Ryan maps out their goal to create the "next gen community bank" by intelligently merging banking, commerce, and that powerful network effect. It's a candid conversation that you won't want to miss! The big ideas Cash App as a Comprehensive Financial Platform Ryan highlights Cash App's evolution from a money transfer service to a comprehensive financial platform: "Everyone knows Cash App has this place to send money to their friends and their families. But a lot of them don't really realise that we've become so much more than that." Focus on Banking the Base Cash App aims to deepen its user engagement by becoming the primary banking service for its users: "When we think about banking the base, it's how do we get more customers to actually use us as their primary banking utility?" Automation and Financial Health The platform's automation features aim to simplify financial management for users: "You can deposit your paycheck and then we rolled out this auto allocation feature a few months back automatically set a percentage of it to savings, automatically set a percent to investing into Bitcoin." Incentives to Retain User Funds Cash App provides significant incentives for users to keep their money within the app, such as high savings yields and overdraft features: "If you deposit your paycheck to Cash App, you get 4.5% savings yield, you get this incredible overdraft feature that allows you to go negative without any interest or fees or anything of the sort." Synergy Between Cash App and Square Integrating Cash App with Square's merchant services enhances user experience and creates a seamless ecosystem: "I'm sure you've probably seen at Square point of sale systems, there's oftentimes a little Cash App barcode that's there that you can scan and use Cash App Pay." Innovative Team Structure and Culture Cash App's success is driven by a lean, autonomous team structure that empowers employees to innovate: "Every single person knows that they're supposed to own that vertical and they look at name X competitor in that space, and they say we're going to beat them... And they're really incentivized and empowered to kind of really think outside the box and push things."

From direct lending to embedded finance: Luke Voiles on Pipe's evolving value proposition

zack.miller@gmail.com (Tearsheet Studios) — Tue, 21 May 2024 06:00:12 +0000

Welcome to the Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Today I'm joined by Luke Voiles, CEO of Pipe, a high profile revenue-based lender that’s evolving into a platform – we’ll talk a lot about this evolution. Luke has had an extensive career journey that has prepared him for his role at Pipe. After starting in private equity, he joined Intuit where he helped build and lead the QuickBooks Capital team, providing capital to small businesses during the PPP loan program. He then went to Square to run their banking division before being recruited to join Pipe as CEO. I’ve actually interviewed Luke in each one of these roles and it’s been fascinating for me to watch his own growth as a product-driven leader. In our conversation, Luke shares insights from his experience at companies like Intuit and Square that have shaped his leadership approach and methodology for building products. We discuss how he has applied lessons around having a clear mission, focusing on the customer experience, and balancing speed with compliance in regulated industries like fintech. Luke provides a look inside Pipe's evolution from its original vision to the newly launched "Capital as a Service" offering. He explains the strategic prioritization that enabled them to build a scalable product quickly. We also get a preview into Pipe's future plans, including AI-powered tools to streamline operations for small business owners. Whether you're an entrepreneur, operator at a startup, or just interested in financial technology and product development, I think you'll find Luke's perspectives insightful. So enjoy my conversation with Luke Voiles of Pipe.

How MSU Federal Credit Union uses incentives to get customers to move beyond just checking balances

zack.miller@gmail.com (Tearsheet Studios) — Tue, 14 May 2024 07:49:49 +0000

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller Banks and other FIs continue to look for higher engagement with their customers. Logging into an account and refreshing a balance doesn’t create relationships. So, what’s an FI to do to drive real engagement. Michigan State University Federal Credit Union has rolled out a loyalty program that delivers gift cards directly to customers inside their accounts by merchants trying to acquire new customers. The program uses customer data to target offers that matter. And this is just the beginning as banks and credit unions find ways to extend their value proposition, building and strengthening relationships with their customers. I’m joined by Ben Maxim, Chief Innovation Officer at Michigan State University Federal Credit Union, and Brendan Grove, CTO of PrizeOut, who are to share their insights on how financial institutions are looking to provide more value to their customers, extended beyond that tried and true toaster. We’ll discuss the power of partnerships between credit unions and fintech companies, and explore topics like the evolution of loyalty solutions, the challenges of integrating new technologies into existing credit union infrastructures, and the exciting possibilities for enhancing member engagement through personalized data-driven experiences. So, whether you're a bank or credit union product person, a fintech aficionado, or just curious about the future of banking, you're in for a treat. Let's get started!

Card Launch 101 The ultimate guide to build and launch a successful card

zack.miller@gmail.com (Tearsheet Studios) — Sun, 05 May 2024 15:59:53 +0000

We recently held a LinkedIn Live event, entitled "Card Launch 101," where we dove deep into the strategies, insights, and best practices for launching and growing successful card products in the fintech and banking industries. Featuring industry experts: Scott Johnson, Vice President of Revenue at Galileo Financial Technologies Marc Butterfield, SVP of Innovation and Disruption at FNBO Jack Rubin, SVP of Consumer Financial Solutions at DailyPay Listen is as these professionals share their wealth of knowledge and experience in scaling partnerships, driving innovation, and navigating the complexities of launching card products in today's dynamic landscape. Here's what we discussed: Understanding Card Launches: Gain insights into the key components of a successful card launch strategy, including strategic planning, market research, and product development. Identifying Your Audience: Learn how to identify and understand your target audience through effective market research and data analysis. Creating Your Card: Explore the process of designing and developing card products, from features and branding to user experience and regulatory compliance. Partnerships and Business Development: Discover the role of partnerships in scaling card programs and expanding market reach, with real-world examples of successful partnership strategies. Marketing and Promotion: Get insider tips on marketing and promoting your card product effectively, including targeted messaging, branding, and customer acquisition tactics. Case Studies and Success Stories: Hear real-world examples of successful card launches and gain valuable insights and lessons learned from industry leaders. To download Tearsheet's Card Guide 101, from ideating, partnering, building, launching and optimizing a card program, go to http://tearsheet.co/cardguide

Inside Vanguard's CX modernization journey

zack.miller@gmail.com (Tearsheet Studios) — Sun, 28 Apr 2024 11:25:31 +0000

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. In this episode, we'll be diving deep into the world of customer experience (CX) transformation with Vanguard, one of the leading names in investment management. Joining us are Aaron Taylor, Chief Information Officer, and Marco De Freitas, Head of CX and Digital, two seasoned professionals who have been instrumental in Vanguard's CX modernization journey. Throughout our conversation, we'll explore Vanguard's approach to modernizing its digital channels, client journeys, and service platforms. From laying down the foundational pillars to unlocking the potential of ‘CX Alpha’, Aaron and Marco share invaluable insights into how Vanguard is improving the way clients interact with their services. We'll delve into the parallel advancements made by Vanguard, the impact of fintech innovations on their CX strategy, and how they measure the success of their initiatives both internally and with clients. Stay tuned as we uncover the seminal steps behind Vanguard's CX transformation, explore the significance of data accessibility and personalized interventions, and discover what lies ahead in their journey towards even greater CX innovation. So sit back, relax, and get ready to embark on an insightful episode into Vanguard’s CX modernization journey. Let's dive in!

MoneyLion's maniacal mission of rewiring finance with Dee Choubey

zack.miller@gmail.com (Tearsheet Studios) — Thu, 25 Apr 2024 06:02:03 +0000

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Today, I have the pleasure of sitting down with Dee Choubey, CEO of MoneyLion. In our chat, Dee takes us on a journey through MoneyLion's evolution, from its early days as a venture-backed neobank to its current position as a headline fintech stock. With a blend of insight and humor, he shares the company's shift from a growth-at-all-costs mindset to a more sustainable position focused on distribution, strategy, and morale. Through market ups and downs, Dee underscores the vital role of staying mission-driven and the focused dedication of MoneyLion's team to empower Americans with better financial tools and literacy. Looking ahead, Dee paints a vibrant picture of MoneyLion's future, where AI-driven search capabilities impact how consumers interact with their finances. MoneyLion isn’t the same company it was when I spoke with Dee almost 5 years ago. Since then, the firm has acquired two businesses which now function as an embedded banking product platform and an influencer content studio. With a comprehensive product catalog, a dynamic consumer marketplace, and trendy media business capabilities, MoneyLion is poised to lead a charge in reshaping the future of finance. So buckle up for an enlightening and entertaining conversation as we explore the past, present, and future of MoneyLion with the ever-insightful CEO, Dee Choubey. The big ideas Shift from Growth-At-All-Costs to Sustainable Strategy: "In 2019, we were a venture-backed, serious business. The expectation was continued growth of 100 to 150%. Keep burning. Don't worry about the burn." Maniacal Obsession with Mission: "What got us through it was a maniacal obsession with mission. Our mission is to rewire the financial system, to give every American the right tools to make the best financial decisions." AI-Driven Financial Search Capability: "Our search capability, AI-driven search across all of your financial institutions, you can talk to MoneyLion very soon and say, 'Hey, what happened this day, last year? This day, two years ago?'" Empowering Americans with Financial Literacy: "Our ability to actually offer at scale, consumers the right financial basket, I think we're probably further ahead on that than most because we have the consumer in the marketplace." Focus on Distribution, Strategy, and Morale: "My role has moved from being much more tactical and execution-oriented to much more focused on distribution, strategy, and morale, kind of like the vision and the mission." Staying Mission-Driven Amid Market Volatility: "It's always better to multiply your options by a larger number than a lower number. We've had our days. At one point, the market cap had fallen below $100 million. But it's just owning your destiny."

“We don’t use the word ‘disrupt’”: The future of financial services, starting with distribution

zack.miller@gmail.com (Tearsheet Studios) — Tue, 23 Apr 2024 09:00:55 +0000

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. I'm thrilled to bring you a special episode today. After doing this for over 10 years, it’s not often I’m on the other side of the mic, being interviewed. But that’s exactly what we have in store for you. What you're about to hear is a recording from my recent appearance on Gusto's SMB Tech Innovators Podcast, hosted by Brian Busch. In this conversation, Brian and I explore the intriguing intersections of traditional financial institutions, technology, and innovation. Throughout our discussion, I share insights drawn from over 15 years of experience in the industry, including my role in reporting financial services news and producing over 650 podcast episodes. Together, we unravel the complexities of the financial services landscape and shed light on the evolving role of technology in shaping its future. Join us as we delve into key themes such as: Tearsheet’s journey and our focus on incumbent innovation. The importance of partnerships between traditional finance and fintech. Regulatory challenges faced by fintech entrepreneurs. The transformative impact of embedded tools on SMB technology. Success stories like Intuit and QuickBooks' ecosystem. My insights on AI, quantum computing, and crypto in finance. How banks are adapting to embrace new technologies. The evolving landscape of fintech acquisitions. This recording captures an interesting dialogue that I'm actually quite proud to share with you. So without further ado, let's dive into the conversation and explore the fascinating evolution of the financial services industry. Here’s my conversation with Gusto’s Brian Busch. Here's a link to the original conversation: https://embedded.gusto.com/blog/financial-services-technology-podcast-with-zack-miller/

Deep Dive: Building for Gen Z, influencers, financial literacy, and a budgeting coloring book

zack.miller@gmail.com (Tearsheet Studios) — Thu, 18 Apr 2024 04:37:17 +0000

Tearsheet Editor-in-Chief Zack Miller hosted a LinkedIn Live session featuring two of our top reporters, Rabab Ahsan and Sara Khairi. It was a chance to go behind the scenes of our reporting and go deeper into what's happening at the intersection of financial services, new models, rising expectations, and evolving technology. We explored the fascinating intersection of finance, Gen Z trends, and influencer culture, discussing how unconventional strategies like budgeting coloring books are reshaping financial literacy. We'll also dove into how some incumbent firms, like Bank of America and Capital One, are exploring unconventional methods to capture consumers’ interest in financial education as a starting point.

'Brick walls are there to be broken by those who deserve to': Curve's Shachar Bialick

zack.miller@gmail.com (Tearsheet Studios) — Tue, 16 Apr 2024 04:33:50 +0000

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Today, I invite you to join us as we uncover the story of Curve, a creative fintech that's a sort of operating system for money, impacting the way people spend, send, see and save money Step into the world of Shachar Bialick, founder and CEO at Curve, as we traverse the company's path from its humble beginnings in 2016 to its strategic expansion into international markets. It's a tale of resilience, grit, and determination, as Curve works to carve out its place in a competitive fintech space. Along the way, we'll uncover five pivotal insights that shed light on Curve's approach to finance. From offering customers a real-time, panoramic view of their finances to navigating the complexities of international expansion with precision and foresight, Curve is reworking the way people interact with their money. Shachar shares the intricacies of Curve's revenue model, where interchange fees, subscriptions, and platform revenue converge to create an ecosystem of financial empowerment. It's a model built on innovation, adaptability, and a pursuit of customer-centric solutions. But beyond the numbers and metrics lies a deeper story of personal motivation and resilience. As Shachar shares insights from his own journey, we gain a glimpse into the driving force behind Curve's success—a shared commitment to empower individuals to take control of their financial destinies. So, join us as we peel back the layers of Curve's story, uncovering the passion, vision, and sheer determination that have propelled this fintech to get to where it is today. Here’s my conversation with Curve’s Shachar Bialick

Untapped strategies to create Gen Z-friendly financial products: Publicis Sapient’s Mahesh Raghavan

zack.miller@gmail.com (Tearsheet Studios) — Thu, 11 Apr 2024 07:02:09 +0000

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. For the past 18 months, we’ve been exploring what it will take to really deliver financial services and products that resonate with Gen Z. As the biggest generation in history, getting this right can be an existential problem for certain types of FIs It won’t be easy. But according to Mahesh Raghavan, Associate Managing Director of Strategy at Publicis Sapient, it can be done using some untapped strategies used elsewhere in financial services and tech. Fresh from his session at the Tearsheet Gen Z Symposium in NYC, Mahesh is here to unveil some hidden gems of what it would take to build Gen Z-friendly financial products. Mahesh uncovers the often-overlooked strategies that could hold the key to captivating this discerning demographic. From personalized offerings to holistic loyalty initiatives, Mahesh shares five transformative tactics reshaping the financial landscape for the Zoomer generation. But the journey doesn’t end there. Mahesh guides us through the intricacies of peer-oriented engagement and intergenerational approaches, shedding light on Gen Z's financial mindset. Moreover, Mahesh underscores the importance of research, hypothesis, and experimentation in ensuring the viability of these strategies. In an era where innovation reigns supreme, Mahesh’s insights serve as a beacon of guidance for financial firms seeking to forge meaningful connections with Gen Z. So, dear listeners, join us for this interesting presentation as we unearth the latent potential of Gen Z-friendly financial products with Mahesh Raghavan. Read a write-up on Mahesh's talk here: https://tearsheet.co/banking/exploring-untapped-strategies-to-create-gen-z-friendly-financial-products-with-publicis-sapients-mahesh-raghavan

How U.S. Bank's innovation team tries to uncover the tech trends reshaping financial services

zack.miller@gmail.com (Tearsheet Studios) — Tue, 09 Apr 2024 07:11:42 +0000

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Today, we're joined by Don Relyea, the Chief Innovation Officer at U.S. Bank, and Todder Moning, who leads the bank's applied foresights practice. They've recently returned from scouring the halls of CES, the annual consumer electronics show, on a mission to uncover the latest trends and emerging technologies that could disrupt - or benefit - the financial services industry. From the rise of edge AI and machine vision capabilities that could enable personalized, privacy-preserving experiences, to sustainable innovations like water generation devices that challenge traditional infrastructure, Don and Todder share the diverse insights they gathered at this year's CES. You'll hear how the U.S. Bank innovation team is working to transform these market signals into strategic advantages for the bank. They'll explain how technologies first showcased in consumer products are reshaping customer expectations, and how the bank is preparing business leaders to adapt to this rapidly evolving landscape. By considering both the upsides and potential downsides of emerging innovations, the applied foresights practice is helping ensure US Bank stays ahead of - rather than chasing - the pace of change. So settle in, as we dive into the future-focused mindset that's guiding innovation at one of the country's largest banks. Let's get started.

How fintechs are reworking their tech and customer focus to get closer to Gen Z customers

zack.miller@gmail.com (Tearsheet Studios) — Thu, 04 Apr 2024 08:32:53 +0000

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. As we explore how financial services is attempting to cater to younger customers, it’s clear – some neobanks and fintechs resonate with Gen Z much more than traditional FIs. That may be because they have identified niche consumer groups and are thinking out of the box when it comes to designing products for them, according to Josh Stephens, SVP of Product at Current and Tony Tran, CEO and co-founder of Lumanu. Both these professionals – and the companies they’ve helped build – stand out among just a handful of financial services firms building their products and their services, designing their infrastructure, and establishing the channels to foster relationships with their clients today and into the future. Stephens and Tran joined me on stage for a fireside chat in March at Mastercard’s Tech Hub in NYC at our Gen Z Symposium, to talk about how their companies are catering to Gen Z. Our conversation explores the evolving standards banks have to meet when serving younger customers. We spend a good deal of time exploring the importance and design of good UX for today’s customers. We end with a discussion about how communities may be the way to educate and engage Gen Z. Here’s my conversation with Josh Stephens and Tony Tran.

'Having a relationship with Gen Z is good for banks’ immediate bottom lines': Greenlight’s Matt Wolf

zack.miller@gmail.com (Tearsheet Studios) — Mon, 01 Apr 2024 06:54:00 +0000

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Understanding how a system works is the first step to leveraging it to your advantage. However in an environment where just seven states provide excellent education in personal finance, younger generations like Gen Z are starting out at a massive disadvantage. But some fintechs like the family education and finance focused fintech Greenlight, have started to build products that aim to fill in this gap. The company’s financial literacy game Level Up offers children a chance to engage with personal finance topics in a fun, gamified environment. In this conversation, Greenlight’s SVP, Business Development, Matt Wolf, joins Tearsheet editor and founder Zack Miller, on stage at our Gen Z Symposium held on March 7th, 2024 in New York City. Wolf dives into the state of Gen Z’s financial literacy and their expectation that FIs should operationalize their position as a trusted source to better inform and educate the coming generation about personal finance. He also shares why this expectation is sometimes difficult for banks to meet fully and how partnerships can help ease some of the technical and business difficulties with building Gen Z-focused financial literacy products. The big ideas The gap in financial literacy: “What’s interesting is when you poll them [Gen Z], three out of four believe that they don’t currently have the skill sets they need, and they’re not confident in their skill.” Banks want to reach Gen Z but their attention is divided: “If it comes to, hey, can we talk about financial health, or can we talk about additional lending products, sometimes you’re gonna lose out on that.” Building for Gen Z means building for the future: “There’s an understanding that engaging in acquiring and having a relationship with that next generation is good for their immediate bottom lines. But just looking at the future societal consequences and their communities when people are making bad investments, if they’re being very loose with how they use credit, it’s going to be critical.”

Empowering the Gen Z Future: Bridging finance and sustainability with Eunice Jung

zack.miller@gmail.com (Tearsheet Studios) — Thu, 28 Mar 2024 06:48:54 +0000

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Next up, we have Eunice Jung, who is helping to encourage climate-smart lifestyles through fintech as Head of Partnerships at Future. Eunice is not your typical finance executive; she’s a recent grad on a mission to really rethink how we think about sustainability in our everyday lives. With a background in sustainability from Stanford, Eunice found her passion intersecting with finance at an early stage, leading her to spearhead Future’s innovative sustainable rewards platform. Eunice spoke recently at Tearsheet’s symposium on Gen Z in New York City. Eunice’s journey from student to executive is as inspiring as it is unconventional. Today, she shares her insights into the challenges and triumphs of bridging the gap between climate-consciousness and financial pragmatism. From her humble beginnings as an intern to shaping the future of finance for Gen Z and beyond, Eunice’s story is a testament to the power of determination and innovation. So, whether you’re a seasoned sustainability enthusiast or just dipping your toes into the world of climate-smart finance, join us as we uncover the possibilities that lie at the intersection of money and sustainability. Get ready to embark on a journey of discovery, inspiration, and actionable insights with our guest, Eunice Jung.

Navigating debit, credit, and digital influence with Mastercard's Bunita Sawhney

zack.miller@gmail.com (Tearsheet Studios) — Mon, 25 Mar 2024 06:05:58 +0000

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. This episode of The Tearsheet Podcast delves into the evolving financial landscape for Gen Z, focusing on their transition from debit to credit usage. Bunita Sawhney, Global Head of Consumer Products and Processing at Mastercard, shares insights from her presentation at the Tearsheet Gen Z Symposium, emphasizing the increasing role of women in financial decision-making. We explore Gen Z's preference for debit cards over credit cards, driven by factors like control and familiarity. Bunita highlights the importance of partnerships and innovative strategies to engage Gen Z, advocating for financial literacy initiatives and alternative credit-building solutions like installment plans and Buy Now, Pay Later options. The discussion also touches on Mastercard's collaborations with fintech firms like Greenlight and Juvo to promote financial education and inclusion among younger demographics. Ultimately, the podcast aims to shed light on the challenges and opportunities in catering to Gen Z's financial needs and preferences. The big ideas Gen Z's Influence in Financial Decision Making: "To this day, 90% of payment decisions or household buying decisions are made by or with women. And that's true for Gen Z as well. Over 25% of women say that they are the sole decision-maker in their household's financial decisions." Gen Z's Digital and Social Natives: "It is a really special moment, not only because we're on the cusp of International Women's Day, so happy International Women's Day to all of you. And I do like to think not only about the women in our company and how we serve and support them, but the women who we and our product support and serve as well, because I'll spend a minute on that as I transition us over into Gen Z." Preference for Debit Cards: "Debit is still the most accepted and the largest payment vehicle and the most consistently used all around the world. And that is true also for our Gen Z consumers. Why? Because it meets some of their critical needs, it meets their need for control, it meets their need for understanding and having control over their payments." Importance of Credit Building: "Credit doesn't have to revolve first of all, right? We know now with the advent and the absolute take-off of installment solutions, and buy now pay later solutions, that there's plenty of easy ways to have access to short, non-APR related ways to pay in four, pay in six without a fee or without an APR as an example." Financial Literacy and Education: "We know that 52% of Gen Z consumers worry about financial security. That's twice as much as the generations before them -- two times more worry." Partnerships and Innovation: "We're in a different place with a different level of information flow with a really curious group, that are finding ways to inform themselves through social platforms, as I said, and others through influencers, who we need to continue to partner with more so than ever." Here’s my conversation with Mastercard’s Bunita Sawhney.

Inside Adyen's approach to digital payments with Trevor Nies

zack.miller@gmail.com (Tearsheet Studios) — Tue, 19 Mar 2024 07:59:18 +0000

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Today we have an insightful conversation for you featuring Trevor Nies, senior vice president and global head of digital at Adyen, a leading financial technology platform renowned for its innovative contributions to the digital commerce landscape. This conversation was a fun one I recorded with Trevor as a Linkedin Live session. With extensive experience and expertise, Trevor plays a pivotal role in driving Adyen's strategic initiatives, particularly in payment solutions and empowering businesses to thrive in the ever-evolving realm of modern commerce. At Adyen, Trevor leads efforts to develop solutions that address the complexities of digital transactions and provide businesses with the tools they need to navigate the intricacies of the modern marketplace. With a focus on enhancing payment experiences and streamlining operations, Adyen's digital commerce solutions are reshaping the way businesses engage with customers and drive sales in today's dynamic ecosystem. Join us as we delve into Adyen's strategic vision, exploring the company's commitment to innovation and its impact on shaping the future of commerce. Through this conversation, we aim to uncover the transformative power of Adyen's digital commerce solutions and gain valuable insights into the evolving landscape of payments and consumer behavior. Before we dive into today's episode, I’d like to give a shoutout to our sponsor, StrawberryFrog. StrawberryFrog has been hailed as the very best in creative marketing, innovations, and transformation for financial brands worldwide. Working with iconic names like Morgan Stanley, Truist, First Abu Dhabi Bank, and many others, they've set the standard for excellence. I’ve particularly enjoyed covering the firm’s ability to enact movements within these organizations that infuse their brands with real purpose that employees and customers can get behind. So, whether you're a financial giant or a tech disruptor, StrawberryFrog is your go-to partner for activating brand purpose and driving transformative movements. Learn more about their groundbreaking work at strawberryfrog.com. Without further ado, let's enter this dialogue and uncover the implications of Adyen's strategic initiatives in the realm of digital commerce.

Empowering merchants with Citi Pay: A dive into embedded payments with Terry O'Neil

zack.miller@gmail.com (Tearsheet Studios) — Wed, 13 Mar 2024 23:09:19 +0000

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Today, I’m thrilled to bring you an exclusive conversation with Terry O'Neil, a payments leader at Citi responsible for spearheading embedded payments and strategic initiatives. Terry provides insights into Citi's approach to embedding a wide array of financial products, including payment solutions, private label offerings, and lending products, directly into the fabric of merchants' point-of-sale systems. Join us as we unravel the complexities of streamlining integration processes for merchants, meeting evolving consumer demands for flexibility and choice, and navigating the convergence of physical and digital commerce. Get ready for an engaging exploration of how embedded payments are impacting the way businesses engage with customers and drive sales. Without further ado, let's embark on this captivating journey into the realm of embedded payments.

Unleashing the power of brand purpose in financial services with StrawberryFrog

zack.miller@gmail.com (Tearsheet Studios) — Tue, 12 Mar 2024 11:56:08 +0000

In the dynamic landscape of financial marketing and transformation, few figures stand out as prominently to me as Scott Goodson, CEO, and Chip Walker, Head of Strategy, at StrawberryFrog. I’ve spoken to these guys a few times over the years and they just get it. StrawberryFrog has been called the very best creative marketing, innovations, and transformation company in the world for financial brands, having worked with some of the most iconic financial brands including the largest banks such as Morgan Stanley, Truist, First Abu Dhabi Bank. SunTrust, Bank of America, Bank of Montreal, Harris Bank, Credit Suisse as well as tech brands like AfterPay and Thrive Global. We’re here to talk about activating brand purpose – throughout my conversation with Scott and Chip, we'll uncover the power of purpose in driving organizational change, how leaders can effectively activate purpose within their companies, and the impact of purpose-driven movements on both internal culture and societal change. From real-world examples to actionable strategies, get ready to gain valuable insights that can help transform your approach to leadership, marketing, and beyond. So grab your headphones and join us on this insightful journey into the heart of purpose-driven branding and leadership. Let's dive in! Here’s my conversation with StrawberryFrog’s Scott Goodson and Chip Walker. The big ideas Purpose-Driven Movements: The core concept discussed throughout the conversation is the idea of purpose-driven movements. These movements serve as powerful tools for organizations to not only differentiate themselves but also to address societal issues, engage employees, and drive meaningful change. Global Perspective and Experience: Scott and Chip's extensive international experience underscores the importance of a global perspective in understanding consumer behavior, market dynamics, and cultural nuances. This broad view enables them to develop effective strategies for global brands and navigate challenges across diverse markets. Leadership's Role in Purpose Activation: Effective leadership is essential for activating purpose within organizations. Leaders who embrace curiosity, openness, and a willingness to align personal purpose with corporate purpose can inspire employees, drive engagement, and spearhead movements that lead to tangible results. Closing the Purpose Gap: The purpose gap highlights the importance of ongoing activation and alignment of purpose throughout the organization. Closing this gap requires sustained effort, engagement, and co-authorship at all levels to ensure that purpose remains central to organizational culture and strategy. Movement Thinking in Marketing Strategy: Movement thinking offers a strategic approach to marketing that goes beyond traditional advertising tactics. By weaving purpose into storytelling and leveraging diverse platforms, brands can create multi-layered narratives that captivate audiences, drive engagement, and foster advocacy. Impact on Organizational Culture: Purpose-driven movements have a profound impact on organizational culture, fostering a sense of belonging, empowerment, and shared values among employees. When purpose is embedded in the fabric of an organization, it drives alignment, collaboration, and innovation. Societal Impact and Change: Beyond organizational benefits, purpose-driven movements have the potential to drive significant societal change. By addressing pressing issues such as mental health, financial literacy, and societal inequalities, brands can become catalysts for positive social impact and contribute to a more sustainable and equitable world.

Argyle's Shmulik Fishman on the firm's recent Series C and the future of payroll connectivity

zack.miller@gmail.com (Tearsheet Studios) — Thu, 07 Mar 2024 09:00:03 +0000

Today, we have a special guest joining us—Shmulik Fishman, CEO of Argyle. I’ve spoken to Shmulik a few times over the years and it’s been really interesting to see how early he was to the space he’s playing in, as well as the impact Argyle is having on financial services. The firm’s recent investment round I think speaks to that. Argyle has been at the forefront of digital income verification, transforming how lenders, mortgage processors, banks, and fintechs verify income. In this episode, We’ll explore Argyle’s mission to enhance data completeness and streamline user experience through payroll connectivity. We’ll dive into Argyle’s recent Series C fundraising, Shmulik’s and Argyle’s vision for the future of payroll connectivity, and the impact they’re making in the financial services industry. Without further ado, let’s jump right into the conversation. The big ideas Argyle’s Mission and Accomplishments: Shmulik highlights Argyle’s mission and recent achievements, positioning the company as a leader in digital income verification. “Argyle is a digital income verification tool…The big news is that we just closed our Series C, we have an additional $30 million capital…This mark, sort of the 100 million dollars in capital raised, I think it’s really important.” Disruption of Outdated Processes: The conversation underscores how Argyle is disrupting traditional, paper-based processes with its innovative solutions, offering ease of use and security for consumers and lenders alike. “For too long, outdated processes have plagued industries like renting, lending, and mortgage processing, requiring consumers to deal with cumbersome paperwork. With Argyle, we’re changing that narrative…” Partnership with Rockefeller Asset Management: Shmulik discusses the significance of Rockefeller Asset Management joining Argyle’s board, highlighting the alignment of visions and the potential for greater impact. “Rockefeller asset management’s entry into our board brings a wealth of experience and resources, aligning perfectly with our mission to build an enduring business.” Focus on Payroll Connectivity: The podcast emphasizes Argyle’s focus on payroll connectivity and how it’s reshaping the landscape of income verification, setting new standards in the industry. “Payroll connectivity is at the heart of what we do at Argyle…we’re empowering lenders to make faster, more informed decisions while enhancing the user experience for consumers.” Client-Centric Approach: Shmulik highlights Argyle’s client-centric approach, emphasizing the importance of partnerships and customized solutions tailored to clients’ needs. “Our priorities moving forward revolve around enhancing the user experience, improving data completeness, and exploring new verticals where income verification can make a significant impact.”

Behind the creation of Current's new credit builder card

zack.miller@gmail.com (Tearsheet Studios) — Fri, 01 Mar 2024 06:07:35 +0000

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller And for today’s episode, we're embarking on an insightful journey with two professionals I consider as visionaries – we’ve spoken a few times over the years – They’re the co-founders at the helm of Current, a pioneering neobank based in the heart of New York City. Joining us are Stuart Sopp, CEO and co-founder of Current, and Trevor Marshall, the CTO and co-founder, both instrumental in helping to shape the landscape of modern banking for everyday Americans. Recorded in September of 2023, we dive deep into the genesis of Current’s latest product, the Credit Builder Card. But beyond that, we'll explore the broader trends impacting financial services and its customers. From the impact of inflation and rising interest rates to the evolving needs of Gen Z consumers, we'll dissect the challenges and opportunities facing today's banking industry. Here’s my conversation with Current’s Stuart and Trevor. The big ideas Addressing the Need for Credit Building in a Changing Economic Landscape: "We saw a crucial need to help our members build credit effectively. The Credit Builder Card emerged from our deep understanding of our customers' needs and the changing economic climate." - Stuart Seamless Integration of Financial Products into Users' Lives: "We wanted to create a product that seamlessly integrates into our members' lives, offering a solution that not only builds credit but also enhances their banking experience with us." - Trevor Emphasis on Financial Education and Behavior Change: "We've really guided users towards adopting the best behaviors, the best possible practices to ensure that they are really getting the biggest benefits out of the product." - Trevor Accessibility and Inclusivity in Banking Products: "Our data suggests that there's strong interest across various demographics, including Gen Z. By offering a product that combines accessibility, education, and value, we're breaking down barriers to credit building and empowering all our members to achieve their financial goals." - Stuart Continuous Improvement and Focus on Long-term Relationships: "We're focused on continuous improvement, ensuring that we deliver unparalleled value to our members while driving towards profitability. Additionally, we're exploring new avenues for lending and business model innovation to further support our mission of financial empowerment." - Stuart Adapting Technology to Enhance User Experience and Financial Services: "We've built into our own core stack. So all of the products and services that we build can talk to each other. And that's in both our live production systems and our analytics and downstream customer data platform." - Trevor Anticipating and Preparing for Future Shifts in Financial Paradigms: "We are well prepared for both sides of that equation. We are early, as we always are, but we are well prepared for both sides of that equation." -

Scaling with Purpose: The Brex blueprint for growth with Karan Anand

zack.miller@gmail.com (Tearsheet Studios) — Tue, 27 Feb 2024 08:00:32 +0000

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. In today's conversation, I chat with Karan Anand, President at Brex. Brex has undergone a remarkable transformation over the last two years, evolving from a fintech startup with a corporate card for startups to a global fintech and enterprise SaaS company in corporate spend. Recently appointed to the new role of president, Karan gives us a window into this journey, shedding light on the challenges and successes that come with building both a fintech and SaaS business concurrently – it was like the firm had two entirely separate companies while they were building out the corporate spend side of the business. We delve into topics ranging from the cultural hurdles faced during this shift, the intricacies of scaling, and the unique challenges and opportunities that arise in the payments and software space. Whether you're deeply embedded in the fintech and SaaS world or simply curious about the evolution of innovative companies, this conversation with Karan is packed with valuable insights. So, without further ado, let's jump into the conversation and explore the dynamic landscape of financial technology and enterprise software with Karan Anand, President at Brex.

Gen Z invests for reasons that are completely different from previous generations

zack.miller@gmail.com (Tearsheet Studios) — Fri, 23 Feb 2024 06:00:52 +0000

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Actually, I’m your co-host today – joining me is Rabab Ahsan, Tearsheet reporter. Rabab has been doing a bang-up job recently covering the intersection of Gen Z and financial services, from her reporting to her contributions to our 2 seminal reports on the subject which you can find at steezlife.co. One place Gen Z diverges from generations that came before it is in investing. For example, research shows that younger folks invest for completely different reasons than previous generations. It’s not about financial status for Gen Z – it’s about a better quality of life. Values also play a big role in investment decisions, as Gen Z tends to put its money where their values are. Actually, there are a whole bunch of important topics here that require some understanding if you want to do better providing investment services and advice to Gen Z. To do that, Rabab and I are joined by Dr. Julie O’Brien, head of behavioral science, and Rob Haworth, senior investment strategist at US Bank. We dig deeper, discussing recent research Dr. O’Brien authored that looks to better understand the investment needs and behaviors of Gen Z. It’s an interesting conversation – glad you’re joining us. And, speaking of joining us, Tearsheet is hosting our first symposium on Gen Z and financial services. It’s March 7 in NYC at Mastercard’s Tech Hub. It’s an intimate group of financial services professionals really exploring what it means to build lovable financial products and services for Gen Z. You can find more information about it on our website – just click on events and apply for a ticket. Here’s our conversation with US Bank’s Dr. Julie O’Brien and Rob Haworth.

Unlocking access to top asset managers: The Securitize story with Jamie Finn

zack.miller@gmail.com (Tearsheet Studios) — Fri, 16 Feb 2024 08:01:01 +0000

Welcome to the Tearsheet Podcast where we explore the future of financial services with an eye on technology, new models, innovation, and changing expectations. I’m Tearsheet editor in chief, Zack Miller. In the early days of Tearsheet over 10 years ago, we spent more time covering private markets for assets. Remember back, that was the crowdfunding and equity crowdfunding era. There was a view that this massive market, arcane in structure and available to the wealthy, would be opened up by tech and some regulatory changes and that a dentist in Chicago would get access to the same deals Blackstone and Andreesen Horowtiz were investing in. So, it doesn’t feel like equity crowdfunding really lived up to the hype but the market continues to grow and mature. Most of the big wins come not from investing in individual companies but in funds. Jamie Finn, co-founder and president of Securitize, joins me on the podcast to talk about where we are with investing in privately held companies and funds. His firm’s platform, Securitize, enables smaller investors to tap into some popular private equity funds directly and through secondary transactions. Behind the scenes, Securitize is doing this on the blockchain. It’s not something Jamie explains right away – it seems to be something they’ve built out but the main pitch is on alternative assets and not necessarily on the fact that these have been designed as digital assets. Jamie shares the genesis of the company and how he sees the market for alternative assets maturing in the future. Securitize’s Jamie Finn is my guest today on the Tearsheet Podcast.

Navy Federal Sonic Branding Example

zack.miller@gmail.com (Tearsheet Studios) — Sun, 04 Feb 2024 20:39:29 +0000

The heart of today's episode is a topic that's both innovative and harmonious—sonic branding. We'll embark on a fascinating journey of the power of creating ear worms to support financial services marketing, guided by two remarkable guests. Michelle Schoening, AVP, Marketing Communications & Design at Navy Federal Credit Union joins us to talk about the largest credit union in the US;s journey to create its sonic logo – we’ll get into the who, what, why, and how, as well as explore the impact the new sonic branding has had on Navy Federal and where Michelle and her team plan to take it. T To properly dive into this subject, I’m also joined by Elizabeth Kasper, VP, Managing Director, Head of Client Success of Made Music Studio, a sonic branding agency that, in addition to its collaboration with Navy Federal, has worked with brands like Tostitos, Lexus, and Forbes. Together, we’ll unravel the narrative behind Navy Federal's foray into the realm of audio branding. Imagine the largest credit union exploring a dimension beyond numbers, creating a sonic identity that resonates with its members. I find this stuff fascinating. This episode isn't just about finance; it's about the intersection of art and branding, where every note and beat tells a story. So, whether you're a financial wizard or a music aficionado, you're in for a treat. But first, a moment to express our appreciation for your ongoing support. Your feedback and engagement drive us to bring you the most insightful content. If you appreciate the work we do here on the Tearsheet Podcast, please consider giving us a good rating in your podcast player. Now, without further ado, grab your headphones and get ready to explore the intersection of finance and sound on this episode of the Tearsheet Podcast. Read/listen to the whole podcast: https://tearsheet.co/podcasts/how-navy-federal-created-a-new-sonic-brand/

How Navy Federal created a new sonic brand

zack.miller@gmail.com (Tearsheet Studios) — Sun, 04 Feb 2024 17:58:11 +0000

The heart of today's episode is a topic that's both innovative and harmonious—sonic branding. We'll embark on a fascinating journey of the power of creating ear worms to support financial services marketing, guided by two remarkable guests. Michelle Schoening, AVP, Marketing Communications & Design at Navy Federal Credit Union joins us to talk about the largest credit union in the US;s journey to create its sonic logo – we’ll get into the who, what, why, and how, as well as explore the impact the new sonic branding has had on Navy Federal and where Michelle and her team plan to take it. T To properly dive into this subject, I’m also joined by Elizabeth Kasper, VP, Managing Director, Head of Client Success of Made Music Studio, a sonic branding agency that, in addition to its collaboration with Navy Federal, has worked with brands like Tostitos, Lexus, and Forbes. Together, we’ll unravel the narrative behind Navy Federal's foray into the realm of audio branding. Imagine the largest credit union exploring a dimension beyond numbers, creating a sonic identity that resonates with its members. I find this stuff fascinating. This episode isn't just about finance; it's about the intersection of art and branding, where every note and beat tells a story. So, whether you're a financial wizard or a music aficionado, you're in for a treat. But first, a moment to express our appreciation for your ongoing support. Your feedback and engagement drive us to bring you the most insightful content. If you appreciate the work we do here on the Tearsheet Podcast, please consider giving us a good rating in your podcast player. Now, without further ado, grab your headphones and get ready to explore the intersection of finance and sound on this episode of the Tearsheet Podcast. Get a transcript of this podcast: https://tearsheet.co/podcasts/how-navy-federal-created-a-new-sonic-brand/

'Americans spend $170 billion a year just waiting for their next paycheck': Rain's Alex Bradford

zack.miller@gmail.com (Tearsheet Studios) — Wed, 31 Jan 2024 06:27:09 +0000

One of the biggest trends that we’ve seen over the past 2-3 years is the emergence of early wage access, giving primarily gig and hourly workers access to their income on demand, as opposed to the hard-coded dates of a traditional payment cycle. Rain’s Alex Bradford joins me on the podcast to talk about what’s driving the demand for EWA and how Rain is challenging the status quo of some of hte larger players in the space. Rain works with some of the largest middle market and enterprise companies to provide EWA as a wellness benefit to hundreds of thousands of employees in the U.S. The company recently raised $116 million and claims it’s growing 10% every month. Alex also shares his view on where earned wage access is headed and who are likely to be the winners in the market. Here’s my conversation with Rain’s Alex Bradford

From AI to Blockchain: Mastering payment tech with Mastercard CTO, Ed McLaughlin

zack.miller@gmail.com (Tearsheet Studios) — Mon, 29 Jan 2024 10:00:16 +0000

Welcome to the Tearsheet Podcast where we explore the future of financial services with an eye on technology, innovation, emerging models and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. One of the tenets we founded this podcast and everything we do at Tearsheet – our reporting, conferences, awards programs, even our new Working Groups – is honesty. Honesty in what’s really important and impactful to you, our listeners and readers. It’s why we don’t use language like “revolutionary” or “seamless”. This stuff isn’t easy to get right. I’ve been in the rodeo long enough to see fads come and go with no lasting impact. We actually see it as one of our jobs – being able to distinguish wheat from chaff, sizzle from stake – to help you focus on what’s really important and tune out the rest. Remember the hype around chatbots a few years ago? Or crypto? Certainly we weren’t there before, but are we there now? How do we even think about quantum? I’m joined by Mastercard’s president and CTO Ed McLaughlin today. I wanted to ask him what he thinks about three particular trends and sets of technology. Specifically, how do we size up the impact on payments of AI, quantum computing, and crypto? You’ll hear Ed’s deep experience in product and tech and how one of the senior most professionals in financial services can cut through the hype to find opportunity in cutting edge technology, focusing his and Mastercard’s resources on what will be impactful now and in the future. In the course of our conversation, McLaughlin provides some frameworks about how to approach new technology in an honest way and. I appreciate his honesty around his process and his sharing of his impact assessment of new technologies. Here’s my discussion with Mastercard’s Ed McLaughlin.

Inside American Express' strategic move into business banking with Gina Taylor

zack.miller@gmail.com (Tearsheet Studios) — Wed, 24 Jan 2024 06:53:43 +0000

Welcome to the Tearsheet Podcast, where we explore the future of financial services with an eye on technology, innovation, new models, and changing expectations. I’m Tearsheet editor in chief, Zack Miller. I don’t know if you’ve noticed but American Express over the past couple years has moved decisively into banking small businesses. We’ve definitely tried to track this evolution for the firm because it isn’t trivial – not for the firm and not for its customers. So, it’s not just an up-market card with a revolver. Today’s Amex offers a business checking account and cash flow monitoring that serves more and more as a firm’s homebase, a dashboard. Gina Taylor, Amex’s Executive Vice President and General Manager of Business Blueprint and Banking, joins me on the show to discuss the inspiration behind the launch of American Express Business Checking and how it aligns with the company’s vision for supporting small businesses. Importantly, beyond the no monthly fees and earning rewards, Gina shares what she sees are the key value propositions American Express Business Checking offers to differentiate itself in an increasingly crowded market. Here’s my conversation with American Express’ Gina Taylor.

Behind the launch of Paze with Early Warning's James Anderson

zack.miller@gmail.com (Tearsheet Studios) — Tue, 16 Jan 2024 06:10:02 +0000

Welcome to the Tearsheet Podcast, where we explore the future of financial services with an eye toward technology, new models, innovation, and changing expectations. When Early Warning launched Zelle in 2017, it seemed a very big mountain to climb. For a bank-backed P2P payments app to replace or at least compete with Venmo seemed unbelievable. Venmo was clearly one of the most popular consumer fintech apps. But if you look at the growth today, Zelle slowly but surely surpassed PayPal’s favorite brand. In early 2023, Zelle had 120 million customers with 69 million monthly unique Zelle users. Venmo, which launched more than a decade ago, had 90 million active accounts, with 60 million being active monthly. It took time but it shows the massive power of bank distribution. Early Warning and its banking partners are back with a new digital wallet called Paze. Of course there are more popular digital wallets on the market. Will the power of bank distribution propel Paze’s growth in the market the way it did with Zelle? Joining me on the show is Early Warning’s Head of Paze, James Anderson. We discuss everything about Paze – from its conception to functionality, from its features to its distribution. James discusses whether the world needs another digital walle and whether consumers will be open to using a service like this offered from their bank. What will it take to get Paze integrated into merchant checkout? It’s all about creating supply and demand in a two-sided marketplace and James is on it. Here’s my conversation with Paze’s James Anderson.

How Affirm and Credit Karma make products Gen Z loves

zack.miller@gmail.com (Tearsheet Studios) — Fri, 12 Jan 2024 06:47:00 +0000

Welcome to the Tearsheet Podcast, where we navigate financial services together, with an eye on technology, innovation, new models, and changing expectations. I’m Tearsheet editor in chief, Zack Miller. This is the final episode in our special podcast series on Gen Z, where we explore the fascinating Gen Z deeper: their relationship with money, how they like to save, spend, and borrow money, their fears and aspirations, and their connections to social issues. On this episode, we’re going to be talking about creating products that Gen Z loves. To do that, I’m joined by two of the best product people in the business: Girish Balasubramanian, VP of Product Management at Credit Karma, and Vishal Kapoor, Head of Product at Affirm. Together, we peel back the onion on how these two firms strategize and tailor their products to resonate with the values, preferences, and financial behaviors of Gen Z consumers – and how this may different from other demographics. We also discuss the importance of financial literacy as an enabler for this generation to get on the financial responsibility train. Data plays a role here and we explore how to get the unlock to help Gen Z onboard to different financial products, responsibly and ethically. Tearsheet thanks our sponsor Publicis Sapient for their support. Read more and download customer research about Gen Z and financial services at www.steezlife.Co And before we jump into our conversation about building products Gen Z loves, I wanted to let you in on something we’re working on right now. We’re currently recruiting financial services professionals to work on this very topic – building products Gen Z loves. We’ve heard from you and in our reporting that figuring out how to service younger customers is growing increasingly important for your business. We want to facilitate making that happen. We’re hosting a series of working groups for professionals across the industry to communicate, collaborate, and tackle how to do this. Our group has senior executives from Citi, Synchrony, SoFi, UBS, Worldpay, US Bank, and more. Go to library.tearsheet.co/outlier to get more information. We have a couple spaces left and if you’re motivated, we’d love to have you join us.

