Breaking Banks

Drumroll…it’s a new series from Breaking Banks, Killing It, candid discussions with entrepreneurs sharing lessons, failures, successes and some of the tough decisions they had to make. From VCs to unicorns, it’s a high stakes game with high rates of failure. Not everything goes up and to the right, and success looks different for everyone — you can grind away and do all you are supposed to do, and get to the point that you have to deliver terrible news to your cofounder and employees who believed in you. There are lots of stories from awesome people who have been knocked to the mat multiple times and gotten back up. It’s not uncommon, but how do you bounce back and what does it take to walk away from it. Listen as hosts Jason Henrichs and Alex Johnson bring these stories to life.

Then, investing in the next frontier, we turn to Greg Palmer, host of sister podcast Finovate as he speaks with Tamara Steffens, Managing Director, Thomson Reuters Ventures, about her perspectives on what’s on tap for fintech and the funding ecosystem this year. Enjoy the show!

Read the entire transcript here.

The hosts introduce the “Killing It” series, focused on candid entrepreneurial stories, and preview insights into fintech investments with Tamara Stephens.

A conversation with Alex Johnson about the emotional challenges of failure in entrepreneurship and the journey of rediscovering identity and purpose.

Exploring the unique pressures founders face, including decision-making, downsizing, and the emotional toll of living with those choices.

A deep dive into how trust and relationships can influence future ventures, even after a business fails or pivots.

Tamara Stephens of Thomson Reuters Ventures discusses trends, the importance of product-market fit, and the state of fintech funding in 2024.

Tamara highlights the impact of artificial intelligence in tax and compliance and the renewed focus on bootstrapped startups amid funding challenges.

A look at the future of fintech, focusing on resilience, profitability, and emerging areas like cross-border payments and AI-driven compliance tools.

Reflections on entrepreneurship, the challenges of fintech innovation, and the need to balance ambition with realistic, sustainable growth strategies.

Does BaaS go boom, and other predictions and projections for the year. Listen as host Jason Henrichs connects with hot takers Alex Johnson, Fintech Expert & Workweek Creator and Jason Mikula, Managing Director, Fintech Business Weekly about what they’ve been seeing and what they hope to see in our industry. For those that like analysis they jump into the current state of BaaS, theories on implications for the rest of the year not to mention any projections they think they might need a mulligan for and which are proving true!

Read the entire transcript here.

The hosts introduce the topic of Banking-as-a-Service (BaaS) and the question of whether 2024 will be a pivotal year for its evolution.

Jason and Alex revisit their 2024 predictions, discussing early developments in BaaS and debating which forecasts might already need revising.

The panel examines how venture capital has underpinned BaaS models, questioning its long-term sustainability and the role of banks in this ecosystem.

Regulatory hurdles and network effects within BaaS are dissected, emphasizing the challenges banks face in balancing compliance with scalability.

Exploring the misalignment between middleware platforms, fintechs, and banks, the discussion centers on rethinking BaaS economic models.

The conversation shifts to the financial realities of BaaS providers, unprofitable fintechs, and the broader fintech funding environment.

Analyzing potential exit strategies for fintech companies, including IPOs and M&A, with reflections on past trends and 2024 expectations.

Closing thoughts on how innovation, regulation, and business realities will shape the future of BaaS and fintech partnerships in 2024.

This week on Breaking Banks, Money in the 21st Century, a special episode from sister podcast Breaking Banks Asia Pacific. Listen as Breaking Banks Asia Pacific host Charis Palmer sits down with economist and professor of economics Richard Holden to chat about his new book: Money in the 21st Century and why he believes that the US Fed needs to get going with a ‘Fedcoin’. They also cover the global economics of #crypto #cbdcs #mobilemoney and #cheapmoney, and how we’ll all transact in our future cashless world. Enjoy the episode!

Read the entire transcript here.

The hosts introduce economist Richard Holden and his new book, Money in the 21st Century, exploring the future of money and payments.

Richard discusses how low interest rates, mobile money, and cryptocurrencies are reshaping how we transact globally.

Richard makes a compelling argument for the U.S. to create a digital currency, emphasizing its necessity in a race against China and private digital currencies.

Examining the inevitability of a cashless future, Richard outlines a phased approach for governments to reduce reliance on physical currency.

A discussion on how central bank digital currencies can address issues of financial inclusion, particularly for the unbanked in developing economies.

Exploring the tension between decentralized cryptocurrencies and government-controlled CBDCs, with insights into their potential coexistence.

Richard evaluates China’s rapid progress in developing the ECNY and its implications for global monetary dominance.

A look at the role of regional financial blocks like Enbridge in shaping international money transfers and blockchain-based systems.

Closing thoughts on how international institutions might adapt to a world dominated by central bank digital currencies.

Excitement over new technologies, new capabilities, new business models, and new companies often turns to hype, but what goes up, must come down. We seem to be working through hype cycles faster and faster, but what’s on the other side is rarely a return to the status quo. In this episode, Simon Taylor,  Fintech Brainfood, Jim Marous, The Financial Brand and Theo Lau, Unconventional Ventures join hosts Brett King and JP Nicols to share insights and debate what upward and downward forces will most impact fintech and banking in the next 12 months, and what that new reality looks like.

Read the entire transcript here.

Brett King and Jason Henricks introduce the episode, set the stage for the 2024 outlook discussion, and highlight the themes of hype cycles and industry realities.

J.P. Nichols discusses the acceleration of hype cycles in fintech, the trough of disillusionment, and how technologies like AI are impacting the space.

Jim Maroos explores the pressures on traditional banks, deposit flight, and the stark differences in how fintech challengers like Monzo and Nubank are gaining ground globally.

The panel compares fintech growth in emerging markets like Brazil with developed markets, highlighting the unique opportunities and obstacles each faces.

