Breaking Banks

In This Episode

This week we start with a special segment as we head to SIBOS 2023 in Toronto and prepare for a panel discussion for the Future of Money. We look back over 10 years, pulling clips from prior Future of Money panels, the flagship session for SWIFT Innotribe for many years. Next week we will bring you the highlights from this year's Future of Money panel. It's a two-parter, so stay tuned!  Spoiler alert: as we look back there wasn't much that the various panelists got wrong, in some cases the timing was off, but in most they were spot-on as they discussed the digitization of the banking sector and the explosion of banking through the world.  

Then host Brett King connects with award-winning author and tech investor Alex Tapscott to discuss Alex's new book Web3: Charting the Internet's Next Economic and Cultural Frontier.  Referred to as an essential introduction and guide to navigating the next internet revolution, the book and discussion covers everything from the metaverse and NFTs to DAOs, decentralized finance, and self-sovereign identity. The Web and the Internet are entering a new age where individuals own their own identities and can securely trade assets like money, securities, intellectual property and art peer to peer.  Web3 promises to shake up business, it is the internet's new frontier.

Enjoy the episode!

https://youtu.be/MlrixyFaD2w

In This Episode

It is always exciting when one can do good by combining personal experience, knowledge, need and work to create something for the benefit of many. This is exactly what Citizens Bank of Edmond President and CEO Jill Castilla did with Roger (think military term indicating message received). Listen as Jill and Jason Henrichs discuss how the bank launched a digital bank for military recruits -- entry-level recruits many of whom enter basic training without bank accounts. The lack of an account can delay training start date and a recruit's first paycheck, and financial stability, predatory lending and financial literacy can be threats to military readiness. It's a fascinating success story.

Then, as it is FinovateFall, we feature a Finovate conversation between 'MC' Greg Palmer and Elizabeth McCloskey, TruStage Ventures, where they cover the fintech funding landscape specific to Credit Unions and DEI Initiatives.

https://youtu.be/8G7zuQFBzj0

In This Episode

When does a fintech become what they set out to disrupt? 

Is it when they start offering bank-like products? 

Get a banking license? 

Is it when they go all-in and buy an actual bank? 

In this episode sister pod, Breaking Banks Asia Pacific, asks whether this is good, bad, or something else for competition. The Asian Banker founder Emmanuel Daniel says fintechs struggle to maintain their innovative edge when they get sucked into the bid to become a bank, and Wise’s Surendra Chaplot believes you can be bank-like and still forge a path that is sensitive to customer needs. What do you think?

https://youtu.be/onpSzYTTCM8

In This Episode

This week FinovateFall Master of Ceremonies Greg Palmer and host of Provoke.fm's Finovate podcast gives a taste of things to come as he shares two conversations with FinovateFall keynoters Luke Williams, NYU Stern School of Business Professor and Author of Disrupt, and Manas Chawla, Founder of London Politica. No spoiler alerts here, so you'll need to listen to the episode and come to FinovateFall NYC September 11 -13th to hear Luke talk about Disrupt and Innovation, and Manas talk about Geopolitical Risk and Gray Rhinos.

https://youtu.be/eg34z-Cfizc

In This Episode

John Pitts, head of Policy at Plaid, and Jason Henrichs were recently talking about open finance and the Interagency Guidance on Third Party Due Diligence -- no doubt these are hot topics in your house like they are in ours -- and the idea to record some Hot Takes  came to life. In the time it took to ship out Breaking Banks hot sauce, the Federal Reserve Bank decided to do its own hot take and create a supervision program for “Novel Activities.” Jonah Crane, partner at Klaros Group, former regulator in residence at the Fintech Innovation Lab and longtime regulator at the US Department of Treasury joined in on the fun and Dara Tarkowsi, partner at Actuate Law and host of Provoke.fm's Tech on Reg podcast accepted the challenge to co-host with Jason for the first half.

Then, if that wasn’t hot enough, in the second half, Frank Rotman, co-founder of QED Investors, 5x Forbes Midas Touch investor and Jason talk about building in the upcycle vs. building in the now cycle. Frank brings the heat and great insights!

https://youtu.be/hHK1Ey_v7OA

In This Episode

The Metaverse Economy: How Finance Professionals Can Make Sense of Web3 is Arun Krishnakumar and Theo Lau's new book. Listen as Brett King connects with Theo Lau, frequent guest and Founder, Unconventional Ventures. The metaverse is evolving, the way the metaverse is now, is not close to where it will be. The book is designed to equip fintech professionals with an in-depth understanding of the emergent economic models in the Metaverse and across Web3, and also understand the risks associated with the Metaverse and help these professionals prepare for what lies ahead in this immersive environment. The concept of community in the metaverse is important, we don't want to leave people behind.