What to expect in financial services in 2024 with i2c's Serena Smith.

zack.miller@gmail.com (Tearsheet Studios) — Wed, 10 Jan 2024 06:27:35 +0000

Welcome to the Tearsheet Podcast, where we navigate financial services together. We explore the future of financial services with an eye on technology, innovation, new models, and changing expectations. I’m Tearsheet editor in chief, Zack Miller. In today's episode, we dive into the dynamic world of financial institutions and their strategies for the year 2024. I’m thrilled to have had the opportunity to sit down with Serena Smith, Chief Client Officer at i2c, whose next-gen platform empowers financial institutions and fintechs of all sizes with no-code building block technology. Throughout our conversation, Serena shared insights garnered from her extensive experience and global perspective in the industry. From navigating the challenges faced by fintechs to addressing legacy technology obstacles within traditional banking, we explore the ever-evolving landscape of financial services. Serena's expertise sheds light on the trends shaping 2024, including the significance of real-time payments, the role of AI in financial services, and the critical need to meet the expectations of younger, digitally native generations like Gen Z and Gen Alpha. We also unpack i2c's innovative approach with a unified tech stack, empowering financial institutions to streamline their services across diverse geographies. Check out i2c's recent report on how younger customers make credit decisions. Download it here: https://www2.i2cinc.com/report-the-credit-economy?utm_source=Tearsheet&utm_medium=Referral&utm_campaign=The+Credit+Economy%3A+Tearsheet Join us as we delve into the opportunities, challenges, and transformative potential that lie ahead for financial institutions in the fast-paced world of 2024. Without further ado, let's delve into our enlightening conversation with Serena Smith.

How Citi is rising to meet increased global demand for faster payments with Scott Damassa

zack.miller@gmail.com (Tearsheet Studios) — Thu, 04 Jan 2024 07:54:46 +0000

Welcome to the Tearsheet Podcast, where we explore the future of financial services with an eye toward technology, new models, innovation, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. One of the themes we’ve been charting over the past couple of years is the impact of moving to a world defined by real time – or close to real time – financial services. Real time payments isn’t just a tweak, a turning of the speed dial – it actually changes value propositions, expectations, and risk management the financial services industry has with its clients, both consumer and commercial. What’s also interesting is that as business becomes more global, the larger banks have moved in the opposite directions, for the most part backing away from becoming global banks, entrenching themselves in specific markets. Citi remains one of the few that maintains this positioning of being global. And as a global organization, Citi works has businesses with international aspirations through its Treasury and Trade Solutions Group. TTS is a rising star in CEO Jane Fraser’s plan to steer the bank forward. She actually called it a thing of beauty in a recent earnings call. I’m joined by Scott Damassa, Managing Director and Global Head of Sales for eCommerce, Technology, and Communications at Citi. Scott has had an upfront and close look at the needs of global companies and what they’re really looking for from their financial services providers. And speed seems to be near the top of all lists. We talk about the significance of speed in payment processing across different industries and how it can impact both clients and companies. Scott also shares what specific benefits he’s observed when organizations prioritize speed in payment processing. We discuss the importance of multi-stakeholder partnerships in servicing global organizations and how FIs and fintechs can best collaborate. Our conversation is interesting in that it’s about the present – but also the future – of Citi itself, as the firm formulates messaging around being a global partner bank for fintech and other tech firms. Here’s my discussion with Citi’s Scott Damassa.

Tearsheet Talks: Lena Vann, Head of RESL Product & Risk Management, TD Bank

zack.miller@gmail.com (Tearsheet Studios) — Tue, 02 Jan 2024 09:45:45 +0000

Lena Vann is SVP of Real Estate Secured Lending (RESL) Product & Risk Management at TD Bank. This fireside chat will focus on the evolution of lending to communities of color since the inception of mortgages to present day, from the unique and personal perspective of someone who grew up in a disenfranchised, urban community and later joined the industry. Lena Vann, Head of Real Estate Secured Lending (RESL) Product & Risk Management at TD Bank, will highlight the progress made, today's economic challenges, and how they impact the attainability of homeownership for minorities. She'll also provide an outlook on what can make the mortgage process more inclusive while balancing risk appetite, regulatory requirements, and other lender considerations. Lena is a seasoned leader with expertise in mortgage and home equity product management, operational risk management, enterprise and credit risk management. As SVP of Real Estate Secured Lending (RESL) Product & Risk Management for TD Bank, she is responsible for the end-to-end product lifecycle, portfolio strategy, and first line credit management oversight of all mortgage and home equity lending activities.

How Gen Z shops and how financial services can help

zack.miller@gmail.com (Tearsheet Studios) — Tue, 19 Dec 2023 05:41:59 +0000

Welcome to the Tearsheet Podcast, where we discuss the intersection of financial services and technology. In today's episode, we have a thought-provoking conversation with Jason Wilk, the founder and CEO of Dave, a neobank impacting the way Americans approach banking. Join us as Jason shares insights into Dave's mission, one that aims to level the financial playing field by providing free basic banking services to everyday Americans. Discover how Dave is at the forefront of catering to Gen Z's financial needs, with nearly half of its user base falling within this demographic. In this episode, we explore the innovative features that set Dave apart, from interest-bearing checking accounts to income-generating opportunities and a unique approach to credit access between paychecks. Jason delves into the company's strategies for integrating financial literacy directly into their products and services, aiming to empower users to make informed financial decisions seamlessly. We also uncover how Dave leverages new technologies, such as AI-driven customer support, and embraces social commerce trends, including influencer marketing, to resonate with and educate a generation inundated with financial information through social media platforms. Join us as we explore the future of banking, financial literacy, and the intersection of technology and finance with Jason Wilk, offering a glimpse into the innovative strategies driving Dave's success and its impact on shaping the financial habits of Gen Z. The big ideas Dave's Mission and Offerings: "We're on a mission to build products that level the financial playing field. At our core, we believe that basic banking should be free for everyday Americans." Key points: Offering free checking and savings accounts with no fees or interest, specialized access to credit between paychecks without interest or credit checks. Gen Z Engagement: "Nearly half our customers are Gen Z... We're very heavy on social media, influencer advertising, and we really speak to this generation." Key points: Heavy focus on social media and influencer marketing, addressing Gen Z's desire for reduced costs and increased access to credit. Features Catered to Gen Z: "Features like a checking account with 4% API, income-earning opportunities, surveys, and overdraft cash advance without interest." Key points: Interest on checking accounts, side hustles, surveys for earnings, and overdraft cash advance without interest or credit checks. Financial Literacy Integration: "Baking financial literacy into the product... insights into true spending power and charging $1 a month for financial insights." Key points: Providing simplified credit products, real-time insights into financial status, and integrating financial literacy into the product. Technological Innovation and Social Commerce: "Investing in AI customer support... Aligning with social commerce trends and leveraging influencer marketing." Key points: Focus on AI customer support for real-time assistance, alignment with social commerce trends, and leveraging influencer marketing for financial advice dissemination.

Exploring the future of credit with Marqeta's Simon Khalaf

zack.miller@gmail.com (Tearsheet Studios) — Tue, 12 Dec 2023 05:58:32 +0000

In this Tearsheet Live, Marqeta CEO Simon Khalaf will dive into the credit space, discussing why there’s been such little innovation in credit cards in decades, and what’s on the forefront for innovation in credit technology. He’ll share what this means for brands hoping to reimagine how they foster customer loyalty, and for consumers who are increasingly savvy about using credit to further their financial goals. Simon will also discuss how embedded finance will fuel the growth of credit for brands seeking a new “homepage” of their digital experience. See the whole transcript of this conversation: https://tearsheet.co/?p=58080

How Gen Z likes to get paid with DailyPay, Wise, and Amex

zack.miller@gmail.com (Tearsheet Studios) — Wed, 06 Dec 2023 07:30:01 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor, Zack Miller. This episode of the podcast explores how Gen Z interacts with financial services. We explore Gen Z's digital nature, their preferences for convenience, and their global outlook. The conversation touched on various financial tools and solutions offered by respective institutions to cater to Gen Z's needs. We discuss the importance of financial literacy, transparency, and authenticity in engaging and educating this generation about financial wellness. Additionally, we delve into topics such as cross-border remittances, early wage access, and the evolving landscape of financial technology and services for Gen Z. This conversation is part of a special podcast series where we explore the fascinating Gen Z deeper: their relationship with money, how they like to save, spend, and borrow money, their fears and aspirations, and their connections to social issues. Joining me on this episode is Brett Sussman, VP Head of Sales & Marketing at American Express, Business Blueprint & Banking, Ankita Dmello, Senior Product Manager at Wise, and Rob Nardelli, Director of Commercial Banking and Strategic Partnerships, at DailyPay. Tearsheet thanks our sponsor Publicis Sapient for their support. Read more and download customer research about Gen Z and financial services at www.steezlife.co Now, let’s talk about Gen Z and their connection with financial services

'The Chief Data and Analytics Office is a team sport': Vanguard's Ryan Swann

zack.miller@gmail.com (Tearsheet Studios) — Fri, 01 Dec 2023 09:18:59 +0000

Welcome to the Tearsheet Podcast, where we explore the dynamic intersection of data, finance, technology, and innovation. I’m Tearsheet’s editor in chief, Zack Miller. In today's episode, we dive deep into the world of data-driven decision-making with Ryan Swann, the Chief Data and Analytics Officer at Vanguard. At Vanguard, Ryan leads the charge in leveraging data analytics, AI, and machine learning to empower investors towards financial success. With a career spanning over two decades in this evolving field, he shares invaluable insights on the transformational journey Vanguard has undergone in centralizing their data and analytics functions. In our conversation, Ryan unveiled the challenges and triumphs encountered along the path of centralization, shedding light on the pivotal role of aligning data strategies with the overarching business objectives. His vision of combining offensive strategies—such as hyper-personalization and Gen AI—with defensive approaches like privacy by design sets the stage for Vanguard's forward momentum in 2024. Join us as we explore the dynamic fusion of finance and data science through the lens of Ryan Swann, offering a wealth of expertise and foresight in Vanguard's data revolution. The big ideas 1. Centralization for Efficiency and Business Alignment "Yeah, initially, Vanguard had data and analytics teams across the business creating value, but we wanted to scale the use of data analytics... so that's where the impetus came to centralize." 2. Challenges of Centralization and Organizational Shifts "In a decentralized organization, data professionals see very little career pathing... As data and analytics become more integrated, it becomes harder to retain talent." 3. Balancing Centralization and Business Integration "We brought those organizations together but kept them co-located with the business... they still got that close touchpoint with the business." 4. Impact on Career Development and Talent Attraction "By centralizing in the CDO, those data analytics professionals now have a career path... it allows them to rotate into different parts of the business." 5. Diverse Talent and Its Impact on Innovation "Individuals from different backgrounds bring that knowledge into data science... you end up with solutions that you would have never thought of." 6. Value Creation and Cost Savings through Data Initiatives "Over the year, we had a number of initiatives across the organization... it's a combination of things, but it's coming together as an organization." 7. Vision for 2024: Convergence of Offensive and Defensive Data Strategies "Combining offensive strategies like hyper-personalization with defensive approaches like privacy by design... sets the stage for Vanguard's forward momentum."

The state of bill pay with Solutions by Text’s Nick Babinsky

zack.miller@gmail.com (Tearsheet Studios) — Wed, 29 Nov 2023 07:49:49 +0000

On this Tearsheet Live, I'm joined by Nick Babinksy, Chief Product Officer at Solutions by Text. We're going to be talking about the state of bill pay, digital payment trends, and growing demand for text. The big ideas Shift Towards Text-Based Interactions: The trend is moving towards simplicity and convenience in bill payments, leveraging text-based interactions for ease and engagement."Text-based interactions offer simplicity and convenience in an era of overwhelming digital experiences." Challenges in Bill Payments: Consumers predominantly make one-time payments, leading to implications in consumer support and reminder strategies for providers."The majority of consumers are still paying bills on a one-time basis, posing challenges for providers in supporting these manual transactions." The Power of Text for Payments: Text messaging, being a ubiquitous and normalized experience, presents an opportunity for seamless and simplified bill payments."Thinking about the bill pay experience over text enamored me; it's the most simplistic form of transacting with billers." Balancing Simplicity with Compliance: Tailoring messages for consumers while adhering to regulatory compliance forms the crux of an engaging yet controlled messaging approach."The balance lies in being engaging while ensuring compliance in messaging, enabling faster conversions and higher engagement." Consumer Engagement and Advice: Consultative approaches towards consumer engagement, educating and guiding them for better financial practices, foster brand loyalty."Consulting consumers on managing their money or paying bills leads to more brand loyalty and engagement." Text Adoption Across Generations: While younger demographics easily adopt text for payments, the trend is extending to older generations seeking simplicity in interactions."Text adoption spans generations; it's less intimidating than logging into websites, making it a winning strategy for engagement." Text Channel Development: Text messaging as a channel is evolving, with advancements in opt-in regulations and efforts to maintain a less noisy, more direct consumer interaction."Text channels are evolving with opt-in regulations, aiming for direct, less noisy consumer interactions."

‘If you get Gen Z right, it will build your bank for the future’: Citizens Bank’s, Brendan Coughlin

zack.miller@gmail.com (Tearsheet Studios) — Tue, 21 Nov 2023 09:20:35 +0000

Welcome to the Tearsheet Podcast, where we dive deep into the intersection of financial services and technology. I’m Tearsheet’s editor in chief, Zack Miller. On today's episode, we have Brendan Coughlin, Vice Chair and Head of Consumer Banking at Citizens Bank, guiding us through the intricate world of banking transformations and how they're catering to the evolving needs of customers, including the Gen Z demographic. The conversation unfolds as Brendan shares invaluable insights into the big shifts within the banking sector, accelerated by the pandemic's digital thrust. He delves into how Citizens Bank navigated this change, emphasizing the critical role of digital while recognizing the enduring significance of in-person interactions, especially for Gen Z, the true digital natives. We explore the profound evolution of customer expectations, moving beyond mere convenience towards value creation and personalized experiences. Brendan sheds light on Citizens Bank's strategies, like the bank’s "Citizens Plus" rewards platform and its proactive approach to financial advice, leveraging data and analytics to enhance customer financial confidence. The discussion extends beyond products and services to encompass broader economic environments, unveiling Citizens Bank's strategies in navigating economic challenges, their differentiation in the highly competitive landscape, and its concerted efforts to provide a holistic view of customers for personalized offerings while maintaining data privacy and customer trust. Here’s my conversation with Brendan. You can access a transcript on our website here: https://tearsheet.co/?p=57600

Revisioning banking and BaaS last mile to safely deliver financial products

zack.miller@gmail.com (Tearsheet Studios) — Fri, 17 Nov 2023 05:56:02 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. We’ve got a great show prepared for you today. We’re going to be talking about "Reimagining the Last Mile in Banking and the BaaS Business Models that will ensure Safe and Secure Delivery of Financial Products." We’ve assembled a panel of experts that will provide valuable insights into the current state and the future of Banking as a Service business models. You’ll hear how these models are morphing to reshape the financial industry. As we explore where banking and BaaS has evolved from, we’ll also tackle BaaS Business Models in the future and the Path Forward for the different players in the ecosystem. Joining me on the show today is 🔷 Kate Drew, Director of Research at CCG Catalyst Consulting Group: Kate brings over a decade of industry experience and is a renowned fintech thought leader. Her insights have been featured in publications like CNBC, The Fintech Times, and Business Insider, making her a sought-after expert in the field. 🔷 John Bearden, Chief Banking Officer, Thread Bank: John is CBO of Thread Bank. Previously, he served as President of the Middle Tennessee Banking Group at Renasant Bank. He previously led the Depository Fixed Income practice at Stifel Financial and Sterne Agee where he worked with depository institutions around the country. 🔷 Sarah Howell, Head of Partnerships at Infinant: With her background in card payments and fintech, Sarah is a key figure in the BaaS landscape. She has played a vital role in the launch of Apple Pay and has been a thought leader during her tenure at Visa. Her insights have been featured in publications like American Banker and The Financial Brand. Tearsheet thanks our partner Infinant for helping make this conversation, and others like it, a reality. Without further ado, here’s our show

The Gen Z Effect: Sustainability, technology, and the future of finance

zack.miller@gmail.com (Tearsheet Studios) — Mon, 13 Nov 2023 09:55:53 +0000

This episode of the podcast explores how Gen Z’s penchant for bringing social issues to the forefront impacts the financial services they use and their choice of providers. We look at one particular partnership between Klarna and Good on You that demonstrates the power to serve Gen Z via a collaboration that combines sustainability with financial services. We’ll also explore how some of the largest financial institutions can navigate this new generation by more deeply understanding them – it will require some evolution, though. This conversation is part of a special podcast series where we explore the fascinating Gen Z deeper: their relationship with money, how they like to save, spend, and borrow money, their fears and aspirations, and their connections to social issues. Joining me on this episode is Salah Said, Head of Sustainability at Klarna, Dave Donovan, Head of Publicis Sapient’s Financial Services Practice in North America, and JD Shadel, Editor at Large at Good on You, which publishes data on 5,000 fashion brands’ sustainability. Tearsheet thanks our sponsor Publicis Sapient for their support. Read more and download customer research about Gen Z and financial services at SteezLife. Now, let’s talk about Gen Z, financial services, and social issues. **The big ideas** * Gen Z's Impact on Financial Services: Gen Z is reshaping the financial services industry through their strong focus on sustainability, ethical practices, and social impact. Financial institutions must adapt to meet the values-driven demands of this generation. * Sustainability as a Key Driver: Sustainability is no longer just a buzzword; it's becoming a key driver in financial decision-making for Gen Z. They prioritize financial health, social impact, and making investments that align with their values. * Technological Solutions: Technology, particularly fintech, is playing a significant role in promoting sustainability within financial services. Digital-only banking platforms, eco-friendly credit cards, blockchain, and crowdfunding are some examples of tech-driven sustainability solutions. * Collaborations for Impact: Collaboration between companies and organizations is crucial to drive sustainability efforts forward. Partnerships, like the one between Good On You and Klarna, are instrumental in making sustainability accessible and empowering consumers. * Fashion Sustainability: Sustainable fashion is gaining popularity among Gen Z, influencing their lifestyle choices and financial decisions. A growing emphasis on circularity and expecting brands to communicate their sustainability efforts are key trends. * Consumer Empowerment: Empowering consumers with information is essential. Tools that help track carbon emissions, round up change for sustainability projects, and promote ethical credit cards are becoming increasingly relevant in helping consumers make sustainable choices. * Inclusion and Affordability: Accessibility to sustainable products and financial services is vital. Large enterprises should aim to provide more inclusive financial instruments, ensuring that sustainability is not just an option for those with financial means.

Wise's partnership with Swift helps modernize X-border payments for FIs

zack.miller@gmail.com (Tearsheet Studios) — Thu, 09 Nov 2023 06:54:56 +0000

Welcome to Tearsheet Live. I'm Zack Miller, Tearsheet's editor in chief. Recently, global money mover Wise and Swift announced a new Correspondent Services offering that will empower financial institutions to make sending money internationally faster, cheaper, and more convenient for their customers. By combining the strengths of Swift's global financial messaging network with Wise's innovative payments infrastructure, financial institutions, and banks looking to enhance their international payments services can do so without needing to implement any major changes to their system Joining me and Steve Naudé, Head of Wise Platform at Wise.

The evolution of digital banking tech platforms and Deloitte BankingSUITE with Tim O'Connor

zack.miller@gmail.com (Tearsheet Studios) — Thu, 02 Nov 2023 06:19:46 +0000

Welcome to The Tearsheet Podcast, where we go deep into the ever-evolving world of modern financial services with the people making it happen. I'm your host, Tearsheet editor, Zack Miller, and in today's episode, we're diving into the digital banking landscape, its transformation, and how financial institutions are adapting to this new ecosystem. Joining me is Tim O'Connor, Principal at Deloitte in the United States, practice leader in digital banking and payments. He’s also responsible for Deloitte’s investments in assets and product around banking. In this conversation, we'll explore the journey of modern banking technology, from its monolithic roots to the dynamic, composable ecosystem we see today. We'll discover the driving forces behind this transformation and how supply and demand have played a role. Tim will share valuable insights into the approaches banks are taking to adopt these new technologies, from creating entirely new digital brands to coexisting with legacy systems. We'll also touch upon the global perspective, as we draw lessons from Europe's experiences in the digital banking sector and explore how these insights are shaping the future of banking in the United States. And we also plumb the Deloitte BankingSUITE, a solution that's accelerating modern digital banking propositions. Tim will share how this software streamlines the often complex and time-consuming process of building a modern digital bank. Stay tuned for a thought-provoking conversation that will shed light on the present and future of banking technology. This podcast is part of a four-part series we’re doing with Deloitte’s financial services leadership on the trends shaping our industry today and out into the future.

Card Launching 101: Episode 3

zack.miller@gmail.com (Tearsheet Studios) — Sun, 29 Oct 2023 18:02:33 +0000

Launching a card is such a core part of today’s financial services. Whether you’re an incumbent or a fintech, a card is likely a cornerstone product in your portfolio and an important contributor to your revenue. But the work doesn’t end with launching a new card. There’s a whole world of promotion and growth to move a card from being just another option for a user to becoming top of her wallet. We’ve looked at the planning that goes into differentiating your card, into creating something new and useful for your customers. But what happens when you put the card into market also matters. Execution is key here and can make the difference for a successful uptake of a new card. I’m Tearsheet’s Zack Miller. We wanted to shine some major light on the card launching process making it easier, smoother, and hopefully more successful. This series is sponsored by Galileo. And participation in this series - we have some great executives and companies involved – doesn’t mean an endorsement of Tearsheet or our sponsor. And to do that, we enlisted some of the best fintech and financial services firms out there to talk about what they’ve learned launching and scaling card products. We turned to some of the top brands – like Wise and Dave – with millions of cards in their users’ hands. We also turned to the platforms and banks – firms like Cross River Bank and First National Bank of Omaha. And we talked to Galileo – the technology and processing platform powering many of today’s most popular fintechs. This is the third of a three part series where we focus on launching and promoting cards. To dive even deeper, I encourage you to download the guide we published incorporating all this inside information and more. To download your free guide, go to www.tearsheet.co/cardguide Without further ado, let’s jump into the subject.

‘Legacy AP is dead’: Rho’s Everett Cook

zack.miller@gmail.com (Tearsheet Studios) — Wed, 25 Oct 2023 05:31:27 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. In this episode, we're joined by Everett Cook, the CEO and co-founder of Rho, an all-in-one finance platform for businesses. Rho is changing the game by combining accounts payable, expense management, corporate cards, and commercial banking into a single comprehensive platform designed to empower CFOs and finance teams to achieve more in their day. During our conversation, we dive deep into Rho’s journey, from its inception in 2020 to its remarkable evolution, and how it is redefining the value proposition for businesses of all sizes. Everett discusses Rho’s mission to make finance frictionless for organizations, with a keen focus on helping finance teams save time and streamline their workflows. Everett also unveils one of Rho’s latest offerings, the One-Click AP tool, powered by AI, and explains how it's poised to impact the way companies handle their accounts payable processes. Intrigued by Rho’s approach to addressing the needs of middle-market companies, Everett delves into the nuances of their customer-centric model and how they're continually shaping their products based on direct customer feedback. He highlights the importance of using AI to automate finance tasks, providing finance teams with more time to add strategic value to their organizations. We also touch on the competitive landscape, discussing how Rho is differentiating itself in the market, particularly by emphasizing vertical integration and building products from the ground up. As we explore the evolving financial technology industry, we gain insights into Rho’s strategy to stay competitive in the rapidly changing landscape, how they’re addressing their customers' most pressing challenges, and their vision for the future. So, let's dive into this engaging conversation with Rho’s Everett Cook.

'My goal is to provide very high levels of customer satisfaction at scale': Argyle's Shmulik Fishman

zack.miller@gmail.com (Tearsheet Studios) — Thu, 19 Oct 2023 05:24:25 +0000

Welcome to the Tearsheet Podcast, I’m editor in chief, Zack MIller. A popular theme for this podcast has been exploring the powerful unlock data has within different financial businesses. That’s particularly true for payroll data which is a more complicated thing to digitze than banking balance sheet and transaction data. For the past few weeks, we’ve heard the impact modern access to payroll data has had on mortgage banker Draper and Kramer, to conducting background checks as part of hiring like Checkr does, to consumer lender, Regional Finance. Each business had access to payroll data in the past but it was laborious to access, bundled together with other things, and wasn’t made an integral part of digital workflows. Argyle is helping to change all that. As Argyle’s footprint grows, the fintech firm continues to mature its products, processes, and people. Founder and CEO Shmulik Fishman has built a powerful team of GMs to lead each of the verticals the payroll data firm participates in. And what is fascinating about this conversation about tech- and data-enabled financial services is Shmulik’s focus on the people side of the business. In a market that’s getting frothy in its excitement around generative AI, Argyle has good tech, sure, but it’s the people that are making a difference in its work with clients. It’s what keeps them coming back and giving more volume and products to Argyle to manage. Argyle CEO Shmulik Fishman is my guest on this show. Tearsheet has partnered with Argyle to create a four part podcast series that explores how different parts of the financial industry are using modern technology and access to new forms of data to power their businesses today and into the future.

How Greenlight and Mastercard build trust and market to Gen Z

zack.miller@gmail.com (Tearsheet Studios) — Wed, 18 Oct 2023 08:43:30 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. This episode with executives from Mastercard and Greenglight on building trust and marketing to Gen Z is part of a special podcast series where we explore the fascinating Gen Z deeper: their relationship with money, how they like to save, spend, and borrow money, their fears and aspirations, and their connections to social issues. Tearsheet thanks our sponsor Publicis Sapient for their support. Read more and download customer research about Gen Z and financial services at www.steezlife.co For this episode, I’m joined by Mastercard’s Sherri Haymond and Greenlight’s Matt Wolf. We’ll put some thought to qualify and quantify the opportunity to better serve the younger generation and how both firms are positioned to do so. We’ll chat about why Gen Z is an important generation and how Greenlight and Mastercard embed this generation into their design and experiences. Financial education and trust building are particularly important to establish to win over Gen Z – we’ll explore those things, too. Here’s my conversation with Matt Wolf and Sherri Haymond.

Card Launching 101: Episode 2

zack.miller@gmail.com (Tearsheet Studios) — Mon, 16 Oct 2023 08:19:03 +0000

Launching a card is such a core part of today’s financial services. Whether you’re an incumbent or a fintech, a card is likely a cornerstone product in your portfolio and an important contributor to your revenue. As the space has matured, firms have gotten better at partnering. That’s good, because you’ll need partners to launch a card. As fintech has grown, it’s helped financial services mature overall – the art and science of partnering is definitely improving with time and experience. That’s also good – because choosing the right partners and figuring out how to best leverage both parties’ unique skills and talents is really a big part of the secret sauce here. I’m Tearsheet’s Zack Miller. We wanted to shine some major light on the card launching process making it easier, smoother, and hopefully more successful. This series is sponsored by Galileo. And participation in this series - we have some great executives and companies involved – doesn’t mean an endorsement of Tearsheet or our sponsor. And to do that, we enlisted some of the best fintech and financial services firms out there to talk about what they’ve learned launching and scaling card products. We turned to some of the top brands – like Wise and Dave – with millions of cards in their users’ hands. We also turned to the platforms and banks – firms like Cross River Bank and First National Bank of Omaha. And we talked to Galileo – the technology and processing platform powering many of today’s most popular fintechs. This is the second of a three part series where we focus on the importance of finding the right partners for your card program. To dive even deeper, I encourage you to download the guide we published incorporating all this inside information and more. To download your free guide, go to www.tearsheet.co/cardguide Without further ado, let’s jump into the subject.

Designing a winning UI/UX for financial services

zack.miller@gmail.com (Tearsheet Studios) — Fri, 13 Oct 2023 05:48:49 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. In this episode, I moderated a discussion between Olivia Mikkelsen, lead experience designer at Deloitte, and Ryan Geyer, the Chief Product Officer for Deloitte's Converge Banking suite. Together, we delved deep into the world of UI/UX and its pivotal role within the realm of financial services. Our conversation revolved around the intricate balance between customer experience and technological innovation. Olivia introduced us to Deloitte's "balanced breakthrough method," which provides a structured approach to prioritize desirability, feasibility, and viability when creating new banking experiences. She stressed the importance of truly understanding customer desires, needs, and pain points, offering valuable insights into their methodology. Ryan emphasized that in a rapidly evolving landscape, banks must adapt and integrate with fintech companies rather than compete against them. He discussed the need for enhancing customer service, contextual guidance, and the role of generative AI in taking the customer experience to the next level. We explored the significance of personalized experiences and the bedrock of trust in financial services, concluding that technology, including generative AI, should ultimately serve to make customers feel seen and comfortable within this environment. Overall, our discussion shed light on the ever-changing dynamics of the banking industry and the crucial role of technology in enhancing customer experiences while building and maintaining trust. This is episode 3 in a four part podcast series we’re doing with Deloitte. To get the other episodes in the series or to access a transcript of this one, go to tearsheet.co Here’s my conversation with Ryan and Olivia.

How Bank of America helps Gen Z build responsible financial habits

zack.miller@gmail.com (Tearsheet Studios) — Wed, 11 Oct 2023 07:44:35 +0000

Welcome to the Tearsheet Podcast. I'm Tearsheet editor in chief, Zack Miller. This conversation with top executives at Bank of America is about building good financial habits for Gen Z, this episode is part of a special podcast series where we explore the fascinating Gen Z deeper: their relationship with money, how they like to save, spend, and borrow money, their fears and aspirations, and their connections to social issues. Tearsheet thanks our sponsor Publicis Sapient for their support. Read more and download customer research about Gen Z and financial services at Steezlife.co And on this episode, I’m joined by Holly O’Neill, President of Retail Banking at Bank of America. Holly is responsible for the growth of the Retail Banking business, which serves U.S. mass market consumers. She’s also is a member of the company’s executive management team. O’Neill also serves as the bank’s Chief Client Care Officer, overseeing a team that provides financial solutions to nearly 68 million clients each year, with a focus on helping clients wherever and however they prefer to bank, serving diverse communities and supporting financial education. Also joining us for this discussion is Haim Israel, Head of Global Thematic Research, BofA Securities. For the past two years, Haim and his team have been ranked first in the Thematic Research and ESG –Integrated Climate Change teams in the Institutional Investor Extel Global Survey. Prior to this, Israel was the head of Bank of America’s EEMEA Technology, Media and Telecommunication Research team. Here’s my conversation about building good financial habits in younger banking customers with Holly and Haim.

What the Plaid and Brex CTOs learned scaling teams, skills, products during years of hyper growth

zack.miller@gmail.com (Tearsheet Studios) — Sun, 08 Oct 2023 16:04:43 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. I’m joined today by the CTOs of Plaid and Brex. The successful fintechs that found early escape velocity did so by rapidly responding to their customers’ needs for complementary products and services. There are just a handful of companies that were able to do this – to go from 0 to 1 in a way that required massive scaling and building product platforms that can support this growth. And a lot of times that required scaffolding, deconstruction, and re-scaffolding while the growth engine is revving. Plaid’s Jean Denis and Brex’s Cos are two of the best in the business. I felt like this discussion was a masterclass in what it takes to lead tech and product teams at the highest level. Having both CTOs on the podcast was also interesting to see where they concurred with one another and where they departed. We discuss the biggest challenges they’ve learned in scaling and the organizational changes they’ve made to support different stages of their growth. We look at the acquisitions both companies made and how Brex and Plaid integrated new teams, technologies, and products. I ask both Cos and Jean Denis about their approach to talent and how their teams are organized to harness their people’s talents. Lastly, we drill down further into how their product planning and product pipelines work, and how both have evolved as their companies have grown. Here’s my conversation with the CTOs of Brex and Plaid. The big points * Lessons learned in scaling the team. * How did the team structure change over time? * Importance of domain expertise. * Integrating new talent into the company. * The evolution of the business model. * Thinking about product surface area. * Turning R&D budget into operating budget. * How far out does product planning go

How Draper and Kramer is using income and payroll data to upgrade its mortgage borrower experience

zack.miller@gmail.com (Tearsheet Studios) — Wed, 04 Oct 2023 06:47:09 +0000

It’s been a wild ride for mortgage lenders the past few years. With rates high, they’ve been primarily focusing on two things. The first is to cut costs – that can manifest in reduced headcounts, but mortgage lenders are also thinking about using technology smartly to do more with less. And for those lenders who’ve seen a cycle or two, they’re thinking about using technology strategically, too. It’s not just about efficiency – they know the cycle will turn back in their favor at some point, and will they be ready to scale when demand kicks back in? Will they be proactive about growth when things start ramping again? For this episode, I’ll be joined by Courtney Schaefer, COO of Draper and Kramer, a real estate firm that’s over 100 years old and one of the top 30 mortgage banks in the US. She’ll take us through how her firm is positioning itself to be ready for a mortgage rebound. She’s clearly looking at technology and data tactically – to reduce costs and increase efficiency – and strategically – to be able to grow smartly when the market dynamics shift. Also on this episode is John Hardesty, GM of Mortgage at Argyle, a leading provider of income and employment data that does deep work in financial services. I’m Zack Miller, Tearsheet’s editor in chief. Tearsheet has partnered with Argyle to create a four part podcast series that explores how different parts of the financial industry are using modern technology and access to new forms of data to power their businesses today and into the future.

Card Launching 101: Episode 1

zack.miller@gmail.com (Tearsheet Studios) — Tue, 03 Oct 2023 05:40:40 +0000

Launching a card is such a core part of today’s financial services. Whether you’re an incumbent or a fintech, a card is likely – or will likely be – a cornerstone product in your portfolio and an important contributor to your revenue. What baffles me is that with all the new technology platforms, banking as s service, and experienced program managers, there’s still a gap for firms and entrepreneurs to really understand what goes into launching and managing a card. We wanted to shine some major light on the card launching process making it easier, smoother, and if things go right, more successful. And to do that, we enlisted some of the best fintech and financial services firms out there to talk about what they’ve learned launching and scaling card products. We turned to some of the top brands – like Wise and Dave – with millions of cards in their users’ hands. We also turned to the platforms and banks – firms like Cross River Bank and First National Bank of Omaha. And we talked to Galileo – the technology and processing platform powering the cards of many of today’s most popular fintechs. Thank you to Galileo, who has supported this project from the beginning. We appreciate your support and the work you do throughout the industry. This podcast mini-series is intended to help get your card launch right. One thing you’ll hear as we speak to some of the best in the industry is the need to plan well. It doesn’t mean you’ll get it right the first time around but at least you’ll have a way forward. We want you to know what’s ahead for you and ultimately to learn from some of the best and brightest around who’ve launched cards ultimately used by millions of people and companies. Learn from their battle scars and successes. This is the first of a three part series. To dive even deeper, I encourage you to download the guide we published incorporating all this inside information and more. To download your free guide, go to www.tearsheet.co/cardguide This first part of the series address all the planning that goes into ideating, creating, and launching a card. We address the following: *Introduction to the importance of launching and managing cards in financial services. *The need for understanding the card launching process and collaborating with partners. *Planning and the "why" behind launching a card, considering customer problems. *Different approaches to launching cards as strategic differentiators or add-ons. *Case studies from Wise, Bluevine, Dave, and their reasons for launching cards. *Understanding the differences between debit and credit cards and their implications. *Planning for the future of card programs and ecosystems. *The importance of testing, not rushing to market, and iterating. *The role of value proposition in connecting with a company's mission. *Differentiation through features surrounding the card and fulfilling customer needs.

Customer expectations in a digital world with Deloitte's Jonathan Valenti

zack.miller@gmail.com (Tearsheet Studios) — Thu, 28 Sep 2023 04:59:58 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. In this podcast, I welcome Jonathan Valenti, a principal with Deloitte Consulting, who leads an offering at Deloitte called Customer, Experience, and Marketing Strategy, particularly in the context of financial services. Jon shares insights on evolving customer expectations, the importance of personalization, and the influence of experiences from other industries on financial services. We discuss the role of technology in meeting customer demands, including faster onboarding and the development of budgeting tools. Jon also highlights the growing emphasis on equity and inclusion in financial services, addressing how institutions are striving to represent diversity in leadership and design more accessible services. We conclude with a discussion on recent market events and the impact on customer strategies, including the need for diversification and partnerships within the industry. This is part of a four part series we’re doing with Deloitte’s financial services leadership on the trends shaping our industry today and out into the future. Here’s my conversation with Jonathan Valenti.

Looking deeper at mortgage demand and products with BMO's Tom Parrish

zack.miller@gmail.com (Tearsheet Studios) — Sun, 24 Sep 2023 11:53:32 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. Uneven market conditions nationally, rate volatility, economic uncertainty, affordability challenges, limited inventory, and soaring home prices are rendering a difficult home buying and refinancing market for Americans. BMO’s published a survey that reflects this strongly: The survey reveals that 64 percent of Americans are delaying their homebuying plans due to mortgage rate concerns - they are waiting for mortgage rates to drop. Additionally, only 6 percent of Americans plan to purchase a home this summer, as elevated rates and home prices impact affordability. Furthermore, among those planning to refinance, 81 percent are waiting for rates to drop. On this episode of the podcast, I’m joined by Tom Parrish, managing director of consumer lending product management at BMO. We talk discuss the impact high interest rates and economic uncertainty are having on consumer home buying and financing decisions and how BMO is responding to help its clients and prospects. Here’s my conversation with BMO’s Tom Parrish.

How Regional Finance balances customer-centricity and fraud prevention in digital lending

zack.miller@gmail.com (Tearsheet Studios) — Thu, 21 Sep 2023 06:01:17 +0000

As lenders become increasingly digital, they need to continuously manage the tradeoff between making really smooth experiences for their customers with becoming targets for fraud. Plus, marketing funnels aren’t monolithic – helping prospects move from kicking the tires to applying for a loan needs to be balanced with making sure lenders are attracting the right, profitable people. It doesn’t help anyone if a marketing funnel becomes overly optimized for an unprofitable customer. There’s a new class of technologies lenders use to more efficiently onboard new, profitable customers and make sure they are who they say they are. That’s helping lenders like Regional Finance, a $1.5 billion consumer lender, stay focused on its business. On this episode of the Tearsheet podcast, I’m joined by Chris Martin, Vice President, Head of Product Management, at Regional Finance. Also joining us is Matt Gomes, GM of consumer lending and banking at Argyle, a leading provider of income and employment data that does deep work in financial services. I’m Zack Miller, Tearsheet’s editor in chief. Tearsheet has partnered with Argyle to create a four part podcast series that explores how different parts of the financial industry are using modern technology and access to new forms of data to power their businesses today and into the future.

Revolutionizing Payroll: The future of Earned Wage Access with Clair CEO Nico Simko

zack.miller@gmail.com (Tearsheet Studios) — Tue, 19 Sep 2023 02:54:01 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Earned Wage Access has become an important value proposition for workers and many neobanks generally offer it. But for largest incumbent institutions, few do offer it and a lot of it has to do with the lack of regulatory clarity – each state has a different approach to it. But that’s changing. Nico Simko, CEO of Clair, joins me on the podcast to talk about the evolution of EWA and some of the recent legal moves some states have taken to clear things up. Clair is a free on-demand pay app for front line workers. In addition to drilling down on regulatory changes for earned wage access, we also tackle: ** Clair’s distribution strategy ** How the app helps people save money ** The mechanics of wage advance and how they work ** Clair’s fundraising history and where Nico wants to steer the firm in the future

Navigating the future of digital banking: A conversation with Deloitte's Nick Cowell

zack.miller@gmail.com (Tearsheet Studios) — Thu, 14 Sep 2023 05:10:20 +0000

Banking is undergoing deep changes. We’ve been tracking that. And ss consumers become increasingly open to new digital options, incumbent banks are feeling the pressure. It’s hard to innovate when you spend upwards of 70% of your budget maintaining legacy systems. But neobanks are also dealing with their own reckoning – we’ve moved beyond the days where we got excited about the overall headline customer numbers. As they mature, unit economics matter for these institutions if they want to compete for the long term. Frankly, it’s not easy and it’s expensive to build a lasting banking franchise. Deloitte’s Nick Cowell, Digital Banking Leader, joins me on this podcast to go deep into talking about the challenges banks face. As he explores some of the causes of customer attrition, for example, Nick defines the characteristics of the eventual winners in the digital banking market. For him, the banks that will lead in the future will become a multi-tenant or multi-product provider for their customer base. This is part of a four part series we’re doing with Deloitte’s financial services leadership on the trends shaping our industry today and out into the future. **The big ideas and questions** $ What are the key forces driving the evolution of digital banking? $ How digital banking is changing the landscape. $ Consumers openness and intentionality around digital tools. $ Challenges faced by the incumbents. $. Characteristics of the winners in the digital banking market. $. Buy vs. build. $. What is the definition of success? $. Future trends that will influence digital banking propositions. $. How will digital banks evolve from just a bank to a multi-product provider? Here’s my conversation with Nick.

Marketing financial services to Gen Z with Step's CJ MacDonald and Visa's Ruben Salazar

zack.miller@gmail.com (Tearsheet Studios) — Tue, 12 Sep 2023 04:05:16 +0000

Welcome to the Tearsheet Podcast. I'm Tearsheet's editor in chief, Zack Miller. This episode is part of a special series on Gen Z and financial services. We're really trying to get to the bottom of this next generation. The eldest Gen Zer was born in the same year Instagram was founded. Gen Z has always lived in a world with social media. Surrounded by tech tools and platforms means reaching Gen Z constitutes a challenge for financial firms. The language and ways that worked on their parents probably won’t work on Gen Z. This calls for bringing new strategies, communication, and advertising into play in ways that resonate with this generation To dive deeper into how financial firms can better market to the younger demographic, I brought in two of my favorite people here to talk about this subject here. We've got CJ McDonald, founder of Step. and Ruben Salazar, who runs Visa Direct. We explore the following questions: * What makes this generation unique? * What kind of challenges does serving this generation raise for financial services? * What do some firms get wrong marketing to Gen Z? What are common mistakes? * How does this uniqueness impact your firm’s marketing? product development? * What brands do you look to outside of financial services that nail marketing to Gen Z? * How does your business serve Gen Z today? How do you market that? * What are you doing to serve them better in the future? How will you market that? Tearsheet thanks our sponsor Publicis Sapient for their ongoing support of this series. To download research reports into the opportunity to better serve this generation, go to www.steezlife.co

How Checkr uses modern data in background checks to promote fairer hiring practices

zack.miller@gmail.com (Tearsheet Studios) — Thu, 07 Sep 2023 05:18:20 +0000

Hiring in this market is super competitive. Like consumers have grown to expect from the companies they buy from, the bar has been raised in the hiring process. Hiring managers need to create good experiences for candidates if they want to be competitive. They must combine good UX with a growing sensitivity to secure applicants’ personal and professional data, too. This dynamic is particularly poignant in background checks. Top hiring firms work with Checkr to streamline hiring and also promote more fair hiring practices. That boils down to the data the firm collects and how it accesses and shares it. On this episode of the Tearsheet podcast, I’m joined by Scott Melman, director of data acquisition at Checkr to discuss the trends afoot in background checks and how better data, data sharing, and data permissioning are leading to better practices, better outcomes, and fairer hiring practices all around. Also joining us is Justin Stolzenberg, GM in the background screening space at Argyle, a leading provider of income and employment data that does deep work in financial services. I’m Zack Miller, Tearsheet’s editor in chief. Tearsheet has partnered with Argyle to create a four part podcast series that explores how different parts of the financial industry are using modern technology and access to new forms of data to power their businesses today and into the future.

Behind the Citi-Pismo partnership

zack.miller@gmail.com (Tearsheet Studios) — Wed, 06 Sep 2023 07:02:19 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. Joining me on this show are Stephen Randall, Global Head of Liquidity Management Services in the Treasury and Trade Solutions business at Citi, and Ricardo Josua, CEO and founder of Pismo, a banking and cards platform. The two firms are working to strengthen Citi’s corporate demand deposit accounts (DDA) to clients worldwide We’ll be talking about the partnership these two firms struck, how it fits into Citi’s Treasury and Trade Solutions’ tech strategy, and how it will impact Citi clients. Pismo’s Josua explains what a microservice-based ecosystem is and how it behaves. We also chat about the importance of having core expertise and knowledge in cloud-based banking and payment capabilities like Pismo has. Here’s my discussion with Citi’s Stephen Randall and Pismo’s Ricardo Josua.

The M&A opportunities in SaaS and fintech with Trintech's Omar Choucair

zack.miller@gmail.com (Tearsheet Studios) — Wed, 30 Aug 2023 05:34:17 +0000

Trintech, a global provider of cloud-based financial close solutions for CFOs and their teams, announced the acquisition of Fiserv’s reconciliation businesses in North America and EMEA. The deal comes at a time of relatively low M&A activity in the broader software vertical and, of course, sustained high interest rates. That said, it’s also happening within a segment that has an estimated value of over $20b. Join Tearsheet's editor and chief, Zack Miller, and Trintech CFO, Omar Chocuair, as they discuss why his team chose to make this acquisition now. We also chat about the opportunities and challenges of M&A in the SaaS and financial tech spaces, and the market outlook he has for the remainder of this year into 2024.

Building a borderless business from day one with Airwallex's Ravi Adusumilli

zack.miller@gmail.com (Tearsheet Studios) — Wed, 23 Aug 2023 05:20:43 +0000

Today's companies think about going global from the start and in fintech, that means thinking about payments and money movement across borders. Partnerships can play a strategic and tactical role in going international. Join me Tearsheet's editor and Airwallex's Ravi Adusumilli, SVP of Partnerships for a LinkedIn Live session. As General Manager, Americas, Ravi oversees the company’s strategy and operations in the region, identifying opportunities to drive the company’s rapid regional growth. As SVP of Partnerships, Ravi oversees an international team across the US, APAC and EMEA, managing Airwallex’s extensive global network of strategic and financial partnerships. Prior to Airwallex, Ravi was Head of Global Partnerships at Pinterest, and also held a number of executive leadership roles across several fast-growth startups and tech businesses including with Tile, Netflix, Hitachi and Hewlett Packard.

