Breaking Banks

Banking leaders aren’t confident that they have the tools in place to effectively serve Generation Z customers, those born between 1997-2012. David Stillman, Founder of GenGuru and co-author of Gen Z @ Work says this lack of confidence is well-founded. He draws on his decades of research to talk about the challenges of meeting the needs of five different generations of customers, why Gen Z doesn’t want work/life balance, and how Gen Xers can avoid making the same mistakes with Gen Z that the Boomers made with Millennials.

https://www.youtube.com/watch?v=SjcG-AtPy3k

In venture timing is everything, it can make you or crush you. Listen as host Amber Buker speaks with former entrepreneur, CEO, current investor, active board member for public companies, and General Partner, Ken Denman, Sway Ventures about his varied career. He thoughtfully shares executive, strategic and operational insights from his experiences, and touches upon his love of looking around corners. In a tough market like today, you need to give yourself a runway (24 months may be the new 12 months!), figure out the North Star and keep your eyes wide open as to what the future holds. Great companies are built in downturns.

https://www.youtube.com/watch?v=rAhORmw3yNo

Regulatory scrutiny as it relates to banks and fintech partners is starting to get hot as regulators get more vocal. This week on Breaking Banks, Jason Henrichs covers this and more with his guests Kirsten Muetzel, Chief Risk Officer, Fundid; Keith Evans, VP, VMO, First Northern Bank; and Clayton Mitchell,  Principal, Crowe LLP.  Listen as they discuss the regulatory complexity of creating fintech partnerships, vendors as partners and the value of these partnerships as financial institutions work their way down the Yellow Brick Road.

Then, Dara Tarkowski, host of Provoke.fm's Tech on Reg speaks with Resolver's  Amanda Cohen, Director of Products about Reg-Tech and risk management. Resolver is changing the landscape of risk management by analyzing risk data in context to use risk as strategy in business development. By leveraging this type of tech, modern businesses are now able to keep a pulse on the regulatory market and transform into risk-intelligent entities.

https://youtu.be/Sbl6LHkAlKY

Host Jason Henrichs kicks today's episode off with song — it's not to be missed and neither are the conversations with Michael Kitces, Nerd's Eye View and then Theodora Lau, Unconventional Ventures. The markets are a bit frightful and there is strain on individuals and financial service providers. Our guests address the role of technology and empathy.

Michael covers the role tech plays in financial planning. Much has been said of robo-advisors but there are parts of the process and the trusted advisor relationship that can't be digitized. Tech makes you efficient but advice delivery, expertise and deep financial advisor relationships can't be automated. Tech doesn't supplant the human, it augments the human relationship, the right combination changing individual trajectories.

Money is emotional and current situations have people stressed. Theo addresses empathy. People need help managing money; many don't have the right data, tools to take action, and lack discipline. Debt is going up and, with record inflation, savings are dwindling. A recent Tik Tok trend shows younger generations budgeting the way the Greatest Generation did...a.k.a. the envelope method. How do we help people understand implications before it's too late? We need to keep learning, Tech and empathy-- opposite ends of the spectrum -- are they at odds?

https://youtu.be/zNPN51DXchE

In honor of Native American Heritage Month and Day (11/25) we have an incredible episode hosted by Amber Buker and Jason Henrichs. First, Amber speaks with Dawson Her Many Horses, SVP & Head of Native American Banking about Wells Fargo's new report on Indian Country’s Once-In-a-Seven Generation Opportunity. Wells Fargo is a leading provider of capital for the native american and Alaska native markets banking 4 out of 10 federally recognized tribes in the US, equating to roughly $3B in credit commitments and $3.9 billion in deposits. Incredible but often invisible opportunities exist to partner with tribal economies.

Then Jason sits down with Amber to talk about what inspired her to start Totem. You need only listen to the founding story and Amber's interest in aligning opportunities with mission to understand. What better way to help others than by starting an identity-focused bank! Totem, a truly mission driven company, supporter and advocate for native culture with a goal to create pathways to financial inclusion for Native Americans through digital banking — closing gaps in service in this market, taking friction out of the system and creating value. Banking by and for Native Americans, the fastest growing racial demographic on the 2020 census (160% population jump vs. 2010).

