"You show me your wallet and I’ll show you your values." - Bradley Leimer

Welcome to episode 22 of The CUInsight Experience podcast. Hosted by Randy Smith, co-founder and publisher of CUInsight.com. Today’s guest is Bradley Leimer the co-founder of Unconventional Ventures. He works with startups in the fintech ecosystem and mentors entrepreneurs. He believes in bringing diversity to the fintech ecosystem and that anybody with a great idea should have the chance to succeed. He truly is one of the most respected names in the fintech space and I was very excited to get to speak with him. 

We recorded this episode prior to Bradley’s talk at the CO-OP Think Event and start our conversation with a discussion on the future of the community banking model. Bradley talks about the concept of payments and the distinct difference in mindset around payments in other parts of the world versus the American view. I then brought up my trip to Indonesia and the fact that the Asian markets no longer carry cash. Applications are now the primary form of payments.

Following our discussion of the impact of technology on the banking industry, we dive into data collection and use. Bradley shares that while credit unions are poised to be able to use data more effectively than larger institutions, many times the relationship with their technology partner is not strong enough. He then gives examples of how credit unions could better collaborate with their technology partners.

Tune in to today’s episode to learn all about how technology and data collection are changing the landscape of finance and financial institutions. We’ll talk about Bradley’s start in the finance space, his innumerable travels, and his advice for financial institutions in the digital age.

You can find all past episodes of The CUInsight Experience here.

How to find Brad:
Bradley Leimer
Co-founder of Unconventional Ventures
[email protected]
www.unconventionalventures.com
Twitter | LinkedIn | Podcast  

In This Episode:

[00:03] - Welcome back to the show! Randy introduces Bradley Leimer, this episode’s guest.

[02:40] - What’s the biggest disruption to credit unions that you see in the future?

[04:30] - We discuss the move toward apps to make payments.

[05:05] - Is there a threat to the relevance of traditional financial institutions? 

[06:44] - Communities are starting to be less served by banks and credit unions based in those communities.

[07:19] - Is there a place for credit unions that are going to stay relevant and fintech to work together? 

[08:30] - Regulators are becoming more receptive to open banking regulations. Create open shares for data shares between different institutions.

[09:48] - What’s the lobby? Is fintech attaching to the bank lobby or trying to change other rules? 

[10:35] - What’s been the biggest challenge of working with people in the fintech space? 

[13:01] - Are the fintechs looking to partner with the more traditional system? 

[14:30] - What do you mean by financial services not being age agnostic? 

[16:15] - We discuss how data is affecting the customer experience and how it is being used today in other industries. 

[18:03] - Bradley talks about how data can now reveal customer value based on spending and habits. 

[19:09] - How is the collection and use of data going to be affected by huge breaches