How Capital One Cafes help Gen Z start money conversations, connect into local communities

zack.miller@gmail.com (Tearsheet Studios) — Thu, 10 Aug 2023 11:14:11 +0000

We're kicking off a special podcast series where we explore this fascinating Gen Z deeper: their relationship with money, how they like to save, spend, and borrow money, their fears and aspirations, and their connections to social issues. This is part of the content series we've been doing on Steez, our branded work with Publicis Sapient on Gen Z and financial services. You can download our free Gap Z report on the disconnect between where banks think they are with this generation and what young customers really feel about their FIs, and what to do about it. Go to steezlife.co Our first podcast in the series is with Capital One's Shaun Rowley. Shaun is the National Capital One Café Executive, supporting all of the bank's Cafés throughout the country but calls St. Cloud, Minnesota home. He celebrated 20 years with Capital One this year. Since starting as a part time contact center associate, he has held multiple positions in front line teams, product, marketing, strategy, and analysis.

Ty Burrell, actor and SMB owner, highlights government incentives For SMBs

zack.miller@gmail.com (Tearsheet Studios) — Wed, 26 Jul 2023 05:32:52 +0000

Welcome to our latest Tearsheet Live event. We're doing these weekly -- Wednesdays at 12 EST -- on Linkedin. Follow us here. I'm your host, Tearsheet editor, Zack Miller. Joining us is Hunter Somerville, creative director of Innovation Refunds. Occasionally we dig in to marketing and campaigns and how financial services and fintech companies are finding new ways to create leads, acquire new customers, and build brand. What's Innovation Refunds? Hunter Somerville, Innovation Refunds: The company has been around for a few years. And the mission is really to be a champion of small businesses. We feel like they're the backbone of the American economy and sometimes kind of overlooked and underappreciated. So, you know, the most powerful thing a small business can have, or medium sized business or any business for that matter is capital. So however we can we tried to make that happen. And currently, we're really focused on the ERC employee retention credit, which was part of the Cares Act. I think people are very familiar with PPP loans. USC was a part of that same, the Cares Act as the PPP loans. And so we're doing I think, a pretty darn good job at helping more and more small businesses, be aware of the ERC and take advantage of it if they are eligible. Listen to the whole episode: https://tearsheet.co/?p=55888

Update on the disbursements market with Dash Solutions CEO, Stephen Faust

zack.miller@gmail.com (Tearsheet Studios) — Wed, 19 Jul 2023 04:42:20 +0000

Welcome to another Tearsheet LinkedIn Live session. Joining me is Steven Faust, Dash Solutions CEO. Earlier this year, Prepaid Technologies rebranded as Dash. The company moved into a new corporate headquarters in Birmingham, Alabama. The company serves clients with 4 modalities: disbursements, rewards, spend, and pay. Stephen and I discuss the company’s rebrand and how that’s impacting the business. We discuss organic trends in the modalities where the firm competes. Stephen shares how Dash differentiates itself from a growing number of competitors and the impact the macroeconomy is having on his firm’s business.

A year into the Google Wallet launch with Jenny Cheng

zack.miller@gmail.com (Tearsheet Studios) — Fri, 14 Jul 2023 04:28:40 +0000

Welcome to the Tearsheet Podcast. I'm Tearsheet's editor in chief, Zack Miller. One of the things I appreciate about Google’s approach to finding the right products and services in financial services and fintech to offer its users is that it’s playing the long game. A year ago, Jenny Cheng and her team launched Google Wallet which combines the payment capabilities of Google Pay with the convenience of storing things digitally that you would normally carry in a real world wallet, like a drivers license or a health insurance card. Jenny joins us on the podcast to discuss the market for mobile wallets and how she and Google wanted to stand out from the growing choices consumers have. She shares some demographic information about who uses digital wallets and who doesn’t, homing in on the ability to truly free a user from the constraints of a digital wallet as a potential avenue to get the over 40 year old set to finally adopt wallets. Jenny also describes the power of an ecosystem approach that Google has brought to Google Wallet, servicing merchants and consumers, yes, but also 3rd parties that are needed to create a more expansive offering. Jenny Cheng is my guest today on the show.

'Banks have to run a greener, agile, cheaper operational model to compete': Temenos' Nelly Rezny

zack.miller@gmail.com (Tearsheet Studios) — Wed, 14 Jun 2023 05:00:09 +0000

After years of competing in the US, core software provider Temenos now has over a thousand clients in the U.S., including Regions Bank. Nelly Rezny leads a team of business consultants across the Americas, responsible for working with financial institutions with all of their different transformation initiatives. Nelly joins me on the podcast to discuss the challenges banks are seeing in the market and how that impacts their technology and innovation plans. We talk about which technologies she sees as table stakes and what's coming down the pike. Nelly also shares her views about channels and the role core banking software can play in the future of financial services.

'I think same day ACH is going to be in trouble': TabaPay's Tim Astanov

zack.miller@gmail.com (Tearsheet Studios) — Wed, 07 Jun 2023 05:52:51 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. What I continue to find interesting is that the fintech tech stack peels away like an onion. Even the innovators have 3rd party innovation under the hood. Joining me on the podcast today is Tim Astanov, SVP, Product Commercialization & Partnerships at TabaPay. TabaPay is one of those companies that power payments for the fintech innovators, like SoFi, Remitly, Melio, and others. It offers direct access to 15 banking partners, 14 networks, multiple geographies, products and features in a unified API. Tim has an awesome background – previous to his current position, he was head of P2P in North America for Visa Direct and had important roles at Discover and Amex. We talk about the challenges and opportunities moving money in and out of bank accounts. Tim shares his views on the impact real time payments will have on the industry and its monetization efforts. Lastly we look to some of the biggest trends in the industry as a north star pointing where things are headed. Tim Astanov is my guest today on the Tearsheet Podcast.

'With GameStop, we basically doubled our userbase in just a few days': Public's Jannick Malling

zack.miller@gmail.com (Tearsheet Studios) — Tue, 23 May 2023 11:00:28 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller, Tearsheet’s editor in chief. On today’s show, we’re going to explore opportunities. These types of opportunities we’ll be talking about don’t come around everyday but when they do, they can be transformative, if you’re able to really step up. I talk to Jannick Malling, co-CEO and co-founder of investing app, Public. For younger investors, the meme stock rally offered an opportunity to participate, many for the first time, in the stock market. And for Jannick and Public, it offered an even bigger opportunity: to scale rapidly. But this required smart moves – Jannick and team distanced themselves from competitor Robinhood’s revenue model, pay for order flow, which became an important topic as it opened and closed trading windows on popular meme stocks. Jannick recognized the power in this Game Stop moment and shares his thinking that went into strategizing around it. Last week, Public also released a new generative AI investment research tool called Alpha. It helps people, both newbies and experienced investors, learn more about the investment process and specific investments. Jannick shares his experience working with these new technologies, with a keen eye on how they can be used to service customers, and where they are headed in the future. Jannick Malling is my guest today on the Tearsheet Podcast.

'Banks want the fastest account opening software right now': Fiserv's Sunil Sachdev

zack.miller@gmail.com (Tearsheet Studios) — Tue, 16 May 2023 09:38:31 +0000

On our most recent LinkedinLive session, we spoke all about partnerships and how today's environment of higher interest rates, inflation, and less venture money flowing through is impacting how firms collaborate with one another. Joining me was Sunil Sachdev, head of fintech and growth at Fiserv. Sunil's role cuts across the Fiserv organization as the company aligns the way it works with merchants and banks to the demands of today's customers. Here's my conversation with Sunil.

Inside Portage's fintech portfolio with Stephanie Choo

zack.miller@gmail.com (Tearsheet Studios) — Fri, 05 May 2023 05:40:06 +0000

Portage is a fintech-focused venture fund that invests globally, with two different strategies: early-stage investing (seed to B) and growth-oriented investing (late stage). I spoke to Stephanie Choo, general partner at Portage as part of a LinkedIn Live session. She shared the impact that the drop in venture capital funding has had on the sector and fintechs, with fundraising down around 70% year over year and deal volume down 30% to 40%. But despite the tech recession, the venture capital investor believes that consumer balance sheets are stronger than she expected, opening up new opportunities in the fintech space. Steph also shared that the fall of SVB and First Republic, though disruptive, are catalysts for new firms to step in and serve SMBs and tech companies. Portage is thematically-driven, investigating and investing along two or three theses at any given time. Steph mentions two interests right now: the intersection between fintech and climate, and artificial general intelligence. Steph shared several highlights in the Portage portfolio, including Tallied, a modern payment processor, and global investments in investing and insurance. Here's my conversation with Portage's Steph Choo.

'With personalization, you have to start by addressing the silos': Amdocs' Bentzi Aviv

zack.miller@gmail.com (Tearsheet Studios) — Wed, 03 May 2023 05:35:23 +0000

There’s a lot of talk about personalization being the Holy Grail of banking. Some firms even use the terminology hyper-personalization. But to be honest, few banks actually provide deeply personalized products. With all the tech advancements of the past decade, it’s still mostly one-size-fits-all banking. It’s not necessarily their fault, either. Given the history of banking and data siloed by products, banks can struggle piecing it all together. That’s changing though as creative technology solutions are able to help banks take a more customer centric approach and in doing so, get much better at providing personalized offers and pricing. For this episode I spoke with Amdocs' Benzium Aviv. Bentzi heads the Financial Services Unit within the Amdocs organization. We talk about the big trends toward personalized financial products, drawing from parallels in the telecommunications industry and the technology and business changes it went through. When you hear Bentzi speak, you can tell he's passionate about personalization in financial services. He's an optimist and also pragmatic, aware of the challenges banks and other FIs have to get personalization right. This podcast was produced by Tearsheet Studios. We worked closely with Amdocs, a global technology company with 40 years of experience providing personalized pricing and products to the telecommunications industry. The firm is increasingly active in the financial services industry, too. This is part one of a 2-part podcast series. There's also a guide available with the best of this interview: Unlock the power of personalized product offerings: 3 approaches for banks to provide the experiences their customers want. Download here: www.library.tearsheet.co/amdocs23

On the evolution of Square Banking with Christina Riechers

zack.miller@gmail.com (Tearsheet Studios) — Tue, 02 May 2023 06:17:59 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. On our podcast, we interview some of the top minds at work building the next generation of financial services. In its work with small businesses and consumer payments, Square is definitely one of the companies that matters. Christina Riechers heads up Square Banking which serves about 1 million small business owners with checking, savings, and loans. She leads engineering, product, design, product marketing, operations & policy, and data science. For Christina, helping solve liquidity issues runs deeper than just a job. She co-founded and led Evidence Action, a non-profit that addresses health concerns for 200M+ children annually and provides 4M+ East Africans with access to safe water. This work has a direct economic impact on their lives. Christina’s work doing good informs her professional life and the way she looks at finance. But it also works in reverse – her experiences building at scale have proven helpful in her work building efficient charity organizations, too. It’s clear for her that providing the right tools and opportunities can make a huge difference. Christina Riechers is my guest today on the Tearsheet Podcast.

'We want to be the first payment choice everywhere and every day': Zip's Larry Diamond

zack.miller@gmail.com (Tearsheet Studios) — Fri, 28 Apr 2023 06:38:31 +0000

Tearsheet hosted its first LinkedIn Live session. Joining me on the show is Zip co-founder and CEO, Larry Diamond. Ten years ago, Zip was founded in Australia as a buy now, pay later service, embedding a quick and easy consumer loan in a retailer's checkout flow. Larry recently moved to the US to focus on Zip's expansion stateside. In this LinkedIn Live session, we discuss: *Zip's US opportunity *What the US BNPL market can learn from the more mature Australian market *Consumer protections and rising calls for regulation *How Zip differentiates *Levers in the business *Where Zip is headed next If you'd like to attend future LinkedIn Live sessions, follow me and Tearsheet on LinkedIn.

'Bank customers would say to me, what personalization?': Amdocs' Katie Pagenkopf

zack.miller@gmail.com (Tearsheet Studios) — Wed, 26 Apr 2023 07:56:25 +0000

There’s a lot of talk about personalization being the Holy Grail of banking. Some firms even use the terminology hyper-personalization. But to be honest, few banks actually provide deeply personalized products. With all the tech advancements of the past decade, it’s still mostly one-size-fits-all banking. It’s not necessarily their fault, either. Given the history of banking and data siloed by products, banks can struggle piecing it all together. That’s changing though as creative technology solutions are able to help banks take a more customer centric approach and in doing so, get much better at providing personalized offers and pricing. For this episode, I spoke with Katie Pagenkopf of consultancy, projekt202, about research she conducted that went deeper into what type of personalization bank customers really want, prioritizing the ones who are most open to targeted offers. Katie goes further, with some ideas about how banks can begin to deliver on the opportunities afforded by better personalization, leveraging their existing investments in their core technology. This podcast was produced by Tearsheet Studios. We worked closely with Amdocs, a global technology company with 40 years of experience providing personalized pricing and products to the telecommunications industry. The firm is increasingly active in the financial services industry, too. This is part one of a 2-part podcast series. There's also a guide available with the best of this interview: Unlock the power of personalized product offerings: 3 approaches for banks to provide the experiences their customers want. Download here: https://www.library.tearsheet.co/amdocs23

How ChatGPT will power ApexEdge’s next generation product and workforce (Episode 2/2)

zack.miller@gmail.com (Tearsheet Studios) — Mon, 24 Apr 2023 07:52:19 +0000

The public launch of generative AI in the form of ChatGPT greased the creative wheels for the impact of these types of technology. We’re seeing experts and firms scurrying, just trying to wrap their minds and their hands around AI. We had something similar a few years ago when chatbots for financial services started getting interesting. The thing is – these were primarily black-box technologies that seemed very abstract from daily life for consumers and for the teams of developers at banks tasked with managing them. ChatGPT changed that and with a slight change in interface, it’s unlocked a lot of use cases for financial services. We’re early for sure in this evolution but companies that have been studying the space are already beginning to make a move. ApexEdge provides consumers – through their banks and fintechs – subscription management tools. Want to easily unsubscribe from a subscription to a streaming service you’re not using much? ApexEdge makes that easy. It even has created technology to help you negotiate how much you’re paying for your subscription services. The firm, which has been curiously studying the evolution of generative AI since ChatGPT-1, is already at work building the next generation of its product with ChatGPT at its center – including embedding it into how its flagship product works, as well as implementing AI tools internally to boost efficiency and increase productivity. For ApexEdge, it’s a lot about scaling efficiently. This is one of the first cases we’ve seen of a fintech firm embracing the next generation of AI tools so openly. This story is part of a collaboration between ApexEdge and Tearsheet Studios. To read more, please head over to Tearsheet where there’s a downloadable guide and two episodes of a podcast about how ApexEdge is using AI as a foundation for the next generation of its product, as well as an important resource inside the firm. Michel Mora is the CTO of ApexEdge, which runs Billshark, a popular consumer app that enables people to easily cancel subscription payments they’re making to streaming services, for example. ApexEdge utilizes the same technology to enable banks, FIs, and PFMs to offer similar services to their customers. Download a guide to how ApexEdge is using ChatGPT to power the next generation of its product and workforce here: www.library.tearsheet.co/apexedge23

Stash's new CEO Liza Landsman on Stash Core, delighting customers, and moving into B2B

zack.miller@gmail.com (Tearsheet Studios) — Fri, 21 Apr 2023 04:10:45 +0000

Welcome to the Tearsheet Podcast. I'm Zack Miller. Company transitions are always interesting. One transition I particularly like is that pivotal point when a startup matures to the extent a founder steps aside and makes way for new leadership. It’s an important stage – figuring out how to balance the passion and insight of a founder with new leadership to continue to grow the vision. Stash, a company we’ve covered at Tearsheet over the past few years, is undergoing an important transition now. Liza Landsman joined a few months back as CEO. Liza seems to have the perfect background to lead Stash into its next leg of maturity – she combines deep product and leadership experiences in ecommerce, banking, and investing – at firms like Jet.com, Citigroup, BlackRock, and E*TRADE. She also worked with a lot of founders in her most recent role as investor at NEA. Stash’s model – which works with everyday folks to consistently invest a little bit at a time – itself is part banking, part ecommerce, and part investing. Liza joins me on the podcast to talk about her mandate as CEO and the work ahead. We talk about Stash’s mission and how it’s built a service that people genuinely enjoy using. Liza shares the metrics that will serve as the firm’s north star. We also discuss Stash Core – the firm built its next generation infrastructure that will allow it better economics as well as the ability to more easily plug in partners to the ecosystem. Liza says this will manifest itself on the consumer side but also in the firm’s new work embarking on B2B. Liza Landsman is my guest today on the Tearsheet Podcast.

How ChatGPT will power ApexEdge’s next generation product and workforce (Episode 1/2)

zack.miller@gmail.com (Tearsheet Studios) — Wed, 19 Apr 2023 10:10:14 +0000

The public launch of generative AI in the form of ChatGPT greased the creative wheels for the impact of these types of technology. We’re seeing experts and firms scurrying, just trying to wrap their minds and their hands around AI. We had something similar a few years ago when chatbots for financial services started getting interesting. The thing is – these were primarily black-box technologies that seemed very abstract from daily life for consumers and for the teams of developers at banks tasked with managing them. ChatGPT changed that and with a slight change in interface, it’s unlocked a lot of use cases for financial services. We’re early for sure in this evolution but companies that have been studying the space are already beginning to make a move. ApexEdge provides consumers – through their banks and fintechs – subscription management tools. Want to easily unsubscribe from a subscription to a streaming service you’re not using much? ApexEdge makes that easy. It even has created technology to help you negotiate how much you’re paying for your subscription services. The firm, which has been curiously studying the evolution of generative AI since ChatGPT-1, is already at work building the next generation of its product with ChatGPT at its center – including embedding it into how its flagship product works, as well as implementing AI tools internally to boost efficiency and increase productivity. For ApexEdge, it’s a lot about scaling efficiently. This is one of the first cases we’ve seen of a fintech firm embracing the next generation of AI tools so openly. This story is part of a collaboration between ApexEdge and Tearsheet Studios. To read more, please head over to Tearsheet where there’s a downloadable guide and two episodes of a podcast about how ApexEdge is using AI as a foundation for the next generation of its product, as well as an important resource inside the firm. Steve McKean is the CEO of ApexEdge, which runs Billshark, a popular consumer app that enables people to easily cancel subscription payments they’re making to streaming services, for example. ApexEdge utilizes the same technology to enable banks, FIs, and PFMs to offer similar services to their customers. Download a guide to how ApexEdge is using ChatGPT to power the next generation of its product and workforce here: https://www.library.tearsheet.co/apexedge23

'Is there a buffer in the system to absorb unexpected personal expenses?': Neal Desai, Kafene

zack.miller@gmail.com (Tearsheet Studios) — Mon, 17 Apr 2023 04:43:44 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miler, Tearsheet’s editor in chief. We’ve covered a lot about buy now, pay later over the years. BNPL’s rise was strong, given how it is embedded into a merchant’s checkout process and appealed to younger customers who preferred financing certain transactions and not the revolving credit of a credit card. Honestly, BNPL’s takeup and growth has overshadowed the emergence of other forms of financing. One of those is lease to own – if you’re my generation and grew up in the US, you’re probably familiar with lease to own through Rent-A-Center commercials. In my mind, that always associated lease to own with some kind of shady business to finance subpar pre-owned furniture with cigarette burns. Neil Desai is my guest today – he’s co-founder and CEO of Kafene, which takes a lease to own financing model and embeds itself within in-store shopping experiences of over 1000 merchants. Embedding lease to own opens up new products and experiences for lease to own customers, primarily subprime buyers. Neal and I talk about the difference between BNPL and lease to own and why there’s room for both. Neal feels it’s a better model for many people. We discuss the challenges and opportunities in building out Kafene’s merchant network and the flywheel that Neal feels is kicking in now. We also look at consumer lending in light of what’s happening economically today. Neal Desai is my guest today on the Tearsheet Podcast.

'There's been huge investment in point solutions, but they don't exist long term': Jay Dearborn, Wex

zack.miller@gmail.com (Tearsheet Studios) — Mon, 10 Apr 2023 07:06:25 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. For publicly traded fintechs at scale, Wex is an interesting one. Combining a fuel card business with corporate payments and a healthcare offering, the firm has found a way to grow consistently over a couple of decades. Strategically, the firm is looking at synergies in its businesses – it recently launched Flume, a B2B digital wallet. And, it’s looking strongly at M&A opportunities as valuations come down in this market. Jay Dearborn, Wex’s chief strategy officer, joins me on the podcast today to talk about the state of the market – namely, where there are opportunities for new products and acquisitions. Jay talks about the dynamics around revaluing fintechs – he doesn’t believe that it will ever really be a buyer’s market, but he does see the need for companies to get profitable – or at the least, be able to persuasively thread a story about what the path to profitability looks like. Jay Dearborn is my guest on the Tearsheet Podcast.

'Our customer acquisition engines are working very well': Dave's Jason Wilk

zack.miller@gmail.com (Tearsheet Studios) — Fri, 07 Apr 2023 06:54:23 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. We’ve been covering fintech Dave from its early days as a tool to help everyday folks avoid overdraft fees. From there, it evolved into a lender and more recently, it’s expanded into more general banking. It also went public last year. Founder and CEO Jason Wilk joins me on the podcast to catch up with what’s been going on at Dave after the firm reported its most recent quarter. We talked a lot about ExtraCash, the firm’s short term overdraft loan and the role it plays in Dave’s customer experience and business model. Recent financials show that the firm has made strides to bring down its expenses while it’s also improved its monetization of its user base of 8 million people. My guest today on the podcast is Jason Wilk.

‘Solving for financial anxiety is incredibly relatable’: Brittanie Williams, EarnIn

zack.miller@gmail.com (Tearsheet Studios) — Tue, 04 Apr 2023 03:57:46 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller, Tearsheet’s editor in chief. I really enjoy talking to marketers, especially about rebrands. For me, the process a firm goes through when it rebrands is incredibly insightful for the team, for customers, and for partners. Successful fintechs can grow so quickly, when they rebrand or even refresh their brands, it forces them to stop, to take stock, and look at who they really want to be when they grow up. Today’s guest on the podcast is Brittanie Williams, chief marketing officer at EarnIn. My pronunciation is purposeful – part of the rebrand the firm with earned waged access at its core just underwent meant even looking at its own name differently. Britt and I discuss the customer research that went into the new brand and what it showed about Americans living paycheck to paycheck. We talk about the use of a brand muse and what that can do to help focus marketing and product. We also chat about how the firm expanded the aperture of its value proposition – to include helping people with financial anxiety – and what that enables the firm and brand to do going forward. Brittanie Williams is my guest today on the Tearsheet Podcast.

'Our partners want to alter consumer behavior with the credit card': Marqeta's Simon Khalaf

zack.miller@gmail.com (Tearsheet Studios) — Thu, 30 Mar 2023 05:11:38 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. There are a few brands that are synonymous with the modern financial services tech stack: Stripe, Galileo, Square. Marqeta is definitely in that list. Founder Jason Gardner stepped down recently and the firm named Simon Khalaf CEO. Simon was previously chief product officer at the firm and joins us on the podcast to take a look at the current market dynamics in this complicated time for financial services and technology. Simon talks about Marqeta’s recent acquisition of credit card program manager Power and takes us behind the scenes to share why customer demand led to this acquisition. With Power and credit along side the firm’s tech in debit and prepaid, it sounds like cards have a lot of room to provide intelligence and guidance to their holders going forward. Simon Khalaf is my guest today on the Tearsheet Podcast. You can access the audio and a full transcript here: https://tearsheet.co/podcasts/our-partners-want-to-alter-consumer-behavior-with-the-credit-card-marqetas-new-ceo-simon-khalaf/

'You can programmatically use blockchain to reduce counterparty risk': Fireblocks' Michael Shaulov

zack.miller@gmail.com (Tearsheet Studios) — Sun, 26 Mar 2023 10:03:58 +0000

Welcome to the Tearsheet Podcast. I’m your host, Tearsheet’s editor in chief, Zack Miller. Today’s guest is Michael Shaulov, co-founder and CEO of Fireblocks. Michael strikes me as one of the smartest guys in finance – Fireblocks, for its part, is a platform to create blockchain-based products and manage day-to-day digital asset operations. Banks like BNY Mellon and BNP Paribas are using the firm’s wallet technology for digital asset custody. For an industry in flux, Michael is positioning Fireblocks as an important layer in the digital asset technology stack. Our discussion happened before the failure of SVB and the closure of Signature Bank. Michael’s pragmatic approach is refreshing and speaking to him, you get the feeling that he’s building something for the long run. Michael Shaulov is my guest today on the Teasheet Podcast. You can access the audio and a full transcript here: https://tearsheet.co/podcasts/you-can-programmatically-use-blockchain-to-reduce-counterparty-risk-fireblocks-michael-shaulov/

'You can get a massage in under an hour but ACH still takes days': Orum's Stephany Kirkpatrick

zack.miller@gmail.com (Tearsheet Studios) — Fri, 17 Mar 2023 08:00:30 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller, Tearsheet’s editor in chief. The move to faster payments is happening. When you zoom out and look where things like the real time payments initiatives are going to have a real impact, you can see that instant payouts can have a lot of resonance in insurance and supply chain. But to do this in B2B, you really need to make it easy and marry identity together with payouts. That’s because a lot more is at stake when things move to real time. My guest today on the show is Stephany Kirkpatrick, founder and CEO of Orum. Orum offers a single API integration for payouts that works over RTP, ACH, and other rails. Stephanie may be a financial planner by training but she’s all in on Orum and payouts. We discuss what’s driving the move to real time payments and how disbursements and early wage access are two of the most important first use cases. Stephanie shares what looking abroad can reflect about the road and impact to real time payments. She also shares her views on where the market is headed and her plans and goals for Orum in 2023. Stephany Kirkpatrick is my guest today on the Tearsheet Podcast. You can access the audio and a full transcript here: https://tearsheet.co/podcasts/you-can-programmatically-use-blockchain-to-reduce-counterparty-risk-fireblocks-michael-shaulov/

'Signal makes the US banking rails behave the way they should in the future': Plaid's John Anderson

zack.miller@gmail.com (Tearsheet Studios) — Fri, 10 Mar 2023 08:46:23 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor-in-chief, Zack Miller. A couple of years back, Visa made a move to acquire Plaid but the Justice Department scuttled the deal. The idea was if a company whose business it was to create nodes at most of the financial institutions in the US and with millions of customers, it wasn’t far-fetched to see Plaid become a mover of money, not just financial data. Well, Plaid now does over a billion ACH transactions a year and is investing more deeply into its payments offerings. The firm recently hired John Anderson from Meta, who has a 20-year history with building out innovative payments platforms. I spoke with John about Plaid’s positioning in payments and where it’s headed. The company recently released Signal, an ACH risk assessment and scoring API. John Anderson is my guest today on the Tearsheet Podcast. You can access the full transcript and audio here: https://tearsheet.co/podcasts/signal-makes-the-us-banking-rails-behave-the-way-they-should-in-the-future-plaids-john-anderson/

TSPRO#1: ChatGPT and what it means for financial services

zack.miller@gmail.com (Tearsheet Studios) — Thu, 09 Mar 2023 08:03:27 +0000

Welcome to our first Tearsheet Pro webinar. This is for Tearsheet Pro subscribers. And this is where we go deeper into some of the topics that are really impacting financial services. You have to be living in a cave not to have experienced the excitement or elation around ChatGPT. For me and for the rest of our team, it really got our gears going about the potential impact of AI in financial services. I've invited two experts to our show to basically separate facts from fiction and really get a feel for what the opportunities are in financial services as we approach these types of technologies and what may be just sort of fantasy. Joining me on the show, I have Moses Guttmann, who's co-founder and CEO of ClearML. Moses brings more than 20 years of experience making visionary technologies a reality. He's co founder and CEO of ClearML, where he leads the teams behind the industry's only unified end to end frictionless MLOps platform. Prior to ClearML, Moses co founded and led several startups in the computer vision and embedded processing spaces, including Optical, CV for 3D cinema, and an embedded CV startup during his PhD, the last two of which were sold. Moses is an alumnus of the IDF 81 elite technology unit. He's been granted 13 patents and has applied for an additional 27 patents in the field of machine learning. He has been published in five academic journals, Moses is a graduate of Tel Aviv University with a Bachelor of Science and Master of Science degrees in computer science. Dev Patnaik is the CEO of Jump Associates, the leading independent strategy and innovation firm. He’s a board member of Conscious Capitalism. Dev has been a trusted advisor to CEOs at some of the world’s most admired companies, including Starbucks, Target, Nike, Universal and Virgin. Dev is a frequent keynote speaker at major forums, and his writing has appeared in BusinessWeek, Forbes, Fast Company, and many others. He is the author of the book Wired to Care, named one of the best books of the year by both Fast Company and Business Week. Malcolm Gladwell called Wired to Care “just what we need for the lean years ahead.” When not at Jump, Dev’s also an Adjunct Professor at Stanford University, where he teaches social science methods to MBA and design students.

Why Amex launched a B2B payments ecosystem

zack.miller@gmail.com (Tearsheet Studios) — Wed, 01 Mar 2023 11:00:58 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Today’s guest on the show is Mohammed Badi, head of American Express’s global network business. He spoke at our Power of Payments conference last year and I invited him back on our podcast to talk about two new recent launches Amex made that I wanted you to hear more about. The first is Amex Business Link, a B2B payments ecosystem that includes Amex’s commercial bank partners, for their customers and their suppliers. B2B payments continue to be an important theme, as different players come at this from their unique angles. The second launch is a co brand card Amex recently launched with Simon malls that rewards in-person shopping. As the pandemic wanes, there is an appetite for in-person shopping (remember that?) – this card targets a younger demographic with incentives for spending money at malls. Mohammed and I discuss these new products as well as trends in Amex’s network business. Today’s guest is Amex’s Mohammed Badi.

Power of Payments Ep. 24: Talking FedNow and real-time payments with Bottomline’s Jessica Cheney

zack.miller@gmail.com (Tearsheet Studios) — Tue, 28 Feb 2023 11:41:00 +0000

Welcome back to the Power of Payments podcast. I’m your host Ismail Umar, and today I’m joined by Jessica Cheney, VP of Product for the Digital Banking Solutions group at Bottomline Technologies. Jessica has been with Bottomline for over a decade. Prior to that, she held similar roles at a number of other fintechs, and was also part of the commercial product management group at US Bank. She has been involved with real-time payments for many years now, and says she has a comprehensive outlook on how payments impact financial services from a commercial, fintech, and retail perspective. In our conversation today, Jessica discusses the current state of adoption of real-time payments in the US, and how the launch of FedNow – the Federal Reserve’s instant payment service – is going to impact the banking industry. She also talks about how SMBs can use real-time payments to improve their day-to-day operations, and the overall impact that RTP adoption will likely have on banks, businesses, and consumers in the coming years. Listen to the full episode and get the transcript here: https://tearsheet.co/power-of-payments-podcast/power-of-payments-ep-24-talking-fednow-and-real-time-payments-with-bottomlines-jessica-cheney/

Surveying global banking and niche payments with Standard Chartered's Anand Natarajan

zack.miller@gmail.com (Tearsheet Studios) — Wed, 22 Feb 2023 07:31:06 +0000

Get the full transcript here: https://tearsheet.co/podcasts/surveying-global-banking-and-niche-payments-with-standard-chartereds-anand-natarajan/ Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. An interesting thing is starting to happen with partner banks. What began as the purview of some smaller, regional players is now becoming interesting to some of the largest global banks. For example, we spoke a couple of weeks ago to Citi about its plans to provide partner bank services for global firms. That means a brand or fintech with global aspirations could work with a single bank in each market, instead of partnering with different local players on the ground. Standard Chartered is already supporting its clients with its own extensive footprint in Asia, Africa, and the Middle East. I spoke with Anand Natarajan, who covers the technology, media and fintech segments for the firm’s treasury services. At a conversation that began in Las Vegas in 2022 and continued into the beginning of 2023, Anand shares his view on a wide range of topics including evolving merchant ecommerce experiences, social commerce, gaming payments, CBDCs and more. It was an engaging conversation – hope you enjoy it. Here’s my talk with Anand Natarajan.

'Are we at the digital tipping point for payments yet?': Deloitte's Zachary Aron

zack.miller@gmail.com (Tearsheet Studios) — Wed, 15 Feb 2023 06:49:13 +0000

Link to the full transcript: https://tearsheet.co/podcasts/are-we-at-the-digital-tipping-point-for-payments-yet-deloittes-zachary-aron/ Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. My guest today is Zachary Aron. At Deloitte, Zach heads the payments practice globally and co-leads the US. We spend quite a bit of time trying to understand the move towards payments modernization. Of course, the current economic challenges influence how Deloitte’s clients are thinking about things like RTP and ISO20022 – Zach sees some FIs taking advantage of the opportunities to both streamline payments operations and products with an eye on future competitiveness. Zach also shares why he thinks payroll is one of the first use cases of real time payments. I first met Zach at Money 2020 in 2022 and this episode is a continuation of the conversation that was started in Las Vegas. Zachary Aron is my guest today on the Tearsheet Podcast.

Power of Payments Ep.23: Elon Musk's grand ambitions for Twitter Payments, Cash App Savings and more

zack.miller@gmail.com (Tearsheet Studios) — Fri, 10 Feb 2023 11:07:21 +0000

Welcome back to the Power of Payments podcast. I’m your host Ismail Umar, and in today’s episode, we discuss Elon Musk’s payments plans for Twitter, and Cash App’s new savings feature. We also talk about Gen Z’s changing preferences when it comes to sending and receiving money digitally.

Behind the Pathward rebranding with CEO Brett Pharr

zack.miller@gmail.com (Tearsheet Studios) — Wed, 08 Feb 2023 09:50:16 +0000

Welcome to the Tearsheet Podcast. I'm Zack Miller, Tearsheet's editor in chief. My guest today is Brett Pharr, CEO of Pathward Financial. You might not have heard of Pathward – it’s more likely you have heard of Meta Bank, which recently rebranded to Pathward. I spoke with Brett about the community bank and payments legacy the firm has and how it impacted the decision to rebrand in 2022. Link to the full transcript: https://tearsheet.co/podcasts/behind-the-pathward-rebranding-with-ceo-brett-pharr/ I always find it interesting and insightful to hear about these stories – about how an established financial institution decides on and aligns around a rebranding. It’s a big deal to change your name – Brett gives us insight into how the firm is positioning itself for future growth. Brett Pharr is my guest today on the Tearsheet Podcast.

'There's a shift in what banks want to work on vs what consumers are driving': Mambu's Robin Smith

zack.miller@gmail.com (Tearsheet Studios) — Wed, 01 Feb 2023 08:46:20 +0000

Link to the full transcript: https://tearsheet.co/podcasts/theres-been-a-shift-in-what-banks-want-to-work-on-versus-what-consumers-are-driving-mambus-robin-smith/ Welcome to the Tearsheet Podcast. I'm Zack Miller, Tearsheet's editor in chief. Robin Smith is vice president of North America for banking software provider, Mambu. Robin has been in the fintech space for over 30 years, leading teams at Oracle, FIS, and Fiserv. Robin’s got a wealth of experience and knowledge over what’s happening in the core banking software industry, and at banks in general. Our conversation spans current trends, banks’ challenges and opportunities with going digital, the partner ecosystem Mambu has built in the US to support its customers, and more. Robin Smith is my guest today on the Tearsheet Podcast.

Power of Payments Ep. 22: 'The most important asset for SMB owners is time' – Chase’s Brad Brodigan

zack.miller@gmail.com (Tearsheet Studios) — Fri, 27 Jan 2023 12:31:24 +0000

Link to the full transcript: https://tearsheet.co/payments/power-of-payments-ep-22-frankly-the-most-important-asset-for-smb-owners-is-time-chases-brad-brodigan/ Welcome back to the Power of Payments podcast. I’m your host Ismail Umar, and today, I’m joined by Brad Brodigan, managing director and global head of SMB payments at Chase. Brad says he has a passion for working at the intersection of payments, technology, and small business. He’s spent the last 15 years using innovations in payments technology to provide SMB owners with more efficient ways of running their business. Over the last decade, Brad has held a variety of roles at firms including PayPal, Dosh, and BlueVine. In our conversation today, Brad discusses the most important trends he’s seeing in SMB payments right now, the kinds of attributes that SMBs look for in a payment processor, and how their needs differ from those of enterprises and retail customers. He also talks about how current macroeconomic challenges are affecting the demands and expectations that small business owners have from their financial providers.

Behind the launch of the QuickBooks Business Network with Intuit's Juliana Berger

zack.miller@gmail.com (Tearsheet Studios) — Wed, 25 Jan 2023 05:53:35 +0000

Welcome to the Tearsheet Podcast. I'm Zack Miller, Tearsheet's editor in chief. I don’t know what they serve at the snack bar at Intuit, maker of QuckBooks and the financial ecosystem around it, but when you speak to senior leadership, they seem almost maniacal about serving SMBs. And what the firm has done over the past few years is make its bookkeeping software the center of a financial services ecosystem that includes payments, lending, and banking. Now, Intuit is looking to take its ecosystem and tools to midmarket and B2B firms with the launch of the QuickBooks Business Network which creates one of the largest B2B networks and automates B2B payments, improving overall cash flow for this particular user set I’m joined by Juliana Berger, the director of payments for QuickBooks. You’ll hear the passion she has for serving SMBs. We talk about the breadth and depth of Intuit’s SMB offering. Juliana shares the pain points SMBs are feeling in this economy and what the software firm is doing to address them. There’s a lot of talk about invoicing and payments flows with an increasing amount of automation mixed in. Her excitement about the space is infectious. Intuit’s Juliana Berger is my guest today on the podcast.

Behind Citi’s move to become a global partner bank with Chafic Haddad

zack.miller@gmail.com (Tearsheet Studios) — Wed, 18 Jan 2023 09:43:57 +0000

We’re in a transitional period when it comes to how banks and fintechs partner. If 2022 was the year of launching partnerships between FIs and tech firms, this year is more about fine-tuning them. Partner banks are seeing more scrutiny as more banks have chosen the route of serving fintechs. At Money 2020 this year, Tearsheet Editor-in-Chief Zack Miller sat with Chafic Haddad, Citi’s global head of fintech within the firm’s transaction bank. When he said that one of the largest international banks was really trying to align and position itself as a global partner bank to top fintechs, Miller told Chafic he had to join us on the podcast to talk about what all that means. Chafic shares the mandate of his new role within the firm and why non-bank partnerships have been the fastest growing segment over the past few years. We discuss what Citi offers fintechs and the challenges and opportunities in providing these firms with global transaction and trade capabilities.

Steez Podcast #5: Putting our money where our future is

zack.miller@gmail.com (Tearsheet Studios) — Wed, 18 Jan 2023 06:37:50 +0000

In the fifth and final episode of the Steez podcast, we talk about how Gen Z views sustainable investing. They are not just investing to align with their values. They are actively driving change with every purchasing preference and transaction. Our host, Rebecca Cohen, is joined by Jessica Matthews, Managing Director and Global Head of Sustainable Investing at J.P. Morgan, Jean-Louis Warnholz (CEO and Co-founder), and Eunice Jung (Head of Partnerships) from Future.

Power of Payments Ep. 21: 10 predictions for the payments industry in 2023

zack.miller@gmail.com (Tearsheet Studios) — Fri, 13 Jan 2023 10:00:01 +0000

Welcome to the first Power of Payments podcast episode of 2023. For our first episode of the year, we’re doing something a little different. Instead of doing a round-up of recent news in the world of payments, this week we’re going to talk about what the near future looks like for the payments industry. To kick off my payments coverage for 2023, I wanted to hear from people in the industry about what they believed would be the most important trends in payments this year. I asked a number of experts from across the payments spectrum to share their thoughts with me and predict what trends we can expect from the industry in the next 12 months. Based on those predictions, I’ve compiled 10 trends that are likely to shape the payments landscape this year. Important themes for 2023 – in no particular order – involve B2B payments, M&A activity, real-time payments, digital wallets, fraud, sustainability, and more.

Inside Synchrony's top strategy and corporate investing role with Trish Mosconi

zack.miller@gmail.com (Tearsheet Studios) — Thu, 12 Jan 2023 05:44:42 +0000

Today on the Tearsheet Podcast we have Trish Mosconi, chief strategy officer at Synchrony. In addition to strategy for the bank, she also heads up the firm’s venture investing and M&A activities. We discuss her mandate and how Synchrony looks at investing and partnering with fintech as it continues to invest in its consumer finance platform. I appreciate how Trish and the bank have paired strategy to both investing for the long term and partnering for the present. The deterioration of the investment environment around fintechs can definitely play into Synchrony’s plans. Trish Mosconi is my guest today on the Tearsheet Podcast.

Steez Podcast #4: The new age of e-commerce

zack.miller@gmail.com (Tearsheet Studios) — Wed, 04 Jan 2023 08:15:24 +0000

In episode 4, we talk about how Gen Z is changing the financial space in e-commerce. They prefer shopping experiences that are more convenient and spontaneous, seamlessly interwoven with social media. Our host, Rebecca Cohen is joined by Mallory Russell, head of global content at Square, Michael Saadat, head of public policy at Block, and Maran Nalluswami, SVP of diversified and value at Synchrony.

The Green Finance Podcast Ep. 16: What’s the environmental impact of payments?

zack.miller@gmail.com (Tearsheet Studios) — Fri, 23 Dec 2022 09:55:06 +0000

In our journey of reducing our carbon footprint, it turns out that it’s not only what we buy that can make the difference — how we pay for things can play a part, too. According to a GoCardless study, using alternative payment methods like ACH can help consumers lower their carbon footprint by generating zero carbon emissions. This comes in comparison to credit cards, which in 2021 generated an amount of CO2 so high it was the equivalent of driving a diesel car around the Earth approximately 43,000 times. Considering that consumers are actively looking for more ways to reduce their environmental impact, how should we think about payments? How can this sector decarbonize, and what impact can that have? To help us answer these questions, I’ve invited Ben Knight, Head of Environmental Sustainability at GoCardless, a direct bank payment solutions company. Ben’s diverse experience paired with his passion for sustainability and the fact that he’s just a great person to talk to, resulted in a really fun conversation.

'I am a strong believer in lightning strike marketing': Zeta's Bhavin Turakhia

zack.miller@gmail.com (Tearsheet Studios) — Thu, 22 Dec 2022 10:08:09 +0000

If you’ve been to Money 20/20 the past couple of years, you’re likely to have encountered Zeta. Maybe you were one of the 10,000 people who attended the Journey and Foreigner concerts the company sponsored. Or maybe you stopped by the firm’s big booth at the center of the floor. That type of marketing – what founder Bhavin Turakhia likes to call ‘nuclear strikes’ – is helping the credit card as a service firm mature in the US. Bhavin shares with us the playbook he’s using to grow Zeta, honed from his experience building and growing three other SaaS firms in his career. We discuss why Zeta targets the largest banks and fintechs and how the firm is landing and expanding via enterprise sales. Talking to Bhavin is like talking to a professor of real life business – he readily shares his experiences and frameworks for how he’s thinking about scaling his fintech firm. Bhavin Turakhia is my guest today on the Tearsheet Podcast.

Steez Podcast #3: FinTok, memestocks, and everything in between

zack.miller@gmail.com (Tearsheet Studios) — Wed, 21 Dec 2022 08:00:21 +0000

In episode #3 of the Steez podcast, we talk about FinTok, and why Gen Zers are getting their financial education from social media. Our host, Rebecca Cohen is joined by Michael Wang, founder, and CEO of Prometheus, Jeff Frommer, Chief Content Officer at MoneyLion, and Michael Borough founder of Altro.

Power of Payments Ep. 20: Walmart's interest in BNPL, Stripe's fiat-to-crypto widget, and more

zack.miller@gmail.com (Tearsheet Studios) — Fri, 16 Dec 2022 11:06:43 +0000

Welcome back to the Power of Payments podcast. I’m your host Ismail Umar, and in today’s episode, we will discuss Walmart’s growing interest in BNPL and financial services, and Stripe’s new fiat-to-crypto payment offering. We will also talk about Wise and Deel’s new feature for global payroll, and the potential benefits and pitfalls of FedNow for B2B payments.

'My goal is to be, dollar for dollar, the most helpful investor through 24 months': Rex Salisbury

zack.miller@gmail.com (Tearsheet Studios) — Mon, 12 Dec 2022 10:00:20 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. I like talking to investors in financial services and fintech. I find that their perspectives, particularly around trends and big picture moves, are helpful in understanding what’s going on. Today’s guest is Rex Salisbury, entrepreneur, investor, and builder. He recently left Andreesen Horowitz to return to his roots, building networks of fintech founders and helping them with connections and expertise. He recently launched a $20 million fund and has made 9 investments so far. I spoke to Rex about his background as a community builder and the impact that has on the companies he invests in. We talk about his time at a16z, which saw massive growth in the team and the space. Rex shares why he looks to invest in ‘deep, boring, and broken’ spaces in the financial technology stack and why ‘fitnech at the intersection of something’ is a good investment strategy. Our broad reaching talk spans mortgage software to fintech community meetups in San Francisco to Big Tech’s interest in financial services. Rex Salisbury is my guest today on the Tearsheet Podcast.

