Deciphered: The Fintech Podcast

In this episode of Deciphered, Adam Davis, expert associate partner at Bain & Company, is joined by Chris Kuiper, Director of Research at Fidelity Digital Assets, Edward Woodford, CEO at Zero Hash and Jeremy Fox-Geen, CFO at Circle to discuss whether crypto has crossed the institutional and consumer chasm.

Timestamps:

• 06:22 Has crypto crossed the institutional and consumer chasm?
• 09:41 What's underpinned this crypto bull run over the last 12 months?
• 12:56 How do Bitcoin ETFs differ from other ETFs?
• 15:11 Regulatory hurdles with Bitcoin ETFs
• 17:21 Is there a correlation between user adoption and ETF approvals?
• 18:57 Bitcoin: Will the use cases grow, or is it just a store of value?
• 23:16 Which other crypto assets could go through this regulatory process in the near future?
• 25:23 The future of stablecoins
• 32:52 What are the blockers stopping widescale adoption of stablecoins?
• 42:59 How has crypto influenced global culture and society?
• 48:37 What role will crypto play in Financial Services once it has fully matured?

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• You can find Adam Davis here
• You can find Chris Kuiper here
• You can find Edward Woodford here
• You can find Jeremy Fox-Geen here

For more insights from the Deciphered podcast, visit the page on Bain’s website

In this episode of Deciphered, recorded live from Money20/20 Europe, host Adam Davis, Bain associate partner, is joined by Jeff Tijssen, Bain partner and global head of fintech, Ronit Ghose, Citi Future of Finance global head of banks research and cohead of fintech and Anthony Craufurd, Visa Europe director of ventures and startup engagement, to discuss which transformative technologies will shape the future of Fintech.

Timestamps:

• 04:46 Betting on Fintech: Which transformative technologies will shape the future?
• 09:48 Practical applications of new technologies in financial services
• 13:50 How is the research at Citi translated into investment and product decisions?
• 16:12 Dividing up ventures from a tech perspective
• 18:09 Integrating investments back and driving revenue
• 19:22 Overhyped technologies
• 22:59 Proof points when looking at companies pioneering new technologies
• 24:58 Money 2020 takeaways

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• You can find Adam Davis here
• You can find Jeff Tijssen here
• You can find Ronit Ghose here
• You can find Anthony Craufurd here

For more insights from the Deciphered podcast, visit the page on Bain’s website

In this episode of Deciphered, Adam Davis, expert associate partner at Bain & Company, is joined by Erin McCune, expert partner at Bain & Company, Ed McLaughlin, President and Chief Technology Officer at MasterCard, Sladjana Jovanovic, Chief Information Officer for the Canadian Personal Business Banking at BMO Financial Group, and Daragh Morrissey, director of AI at Microsoft Worldwide Financial Services, to discuss if the world is ready for AI and quantum's impact on payments.

Timestamps:

• 06:06 AI and Quantum: Is the World Ready for the Impact on Payments?
• 12:19 Based on Bain's surveys on AI, are those expectations realistic? And what timeframe are we looking at?
• 15:29 How will AI transform our experience with payments?
• 18:32 How is Mastercard implementing AI to meet future expectations?
• 21:05 How does the growth and maturation of accountability change as AI models develop?
• 26:27 What are the most interesting use cases of AI?
• 31:48 Quantum computing: What is it? And how will it impact us?
• 37:01 How will quantum computing impact fraud?
• 40:46 Who will be the biggest benefactors of quantum?
• 45:36 How have partnerships effected POCs & go-to-market solutions?

Please subscribe to the show so you never miss an episode, and leave us a review if you enjoy the show!

• You can find Adam Davis here
• You can find Erin McCune here
• You can find Ed McLaughlin here
• You can find Sladjana Jovanovic here
• You can find Daragh Morrissey here

For more insights from the Deciphered podcast, visit the page on Bain’s website

In this episode of Deciphered, Adam Davis, expert associate partner at Bain & Company, is joined by Wendy Redshaw, Chief Digital Information Officer at NatWest, and Jason Maude, chief technology advocate of Starling Bank, to discuss if there is still a technology gap between incumbents vs challengers.

Timestamps:

• 04:15 Incumbents vs Challengers – is there still a technology gap?
• 05:24 How would you explain the technology gap previously between large tier 1s and neobanks?
• 09:57 What are the key differences between a challenger stack and an incumbent stack?
• 12:31 How have Starling maintained a simple / flexible architecture through the launch of new products and the scaling of your customer base?
• 15:24 Occasional vs repeatable releases
• 16:02 Centralisation efforts that have happened with NatWest’s tech estate over recent times
• 19:36 Is the money banks spend on IT transformation programmes worth it?
• 21:33 Do you believe the combination of ML / AI and Generative AI, alongside exclusive Cloud deployment, will level the playing field?
• 25:15 What underpins the culture you want to see at your organizations, and how do you encourage it?
• 29:57 How do you keep up with Futurology and trends, and does any of that thinking feature in your tech roadmaps?
• 34:30 What is your one prediction for tech trends into 2024?

