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."

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."

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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."

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."

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."

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!

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."

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.

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!

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

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!

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."

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/

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.

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

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

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.

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.

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.”