The Green Finance Podcast Ep. 15: Why climate AI is essential to reach net zero

zack.miller@gmail.com (Tearsheet Studios) — Fri, 09 Dec 2022 10:53:05 +0000

Today, we're talking about artificial intelligence – a tool uniquely positioned to help manage the complex issues presented by climate change. Due to its capacity to gather, complete, and interpret large, complex datasets on emissions, climate impact, and more, it can be used to support all stakeholders in taking a more informed and data-driven approach to combating carbon emissions and building a greener society. To help us understand more about how AI can help us solve the climate crisis, I've invited BCG's leading sustainability expert Mike Lyons to expand upon the real-world, practical applications for climate AI. To read the transcript of our conversation, please visit Tearsheet.co Sign up here for the Green Finance Newsletter: https://tearsheet.co/newsletters/

'Our bet is that ESAs will be similar to the last 20 years of HSAs': SecureSave's Devin Miller

zack.miller@gmail.com (Tearsheet Studios) — Thu, 08 Dec 2022 10:00:34 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet's Editor, Zack Miller. There are a couple of things about advances in financial services that continuously get me juiced – even after a decade of covering the space. One is when new products emerge that just work, whether that’s through integrating into existing platforms or through automation. There’s something almost magical when that happens. Another thing that inspires is inclusiveness – there’s so much being done at incumbents and fintechs that will make financial services more inclusive in the future. SecureSave ticks both of those boxes. It’s trying to popularize the emergency savings account. Haven’t heard of an ESA? That’s OK, I hadn’t either but it functions similar to a Health Savings Account and is intended to help employees save for an emergency. Offered through employers, an ESA is likely to have the same preferred tax treatment an HSA has in the future if Devin Miller has his way. With a strong background in financial software, Devin is a co-founder of SecureSave and is following the HSA playbook for bringing his firm and HSAs to market. Devin Miller is my guest today on the Tearsheet Podcast.

Steez Podcast #2: Gen Zers and the creator economy

zack.miller@gmail.com (Tearsheet Studios) — Wed, 07 Dec 2022 09:20:51 +0000

Today’s episode is all about the creator economy. Host Rebecca Cohen was joined by Tony Tran, CEO of Lumanu, Blake Michael, Creator with 5M+ followers, actor and entrepreneur, and Julia Montgomery CEO and founder of Influent. The creator economy is an important conversation when capturing and retaining Gen Z for two main reasons. First, the entire line of communication for brands with their audiences must adapt to the channels by which Gen Zers communicate and require work with the creator economy that is already ruling those spaces. Secondly, young people, Gen Zers in particular, are at the forefront of this economy and are operating as one-person businesses. The industry is light years behind conquering the Gen Z mindset. That’s why we’ve partnered with Publicis Sapient to create #STEEZ, a hub for finserv potentials to learn more about Gen Z and what it means to capture and delight them. Download The STEEZ Guide to Gen Z readiness, here: https://steezlife.co/

How FNBO built Bend, an in-house credit card as a service offering with Marc Butterfield

zack.miller@gmail.com (Tearsheet Studios) — Mon, 05 Dec 2022 11:00:54 +0000

Whenever I’ve spoken about transformation of traditional banks, I pointed to Goldman Sachs building Marcus, its new mainstreet brand. But look around the industry and there aren’t a lot of good stories of digital transformation. Even Goldman is trying, but it isn’t clear that Marcus is working financially, even though it has attracted a lot of deposits. That’s why stories about a traditional institution evolving into something new are compelling – it’s just really hard to do. Marc Butterfied heads innovation for the First National Bank of Omaha. And he and his team recently launched Bend, a credit card as a service offering that’s competitive to fintechs in the space. Marc shares how he went about creating a startup within the bank that made the most of its resources and institutional knowledge and experience to punch above its weight. We discuss the new product, Bend, and its work with Greenlight to launch a credit card used by families and kids. Marc Butterfield is my guest today on the Tearsheet Podcast.

Power of Payments Ep. 19: Stripe’s Josh Ackerman on the changing nature of online checkout

zack.miller@gmail.com (Tearsheet Studios) — Fri, 02 Dec 2022 11:00:53 +0000

Welcome back to the Power of Payments podcast. I’m your host Ismail Umar, and in today’s episode, I’m joined by Josh Ackerman, Product Lead at Stripe. Josh leads a team of product managers that are constantly building and improving Stripe’s core payment products, which include Stripe Checkout, Stripe Payment Links, and Stripe Elements. His team creates APIs that allow startups, growth-stage companies, and larger enterprises to accept online payments. These products are used by millions of merchants and billions of end customers in different parts of the world. Josh joins me today to discuss the key findings from Stripe’s recent State of Checkouts report. He talks about the existing gaps between consumer expectations from online checkout and what most merchants currently offer, as well as how the checkout experience has evolved over the years.

The Green Finance Podcast Ep. 14: COP27 - is finance ready to move from pledges to implementation?

zack.miller@gmail.com (Tearsheet Studios) — Wed, 30 Nov 2022 08:00:23 +0000

COP27 ended around a week ago, and by now we've all probably seen the headlines – an agreement was finally reached to create a loss and damage fund to help poorer countries most impacted by climate change. Wealthier countries should pay, but exactly who will pay what is yet to be determined. While this agreement is a big milestone, there are some key aspects missing – there are no mentions of emissions peaking before 2025, or a clear follow-through on pashing down coal, which is discouraging. To help us get a better sense of what happened at the conference, today we're chatting with Lubomila Jordanova, the founder and CEO of PlanA. To read the transcript of our conversation, go to tearsheet.co.

'Everything else is just all digital': Wells Fargo's Ulrike Guigui on enterprise payments trends

zack.miller@gmail.com (Tearsheet Studios) — Mon, 28 Nov 2022 11:05:13 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller, and this was recorded live from the podcast stage at Money 20/20 this year. One of the things I find striking is how the event has evolved over the past few years. Where in years past, we saw a lot of consumer – we’re beginning to see more and more solutions targeting the enterprise. I think that’s clearly the case in enterprise payments. They’re just much harder to solve for. I’m joined today by Ulrike Guigui, head of enterprise payments strategy at Wells Fargo. We’re going to jump right in and talk about large firms' needs in today’s payments environment and what technologies they’re turning to to make it happen.

Steez Podcast #1: Building Banking for the Youth, and the People

zack.miller@gmail.com (Tearsheet Studios) — Wed, 23 Nov 2022 11:07:52 +0000

As consumers, Gen Zers are proving themselves to be quite different from previous generations – and that doesn’t just have to do with being digital-first. Short for 'style and ease', Steez marks Tearsheet’s dive into understanding the unique financial demands and preferences of this emerging generation of adults, including in-depth research into consumer behavior and conversations with leading experts in the field. The industry is light years behind conquering the Gen Z mindset. That’s why we’ve partnered with Publicis Sapient to create #STEEZ, a hub for finserv potentials to learn more about Gen Z and what it means to capture and delight them (download The STEEZ Guide to Gen Z readiness, here: https://steezlife.co/) FIRST EPISODE OF THE STEEZ PODCAST We’re kicking off the first episode of our Steez Podcast with a bang and a common message: youth are the future.. Host Rebecca Cohen was joined by Kristy Kim, CEO of TomoCredit, Michael T. Pugh, CEO, and President of Carver Federal Savings Bank, and Lule Demmissie CEO of eToro. TOPICS DISCUSSED You’ll learn: The data: Gen Z already has $360 billion in disposable income, and they’re just getting started. How Gen Z is impacting the investment industry and how firms are changing to better serve them Why Gen Z sees money differently than previous generations and how that’s impacting payments and credit cards The role financial education plays in Gen Z decisioning and how FIs are leveraging their learning assets to increase financial literacy How the changing nature of work for young people is impacting what they’re looking for from their financial institutions

Where Credit's Due Ep.13: The growing popularity of virtual credit cards, with Deserve and M1

zack.miller@gmail.com (Tearsheet Studios) — Wed, 23 Nov 2022 09:59:13 +0000

The growth of digital banking has also welcomed the emergence of virtual cards. Virtual cards exist only in digital form, in a digital wallet. Say bye to plastic and hello to code. This is a big reason why virtual cards are increasing in popularity – they offer more robust security measures, making it harder for hackers and fraudsters to skirt the system. There's also very compelling business use cases for virtual cards. Corporate expense management might be moving from tediously having to submit all that boring info about that client lunch to just tapping a virtual corporate card with a smartphone. Some have even called this a revolution in business expense management – no more boring time consuming software, now a company can issue however many corporate cards it wants and each card can have its own restrictions. I'm talking about all of this today with my guests Kalpesh Kapadia, CEO at Deserve, a credit-card-as-a-service provider, and Brian Barnes, CEO at personal finance platform M1. Click here to read the transcript of our conversation: https://tearsheet.co/where-credits-due-podcast/where-credits-due-ep-13-the-growing-popularity-of-virtual-cards-with-deserve-and-m1

Power of Payments Ep. 18: Chase disrupting rent payments, MoneyGram's crypto expansion, and more

zack.miller@gmail.com (Tearsheet Studios) — Fri, 18 Nov 2022 11:00:31 +0000

Welcome back to the Power of Payments podcast. I’m your host Ismail Umar, and in today’s episode, we will discuss why JPMorgan Chase is launching a digital rent payment solution, and how American consumers plan to use more flexible payments this holiday season. We will also talk about MoneyGram’s recent crypto expansion, and the potential role of digital currencies in the remittance industry.

'For each card issuing module we roll out, we should have a unique right to win': Lithic's Bo Jiang

zack.miller@gmail.com (Tearsheet Studios) — Mon, 14 Nov 2022 08:59:44 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. I’m just back from Money 20/20 and a big theme this year was embedded finance. There were a host of old and new players vying for position in the financial tech stack. It makes sense – a few years ago, you could have counted the embedded platforms on one hand. Now there are dozens, just in the US. Enter Lithic, a software infrastructure company that enables companies to launch new card programs. I sit with co-founder and CEO, Bo Jiang, who shares his firm’s genesis story and describes the impact being born out of a consumer app has had on Lithic. We talk about how the firm stacks up against other embedded finance players and the need to scale as a platform in the space. Bo Jiang is my guest today on the Tearsheet Podcast.

The Green Finance Podcast Ep. 13: Debunking carbon credits and voluntary carbon markets

zack.miller@gmail.com (Tearsheet Studios) — Fri, 11 Nov 2022 13:05:51 +0000

Today we're talking about voluntary carbon markets and carbon credit ratings. So many companies are now making net zero commitments, and the way to get there is by cutting down their own emissions and using voluntary carbon credits to compensate for residual emissions, as it's nearly impossible to be perfectly carbon neutral without them. However, the voluntary carbon credit market is relatively new and many companies are over relying on carbon credits in the rush to call themselves carbon neutral. In order for this market to function properly, it needs accessible and quality information as well as trust and integrity. We need more funds to flow towards climate solutions, and carbon markets can facilitate this by creating investable carbon assets. But we need to ensure that on the supply side, the carbon credits are of the highest quality, and on the demand-side we need to avoid ‘greenwashing’ by ensuring those credits do not allow companies to avoid cutting their own emissions. I'm talking about all this today with Tommy Ricketts, CEO of BeZero Carbon, a company that provides carbon credit ratings and research tools to support buyers, intermediaries, investors, and carbon project developers. To read the transcript of our conversation, visit Tearsheet.co.

Where Credit's Due Ep. 12: On Upgrade's B2C fintech lending strategy, with CEO Renaud Laplanche

zack.miller@gmail.com (Tearsheet Studios) — Wed, 09 Nov 2022 10:44:31 +0000

With a recession looming, consumer spending and overall financial health is under pressure, creating a tricky environment for B2C fintech lenders. Today, thereʼs less demand for consumer loans, and lenders are tightening their credit books. The ʻcautious approachʼ narrative prevails in many interviews and conference calls. But not every fintech lender is the same. There are many business models currently on the market – some more successful than others – and on most of them, the juryʼs still out. Most havenʼt been tested yet by a down market, which is one of the biggest hurdles to overcome for any lender. In this context, I sat down with Renaud Laplanche, CEO at Upgrade, one of the main direct-to-consumer fintech lenders in the US. We discussed the macro environment, and how he designed Upgradeʼs business model in a way that is proving resilient during these turbulent times. To read the transcript of our conversation, head over to Tearsheet.co.

Power of Payments Ep. 17: Breaking down B2B BNPL with Resolve’s Chris Tsai

zack.miller@gmail.com (Tearsheet Studios) — Fri, 04 Nov 2022 11:02:09 +0000

Welcome back to the Power of Payments podcast. I’m your host Ismail Umar, and in today’s episode, I’m joined by Chris Tsai, co-founder and CEO at Resolve. Resolve is a B2B payments firm that offers a BNPL solution for business purchases. It allows merchants to extend net terms to their business customers by taking care of credit checks, invoice financing, and accounts receivable processes. Resolve spun out of Affirm and is backed by Max Levchin, who co-founded PayPal and Affirm. In our conversation, Chris talks about how Resolve’s product is different than that of consumer BNPL providers like Affirm and Klarna, how current macroeconomic challenges are affecting firms in the space, and what we can expect from the B2B BNPL sector in the coming years.

The Green Finance Podcast Ep. 12: How do we make investments green, without going into the red?

zack.miller@gmail.com (Tearsheet Studios) — Fri, 28 Oct 2022 08:56:33 +0000

When it comes to investing in sustainable projects, there are still many unknowns. Demand from investors is growing, but it's not consistent across the board and connecting it to the supply side remains challenging. Project financiers usually take less technical risks on more mature technologies, and when it comes to sustainability, many technologies are new. We need tools that enable project financiers to get comfortable with exploring and entering new markets. It will be interesting to see how the new Inflation Reduction Act will help on this front, and we are chatting about this today with Amanda Li, Co-Founder and COO of Banyan Infrastructure. Banyan is an investment facilitator for sustainable infrastructure headquartered in San Francisco, a business on a mission to unlock capital for the financing of green infrastructure projects of all sizes in a profitable way. Amanda has over ten years’ experience in engineering for sustainable development. Passionate about opening financial doors for green infrastructure projects. We had a real fun conversation, so let's dive right in.

Where Credit's Due Ep. 11: Unpacking the CFPB's BNPL report with Marshall Lux

zack.miller@gmail.com (Tearsheet Studios) — Wed, 26 Oct 2022 09:19:27 +0000

Today we're having an honest conversation about Buy Now, Pay Later (BNPL). The ease of use of BNPL products has been associated with increased spending and could drive negative consumer consequences, prompting US regulatory agencies to look deeper at this rapidly growing space. Last December, the CFPB launched an investigation into the business practices in BNPL sector due to mounting concerns about “accumulating debt, regulatory arbitrage, and data harvesting in a consumer credit market already quickly changing with technology.” Then the bureau issued orders to five BNPL lenders, asking for detailed information on the activities and risks inherent to their lending practices. Director Rohit Chopra ordered Affirm, Afterpay, Klarna, PayPal, and Zip to submit information so that the bureau can report to the public about industry practices and risks. Now the report is out, and we're exploring it in today's episode with my guest Marshall Lux. With a credit risk experience spanning over three decades, including serving as JPMorgan Chase’s Chief Risk Officer of consumer products during the global financial crisis, Marshall supports enhanced regulatory oversight in the BNPL space. He wrote a paper on the risks associated with BNPL, and on what regulation could look like in this space. You can check it out here: https://www.hks.harvard.edu/sites/default/files/centers/mrcbg/files/182_AWP_final.pdf To read the transcript of our conversation, please go to Tearsheet.co.

Power of Payments Ep. 16: Digital wallets, credit cards vs competitors, and Visa targets creators

zack.miller@gmail.com (Tearsheet Studios) — Fri, 21 Oct 2022 11:00:37 +0000

Welcome back to the Power of Payments podcast. I’m your host Ismail Umar, and in today’s episode, we take a look at how digital wallets have performed in the US over the past year, and why credit cards are struggling to fight off competitors like BNPL and debit cards. We also discuss Visa’s latest move indicating its growing interest in the global creator economy.

WTF is Software Defined Networking with IBM's Andrew Coward

zack.miller@gmail.com (Tearsheet Studios) — Thu, 20 Oct 2022 09:00:16 +0000

Welcome to the Tearsheet Podcast. I'm Zack Miller, Tearsheet's editor in chief. Building on top of a bank – the way Banking as a Service enables a tech company to do – has some interesting side effects. Who controls the traffic in the network? Regulators are increasingly interested in sorting out how financial institutions partner with tech firms and that means understanding how all these constituent parts fit together. Today’s guest is Andrew Coward, general manager of IBM’s software networking business. His team works with financial institutions on SDN – or software defined networking – to bring control and policy management back into their infrastructure regardless of where their application lives. Andrew explains what SDN is and how we got here in history. We discuss how SDN plays into the future of financial services, too. I ask Andrew about the rollout of 5G and how that impacts banks and traditional FIs. Andrew Coward is my guest today on the Tearsheet Podcast.

The Green Finance Podcast Ep. 11: Running a bank with climate change at its core

zack.miller@gmail.com (Tearsheet Studios) — Fri, 14 Oct 2022 10:06:29 +0000

In addition to making a profit, banks can be a societal force for good. This is why Ken LaRoe came out of retirement to start Climate First Bank, the world’s first climate-focused, FDIC-insured commercial bank. Climate First Bank joined the Net-Zero Banking Alliance in January 2022 and is currently in the process of building out its 2050 plan. Climate First Bank is based in Florida, a state destined to be the epicenter of climate change-induced effects. They really want to set an example for other banks, especially when it comes to emissions reporting. We also chat about the politicized world of climate change. It's not easy to be a climate advocate in Florida, where the political winds blow against this agenda. To read the transcript of our conversation, please visit tearsheet.co.

Building bridges between fintech and Web3 with Fiserv and ConsenSys

zack.miller@gmail.com (Tearsheet Studios) — Wed, 12 Oct 2022 15:56:52 +0000

The following was produced by Tearsheet Studios. We worked with payments provider Fiserv to create a podcast series about open finance and the work of empowering fintechs, brands, and FIs to collaborate and innovate together. In our sixth conversation in the series, we speak to SVP and head of fintech at Fiserv, Sunil Sachdev, and senior strategic sales manager at ConsenSys, Daniel Lynch. We discuss the potential for fintech to leverage Web3 technology to enhance customer experiences and inspire loyalty.

Power of Payments Ep15: Citizens Pay's Gaurav Sethi on bank-owned BNPL, CFPB and economic challenges

zack.miller@gmail.com (Tearsheet Studios) — Fri, 07 Oct 2022 11:06:59 +0000

Welcome back to the Power of Payments podcast. I’m your host Ismail Umar, and in today’s episode, I’m joined by Gaurav Sethi, chief strategy officer at Citizens Pay. Citizens Pay is a bank-owned BNPL offering from Citizens Bank, one of the oldest financial institutions in the US, which provides retail and commercial banking products and services to individuals, small businesses, and large corporations. In our conversation, Gaurav talks about how being a bank-owned BNPL provider differentiates Citizens Pay from other major players in the space like Klarna and Affirm, how the current macroeconomic climate is impacting Citizens Pay as well as other BNPL firms, and the recent report from the CFPB and what increased regulation would look like for BNPL lenders.

The evolution of use cases for SMB financial data with Codat's Peter Lord

zack.miller@gmail.com (Tearsheet Studios) — Wed, 05 Oct 2022 11:00:38 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s founder and editor-in-chief, Zack Miller. If we were only talking about the benefits of open finance a couple of years ago, we’re already seeing open finance take root today. Firms like Plaid and Codat are showing the power of integrating customer financial data across firms and into apps. New use cases are popping up all the time. Today’s guest is Peter Lord, CEO of Codat. Codat zeroes in on small business financial data. That’s a very different problem to solve than, say, aggregating consumer data. Pete joins me on the podcast to talk about the challenges of wrangling SMB financial data. We also chat about how and where he decides to provide value-added services on top of the data he’s sharing versus just providing the raw data. Pete shares his feedback on the evolution of use cases for SMB financial data he’s seen over the past 5 years of running Codat.

The Green Finance Podcast Ep. 10: How banks can help their customers lower their carbon footprint

zack.miller@gmail.com (Tearsheet Studios) — Fri, 30 Sep 2022 12:40:18 +0000

We've talked a lot on this podcast about the growing consumer awareness around climate change. Considering the scale of the problem, a lot of us feel like we're not doing enough, but also that there's only so much we can do. It's hard to know even where to start as a person, and it gets even harder at company or government level. But we are learning, and one of the biggest lessons that I think will define this decade is how our financial choices impact the planet. We choose to shop at a particular store, we choose to buy from a certain brand and we choose to eat what we eat. Same goes for the financial system – banks and financial institutions choose who to lend to, and they choose which sectors warrant investments. Studies show that when it comes to their bank, consumers do care about alignment with personal values – it was the second-most prized service by bank customers, right after higher interest rates on savings accounts. The majority of people want to know more about the environmental impact of how they spend their money and want their banks to help them take action and reduce their environmental impact. Moreover, consumers also want their banks to decarbonize, considering the financial support they've given over the past decades to the fossil fuel industry, for example. But in order to make the right choices - that is, the choices with the least negative impact on the planet - we need information, we need tools. This means data and technology at scale. I'm talking about this today with my guest Emma Kisby, UK & Europe CEO of Cogo - a company that provides carbon footprint management products that enable individuals and businesses to measure, reduce and offset their impact on the climate. There's lots to cover, so let's dive right in. To read the transcript of our conversation, click here: https://tearsheet.co/the-green-finance-podcast/the-green-finance-podcast-ep-10-tangible-steps-banks-can-take-to-help-their-customers-lower-their-carbon-footprint/

Where Credit's Due Ep. 10: Getting capital without dilution or debt through revenue-based financing

zack.miller@gmail.com (Tearsheet Studios) — Wed, 28 Sep 2022 12:29:42 +0000

It's tough to raise capital these days – VC wallets are tightening as many investors are opting for a wait-and-see approach. This makes it harder to land a deal and get more cash through the door. For entrepreneurs in need of financing for their companies, equity capital is still the most popular approach but harder to come by in an inflationary environment. However, dilution by selling ownership shares in your company for a part of future cash flows is not the only way to get capital. There's also debt, which comes in the form of bond issues or loans, a means of financing operations without dilution, as long as – again — you have the cash flow to pay back the loan. But today we're talking about another way of accessing capital – recurring revenue financing - so if there's cash flow coming in, this recurring revenue is made into a tradable asset that can be sold to investors. It's a dilution-free and debt-free form of financing, which I'm exploring in more detail with Michal Cieplinski, Chief Business Officer of Pipe and Farhan Lalj, Investor at Anthemis.

Behind Amex's use of Kabbage as 'the heartbeat' of its strategy to help SMBs with cash flow

zack.miller@gmail.com (Tearsheet Studios) — Tue, 27 Sep 2022 11:00:22 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s founder and editor-in-chief, Zack Miller. American Express' Kabbage is growing and evolving. As a standalone company, we’ve known Kabbage as a small business lender, and post-acquisition, as part of Amex’s strategy, it’s expanding its lending capabilities into becoming a cash flow home base for the firm’s SMB clients. CMO Brett Sussman joins me on the podcast today to talk about the opportunities and challenges SMBs face, and how Amex and Kabbage are working to support them. We discuss the evolution of Kabbage as a product, and Amex in general as it expands to meet the needs of small businesses. We also talk about Amex’s two-pronged strategy to grow Kabbage. Kabbage’s Brett Sussman is my guest today on the podcast.

Power of Payments Ep. 14: JPMorgan vs Stripe and Block, CFPB is coming for BNPL, and LTO vs BNPL

zack.miller@gmail.com (Tearsheet Studios) — Fri, 23 Sep 2022 11:00:34 +0000

Welcome back to the Power of Payments podcast. I’m your host Ismail Umar, and in today’s episode, we discuss JPMorgan’s acquisition of payments firms Renovite and why it matters, the CFPB’s recent report on BNPL firms, which suggests that regulation is coming for the sector, and why lease-to-own, which is another type of installment payment option, has been gaining popularity in recent months.

'Earned wage access is the next evolution in improving day-to-day liquidity': Argyle's Matthew Gomes

zack.miller@gmail.com (Tearsheet Studios) — Thu, 22 Sep 2022 11:00:34 +0000

The following was produced by Tearsheet Studios. We worked with employment and income data platform Argyle to create a podcast about how alternative lending options such as earned wage access, early pay and paycheck-linked lending can solve some of the challenges for consumers who do not qualify for traditional credit today. More than 50% of Americans live paycheck-to-paycheck and may have thin or no credit history. In today’s podcast, we’re speaking to Matt Gomes, Director of Strategy at Argyle. He breaks down how alternative options like paycheck-linked lending, earned wage access, early pay, and cash advance can offer different solutions.

'Developers have become as central a figure as the banks': Fiserv's Nirajan Ramaswamy

zack.miller@gmail.com (Tearsheet Studios) — Wed, 21 Sep 2022 07:12:23 +0000

The following was produced by Tearsheet Studios. We worked with payments provider Fiserv to create a podcast series about open finance and the work of empowering fintechs, brands, and FIs to collaborate and innovate together. In our fifth conversation in the series, we’re speaking to Niranjan Ramaswamy, vice president and general manager of embedded fintech at Fiserv. As we continue talking about the evolution of open finance, Niranjan shares how Fiserv is helping developers create amazing experiences as they bridge the gap between fintechs and FIs.

The Green Finance Podcast Ep. 9: Unpacking the politicized world of ESG with Earth Equity Advisors

zack.miller@gmail.com (Tearsheet Studios) — Fri, 16 Sep 2022 10:27:31 +0000

I've got a great episode for you today, starring special guest Peter Krull, CEO of Earth Equity Advisors. I always love talking to Peter about all things climate, especially ESG. I feel like he's got a really healthy way of looking at it, because there's a lot of hype in this sector. So don't believe the hype, and always look under the hood. On today's podcast, Peter and I are talking about how to think about ESG, with a sprinkle of politics – we've seen that a number of states have started to ban financial institutions that sought to distance themselves from fossil fuel industries, so the drama in this sector shows no signs of slowing down. All of that and more, in today's show, so let's dive right in.

Where Credit's Due Ep. 9: How B2B BNPL works, with Playter and Codat

zack.miller@gmail.com (Tearsheet Studios) — Wed, 14 Sep 2022 07:00:37 +0000

In today's episode we're talking about buy now, pay later. No, not the consumer version that first comes to mind - we're diving into the B2B version. While B2C BNPL continues to dominate the headlines, its less talked about cousin in the more significant B2B world is just starting to get the spotlight. An increasing number of businesses are transacting online, but the payment rails still disappoint many times. And given the shake up in supply chains, companies could truly benefit from a product that can help them navigate cash flow problems. This is what B2B BNPL aims to do - bringing the latest digital tools to age-old methods of business to business transactions. We're talking about this today with my guests Jamie Beaumont, CEO at Playter, a B2B BNPL fintech based in the UK and Yasamin Karimi, Head of Product at Codat.

How Amex reached card parity in the US with Raymond Joabar

zack.miller@gmail.com (Tearsheet Studios) — Mon, 12 Sep 2022 23:37:10 +0000

When I was a kid, my father had a successful friend who prided himself on carrying an Amex card. But frequently, when we went out to a sporting event or a restaurant, he'd have to fumble around for another card because the establishing didn't accept Amex. That’s changing. Amex has reached parity in the US with other cards. That’s thanks to the work of Raymond Joabar’s team. Raymond is the Group President, Global Merchant and Network Services at American Express and manages direct and indirect channels for expanding the card network’s acceptance. We talk about the channels Amex is using to expand its footprint and the fintech partners helping it get there. We also talk about the work Amex is doing within transportation, B2B, and crypto. It’s an interesting conversation with Raymond – hope you appreciate it.

Power of Payments Ep13: Rapyd's Eric Rosenthal on lessons for US firms from other payments providers

zack.miller@gmail.com (Tearsheet Studios) — Fri, 09 Sep 2022 11:58:53 +0000

Welcome back to the Power of Payments podcast. I’m your host Ismail Umar, and on today’s episode, I’m joined by Eric Rosenthal, vice president of corporate development, strategy and partnerships at Rapyd. Rapyd is a London-based payments firm that markets itself as a fintech-as-a-service platform, which provides APIs to help businesses integrate local payments and fintech capabilities into their applications in a simple way. In our conversation, Eric talks about the meaning of fintech-as-a-service, how Rapyd caters to businesses of different sizes including major firms like Uber, what American companies can learn from payments firms in Latin America, Asia, and Europe, and how startups in the space should try to deal with the current downturn.

'Not all fintech integrations are created equal': Fiserv's Jon Nordhausen

zack.miller@gmail.com (Tearsheet Studios) — Wed, 07 Sep 2022 09:00:05 +0000

The following was produced by Tearsheet Studios. We worked with payments provider Fiserv to create a podcast series about open finance and the work of empowering fintechs, brands, and FIs to collaborate and innovate together. In our fourth conversation in the series, we’re speaking to Jon Nordhausen, VP of product management for the fintech organization within Fiserv. As we continue talking about the evolution of open finance, Jon shares how cloud data integration is removing friction and enabling new capabilities for collaborations between fintechs and FIs.

The Acquire Podcast Ep16: Farmers markets to SoFi and around the globe, Square's brand is united

zack.miller@gmail.com (Tearsheet Studios) — Tue, 06 Sep 2022 08:03:29 +0000

For the season finale of the Acquire Podcast, I’m speaking to the CMO of Square, Lauren Weinberg. We’ll be talking about the thirteen year evolution of Square’s growth, creating a unified brand ecosystem across totally different markets (from farmers markets stands to all of SoFi stadium), on exporting Square’s familiar at-home brand across oceans by going to market in new cultures and geographies like Spain and France, and how the different teams in the company work together to make it all happen.

The Green Finance Podcast Ep. 8: On technology enabling sustainable banking, with Temenos

zack.miller@gmail.com (Tearsheet Studios) — Fri, 02 Sep 2022 10:18:04 +0000

Tearsheet's Power of Payments Conference: https://bit.ly/3R6oENt There's an increasing demand for services that help banks and financial institutions discern between all these new labels that have grown in popularity almost overnight. And the supply side is responding – Temenos, one of the biggest banking infrastructure providers in the world, has launched ESG Investing-as-a-service I've invited Temenos' Chief ESG Officer Kalliopi Chioti to tell us more about their approach. Kalliopi had some really inspiring perspectives on sustainable finance, the rising demand of sustainability investment tools, as ESG moves into the mainstream. We're also chatting about the new sectors to watch as finance becomes more environmentally conscious and more digital - as AI and data have their role to play in green finance too.

Where Credit's Due Ep. 8: How AI is changing lending with Zest AI and Informed.IQ

zack.miller@gmail.com (Tearsheet Studios) — Wed, 31 Aug 2022 10:42:13 +0000

Join us at Tearsheet's Power of Payments Conference, on September 15th at Current, Chelsea Piers, NYC. Apply for tickets here: https://bit.ly/3R6oENt When we talk about lending nowadays, it's no longer just about big banks with large underwriting teams. Advancements in technology are completely changing the lending and loan management practices. It's all about AI these days - a cost-effective way to reduce that long time it usually takes to close a loan, boosting competitiveness and profitability. Automation allows lenders and banks to focus more on the customer experience and less on looking at data from all kinds of standardized forms. Digital lenders have shown that their bet is on technology, rather than balance sheets. Plus, through the use of alternative data, lenders can access a wider customer base, as folks who maybe didn't qualify for a loan under FICO can now be found eligible. We're exploring this topic today with my guests Zest AI CEO Mike de Vere and Informed.IQ CEO Justin Wickett.

Power of Payments Ep. 12: Metaverse payments, sonic branding, and cash vs crypto

zack.miller@gmail.com (Tearsheet Studios) — Fri, 26 Aug 2022 11:00:18 +0000

Welcome back to the Power of Payments podcast. I’m your host Ismail Umar, and in today’s episode, we discuss what financial firms need to know about payments in the metaverse, and why building a sonic brand is becoming increasingly important as consumers become more reliant on contactless payments and voice technology. We also talk about crypto payment adoption patterns among consumers and merchants, and whether crypto could ever replace cash.

'Data is the crux of open finance': Fiserv’s Jamie DelMedico

zack.miller@gmail.com (Tearsheet Studios) — Wed, 24 Aug 2022 07:25:56 +0000

The following was produced by Tearsheet Studios. We worked with payments provider Fiserv to create a podcast series about open finance and the work of empowering fintechs, brands, and FIs to collaborate and innovate together. In our third conversation in the series we’re speaking to Jamie DelMedico, General Manager of Fiserv’s Aggregation and Information Services Unit. As we continue talking about the evolution of open finance, Jamie gives us some insight into the evolution of data processes within the fintech environment.

The Green Finance Podcast Ep. 7: Connecting capital to sustainable projects with Trenton Allen

zack.miller@gmail.com (Tearsheet Studios) — Fri, 19 Aug 2022 12:00:36 +0000

Climate change awareness is growing, and it’s starting to bring more capital along with it. New investment prospects, paired with pressures coming from the public and regulators, are driving up interest in sustainable investing. Today we are chatting with Trenton Allen, CEO of Sustainable Capital Advisors, a DC-based financial advisory firm serving the sustainable infrastructure industry. Trenton is an expert in energy and capital markets, and leads the firm's efforts behind connecting developers and capital providers to support global sustainable infrastructure projects. He has lots of insightful things to share with us, so let’s dive right in.

Where Credit's Due Ep. 7: A digital economy carries the risk of fraud in financial services

zack.miller@gmail.com (Tearsheet Studios) — Wed, 17 Aug 2022 12:00:26 +0000

With consumers continuing to take a digital-first approach to everything from shopping to dating and investing, fraudsters are finding new and innovative ways to commit fraud. Traditionally, when a person would walk into a bank branch to open an account, they would need multiple forms of identification. But online, customer onboarding has turned into a riskier process for banks and consumer fintechs, with fraudsters trying to take advantage of their systems. Reducing the stress of fraud allows for a more streamlined application process, making it easier for consumers to get approved for a loan or bank account. This aspect also has implications for groups of consumers that previously had a hard time accessing credit or other types of financial products and services, as banks can verify the applicant in a way they weren’t able to before. I talk about this today with my guests Kimberly Sutherland, vice president of fraud and identity strategy at LexisNexis Risk Solutions and John Buzzard, Lead Analyst, Fraud & Security at Javelin Strategy & Research.

'As far as next gen cores are concerned, fintechs lead the way': Fiserv's Frank Sanchez

zack.miller@gmail.com (Tearsheet Studios) — Fri, 12 Aug 2022 11:00:36 +0000

The following was produced by Tearsheet Studios. We worked with payments provider Fiserv to create a podcast series about open finance and the work of empowering fintechs, brands, and FIs to collaborate and innovate together. In our second conversation in the series, we’re speaking with Frank Sanchez, vice chairman of Fiserv, and co-founder of Finxact. We talk about the promise and challenges with next generation cores, how fintechs are leveraging them in pushing open finance forward, what sets them apart from legacy banking cores, and what innovations we can anticipate in the near future.

Jiga embeds payments in manufacturing workflows

zack.miller@gmail.com (Tearsheet Studios) — Mon, 08 Aug 2022 07:58:58 +0000

Welcome to the Tearsheet Podcast. I’m your host, Tearsheet’s editor in chief, Zack Miller. There’s a reason B2B payments hasn’t been solved. It’s so complicated – the need for different terms, payment forms, approvals and workflows makes it damn hard to automate and digitize. So to really get at the heart of B2B payments, you have to first start with the quoting and invoicing process – payments come later. That’s just what Jiga is doing for the manufacturing sector. The SaaS company has zeroed in on improving the work that goes into everything that comes before payments in manufacturing – embedded payments is just the next piece. Jiga’s co-founder and CEO Adar Hay joins us on the podcast today to discuss the evolution of his early stage company. From the pandemic-era genesis story, we move on to how the firm’s product supports the different players in the manufacturing value chain through payments. Adar Hay is my guest today on the Tearsheet Podcast.

The Green Finance Podcast Ep. 6: Financial discrimination with BetaBank's Seke Ballard

zack.miller@gmail.com (Tearsheet Studios) — Fri, 05 Aug 2022 12:00:42 +0000

Last week we wrapped our first Banking on the Planet conference, we had a great lineup and it was really a lot of fun. If you missed it, all the session videos are available to watch for free here: https://www.youtube.com/playlist?list=PLHAcPK-SOiNXjjUtN4qmQmfcL1XWApQdK. And now we’re on to our next event, this time finally in person! We are holding Tearsheet's Power of Payments Conference on September 15th, 2022 at Current, Chelsea Piers, NYC We will bring together the top professionals and brands in the payments space to discuss the challenges and opportunities presented by an undeniable need to stay ahead of the curve of a rapidly changing landscape. We have a great lineup here as well, so make sure to check it out by clicking on this link: https://bit.ly/3b1pyLF Moving on to today’s podcast episode, we are talking about financial equity and how today’s system is simply still discriminatory. Sustainable finance means inclusive and non-biased finance, allowing equal opportunities for everyone, which is why I want to explore this topic today. My guest is Seke Ballard the founder and CEO of BetaBank, a digital black-owned bank built to serve SMBs equally, aiming to fill the gap left behind by traditional banks.

The Acquire Podcast Ep. 15: Lili's making taxes sexy one IRS Cocktail at a time

zack.miller@gmail.com (Tearsheet Studios) — Thu, 04 Aug 2022 07:40:09 +0000

This week is episode 15 of the Acquire Podcast, where I’m speaking with a company who managed to make the impossible possible, and by that I mean – make taxes fun and dare we say, sexy. I have with me Matthieu Silberstein, VP of creative marketing at Lili -- a banking provider for freelancers, from side hustlers to small businesses. I invited Matthieu to speak to us about launching the campaign for Lili’s Tax Optimizer, their latest product, that helps freelancers understand and manage the annual tax filing process. Listen to our conversation about the creative and marketing thought process in the before, during, and now after the launch of the campaign and a truly remarkable effort to make taxes fun, and of course – how all of this plays into Lili’s brand at large. Oh, and coming up next month, September 15th, is our first in-person event in a long time, Tearsheet's Power of Payments Conference at Current, Chelsea Piers, NYC. Register here: https://bit.ly/3vhaL6v

Where Credit's Due Ep. 6: Digitizing commercial banking with Q2 and TD Bank

zack.miller@gmail.com (Tearsheet Studios) — Wed, 03 Aug 2022 11:48:52 +0000

Happy to introduce Tearsheet's Power of Payments Conference on September 15th, 2022 at Current, Chelsea Piers, NYC. We will bring together the top professionals and brands in the payments space to discuss the challenges and opportunities presented by an undeniable need to stay ahead of the curve of a rapidly changing landscape. To be among those few special decision makers, click here to apply for tickets: https://bit.ly/3PyR56l Increasing competition is incentivizing banks to digitize and upgrade their commercial and SMB infrastructure, and various companies are coming in with software products to help them bridge this gap. Listen in for a conversation on how banks can effectively compete in the SMB sector currently, and the role of digitization in this whole equation. Joining me today are Paul Margarites, Head of U.S. Commercial Digital Platforms at TD Bank and Kirk Coleman, Chief Banking Officer at Q2.

Power of Payments Ep11: Remitly's Matt Oppenheimer on remittances and the future of money movement

zack.miller@gmail.com (Tearsheet Studios) — Mon, 01 Aug 2022 08:46:41 +0000

For today's episode, I’m speaking with Matt Oppenheimer, co-founder and CEO of Remitly, an online remittance service based in Seattle that offers international money transfers to over 135 countries. He talks about the evolution of the remittance industry over the last decade, the changing needs of Remitly's customers, the potential role of crypto in remittances, and the future of global money movement. Oh, and we’re finally out of Zoom and back into the real world. We’re holding Tearsheet’s Power of Payments Conference on September 15 this year at Current, Chelsea Piers, New York City. Register here: https://bit.ly/3cEIG2G

'Open finance can lift all boats while creating more efficient commerce': Fiserv's Sunil Sachdev

zack.miller@gmail.com (Tearsheet Studios) — Wed, 27 Jul 2022 07:52:59 +0000

The following was produced by Tearsheet Studios. We worked with payments provider Fiserv to create a podcast series about open finance and the work of empowering fintechs, brands, and FIs to collaborate and innovate together. In our first conversation in the series, we’re speaking with Sunil Sachdev, SVP and head of fintech at Fiserv, about where we are on the open finance journey, the technologies under the hood that are helping to enable the evolution, the potential hurdles to look out for, and what’s next.

Acquire Podcast Ep14: Affirm's capturing Millennial humor, the flywheel effect, and marketing BNPL

zack.miller@gmail.com (Tearsheet Studios) — Tue, 26 Jul 2022 09:46:26 +0000

This week on the Acquire Podcast, we’re joined by Erika White, VP of marketing and communications at Affirm. We spoke about building out a cheeky millennial-esque ad campaign, creating the flywheel effect through strong partner marketing, and some of the challenges and opportunities that come with marketing BNPL. Oh, and after two long years of pandemic, isolation, and general social weirdness –- Tearsheet is finally getting out of the screens and coming into the real world. Come September 15th, we’ll be holding our first in-person event in a long time, Tearsheet's Power of Payments Conference at Current, Chelsea Piers, NYC. Spaces are limited, register here: https://bit.ly/3vhaL6v

The Green Finance Podcast Ep. 5: The rise of carbon offsets with Patch CEO Brennan Spellacy

zack.miller@gmail.com (Tearsheet Studios) — Fri, 22 Jul 2022 12:00:32 +0000

Patch is an API-based solution enabling companies to embed carbon footprint estimation and removal directly into their digital products and experiences. Today I’m talking to its CEO Brennan Spellacy to tell us how Patch works, as well as his insights on the whole carbon offsetting market, which has grown tremendously over the past few years, attracting a lot of interest. While it’s not a central solution to the wider problem of climate change, carbon offsetting an important piece of the puzzle, so tune in to find out how it all works.

‘Just because you can build a bank account doesn’t mean you should’: Helix’s Ahon Sarkar

zack.miller@gmail.com (Tearsheet Studios) — Thu, 21 Jul 2022 07:25:46 +0000

The following was produced by Tearsheet Studios in partnership with embedded finance platform Helix by Q2. In our conversation with Ahon Sarkar, GM of Helix, we talk about what it takes for companies to succeed in offering Banking as a Service today. We break down all the important questions they must ask themselves, like: How to make sure your company should even be thinking about doing banking; Five core traits common to all the companies that succeed in Banking as a Service; How to prepare for jumping into the process and be ready for the expected unknowns; What to consider when choosing the right technology and banking partners; And, we wrapped up with a sneak peak of what Helix is busy doing and will be getting into the rest of the year.

Where Credit's Due Ep. 5: Crypto lending with Genesis and BlockFi

zack.miller@gmail.com (Tearsheet Studios) — Wed, 20 Jul 2022 10:25:24 +0000

Today we’re talking about crypto lending – many crypto holders out there don’t plan on spending it or cashing out, and now they can earn pretty high yields on their crypto assets, which baffle many folks in traditional finance. My guests today are Matt Ballensweig, managing director and co-head of trading and lending at Genesis, and Shannon Allmon, General Manager of Retail at BlockFi. Genesis and BlockFi are both some of the biggest centralized lending platforms out there, so tune in to find out how the crypto market evolved into offering retail and institutional investors the possibility to lend with crypto assets as collateral.

Acquire Podcast Ep13: How Stash uses financial education to acquire cradle to grave users

zack.miller@gmail.com (Tearsheet Studios) — Mon, 18 Jul 2022 19:20:07 +0000

Today’s episode is about building financial literacy, both as a solution to a financially stressed America, and as a medium for branding and marketing. A few fintechs do this well, and Stash is one of them. Stash is a personal finance app that aims to make investing accessible to the 99% (of Americans). And to get people investing, they need to first understand the basics of their financial picture. I’ve got the chance to virtually sit down with Stash’s CMO, Dale Sperling, to pick her brain about how, without needing to spend huge budgets, Stash uses creativity, data, and the right partnerships, to develop and strengthen Stash’s brand mission of financial literacy across America – in their campaign Stash101 and beyond.

Power of Payments Ep 10: Digital payments and overspending, Revolut Reader, mobile wallets, and more

zack.miller@gmail.com (Tearsheet Studios) — Fri, 15 Jul 2022 04:12:25 +0000

Welcome back to the Power of Payments podcast. I’m your host Ismail Umar, and in today’s episode, we discuss how digital payments are making it easier for young consumers to overspend, and how the global microchip shortage is affecting the payments industry. We also talk about Revolut’s first venture into in-store payments with the Revolut Reader, as well as recent research from Marqeta that shows a growing level of consumer trust in mobile wallets.

The Green Finance Podcast Ep. 4: How banks can leverage carbon data to enable a net zero future

zack.miller@gmail.com (Tearsheet Studios) — Fri, 08 Jul 2022 11:00:38 +0000

My guest today is Mathias Wikstrom, CEO of Doconomy. Doconomy provides data services that help businesses monitor and assess their environmental footprint based on transactional and financial data. Consumers can find out the footprint of their lifestyle choices, brands can calculate their product’s footprint. And they’re also working to develop a tool that enables banks to aggregate the information provided to their consumers – this is really important because it means helping banks report on their ESG impact, by harnessing the data and insights from their total consumer credit portfolio. Me and Mathias had a really awesome conversation, so tune in for more on climate data, how it helps us understand our impact on the world and how the financial system can facilitate a net zero economy

Where Credit's Due Ep. 4: Banks' journey to digitize commercial lending with OakNorth and Numerated

zack.miller@gmail.com (Tearsheet Studios) — Wed, 06 Jul 2022 11:59:00 +0000

Today we’re talking about how banks are digitizing their commercial lending operations. If consumer lines took the front seat when it comes to innovation and digitization, commercial lines have been waiting quietly in the backseat but are now next to be brought forward with the latest technologies and underwriting efficiencies. My guests today are Dan O’Malley, CEO of Numerated, a SaaS digital loan origination system, and Peter Grant, the President of OakNorth, which aims to transform commercial lending with its Credit Intelligence software product.

'The real magic happens in between the tech silos': Fidelity's Adam Schouela

zack.miller@gmail.com (Tearsheet Studios) — Wed, 06 Jul 2022 04:31:31 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller, Tearsheet’s editor in chief. I find it fascinating to hear how some of the largest FIs handle emerging technologies. Fidelity, for example, has the Fidelity Center for Applied Technology, where it tests and assesses new tech, like the metaverse and blockchain. It’s almost like Fidelity’s skunkworks R&D arm. Today on our program I have Adam Schouela, the head of emerging technology at the center. Our discussion spans different technologies, emerging use cases, and sheds some light on how Fidelity thinks about its priorities and customers out into the future. We talk about the experiments Adam and Co. have done around blockchain technology, around the metaverse, and where it sees opportunities and just as importantly, where it doesn’t see opportunities. Adam Schouela is my guest today on the Tearsheet Podcast.

