Sign up to save your podcasts
Or
Share Bank-Fintech Partnerships, Open Banking and AI…oh my!
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Bank-Fintech Partnerships, Open Banking and AI…oh my!
In This Episode
We kick off with a crossover segment featuring Fintech Takes host and fintech insider Alex Johnson, who joins Jason to break down major themes from Money20/20 2024. Together, they explore the hot topics shaping fintech right now: bank-fintech partnerships, Banking-as-a-Service (BaaS), open banking (1033), and the evolving role of AI.
Alex shares highlights from his on-stage interview with CFPB Director Rohit Chopra, where they discussed the finalized 1033 rule, the ongoing legal pushback from big banks, third-party risk management, and new BaaS standards aimed at creating more balanced partnerships. The duo also dives into the rapid-fire world of AI. Is it all just hype, or are we approaching real innovation? With regulation on the rise, there’s a lot for the industry to figure out—standards, safeguards, and perhaps even a looming digital divide.
Finally, Jason wraps things up with a lively chat with Mary Wisniewski, Editor-at-Large for Cornerstone Advisors. They discuss financial therapy, Mary’s perspective on the latest 1033 updates, and even squeeze in a bit of Texas Hill Country fun. Hit play and join us for a packed episode!
Read the entire transcript here.
Podcast Content:
Chapter 1: 00:00 – Welcome and Overview of Money 2020
Brett King introduces the episode, discussing highlights from Money 2020, including insights into fintech trends and key partnerships.
Chapter 2: 04:30 – Money 2020 Recap: Open Banking and 1033 Drama
A reflection on the regulatory and industry conversations around open banking and the CFPB’s finalized 1033 rule.
Chapter 3: 12:15 – Bank-Fintech Partnerships: Collaboration and Challenges
Insights into third-party risk management, standard-setting challenges, and the evolving dynamics of bank-fintech partnerships.
Chapter 4: 20:45 – The AI Hype Cycle: Balancing Reality and Expectations
Exploring the current state of AI in financial services, separating meaningful use cases from overhyped promises.
Chapter 5: 29:00 – The Role of Regulators in Banking Innovation
A deep dive into regulatory implications for open banking, AI, and fintech partnerships, featuring insights from Director Chopra of the CFPB.
Chapter 6: 36:45 – The Digital Divide: Small vs. Large Banks
Analyzing how smaller banks face challenges in adopting open banking and AI, and the competitive advantages of larger institutions.
Chapter 7: 45:30 – Financial Therapy: Behavioral Insights and Spending Habits
A discussion on the emerging field of financial therapy and its applications for understanding consumer behavior.
Chapter 8: 52:00 – Platform vs. Point Solutions in AI
Examining the pros and cons of platforms versus point solutions in banking, with examples from the Glia conference.
Chapter 9: 59:30 – Looking Ahead: Open Banking as a Competitive Opportunity
Final thoughts on how banks can leverage open banking proactively rather than just complying with regulations.
Related Content:
https://youtu.be/ZPQWCMOHOWI
View all episodes
By Breaking Banks - The #1 Global Fintech Podcast
4.6
189189 ratings
In This Episode
We kick off with a crossover segment featuring Fintech Takes host and fintech insider Alex Johnson, who joins Jason to break down major themes from Money20/20 2024. Together, they explore the hot topics shaping fintech right now: bank-fintech partnerships, Banking-as-a-Service (BaaS), open banking (1033), and the evolving role of AI.
Alex shares highlights from his on-stage interview with CFPB Director Rohit Chopra, where they discussed the finalized 1033 rule, the ongoing legal pushback from big banks, third-party risk management, and new BaaS standards aimed at creating more balanced partnerships. The duo also dives into the rapid-fire world of AI. Is it all just hype, or are we approaching real innovation? With regulation on the rise, there’s a lot for the industry to figure out—standards, safeguards, and perhaps even a looming digital divide.
Finally, Jason wraps things up with a lively chat with Mary Wisniewski, Editor-at-Large for Cornerstone Advisors. They discuss financial therapy, Mary’s perspective on the latest 1033 updates, and even squeeze in a bit of Texas Hill Country fun. Hit play and join us for a packed episode!
Read the entire transcript here.
Podcast Content:
Chapter 1: 00:00 – Welcome and Overview of Money 2020
Brett King introduces the episode, discussing highlights from Money 2020, including insights into fintech trends and key partnerships.
Chapter 2: 04:30 – Money 2020 Recap: Open Banking and 1033 Drama
A reflection on the regulatory and industry conversations around open banking and the CFPB’s finalized 1033 rule.
Chapter 3: 12:15 – Bank-Fintech Partnerships: Collaboration and Challenges
Insights into third-party risk management, standard-setting challenges, and the evolving dynamics of bank-fintech partnerships.
Chapter 4: 20:45 – The AI Hype Cycle: Balancing Reality and Expectations
Exploring the current state of AI in financial services, separating meaningful use cases from overhyped promises.
Chapter 5: 29:00 – The Role of Regulators in Banking Innovation
A deep dive into regulatory implications for open banking, AI, and fintech partnerships, featuring insights from Director Chopra of the CFPB.
Chapter 6: 36:45 – The Digital Divide: Small vs. Large Banks
Analyzing how smaller banks face challenges in adopting open banking and AI, and the competitive advantages of larger institutions.
Chapter 7: 45:30 – Financial Therapy: Behavioral Insights and Spending Habits
A discussion on the emerging field of financial therapy and its applications for understanding consumer behavior.
Chapter 8: 52:00 – Platform vs. Point Solutions in AI
Examining the pros and cons of platforms versus point solutions in banking, with examples from the Glia conference.
Chapter 9: 59:30 – Looking Ahead: Open Banking as a Competitive Opportunity
Final thoughts on how banks can leverage open banking proactively rather than just complying with regulations.
Related Content:
https://youtu.be/ZPQWCMOHOWI
More shows like Breaking Banks
View all
Motley Fool Money
3,213 Listeners
This Week in Startups
1,285 Listeners
Macro Voices
3,072 Listeners
Masters in Business
2,177 Listeners
Odd Lots
1,955 Listeners
Authentic Living
31 Listeners
Getting In: A College Coach Conversation
283 Listeners
11:11 Talk Radio
98 Listeners
The a16z Show
1,095 Listeners
HBR IdeaCast
170 Listeners
Invest Like the Best with Patrick O'Shaughnessy
2,353 Listeners
Civil War Talk Radio
61 Listeners
Masters of Scale
3,993 Listeners
Inside the Strategy Room
173 Listeners
The Forbes Factor - Your Secret to health, wealth & happiness!
35 Listeners
The Sexy Lifestyle with Carol and David
111 Listeners
Cat Talk Radio
67 Listeners
Fearlessly Authentic
29 Listeners
Dwarkesh Podcast
525 Listeners
Coaching Real Leaders
668 Listeners
Men’s Therapy Podcast
27 Listeners
Moody's Talks - Inside Economics
322 Listeners
The AI Daily Brief: Artificial Intelligence News and Analysis
632 Listeners
The Markets
79 Listeners