Please subscribe to the show so you never miss an episode, and leave us a review if you enjoy the show!

• You can find Adam Davis here
• You can find Wendy Redshaw here
• You can find Jason Maude here

For more insights from the Deciphered podcast, visit the page on Bain’s website

In this episode of Deciphered, Adam Davis, expert associate partner at Bain & Company, is joined by Erin McCune, expert partner at Bain & Company, Manish Kohli, head of global payments solutions at HSBC, and Thierry Chilosi, chief strategy officer at Swift, to discuss what’s at stake in the world of Wholesale Payments.

Timestamps:

• 00:00 Introduction
• 04:07 What’s at stake in the world of Wholesale Payments?
• 08:06 Why are wholesale payments so important?
• 10:05 From the FI's perspective, what are the profit pools and ways of making money within wholesale payments?
• 14:51 How have wholesale payments changed in the last 10 years? What's driving innovation?
• 23:39 Will real-time payment networks lower the barrier to entry for new payment products?
• 29:00 What are the effects on working capital and liquidity with real-time infrastructures working 24/7?
• 33:48 Swift's modernisation journey - from telex to the new XML standards
• 36:57 How will Swift's new collaborations with Visa and Wise serve businesses and banks going forward?
• 38:38 What makes a successful partnership in the fintech space?
• 42:19 What will the wholesale payments industry look like in 15 years?

You can read more about Bain’s POV on Wholesale Payments in the recently published brief: The Fragmentation of Wholesale Payments Calls for Banks to Remake Their Approach

Please subscribe to the show so you never miss an episode, and leave us a review if you enjoy the show!

• You can find Adam Davis here
• You can find Erin McCune here
• You can find Manish Kohli here
• You can find Thierry Chilosi here

For more insights from the Deciphered podcast, visit the page on Bain’s website

In this episode of Deciphered, Adam Davis, Associate Partner at Bain & Co, is joined by Aman Narain, Global Head of Platforms and Embedded Banking, HSBC, to discuss the topic of embedded finance.

Timestamps:

• 00:00 Introduction
• 02:42 Embedded finance use cases
• 05:08 Maturity of integrated, insightful & instant in embedded finance
• 06:09 Integrated definition & use cases
• 07:06 Building a proposition inside HSBC
• 10:14 Biggest business challenges in embedded finance
• 11:38 Who will disrupt embedded finance in the future?
• 13:56 Embedded finance sales plays for non-FIs
• 16:05 Working capital
• 17:47 Is gen AI overhyped?
• 19:04 Given $10M to start a fintech - what would you do?
• 19:40 Advice to your younger self about banking and the FS industry

Please subscribe to the show so you never miss an episode, and leave us a review if you enjoy the show!

• You can find Adam Davis here
• You can find Aman Narain here

For more insights from the Deciphered podcast, visit the page on Bain’s website

In this episode of Deciphered, Adam Davis, Associate Partner at Bain & Co, is joined by Jeff Tijssen, Expert Partner and Global Head of FinTech, Bain & Co, Christina Riechers, General Manager, Square Banking and Richard Davies, Chief Executive Officer, Allica Bank, to discuss SMB: Is there still a growth opportunity, or are they now over-served?

Timestamps:

• 00:00 Introduction
• 07:37 SMB: Still a growth opportunity, or now over-served?
• 12:52 Strategy of Square banking & what is your remit?
• 15:27 Differentiating Square banking & gaining autonomy
• 17:40 Success factors at Allica Bank
• 19:33 Have SMB margins held for providers through the cost of living crisis/rising interest rates?
• 23:52 How much share should fintechs take from incumbent FIs and banks?
• 27:46 How hard is it to capture ongoing SMB engagement without a full integrated banking offering?
• 29:53 What new products are Square and Allica Bank looking to provide?
• 34:15 Jobs for small businesses: What are they, and how are they effected by technology?
• 39:55 What are the differences in serving increasingly larger businesses, and how do jobs change with this?
• 44:47 Should we expect consolidation in facets of SMB? And who's competitive in the space?

Please subscribe to the show so you never miss an episode, and leave us a review if you enjoy the show!