Power of Payments Ep9: Balance's Bar Geron on why B2B payments are "stuck in the stone age"

zack.miller@gmail.com (Tearsheet Studios) — Thu, 30 Jun 2022 09:27:10 +0000

Welcome to the Power of Payments podcast. I’m your host Ismail Umar, and as you’ve probably noticed by now, we decided to do a rebrand! We think this new title for the podcast is shorter and snappier, and it also matches the name of our upcoming Power of Payments conference, which will be Tearsheet’s first conference on payments, as well as our first-ever in-person event. It’ll be held in New York on September 15. Today, I’m speaking with Bar Geron, co-founder and CEO at Balance. Balance is an Israeli startup that claims to be the first B2B ecommerce payments platform that offers a consumer-like checkout experience for merchants and marketplaces. In our conversation, Bar touched upon a number of topics, including the importance of bringing B2B payments online and how that’s linked with global supply chain issues, BNPL for business, as well as other B2C trends that are slowly being adopted in B2B transactions.

On helping small businesses with their money flow operations with Visa's Darren Parslow

zack.miller@gmail.com (Tearsheet Studios) — Wed, 29 Jun 2022 05:17:33 +0000

Welcome to the Tearsheet Podcast. I'm Zack Miller, Tearsheet's editor in chief. For this episode, I’m joined by Darren Parslow, global head of Visa Business Solutions. Darren and I chat about the innovation in the B2B payments space over the last few years. We discuss how Visa helps SMBs enhance their money flow operations. Lastly, we look to the future and I ask Darren what advice he would give to small businesses looking to digitize operations to better manage cashflow and expand payments beyond the point of sale to grow their businesses. Here's my conversation with Darren.

Acquire Podcast Ep12: How Earnin uses organic community building to grow earned wage access

zack.miller@gmail.com (Tearsheet Studios) — Tue, 28 Jun 2022 08:06:11 +0000

On today’s episode I’ve got the pleasure of speaking to a company I’ve been fangirling over for quite a while (who even fangirls over a company in the financial space? but it’s true). When I first heard of Earnin, a simple Google search led me to their many Facebook groups featuring a huge community of everyday people sharing their financial struggles and supporting one another in ways big and small –- despite being total strangers on the internet. I invited Brittanie Williams, Earnin’s CMO, to talk to us about building a strong and truly community-based brand, building with customers for customers, and flipping the script on what we think when we talk about the millions of people who live paycheck to paycheck.

The Green Finance Podcast Ep. 3: Banks' role in the climate crisis with Chris Skinner

zack.miller@gmail.com (Tearsheet Studios) — Fri, 24 Jun 2022 10:11:36 +0000

Today we’re talking about banks and their role in the climate crisis. Big banks historically supported the global fossil fuel industry through massive amounts of funding, and now they’re being pressured to change. To help me unpack this I’ve called Chris Skinner, a financial technology expert, global commentator, bestselling author of multiple books and the website The Finanser. Chris is out with a new book, called Digital For Good, which explores how financial systems influence the economy, the purpose of banks, and how they impact society and the planet.

Where Credit's Due Ep. 3: The future of lending as a service with Amount and Stilt

zack.miller@gmail.com (Tearsheet Studios) — Wed, 22 Jun 2022 08:28:04 +0000

Banks and fintechs are looking to improve their lending operations - and increasingly, this means focusing on their customer relationship, while leaving the math to external partners. These partners offer lending software-as-a-service, and that's what we'll be talking about this episode. Joining our conversation we have Adam Huges, who’s the CEO of Amount and Rohit Mittal, the chief executive of Stilt.

Takeaways from this year's Money 20/20 Europe

zack.miller@gmail.com (Tearsheet Studios) — Mon, 20 Jun 2022 09:24:23 +0000

Welcome to the Tearsheet Podcast. Tearsheet's Iulia Ciutina and Rebecca Cohen both traveled to Money 20/20 Europe earlier this month. They sat down with editor Zack Miller to discuss what they saw, learned, and experienced.

Power of Payments Ep8: The future of BNPL, Mastercard's 'Smile to Pay', and more

zack.miller@gmail.com (Tearsheet Studios) — Fri, 17 Jun 2022 11:22:09 +0000

Welcome back to Power of Payments. I’m your host Ismail Umar, and in today’s episode, we talk about Klarna and the future of BNPL, PayZen’s ‘Care Now, Pay Later’ solution, and Mastercard’s recently announced ‘Smile to Pay’ system.

Acquire Podcast Ep11: Movement as marketing and transformation with Scott Goodson

zack.miller@gmail.com (Tearsheet Studios) — Tue, 14 Jun 2022 07:53:20 +0000

On today’s episode, I’m speaking with Scott Goodson, founder and CEO of StrawberryFrog, a marketing agency that works with some of the largest financial brands in the industry. I invited Scott to talk to us about his recent book: Activate Brand Purpose: How to Harness the Power of Movements to Transform Your Company. Ultimately, though, our conversation ended up covering much more: doing marketing with soul and intention, the shifting pyramid of power where the boss is no longer God, and the power of truly taking on corporate responsibility.

The Green Finance Podcast Ep. 2: The S in ESG and the role of inclusive product design

zack.miller@gmail.com (Tearsheet Studios) — Thu, 09 Jun 2022 07:14:13 +0000

Green finance is not just about investing in clean energy or carbon sequestration. The core of the problem is sustainability - how to create financial systems that enable people to thrive over the long term. A lot of the focus today goes to the E in ESG investing, which represents the environmental factor, and the latter two parts - Social and Governance - are often overlooked. Today I’d like to explore what the S in ESG stands for. My guest is Timothy Flacke, who is the co-founder and executive director of Commonwealth, a national nonprofit helping the financially vulnerable build security.

Where Credit's Due Ep.2: SMB lending with PayPal and Square

zack.miller@gmail.com (Tearsheet Studios) — Mon, 06 Jun 2022 15:45:53 +0000

Today we’ll be talking about the small and medium sized business sector and how it’s becoming increasingly supported by digital lenders. Securing loans from traditional banks is very tough for SMBs – it’s a long and complicated process and it’s not that likely they’ll get the cash they need – only 15% of small business applications get approved at big banks, for example. This is another reason why digital players like Square and PayPal are able to be some of the largest SMB lenders in the US, giving out billions of dollars in loans to the small business sector in 2021. And THAT is a reason why the two companies are my guests today - I talk to Luke Voiles, general manager at Square Banking, and Bernardo Martinez, vice president of Global Merchant Lending at PayPal - to hear their thoughts on small business lending.

The Acquire Podcast Ep10: How FICO is building financial literacy and refusing to stay behind

zack.miller@gmail.com (Tearsheet Studios) — Tue, 31 May 2022 07:20:51 +0000

Today’s guest is Nikhil Behl – the CMO of FICO. FICO was founded way back in 1956, making it one of the oldest standing firms in the financial industry. Today we’ll talk about how it manages to keep its relevance and purpose in today’s world. Every American knows about FICO scores, and most of us are usually confused, and potentially worried, by our three-digit score. But it wasn't meant this way. The credit scoring system, the lending landscape around it, and the financial systems at large have been changing and will continue to change. And FICO is not planning to stay behind.

The Green Finance Podcast Ep. 1: Banking and sustainability with Aspiration CEO Andrei Cherny

zack.miller@gmail.com (Tearsheet Studios) — Fri, 27 May 2022 08:31:15 +0000

Green finance is all about what the finance industry is doing to address climate change - we know business as usual isn’t sustainable, so we are essentially in the middle of a transition towards reaching net zero. But this is not an easy thing to do, it involves collaborations between many institutions, companies and people - so let’s talk about how to get there. In light of this, my very first guest on this podcast is Aspiration CEO Andrei Cherny. Aspiration is a fintech that wants to help customers use their deposits for sustainable investments and gives them the option to offset their carbon footprint - a fundamentally different strategy from traditional banks.

Tearsheet's Where Credit's Due podcast Ep. 1: Credit for the underbanked

zack.miller@gmail.com (Tearsheet Studios) — Wed, 25 May 2022 08:00:07 +0000

Hi everyone - this is Where Credit’s Due - Tearsheet’s podcast covering the latest trends in lending. I’m your host Iulia Ciutina, senior reporter at Tearsheet, welcoming you to our very first episode. Today we’ll be discussing how fintechs are helping immigrant communities to get access to credit, speaking with the chief executives of Nova Credit and Tomo Credit, Misha Esipov and Kristy Kim. As credit history typically stops at the border, many people who move to the US from abroad have to build consumer credit from scratch. Nova Credit wanted to address this problem and created an alternative score to assess foreign residents’ creditworthiness based on their home country credit data. At Tomo Credit, founder and CEO Kristy Kim created a technical underwriting solution that would allow immigrants and others without a credit history to build a credit score. Unlike other major credit cards, Tomo doesn’t require a credit score and works independently of FICO.

Power of Payments Ep7: Adyen's Brian Dammeir on the shifting payments landscape

zack.miller@gmail.com (Tearsheet Studios) — Fri, 20 May 2022 05:12:33 +0000

Welcome back to Power of Payments. I’m your host Ismail Umar, and in today’s episode, I’m joined by Brian Dammeir, president of North America at Adyen. Adyen is an Amsterdam-based firm that allows businesses to globally accept, process, and settle ecommerce, mobile, and point-of-sale payments. It acts as a payment processor for some of the biggest brands across tech, retail, travel, restaurants, and more, including Spotify, Uber, Facebook, LinkedIn, McDonald’s, eBay, and L’Oréal. Brian has been with Adyen for the past seven years, and prior to that, he held a variety of product roles at Google and Airbnb. Brian and I discuss a number of topics, including his experiences at Adyen, how he’s seeing a shift in consumer culture and expectations across generations, the potential long-term effects of Covid on consumer behavior, and the role that Adyen wants to play in the future of payments.

Acquire Podcast Ep9: Oxygen's new debit loyalty program Elements is winning rebels & change makers

zack.miller@gmail.com (Tearsheet Studios) — Tue, 17 May 2022 08:22:02 +0000

Today’s episode is about Oxygen’s campaign for mobile banking provider Elements. Elements is Oxygen’s multi-tier debit card loyalty program, and its campaign brought about a new face to Oxygen at large. To delve into the thinking and execution behind Elements, I have with me today Oxygen’s SVP, head of business development and strategic partnerships Ryan Conway, and creative director Sani Gad.

Case study: How Intuit’s newest upgrade of Mint helps consumers save on bills and subscriptions

zack.miller@gmail.com (Tearsheet Studios) — Mon, 16 May 2022 09:03:24 +0000

In our latest case study, we spoke with Intuit Mint and ApexEdge about their enabling better money decisions, and financial wellness. Listen to our conversation with Steven McKean, co-founder and CEO at ApexEdge, and Varun Krisha, SVP and head of consumer finance at Intuit Mint about building and launching a partnership that takes PFM further.

Banking Podcast Ep. 18: Will financial super-apps-in-the-making revert to what they’re good at?

zack.miller@gmail.com (Tearsheet Studios) — Sun, 15 May 2022 05:54:29 +0000

Welcome to episode 18 of Tearsheet’s Banking Podcast). Zack Miller, Tearsheet’s editor in chief, and Josh Liggett, investment team principal at OurCrowd, are your hosts. In this episode, we’ll discuss: How a bad market might impact fintechs: Stock prices are down massively, for both newly minted public fintechs and for those operating in the market for years. Zack posits that the rebundling trend – that had monoline operators expand into adjacent markets and products – would end and companies would return to their roots. Revenue potential for banks moving into BaaS: BaaS platforms are increasingly working with multiple banking partners. Fintechs continue to look for licensed banks as partners to launch banking products and services. A recent report looks at the business model and revenue potential for banks to move into fintech partnerships. Josh is suspect that the market can support a sizable number of new partner banks. Regulation is coming for BNPL: As consumer debt grows, the various agencies active in consumer finance are interested in providing new rules and regulations for BNPL companies. Josh feels this is necessary light shone on shadow debt markets that aren’t connected to the traditional credit reporting system. Crypto-backed mortgages are here and more options are on the way: Crypto mortgages can be useful for those who are crypto-rich and cash-poor and have a lot of their wealth invested in cryptocurrency. These types of loans are still very new and Bitcoin's fluctuating value makes crypto mortgages a risky option for homebuyers. Zack can’t see himself leveraging up to buy land in the metaverse. Josh thinks mortgages tied to volatile currencies is just a bad idea.

The challenges and opportunities for stablecoins in traditional finance with Paxos’ Mike Coscetta

zack.miller@gmail.com (Tearsheet Studios) — Wed, 11 May 2022 05:00:13 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. As the industry looks at what’s happening in crypto, there’s emerged an idea that the way the financial industry bridges the old world with the new one is via stablecoins – crypto tied to the US dollar, for example. Is that true? To explore this idea i sat with Mike Coscetta, head of revenue at Paxos. As an infrastructure player, his firm works with many of the top brands with crypto offerings, like PayPal, for example. I wanted to know more about stablecoins and some of the trends at play. The following is my conversation with head of revenue at Paxos, Mike Coscetta.

Acquire Podcast Ep8: Billboards, donuts, and QR codes: Flexbase is building awareness

zack.miller@gmail.com (Tearsheet Studios) — Tue, 10 May 2022 06:25:31 +0000

In today's episode, I'm joined by Flexbase’s Zaid Rahman, founder and CEO, and Joey Randazzo, head of growth. Flexbase is a payments platform for construction companies. We’ll be diving into their standout approach to brand awareness – from blanketing one city at a time, putting up billboards off highways, and shipping mysterious donut boxes to roll out the Flexbase card, a credit card that meets the unique needs of the construction industry.

Power of Payments Ep6: Quontic's payment ring, Visa and NFTs, and the new Square Stand

zack.miller@gmail.com (Tearsheet Studios) — Thu, 05 May 2022 05:04:44 +0000

Welcome back to Power of Payments. I’m your host Ismail Umar, and in today’s episode, we discuss why Quontic Bank decided to launch a contactless payment ring, what Visa’s Creator Program tells us about its interest in NFTs, and what Block offers merchants with its upgraded Square Stand point of sale system.

Identity proofing in the Metaverse and Web3: David Milligan

zack.miller@gmail.com (Tearsheet Studios) — Thu, 28 Apr 2022 07:18:59 +0000

The following was produced by Tearsheet Studios. We worked with consulting firm Ulysses Partners to create a four-part series on identity proofing and the importance of user experience in its emerging landscape. The series is based on our co-created guide, The Identity Proofing Guide: A practical hands-on review of user experience in leading solutions (https://bit.ly/3EUU3NR). In this fourth and final session we’re joined by David Milligan, managing partner at Ulysses Partners. We’ll be talking about why we need identity proofing the Metaverse and Web3 and the future of identity and doing business online. Read it on our site: https://bit.ly/3xXmwBe

Acquire Podcast Ep7: ‘Founders not meeting with customers are doing it wrong': Conduit's CEO

zack.miller@gmail.com (Tearsheet Studios) — Tue, 26 Apr 2022 09:30:27 +0000

In today's episode, I'm speaking with Kirill Gertman, co-founder and CEO of Conduit -- a B2B fintech providing infrastructure for DeFi payments -- about building one API for DeFi, going to market in unlikely geographies, crafting a reliable, trustworthy brand that stands out in the sci-fi aesthetic of the crypto world, and much more.

Power of Payments Ep5: Extend's CEO on virtual cards and spend management

zack.miller@gmail.com (Tearsheet Studios) — Thu, 21 Apr 2022 04:45:45 +0000

Welcome back to Power of Payments. I’m your host Ismail Umar, and in today’s episode, I’m joined by Andrew Jamison, co-founder and CEO of Extend. Extend provides digital payment infrastructure for financial firms and allows them to modernize their payment experiences through the use of virtual cards. The firm’s offerings include virtual card APIs, a digital corporate card app, and a card tokenization service. Extend has partnered and integrated with major card networks including Mastercard, Visa, and Amex, as well as banks like Silicon Valley Bank and City National Bank. Andrew is here to talk to me about why he founded Extend, what need it serves in the industry, and where he sees virtual cards and corporate payments headed in the coming years.

‘We don't care about being the first, we care about being the best’: Helix’s Ahon Sarkar

zack.miller@gmail.com (Tearsheet Studios) — Wed, 20 Apr 2022 04:26:00 +0000

Q2’s rebranded its platform business earlier this year as part of revisioning embedded finance. Helix’s GM Ahon Sarkar joins us on the Tearsheet Podcast to discuss what he’s learned servicing big brand clients and millions of users. We talk about the deep rooted aspiration to ‘make finance human', the changing face of the fintech space and specifically Banking as a Service over time , what’s next for embedded finance: deeper focus, simplification, and better automation, and much more.

The digital ID verification landscape and why biometrics are crucial: David Milligan & Graham Seel

zack.miller@gmail.com (Tearsheet Studios) — Thu, 14 Apr 2022 07:19:55 +0000

The following was produced by Tearsheet Studios. We worked with consulting firm Ulysses Partners to create a four-part series on identity proofing and the importance of user experience in its emerging landscape. The series is based on our co-created guide, The Identity Proofing Guide: A practical hands-on review of user experience in leading solutions (https://bit.ly/3EUU3NR). In this session we’re joined by David Milligan, managing partner at Ulysses Partners, and Graham Seel, strategic advisor to community banks and credit unions. We’ll be talking about the current biometrics and verification landscape, the concept of data sharing consortia, and how different geographies around the world, from the US to India, are tackling the need to prove and verify identities. Read it on our site: https://bit.ly/38rh1jo

Acquire Podcast Ep6: Ice cream, puppies, and financial ease with Intuit Mint’s brand campaign

zack.miller@gmail.com (Tearsheet Studios) — Tue, 12 Apr 2022 08:40:41 +0000

Welcome to Acquire, Tearsheet’s Marketing Podcast. I’m your host, Rebecca Cohen, Head of Tearsheet Studios. On today's episode, I'll be speaking with Jack Rubin, VP of Marketing, Partnerships & Advertising Operations at Intuit Mint, who most recently spearheaded their latest major brand campaign, It's Time to Mint.

Power of Payments Ep4: Americans can't pay their bills on time & Stax becomes a unicorn

zack.miller@gmail.com (Tearsheet Studios) — Thu, 07 Apr 2022 07:01:25 +0000

Welcome back to Power of Payments. I’m your host Ismail Umar, and in today’s episode, we discuss why so many Americans are struggling to pay their bills on time, and we also talk about Florida-based payments startup Stax, which recently became a unicorn and wants to go head-to-head with Stripe.

Acquire Podcast Ep5: BNY Mellon’s flipping the script on the ultra rich

zack.miller@gmail.com (Tearsheet Studios) — Tue, 05 Apr 2022 09:41:13 +0000

On today's episode, I'm speaking with Kirti Naik, Head of Marketing and Communications at BNY Mellon Wealth Management. BNY Mellon is one of the oldest FIs in the world, which makes Kirti’s job leading their brand a serious undertaking, requiring a lot of creative thinking, doing, and vision to pivot the direction of 230 years of legacy. She’s here to talk to me today about BNY Mellon’s recent campaign, Do Well Better.

The Banking Podcast Ep17: The story of Dave going public and BNPL as the new challenger bank

zack.miller@gmail.com (Tearsheet Studios) — Mon, 04 Apr 2022 08:05:50 +0000

Welcome to episode 17 of Tearsheet's Banking Podcast (fka The Challengers Podcast). I'm your co-host, Zack Miller, Tearsheet's Editor in Chief. Joining me is Josh Liggett, investment team principal at OurCrowd. In this episode, we'll discuss: *Dave: The challenger bank significantly revised its revenue projections now that it's public. We'll explore unit economics, the pressures on fintechs once they go public and how some models are inherently hard to monetize *BNPL as the new neobank: BNPL appears to be a foothold for firms like Klarna and Affirm to move into managing more and more of their users' payments *Uptake of DeFi in TradFi: Josh shares some recent experiences at a conference to show that even the early adopters in the industry aren't quite there yet when it comes to using what they're building. *Apple's buy of Credit Kudos: Josh and Zack discuss what may be Apple's end game with a new acquisition of a European open banking player<

How FIs measure success in ID proofing and why we need biometrics: David Milligan & Ashim Banerjee

zack.miller@gmail.com (Tearsheet Studios) — Thu, 31 Mar 2022 08:12:46 +0000

The following was produced by Tearsheet Studios. We worked with consulting firm Ulysses Partners to create a four-part series on identity proofing and the importance of user experience in its emerging landscape. The series is based on our co-created guide, The Identity Proofing Guide: A practical hands-on review of user experience in leading solutions (https://bit.ly/3EUU3NR). https://tearsheet.co/sponsored/the-identity-proofing-guide-a-practical-hands-on-review-of-user-experience-in-leading-solutions/ In this session we’re joined by David Milligan, managing partner at Ulysses Partners, and Ashim Banerjee, founder and CEO of IDMission. We’ll be talking about the role of identity proofing in financial services at this moment, how an FI can measure success when it comes to identity proofing, and where identity verification fits in the payments space. Read it on our site: https://bit.ly/39ec1iB

Behind the scenes of Affirm's proprietary risk stack with Karthik Ramkumar

zack.miller@gmail.com (Tearsheet Studios) — Wed, 30 Mar 2022 07:00:13 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. We’ve been talking a lot about Buy Now, Pay Later and its role in payments, lending, and banking. Today we’re going behind the scenes in BNPL to see how the sausage is made. I’m joined by Affirm’s head of risk, Karthik Ramkumar. He leads a team of dozens of people as he manages all aspects of financial risk, including consumer credit, consumer fraud, merchant credit and merchant fraud. Our discussion is pretty far reaching – from talking about the evolution of the underwriting model, to sought after skillsets to address fraud to mental health in the workplace. If you’re interested in what goes into building a world-class risk operation at one of the top firms in the space, you’re going to want to spend the next 25 minutes with us. Karthik Ramkumar is my guest today on the Tearsheet Podcast.

Acquire Podcast Ep4: Niching down with TreviPay’s community playbook

zack.miller@gmail.com (Tearsheet Studios) — Tue, 29 Mar 2022 08:21:20 +0000

On today’s episode I’m speaking with Michelle Faul, VP of Global Marketing at TreviPay. TreviPay is a global fintech that offers embedded payments in the digital B2B commerce space. Fun fact: TreviPay won Best New Product – for its B2B mobile payments app – at our Embedded Awards last November at the Big Bank Theory Conference. Check out Tearsheet.co to see all the awards we’ll be giving out for brands, campaigns, and products in 2022. Today, Michelle’s here to give our listeners a little behind the scenes about TreviPay’s community playbook.

Power of Payments Ep3: Veem's Marwan Forzley on the role of blockchain in B2B payments

zack.miller@gmail.com (Tearsheet Studios) — Thu, 24 Mar 2022 11:32:19 +0000

Welcome back to Power of Payments. I’m your host Ismail Umar, and for today’s episode, I’m joined by Marwan Forzley, co-founder and CEO of Veem. Veem is a San Francisco-based global payments platform built for businesses. It aims to simplify international money transfers and improve the way companies pay and get paid around the world. The company uses blockchain as a payment rail to eliminate the need for intermediary banks and reduce payment costs for SMBs. Marwan is an advocate of using blockchain technology to make cross-border payments for businesses – and that’s what he’s here to discuss with me today.

How JPMorgan Chase's recent C-suite changes are enabling more, new, and quicker product launches

zack.miller@gmail.com (Tearsheet Studios) — Thu, 24 Mar 2022 08:29:39 +0000

Welcome to the Tearsheet Podcast. I'm Tearsheet editor in chief, Zack Miller. When startups come on the podcast, we talk a lot about the need and the challenge to deliver digital financial services at scale. There’s probably no better example of that in the US market today than JPMorgan Chase. The firm has 60 million clients that access Chase products and services through digital channels. When it comes to scale, you don’t need to look solely to big tech – Chase is already there. On this episode, I’m joined by Rohan Amin, Chase’s chief product officer, and Gill Haus, Chase’s chief information officer. You’ll get a feel for the rapport between the two executives as we explore their roles and responsibilities in leading the firm forward into the future. Rohan and Gill discuss the evolving dependence consumers are building around their banking apps and the role banks play in their lives. Organizationally, Chase has adopted agile methodologies and teams. The duo discuss how product, engineering, design, and data and analytics get seats around the table. We also talk about their firm’s hiring activities and its appetite around technology talent right now. Chase’s Gill Haus and Rohan Amin are my guests today on the Tearsheet Podcast.

Acquire Podcast Ep3: Give a little, get a lot – Ocrolus’ try and buy campaign

zack.miller@gmail.com (Tearsheet Studios) — Tue, 22 Mar 2022 05:10:17 +0000

On today’s episode of the Acquire Podcast I’m speaking with John Forrester, SVP of Product at Ocrolus. Ocrolus is a document automation platform that powers the digital lending ecosystem. John is here to talk to me about Ocrolus’ “try and buy” offering launched last year, allowing any size lender – and non-lenders – to upload their financial documents for free.

Why user experience matters in identity proofing: David Milligan and Ruby Walia

zack.miller@gmail.com (Tearsheet Studios) — Thu, 17 Mar 2022 08:13:13 +0000

The following was produced by Tearsheet Studios. We worked with consulting firm Ulysses Partners to create a four-part series on identity proofing and the importance of user experience in its emerging landscape. The series is based on our co-created guide, The Identity Proofing Guide: A practical hands-on review of user experience in leading solutions (https://bit.ly/3EUU3NR). In this session we’re joined by David Milligan, managing partner at Ulysses Partners, and Ruby Walia, advisor to fintechs and startups. We’ll be talking about identity proofing and why it matters, why we need to think about UX when it comes to identity proofing, and how financial providers can bring this technology to market. Read it on our site: https://bit.ly/3vPckIb

'We're putting the power in the hands of the banker': Jack Henry's CEO David Foss

zack.miller@gmail.com (Tearsheet Studios) — Wed, 16 Mar 2022 09:55:22 +0000

As we continue to press on the technology throttle, core software providers like Jack Henry are changing, too. The firm recently announced a new technology strategy that would unbundle its software – essentially taking its core-system parts and making them discrete services that can be customized and rebundled alongside other fintech offerings. In our talk with CEO David Foss, he compared core software to a car chassis. Banks and other FIs have been used to buying the whole car – now, Jack Henry wants to provide its clients with options to pick and choose the components they want in their technology stack.

Acquire Podcast Ep2: Buying coffee with Ether -- Marqeta’s bringing crypto to point of sale

zack.miller@gmail.com (Tearsheet Studios) — Tue, 15 Mar 2022 09:35:42 +0000

On today’s episode I’m speaking with Jeff Otto, VP of Marketing at Marqeta. Marqeta is a card issuance and payments solution provider, and without a doubt a major player in the space. Jeff is here to talk to me about their new campaign that launched at the end of last year, bringing crypto to point of sale.

Power of Payments Ep2: Tap to mobile, crypto cards, and PayPal's fraudulent accounts

zack.miller@gmail.com (Tearsheet Studios) — Thu, 10 Mar 2022 08:51:46 +0000

Welcome back to another episode of Power of Payments. I’m your host Ismail Umar, and this week, we talk about PayPal, tap to mobile payments, and crypto-backed cards. If you’d like to access more of our coverage on payments, subscribe to our Payments Newsletter. This episode of Tearsheet’s Payments Podcast is sponsored by Quavo. With their flagship offering, QFD, Quavo has created a chargeback management solution for issuers of all sizes.

'I don’t mention blockchain by design': Shaul Kfir, Digital Asset

zack.miller@gmail.com (Tearsheet Studios) — Wed, 09 Mar 2022 07:06:24 +0000

We’ve got Digital Asset’s Shaul Kfir on the show today. Digital Asset helps power what it calls the Global Economic Network, an ecosystem of interconnected global networks across which information and value are transacted seamlessly. If the internet is the network of networks, that’s what Digital Asset is creating around financial services firms. Think of a global settlement network that includes multiple financial firms and can connect in blockchain just as well as it can an Oracle database. Shaul talks about the firm’s new rollout of its software Daml 2.0 and how its evolved over time. We also discuss the partnership Digital Asset cut with SETL on the blockchain protocol which will underpin the Regulated Liability Network. If you’re looking for a view into where the world is headed with blockchain and the incumbent financial industry, you’re going to want to pay attention.

Acquire Podcast Ep1: Connecting the dots on Envestnet’s rebrand

zack.miller@gmail.com (Tearsheet Studios) — Tue, 08 Mar 2022 10:29:09 +0000

Welcome to Acquire, Tearsheet’s Marketing Podcast. I’m your host, Rebecca Alma Cohen, Head of Tearsheet Studios. And this is our very first episode. The Acquire Podcast is all about exploring marketing campaigns for new brands, products and services in the financial industry. I’ll be talking to marketing and creative leaders across the space to give our listeners a behind the scenes look into the secret sauce (well, as secretive as we can get with marketing folks) that goes into launching the campaigns, from strategy to execution. On today’s episode, I spoke to Mary Ellen Dugan, chief marketing officer at Envestnet. Envestnet provides technology solutions and intelligence that help financial advisors help their clients manage their financial lives and build financial wellness. She’s here to talk about Envestnet's recent major campaign, and company rebrand at large, “Fully Vested”.

‘SMBs want to be focused on leaving a legacy – not managing their money’: BlueVine’s Steve Allocca

zack.miller@gmail.com (Tearsheet Studios) — Thu, 03 Mar 2022 10:25:18 +0000

The following was produced by Tearsheet Studios. We worked with small business lender BlueVine to produce a four part series on creating financial solutions serving historically underserved small businesses. In this episode, Tearsheet editor in chief Zack Miller spoke with Steve Allocca, COO of BlueVine, about the challenges and opportunities of building and scaling a customer-centric small business.

'Since our founding, there’s been this passion around stock ownership': Schwab's Zack Gipson

zack.miller@gmail.com (Tearsheet Studios) — Wed, 02 Mar 2022 05:57:38 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Today’s guest is Zack Gipson, who runs Charles Schwab’s digital investor solutions. We talked in depth about Schwab’s Stock Slices, the firm’s fractional share product. Together with a new investor starter kit, the incumbent is reaching a new investor base, younger and earlier in their journeys. Zack shares how the product is being received and where the firm is headed in the future. Zack Gipson is my guest today on the Tearsheet Podcast.

Power of Payments Ep1: BNPL and credit scores, crypto payroll, Apple's Tap to Pay, & more

zack.miller@gmail.com (Tearsheet Studios) — Thu, 24 Feb 2022 10:59:45 +0000

Welcome to the first episode of Power of Payments, Tearsheet’s new bi-weekly podcast. Host Ismail Umar takes you through the recent developments in the world of payments and their wider implications for the industry. In the inaugural episode, we talk about the changing relationship between BNPL and credit scores, cryptocurrency payroll, Apple’s new Tap to Pay feature, and ‘Save Now, Pay Later’ -- a new alternative to BNPL. This episode of Tearsheet’s Payments Podcast is sponsored by Quavo. With their flagship offering, QFD, Quavo has created a chargeback management solution for issuers of all sizes.

'We're trying to keep up with, candidly, a very diverse set of use cases': Anchorage's Diogo Mónica

zack.miller@gmail.com (Tearsheet Studios) — Thu, 10 Feb 2022 12:17:24 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. We’re at an inflection point right now when it comes to blockchain technology. There are a handful of technology partners that, instead of bypassing the traditional financial industry, are working together with it. Anchorage is one of those firms. As the sole digital asset firm with a national banking license, it works with FIs to provide crypto custody, trading, staking, governance and more. At the end of 2021, it raised a $350 million round, valuing the firm at $3.5 billion. It’s just getting started, as banking slowly opens up to what appears to be the future for the industry, clients, and the world, frankly. Anchorage co-founder and president Diogo Mónica joins me on the podcast to review where we are at this moment in time regarding Web3 and its connection to the incumbent financial industry. Diogo shares some milestones that Anchorage and the industry have hit and then looks toward the future for a snapshot of what it may look like for his institution, for banking in general, and for all kinds of customers. Diogo Mónica is my guest today on the Tearsheet Podcast.

'We never stopped originating during the pandemic': Fundbox's Prashant Fuloria

zack.miller@gmail.com (Tearsheet Studios) — Thu, 03 Feb 2022 06:37:00 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Many of the firms we cover are moving towards becoming a one-stop-shop for their customers. Looking to deeply service their constituency, they’re converging on becoming banks – whether or not they actually have a license. At least, they look and smell like banks. Fundbox, a provider of financial services to small businesses, isn’t necessarily going that route. It’s staying particularly focused on serving its clients’ cash flow needs with working capital – so it goes beyond what a traditional lender might do. But it’s not taking the plunge fully into banking. The firm’s CEO Prashant Fuloria joins me on the podcast to talk about how SMBs are coping with the pandemic’s challenges and how Fundbox has evolved to serve them. We also catch up on where the firm is in its own growth cycle. Fundbox has grown – it surpassed a $100 million run rate last year and raised $100 million in a Series D round, valuing the company over a billion dollars. Lastly, we look out into the future to see what Fundbox is cooking up. Here’s my conversation with Fundbox CEO, Prashant Fuloria.

‘If you build a community, you won't become a commodity’: Boast AI’s Lloyed Lobo

zack.miller@gmail.com (Tearsheet Studios) — Mon, 31 Jan 2022 10:04:33 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. I like to say that it takes a village to raise a fintech firm. You can really see the power of the ecosystem when it comes to successful companies in our space like Square and Plaid. Lloyed Lobo has seen first hand the power of having an audience. Launched in a spare bedroom with pizza nights, the community he co-founded, Traction, now numbers 100,000 people building companies. Lloyed’s company, Boast AI, has seen the fruits of this community. It helps companies apply for R&D tax credits. With a newly formed fund of $100 million, it also helps tech firms finance their credits. We talk about the power of community and how it can help find early fans and customers for a novel concept. Lloyed shares his experience building Boast and how smaller firms are now able to tap these credits that previously were accessible by some of the largest tech companies. Boast uses a hybrid tech and human delivery model – Lloyed talks about that, too. Lloyed Lobo is my guest today on the Tearsheet Podcast.

The Challengers 16: SoFi gets a charter, N26 rethinks product-led growth, Starling goes platform

zack.miller@gmail.com (Tearsheet Studios) — Fri, 28 Jan 2022 08:46:15 +0000

In this episode of The Challengers, Josh Liggett and Zack Miller explore Sofi's move to get a bank charter and what it may mean for the company, as well as for its platform business, Galileo. Josh and Zack talk about N26's recent admission that in a push to globalize, it missed the move to crypto. . Lastly, your hosts discuss the UK's Starling Bank and its move to become a platform. Josh and Zack discuss how good unit economics enable challenger banks -- particularly ones focused on B2C -- to turn into software plays, supporting banking products and services for other fintechs.

Truist Ventures wants to bring 'surprise and delight' to financial services through its investments

zack.miller@gmail.com (Tearsheet Studios) — Mon, 24 Jan 2022 13:43:53 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Some of the largest banks in the US have active venture investing arms. They may differ in how they’re structured but for firms like Truist, their fintech portfolios are about getting a seat at the table with innovative firms. Partnerships are important, as well as insights into their portfolio companies’ product development cycles. And of course, these funds are looking for eventual ROI on their venture investments. Truist Venture’s Venessa Vreeland and Christina Russ join me on the podcast to talk about the composition of their fintech investment portfolio as well as trends that underlie some of their investment theses. Lastly, we look outward, as my guests discuss opportunities they see to invest in today’s market. Vanessa Vreeland and Christina Russ are my guests today on the Tearsheet Podcast.

'The conversation in bank boardrooms now is can we digitize fast enough?': Numerated's Dan O'Malley

zack.miller@gmail.com (Tearsheet Studios) — Thu, 20 Jan 2022 10:27:47 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. If you want to understand just how imperative it is for banks – particularly community banks – to move to digital, you’re going to want to listen to Dan O’Malley. Dan’s a co-founder and CEO of Numerated, a firm that digitizes the loan experience. He’s working with over 100 FIs who he believes are finally getting the gospel on the need to digitize. For smaller banks that have differentiated on service, the next step is to automate with technology. And if they can’t or don’t do it fast enough, Dan actually believes it’s an existential issue for thousands of financial institutions in the U.S. Dan O’Malley is my guest today on the Tearsheet Podcast.

‘Fintechs understand who their customer is, and build for them’: BlueVine’s Herman Man

zack.miller@gmail.com (Tearsheet Studios) — Wed, 19 Jan 2022 10:49:59 +0000

The following was produced by Tearsheet Studios. We worked with small business lender BlueVine to produce a four part series on creating financial solutions serving historically underserved small businesses. In this episode, Tearsheet editor in chief Zack Miller spoke with Herman Man, CPO of BlueVine, about the importance of customer-product fit, and what’s next for digital-first banking solutions and the fintech ecosystem.

'It's more fun battling over 150 basis points than than 10 basis points': Tern's Brion Bonkowski

zack.miller@gmail.com (Tearsheet Studios) — Wed, 12 Jan 2022 06:52:44 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. 2022 is here and I’m beginning to meet and talk to a growing number of embedded finance platforms that may be new brands but have deeper, longer roots in the space. Tern is one of those companies. Brion Bonkowski is the founder and CEO of Tern. Tern’s a low code/no code embedded finance platform that provides onboarding, issuing, and payouts solutions. Tern was created to acquire another firm – US Unlocked – which issues virtual cards for people living overseas to buy stuff in the U.S. Tern works with firms like PTOGenius to embed payments and money movement either as an API or used as a white label solution. Brion discusses the growing no-code/low code trend and where he’s seeing growth in that space. We talk about how Tern competes and differentiates itself in a growing field and what Brion and Co have in store for 2022. Brion Bonkowski is my guest today on the Tearsheet Podcast.

Behind Green Dot's embedded finance business with Amit Parikh

zack.miller@gmail.com (Tearsheet Studios) — Wed, 05 Jan 2022 08:51:54 +0000

Welcome to the Tearsheet Podcast. I’m your host, Tearsheet’s editor in chief, Zack Miller. This following is part of a new series we’re running. It’s called the Big Bank Theory, and it’s all about the future of banking. We see three options going forward: in the march towards digital, people will gravitate towards the digital arms of incumbent banks, give their business to new upstart challenger banks, or the biggest opportunity, which is to bank with the brands they love. Through embedded finance, people are increasingly turning to companies they frequent often -- whether it's a big retail player like Walmart or SMB accounting software like QuickBooks -- to plan, store, and move money around. The following series includes content from Tearsheet’s Big Bank Theory Conference, held in November 2021. Green Dot’s an interesting player in the Embedded Finance market. It already powers financial service for firms like Apple, Uber, and Walmart. Combine that with an extensive prepaid business, a direct bank, and its own banking license and you can begin to see where the business is headed. Green Dot already banks tens of millions of customers and you can get a sense of the scale – it almost feels like it’s just getting started. I spoke with Green Dot’s Amit Parikh who heads up the firm’s platform business. He has an extensive payments background, most recently at Apple. We chatted about Green Dot’s platform strategy and the role it plays in brands’ financial ecosystems. Amit shared some of what he saw are the drivers of innovation in embedded financial services and where the opportunities exist for further growth. Here’s my interview with Green Dot’s Amit Parikh.

‘We're taking everything Gusto built and making it available as a platform’: Gusto’s Tomer London

zack.miller@gmail.com (Tearsheet Studios) — Tue, 28 Dec 2021 07:11:41 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. 2021 was a year for payroll data. Payroll data continues to open up new possibilities and use cases, tapping into sources of income. While data matters, we’re also seeing payroll providers themselves move into fintech. Gusto services 200,000 businesses and teans with modern payroll, benefits, and HR. Gusto has also moved decidedly into fintech, launching Gusto Wallet. Employees on the Gusto platform get early access to their paychecks, banking, savings, and emergency funds through their payroll provider. Co-founder and CPO Tomer London joins us on the podcast to discuss the increasing importance of modern payroll and the opportunities it opens up for fintech services and products. Gusto’s Tomer London is my guest today on the Tearsheet Podcast.

'With income data, you can start to creatively rethink the paradigm of credit': Pinwheel's Kurt Lin

zack.miller@gmail.com (Tearsheet Studios) — Wed, 22 Dec 2021 06:23:47 +0000

Welcome to the Tearsheet Podcast. I'm Tearsheet's editor in chief, Zack Miller. If data is the underpinning of modern finance, payroll data is expanding the pie. Early data firms like Plaid, MX, and Finicity made it easier for lenders and other fintech apps to access banking data. But now, firms like Pinwheel and Argyle are opening up payroll data. Traditional W2 work is evolving in the gig economy and being able to access payroll data wherever it resides creates new opportunities to serve customers. On today’s podcast, we have Kurt Lin, co-founder and CEO of Pinwheel. Lin’s vision is that over time, lenders will use the firm’s payroll API to track their borrowers’ financial health longitudinally. Fintech firms can assess borrowers’ current income, whether they’re showing up for shifts, whether they’re getting paid consistently. We’re at the beginning stage of payroll connectivity and Lin shares some interesting insights into current use cases, based off of income verification, direct deposit switching and payroll-linked lending. Lastly, we talk about where Pinwheel and payroll connectivity are headed in the future. Kurt Lin is my guest today on the Tearsheet Podcast.

How Intuit builds embedded finance around customer benefits

zack.miller@gmail.com (Tearsheet Studios) — Thu, 16 Dec 2021 07:58:40 +0000

Welcome to the Tearsheet Podcast. I’m your host, Tearsheet’s editor in chief, Zack Miller. This following is part of a new series we’re running. It’s called the Big Bank Theory, and it’s all about the future of banking. We see three options going forward: in the march towards digital, people will gravitate towards the digital arms of incumbent banks, give their business to new upstart challenger banks, or the biggest opportunity, which is to bank with the brands they love. Through embedded finance, people are increasingly turning to companies they frequent often -- whether it's a big retail player like Walmart or SMB accounting software like QuickBooks -- to plan, store, and move money around. The following series includes content from Tearsheet’s Big Bank Theory Conference, held in November 2021. When I give examples of embedded finance, I typically mention Intuit. What the software company has done -- marrying the tracking and forecasting of money together with the actual movement of money, banking, lending -- points to the power of embedded finance. And it’s still early innings for the power of putting banking, payments, and lending where users need it most. For Intuit, the SMB customer is the core focus. I chatted with Rania Succar, svp of the QuickBooks money offerings, about how Intuit builds embedded finance around her customers’ benefits. We dive into why that’s so important, with concrete examples of how Intuit determines what to offer and how it prioritizes its pipeline. We also talk about the opportunities to go deeper and broader in serving the SMB with embedded finance. Here’s my conversation with Rania Succar.

How Goldman Sachs leverages partnerships to bring innovative products to consumers and SMBs

zack.miller@gmail.com (Tearsheet Studios) — Wed, 08 Dec 2021 09:10:59 +0000

This following is part of a new series we’re running. It’s called the Big Bank Theory, and it’s all about the future of banking. We see three options going forward: in the march towards digital, people will gravitate towards the digital arms of incumbent banks, give their business to new upstart challenger banks, or the biggest opportunity, which is to bank with the brands they love. The following series includes content from Tearsheet’s Big Bank Theory Conference, held in November 2021. Welcome to the Tearsheet Podcast. I’m Zack Miller. Abhinav Anand was chugging along in senior risk roles at Discover when he received a call 5 years ago. That call, from Goldman Sachs, changed the trajectory of his life and the nature of the bank he would eventually join. As part of the early Marcus team, Abhinav went into startup mode. A consumer lending product would kick off a stream of new financial products for consumers and small businesses. As part of the Marcus distribution plan, the team would pursue a DTC strategy combined with strategic partnerships with top brands like Apple, Amazon, Walmart, and JetBlue. Anand joined us at The Big Bank Theory Conference to discuss the partnership journey Goldman Sachs embarked on to massively ramp Marcus and its transformation to a retail bank. Here’s my conversation with Goldman Sachs managing director, Abhinav Anand.

‘In biology, that's symbiosis’: Q2’s Ahon Sarkar on the win-win-win of embedded finance

zack.miller@gmail.com (Tearsheet Studios) — Tue, 07 Dec 2021 07:39:29 +0000

The following was produced by Tearsheet Studios. We worked with Q2, a digital banking software company, to create a four part podcast series on the interplay between banks and fintechs. The world of embedded finance, and Banking as a Service in particular, are made up of three pillars: banking, product, and platform. To make a truly good BaaS product, each one should be delivered by its own expert: the bank, the fintech, and the technology provider, respectively. When each entity gets to focus on what they’re best at, the fourth and central entity wins: the end-customer. In this episode, Tearsheet's Zack Miller spoke with Ahon Sarkar, who currently serves as the GM of Q2’s Banking as a Service division.

Inside Cross River’s ecosystem of some of the best fintech brands

zack.miller@gmail.com (Tearsheet Studios) — Thu, 02 Dec 2021 17:34:42 +0000

Welcome to the Tearsheet Podcast. I’m your host, Tearsheet’s editor in chief, Zack Miller. This following is part of a new series we’re running. It’s called the Big Bank Theory, and it’s all about the future of banking. We see three options going forward: in the march towards digital, people will gravitate towards the digital arms of incumbent banks, give their business to new upstart challenger banks, or the biggest opportunity, which is to bank with the brands they love. Through embedded finance, people are increasingly turning to companies they frequent often -- whether it's a big retail player like Walmart or SMB accounting software like QuickBooks -- to plan, store, and move money around. The following series includes content from Tearsheet’s Big Bank Theory Conference, held in November 2021. We had three full days with the top companies and professionals defining what banking looks like today and into the future. We heard from large incumbents like Bank of America and innovative startups like Current. Behind many of today’s top fintech firms sit important partners. A lot of them are pure technology firms. Other partners hold charters. But Cross River combines both tech and banking to power brands like Affirm, Coinbase, Upstart, Upgrade, and Stripe. The firm’s chief strategy officer, Karan Mehta, joined us at The Big Bank Theory Conference this November to discuss how Cross River’s technology is enabling the delivery of innovative financial solutions to millions of consumers and businesses. We discuss Cross River’s growth, the building of an ecosystem around its proprietary, real-time core, and how fintech partners are plugging into this one-stop-shop to enable payments, banking, and merchant acquiring at scale.

