Breaking Banks

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Today we feature a special anniversary episode of Breaking Banks with hosts Brett King, Jason Henrichs and JP Nicols looking back over 10 years and 500 episodes of Breaking Banks. Listen as the team reflects on highlights and their favorite moments, throughout you’ll hear from some special guests and hosts. Thank you to our loyal listeners for helping to make us the #1 global fintech podcast. Here’s to 500 more and continuing to chronicle fintech innovation around the globe.  Cheers!

https://www.youtube.com/watch?v=ZoQf1UNN4ac

In This Episode

Next week is the 500th episode of Breaking Banks. Every week since 2013 we've been featuring the innovators, players and personalities working towards a more innovative and inclusive financial future. We received so many comments on this special milestone we feature several in the second half of today's show. Be sure to tune in next week, as you do every week!, as hosts Brett King, Jason Henrichs and JP Nicols cover industry changes, highlights and their favorite moments over the past 10 years.

But first we start this episode by featuring sister podcast Finovate's interview on better understanding the competitive landscape with Financial Insights.

https://youtu.be/Uqn3BCRUK0c

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Host Jason Henrichs gets spicy, and sheds a few tears, with industry experts Alex Johnson, Creator, Fintech Takes and Amy Radin, Author and Executive Advisor to Enterprises and ScaleUps in this episode of Breaking Banks.

The wings are spicy and so is the conversation as they cover current economic challenges, the crypto meltdown, BNPL, value creation, down rounds for neobanks, and everything next! This episode is HOT!

https://youtu.be/YaFNv_XR4hU

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This week on Breaking Banks a crossover episode from The Futurists featuring the dynamic duo of  Robert Scoble and Brian Roemmele — prior Breaking Banks guests, tech evangelists, sought-after specialists, and highly regarded futurists. Listen as they dive into the implications of Apple’s Vision Pro with hosts Brett King, Katie King, and Brian Solis. They riff and discuss what it all means for computing, experiences, even detailing the experience of wearing the Vision Pro, the breakthroughs Apple had to make to get this far, and what likely comes next. 

https://youtu.be/J2DczXytsgw

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Meet Breaking Chains Crypto, a new podcast In the Breaking Banks/Provoke.fm family of podcasts that is hosted by Yield App. BreakingChains Crypto covers the news, rumors and developments in Crypto, DeFi, Web3 and what makes the industry tick. Breaking Chainsbrings an insiders perspective on the true secrets and developments, what really makes a difference in the industry, and how the most exciting coins, tokens and verticals to emerge from the industry will change the world.

In this episode, Rhys and Lucas Kiely, Yield App’s Head of Web3 and CIO, along with Ajit Tripathi, strategic advisor at Polygon Labs, discuss the current landscape and share reasons why they think the battle of the L2s is only just starting, how Chat GPT – whileincredibly useful – has striking similarities to a Big 4 consultant, and why South Korea has shown evidence that it is fertile ground forproducing some notable degens.

https://youtu.be/nijGlwHrWto

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This week it's a Breaking Banks and FInovate podcast mashup as fintech luminaries opine on Finovate Spring (San Francisco). Listen as respective hosts Brett King and Greg Palmer, also VP and Director of Fintech Strategy, The Finovate Group dish with Mary Wisniewski, Editor at Large, Cornerstone Advisors; Alex Jimenez, Managing Principal, Financial Services Consulting; Theodora Lau, Founder, Unconventional Ventures and Deva Annamalai, Founder/CEO of  RightFrame Consulting, a Bespoke Fintech Payments Consulting firm, and talk trends, highlights, surprises, opportunities and make a few predictions along the way.

Then Brett speaks with KakaoBank CEO Daniel Yun. KakaoBank, a South Korean neobank, is one of the most successful challenger banks out there today. Started in 2017 with a small team and through joint venture, it had 1 million customers within its first few days. Today, KakaoBank has 26 million customers and is one of the most profitable challenger banks globally. There's much to celebrate as it looks to the future and ways to innovate, expand and continue its success.

https://www.youtube.com/watch?v=6vIgzqN13Sc

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With 80% of Americans never defaulting on a loan but less than half having a prime credit score, today we spotlight an episode of sister podcast and NextGen Banker host David Reiling's conversation with accidental banker and Leaders in Lending host, Jeff Keltner, also SVP Business Development at Upstart as they talk about using AI or predictive algorithms to improve access to affordable credit with less risk to banks, and how this technology uses larger sets of data to help understand the real risk. Tech doing its magic and continuing to make an impact.

