Breaking Banks

Fintech has gone from sideshow to the mainstage. Digital is no longer the accompaniment to soloist. Today on the show - Peter Ramsey just won the American Idol of fintech when he documented the user experience opening 12 bank accounts in the UK. He shares with us the surprises along the way as well as his UX pet peeves. In the second half, Patrick Sells was just named Digital Banker of the year by American Banker. Ironically, 18 months ago he wasn’t a banker at all. How did he drive so much success in such a short time at a community bank? He started with mission and culture.

Fintech has gone from sideshow to the mainstage. Digital is no longer the accompaniment to soloist. Today on the show - Peter Ramsey just won the American Idol of fintech when he documented the user experience opening 12 bank accounts in the UK.

The novel coronavirus isn’t just a health pandemic, it is highlighting critical social and economic issues. Nowhere is this more apparent than the paycheck protection program. Today on the show we talk about lessons learned from the last crisis, some of the lessons we should have learned but haven’t and how banks, fintechs, and regulators are responding. We have 4 guests today - Zach Warmbrodt, Financial Services Reporter for Politico talking about his view from Washington, Jill Castilla, CEO of Citizens Bank of Edmond and Brandon Dewitt, CTO & Co-founder of MX talking about their partnership to help main street and last, Patrick Davis, of Community Reinvestment Fund - a non-profit that acts like a fintech to bring lending to underserved communities.

Air Date: Thursday, June 4, 2020

Air Time: 3:00 PM ET

Headline: Good Policy, Good Banking

Summary: The novel coronavirus isn’t just a health pandemic, it is highlighting critical social and economic issues. Nowhere is this more apparent than the paycheck protection program. Today on the show we talk about lessons learned from the last crisis, some of the lessons we should have learned but haven’t and how banks, fintechs, and regulators are responding. We have 4 guests today - Zach Warmbrodt, Financial Services Reporter for Politico talking about his view from Washington, Jill Castilla, CEO of Citizens Bank of Edmond and Brandon Dewitt, Co-founder & CTO of MX talking about their partnership to help mains street and last, Patrick Davis, of Community Reinvestment Fund - a non-profit that acts like a fintech to bring lending to underserved communities. 

Show Sponsors:HarrysJack Henry & AssociatesShippo Alpharank

Show Hosts:Brett KingJason Henrichs

Show Guests:Zachary WarmbrodtJill CastillaBrandon DewittPatrick Davis

TOPICS DISCUSSED:

[2:20] Zachary Warmbrodt says banks have fared better during the COVID-19 crisis than in 2008 during the recession. 

[4:55] Could the level of inequality we are experiencing in the United States right now lead to a revolution? Will the Federal Reserve play a larger role in this mission?

[10:00] There was a lot of concern and chaos around the PPP Program, are policymakers helping smaller banks reach the underserved communities?

[12:00] Brett King speaks about financial inclusion and the CRA. 

[15:20] When are we going to see technology take on a more prominent role in financial inequality. Especially banks and fintechs. 

[21:00] Will we see a change in the strict regulatory requirements put on financial incumbents in the United States?

[32:50] Brandon Dewitt speaks about the nobility of banking. 

[41:00] Jill Castilla talks about being on the frontlines of the PPP and joining with MX to better serve their customers.

[47:14] MX went to community banks and provided open-source software free of charge in order to serve small businesses for the greater good. 

RESOURCES MENTIONED:MXCitizens Bank EdmondCRF USAPoliticoFederal ReserveTrump AdministrationSmall Business AdministrationFDICGoogleRakutenMark CubanAmazonDana Farber

Breaking Banks is the #1 global fintech radio show and podcast, created by Brett King. Tune in for a look at how technology and customer behavior will bring about more changes in banking in the next 10 years,

The novel coronavirus isn’t just a health pandemic, it is highlighting critical social and economic issues. Nowhere is this more apparent than the paycheck protection program.

Changpeng Zhao, aka “CZ”, CEO and founder of Binance joined us for this special Breaking Banks and Crypto Capsule Collab. Brett King, Henri Arslanian and Ajit Tripathi had an interesting and insightful conversation with CZ about the future of the crypto industry in a post-COVID-19 environment. This is a must-listen episode! Be sure to catch Henri Arslanian’s weekly Crypto Capsule show on LinkedIn where he shares the weekly crypto developments with his half-million followers. Tune in for Breaking Banks Europe to hear the latest in fintech and crypto from Ajit Tripathi. To learn more about Binance, the global blockchain company behind the world’s largest digital asset exchange by trading volume and users, visit Binance.com

Changpeng Zhao, aka “CZ”, CEO and founder of Binance joined us for this special Breaking Banks and Crypto Capsule Collab.

In this week's show, regular contributors Robert Scoble and Brian Roemmelle are back, with Robert's co-author on his latest book, Irena Cronin joining us also. Katie King (aka Miss Metaverse) sits in the co-hosting chair as a fellow futurist. We get into smartglasses, sensors, flying cars, autonomous robots, and supply chain, training surgeons on 3D cadavers, and e-sports. All in the domain of a new field of computing called Spatial Computing - and it's going to be YUGE!!

In this week's show, regular contributors Robert Scoble and Brian Roemmelle are back, with Robert's co-author on his latest book, Irena Cronin joining us also. Katie King (aka Miss Metaverse) sits in the co-hosting chair as a fellow futurist.

Small Businesses are the lifeblood of the global economy, listen as Michael Abare- Principal Product Manager for Fusion Digital Banking at Malauzai, a Finastra Company explains how the Finastra ecosystem enables financial institutions to reach and assist more small business clients. Then for the second half, Jason Henrichs hosts Derik Sutton VP Marketing of Autobooks to learn how Autobooks has been able to free up more time for small businesses to take care of the more important things in life and the launch of their “Get Paid with Autobooks” initiative.