‘Don't let any legacy tie you down’: How Piermont Bank blends humans and tech to service SMBs

zack.miller@gmail.com (Tearsheet Studios) — Wed, 01 Dec 2021 09:33:55 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. While we use the term challenger bank to refer to many of today’s top competitors in digital banking, the truth is very few are actually chartered banks. They are a user experience layer on top of an incumbent bank’s infrastructure. Not Piermont Bank. Started in 2019, Piermont is a fully chartered commercial bank. It uses a combination of technology and human interaction to serve businesses founder and CEO Wendy Cai-Lee says still aren’t serviced. These are businesses with more complexity with accounts receivables and payables, with employees, looking for loans of $750,000 to $10 million -- not the solopreneurs and microbusinesses supported by other challenger banks. Wendy Cai-Lee joins me on the podcast to talk about how Piermont uses its hybrid delivery model to serve this market. We also discuss Piermont’s strategy around providing direct to business commercial banking as well as a banking as a service platform targeting fintechs that want to bank a similar customer. Wendy Cai-Lee is my guest today on the Tearsheet Podcast.

The roadmap ahead for Square Banking with Luke Voiles

zack.miller@gmail.com (Tearsheet Studios) — Wed, 17 Nov 2021 09:06:39 +0000

Welcome to the Tearsheet Podcast. I’m your host, Tearsheet’s editor in chief, Zack Miller. This following is part of a new series we’re running. It’s called the Big Bank Theory, and it’s all about the future of banking. We see three options going forward: in the march towards digital, people will gravitate towards the digital arms of incumbent banks, give their business to new upstart challenger banks, or the biggest opportunity, which is bank with the brands they love. Through embedded finance, people are increasingly turning to companies they frequent often -- could be a big retail player like Walmart or SMB accounting software like QuickBooks -- to plan, store, and move money around. The following series includes content from Tearsheet’s The Big Bank Theory Conference, held in November 2021. We had three full days with the top companies and professionals defining what banking looks like today and into the future. We heard from large incumbents like Bank of America and startups like Current. Zack 1: Square is one of the next generation technology companies that is absolutely part of the fabric of the future of banking. With a seller ecosystem of millions of merchants and the popularity of its Cash App, Square received a banking license in 2021. I spoke with Luke Voiles, the firm’s newly appointed general manager of banking. I’ve spoken to Luke in the past, where he led Intuit’s foray into embedded finance and lending. We discuss Square’s roots and ethos, diving into the firm’s founding story. Luke shares where the firm sees opportunity to provide financial services for its users -- now and into the future. Here’s my talk with Square’s Luke Voiles.

What it would take for FIs to embrace DeFi

zack.miller@gmail.com (Tearsheet Studios) — Wed, 03 Nov 2021 11:42:35 +0000

What it would take for FIs to embrace DeFi by Tearsheet

How Fiserv's partnership is helping Save scale cards that combine savings with investing

zack.miller@gmail.com (Tearsheet Studios) — Mon, 25 Oct 2021 14:09:54 +0000

The following was produced by Tearsheet Studios. We worked with Fiserv, a financial services technology company, to create a four part podcast series on the role and changing nature of data aggregation in the financial industry. You can read and listen to the first episode on the Tearsheet website. In this episode, we spoke with Paul Diegelman, VP of Fiserv side by side with the president and COO of Save. The companies are working closely together to power a new type of savings account that combines savings with investment technology to give higher FDIC-insured returns. There’s a sea of sameness when it comes to banking apps. And with really low interest rates, there’s little to differentiate between all the plain-vanilla offerings. Save is different -- it uses a creative combination between savings accounts and investment technology to give its customers higher returns on their savings and rewards on their cards. I spoke with Adam Watts, the president and COO of Save.

How communications APIs are transforming the banking customer experience

zack.miller@gmail.com (Tearsheet Studios) — Sat, 23 Oct 2021 22:07:54 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. I’m excited to share with you some news about our upcoming online conference, The Big Bank Theory. This year, we’ve combined two of our tent pole events: Challengers and Embedded into a single event, November 10-12. We’ve assembled the top companies and professionals creating and scaling this generation and next generation of digital banks. Those may be traditional financial brands, like Goldman Sachs and Bank of America, or new banking brands, like N26 and Current. Or, in the future we may just bank with the brands and software we resonate with -- like a driver banking with Uber, a retail customer with Walmart, or a small business owner with Intuit. Go to Tearsheet and click on conferences to register for free to this year’s The Big Bank Theory. This year’s conference is sponsored by Publicis Sapient, Explorium, Argyle and Twilio. I spoke with Twilio’s Bijan Mehta recently. He runs the firm’s work in financial services. I’m sharing some of the most important parts of our discussion on the power of embedded communications tools in today’s financial ecosystem.

'We see more and more nonprofits adopt the fintech model': Prudential Financial's Sarah Keh

zack.miller@gmail.com (Tearsheet Studios) — Thu, 14 Oct 2021 08:26:02 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. During the pandemic, many for-profit companies and startups started creating digital tools to help people manage and save their money -- things like getting access to products and services that support their financial health, like financial coaching. At the same time, underserved and low-income consumers -- typically left out of traditional banking -- are increasingly gaining access to mobile and online technology, creating opportunities for nonprofits to participate in fintech. Sarah Keh, vice president of inclusive solutions believes that nonprofit fintechs provide critical services to underserved communities that have otherwise been marginalized. She joins me on the podcast to talk about the impactful work that’s going on in the sector. We discuss how they’re combining revenue sources through enterprise customers in order to grow and scale their business without solely relying on philanthropic funding, which can be unreliable. Sarah shares more about her role at Prudential and the work her firm is doing in the space. Sarah Keh is my guest today on the Tearsheet Podcast.

Embedding communications into financial services with Twilio's Bijon Mehta

zack.miller@gmail.com (Tearsheet Studios) — Tue, 21 Sep 2021 05:35:54 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Twilio sits behind the scenes of today’s slick onboarding and login experiences. The tech firm gives its customers the ability to embed communications into their offerings. Twilio’s few lines of code help with two factor authentication -- where you receive an SMS to your phone after logging into an app or website, all the way to, more recently, a broad omnichannel engagement platform. Bijon Mehta leads financial services at Twilio. I first met him years ago at our first Tearsheet conference. He was at J.P. Morgan then and now leads Twilio’s work in financial services including the firm’s go to market strategy and the channels it uses to reach customers in the industry. Bijon joins me on the podcast to discuss how short form communication is being used in the financial services industry for authentication and increasingly, in communications in general. We talk about how the firm’s clients use Twilio technology to improve their customer experiences. Here’s my talk with Twilio’s Bijon Mehta.

How banks can sustain competitive edge in the era of fintechs with Publicis Sapient's Nigel Vaz

zack.miller@gmail.com (Tearsheet Studios) — Fri, 10 Sep 2021 06:57:09 +0000

Nigel Vaz, CEO of Publicis Sapient, is our guest today on the Tearsheet Podcast. As the head of a multinational organization working with top financial services brands like Goldman Sachs and Bank of America, Nigel has seen digital transformation up close. He's written a book about it, too -- Digital Business Transformation: How Established Companies Sustain Competitive Advantage From Now to Next. The financial services sector is facing unprecedented digital disruption. New entrants with agile processes and modular technologies are raising customer expectations. It’s essential that legacy financial institutions understand what’s driving these changes. By embracing digital business transformation and changing the way financial services institutions think, organize, operate and behave, they can turn threats into opportunities while maintaining their competitive edge. Successful fintech startups knew banking was ripe for disruption. Now it’s time for established financial institutions to learn from these innovators. They can start by taking stock of four forces of connected change that are reshaping financial services today: customer behaviors, new technologies, evolving business models and societal impact. Nigel Vaz, CEO of Publicis Sapient, is our guest today on the Tearsheet Podcast.

‘Data aggregation is used in ways we wouldn't have thought about 5 years ago’: Fiserv’s Kevin Hughes

zack.miller@gmail.com (Tearsheet Studios) — Thu, 09 Sep 2021 09:16:46 +0000

The following was produced by Tearsheet Studios. We worked with Fiserv, a financial services technology company, to create a four part podcast series on the role and changing nature of data aggregation in the financial industry. Data is the foundation of the financial system, making the smooth aggregation of it an imperative task. It means streamlining the sum of an individual’s financial life into a single view, and creating a user experience that uplifts the data to benefit both the individual and the bank -- while simplifying the complex, and keeping it all secure.

Behind the launch of the Dayforce Wallet: Ceridian's Seth Ross

zack.miller@gmail.com (Tearsheet Studios) — Tue, 07 Sep 2021 09:02:35 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. On the podcast and on our site, we’ve explored the world of employment data that’s opening up -- it’s opening up to allow new forms of lending and financial services that use employment data as a major input. So, imagine a lender wanting to loan money to an Uber driver who doesn’t have a traditional income source. But what if the payroll firm didn’t supply just data to 3rd parties? What if the payroll provider got into fintech itself? That’s exactly what Ceridian is doing with its Dayforce Wallet. The company processes $300 billion yearly in paychecks and it’s helping its clients and their employees tap into their salaries earlier and more frequently than the traditional pay cycle. Seth Ross is the new GM of Dayforce Wallet and Consumer Services at Ceridian. I first met Seth when he was at Green Dot, heading up the firm’s banking as a service platform. He joins me on the podcast to talk about Ceridian’s move into financial services and more broadly, to chat about the potential of embedded financial services. Seth Ross is my guest today on the Tearsheet Podcast.

‘It's like marrying the best of the bank and fintech worlds together’: Q2’s Paul Walker

zack.miller@gmail.com (Tearsheet Studios) — Wed, 01 Sep 2021 05:55:11 +0000

The following was produced by Tearsheet Studios. We worked with Q2, a digital banking software company, to create a four part podcast series on the interplay between banks and fintechs. Partnership with fintechs through Banking as a Service has given financial institutions an opportunity to capture new markets and revenue opportunities. The success of this partnership depends on each side bringing in what they’re best at; and especially the banks being willing and able to do things differently, in order to better serve and effectively grow their customer base. In this episode, I spoke with Paul Walker, who’s been with Q2 for the past 15 years, and currently serves as the GM of Q2’s Banking as a Service division.

'We bring the lottery's instant gratification to incentivize people to save': Adam Moelis, Yotta

zack.miller@gmail.com (Tearsheet Studios) — Wed, 01 Sep 2021 05:41:40 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. As humans, we’re just not wired to save money well. And over the years, creative financial institutions have figured out ways to incentivize saving with chances to win money. Prize-linked savings has been a mainstay in the UK and is the largest form of savings. In the US, challenger bank Yotta offers periodic chances for its customers to win money prizes. The more you save, the more chances you have to win. Yotta’s co-founder and CEO Adam Moelis joins me on the podcast to talk about the mechanics of prize-linked savings and how Yotta uses this model to differentiate itself from the competition. We discuss some of the viral components the firm’s built and how it acquires new customers. We also look out into the future for the firm’s product and expansion plans. Adam Moelis is my guest today on the Tearsheet Podcast.

'We were processing like 65% to 75% of all PPP loan applications nationally': Ocrolus' Sam Bobley

zack.miller@gmail.com (Tearsheet Studios) — Mon, 30 Aug 2021 06:51:36 +0000

One of the major challenges in scaling digital finance solutions is handling old school paper. Even with all the automation and digitization, documents still need to be processed and in many cases, humans need to be looped in. Sam Bobley is the co-founder and CEO of Ocrolus, which works with firms like BlueVine, Brex, and PayPal to analyze financial documents in any format. Sam joins me on the podcast to talk about the challenges of balancing speed and accuracy in data extraction in fintech and how the Payroll Protection Program really highlighted the leaders in the space based on their ability to scale up quickly. Sam shares his view on what it takes for the financial industry to move beyond paper to a fully automated ecosystem. He also shares some insights on where he thinks the market is headed as well as Ocrolus’ product road map. Sam Bobley is my guest today on the Tearsheet Podcast.

'Life insurance can be a vehicle to inspire people to live their best lives': YuLife's Sammy Rubin

zack.miller@gmail.com (Tearsheet Studios) — Wed, 25 Aug 2021 06:26:04 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Listening to Sammy Rubin and it’s hard not to feel his infectious excitement about his firm YuLife. He’s taking the humdrum of life insurance and gamified it -- YuLife’s app feels more like an exercise or meditation app than it does insurance. It’s that openness to reimagine financial services that colors his leadership, company, and products. Sammy joins me on the podcast to discuss the genesis of YuLife, his previous entrepreneurship in the space, and his approach to life insurance. We talk about how early customers of his firm have responded to gamified insurance -- how they’re using the app and how they’re making positive changes in their lives. We also look forward to see what else he’s gearing up to do. YuLife founder and CEO Sammy Rubin is my guest today on the Tearsheet Podcast.

'I can't tell you how many millennials pay their bills at the biller's site': Payveris' Marcell King

zack.miller@gmail.com (Tearsheet Studios) — Mon, 23 Aug 2021 10:26:26 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. As banks and credit unions look to modernize to digital payments, they’re turning to firms like Payveris to handle things like bill pay and P2P transfers. Payveris provides cloud payment software to 265 banks and credit unions. Payveris Chief Innovation Officer Marcell King joins me on the podcast to talk about the evolution of banks’ participation in payments and where the market is headed in the future. In a world of Square and PayPal, Marcell describes where banks can compete and find a competitive edge. Shortly after we recorded this call, bill payment player Paymentus announced that it was acquiring Payveris in an attempt to increase the addressable market opportunity for the combined firm. Here’s my conversation with Marcell King.

How BlueVine's partnership with NEXT Insurance ties insurance to SMB banking

zack.miller@gmail.com (Tearsheet Studios) — Wed, 18 Aug 2021 04:49:52 +0000

The following was produced by Tearsheet Studios. We worked with small business lender BlueVine to produce a four part series on creating financial solutions serving historically underserved small businesses. In this episode, we spoke with the CEOs of both BlueVine and NEXT Insurance -- two companies founded on addressing the needs of small businesses, out of a recognition that small businesses make up a huge deal of the economy.

'With a fund, CUNA Mutual Group gets a seat at the table': CMFG Ventures' Brian Kaas

zack.miller@gmail.com (Tearsheet Studios) — Thu, 12 Aug 2021 11:03:38 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. It may be surprising to hear that 124 million Americans are credit union members. Serving that constituency isn’t always easy. That’s because client expectations are high as financial service providers compete on experiences with Netflix and Amazon. CUNA Mutual Group partners with over 95% of all credit unions in the US to help them better serve their membership with insurance and investment proucts. CUNA Mutual Group also invests in fintech. Brian Kaas is the managing director of CMFG Ventures, the firm’s venture capital arm. He joins me on the podcast today to discuss the challenges credit unions face and the role fintech is beginning to play to help them level the playing field. We talk about CMFG’s mandate and some of the firm’s investments like Affirm, Current, Good Money, and Steady.. Lastly, we look ahead to see just where Brian is interested in investing in the future. Brian Kaas is my guest today on the Tearsheet Podcast.

'Crypto will be the future of banking': Abra's Bill Barhydt

zack.miller@gmail.com (Tearsheet Studios) — Tue, 10 Aug 2021 14:15:57 +0000

When you talk to Bill Barhydt about his days at Netscape, you can’t help but feel that he’s reliving that excitement today -- with cryptocurrencies. He’s the founder and CEO at Abra, a crypto wealth management platform that includes a brokerage, high yield investments, as well as a cryptocurrency lending service. Bill joins us on the podcast to talk about the firm’s genesis story, going global, and how Abra services the needs of its consumer and institutional clients in almost 100 countries. We discuss about the evolution of crypto and how the old school banking world and digital asset ecosystems are already working together. Bill shares more about the firm’s recent launch of its crypto lending service and where that product might go in the future. Bill Barhydt is my guest today on the Tearsheet Podcast.

'The PaaS boulder is rolling down the hill': Volante Technologies' John Farrell

zack.miller@gmail.com (Tearsheet Studios) — Tue, 10 Aug 2021 10:11:09 +0000

The following was produced by Tearsheet Studios. We worked with payment as a service provider Volante Technologies to produce a two part series on banks transforming their payments to the cloud and the road to streamlining the customer journey. The payments space is changing. Technology providers are stepping up and offering FIs the ability to modernize their existing payment processes. Through their cloud-based platforms, Payments as a Service providers make it possible for banks to provide digital services that modern customers desire and expect. The move to partnering with a PaaS provider means that FIs can reap the benefits of moving to the forefront of digital transformation -- but what does that really mean?

'We take a portfolio approach, like a venture capitalist': Amex Digital Labs' Matt Sueoka

zack.miller@gmail.com (Tearsheet Studios) — Mon, 09 Aug 2021 09:05:06 +0000

Today’s guest on the podcast is Matt Sueoka, head of global strategy, partnerships and enablement for Amex Digital Labs. We discuss what it takes to scale new form factors in digital payments. Matt shares how Amex Digital Labs makes investments, chooses partners and prioritizes its product pipeline across form factors like QR, tokenization, and P2P -- Matt gives real like examples of projects that were headed by his part of the organization that eventually found a home in American Express’ product portfolio.

‘We spend more energy digging gold out of the ground than mining crypto’: Paxos’ Charles Cascarilla

zack.miller@gmail.com (Tearsheet Studios) — Thu, 05 Aug 2021 10:30:07 +0000

The following was produced by Tearsheet Studios. We worked with crypto brokerage Paxos to create a podcast series about the mainstreaming of crypto, the genesis of Paxos, the rise of stablecoins, and crypto’s energy and environmental impact. Alongside the mainstreaming of crypto are concerns about the impact of its mining on the environment. While a significant amount of crypto is mined with renewable sources like solar and hydro, much of it still relies on non-renewable, carbon dioxide emitting sources. For the final episode of this series, we spoke with Paxos’ CEO Charles Cascarilla about the truth behind the concerns, the relationship between economy and energy, and what he learned from building his own crypto mining farm.

'We're solving an identity problem': Fast's Allison Barr Allen

zack.miller@gmail.com (Tearsheet Studios) — Wed, 04 Aug 2021 06:15:30 +0000

Retail is enjoying a fintech Renaissance of sorts -- from BNPL and other new forms of payments to a maturation of the ecommerce checkout experience. Fast is building one-click checkout on merchant sites across the internet. Much like Uber made payments invisible, Fast is doing something similar for shopper identities. Creating accounts on sellers’ sites has always been an impediment to the payment flow. Fast takes away that friction with an elegant solution that shares user information with merchants and also integrates to include SKU-level data. Allison Barr Allen is co-founder and COO of Fast. She joined Fast from Uber, where she was head of global product operations for the Money Team. As my guest on the podcast, Allison describes some of the challenges inherent in ecommerce payments. We chat about the opportunity to go both global in scale as well as niche down into specific industry solutions. Allison Barr Allen is my guest today on the Tearsheet Podcast.

‘You can't stand on the sidelines and watch that happen forever’: Volante Technologies’ John Farrell

zack.miller@gmail.com (Tearsheet Studios) — Tue, 03 Aug 2021 10:48:52 +0000

The following was produced by Tearsheet Studios. We worked with payment as a service provider Volante Technologies to produce a two part series on banks transforming their payments to the cloud and the road to streamlining the customer journey. Volante helps banks around the world rise to the challenge of digital transformation. Through simplifying payment systems and processes, they help banks modernize their customer experience. And what sets Volante apart is its technology architecture -- it was built from the ground up for the cloud.

Mission Lane's approach to helping people access credit with Shane Holdaway

zack.miller@gmail.com (Tearsheet Studios) — Thu, 29 Jul 2021 15:59:36 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. With all the fintech and focus on the unbanked and underbanked, there are still tens of millions of Americans who lack access to mainstream financial services. Those are Mission Lane’s customers. A spinoff of LendUp, the firm’s credit card is the first product in a portfolio designed to address this demographic’s financial needs and wants. Shane Holdaway is Mission Lane CEO. After a career on the other side of the aisle, running businesses for large traditional financial institutions, he’s charged with leading the company into its next stage of maturity. We talk about his personal transition from finance to fintech and how that informs his work. We talk about why the financial industry has failed so many and what he and his firm plan to launch and grow in the future. Shane Holdaway is my guest on the Tearsheet Podcast.

‘How blockchain can replatform the financial system’: Paxos’ Charles Cascarilla

zack.miller@gmail.com (Tearsheet Studios) — Tue, 27 Jul 2021 08:26:02 +0000

The following was produced by Tearsheet Studios. We worked with crypto brokerage Paxos to create a podcast series about the mainstreaming of crypto, the genesis of Paxos, the rise of stablecoins, and crypto’s energy and environmental impact. The mainstreaming of crypto means the mainstreaming of blockchain technology as well. Through blockchain, it is now possible to hold all assets — within and outside the cryptocurrency market — safely and decentralized. Stablecoins are an attractive digital asset, because they promise to pave the way for a new and improved movement of money.

'It's all about a customer's point of need': Plaid and Accenture on the future of embedded finance

zack.miller@gmail.com (Tearsheet Studios) — Fri, 23 Jul 2021 06:48:24 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. 47 percent of professionals in the US are considering investing in and launching embedded finance offerings. That’s according to a new report produced by Plaid and Accenture Research. A majority of non-financial companies are using partners, buying, or licensing technology as part of an embedded finance strategy. Plaid’s COO Eric Sager joins Ben Brown, cross-industry financial services lead at Accenture, on the podcast to talk about embedded finance -- what competitive trends are at work, where embedded finance is headed and what it takes to be a winner in the space as new brands move into banking and finance.

‘Technology-forward FIs realize that fintechs are not competition’: Q2’s Jonathan Price

zack.miller@gmail.com (Tearsheet Studios) — Sun, 18 Jul 2021 09:02:34 +0000

The following was produced by Tearsheet Studios. We worked with Q2, a digital banking software company, to create a four part podcast series on the interplay between banks and fintechs. We no longer view them as diametrically opposed. With new embedded finance and banking as a service technology, banks and fintechs can work together to serve customers better. Banks and fintechs can collaborate to give customers what they’re best at delivering. Jonathan Price, Q2: My name is Jonathan Price. I run emerging businesses at Q2. It’s an organization that we set up in late 2019, early 2020 that brings together the fintech ecosystem and the bank and credit union ecosystem that Q2 has always served. There's really four legs of the stool to the emerging businesses group at Q2. The first two are the enterprise wide functions of corporate and business development: how we think about and execute M&A, as well as partnerships. And then the other two legs of the stool are incubated startups inside the company. One called Q2 BaaS, which is our banking as a service business. And then what we announced just a couple of weeks ago, Q2 Innovation Studio. That's an interesting new business we launched in 2020 and just went GA last month. We're letting the third party ecosystem ride the rails of our digital banking platform, our core product of the company, and opened up that SDK to third parties, allowing them to access the channel of banks and credit unions that use our digital banking platform. That includes over 18 million end users, as well as approximately 2 million small businesses.

‘They were afraid to be first, now they're afraid to be left behind’: Paxos’ Charles Cascarilla

zack.miller@gmail.com (Tearsheet Studios) — Wed, 14 Jul 2021 16:19:16 +0000

The following was produced by Tearsheet Studios. We worked with crypto brokerage Paxos to create a podcast series about the mainstreaming of crypto, the genesis of Paxos, the rise of stablecoins, and crypto’s energy and environmental impact. We’ve reached a point in history where there are no longer two distinct financial systems: the incumbent financial system and the world of blockchain and cryptocurrencies. Some of the most popular fintech apps like PayPal, Revolut, and Venmo have introduced access to crypto. Many of the largest banks have plans to offer crypto trading to their clients. And credit card companies are making it easier to convert crypto to fiat at the point of sale. We call this the mainstreaming of crypto.

'My mandate is to find great partners that can reach millions of consumers': Green Dot's Amit Parikh

zack.miller@gmail.com (Tearsheet Studios) — Wed, 14 Jul 2021 04:59:01 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Today’s guest on the program is Amit Parikh, executive vice president of its banking as a service (BaaS) division. In this role, Parikh will lead the organization responsible for delivering end-to-end technology and program management to Green Dot’s banking as a service partners, and building financial ecosystems for some of the world’s most prominent consumer and technology companies, like Apple, Uber, and Quickbooks. Parikh joins Green Dot from Apple, where he built partnerships and features. He was most recently Head of Wallet Services Partnerships, a role in which he led a team responsible for transit, access and new initiatives; and he served as Chief Operating Officer of Apple Payments. Just four months into his new role, Amit joins me on the podcast to talk about banking as a service and where he plans to lead Green Dot in the future.

‘A real underdog mentality permeates this place’: Chase’s chief product officer, Allison Beer

zack.miller@gmail.com (Tearsheet Studios) — Mon, 12 Jul 2021 07:26:56 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet Editor in Chief, Zack Miller. One of the things I find so interesting about JPMorgan Chase is its ethos of being an underdog in spite of having 56 million digitally active customers on its website and mobile app. The firm is actively developing and rolling out new functionality with a frequency that belies its size. Today’s guest on the show is Allison Beer, Chief Product Officer and Head of Customer Experience and Digital at Chase. In a discussion around the future of digital banking as we reemerge after the pandemic, we talk about three key trends: automation, personalization and real-time payments. Allison provides us a look into the firm’s product roadmap -- we also look back to Chase’s Finn brand and what the takeaways were from that experience. Lastly, we discuss how Chase looks to fintech, Big Tech, and other non financial brands for inspiration around UX with a vision towards the future of banking. Allison Beer is my guest today on the Tearsheet Podcast.

‘Solving corporate payments is about context, not about who pays’: Mesh Payments’ Oded Zehavi

zack.miller@gmail.com (Tearsheet Studios) — Thu, 08 Jul 2021 06:33:03 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet Editor in Chief, Zack Miller. As an early PayPal employee, Oded Zehavi jumpstarted the firm’s Middle East and Africa business. From there, he joined Payoneer to help with a turnaround by optimizing sales, product and marketing. Now, Oded is the CEO and co-founder of Mesh Payments, a corporate payments firms that uses a speciality in helping firms manage their subscription spend to eventually handle their total spend. We talk about the changes Oded has seen in the payments industry over the past 15 years and where he thinks it’s headed in the future. We drill down into opportunities for payments firms in the SaaS economy and how Mesh uses its experience managing SaaS payments to expand into its clients total spend -- it grew 600 percent over the past year. Oded Zehavi is my guest today on the Tearsheet Podcast.

‘Financial services haven’t caught up with the ways people make money’: Argyle’s Billy Marsden

zack.miller@gmail.com (Tearsheet Studios) — Wed, 30 Jun 2021 11:27:19 +0000

The following was produced by Tearsheet Studios. We worked with employment data platform Argyle to create a podcast series about the rising importance of employment data and how lenders, banks and fintechs are using this data to make financial products available to more people, solving some of the challenges with today’s financial services. Thanks to rapid technological advancements, everything we know about work is constantly changing. The pandemic also brought about massive job losses and many career paths changed as a result. With the rise of the gig economy, this new reality means more and more people are joining the non-traditional, multi-income workforce. Financial systems, like credit scoring, weren't built for this new worker -- they were built for the W2 worker, with a single full-time job and monthly pay stubs. This leaves non-traditional workers underserved by traditional financial services, and puts major hurdles in the way of deserving folks toward their financial wellbeing. Fintechs like Argyle look to technology to create transparency and empower everyday people.

'Sitting in the back of an Uber, we understood drivers have a pain point': Payfare's Marco Margiotta

zack.miller@gmail.com (Tearsheet Studios) — Mon, 28 Jun 2021 06:54:43 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet Editor in Chief, Zack Miller. An important theme we’ve covered has been the rising availability of earned wage access solutions. As more workers engage in the gig economy, fintech and payment solutions are emerging that help people access their wages as they earn them, instead of waiting for a monthly or bi-weekly pay cycle. Payfare is one of those companies. Fresh off an IPO in Toronto in March of this year, the company works with platforms like Uber, Lyft, and Doordash to enable their workers to get paid. Payfare CEO Marco Margiotta joins us on the podcast to discuss the move to go public and what changes that presented to management. Marco discusses trends in gig economy payments and earned wage access. Lastly, we look ahead to see where earned wage access matures to and how Payfare’s products will continue to support workers. Marco Margiotta is my guest today on the Tearsheet Podcast.

‘How do financial services need to adapt to the individual?’: Argyle’s Hannah Arnold

zack.miller@gmail.com (Tearsheet Studios) — Thu, 24 Jun 2021 05:54:18 +0000

The following was produced by Tearsheet Studios. We worked with employment data platform Argyle to create a podcast series about the rising importance of employment data and how lenders, banks and fintechs are using this data to make financial products available to more people, solving some of the challenges with today’s financial services. Good fintech solutions address the status quo of who gets to benefit from financial services. They do so by first recognizing that there is power in non-traditional data, and secondly that the ownership of that data belongs with its creator: the consumer. From providing mobile-based banking services where brick and mortar banks don’t compete, to simplifying payment flows for one-person businesses, fintechs empower individuals by giving them the financial tools and pathways to improving their lives. I spoke with Hannah Arnold, vp of business development at Argyle, about using employment data to supplement poor or nonexistent credit in the lending process.

'Our four prong product strategy is a decade long vision': OppFi's Jared Kaplan

zack.miller@gmail.com (Tearsheet Studios) — Tue, 22 Jun 2021 06:22:53 +0000

Welcome to the Tearsheet Podcast. I'm Tearsheet Editor in Chief, Zack Miller. OppFi is a fintech platform offering financial products to most Americans. The business was built on a core small-dollar monthly installment loan product for near prime customers. As it goes public, OppFi is expanding its product set into credit cards and payroll deduction products serving consumers with FICO scores under 620 with incomes of $50,000 a year. OppFi CEO Jared Kaplan joins me on the podcast to discuss the types of financial products 150 million Americans can use to live their lives and what their alternatives are. We discuss OppFi’s growth trajectory and plans for the future as a public company. Lastly, we hit on how the firm differentiates from its competitors, including Upstart, which at first blush, feels quite similar.

Tribevest makes it easy, fast and social to form a business and invest with friends and family

zack.miller@gmail.com (Tearsheet Studios) — Wed, 16 Jun 2021 14:26:58 +0000

Welcome to the Tearsheet Podcast. I'm Tearsheet editor in chief, Zack Miller. When you look at investment behavior, people are more likely to invest in things family and friends invest in than they are to follow professional advice. That’s why there have been an infinite number of social investment platforms created that allow investors to copy one another. But when it comes to investing in real estate or creating businesses together, friends and families had to essentially recreate the wheel each time they made an investment. That includes creating a company with legal documents, funding an account, managing a cap table. There’s a lot that goes into it and that’s what Tribevest wants to help with. Tribevest is an early stage company that provides what an investor group needs to make investments: including a bank account, a schedule of contributions and communication tools. CEO Travis Smith joins me on the podcast to talk about his own personal journey putting money in private investments that he took with his brothers. We talk about who’s using the platform, the investment use cases he’s seeing on the platform, and his plans for the future. Travis Smith is my guest on the Tearsheet Podcast.

'We are the railway network that moves data from one site to the next': Argyle's Audrius Zujus

zack.miller@gmail.com (Tearsheet Studios) — Tue, 15 Jun 2021 13:58:38 +0000

T>he following was produced by Tearsheet Studios. We worked with employment data platform Argyle to create a podcast series about the rising importance of employment data and how lenders, banks and fintechs are using this data to make financial products available to more people, solving some of the challenges with today’s financial services. A fintech CTO’s job is wide and varied. Building a secure fintech solution that handles sensitive financial and employment data requires you to tread carefully. You can’t really move fast and break things. It gets really interesting when you imagine the challenge of getting at employment data, for example, requires building new tools on top of legacy tech stacks that weren’t built with modern fintech requirements in mind. Argyle's CTO Audrius Zujus speaks to Tearsheet editor in chief about the challenge and opportunity to build fintech solutions that are scalable and secure.

'What does it look like when we're not reliant on credit scores anymore?': Argyle's Shmulik Fishman

zack.miller@gmail.com (Tearsheet Studios) — Thu, 10 Jun 2021 07:08:28 +0000

I’m Zack Miller, editor in chief of Tearsheet. The following was produced by Tearsheet Studios. We worked with employment data platform Argyle to create a podcast series about the rising importance of employment data and how lenders, banks and fintechs are using this data to make financial products available to more people, solving some of the challenges with today’s financial services. The nature of work is changing. People are taking on more gigs, driving for Uber, freelancing on projects. I talk with Argyle CEO and founder Shmulik Fishman about the opportunity to build an employment data ecosystem, connecting employers, payroll providers, and consumers. We discuss his entrepreneurial journey, the technical challenges ahead, and the role of consumer-permissioned data in the financial industry.

Better Financial is building a challenger bank to help customers with financial shocks

zack.miller@gmail.com (Tearsheet Studios) — Wed, 09 Jun 2021 06:51:24 +0000

Welcome to the Tearsheet Podcast. I'm Tearsheet editor in chief, Zack Miller. This article was sent out to subscribers to EarlyStage, Tearsheet’s newest newsletter. With EarlyStage, we go deeper on some younger companies that point to trends, products and services, and entrepreneurs that should be on your radar screen. Into a sea of sameness, new challenger banks are launching left and right. More are focusing on demographic needs, like providing banking services to the LGBTQ community or to immigrants. Better Financial, on the other hand, addresses a problem the majority of Americans know well: financial shocks. It could be losing a job or getting sick. Better Financial has embedded insurance products into its banking platform that provide a safety net for when something unexpected happens. It all happens behind the scenes. Thiel fellow and founder Kaushik Tiwari is my guest today on the Tearsheet Podcast.

'Founders use expensive capital to do something repeatable': Behind ClearCo's funding model

zack.miller@gmail.com (Tearsheet Studios) — Mon, 24 May 2021 11:22:09 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Revenue based financing is quickly becoming a popular route for businesses to tap into needed capital. Structured like a loan and not equity, new financing firms are using this new/old type of financing to help all types of businesses to scale. ClearCo brands itself as the world’s largest ecommerce investor. It’s fresh off of closing its own $100 million equity round, including $250 million debt facility. The company, which rebranded from Clearbanc, has close to a $2 billion valuation and is sharing new data on how Clearco’s proprietary AI is democratizing funding to female founders and people of color. ClearCo’s co-founders, Michele Romanow and Andrew D’Souza, an entrepreneurial couple, join me to discuss their plans for with this new round of funding and why ClearCo is well positioned to fuel entrepreneurship outside of typical venture networks and regions.

'It's not just about sharing --it's about what consumers can do now': U.S. Bank and Plaid share data

zack.miller@gmail.com (Tearsheet Studios) — Thu, 20 May 2021 05:30:31 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. The journey from screen scraping consumer financial data to API, permissioned access continues. U.S. Bank recently announced a partnership with technology partner, Plaid. Gareth Gaston from U.S, Bank and Ginger Baker from Plaid join us to talk about the recently announced integration between the two around consumer financial data. We discuss the nature of the integration and why it’s significant. Both Ginger and Gareth describe the relevance of the US Bank permission hub and Plaid portal synching. We also talk about the impact API deals like this have on consumer behavior and fintech uptake.

'Let's evaluate what a company spends and we'll help it spend less': Ramp's Eric Glyman

zack.miller@gmail.com (Tearsheet Studios) — Mon, 17 May 2021 13:37:28 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Corporate credit card firm Ramp is hot off a big fundraising making it one of the youngest firms to reach billion dollar valuation status in history having launched in February 2020. Eric Glyman, Ramp’s co-founder and CEO, joins me on the podcast to talk about how Ramp’s positioning to help its business clients spend less has impacted its trajectory. We discuss the most recent fundraising round that saw Stripe, Goldman Sachs, and Thrive participate and what’s interesting investors around Ramp’s software-led model. Eric describes how Ramp’s product is changing, maturing. Ramp’s Eric Glyman is my guest today on the Tearsheet Podcast.

"it is so expensive to get 10 first customers': JAM Fintop's new fund has 66 community bank LPs

zack.miller@gmail.com (Tearsheet Studios) — Mon, 10 May 2021 12:51:35 +0000

Welcome to the Tearsheet Podcast. I'm Tearsheet editor in chief, Zack Miller. Money continues to pour into the space. From IPOs to large venture rounds to SPACs, there’s a lot of liquidity sloshing around. And yet, there are still lots of opportunities. JAM FINTOP Banktech is a $150 million investment fund, looking to deploy capital into tech firms serving community banks around the US. What’s really interesting is all 66 of the fund’s limited partners are community banks, accounting for $600 billion in assets. That would rank as the fifth largest US bank. The fund is a partnership between Fintop Capital and Jacobs Asset Management (which we’ll refer to as JAM.) On today’s show, we have Joe Maxwell of Fintop, joined by Adam Aspes and Ryan Zechariah of Jacobs Asset Management on the show to talk about the fund and its investments, sure. But it’s also a conversation around the future of community banking and what kinds of tools and technologies they’ll need to be competitive in the future.

'No one ever said, I can't wait to go banking today': Bank of America's Hari Gopalkrishnan

zack.miller@gmail.com (Tearsheet Studios) — Fri, 07 May 2021 05:26:00 +0000

Hari Gopalkrishnan is the Client Facing Platforms Technology executive for Bank of America Merrill. He’s responsible for leading the development of the next generation of integrated technology solutions for the company’s consumer and wealth management client-facing channels. He also manages the bank’s websites and e-commerce initiatives. Hari joins me on the podcast to talk about Erica — the firm’s AI-driven virtual financial assistant. We talk about where it’s come from and where it’s headed — with an insightful look on how customers used it during the past year. Hari describes some of the important customer-facing initiatives Bank of America has underway. Hari Gopalkrishnan is my guest today on the Tearsheet Podcast.

How small businesses survived and thrived during the pandemic with BlueVine's Eyal Lifshitz

zack.miller@gmail.com (Tearsheet Studios) — Wed, 05 May 2021 06:46:30 +0000

The following was produced by Tearsheet Studios in partnership with small business lender BlueVine. It's Small Business Week, and BlueVine really wanted to highlight how it's helping small businesses, particularly around the paycheck protection program. Today, we're happy to have two guests with us: First, Eyal Lifshitz, CEO of BlueVine. Eyal is a third-generation small business entrepreneur who co-founded BlueVine to build a better financial future for small businesses Eyal is joined by one of his customers, Joy England of Advocates in Action. She talks about her experiences navigating through the pandemic as a small business and how firms like BlueVine helped SMBs with the PPP program, assisting in accessing needed funding during a trying time.

Wave's Kirk Simpson on what it takes for SaaS firms to offer banking products

zack.miller@gmail.com (Tearsheet Studios) — Tue, 04 May 2021 08:47:11 +0000

Jack Henry's Tede Forman on the connection between the gig economy and real time payments

zack.miller@gmail.com (Tearsheet Studios) — Thu, 29 Apr 2021 13:43:30 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Smaller community banks and credit unions have an opportunity to differentiate and compete in payments. Unfortunately, many smaller FIs haven’t formulated a succinct strategy. It’s a good time to do it — there are technologies and tools out there to help them service their customers better. Tede Forman is Jack Henry’s head of consumer and commercial payments. He’s seen upfront the evolution in payments — from bill pay to real time payments — and its impact on bank offerings. He joins me on the podcast to talk about the choices and new opportunities in faster payment options. We talk about advances in bill pay technology and how it’s become table stakes for FIs. We also talk about how smaller banks and credit unions are finding ways to punch above their weight through technology partnerships and collaborations. Tede Forman is my guest today on the Tearsheet Podcast.

Q2's Ahon Sarkar on how banking as a service changes the economics of serving the underbanked

zack.miller@gmail.com (Tearsheet Studios) — Sun, 25 Apr 2021 08:28:01 +0000

The following was produced by Tearsheet Studios. We worked with Q2, a digital banking software company, to create a four part podcast series on how embedded finance and banking as a service is changing the definition of who is a bank, where customers turn for banking products and services, and how it is helping some of the weakest players in the economy get access to the modern financial industry. There’s still almost 20% of the U.S. population that’s underbanked. That’s tens of millions of people who may have access to basic banking but are falling between the cracks. That’s in spite of the fintech bull market we’ve had over the past few years. I interview Q2's Ahon Sarkar about the impact banking as a service changes the economics of banking. The result is more products and services available for the underbanked. We discuss how this changes the banking industry and the customers it serves.

'Small business powers our communities': How Wave empowers entrepreneurs to start up new businesses

zack.miller@gmail.com (Tearsheet Studios) — Fri, 23 Apr 2021 07:59:55 +0000

I’m Zack Miller, editor in chief of Tearsheet. The following was produced by Tearsheet Studios. We worked with Wave, a financial software company for entrepreneurs and small businesses, to create a three part podcast series on what micro businesses and solopreneurs really need now from their banks, financial service providers, and financial software. It’s never a simple time for small business owners. They live and breathe cashflow. Many function pretty much hand to mouth, so any disruption -- let alone the pandemic we’re navigating through -- any disruption can really challenge an entrepreneur. I, for one, wouldn’t like to see a world with all big box retailers, faceless corporations, hawking me throwaway stuff and disposable experiences. I think the crisis brought out the fact that small businesses are really important parts of our cities, towns, and communities. If they suffer, we all suffer. Kirk Simpson, is the CEO of Wave, a provider of free accounting software for entrepreneurs. He lives and breathes what micro businesses deal with -- they’re his customers. So while he tracked the struggles of these folks, he also watched as many survived and thrived. It was also a time that a lot of people set out on their own to follow their own entrepreneurial dreams.

Wave's Kirk Simpson on the founding and exiting of Wave, a fintech startup

zack.miller@gmail.com (Tearsheet Studios) — Sun, 18 Apr 2021 16:04:25 +0000

The following was produced by Tearsheet Studios. We worked with Wave, a financial software company for entrepreneurs and small businesses, to create a three part podcast series on what micro businesses and solopreneurs really need now from their banks, financial service providers, and financial software. One of the things that’s got me really interested in fintech was hearing founders’ own stories. What got them into the business. Why some left high paying jobs to throw their hats in the entrepreneurial ring. A ring that can be really hard, confounding and a roller coaster of emotion. Many of them started their business out of a deep connection to the problem they’re trying to solve. And when you trace back through their stories, you can get some insight and apply it to your own business, practice, or department you’re trying to build. In 2009, Kirk Simpson founded Wave, accounting software for entrepreneurs, micro businesses and solopreneurs. He didn’t have an accounting background -- his co-founder did -- but he did have experience building and running small businesses. Also, he absolutely wanted to leave working for the man, which helps fire up the motivation to change how things are done. To stir the pot. To mix things up and break through the status quo.

'We connect banks, businesses and partners in a collaborative ecosystem': Bottomline's Norm DeLuca

zack.miller@gmail.com (Tearsheet Studios) — Wed, 14 Apr 2021 08:32:25 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. As banks increasingly work with modern technology providers, ecosystems are forming around them and the businesses they serve. Norm DeLuca is the general manager of digital banking solutions at Bottomline Technologies. He knows something about ecosystems and something about banking — spending 20 years in the industry. Bottomline works with nearly 1000 banks around the world to connect them with businesses and innovative partners using digital technologies to help them move the ball forward. Norm DeLuca is my guest today on the Tearsheet Podcast.

Behind the creation of the Q2 Marketplace with Greg Varnell

zack.miller@gmail.com (Tearsheet Studios) — Thu, 08 Apr 2021 04:58:32 +0000

I’m Zack Miller, editor in chief of Tearsheet. The following was produced by Tearsheet Studios. We worked with fintech software provider Autobooks to create a four part podcast series on the evolution of business banking and how banks can better service SMBs through a changing mindset, partnerships and integrations. We’ve moved beyond the paradigm of banks versus fintechs. Banks are partnering with top technology companies in a way that plays to both parties’ strengths. But these partnerships are resource-heavy and hard: hard to get to contract, hard to integrate, and hard to slot into changing priorities. Q2 is a banking software firm in Austin, Texas. 400 banks and credit unions use its software to power digital banking. I spoke with Greg Varnell, vice president of product and development in the innovation Studio at Q2. Greg describes the Q2 Marketplace and how fintechs and banks are using it as a way to more closely and quickly partner.

'It's a no brainer to add a virtual card into the travel product': TripActions' Michael Sindicich

zack.miller@gmail.com (Tearsheet Studios) — Wed, 07 Apr 2021 07:39:09 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. Embedded finance is a recurring theme in our coverage on Tearsheet on here, on the podcast. With APIs and banking as a service platforms, firms in all kinds of industries are getting into finance. That’s the story line here. TripActions is an innovate business travel & expense platform that continues to evolve to serve its customers. That meant launching its own travel agency. And it also meant launching Liquid (https://tripactions.com/uk/liquid), TripActions’ own payments solution that ties employee spending in to its software and includes corporate cards. Michael Sindicich is the general manager of TripActions Liquid and was one of the first employees in the company. Michael joins me on the podcast to discuss the firm’s growth trajectory and how that impacted why the firm launched a payment solution. We also discuss the uptake of TripActions Liquid and where the firm is headed in the future with its fintech aspirations. Michale Sindicich is my guest today on the Tearsheet Podcast.

'You're best having a cannabis banking program, not a project': The ins and outs of banking cannabis

zack.miller@gmail.com (Tearsheet Studios) — Mon, 05 Apr 2021 08:47:57 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Even as more states legalize marijuana, banking cannabis customers is still a major undertaking. Regent Bank is a small bank with 5 branches in Oklahoma and Springfield, MO. As Regent sensed an opportunity to work with cannabis customers in its communities, it tapped Keri Cain to build out its program. Keri has a background in retail and moved to OK after a stint directing store operations at The Gap’s headquarters in San Francisco. She also has muscular dystrophy and has used cannabis to manage her pain in the past and will likely need to do so in the future. She’s passionate about working with cannabis because of the medical benefits it can provide. To launch and manage its cannabis program, Regent worked with Green Check, a firm that works with banks to service customers in the cannabis industry. Green Check founder and CEO Kevin Hart joins Regent’s Keri Cain with me on the podcast to talk about cannabis banking, how to start up a program, and what banks need to be successful working with this new industry.

How nbkc gets more out of the fintech partner selection process

zack.miller@gmail.com (Tearsheet Studios) — Fri, 02 Apr 2021 10:31:45 +0000

The following was produced by Tearsheet Studios. We worked with fintech software providerAutobooks to create a four part podcast series on the evolution of business banking and how banks can better service SMBs through a changing mindset, partnerships and integrations. The old paradigm of banks versus fintechs is getting tired. The truth is, both sides of the industry have been partnering successfully for years and they’re finding new ways to partner. Finding ways to collaborate that bring the best each has to offer. That creates value to both parties beyond what each can do alone. nbkc is a 22 year old bank serving the Greater Kansas City region. The community bank has used partnerships with fintechs to go digital -- with mortgages and more recently, with consumer and business savings and checking accounts. Evan Ashcraft is vice president of product strategy at nbkc. He joins us on the podcast to discuss how banks can get more out of the partner selection process, avoid common pitfalls, and prepare for a successful launch.