Then Brett and Jason Henrichs shift the subject to talk about recent fires in Greece (sadly we can also add Maui to the list), the Impact of these fires and the EU response to climate change with author and influencer Dr. Leda Glyptis. July 2023 just scattered the record for the hottest month, per NASA, since 1880. There is no denying that climate change is here. Some of these extreme events are naturally occurring, others man-made, but the number and extent of these occurrences is increasing and there are concerns of irreversible desertification.

Banks and regulators need to be front and center, and take more of a stance. In natural disasters the financial system sometimes breaks down -- financial inclusion and financial access are concerns. Major systemic banks in Europe are asking themselves the hard questions, not just taking superficial steps. The cost for these extreme weather events is growing exponentially, economics are in play. Covid made people realize there are no boundaries, it's everyone's problem. Climate change also doesn't stop at borders, a similar degree of focus and urgency is needed. Will Europe lead?

https://youtu.be/scHsKDRFP2Y

In This Episode

Rising interest rates caught many by surprise. We saw some banks fail, Fintech venture funding dropped 50% year over year. IPOs were pulled. M&A for banks and fintechs are in limbo.

Many say this is nothing short of an innovation nuclear winter unlike anything we've seen before. For others, this state of the world seemed vaguely familiar before a decade plus of Zero Interest Rate Policies. Except, it isn't just a reversion to the mean. There are many structural differences from 2008 and 2000 before that. It feels familiar, but are we really entering the Twilight Zone of Fintech? Is it a dystopian future or will there be an unexpected twist?

Listen as Jason Henrichs hosts another HOT (yes, we added some spice!) episode with Rahul Baig, Managing Director, Head of Venture Capital Coverage at Wells Fargo, Sarah Hinkfuss, Partner at Bain Capital Ventures, and Amias Gerety, Partner at QED investors. There was plenty of hot sauce to go with the Hot Takes and debates. Amias even shares his secret recipe for the homemade sauce he was sipping.

https://youtu.be/tpM_UJx_9Tc

In This Episode

This week Brett King and JP Nicols are joined by the infamous Ron Shevlin, Chief Research Officer at Cornerstone Advisors and Forbes' Author of Fintech Snark Tank. Listen as they talk about Ron’s latest Forbes articles that have created some buzz! From The Checking Account War Is Over (And The Fintechs Have Won) to The Banking Crisis Has Only Just Begun, they have lots to discuss before they get into what banks need —  is it Innovation or is it Invention or Just Growth? 

Then Greg Palmer host of Provoke.fm's Finovate podcast begins his FinovateSpring Best of Show winner spotlight series with a conversation on the future of biometric payments with Deepak Jain, Founder & CEO, Wink. Additional best of show interviews can be found on provoke.fm/show/finovate

https://www.youtube.com/watch?v=-XZUToGk7Q0

In This Episode

Welcome to this week's episode of Breaking Banks where we feature pieces from cohosts and Provoke.fm sister podcasts NextGen Banker and Tech on Reg.

First, David Reiling, host of NextGen Banker, interviews Sheel Mohnot cofounder of Better Tomorrow Ventures, discussing Sheel's first foray into the fintech world with a non-profit and why he’s dedicated his career to making the consumer experience better. Spoiler alert, they also talk about his recent viral wedding in the Taco Bell metaverse.

Then we shift to Biometric Signatures: The Digital Dotted Line, and Dara Tarkowski’s conversation with Matthew Gibson Co-Founder of Syngrafii. From virtual signing rooms to remote pens and more, they cover the digitization and compliance of signatures and the changed landscape of biometric signature capabilities.

https://www.youtube.com/watch?v=fIg9avTcTS0

In This Episode

Live from Guatemala, Brett connects with execs from Plus TI at the Monitor Plus Conference to talk about financial crime and how AI, data sharing, real-time monitoring and the balance of human and machine learning can prevent fraud, boost bank business and benefit customers.

Then, close to 90% of the world’s carbon emissions come from coastal and marine ecosystems, but there is ambiguity on how exactly to measure, manage and take advantage of its protection towards the creation of credits. In this segment from Breaking Banks Europe, host Roberto Capodieci connects with Cerulean Ventures Co-Founder, Jahed Momand. Listen as they talk carbon credits and dive into unlocking the blue carbon credits marketplace.

https://youtu.be/RdumATIhnNY