Breaking Banks

This week on Breaking Banks Jason Henrichs hosts John Weinkowitz from our sponsor Finastra and Tom Feher from Microsoft to discuss Finastra’s pinnacle core, Fusion Phoenix. Tom and John explore how Microsoft’s Azure Cloud has enabled Finastra to lead the pack in utilizing the cloud to help banks innovate faster and more efficiently. Then, stay tuned as Jason Henrichs speaks to, Sherri Davidoff CEO of LMG Security, about security challenges faced by industries on the bleeding edge of technology. Sherri explains how financial institutions can elevate innovation efforts while also remaining secure.

Show Hosts: Jason Henrichs

Show Guests:Sherri Davidoff CEO of LMG Security Tom Feher from Microsoft John Weinkowitz from Finastra 

Sponsored by Finastra

TOPICS DISCUSSED: [3:20] How has Finastra embraced cloud technology and how have they leveraged it to make it easy for banks?

[3:50] Why did Finastra go all-in on cloud computing technology?

[6:17] Were the bigger banks the first to invest in cloud technology and is the playing field being leveled by fintechs?

[10:15] Are we seeing a large number of banks considering migrating to the cloud since the COVID19 crisis?

[13:02] Customers are increasingly demanding self-service features from their financial institutions.

[17:20] Banks are getting really smart about security as they open up to new opportunities and partnerships.

[20:00] Finastra customers are realizing the value of KYI, plug and play technologies, and the importance of actionable data.

[23:30] Leveraging data to lower risk and find new opportunities is of value for Finastra clients.

[29:43] Jason makes the point just because you can physically touch a server does not mean it’s more secure.

[31:20] Sherri explains that the cloud has both the ability to be secure and insecure. It’s important to vet your provider.

[36:00] Sherri discusses two-factor identification in detail.

[41:45] Would it make sense to have hardware tokens?

[42:20] Is regulation keeping up with how banks view cybersecurity and technology?

[48:02] Security assessments are valuable in today’s climate for organizations and consumers.

RESOURCES MENTIONED: Microsoft Azure Finastra Zelle Lyft UberLMG Security Verizon ATT TMobile

Breaking Banks is the #1 global fintech radio show and podcast. Tune in every week for a look at how technology and customer behavior will bring about more changes in banking in the next 10 years, than in the last 200 years. Subscribe at Provoke.fm or wherever you get your podcasts.

FULL TRANSCRIPTION

Announcer:

Financial technology or fintech is one of the fastest growing industries in the world today with New York, London, Tel Aviv, Edinburgh, Singapore, Moscow, and other major cities all buy in for a piece of the action. Welcome to Breaking Banks; the first dedicated radio show that focuses on how this new boom is changing everything from the way we bank to the very concept of money itself. Now, here’s your host, Jason Henrichs. 

Jason Henrichs:

Today on the show, talking about cloud, specifically financial services in the cloud. Now, historically, when we bring up cloud within financial services, the debate can take on religious proportions. Tech evangelists sing the praises of the architecture, compliance departments scream it’s not secure, IT departments feel more scared when they can physically go hug that box that’s running code in the cage. Until recently, I think everyone felt more secure when remote access was locked down. Now, current circumstances can show that if everyone has to come into the bank in order...

This week on Breaking Banks Jason Henrichs hosts John Weinkowitz from Finastra and Tom Feher from Microsoft to discuss Finastra’s pinnacle core, Fusion Phoenix.

On this Special Episode of Breaking Banks we spoke to bankers about why they love what they do and highlighted the importance of purpose in digital advancement.

On this Special Episode of Breaking Banks we spoke to bankers about why they love what they do and highlighted the importance of purpose in digital advancement.

Show Hosts:

Jason Henrichs

Show Guests:

Mary Kate Loftin of M&T Bank

Curt Queyrouze of TAB Bank

TOPICS DISCUSSED:

[2:40] In today’s landscape does digital banking take the humanization out of banking?

[4:50] Mary Kate Loftin talks about looking ahead in innovation and M&T Bank’s partnership with MX.

[6:45] How should banks manage employee happiness during the COVID19 crisis?

[11:52] Mary Kate talks about the increase in usage of Zelle during the coronavirus pandemic. 

[14:55] Jason asks Mary Kate does meaning and purpose account for a happier workplace? How do the customers benefit when bankers are happy?

[17:10]  What does it take to bring surprise and delight from a banking product?

[25:00] Jason asks Curt Queyrouze why he chose to become a banker.

[30:02] Is there a difference in passion between banks and fintechs?

[33:12] Curt says it’s important to take purposeful risks in technology.

[34:05] Utilizing a jobs-to-be-done mentality can help solve customer problems and issues.

[35:15] How do you get an internal culture to change their mindset around the fear of failure?

[44:00] How important has it become for banks to hire passionate people to be bankers and be able to adapt to change?

RESOURCES MENTIONED:

MX 

M&T Bank

Adobe Analytics

Microsoft Teams

Trello

Zelle

Instacart

Docusign

TAB Bank

Jack Henry & Associates

Show Sponsors:

Breaking Banks is the #...

The impact of the COVID-19 novel coronavirus has been both global and catastrophic, as both a public health crisis and as a worldwide economic crisis. Dealing with the health risks will continue for a while, but what’s likely to last even longer are the economic effects, and those always have a big impact on the financial services industry. We talk about who’s winning and losing today, and over the long run in a dramatically changing world.

Show Hosts:

JP Nicols

 

Show Guests: Ron Shevlin, Penny Crosman, Jim MarousTOPICS DISCUSSED:[2:30] Are payment processors fairing well during the COVID-19 pandemic?