With Direct Payouts, Visa can push payments to cards and accounts cross border

zack.miller@gmail.com (Tearsheet Studios) — Tue, 30 Mar 2021 11:48:19 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Push payments are the reverse of how we think credit cards work. Instead of pulling customer funds to pay a merchant, push payments have merchants sending money out to the cardholder. Visa Direct is a major player in the space and the payment firm is now announcing Visa Direct Payouts, which allows Visa clients and partners to push payments to cards and accounts for cross border payments. With this new addition, Visa Direct now provides multi-rail access to 5 billion cards and accounts combined across more than 200 geographies, supporting 160 currencies. Bill Sheley, svp, global head, Visa Direct joins me on the podcast to discuss the launch of Visa Direct Payouts. We talk about the challenges and opportunities of sending money cross border and how Visa is positioning itself in this market. Bill gives us an update on Visa Direct and how the ecosystem has grown over the past year and where it’s headed in the future.

Behind the Marqeta partnership with Deserve's Kalpesh Kapadia

zack.miller@gmail.com (Tearsheet Studios) — Thu, 25 Mar 2021 07:51:25 +0000

Welcome to the Tearsheet Podcast. I'm Zack Miller. It’s been a while since we caught up with Deserve, the credit card as a service pureplay. Over the past year, the company has grown and last month, signed a partnership with modern issuer Marqeta. Kalpesh Kapadia joins me on the podcast to talk about where Deserve has come from and where' it's headed. We discuss how the tie up with Marqeta can unlock new use cases for credit cards that we wouldn't have thought possible in the past. Kalpesh also describes how his personal experience as a new student in the U.S. informed founding and launching his fintech firm. Kalpesh Kapadia is my guest today on the Tearsheet Podcast.

Behind Temenos' new push in the US with Jacqueline White, president of the Americas

zack.miller@gmail.com (Tearsheet Studios) — Tue, 23 Mar 2021 09:21:51 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Banking software firm Temenos continues to invest and commit to the US market. The firm recently hired Jaqueline White to lead the charge in the Americas . Jacqueline has a strong background in financial services, software and services and joins me on the podcast today to talk about her mandate in leading Temenos and the firm’s relationship with the US market. We also talk a lot about digital banks and SaaS models applied to financial institutions. Jacqueline discusses the impact deposit growth will have on profitability for the industry. Jacqueline White is my guest today on the Tearsheet Podcast.

'Embedded fintech is about banking integrating SaaS': Autobooks' Derik Sutton

zack.miller@gmail.com (Tearsheet Studios) — Mon, 22 Mar 2021 10:28:47 +0000

The following was produced by Tearsheet Studios. We worked with fintech software provider Autobooks to create a four part podcast series on the evolution of business banking and how banks can better service SMBs through a changing mindset, partnerships and integrations. With APIs and embedded finance, it’s getting easier for software firms to integrate financial products into their offerings. So, software used by the construction industry, for example, can incorporate payments via a tie-up with a fintech company. Derik Sutton leads marketing insights at Autobooks, a small business product suite that integrates directly inside of a bank's existing digital banking channels. So think cash flow management, sending digital invoices, accepting online payments, accounting and financial reporting, all directly integrated inside of a bank's online and mobile banking channel. The firm works with community banks all the way up to top 10 banks like TD Bank.

Inside Mint's renewed push into personal finance with Intuit's Varun Krishna

zack.miller@gmail.com (Tearsheet Studios) — Fri, 19 Mar 2021 09:03:36 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. As a pioneer in personal financial management, Mint was a star. But after getting acquired by Intuit, Mint kind of dropped out of the public eye. Years passed and so many new PFM apps and challenger banks have entered the market. But Mint is back with a new ethos for addressing the challenge of helping consumers with their cash flow. Mint no longer stands alone as a consumer offering at Intuit which is deep into serving the small business. Intuit bought personal finance leader CreditKarma last year, giving Mint more of a home and strategy at the firm. Intuit’s head of consumer finance Varun Krishna joins me on the podcast to discuss where Mint has come from and where it’s taking its 25 million users in the future with a new product update and renewed push to help individuals manage their money. Intuit’s Varun Krishna is my guest today on the Tearsheet Podcast.

'Dreaming up Greenlight, investing was always part of it': Behind the launch of Greenlight Max

zack.miller@gmail.com (Tearsheet Studios) — Wed, 17 Mar 2021 09:20:07 +0000

New entrants continue to launch into teen banking. Greenlight is an early entrant into the space, focusing on the financial interactions parents have with their kids. Greenlight has now extended its offering into investing. Greenlight Max is a fractional brokerage integrated into the app that allows kids, along with their parents, to make investments in stocks and ETFs. CEO Tim Sheehan joins me on the podcast to discuss the new product and the type of feedback Greenlight is getting from its 2 million users.

'SMBs are stuck in a banking problem that they need help solving': Autobooks' Steve Robert

zack.miller@gmail.com (Tearsheet Studios) — Tue, 16 Mar 2021 08:46:39 +0000

The following was produced by Tearsheet Studios. We worked with fintech software provider Autobooks to create a four part podcast series on the evolution of business banking and how banks can better service SMBs through a changing mindset, partnerships and integrations. It’s really hard running a small business -- owners have to wear many hats. Frequently, they’re taking care of sales, operations, customer service and finance all at the same time. You know the expression around kids -- that it takes a village to raise them? Well for a small business, it takes an ecosystem to support them. And that ecosystem should involve their banks. That’s because the most important thing to an SMB is cashflow. If cash is king, cashflow is the oxygen SMBs breathe. Without it, they struggle to survive. Banks play a key role here. Autobooks' Steve Robert explains how banks can step in to fill the void to help their small business customers.

Behind the scenes of the Truist Cares campaign with Agency of the Year, StrawberryFrog

zack.miller@gmail.com (Tearsheet Studios) — Thu, 04 Mar 2021 09:58:54 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. The best marketing and advertisements stay with you. They speak to the zeitgeist in the world at a specific time with the right words, the right imagery, the right message. Creative agency StrawberryFrog has worked with Truist, the combined BB&T and SunTrust bank, on its rebranding. When Covid hit early in 2020, the team pivoted, launching a series of campaigns that spoke of hope and combined destiny, that together, we’ll make it through. StrawberryFrog’s CEO and founder Scott Goodson and head of strategy, Chip Walker join us on the podcast to take us behind the scenes of the Live United campaign, that combines Truist, the United Way, and youth poet laureate Amanda Gorman, who delivers an inspirational message at a time it was needed most. StrawberryFrog won Tearsheet’s Agency of the Year Award for 2021. Here’s my discussion with Scott and Chip.

Outlier Briefing: Frontify's MJ Mueller on creating the most valuable financial brands

zack.miller@gmail.com (Tearsheet Studios) — Tue, 02 Mar 2021 07:49:02 +0000

Welcome to Tearsheet’s Outlier Briefing. This subscriber-only content is exclusive for our Outlier members. We go deeper with subject matter experts, to take actionable steps that can impact your business and practice. With all the new entrants to banking and financial services, there’s a sea of sameness around certain parts of the industry. Branding can take a product surrounded by competition and really make it memorable. But to do that, everyone needs to be on the same page. Marketing, PR, product, sales — there’s a consistency great brands have that underlies everything they do. Today’s guest is MJ Mueller, CMO of Frontify. The Swiss software company provides a brand management platform, working with large financial brands all over the world to build powerful brand experiences. MJ discusses how top financial brands — whether they’re incumbents or digital-only — make remarkable impressions and why collaboration and consistency are so important. We talk about the challenges the pandemic has posed for top and emerging brands. Lastly, MJ touches on the future of branding in the financial space. To hear the full audio and to access all of our exclusive, member-only material, head on over to tearsheet.memberful.com/join

'Making the browser and a superior wallet work better, together': Opera's Krystian Kolondra

zack.miller@gmail.com (Tearsheet Studios) — Wed, 24 Feb 2021 08:05:22 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. A few years back, there was a race to embed payments into the browser. It makes sense, too. Most people who access the web through their computers use a browser to shop and bank. While the noise has died down, the Opera browser has continued to work on integrating financial services. Opera has 380 million users globally, with 50 million active European users. The firm is launching an app that gives its users cashback on purchases made through partner websites via the Opera browser. Users can also use the new app to open a current account and get a virtual debit card to shop online and off. The firm plans to offer savings, credit and investment opportunities in the future. Joining us on the podcast today is Krystian Kolondra, EVP Browsers & EEA Fintech at Opera.

Behind Marqeta's launch into credit card issuance with Kevin Doerr

zack.miller@gmail.com (Tearsheet Studios) — Mon, 22 Feb 2021 10:31:41 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller, Tearsheet’s editor in chief. A lot is going on the issuing side. New players are entering, competition is crossing borders, and existing players are expanding into new products. Marqeta is making perhaps the biggest expansion of its platform since it’s launched. I’m joined by Chief Product Officer Kevin Doerr to talk about the firm’s new credit card issuing platform. We talk about what that means for the firm, its customers, and its competition. Doerr joined the firm last year and it’s been a wild one — he shares his experiences that show a company in growth mode coping with the changes of organic expansion, as well as challenges of dealing with the pandemic. Kevin Doerr is my guest today on the Tearsheet Podcast.

Case Study: Inside Bank of Georgia's digital transformation

zack.miller@gmail.com (Tearsheet Studios) — Wed, 17 Feb 2021 06:20:08 +0000

In 2015, Bank of Georgia launched a mobile bank. Ever since, it’s been ramping up its digital transformation program. By all accounts, the bank is on to something -- it’s converting customers over to digital channels. Two years ago, Bank of Georgia began its journey toward agile development. It created crossfunctional teams to develop banking products and to design the digital channels The following was produced by Tearsheet Studio. We worked with fintech software provider Strands to create a visual and audio case study about Bank of Georgia's digital transformation.

'Tech is global but local payments determine who's a winner or loser': PPRO's Simon Black

zack.miller@gmail.com (Tearsheet Studios) — Sun, 14 Feb 2021 10:43:31 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Simon Black, PPRO’s CEO, is my guest today on the show. The company is off a big fundraising which comes after a 2020, where the local payment company doubled its Q4 transaction volumes year over year. PPRO has also grown its team 60% in the past 12 months, as it expands globally. Simon talks about what why payment companies are so focused on local payments and how his firm differentiates itself in an increasingly competitive market. Simon Black is my guest today on the Tearsheet Podcast.

'Workflow's calling is to rejoin the fragmented parts of an FI': ServiceNow's Lauren Robbins

zack.miller@gmail.com (Tearsheet Studios) — Thu, 11 Feb 2021 21:57:29 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. This past year acted as an external shock to financial customers and employees of FIs. As branches shut and employees turned to working from home, workflows were disrupted and redesigned. Enter ServiceNow — it’s a software company that serves digital workflows for enterprises. My guest on today’s podcast is Lauren Robbins, general manager of the firm’s financial services business. Her firm has hundreds of FIs as clients and she joins me to talk about how institutions’ expectations have changed during the pandemic. Lauren describes how financial institutions are working to ensure higher levels of customer service in this newly distributed form of work. Lauren Robbins is my guest today on the Tearsheet Podcast.

'We knew banking apps are the least deleted on people's phones': Sensibill's Corey Gross

zack.miller@gmail.com (Tearsheet Studios) — Thu, 11 Feb 2021 08:08:38 +0000

The world of personal financial management is undergoing a change. Stand alone applications are incorporating more banking functionality, getting into money movement and not just advice to have a bigger impact. Banks and financial institutions are being more thoughtful about launching their own tools to help their customers. That’s where Sensibill comes in. It works with firms like JPMorgan Chase to much smaller institutions to help their customers make sense of their finances. Using SKU-level data, Sensibill is also helping the institutions themselves understand their customers better. The firm just launched the Sensibill Platform. Sensibill CEO and co-founder Corey Gross is my guest today on the podcast.

Behind the launch of Craft Bank, the first de novo in Atlanta in over a decade

zack.miller@gmail.com (Tearsheet Studios) — Sun, 07 Feb 2021 10:35:35 +0000

Craft Bank is the first de novo inside the Atlanta perimeter in over a decade. The bank offers a fully digital experience including faster payments and lending in addition to personal relationships. Craft launched in October of 2020 and I caught up with Ross Mynatt, president and CEO of Craft Bank, to talk about his firm’s process developing tools and experiences for today’s customers. Joining us on the podcast is Stacey Zengel, senior vice president of Jack Henry & Associates and president of Jack Henry Banking. 42% of de novos opening for business over the past four years were Jack Henry clients and Stacey shares his views on what it takes to build a modern bank from scratch and launch effectively.

Behind Klarna's massive growth in the US with David Sykes

zack.miller@gmail.com (Tearsheet Studios) — Wed, 03 Feb 2021 18:05:24 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Klarna is such an interesting company as part of our coverage universe. As one of the major buy now, pay later competitors, the firm is gearing up to IPO after hitting 15 million customers in the U.S., more than doubling over a year ago. But the company’s vision is way broader. Today’s guest is Klarna’s David Sykes, the firm’s president of North America. Pay attention to how David describes Klarna’s positioning as a financial services firm supporting its customers shopping experiences — that flows through to banking and payments, but also to shipping and returns. I think Klarna wants to be the bank of shopping. David Sykes is my guest today on the Tearsheet Podcast.

'It's been an opportunity to pivot to our work from home, yoga pants world': Slack's Ali Rayl

zack.miller@gmail.com (Tearsheet Studios) — Mon, 01 Feb 2021 07:47:12 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. It’s not just banking products that bear the fruit of new technology. Banks and other financial institutions are using popular tools like communications platform Slack to collaborate more efficiently internally and in increasing numbers to communicate with customers. Slack works with financial services organizations like TD Ameritrade, HSBC, Intuit and WealthSimple. Slacks’ vice president of customer experience Ali Rayl joins us on the podcast to talk about how leading financial firms are using tools like Slack to develop a new digital workplace — one that allows employees to access information and software tools anytime and anywhere, with Slack as the central hub. Slack’s Ali Rayl is my guest today on the Tearsheet Podcast.

'It's very hard to find a company that does everything under one roof': Checkout.com's Bradley Riss

zack.miller@gmail.com (Tearsheet Studios) — Thu, 28 Jan 2021 07:49:39 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. On the heels of a $450 million investment round at a $15 billion valuation, Checkout.com (http://checkout.com/) became Europe’s most valuable venture-backed business and fourth largest fintech globally. Bradley Riss, the firm’s chief commercial officer, joins me on the podcast today to talk about the excitement around his firm’s cloud-based payments technology that tripled its processing volume in 2020, adding 500 new enterprise customers including Coinbase, Pizza Hut, H&M, and Klarna. In the U.S., the firm has opened an NYC and Denver office to meet growing demand for enterprise payment solutions. Tearsheet's Acquire Conference brings together marketers from top firms like Goldman Sachs, Schwab, Shopify, Square, N26 and more to talk about growing today's leading financial brands. Join us. Get your tickets here: https://ti.to/tearsheet/tearsheet-acquire-conference-2021 Bradley Riss is my guest today on the Tearsheet Podcast.

Behind the launch of Citizens Pay with Eric Schuppenhauer

zack.miller@gmail.com (Tearsheet Studios) — Wed, 27 Jan 2021 09:29:17 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet Editor in Chief, Zack Miller. With the excitement around buy now, pay later, Citizens stands out among a small number of banks with an offering in the space. The firm has been providing point of sale financing since 2016 and has issued over $6 billion to more than 5 million accounts. Citizens Pay is expanding in the U.S. through more partnerships with merchants in new verticals like health and fitness retailers and home contractors. I’m joined on the podcast today by Eric Schuppenhauer, Citizen’s president of consumer lending and national banking. He shares some more insight on Citizens Pay and how the bank is positioned in the space. We discuss trends in the industry and what’s propelling consumers and businesses to adopt this form of payment. Lastly, Eric delves into his expansion strategy for the firm and the bank’s plans to further embed its services into its partners’ businesses in the future. Eric Schuppenhauer is my guest today on the Tearsheet Podcast.

Quantum computing in financial services with Goldman Sachs' Will Zeng and IBM's Stefan Woerner

zack.miller@gmail.com (Tearsheet Studios) — Thu, 21 Jan 2021 10:20:45 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. It isn’t often that I’m totally out of my league on this show. Our two guests today are scientists focused on quantum computing. IBM's Stefan Woerner & Goldman Sachs' Will Zeng join me on the podcast to discuss some of recent findings they've made in quantum computing's ability to address derivative pricing. While I clumsily navigated my way through the interview, Stefan and Will did a great job explaining why they are so excited about quantum computing's application in financial services and how it will change the rules of the game. And they did it in a way we all can understand. They're making big strides in bringing this technology to market and even though we're still a few years away, a financial ecosystem is already growing up around this massive shift in technology. Hope you enjoy my discussion with IBM's Stefan Woerner & Goldman Sachs' Will Zeng

'Stickiness to old products necessitates new asset management firms': Arca's Rayne Steinberg

zack.miller@gmail.com (Tearsheet Studios) — Tue, 19 Jan 2021 07:04:01 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. It’s hard to differentiate between the hype around digital assets and what’s fundamentally changing. Our guest on the podcast today has a foot in both worlds. Rayne Steinberg is co-founder of Arca, a digital asset manager. He was also a co-founder of WisdomTree, a pioneer in the ETF industry. Arca is an institutional grade financial services firm investing in digital assets, as well as building products utilizing blockchain — the firm launched The Arca U.S. Treasury Fund, a closed-end registered fund issuing shares as digital securities that are transferable using blockchain technology. We talk about Steinberg’s journey from running an upstart fund manager in ETFs to the new world of digital assets and how the two experiences parallel and where they diverge. We talk about what institutional and retail investors need when it comes to crypto and where the opportunities are to serve them. Rayne Steinberg is my guest today on the Tearsheet Podcast.

'Early investors didn't get going global': Rapyd's CEO Arik Shtilman on growing 4x in 2020

zack.miller@gmail.com (Tearsheet Studios) — Wed, 13 Jan 2021 12:00:27 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet Editor in Chief, Zack Miller. Rapyd is a embedded finance platform that has gone global from day 1. The company is expanding rapidly. Joining me on the podcast is co-founder and CEO Arik Shtilman who shares exactly how quickly the firm has been growing and the news that the company has closed a $300 million investment round with its eye on an eventual IPO. Arik Shtilman is my guest today on the Tearsheet Podcast.

Agora's Arcady Lapiro on launching a new banking as a service platform

zack.miller@gmail.com (Tearsheet Studios) — Mon, 11 Jan 2021 10:38:34 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. With all the talk about challenger banks and mega banks, tier 2 financial institutions like community banks and credit unions frequently get lost in the conversation. My guest today on the show is Arcadi Lapiro. His experience building first generation challenger banks has molded his worldview on the banking industry. Now, he’s back with Agora (https://agoraservices.us/), a banking as a service platform targeting tier 2 banks and credit unions. Lapiro joins me on the podcast to discuss the opportunities and challenges for smaller banking institutions facing competition from mega banks and new upstarts. We talk about Agora and why he built a platforms starting with 2 embedded services: SMB banking and teen banking. Arcady Lapiro is my guest today on the Tearsheet Podcast.

'There are 400M people in Africa that don't have formal credit files': Pngme's Brendan Playford

zack.miller@gmail.com (Tearsheet Studios) — Sun, 03 Jan 2021 13:50:09 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. 2020 was an interesting year for African financial services. We saw Stripe buy Nigeria’s Paystack, its largest acquisition anywhere, and other firms raise significant venture capital. Pngme is one of the firms contributing to the next stage of growth on the continent. Brendan Playford is founder and CEO of the firm which offers a unified financial data API for Africa. As financial services mature, the various platforms, networks and institutional ecosystems need a way to standardize and share their customers’ financial data. Brendan joins us on the podcast to talk about African fintech and what’s been happening there of late. We talk about where the opportunities are and where the market may head over the next few years. Lastly, we drill down into Pngme’s product offering, strategy, and expansion plans. Brendan Playford is my guest today on the Tearsheet Podcast.

The ins and outs of payment operations with Modern Treasury's Dimitri Dadiomov

zack.miller@gmail.com (Tearsheet Studios) — Mon, 28 Dec 2020 16:39:27 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. As a fintech entrepreneur, I co-founded OurCrowd, one of the largest equity crowdfunding platforms in the world. Our back office was always hard to get our hands around. Money in and money out and the timing of that money in motion took a lot of time and effort to manage effectively. Payment flows and tools to integrate have come a long way since we started that business in 2012. Dimiti Dadiomov is co-founder and CEO of Modern Treasury. His firm is a payment operations platform and works with firms to build and manage their money movement without taking hold of the payments. It’s the tech in fintech. Dimitri joins us on the podcast to talk about his firm’s genesis story and the market for payment operations. His firm’s APIs provide workable connections to banks to help with tracking money movement and reconciliation. Dimitri Dadiomov is my guest today on the Tearsheet Podcast.

'With a $4 billion budget, we can do quite a bit around legacy technology': Chase's CIO, Rohan Amin

zack.miller@gmail.com (Tearsheet Studios) — Tue, 22 Dec 2020 12:47:37 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor-in-chief, Zack Miller. So much time and money is spent on maintaining technology within incumbent organizations. Instead of calling this tension “technology debt” or even “legacy technology”, JPMorgan Chase CIO for consumer and community banking Rohan Amin likes to call it heritage tech. I like that description as it gives room for the ongoing investment in the tech stack but also in customers and the brand. Rohan joins us on the podcast to discuss his mandate as CIO of the largest US bank with a tech budget of $4 billion and over 12,000 technologists globally. We talk about the balance between maintenance and building and creating new products. He discusses how the pandemic affected the businesses he and his team support. We talk about the bank’s approach to accessibility and APIs. Lastly, Rohan talks about his biggest priorities for 2021 and beyond. Chief information officer for consumer & community banking at JPMorgan Chase, Rohan Amin is my guest today on the Tearsheet Podcast.

'Freelancers need a business and personal account under one roof': Oxygen's Hussein Ahmed

zack.miller@gmail.com (Tearsheet Studios) — Mon, 21 Dec 2020 06:18:20 +0000

As more challenger banks launch, we’re seeing the emergence of more and more niche offerings, serving a subset of users with distinct needs. Oxygen Bank, a challenger based in San Francisco, recognized that freelancers aren’t being served well. These people don’t identify as businesses and yet they are in business. Founder and CEO of Oxygen (https://oxygen.us/), Hussein Ahmed is one of the hardest working fintech CEOs. He joins us on the podcast to talk about why Osygen essentially merged a business account with a personal account to serve this demographic. He talks about building and scaling a startup using talent across geographic boundaries and what his plans are next for the upstart banking product. Hussein Ahmed is my guest today on the Tearsheet Podcast.

'We see a lot of whitespace in credit cards for near prime customers': Avant's James Paris

zack.miller@gmail.com (Tearsheet Studios) — Sun, 20 Dec 2020 13:46:08 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. At nearly eight years old, Avant is one of the pioneers in online lending. It has expanded its product set over the years to include banking functions for middle income consumers. James Paris is the CEO of Avant and joins us on the podcast to talk about the growth of the company and the opportunities it has to fill a market gap serving its demographic. James previously led the firm’s creation of the Amount technology platform, which as a B2B lending technology platform, was spun off earlier this year. James Paris is my guest today on the Tearsheet Podcast.

Inside Interactive Brokers' embrace of ESG-friendly investing

zack.miller@gmail.com (Tearsheet Studios) — Thu, 17 Dec 2020 05:43:46 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller, Tearsheet’s editor in chief. On today’s podcast, I’m joined by Will Peterffy and Eddy Soffer of Interactive Brokers. Will, son of Interactive Brokers’ founder, is a new board member of the online brokerage and its ESG Ambassador. Interactive Brokers recently rolled out a portfolio scorecard that grades equity portfolios along several dimensions, like reducing emissions and human rights. The pair join us on the podcast to discuss the new initiative and what customers are asking for when it comes to investing responsibly. We also talk about where this environmental, social, and governance initiative is headed from a product perspective and across the industry.

Santander's Patrick Smith on the state of SMB banking in the U.S.

zack.miller@gmail.com (Tearsheet Studios) — Wed, 16 Dec 2020 08:54:29 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Small businesses have a lot to contend with. In addition to the everyday battle around cash flow, many SMBs had to quickly change their business models and payment capabilities during the pandemic. Patrick Smith, the head of small business banking at Santander, joins me on the podcast to talk about Santander’s approach to advice. We discuss the banks evolving products and services aimed at SMBs. Lastly, we delve into the role digital plays in SMB banking in terms of experience and delivery. Patrick Smith is my guest today on the Tearsheet Podcast.

Finastra's Paul Thomalla on the competitiveness of small banks in payments

zack.miller@gmail.com (Tearsheet Studios) — Tue, 15 Dec 2020 09:04:53 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Banks are hearing from their customers that they want better experiences — better experiences in banking, borrowing and in payments. Joining me today on the podcast is Finastra’s global head of payments, Paul Thomalla. The banking software provider recently launched a new product that makes it easier and quick for mid and small-tier banks in Europe participate in real time payments. Paul describes how smaller banks can maintain a competitive edge in payments. Paul Thomalla is my guest today on the Tearsheet Podcast.

'A network problem needs a network answer': Akoya's Stuart Rubinstein

zack.miller@gmail.com (Tearsheet Studios) — Sun, 13 Dec 2020 21:02:23 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. My guest today is Stuart Rubinstein, CEO of Akoya. A spin out of Fidelity, Akoya is a financial data aggregator that lets the customers of financial institutions grant and revoke third party access to their financial data safely. Akoya facilitates this access and eliminates the need for consumers to share their user IDs and passwords. Stuart talks about Akoya’s roots and how he’s been thinking about data aggregation for years. He discusses the need for APIs, to move beyond the era of screen scraping. Rubinstein also shares his view of open finance and Akoya’s future. Stuart Rubinstein is my guest on the Tearsheet Podcast.

Clickatell's Pieter de Villiers on the future of chat banking

zack.miller@gmail.com (Tearsheet Studios) — Fri, 11 Dec 2020 08:34:27 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. As chat platforms have eclipsed the size of the largest social networks, businesses are increasingly using them to service their customers. Some financial institutions are even enabled for customers to transact over chat. Pieter de Villiers, co-founder and CEO of Clickatell, joins me on the podcast to talk about his vision 20 years ago for mobile experiences. Now the firm covers more than 220 territories, 1000 networks, and 85% of the world’s population, with an SMS reach of more than 5 billion users. Pieter and I talk about banks embracing chat apps, like WhatsApp, to reach their customers. With chat banking, customers can get digital banking customer support, account management, and bill payment services from within chat. Pieter de Villiers is my guest today on the Tearsheet podcast.

The rising importance of payroll data with Plaid's Ben White

zack.miller@gmail.com (Tearsheet Studios) — Mon, 07 Dec 2020 08:23:59 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. The first era of next generation financial companies focused on the bank account as the store of information and value for consumers’ and business’ financial lives. That’s changing, as fintechs and data aggregators go deeper into payroll data and payments. The topic is becoming more urgent since the PPP rollout earlier this year. Ben White from Plaid's policy team has recently authored a report on the value of payroll data and he joins me on the podcast to discuss what payroll data access is, why it matters, and the opportunity it presents for future fintech innovation. A link to the whitepaper is included in our article on our website. Ben White is my guest today on the Tearsheet Podcast.

Conductor sees big opportunity in Latin America for payments and banking as a service

zack.miller@gmail.com (Tearsheet Studios) — Thu, 03 Dec 2020 06:51:23 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Embedded finance is powering the launch of all kinds of new companies and products around the world. Brazil-based Conductor is a digital banking and payment platform. It processes 1 billion payment transactions annually, totalling over $20 billion in payment volume and serves over 250 clients with more than 85 million cards. The company is expanding throughout Latin America and just raised a $150 million investment round. Chief Strategy Officer Marcelo Jacques joins me on the podcast to discuss the company’s expansion plans throughout the region, including how it will compete against foreign embedded finance platforms entering Latin America.

'How to build a credit card product like a Lego rocketship': Railsbank's Dov Marmor

zack.miller@gmail.com (Tearsheet Studios) — Mon, 30 Nov 2020 11:11:08 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Embedded Finance is becoming more competitive. New platforms are launching and existing platforms are expanding into new products and geographies. My guest today has seen it all. Dov Marmor has helped build some of the leaders in banking as a service, including Currencycloud, Green Dot, and now Railsbank. Railsbank’s chief operating officer for North America, Dov Marmor joins me on the podcast to talk about the embedded finance field — where the market is headed and who’s best positioned to take more marketshare. Railsbank is launching in the U.S. with its credit cards as a service solution to both fintech and brand customers. Dov Marmor is my guest today on the Tearsheet Podcast.

'Combining our customer-first focus and local brand': Seattle Bank's partnership with Google

zack.miller@gmail.com (Tearsheet Studios) — Wed, 25 Nov 2020 11:36:45 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. We’ve been talking for a long time about big tech’s move into finance. We’ve seen Apple’s launch of a credit card, Amazon and Shopify’s lending to merchants, and Facebook move deeper into payments on its messaging apps. News hit this week that gave us more insight into Google’s moves in banking. The company is launching Plex accounts, smarter and simpler bank accounts within a redesgined Google Pay app. Google isn’t becoming a bank — these accounts are launched in collaboration with chartered banks, like Citi and BBVA. Seattle Bank also landed a partnership with Google. The sub-$1 billion community bank in the pacific northwest will also work with Google to launch a Plex account. I spoke with John Blizzard, Seattle Bank’s president and CEO about the move and what it means for the community bank. We discuss if other small firms can and will replicate these types of partnerships with big tech. John shares his vision for the future of small banks and technology. John Blizzard is my guest today on the Tearsheet Podcast.

Building the Marcus brand: Goldman’s 2021 vision for its consumer banking product

zack.miller@gmail.com (Tearsheet Studios) — Mon, 23 Nov 2020 14:41:22 +0000

The acceleration of digital banking that took hold during the pandemic allowed for continued adoption of Goldman Sachs’s consumer banking product suite. Marcus by Goldman Sachs, which launched four years ago, had $96 billion in deposits as of the third quarter of 2020. With personal loans, savings accounts, and Marcus Insights, its personal finance analysis tool, Goldman is building a comprehensive product suite. The bank has fully integrated the capabilities of the Clarity Money app, which it acquired in 2018. “The long-term objective of what we're setting ourselves to do in consumer is to create a complete business that has a very robust platform on which millions of consumers will be able to control their financial destiny either through their own balance sheet or cash flow,” said Stephen Scherr, chief financial officer at Goldman Sachs, speaking at the Bank of America Merrill Lynch Future of Financials Conference this month. “Our ambition is to grow out the product set that's there, including in 2021, seeing checking and a wealth module to again grow out that platform in a more profound way.” On today’s podcast, we speak with Melissa Manne, who is vice president and head of product at Marcus Digital Storefront. She was previously vice president of product management at Clarity Money and director of software product management at American Express. Manne reflects on her journey from Clarity Money to Marcus by Goldman Sachs and the next steps for Marcus.

'More and more, we think about being a B2B2C player': Experian's Gregory Wright

zack.miller@gmail.com (Tearsheet Studios) — Wed, 18 Nov 2020 13:09:25 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Today’s guest on the podcast is Experian’s Chief Product Officer, Gregory Wright. Listening to Greg, you get a feeling for how the role of credit bureau is changing — to the point of even who they serve is evolving. We discuss fintech trends, like cloud, APIs and alt data, and how they’re impacting Experian’s ecosystem. Greg shares his thoughts on expanding credit to more people and how the credit score is changing with the times. Gregory Wright is my guest today on the Tearsheet Podcast.

Case Study: HSBC'S transformation as a bank for small business

zack.miller@gmail.com (Tearsheet Studios) — Thu, 12 Nov 2020 14:06:52 +0000

The past few years have shown that business banking customers no longer have to wait days or weeks to apply and receive loans to open bank accounts and transact. Many new options are being offered by fintech firms that don’t have to deal with large legacy technology stacks and legacy thinking. This frees them up to focus on servicing small business needs and delivering good banking experiences. Large incumbent banks don’t have this luxury. HSBC Kinetic is a bold move by the 6th largest bank in the world. It’s an app-only digital bank servicing small businesses, but for the financial institution established in the 1860s, it’s much more than that. With Kinetic, HSBC is building experience in agile development environments, in the cloud, and with a branchless app that offers automated onboarding, in-app overdrafts, a controllable debit card and a range of personal financial management budgeting and cashflow tools. The following was produced by Tearsheet Studio. We worked with fintech software provider Strands to create a visual and audio case study about HSBC’s transformation as a bank for small businesses.

Step's CJ MacDonald on building a bank for teens

zack.miller@gmail.com (Tearsheet Studios) — Sun, 08 Nov 2020 11:13:00 +0000

Welcome to the Tearsheet Podcast. I’m editor in chief, Zack Miller. There’s a flurry of activity around creating bank accounts for young people. Getting the balance between autonomy and parental oversight is critical for teens and Step feels like it’s found the sweet spot. Joining me on the podcast is CJ MacDonald, founder and CEO of Step. CJ was the co-founder of gyft, a startup targeting the massive gift card market and was acquired by First Data. He’s come back to fintech with Step, a bank targeting teens and their parents. We talk about what teens are looking for from a bank and the challenges around servicing them. We discuss the product, CJ’s philosophy around monetizing teens, and Step’s acquisition channels. CJ MacDonald is my guest today on the Tearsheet Podcast.

'The migration to platforms is the gateway to growth for banks': Publicis Sapient's David Donovan

zack.miller@gmail.com (Tearsheet Studios) — Mon, 02 Nov 2020 18:50:48 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Today’s guest is David Donovan, executive vice president at Publicis Sapient. He leads the firm’s North American financial services practice. Publicis Sapient is a domain-lead digital consultancy. It works with many of the major banks and that gives David a good view into what’s going on strategically and operationally on the ground in banking. David shares how he sees bank adoption of embedded finance and platforms as a critical growth avenue in the future. Large money centers can take a page out of big technology’s playbook. Consumers want their favorite brands to be connected. With all the data and services they offer, banks have the opportunity to create an invisible fabric around their customers, helping them feel that their bank is their personal CFO and there for them throughout their financial lives. Publicis Sapient is a sponsor of Tearsheet’s upcoming Embedded Conference. Join us — go to Tearsheet.co and click on Events at the top. Here’s my discussion with David Donovan.

'There were other great services, but banking was kind of static': Mercury's Immad Akhund

zack.miller@gmail.com (Tearsheet Studios) — Mon, 02 Nov 2020 10:25:04 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet Editor in Chief, Zack Miller. As a founder of a tech startup, Immad Akhund found that the banks his firm used were all lost in the sea of mediocrity and sameness. He was surrounded by services in other parts of his business that were fresh, fast and worked well. His frustration with banking led him to found and lead Mercury, a bank for startups. The company has a lot of big Silicon Valley names as angel investors — people like Andreesen Horowitz, Plaid’s Zach Perret, Allison Barr from Uber Money, Bill Clerico at WePay, and Roger Smith, founder of Silicon Valley Bank. Mercury provides API access to its services that include virtual cards, team management, and business analytics on top of an FDIC-insured bank account. Immad Amkhund is our guest today on the Tearsheet Podcast.

'Nobody needs to go into a server room to reboot a server anymore': Temenos' Alexa Guenoun

zack.miller@gmail.com (Tearsheet Studios) — Wed, 28 Oct 2020 11:34:28 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. There’s been a lot of talk about Varo, the first US challenger bank to receive a national charter. The bank has rebuilt its technology off its partner bank and is transitioning over its customers to its new technology stack. To do that, it turned to Temenos, the modern core banking software provider. Alexa Guenoun is the firm’s President of the Americas and Global Head of Partners. She joins us on the podcast to discuss Temenos’ investment in the Americas. The company has 1300 banks and financial institutions as clients, representing a billion dollar market for the firm, accounting for 25% of global revenues. We talk about digital transformation and how the pandemic has impacted banking roadmaps. We explore the concept of an incumbent creating a bank on the side as a real step forward to replacing the core and moving ahead in the digital era. Alexa Guenoun is my guest today on the Tearsheet Podcast.

'Challengers are only interested in direct deposit now': ClickSwitch's Cale Johnston

zack.miller@gmail.com (Tearsheet Studios) — Mon, 26 Oct 2020 14:54:21 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. As challenger banks battle over getting new customers, the discussion has moved over the big headline numbers to the quality of those new customers. More specifically, digital banks — but really all banks — are being judged on whether these new account openings turn into customers, whether these new users turn to the bank as their primary financial institution. ClickSwitch helps some of the biggest challenger banks and many traditional banks convert more account openings into new customers. Its technology helps new users easily switch over their direct deposits and bill pay to their new banking relationship. ClickSwitch founder and CEO Cale Johnston joins me on the Tearsheet Podcast.

'In our model, everyone wins': Plastiq users can use cards at businesses that don't accept them

zack.miller@gmail.com (Tearsheet Studios) — Mon, 26 Oct 2020 10:02:18 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Eliot Buchanan dreamed up the idea of Plastiq seven years ago as an undergrad. A Canadian in the U.S., he got frustrated by how hard it was to transact paying for his tuition. His firm Plastiq enables individuals and businesses to pay for virtually any expense with a credit card — even if a merchant doesn’t take cards. Since then, the firm has serviced over 1 million consumers and businesses and processed as of last year. Buchanan joins us today on the Tearsheet Podcast. He has big ideas for the firm and we talk about the pain points of making a large transaction and how Plastiq addresses them. We talk about other products in the pipeline and where the firm is headed in the future. Eliot Buchanan is my guest on the Tearsheet Podcast.

Inside the Techstars and Western Union Accelerator

zack.miller@gmail.com (Tearsheet Studios) — Thu, 22 Oct 2020 05:17:00 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. When Western Union formally began building out its connection to the fintech community, it partnered with Techstars, a well-respected accelerator in Boulder, Colorado. The Techstars and Western Union Accelerator (https://www.techstars.com/accelerators/western-union) focuses on startups looking to shape the future of how money moves, from artificial intelligence and machine learning to crypto and blockchain. Joining me on the podcast today are two leaders of the program: Tyler McPherson-Wiman is the global vp of corporate strategy and development at Western Union and Elle Bruno is managing director for the Techstars and Western Union Accelerator. We discuss the decision behind launching an accelerator and the nature of the Western Union and Techstars partnership. We dive into the role the accelerator plays in Western Union’s innovation program and how both partners measure the success of the program. Let’s go.

'Adding Betterment, we're targeting 200M Powered By customers by end of 2021': Dosh's Ryan Wuerch

zack.miller@gmail.com (Tearsheet Studios) — Tue, 20 Oct 2020 15:47:37 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. As challenger banks expand their capabilities, many with debit and credit cards are adding in rewards as a way to service their customers. Dosh gives millions of users cash back when they shop at top retailers that are using cash back as an acquisition tool. Dosh recently announced a major expansion of“Powered by Dosh,” (https://www.prnewswire.com/news-releases/leading-fintech-companies-tap-dosh-platform-for-industry-leading-cash-back-offers-301110469.html) with Venmo and Jelli as its first official partners. Now with Dosh, any financial service company can now provide automatic, instant, card-linked cash back experiences for their users. The fintech firm has just partnered with Betterment. With Dosh’s cash back experience fully integrated into their Betterment Debit Card, Betterment can offer Checking users a seamless rewards program with great offers from thousands of merchants. Powered by Dosh will provide Betterment Checking customers with the ability to browse available deals, where they’ll frictionlessly earn cash back. Dosh CEO Ryan Wuerch joins me on the podcast to talk about the deal with Betterment and Dosh’s positioning as an embedded finance tool.

Diebold Nixdorf's Simon Powley on the integration of physical currency and digital tools

zack.miller@gmail.com (Tearsheet Studios) — Mon, 19 Oct 2020 07:45:00 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. As we’ve discussed many times on the podcast, the pandemic has accelerated a lot of digital trends that were already underway before COVID-19 hit. There’s been a big push away from cash and towards contactless but major US cities are pushing back on cashless retailers. So, where will all this lead? Diebold Nixdorf’s Simon Powley joins me on the podcast to discuss integrating physical currency and digital tools. Drilling down, we look at the durability of cash and ATMs as a banking channel. Powley shares insights from his work with major banking institutions around the US about the future of cash and banking, in general. Simon Powley is my guest today on the Tearsheet Podcast.

'Voice reduces the steps to do the things you want to do': Clinc's Jon Newhard

zack.miller@gmail.com (Tearsheet Studios) — Fri, 16 Oct 2020 04:53:32 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. Eighteen months ago, there was a lot of talk around voice and the possibilities of using human speech as a new automated channel in financial services. There’s less talk now but the technology continues to improve. Today’s guest on the podcast is Clinc’s Jon Newhard. He’s been around technology a lot for the past 25 years and as Clinc’s newly appointed CEO, he’s juiced at the opportunity to be able to understand unstructured speech and interpret the underlying meaning of customer support inquiries. Clinc provides its customers – primarily banks and financial institutions – with the tools needed to improve their customer support services. Jon Newhard is my guest today on the Tearsheet Podcast.

PPRO's Steve Villegas on how COVID is impacting local payment behavior

zack.miller@gmail.com (Tearsheet Studios) — Mon, 12 Oct 2020 08:03:28 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller, Tearsheet’s editor in chief. Today’s guest is Steve Villegas, vp of payment partnerships in North America for PPRO. He works with acquirers and payment service providers to give them a single integration to offer a variety of local payment options to their customers. We explore a recent whitepaper PPRO published about how COVID has impacted consumer spending around the globes and disrupted payments particularly in cross border markets. We also discuss how the needs of the various players — from merchants to consumers — have changed during this period. Steve Villegas is my guest today on the Tearsheet Podcast.

'Design a good CX for subscriptions and the revenue will pour in': Ingenico's Andrew Monroe

zack.miller@gmail.com (Tearsheet Studios) — Sun, 11 Oct 2020 11:11:52 +0000

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. Many people know Ingenico as a manufacturer of payment terminals. Over years, the company has acquired firms in the digital payment processing space. Our guest on the podcast today, Andrew Monroe, runs the epayments division in North America, helping large multinational merchants accept payments from consumers across the world. Through his decade at Ingenico, Andrew has seen a lot of payment trends. In our discussion, we talk about the growth of subscription payment models and how firms can effectively implement them. We discuss how to effectively implement data strategies around optimizing conversions online. Andrew shares how firms can enter best new markets with digital payments and services. Andrew Monroe is my guest today on the Tearsheet Podcast.

'Banking enables us to play a bigger role in our customers' lives': Stash CEO Brandon Krieg

zack.miller@gmail.com (Tearsheet Studios) — Thu, 08 Oct 2020 06:34:04 +0000

Welcome to the Tearsheet Podcast. I’m editor in chief, Zack Miller. Challenger bank Stash is rooted in helping most Americans invest and build wealth, $5 at a time. The company has grown a lot this year. Co-founder and CEO Brandon Krieg joins me on the podcast to update the firm’s growth metrics. Stash recently won Tearsheet’s Challenger Bank Award for Best Card Product for its Stock Back Card, which rewards cardholders with fractional shares of companies they shop at. We talk about the growth opportunities for the firm and its decision early on to monetize its accounts via a subscription fee. Lastly, we discuss Stash’s relationship with Green Dot, its banking as a service provider, and what’s important to get right in those types of partnerships. Brandon Krieg is our guest today on the Tearsheet Podcast.

BlueVine's new CMO Patrick Adams on the potential of getting SMB banking right

zack.miller@gmail.com (Tearsheet Studios) — Wed, 07 Oct 2020 05:56:40 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. BlueVine’s roots are in digital lending to small businesses. Beginning with a factoring product, the company moved into lines of credit. And when PPP rolled out at the beginning of the pandemic, the company ended up helping 155,000 SMBs receive over $4.5 billion in assistance. As the company has matured, it’s also introduced business banking. Freshly appointed chief marketing officer, Patrick Adams joins us on the podcast today to talk about BlueVine’s trajectory into banking. Adams was most recently the head of US marketing at PayPal after stints running marketing at Victoria’s Secret and BMG. He is juiced on the potential the firm has to go deeper into solving the pain points in SMB banking and we talk about his plans to grow and expand the business. Patrick Adams is my guest today on the Tearsheet Podcast.

Outlier Briefing: Best practices in digital onboarding with Ted Brown

zack.miller@gmail.com (Tearsheet Studios) — Wed, 30 Sep 2020 08:53:44 +0000

Welcome to Tearsheet’s Outlier Briefing. This subscriber-only event is exclusive for our Outlier members. We go deeper with subject matter experts, to take actionable steps that can impact your business and practice. Today’s expert is Ted Brown. He’s co-founder and CEO of a company called Digital Onboarding. He’s been in fintech for his entire career. His first company, Andera, built the first way to open up a bank account online. Now, his firm Digital Onboarding makes sure those people who opened up accounts become engaged, profitable relationships. During this Outlier Briefing, we discuss: why attrition rates of new customers are so stubbornly high in banking what typical onboarding experiences are like at banks and credit unions and why they fail what top FIs are doing to improve onboarding rates how onboarding is evolving and the role of technology to create engaged clients Digital Onboarding’s Ted Brown is our expert on today’s Outlier Briefing. To hear the full audio and to access all of our exclusive, member-only material, head on over to Tearsheet.co/outlier

Inside the FIS fintech accelerator

zack.miller@gmail.com (Tearsheet Studios) — Mon, 21 Sep 2020 05:59:46 +0000

FIS accelerator/Stratyfy Welcome to the Tearsheet Podcast. I’m Tearsheet editor Zack Miller. We’ve spoken to a lot of innovation program execs on this podcast. From corporate venture investing to accelerator programs, traditional FIs, in various ways, are trying to leverage the innovation that’s happening in fintech. This hasn’t been lost on the providers, either. FIS runs its own accelerator that works gets early-stage fintech firms in front of its clients to help solve their problems. FIS Banking Product Officer Spencer Jones joins me on the podcast along with Laura Kornhauser, CEO and founder of Stratyfy, a fintech company in the current cohort at the accelerator that develops AI-driven predictive-modeling software for FIs.