Then we turn to another Provoke.fm podcast and Finovate host Greg Palmer's conversation with Jacqueline Baker, author, podcast host and leadership consultant, about her recent book, The Unexpected Leader: Discovering the Leader Within You. To lead it's imperative to see yourself as a leader right out of the gate. There are of course always headwinds, but everyone can be a leader, and with four levels of leadership there are many opportunities. Interestingly many of the best leaders are those that have leadership thrust upon them. You may be our next great leader! Enjoy the episode!

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

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Society has grown more complex and polarized, with this comes an increased likelihood of complicated disputes. How is the legal industry evolving to deal with a hyper connected society? Dr. Cain Elliott, Head Legal Futurist, Filevine and advisor to chatbot and  generative AI platforms connects with The Futurists hosts Robert Tercek and Brian Solis to delve into the legal issues around AI, not only regulatory but inside corporations with respect to how AI should be managed. With the profession digitizing to move faster and operate more efficiently, AI will have a significant impact from automation of legal functions to smart contracts. Listen as they cover the broken business model of legal services, the political and regulatory barriers to change and the transformative potential of legal tech.

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

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This episode begins with a special Breaking Banks mashup as Brett King and Breaking Banks Europe's Matteo Rizzi connect with Andres Perez, Co-Founder and Director, Fintech Association of South Africa, a young non-profit born from the race to digitization, not a battle between banks and fintechs. The three year old association is dedicated to promoting and supporting the growth and development of fintech in South Africa, and is enjoying nice traction. A population of 43 million, South Africa is in a unique position with 96% of its population financially included. Recent investments and strong support indicate that there's opportunity to be had in South Africa's unique ecosystem. Finasa.org.za is helping champion responsible innovation, and the ability to make more of an impact through collaboration. while developing and upholding best practices and standards that prioritize consumer needs and data privacy.

Then Brett turns the focus to LatAm with a model problem that will be increasingly looked at around the world as he speaks with Yoel Gavlovski, CEO and Co-Founder, QUASH.ai, a Miami-based startup and Fintech Americas winner that is focused on an alternative approach for credit scoring and lending targeted to emerging economies. For financial institutions seeking to increase credit origination to the underserved who have thin credit files, or low to no credit reference information, Quash.ai is finding different ways to get more information on clients, transforming data and using advanced analytics to turn these clients into low risk creditworthy borrowers. Prediction as a Service, adding capacity for FI's for better lending, using large learning models, has increased inclusion for many who would previously have been rejected. How's this for a stat: in performance analysis, since implementation, 20% of the people who previously would have been rejected, have now been included with no added risk to the lending institutions.

https://youtu.be/3IPFWvk2QRA

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Relationships are important, in all aspects of life. The nature of relationships is changing -- trust is a big factor in any relationship. Just like with partnerships one needs to be reliable, consistent, relatable, and credible, and there needs to be interest from all parties. In this episode, Brennan Andrews, Marketing Director, Dart Bank and James White, General Manager, Banking, Total Expert speak with Jason Henrichs about relationships in banking. They touch upon how during this downturn banks may need to rely on things like relationship lending & pricing to keep customers loyal. What is old is new again. Banks need to get back to building strong relationships with their customers, a solid relationship can be a competitive advantage and knowing your customer makes it easier to provide personalized financial wellness. It's time to be proactive and predictive, unlocking the power of data to rethink value and how best to deliver it. It's back to basics and competing on more than just rate. Personalization, if wrong can be worse than doing nothing, it all comes down to solid relationships!

Then, vendors can be great partners, an opportunity for financial institutions is the optimization of these relationships. In our second half, Jason connects with Cyrene Wilke, Horicon Bank's CIO and Patricks Sells, True Digital Co-Founder on the topic of vendor selection and partnerships. You may be surprised to hear that success is not always about picking the right partner, sometimes it's as simple as progress over perfection as no one benefits from analysis paralysis. Traction is good. Risk and compliance do of course factor into vendor selection. Banks need to be innovative, but aware of the rules. You can do great things but need to do it in a safe manner. The number of vendors banks work with, transactionally and symbiotically, adds to complexity, but the network effect can be beneficial as banks aim for best in breed and look to approach things from different perspectives. Relationships are key and banks also need to collaborate and learn from each other. It's a delicate dance.

https://youtu.be/opww89WAXic