Yakoke (Thanks in Choctaw) for listening, enjoy the episode!

https://youtu.be/-LUp03vgM4M

The party goes on....or does it? Are we back to normal before things went crazy? Jason kicks this episode off with a conversation with Jason Mikula, Fintech Business Weekly. They dive into one of JH's favorite topics....interchange! Listen as The Jasons discuss payments, rewards, mobile wallets and the rise of commerce players (Walmart and Amazon) becoming more fintech focused with what they do.

Then JP connects with Nick Chandi, CEO and Co-Founder, Forward AI created to solve SMB cash flow problems. It's difficult for small businesses to share their accounting data with banks and other financial players to speed access to secure financing. Forward AI’s API enables SMBs to connect in an easy way to share data and bridges a gap for financial institutions, lenders and other fintechs to help SMBs stay financially healthy.

https://www.youtube.com/watch?v=Y3K__IiPhHI

This week JP Nicols continues exploring the risks and opportunities in the global economy and how to balance fraud and friction with these live recordings from Money 20/20 in Las Vegas.

We start in Latin America, with Sergio Almageur. Founder and CEO of Yaydoo, which simplifies finance with its B2B payment automation tools and helps small businesses manage invoices, payables, receivables, and cross-border payments.

Then we connect with Misha Esipov from Nova Credit and discuss how they’re addressing the challenges of immigrants and expats getting credit in the U.S. Listen to learn how to unlock opportunities for those historically excluded from the credit system and companies looking to serve them, and how Nova Credit recently partnered with HSBC to provide the bank with global access to its cross-border credit data product.

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

If you want to play the game, learn the players. Listen as Amber Buker records live from the MoneyPot podcast booth at M20/20 with Kelsey Weaver, a Founder, Investor, Bank Board Member and Philanthropist, and Siya Vansia, SVP, Chief Brand and Innovation Officer, ConnectOne Bank. The OG Fintech Girl Gang members share insights on what fintechs need to do as investment dollars tighten and how bank investors are creating new paradigms that recognize value is not the same as valuation.

Then, futurist and humanist Gerd Leonard joins Brett King and Robert Tercek to talk about a positive future, one that is inclusive, sustainable and purpose driven. What kind of world do we want? As talk turns to putting things in action and global perspectives, they cover tech & reboots, regulation, NFTs and crypto.

https://youtu.be/Gp2e4ZsRo94

Everyone talks about reducing friction, but could there be too much of a good thing? New research shows that in processes like account opening making it too easy actually reduce’s the customer’s confidence. Today’s theme is about balancing fraud and friction in the global economy… in identity verification, onboarding, payments, payroll, and more.  First JP Nicols talks with Michael Ramsbacker, Chief Product Officer from Trulioo, then Eynat Guez, Cofounder and CEO of Papaya Global joins the show.These are the first of several interviews from Money 20/20 in Las Vegas, where we’re recording live. In coming shows you’ll  hear more interviews from Jason Henrichs. Amber Buker, and Chloe James with other experts and entrepreneurs.

https://youtu.be/xMZx8qVbeps

A boutique bank with a big vision! Seattle Bank's Josh Williams, EVP Chief Banking Officer and Head of Partnerships speaks with Jason Henrichs about Seattle Bank's forward-leaning approach and how they are leveraging tech to guide BaaS partnerships. Call it BaaS' second era, they talk about the next iteration of BaaS, embedded finance, and what banks have to get right if they want to compete in the space. Seattle Bank is keeping its eye on the puck and where it's going as they continue to solve client and market problems.

Then, "Deep Tech" is transforming every industry. Tricia Martinez, Managing Director Techstars, Industries of the Future Acceleratorcovers Deep Tech. What is Deep Tech? Tech that addresses deep engineering and science driven problems such as AI, biotech, quantumcomputing...tech with potential to revolutionize industry and problems our world is up against. As an example we connect with Spiky.ai’s Co-Founder Furkan Eris. Spiky.ai powers and increases the engagement of forward thinking companies with the goal to use data to empower everyone. Trust and human connection is so important in financial services, as things go more digital, how do you ensure effective communication, improve management and assessment, and make the most of your team, with the goal to get the best out of everyone? Forward-thinking tech!

https://youtu.be/9us83y5WjZ0