Payoneer's Charles Rosenblatt: 'We found a way to play on both sides of the market'

zack.miller@gmail.com (Tearsheet Studios) — Sun, 13 Sep 2020 12:14:01 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller, editor at Tearsheet. There’s still significant friction dealing with international transactions. Payoneer is a pioneer in the space of helping people and businesses transact across currencies. Charles Rosenblatt is the firm’s new chief strategy officer. An executive with decades of experience in payments and financial services, Rosenblatt joins us on the podcast to talk about his new role and how Payoneer is positioned for further growth. He describes how the firm’s value proposition is differentiated from the competition and how sitting on both sides of the transaction can propel future opportunities for the payments firm. Charles Rosenblatt is my guest on the Tearsheet Podcast.

Inside Shopify’s financial services strategy

zack.miller@gmail.com (Tearsheet Studios) — Fri, 11 Sep 2020 05:43:41 +0000

The convergence of retail and financial services is being led by large platforms that help merchants seamlessly reach customers online and offline. Indeed, embedding financial services within commerce platforms helps them unlock additional value from seller relationships, and provides a repository of data to personalize product offerings. A major player in this ecosystem is Shopify, a Canada-based company that helps more than a million merchants operate digitally and in-person. On today’s Tearsheet podcast, we speak with Kaz Nejatian, vice president and general manager of Shopify Financial Solutions. Shopify, a 14-year-old company that has a market capitalization of more than $100 billion, began making forays into financial services in 2013, with the launch of Shopify Point of Sale. Three years later, it rolled out Shopify Capital for sellers. The company in recent months made a couple of noteworthy financial product announcements, including the upcoming launch of Shopify Balance, a money management solution for sellers; and a buy-now-pay-later option for consumers in partnership with point-of-sale lender Affirm. Nejatian discusses Shopify’s financial product roadmap and how its embedded financial solutions connect to the company’s broader seller toolkit. A lawyer by training, Nejatian previously worked in private practice; the Canadian government; Facebook, and founded and successfully exited payments startup Kash.

Outlier Briefing: Infosys' Jay Nair on preparing for the day after the pandemic

zack.miller@gmail.com (Tearsheet Studios) — Tue, 08 Sep 2020 18:37:44 +0000

Welcome to Tearsheet’s Outlier Briefing. This subscriber-only event is exclusive for our Outlier members. We go deeper with subject matter experts, to take actionable steps that can impact your business and practice. Today’s guest is Jay Nair, who leads the financial services business for Infosys in the Americas. He’s responsible for one of the largest units in the company with annual revenues of around $800 million. Jay works increasingly with client CXOs to help them with their transformation journeys. He shares his experiences working with banks, insurance companies, and capital market firms to prepare for the reopening of the physical component of financial services as we think about the day after the pandemic. Jay gives his thoughts on open banking and what he calls the APIfication of financial services. With Infosys’ work across different verticals within financial services, he provides his views on the future of financial services. Here’s our Outlier briefing on financial services the day after the crisis with Jay Nair. To hear the full audio and to access all of our exclusive, member-only material, head on over to Tearsheet.co/outlier

Zest AI's Mike de Vere: 'You don't have to give up economics to be more fair'

zack.miller@gmail.com (Tearsheet Studios) — Tue, 08 Sep 2020 06:16:51 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. When the pandemic hit, lending models didn’t catch up quickly enough. Machine learning, like the kind Zest AI has developed, moved quicker, helping lenders to figure out how quickly things were deteriorating and where. ML models also have been instrumental in identifying and avoiding biases in lending practices. Zest AI CEO Mike de Vere joins us on the podcast to discuss his firms go to market strategy and business model and how the two kind of fit nicely. Mike shares his views on how to bring technology to lending and specifically, de-biasing models to approve more minority borrowers. Mike de Vere is my guest today on the Tearsheet Podcast. Before we jump into our show, I wanted to tell you about Tearsheet’s upcoming Challengers Conference. A first of its kind show, this 2-day online conference is everything about digital banking. We’ll have senior executives from top challenger banks like N26, Revolut, OakNorth, and Betterment as well as new entrants to the digital banking market, like Intuit and Credit Sesame. It’s all happening September 22 and 24th. Go to Tearsheet.co and click on Conferences at the top to learn more.

BMO Harris' Niamh Kristufek on empowering women in fintech

zack.miller@gmail.com (Tearsheet Studios) — Tue, 01 Sep 2020 07:09:17 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller, editor in chief at Tearsheet. Niamh Kristufek is the head of US business banking at BMO Harris Bank. Her team services about 2 million small businesses with products, digital capabilities and experiences to help them reach their financial goals. Niamh joins us to discuss BMO’s support of women via its collaboration with the 1871 Innovation Program. The partnership launched the first cohort of the WMN FINtech program, specifically supporting female entrepreneurs in fintech with resources, programming, and mentorship. Niamh Kristufek is my guest today on the Tearsheet Podcast.

PayEm provides credit cards and software for companies to better manage their corporate spend

zack.miller@gmail.com (Tearsheet Studios) — Wed, 26 Aug 2020 13:57:29 +0000

For a space as big as commercial cards, there are still so many opportunities to make a difference for startups. This is Tearsheet’s Early Stage podcast and I’m Zack Miller, editor in chief of Tearsheet. Here’s where we drill down on up and coming fintech firms, tackling big problems in large markets. Joining me on the show is PayEm’s (https://www.payemcard.com/index.php/en/) co-founder and CEO Itamar Jobani. PayEm provides a corporate card and management tools for companies to streamline their spending. PayEm’s combination of plastic and software helps company leaders approve, track and manage vendors with rules to manage budgets and projects. Jobani joins us on the podcast to share his vision for smart commercial cards, why he founded the company, and where he plans to lead his firm.

'Everything is changing': Edward Jones' CIO Frank LaQuinta on the modernization of brokerage

zack.miller@gmail.com (Tearsheet Studios) — Wed, 19 Aug 2020 05:06:27 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Online trading platform Robinhood just raised more money at a valuation over $11 billion. Traditional brokerage firms are keenly aware of what’s going on and they’re also undergoing their own dance with digital. Frank LaQuinta, CIO at Edward Jones, joins me on the podcast to discuss how the brokerage firm is positioning itself to provide more modern experiences in branch and over digital, for its 7 million clients as well as for its financial advisors. Frank has had a 30 year career at bulge-bracket firms, so he’s seen up close the impact technology is having on financial services. Frank LaQuinta is my guest today on the Tearsheet Podcast.

The Challengers 15: Varo gets a charter, Monzo's on the edge, and Intuit enters banking

zack.miller@gmail.com (Tearsheet Studios) — Sun, 16 Aug 2020 14:17:34 +0000

In this episode of The Challengers, Josh Liggett and Zack Miller explore what Varo Money getting a national charter might mean for the firm and for the challenger banking industry. We compare Monzo, which recently warned about its survivability, and Starling, which said it expects to break even in 2020 and reach profitability in 2021. Lastly, your hosts discuss the new players in the challenger banking space: Kabbage and Intuit. Both launched accounts recently for SMBs. Before we jump into the podcast, I wanted to introduce you to Outlier, Tearsheet’s leading membership program. It’s designed for top fintech and financial service professionals to stay on top daily of the biggest trends, the top companies, and the leaders of this next generation of finance. Get industry briefings by experts like the ones we’re doing this January on best practices in PR and customer acquisition. Find out more at Tearsheet.co/outlier

Neocova's Raymond Chandonnet: 'It's an amazing time to be thinking about tech and community banks'

zack.miller@gmail.com (Tearsheet Studios) — Tue, 11 Aug 2020 17:43:11 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. We don’t talk enough about community banks on the podcast. Coming in to the COVID crisis, community banks lagged large banks and fintechs in technology. But when you look at what’s happened over the past 6 months, community banks committed acts of heroism to serve their customers during the height of the crisis. Raymond Chandonnet, chief revenue officer at Neocova, joins us on the podcast to talk about the window of opportunity community banks have to compete. He describes the role technology plays in driving innovation for community banks and how smaller FIs are migrating to new core banking tech slowly and as part of a larger journey. Raymond Chandonnet is my guest today on the Tearsheet Podcast.

Citizens Bank's Beth Johnson: 'Personal interaction remains important to customers'

zack.miller@gmail.com (Tearsheet Studios) — Mon, 10 Aug 2020 15:42:48 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Consumer behavior was already changing before COVID hit. When you ask financial services executives, may will tell you that COVID is acting to accelerate those trends. Beth Johnson, chief experience officer at Citizens Bank, is studying those trends. Citizens recently published its inaugural Banking Experience Survey, which polled over 10,000 customers and 252 business leaders across the US on their views around digital bank. Beth joins me on the podcast to talk about the importance of marrying human interaction with technology and how changes made in response to COVID will likely have lasting impact on banking and financial services after the pandemic is over. Beth Johnson is my guest today on the Tearsheet Podcast.

WePay's Jennifer Parker: 'We're seeing inspiring early pivots with software firms and marketplaces'

zack.miller@gmail.com (Tearsheet Studios) — Thu, 06 Aug 2020 06:51:17 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. WePay provides payment solutions for platforms like marketplaces and software firms. The Chase-owned company provides payment APIs to firms like Eventzilla, Meetup and TouchBistro. Chief revenue officer Jennifer Parker joins us on the podcast to give us an update on the business and to discuss how platforms and their merchants are coping during the current crisis. We hear about how WePay has supported its ecosystem with products and services throughout this tumultuous time. Jennifer also shares with us her biggest priorities heading into the second half of 2020. Jennifer Parker is my guest today on the Tearsheet Podcast.

Afterpay's Laura Nadler on expansion plans in the U.S.

zack.miller@gmail.com (Tearsheet Studios) — Tue, 04 Aug 2020 06:24:52 +0000

Welcome to the Tearsheet Podcast. I'm Zack Miller. Afterpay is one of the fastest growing buy now, pay later firms in the world. Based out of Australia, the fintech has recently expanded into the US and is planning to expand to Canada soon, as well. Afterpay US CFO Laura Nadler joins us on the podcast to discuss Afterpay’s model and how positioning itself as a partner to retailers has helped it chart a path for growth. Nadler has spent most of her career at traditional financial firms like Visa and we talk about the tailwinds in the business and how COVID is impacting customers and merchants alike. We also discuss Afterpay’s launch of a new loyalty program. Laura Nadler is my guest today on the Tearsheet Podcast.

Galileo's Clay Wilkes on launching Galileo Instant

zack.miller@gmail.com (Tearsheet Studios) — Sun, 02 Aug 2020 13:08:37 +0000

A few weeks back, payments API firm, Galileo launched Instant, which dramatically simplifies and accelerates launching a debit card — taking what can be a multi-month process and turning it into a couple of weeks. Galileo claims it had hundreds of companies signed up for a beta when it went live and the interest is still very strong. Founder and CEO Clay Wilkes talked about Instant when he addressed Tearsheet’s Resilience Conference a couple of weeks ago. Galileo Managing Director Cole Wilkes joins us on the podcast today to talk more about Instant.

Earnest's David Green on student lending in the current economic environment

zack.miller@gmail.com (Tearsheet Studios) — Fri, 31 Jul 2020 06:49:22 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Student lending is undergoing a significant transformation. Earnest Earnest has refinanced over $10 billion for over 124,000 people, helping them pay off their debt and giving them the financial capital to reach their goals. The company combines design and data to build an innovative model for consumer lending, available through a simple, easy to use mobile application. David Green, chief product officer at Earnest, joins us on the podcast to talk about lending in our economic environment, as well as the firm’s relatively new product, in-school student loans. Lastly, we talk about the lender’s product pipeline. David Green is my guest today on the Tearsheet Podcast.

Outlier Briefing: MBLM's Rina Plapler on improving brand intimacy in financial services

zack.miller@gmail.com (Tearsheet Studios) — Thu, 30 Jul 2020 06:18:01 +0000

Welcome to Tearsheet’s Outlier Briefing. This subscriber-only content is exclusive for our Outlier members. We go deeper with subject matter experts, to take actionable steps that can impact your business and practice. Rina Plapler has been working in brand strategy for over 20 years. That means she’s worked with many of today’s top financial brands with market positioning, messaging, and their product portfolios. As a partner at MBLM, she was instrumental in creating her firm’s research on brand intimacy — the emotional science that measures the bonds we form with the brands we use and love. She’s applied this research to the financial industry in an effort to rank the companies and characteristics that make for today’s strongest brands. Rina joins to discuss what makes up brand intimacy and how emotional people feel around financial services. We look at her rankings and the attributes of today’s strongest financial brands. Lastly, she provides advice to companies to make themselves into more intimate brands. To hear the full audio and to access all of our exclusive, member-only material, head on over to Tearsheet.co/outlier

Upstart's Paul Gu: 'AI is a mindboggling change in the economics of lending'

zack.miller@gmail.com (Tearsheet Studios) — Tue, 28 Jul 2020 13:27:11 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Artificial intelligence in finance has long been overhyped, but AI is making an impact in lending decisions. Online lender Upstart exemplifies how the set of technologies can expand lenders’ inclusiveness without necessarily taking on any more risk. Paul Gu, a co-founder at Upstart, joins us on the podcast to talk about his firm’s new AI-powered credit decisioning API that’s letting banks and other lenders deliver instant credit decisions for auto, personal, and student loans. We discuss Upstart’s performance during COVID as well. Paul Gu is my guest today on the Tearsheet Podcast

FIS' Nicole Jass on helping SMBs with new products during this crisis

zack.miller@gmail.com (Tearsheet Studios) — Tue, 28 Jul 2020 06:09:37 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. SMBs have taken it on the chin during this crisis. Nicole Jass, senior vice president of small business and fraud products at FIS joins us to discuss how small business needs have changed and how FIS has responded with product and an evolving product roadmap. The payments technology firm has rolled out upgrades and new products for customers in the past couple of months and Nicole checks in to describe how they’re using them. Nicole Jass is my guest today on the Tearsheet Podcast.

Broadhaven Ventures’ Michael Sidgmore on global trends in embedded finance

zack.miller@gmail.com (Tearsheet Studios) — Mon, 20 Jul 2020 14:10:59 +0000

A global perspective on fintech helps Broadhaven Ventures cross-pollinate customer experience best practices from the U.S., Europe, Latin America and Asia. Today’s guest is Michael Sidgmore, who is a partner at Broadhaven Ventures, a venture capital fund affiliated with Broadhaven Capital Partners, an independent fintech investment bank. Broadhaven Ventures has investments in known fintechs like Credijusto, Kyash, MoneyLion, Starship, Liveoak (recently acquired by DocuSign), BioCatch, Harvest Wealth, Kovi and Nowports. Michael is also a venture partner at Goodwater Capital, a consumer tech venture capital firm that’s invested in Toss, Monzo, Stash, Kyash and Tide, among others. Michael joins us to discuss the diversity of pain points fintech companies are solving for globally and the evolution of the embedded finance paradigms among its portfolio companies and beyond.

Inside Betterment's move into banking with President of Retail, Mike Reust

zack.miller@gmail.com (Tearsheet Studios) — Sun, 19 Jul 2020 17:04:25 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. A lot of monoline financial firms look a lot like banks nowadays. Rebundling, as we like to call it in the industry, is happening. You don’t need to look further than Betterment, a fintech firm whose roots were as a robo-adviser. The firm has been rolling out more banking functionality and the firm’s president of retail, Mike Reust joins us on the podcast to discuss the move into general banking. Mike was previously the firm’s CTO so his perspective on Betterment’s product roadmap gives some insight into where the firm is headed. He discusses the demand side and what customers are looking for. We also chat about the firm’s overall vision and how that impacts product development during the COVID-19 era. Mike Reust is my guest today on the Tearsheet Podcast.

Deep Dive: Chatbots and conversational AI struggle to keep up during pandemic

zack.miller@gmail.com (Tearsheet Studios) — Thu, 16 Jul 2020 14:42:47 +0000

Welcome to the Tearsheet Podcast. I'm Zack Miller. Call volumes into banks have gone up 10x during the pandemic. Wait times have been hours at the peak of the crisis. Chatbots and other forms of conversational AI have been deployed to help. But they're not quite there yet. Tearsheet's Sara Toth Stub recently wrote a story about where chatbots are useful and where they aren't. After a lot of hype, they are providing some real value but it will be years before the technology approaches human customer service reps. Sara Toth Stub is my guest today for a deep dive podcast to discuss the innovations happing in the physical world of payments.

Pindrop's Vijay Balasubramaniyan on how top bank call centers are navigating the COVID crisis

zack.miller@gmail.com (Tearsheet Studios) — Tue, 14 Jul 2020 05:13:38 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. When COVID hit, call volumes surged. Customers were calling their banks and financial institutions out of fear. Banks had to scale this volume while simultaneously transition their customer service staff to work from home. Vijay Balasubramaniyan is CEO of Pindrop which provide many of the top banks and insurers with voice authentication and fraud detection. Pindrop has raised more than $200 million. Vijay joins us on the podcast to talk about the challenges in today’s banking call centers and how some of the top firms are improving outcomes and reducing fraud. We discuss how COVID is impacting the financial industry and what the ecosystem may look like on the other side. Vijay Balasubramaniyan is my guest today on the podcast.

Investing in diverse early stage teams with head of Launch with GS Jemma Wolfe

zack.miller@gmail.com (Tearsheet Studios) — Sun, 12 Jul 2020 19:12:12 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Todays’s guest is Jemma Wolfe. She’s the head of Launch with GS, Goldman Sachs’ $500 million investment strategy in funding early stage companies built by diverse teams. Through Launch With GS, Goldman is trying to increase access to capital and facilitate connections for women, Black, Latinx and other diverse entrepreneurs and investors. Since its inception in June 2018, Launch With GS has deployed more than $230 million globally across businesses with diverse leadership. Joining Jemma is Jean Brownhill, founder and CEO of Sweeten, a home renovation marketplace and a participant in Launch with GS’ new Black and Latinx cohort.

Wealthfront's Chris Hutchins on checking accounts and self-driving money

zack.miller@gmail.com (Tearsheet Studios) — Thu, 09 Jul 2020 07:30:28 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. As fintech matures, many of the early pioneers in the space are realizing how important it is to become a user’s primary account. Wealthfront, which began as a robo-adviser, looks a lot like a bank nowadays. The company recently rolled out new checking account features. Chris Hutchins is the Head of Autonomous Financial Planning at Wealthfront. He joins us on the podcast to talk about his firm’s vision of Self-Driving Money and how the future of financial services will include more autonomous banking services. Chris was previously the co-founder and CEO of Grove, which was acquired by Wealthfront and co-founder of Milk, which was acquired by Google. Chris Hutchins is my guest today on the Tearsheet Podcast.

Jud Linville, ex-CEO of Cards and Consumer Services at Citigroup, takes on fintech

zack.miller@gmail.com (Tearsheet Studios) — Tue, 07 Jul 2020 14:21:53 +0000

Welcome to the Tearsheet Podcast. I'm Zack Miller. Today’s guest is Jud Linville. Jud has decades of experience in financial services and payments, heading up Citi Cards and American Express’ consumer services. He’s now a senior advisor at investment firm General Atlantic. He joins us to discuss the threats and opportunities within financia l services and how fintech and Big Tech are competitively positioned to take marketshare. Jud Linville is my guest today on the Tearsheet Podcast.

Square’s David Rusenko discusses the effect of COVID-19 on Square’s ecommerce plans

zack.miller@gmail.com (Tearsheet Studios) — Mon, 06 Jul 2020 15:23:18 +0000

Welcome to the Tearsheet Podcast. I'm Suman Bhattacharyya. As merchants face new obstacles amid COVID-19 and shelter-in-place mandates, Square is working to smooth their transition to digital. Today’s guest is David Rusenko, Square’s head of e-commerce. Rusenko, who founded website builder Weebly in 2006, has been working with Square since 2018, when Weebly was acquired by Square for $365 million. Since then, Square integrated Weebly’s platform into its e-commerce platform for sellers, which was relaunched as Square Online Store last year. The Square Online Store product suite helps merchants manage online-to-offline business integrations. It lets them manage payments, inventory, delivery and other business tasks in one place. Square joins Shopify, Facebook and Amazon that are seeking to grow their e-commerce merchant businesses. Square is growing its e-commerce chops while other ecommerce platform providers improve their financial services offerings. David joins us to discuss how COVID-19 influenced Square Online Store’s product journey, seller behavior and the next chapter for Square’s ecommerce product ecosystem.

Unconventional Ventures' Theodora Lau: 'We can do better and we have the technology to do it"

zack.miller@gmail.com (Tearsheet Studios) — Wed, 01 Jul 2020 13:11:40 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Today’s guest is Theodora Lau, the founder of Unconventional Ventures. When you listen to her, Theo challenges the industry to do better. Instead of producing another colored metallic debit card, she’d like to see real financial innovation that helps the people hurting the most. The unemployed. The poor. The older demographic. We discuss the financial industry’s relationship with consumer wellbeing and where needs aren’t being met. Theo describes what would need to happen to improve financial outcomes. Lastly, we talk about AI and algorithms and the challenges they impose on us all. Theodora Lau is my guest today on the Tearsheet Podcast.

Yieldstreet's Michael Weisz on the pandemic's impact on digital wealth management

zack.miller@gmail.com (Tearsheet Studios) — Tue, 30 Jun 2020 05:06:33 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. A few years back, and the term ‘crowdfunding’ was pretty popular in fintech circles. We do'n't really use that jargon anymore and many of the biggest players have naturally matured into digital wealth management platforms. YieldStreet is one of those platforms — since inception, investors have deployed over $1 billion in asset classes like real estate, art and legal finance, and commercial loans. Founder and president Michael Weisz joins me on the podcast to discuss broadly the impact Covid-19 is having on the adotpion of fintech and which sectors are positioned to emerge successfully from this crisis. We talk about the evolution of digital wealth management firms in a Zoom world. Michael Weisz is my guest today on the Tearsheet Podcast.

Qolo's Patricia Montesi on launching a payments company during the pandemic

zack.miller@gmail.com (Tearsheet Studios) — Fri, 26 Jun 2020 08:35:20 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller Launching a new firm in the face of this global crisis takes fortitude. Timing couldn’t be worse. Or could it? Demand for different types of digital payments is ramping. That’s the space Qolo (https://qolo.io/) plays in. A bit like Marqeta, a bit like Fiserv, the company was launched by a team with a lot of payments industry experience to be a next-generation B2B payments hub and* *the first all-in-one payments solution. CEO Patricia Montesi joins us on the podcast to talk about building and launching a payments firm in the midst of the Covid crisis and the challenges and opportunities presented by this time. We drill down into Qolo’s capabilities and she desribes how firms are using its API to bring payments in-house. Qolo is going global from its inception and Particia talks about the need to build cross-border capabilities. Patricia Montesi is my guest today on the Tearsheet Podcast.

Fattmerchant wants to turn software firms into payments companies

zack.miller@gmail.com (Tearsheet Studios) — Wed, 24 Jun 2020 06:55:48 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. There are so many fees in the credit card processing market. Fattmerchant, which started almost a decade ago, set out to simplify things with the market’s first subscription, all you can eat, pricing for merchants. As the firm has matured, it’s grown into an integrated payment technology provider that continues to simplify the payment experience for SMBs by bringing various payment technologies together via API. Now, Fattmerchant has introduced a new partership with Finix on a new product called Flex which further empowers software firms to start processing payments immediately within their platforms. Fattmerchant President Sal Rehmetullah joins on on the podcast to talk payments, the evolution of Fattmerchant, the new Flex product and where the payments market is headed in the future. Here’s my talk with Sal.

On Deposit Solutions' launch in the U.S. with CEO Philipp von Girsewald

zack.miller@gmail.com (Tearsheet Studios) — Sun, 21 Jun 2020 11:11:36 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Deposit Solutions has an open banking solution that connects customers and banks. Working in 20 European countries, the company has 30 million depositors on the platform with €25 billion in deposits. Now, Deposit Solutions is active in the U.S. We have Phillipp von Girsewald, Deposit Solution’s CEO in the US. on the podcast to talk about what challenges banks are most looking to solve. We talk about the US adoption of open architecture and how COVID-19 has generated a new perspective on how banks view and work with fintech partners. Philipp von Girsewald is my guest today on the Tearsheet Podcast.

Current's Stuart Sopp on building a bank with customers' best interests in mind

zack.miller@gmail.com (Tearsheet Studios) — Sun, 21 Jun 2020 05:23:30 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. When you talk to the founders of many of the leading challenger banks, you sense that they each have a touch of revolutionary in them. They see the present financial services system as broken — some more, some less — and their firms are out to provide better options for the bulk of people out there. Stuart Sopp’s the CEO of Current. Growing up through the industry as a trader, Sopp made a decision midway through his career to leave his job as a trader and build a challenger bank that’s targeting Millennials and Gen Z with lower — or no — fees and early direct deposit. Current saw 200,000 new users in April and May during the height of the Corona crisis. The company has more than 1 million active accounts. Sopp joins us to talk about the genesis of Current and how it’s helping its target customers. In a crowded field, he describes how Current differentiates itself from the other offerings out there. Sopp tells us how he thinks he can double his userbase in 2020. Stuart Sopp is my guest today on the Tearsheet Podcast.

As its new bank offering scales, Credit Sesame acquires Canadian challenger bank Stack

zack.miller@gmail.com (Tearsheet Studios) — Tue, 16 Jun 2020 13:00:24 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. In March, Credit Sesame debuted its banking offering, Sesame Cash. Since then, more than 200,000 customers have signed up, with thousands of new accounts per day, putting Credit Sesame among the fastest growing digital banking service providers in the U.S. 62 percent of Credit Sesame’s 15 million registered users have expressed interest in Sesame Cash for better cash and credit management. Cash was launched in collaboration with Canadian banking provider Stack. and now, Credit Sesame is announcing it has acquired Stack and will use the technology and team to expand for the first time internationally. My guests today on the podcast are Adrian Nazari, CEO and founder of Credit Sesame, and Stack’s CEO Miro Pavletic, who will assume the new role of GM, Canadian and International Business for Credit Sesame.

Outlier Briefing: How the Remittance Rule impacts pricing with TransferWise's Nick Catino

zack.miller@gmail.com (Tearsheet Studios) — Mon, 15 Jun 2020 14:28:22 +0000

Welcome to Tearsheet’s Outlier Podcast. This subscriber-only podcast i exclusive for our Outlier members. We go deeper with subject matter experts, to take actionable steps that can impact your businesses and practice. To get access to the full audio and transcripts, head on over to Tearsheet and apply to become an Outlier member(tearsheet.co/outlier). The Consumer Financial Protection Bureau recently released its final rule covering remittance transfers. While the Remittance Rule requires transfer providers to generally disclose the exact exchange rate, the amount of certain fees, and the end amount expected to be delivered, it also allows certain banks and credit unions to continue to provide estimates of the exchange rate and certain fees under certain conditions. Today’s guest is Nick Catino, head of policy and campaigns for the Americas at TransferWise — he joins us to brief us on the CFPB’s final rule regarding remittances and what it means for fintechs, banks, and consumers.

How Sunrise Banks and Anvil onboarded $134M in PPP loans for 1600 SMBs in 5 days

zack.miller@gmail.com (Tearsheet Studios) — Sun, 14 Jun 2020 13:44:57 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. The PPP government aid program in the US continues to put a strain on the banking sector. We’re hearing an increasing number of stories of how traditional institutions are partnering with fintechs to navigate through the crisis. Anvil is one of those fintechs servicing traditional banks and FIs. The company, which replaces PDF forms with online workflows, collaborated with Sunrise Banks to get help the Minneapolis-based bank process $134 million in PPP loans in just five days for 1600 small businesses. Anvil also closed a recent funding round that saw Citi Ventures and Gradient Ventures, Google’s AI-focused fund, participate. Anvil founder and CEO Mang-Git Ng joins me on Tearsheet Podcast today.

After being acquired by SoFi, Galileo's Clay Wilkes looks out to a busy future

zack.miller@gmail.com (Tearsheet Studios) — Sun, 14 Jun 2020 09:51:49 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. One of the most exciting stories of this generation of fintech firms is Galileo. Recently acquired by SoFi for $1.2 billion, Galileo now provides the payments and banking backbone via APIs to many of the top names in the game — Chime, TransferWise, Robinhood and Bluevine. Firms like these use Galileo to open accounts and issue cards. Clay Wilkes founded Galileo 20 years ago and continues to lead the company today. He joins us on the podcast today to talk about why his firm is seeing so much interest from companies across industries that want to launch financial products. Clay describes the genesis story behind Galileo and what the early opportunities were for the problems he was attempting to solve. He describes the evolution of the platform, as financial services have matured. Clay dives into the use cases for his customers and lastly, he talks about the product and corporate strategy pipeline he’s got lined up for the near future. Clay Wilkes is my guest today on the Tearsheet Podcast

On navigating digital banking though the crisis with Finacle's Rajashekara Visweswara Maiya

zack.miller@gmail.com (Tearsheet Studios) — Thu, 11 Jun 2020 10:31:38 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Banking systems were put to the test, surviving the impact of the current pandemic. In many cases, this crisis accelerated digital transformation programs. There is increased demand for digital solutions that require banks to seriously think about their legacy tech stacks and models. Joining us on the podcast is Rajashekara Visweswara Maiya, Finacle’s VP, Head-Business Consulting, Cloud & Blockchain Business. We discuss banking’s role in helping the economy recover and how the shutdown of physical branches and manual processes being unavailable have led to increased access to digital services. We talk about how banking modernization has suddenly become an urgent goal, leaving banking management to question which programs truly make a difference to the end-user. Maiya Visweswara is my guest today on the podcast.

Deep Dive: Small businesses increasingly turn to small banks and fintech

zack.miller@gmail.com (Tearsheet Studios) — Tue, 09 Jun 2020 08:47:31 +0000

Welcome to the Tearsheet Podcast. I'm Zack Miller. Small business demand fo government relief is at record levels. Bigger banks, for the most part, have forsaken SMBs. Smaller banks and fintechs have emerged to service small and medium businesses with streamlined loan processes, technology, and new onboarding tools. Tearsheet's Sara Toth Stub wrote a story on he challenges SMBs are facing in this market and what type of financial services firms have emerged to help them. Sara Toth Stub is my guest today for a deep dive podcast to discuss how small businesses are increasingly turning to smaller banks and fintechs during the pandemic.

A chat about challenger banking in the US with Revolut's US CEO Ronald Oliveira

zack.miller@gmail.com (Tearsheet Studios) — Thu, 28 May 2020 05:36:04 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Today’s guest is Ronald Oliveira, the U.S. CEO of challenger bank Revolut. Ron has a lot of experience in the traditional side of banking as he takes over the reins for the European fintech’s efforts stateside. We discuss the challenges and opportunities of the US market. Ron describes the firm’s product rollout cycle for Revolut, which wants to be a global bank. We would be remiss if we didn’t chat about the fintech vs. incumbent bank scenario and Ron’s perspective is important given the two worlds he’s straddled. Ron Oliveira is my guest today on the Tearsheet Podcast.

How Finlocker and Fiserv enhance data, lower costs, and increase throughput for mortgage originators

zack.miller@gmail.com (Tearsheet Studios) — Wed, 27 May 2020 09:17:25 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. We’ve got an interesting episode teed up for you today. It’s a case study with Finlocker and Fiserv. Finlocker is a super app that integrates with banks and other financial institutions to enable loans and financial transactions. Consumers consent to feed it with their bank account data and the personal finance assistant makes loan product recommendations. President Brain Vieaux joins us on the podcast today to talk about how Finlocker enhances consumer data, lowers lending costs and increases throughput for mortgage originators as part of an overall financial welness scheme. Joining us is Paul Diegelman, Fiserv’s vp of electronic payments and aggregation. Paul’s team worked closely with Finlocker to integrate Fiserv’s AllData aggregation product. AllData provides up-to-the-minute aggregated account data from roughly 18,000 connections from sources like banks, credit unions, billers, card platforms and wealth management firms, providing the data consumers have permissioned into their lockers. Paul is presenting at next week’s DataDay Conference presented by Tearsheet. He’ll be discussing PFM 2.0: Top use cases for improving financial outcomes for banking customers. Fiserv is a sponsor of the DataDay Conference. I’m Zack Miller, Editor in chief at Tearsheet. Based on this real-world use case, data is helping driving innovations and companies that realize this are on the fast track to growing their business and deepening customer engagement. Fiserv’s AllData aggregation product is being used by companies of all size to help consumers see their full financial pictures, enabling them to make smarter and more-informed financial decsisions. Fiserv is a sponsor of the DataDay Conference presented by Tearsheet on June 2 through June 4th. DataDay is the premiere conference in the financial services industry that deals entirely with data, data ecosystems, data aggregation, and alternative data. Fiserv’s Paul Deigelman will be presenting along with senior leaders at MX, Plaid, Wells Fargo, Envestnet Yodlee, Nova Credit, Stash, and more. Go to Tearsheet’s website at tearsheet.co and click on the DataDay Conference button at the top to register.

Plaid's Niko Karvounis: 'Connectivity is a foundational element of digital finance'

zack.miller@gmail.com (Tearsheet Studios) — Tue, 26 May 2020 06:26:01 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Data aggregation and connectivity firm Plaid recently announced Exchange, its open finance platform that allows banks and other financial institutions to share their customers’ data via a single API integration. As the public requires more forms of integration with the fintech apps they use, banks are looking for secure solutions. And for banks that may not have the in-house chops to stand up an API, Exchange enables them to get to market cheaper and quicker. Plaid’s Niko Karvounis joins me on the podcast today. The product lead for Plaid’s institutional products, Niko was also co-founder of Quovo, which Plaid acquired. He shares his vision for Exchange and how financial institutions are moving to service their customers’ needs for connectivity. DataDay is the first-of-its-kind conference on financial data. Consumer data, data ecosystems, and data aggregation is changing the face of modern financial services. Join top speakers from Plaid, Wells Fargo, Fiserv, MX, Stash, and more. Secure your spot at tearsheet.co/dataday-conference-2020

Mastercard's James Anderson on simplifying B2B payments, launching Track Business Payment Service

zack.miller@gmail.com (Tearsheet Studios) — Thu, 21 May 2020 08:00:19 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Commercial payments are a huge opportunity. They’re antiquated — checks are still very popular in the U.S. -- they’re complicated, and they’re huge, worth hundreds of trillions of dollars. Mastercard’s James Anderson, evp of global commercial products, joins us on the podcast to talk about his team’s major launch of Track Business Payment Service. Mastercard’s Track BPS addresses the different ways buyers and suppliers want to transact with a B2B digital payments solution in the U.S.. It uses card payment rails combined with distribution partners across the B2B ecosystem. James walks us through the challenges of B2B payments and how his team began building Track BPS 20 months ago. He describes the architecture and how it relies on partners that have direct inroads into buyers and sellers. It’s a big launch for James and Mastercard, designed to go global from the start. James Anderson is my guest today on the Tearsheet Podcast.

N26's Nicolas Kopp on getting to 250,000 users in 5 months in the U.S.

zack.miller@gmail.com (Tearsheet Studios) — Wed, 20 May 2020 05:13:52 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. N26 was the first foreign challenger bank to launch in the U.S. When you speak with CEO Nic Kopp, you know it was no simple feat. Now, five months in the market, Kopp joins us on the podcast to discuss the launch process and what it takes to bring a challenger online. We discuss who’s using N26 in the US and what they’re using it for. We talk about user acquisition and how the company was able to get its first 250,000 users. Nic Kopp is my guest today on the Tearsheet Podcast. DataDay is the first-of-its-kind conference on financial data. Consumer data, data ecosystems, and data aggregation is changing the face of modern financial services. Join top speakers from Plaid, Wells Fargo, Fiserv, MX, Stash, and more. Secure your spot at https://tearsheet.co/dataday-conference-2020

The Challengers 14: N26 raises war chest, the rise of digital private banks, & future of Green Dot

zack.miller@gmail.com (Tearsheet Studios) — Thu, 14 May 2020 12:24:49 +0000

On this episode of The Challengers Podcast, Zack Miller and Josh Liggett talk about the extension financing round some of the larger challenger banks are announcing. N26, Revolut and Judo all added to their war chests as they, and their investors, prepare to be going into what Zack called "a nuclear winter". Josh said some of the challenger banks looking to raise mid-2020 are suffering. So, those firms who can raise, should raise. Josh said that Microsoft has had 2 to 3 years of sales happen in the past few months as firms move further into digital. Green Dot is a company in transition. In some sense, it was one of the first challengers and has seen the rest of the market kind of pass it by. New leadership wants to focus more on its banking as a service platform and spend less on marketing its own products. Josh relates the firm's evolution to a lot of what's going on in technology about focusing on the base and jettisoning the side projects. Josh related that New Jersey has a shortage of ventilators, surgical masks, and COBOL developers. He's frustrated on how long it's taking for banks to fully embrace digital. Zack believes that the pandemic is accelerating a process that was already underway. There's still a long way to go. Josh talked about the rise of niche challengers, exemplified by two new European digital private banks looking for their footing, Alpian and 220.

Tearsheet's DataDay Conference Preview: Hossein Rahnama, Flybits

zack.miller@gmail.com (Tearsheet Studios) — Thu, 14 May 2020 05:22:46 +0000

Flybits' Hossein Rahnama is one of our speakers at DataDay, the first-of-its-kind conference on financial data. Consumer data, data ecosystems, and data aggregation is changing the face of modern financial services. Join Adam and speakers from Plaid, Wells Fargo, Fiserv, MX, Stash, and more. Secure your spot at https://ti.to/tearsheet/tearsheets-dataday-conference-2020 The foundation for Flybits came from a research lab and Hossein's PhD research, which was about understanding context in large data sets. "I spun that off about six years ago and now, Flybits is a venture backed company headquartered in Toronto with offices in New York, San Francisco, London and Dubai," he said. AI requires domain knowledge and the understanding of the context in which the technology finds itself. For example, it’s very hard for an AI engine to understand the needs of a parent when she’s at home versus that parent’s needs traveling across borders. "You can train AI algorithms to understand and predict patterns but understanding that context and domain knowledge has always been an impediment," he said. Hossein's research brought context and the world of ontologies into the AI world and then applies them to digital channels. "Your context basically determines the behavior of the experience that you’ll see on a digital channel." Consumers have access to concierge services like Siri, Google Assistant, and Alexa. But Rahnama believes the real question for banks is how to create concierge capabilities on their own channels. "Most of them want to keep their data but come up with predictive services on their own digital channels, personalizing services while keeping their customers’ data secure," he said. "They want to be a lifestyle concierge engine for their customers."

Outlier Briefing: The emerging use cases for AI in financial services with Emerj's Dan Faggella

zack.miller@gmail.com (Tearsheet Studios) — Mon, 11 May 2020 06:21:33 +0000

Welcome to Tearsheet’s Outlier Podcast. This subscriber-only podcast is exclusive for our Outlier members. We go deeper with subject matter experts, to take actionable steps that can impact your business and practice. I’m Zack Miller, editor in chief at Tearsheet To get access to the full audio and transcripts, head on over to Tearsheet and apply to become an Outlier member(tearsheet.co/outlier). Today’s guest is Dan Faggella, a global expert on artificial intelligence and its use cases for financial services. Dan’s the founder and head of research at Emerj, a research and advisory company on AI. Dan takes a practical approach when it comes to discussing AI’s potential in financial services. The adoption challenge for banks taking up AI are real — he’s polled them and has built a framework around them and how to overcome hurdles. We talk about concrete use cases for AI in the front office and where we’re headed when it comes to cross-selling or customer acquisition. Dan Faggella is my guest today on the Outlier Podcast.

Envestnet I Yodlee's Brandon Rembe on the move to hyper-personalization

zack.miller@gmail.com (Tearsheet Studios) — Tue, 05 May 2020 12:36:09 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Consumers increasingly expect higher levels of personalization from their financial services providers. Whether it’s from a challenger bank or Bank of America, people are used to Netflix-level of recommendations. An entire industry is cropping up to help provide a consumer’s data from all her accounts so that a service provider can provide actionable advice when she needs it most. Envestnet I Yodlee’s senior vice president of products and strategy Brandon Rembe joins me on the podcast to talk about what leading financial services organizations are doing about best practices in personalization for their customers. Hyper-personalization, he says, presents an opportunity for FIs to provide insights that take into account and anticipate consumer behavior based on their savings, investing, and spending habits. Especially in crazy times like we’re experiencing today, aggregating financial data and creating insights with these tools ultimately enables consumers to have a more complete understanding of their financial health and empowers people to improve their long-term financial wellness and reach their goals. Brandon Rembe is my guest today on the Tearsheet Podcast. But before we jump into the show, I wanted to tell you about Tearsheet’s newest online conference, DataDay 2020. Entire financial ecosystems are emerging around financial institutions and large fintech companies with data at its core. We’re spending three days hearing from top executives at firms like Fiserv, MX, Wells Fargo, Envestnet I Yodlee, Plaid and more about they are best leveraging customer data to help deliver better products and services. DataDay 2020 is all about data sharing, data aggregation, and personalization. For more information, click on the DataDay Conference button at the top of our website, www.tearsheet.co

Rapyd's Eric Rosenthal on taking fintech-as-a-service global

zack.miller@gmail.com (Tearsheet Studios) — Thu, 30 Apr 2020 16:15:40 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. If you’re a retailer or a new challenger bank, it just doesn’t make sense anymore to build out payments infrastructure when you have firms like Rapyd out there. Eric Rosenthal, Rapyd’s managing director of the Americas, joins us on the podcast to talk about the hot fintech as a service firm that has gone global from its very start. The company just launched into Brazil and Eric describes the company’s global strategy and how Brazil plays into that. We talk about who’s integrating payments and where the market is headed. Eric Rosenthal is my guest today on the Tearsheet Podcast. But before we jump into the show, I wanted to tell you about Tearsheet’s newest online conference, DataDay 2020. Entire financial ecosystems are emerging around financial institutions and large fintech companies with data at its core. We’re spending three days hearing from top executives at firms like Fiserv, MX, Wells Fargo, Envestnet I Yodlee, Plaid and more about they are best leveraging customer data to help deliver better products and services. DataDay 2020 is all about data sharing, data aggregation, and personalization. For more information, click on the DataDay Conference button at the top of our website, www.tearsheet.co

OakNorth's CIO Sean Hunter on how banks can excel in disbursing government assistance

zack.miller@gmail.com (Tearsheet Studios) — Tue, 28 Apr 2020 14:23:39 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. The current COVID-19 crisis presents a massive challenge to the financial industry. And like every crisis, it also presents an amazing opportunity to service customers in an entirely new way. In the US, the CARES Act and its Paycheck Protection Program means banks will need to process approximately 50 times their normal annual loan volume in the next 30 to 60 days. On today’s podcast, we talk to UK lending platform OakNorth’s CIO Sean Hunter. Sean and his team have designed an end-to-end solution —from application and document collection to pre-screening and forgiveness — to help regional and community banks process this insane volume. Sean takes us through the requirements of the various government assistance programs, how banks are dealing with the strain, and how OakNorth built its new capabilities through a process of running its own loan book for its UK challenger bank. Sean Hunter is my guest today on the Tearsheet Podcast.

Outlier Briefing: The march towards digitization with Publicis.Sapient's David Donovan

zack.miller@gmail.com (Tearsheet Studios) — Thu, 23 Apr 2020 08:15:55 +0000

Welcome to Tearsheet’s Outlier Podcast. This subscriber-only podcast i exclusive for our Outlier members. We go deeper with subject matter experts, to take actionable steps that can impact your businesses and practice. To get access to the full audio and transcripts, head on over to Tearsheet and apply to become an Outlier member(tearsheet.co/outlier). Today’s guest is David Donovan, executive vice president at Publicis Sapient. He leads the firm’s North American financial services practice. Publicis Sapient is a domain-lead digital consultancy. It works with all the major investment banks and that gives David a good view into what’s going on strategically and operationally on the ground in banking. David doesn’t mince words when it comes to digital transformation. For him, it’s really a matter of life or death, and that’s before we were hit with the COVID-19 crisis. He takes us behind the scenes to show how some of the top banks are transitioning to a work from home environment and how it’s impacting his own as well as his clients’ businesses and product development. We drill down on AI and how companies are really beginning to derive value from advances made there. Here’s our Outlier briefing on branding with David Donovan.

Symphony's David Gurlé on enterprise communication and collaboration in financial services

zack.miller@gmail.com (Tearsheet Studios) — Wed, 22 Apr 2020 11:12:29 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. From Skype to Thomson Reuters, David Gurlé has sat on the cutting edge of enterprise communications for two decades, in 2014, David founded Symphony, a communication and collaboration platform for financial services. David joins us on the podcast to talk about how communications technology has evolved in the financial sector and looks out ahead to what’s in store. More than just a platform to connect, Symphony has APIs so that its users can share and automate workflows. The company recently released the second generation of its platform with simplified interactions and a customizable UI and smart notifications. David Gurlé is my guest today on the Tearsheet Podcast.

CEO Brady Harris on the future of Dwolla, ACH, and payments

zack.miller@gmail.com (Tearsheet Studios) — Tue, 21 Apr 2020 11:33:00 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Dwolla’s new CEO Brady Harris joins me on the podcast. He’s been in the payments industry long enough to see the real opportunity for B2B payment players and how the space has evolved over time. We talk about ACH, the role it plays in payments ecosystem, and where it might be headed. Use cases are expanding and Harris describes how different firms and industries are using it to advance their payments experiences. We talk about Dwolla and where the company can continue to find growth. Brady Harris is my guest today on the Tearsheet Podcast.

Advancing women in fintech with Ocrolus' Nicole Newlin

zack.miller@gmail.com (Tearsheet Studios) — Sun, 19 Apr 2020 13:40:34 +0000

Welcome to the Tearsheet Podcast. I’m Zack Miller. Today’s guest is Nicole Newlin. She’s the vp of solutions at Ocrolus, which provides fintech infrastructure for data analysis. She runs the team that handles client onboarding and integration. She’s also NYC Fintech Women’s newest board member. Nicole shares her personal journey as a woman rising through the ranks within fintech. She also shares her plans to extend NYC Fintech Women’s reach through things like education, community and coaching. I ask her for career advice she’d give her younger self. Nicole Newlin is my guest today on the Tearsheet Podcast.