Theo Lau and others delve into the risks and opportunities of AI in financial services, from fraud mitigation to ethical dilemmas like deepfake scams.

Brett King and Simon Taylor discuss the slow progress in generative AI applications for banking, legal challenges, and regulatory frameworks worldwide.

The conversation shifts to the fintech funding landscape, the implications of down rounds, and how AI integration presents new opportunities for startups.

Brett King outlines the rise of the “super wallet,” integrating identity, health, and financial data, and its transformative potential for consumer behavior.

The panel explores how AI is driving hyper-personalization, reshaping customer experiences, and embedding financial services into everyday life.

The hosts summarize key takeaways, speculate on potential black swans in fintech, and discuss how regulation and geopolitics may shape the future.

2023 was the hottest year on record in terms of temperature. ESG, sustainability, clean tech / green tech and corporate responsibility have been hot topics. Are we at war with climate? This week we feature Brett King’s recent sit down in Bangkok, Thailand with former banker, fintech investor and now venture capitalist, Paul Ark, with The Radical Fund, an early-stage VC fund investing in founders who are delivering climate resilience for Southeast Asia. Where are investment dollars going? Climate mitigation (how to prevent the world from getting warmer) and climate adaptation (dealing with a warmer world) and what it means for infrastructure resilience and food insecurity, to name some areas of concern, are top of mind. Climate is a complex systemic issue and requires a buffet of technologies to address, improve and help us reclaim our environment. It’s an enlightening conversation with The Futurists!

Read the entire transcript here.

Brett King introduces the episode and shares the significance of discussing climate disruption and sustainable investment strategies.

Brett and guest Paul Ark discuss his background in Asia, his work at Apple, and his transition to venture capital with a focus on sustainability.

Paul reflects on Southeast Asia’s delayed economic growth trajectory and its current potential for sustainable development investments.

A look at how Paul’s experiences in Apple retail informed his methodology for evaluating long-term opportunities in climate and green tech ventures.

Paul explains the global focus on climate mitigation, the underinvestment in adaptation, and the need for more balanced funding strategies.

The hosts debate what will trigger a global mobilization for climate efforts, comparing climate change’s urgency to wartime efforts.

Exploring potential technologies like geoengineering, regenerative agriculture, and circular economies to counteract climate challenges.

Paul shares insights into his Radical Fund’s mission to promote inclusive climate solutions, particularly integrating gender perspectives.

Closing with hope, Brett and Paul discuss how technological innovation and collective action can pave the way for a brighter future.

Brett wraps up the episode with information on how listeners can follow Paul Ark and learn more about the Radical Fund.

Should you increase your social media savviness to sell products? With digital acquisition reshaping financial services it’s certainly something to think about for your organization’s benefit. In this episode, host Brett King speaks with Dr. Robin Kiera, Founder and CEO, Digitalscouting about his book, Attention Hacking: The Power of Social Media Selling in Insurance and Finance. Listen as Dr. Kiera delves into the topic and shares industry examples, opportunities and his belief that you need to position yourself and your organization as influencers among your target market.

The premise is simple, you need to be where your customer is.

Read the entire transcript here.

Brett King introduces the episode and welcomes Robin Kira, author of Attention Hacking, to discuss the role of social media in finance and insurance.

Brett and Robin explore how the shift to digital banking is reshaping the financial industry and the implications for branch-based models.

Robin highlights the challenges of digital transformation in insurance, including regulatory hurdles, product complexity, and consumer reluctance.

A discussion on how financial institutions struggle with social media, why some succeed, and the importance of cultural adaptation in the digital age.

Robin shares key insights and actionable tips from his book on how companies can effectively leverage social media to connect with customers.

The conversation shifts to the dominance of short-form video platforms like TikTok and best practices for creating impactful content.

Brett and Robin address the ethical dilemmas of aggressive marketing tactics, transparency, and the importance of playing the long game in building trust.

The duo speculates on how social and environmental responsibility will become critical for businesses in a rapidly changing world.

Brett wraps up the episode with information on Robin’s book, Attention Hacking, and how listeners can connect with Robin for more insights.

Identity, and the future of it, continues to be a hot topic as digital adoption increases in all aspects of our lives. When you are verifying your identity, you want to do it with as little friction as possible and expect it to be fast, secure and compliant. In this episode, host JP Nicols speaks with Incode Technologies’ Domingo Guerra, EVP of Trust, and industry veteran with a strong background in cybersecurity and data privacy, about the latest innovations in verifying identity. User expectations are bigger than ever. Positive user experiences and biometric acceptance can make what once seemed scary less so, but are all biometrics created equal?

Read the entire transcript here.

Brett King and J.P. Nichols introduce the episode, welcoming Domingo Guerra from ENCODE to discuss identity verification and fraud prevention.

Domingo explains how biometrics have shifted from being perceived as futuristic to a mainstream method of secure authentication.

A look at how AI enhances identity verification processes, speeds up fraud detection, and keeps pace with evolving attacker tactics.

The discussion delves into synthetic identities, deepfakes, and the arms race between fraudsters and security technologies.

Domingo shares ENCODE’s vision of an “identity bureau,” enabling privacy-preserving collaboration across financial institutions.

Domingo outlines the shift from traditional Know Your Customer (KYC) practices to Know Your Business (KYB) and Know Your Employee (KYE) models.

Insights from various industries, including gaming, gig economy, and social media, on identity verification and fraud management.

A critical discussion on balancing user consent and privacy with the growing capabilities of biometric and identity technologies.

Domingo envisions a world where reusable digital IDs reduce fraud, enhance convenience, and empower user ownership of personal data.

Brett wraps up the episode with information on ENCODE’s services and Domingo Guerra’s insights into the future of identity verification.