[4:00] Organizations that were further ahead in digital efforts have been able to be more agile in servicing customers.

[8:02] Ron Shevlin discusses his latest study regarding small business banking. 

[13:30] Jim Marous highlights the importance of being a data-first organization. 

[15:00] We are seeing numerous lawsuits against banks for how they processed PPP loans.

[18:05] Should the government have waited 24-48 hours to roll out the PPP platform?

[21:08] Many small businesses are struggling with the payroll portion of the PPP program. Will they struggle to get forgiveness?

[23:12] Ron Shevlin discusses his article https://www.forbes.com/sites/ronshevlin/2020/05/04/the-looming-paycheck-protection-program-forgiveness-nightmare/#15388a5e2e25

[33:30] What does consolidation in the financial industry look like moving forward?

[40:57] Will we see more deployment and resources reallocated to digital experiences post COVID-19? What does this mean for branches?

[46:50] What is the potential for ITM’s and virtual assistants in the near future?

 

RESOURCES MENTIONED:

Cornerstone Advisors

The Financial Brand 

American Banker

Forbes

Stripe

Square

PayPal

True Accord 

Verizon

TD Bank

Bank of America

 

Show Sponsors:

ExpressVPN

Jack Henry & AssociatesBreaking 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, than in the last 200 years. Listen every Thursday at 3pm eastern time, noon pacific on the VoiceAmerica Business Channel. Subscribe at Provoke.fm to hear the show nearly 2 million listeners from 72 countries are raving about.

FULL SHOW TRANSCRIPTION

Announcer:

Financial technology, or fintech, is one of the fastest growing industries in the world today,

The impact of the COVID-19 novel coronavirus has been both global and catastrophic, as both a public health crisis and as a worldwide economic crisis.

John McAfee joins hosts Brett King, Miss Metaverse (Katie King), and Dave Birch on the 7th Anniversary episode of the #1 Fintech podcast and radio show. Little did we know back in May of 2013 that this thing would turn into the global phenomenon that it has been. Now, let’s get a little out there as McAfee talks about the similarities between computer viruses and COVID-19.

Air Date: Thursday, May 7, 2020

Show Title: 7th Anniversary Special

Summary: John McAfee joins hosts Brett King, Miss Metaverse (Katie King), and Dave Birch on the 7th Anniversary episode of the #1 Fintech podcast and radio show. Little did we know back in May of 2013 that this thing would turn into the global phenomenon that it has been. Now, let’s get a little out there as McAfee talks about the similarities between computer viruses and COVID-19.

Show Hosts:

Brett KingKatie KingDave Birch

Show Guests:John McAfee

TOPICS DISCUSSED:[2:00] John McAfee discusses politics and government bailouts and the fallout for years to come.

[4:15] Brett King asks if there is a disconnect between the economy and stock market performance.

[6:00] John McAfee talks about life lessons to be learned about trust, disparity, and capitalism.

[9:14] Lower to middle-class households are being hit hard economically and healthwise during COVID-19.

[10:12] Should people rely more upon data than the news media?

[14:20] Did we fail as a country when it came to risk and pandemic planning? 

[16:00] John McAfee understands the mathematics of the spread of viruses. 

[21:03] What do the most heavily locked down countries all have in common?

[23:10]  What does the mortality rate look like for the U.S.A during COVID-19?

[33:02] How will the coronavirus affect the world economies in the distant future?

[37:30] Brett King talks about his Boring Co. Flame thrower.

[38:30]  Will there be a meat shortage post-COVID-19?

[44:40] John McAfee says he and Elon Musk have a similar thought process regarding COVID-19.

[47:30] John McAfee talks about Monero and Ghost Cryptocurrency.

RESOURCES MENTIONED:

The Currency Cold WarBoring Company

Show Sponsors:

ExpressVPNJack Henry & AssociatesShippo 

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, than in the last 200 years. Listen every Thursday at 3pm eastern time, noon pacific on the VoiceAmerica Business Channel. Subscribe at Provoke.fm to hear the show nearly 2 million listeners from 72 countries are raving about.

FULL TRANSCRIPTION

Show Hosts: Brett King Katie King Dave Birch

Show Guests: John McAfee

[Intro]  Financial technology or fintech is one of the fastest growing industries in the world today with New York, London, Tel Aviv, Edinburgh, Singapore, Moscow, and other major cities all buy in for a piece of the action. Welcome to breaking banks. The first dedicated radio show that focuses on how this new boom is changing everything from the way we bank to the very concept of money itself. Now here’s your host, Brett King.   Brett King: Hey guys welcome back to breaking banks this week. It’s our seventh anniversary edition and we have all the gang here. We have with us Dave Birch a long time my cohost and the author of the, let me get this right, the new book that you’ve [00:44 inaudible] “the currency cold war: Cash and cryptography, hash rates and hegemony. Is that right? 
Dave Birch: That’s clever,

John McAfee joins hosts Brett King, Miss Metaverse (Katie King), and Dave Birch on the 7th Anniversary episode of the #1 Fintech podcast and radio show.

For this live episode of Breaking Banks Brett King and long time contributor David Gerbino are joined by Elizabeth Robins and John Best of Best Innovation Group (BIG) to analyze the current state of affairs for the financial sector. We explore disruptive opportunities in Voice First technology for financial institutions post coronavirus and discuss the need for strategic digital roadmaps moving forward. Also, catch a “Moment of Snark” with Ron Shevlin as he discusses important matters on the news front.