• You can find Adam Davis here
• You can find Jeff Tijssen here
• You can find Christina Riechers here
• You can find Richard Davies here

For more insights from the Deciphered podcast, visit the page on Bain’s website

In this episode of Deciphered, Adam Davis, Associate Partner at Bain & Co, is joined by Jeff Tijssen, Expert Partner and Global Head of FinTech, Bain & Co, Mike Cashman, Partner at Bain & Co, Mariagiovanna Di Feo, Partner at Bain & Co and Mike Smith, Partner at Bain & Co, to discuss what trends will arise and what changes to the industry we will see in 2024.

Timestamps:

• 00:00 Introduction
• 03:38 What will we see in fintech in '24?
• 10:35 2023 rewind: Rising rates, regulations, open banking & digital assets
• 13:30 Profitability
• 16:40 Investor sentiment going into Q1 '24
• 21:31 Differentiation between VC & PE
• 23:43 Geographical nuances, investor appetite & growth
• 25:13 Payment predictions for '24
• 28:18 Growth, card flows, & alternative payment methods
• 31:00 Embedded finance & connected vehicles - will we see growth?
• 35:33 How will blockchain evolve over the next year?
• 39:19 How can digital banks/players position themselves for the change in growth?
• 44:59 No. 1 predictions for 2024

Please subscribe to the show so you never miss an episode, and leave us a review if you enjoy the show!

• You can find Adam Davis here
• You can find Jeff Tijssen here
• You can find Mike Cashman here
• You can find Mariagiovanna Di Feo here
• You can find Mike Smith here

For more insights from the Deciphered podcast, visit the page on Bain’s website

In this special episode of Deciphered, recorded LIVE from Money20/20 USA in Las Vegas, Jeff Tijssen, Expert Partner and Global Head of FinTech, Bain & Co, Mike Cashman Partner, Bain & Co, are joined by Sophia Bantanidis, Future of Finance, Citi Global Insights, Citi and Peter Hazlehurst, Co-founder and CEO, Synctera, to discuss disequilibrium across the banking industry in 2023, restoring balance, and exploring the potential for new growth within the Financial Services industry going into 2024.

Timestamps:

• 00:00 Introduction
• 05:04 Disequilibrium in banking: Have we restored balance, and where can we find new growth?
• 08:05 The importance of understanding disequilibrium in banking
• 10:20 Reflecting on what's been going on in the industry over the past 12-18 months
• 12:53 Changes in the interest rate environment: Is the worst behind us? In what ways has finance & the banking sector resorted to balance in 2023?
• 17:11 Turmoil in the FS industry & BaaS
• 19:03 How do regulatory changes impact an organisation's ability to achieve new growth?
• 21:44 Stimulating innovation vs protecting consumers
• 24:28 The current funding landscape & projections for next year
• 29:37 Significant challenges and opportunities when achieving sustained growth
• 32:49 Where will new growth come from next year in FS?
• 34:39 Surprising positive predictions for '24

Please subscribe to the show so you never miss an episode, and leave us a review if you enjoy the show!

• You can find Jeff Tijssen here
• You can find Mike Cashman here
• You can find Sophia Bantanidis here
• You can find Peter Hazlehurst here

For more insights from the Deciphered podcast, visit the page on Bain’s website

In this episode of Deciphered, Adam Davis, Associate Partner at Bain & Co, Bhavi Mehta Partner, Bain & Co, are joined by Sarah Hinkfuss, Partner, Bain Capital Ventures and CJ Przybyl, Co-founder and CEO, Reserv, to discuss how AI will impact fintech, whether or not it will level the competitive advantages of larger financial institutions, and just what this technology means the Financial Services industry. 

Timestamps:

• 00:00 Introduction
• 06:57 AI & Fintech: Will this level the competitive advantage & playing field?
• 10:50 Why is generative AI such a game changer in this industry?
• 13:10 Is generative AI just another tech bubble?
• 15:32 What key ingredients do smaller vs bigger organisations need to benefit from AI?
• 22:04 Who will take the majority of the market share with AI services?
• 28:10 How difficult will it be for FIs to get their hands on data across multiple LLMs?
• 29:59 Use cases & funding
• 35:42 How will AI affect jobs in the future?
• 39:31 Ethical considerations & biases of AI
• 44:28 Implementation and execution of AI
• 46:30 Maintaining competitive advantage
• 50:30 Speed differences with utilising AI
• 51:52 Over the next 10 years, which unexpected ways will consumers use AI?

Please subscribe to the show so you never miss an episode, and leave us a review if you enjoy the show!

• You can find Adam Davis here
• You can find Bhavi Mehta here
• You can find Sarah Hinkfuss here
• You can find CJ Przybyl here

For more insights from the Deciphered podcast, visit the page on Bain’s website