June 20, 2024

Episode 549: Bringing You The Best

49 minutes

In This Episode

It’s a Breaking Banks and Finovate collab! Fresh off of FinovateSpring hosts JP Nicols, Greg Palmer and Brett King talk trends, takeaways and best of show; bringing the best to you in this episode. If you missed FinovateSpring, enjoy the recap and themes, and some of the best fintech innovations covering artificial intelligence, open banking, future payments, CX and more. With new market entrants and the loosening of capital, creativity is coming back into the ecosystem, and the bar is being raised, pushing everyone forward. We also introduce you to one of FinovateSpring’s Best of Show winners, Maya Mikhailov, SAVVI AI, Founder & CEO. Meeting users where they are, SAVVI AI offers a powerful AI tool to unlock data and make finserv and fintech goal driven AI use cases easier, distilling data natively into excel, to offer insights for institutions on new product offerings to benefit customers and business.

In the coming weeks, tune into sister podcast Finovate for profiles, a deep dive and one-on-ones with all FinovateSpring ‘Best of Show’ winners: Bloom Credit, Remynt, Kobalt Labs, QuickFi, SAVVI AI, Cascading AI

Read the entire transcript here.

Podcast Content:

Chapter 1: 00:00:00 – Introduction: Welcoming Greg Palmer and Finnovate Insights

The hosts introduce Greg Palmer from Finnovate, discussing his observations post-Finnovate Spring and setting the stage for the episode.

Chapter 2: 00:05:30 – The State of Fintech: Fresh Ideas and New Players

Exploring the influx of early-stage companies, Series A fintechs, and how creativity is driving a new wave of innovation in the ecosystem.

Chapter 3: 00:15:00 – The Innovation Cycle: Incumbents vs. Insurgents

Discussing the classic innovation cycle, venture capital trends, and how fintechs challenge incumbents to adapt or acquire.

Chapter 4: 00:24:45 – AI in Fintech: Who Will Win the Next Wave?

Highlighting AI’s role in shaping financial services, the incumbents’ challenges with legacy systems, and fintechs’ AI-friendly advantages.

Chapter 5: 00:35:30 – Best of Show Winners: The Highlights of Finnovate Spring

A brief overview of standout winners like Bloom Credit, Remit, and Savvy AI, and their innovative, customer-centric approaches.

Chapter 6: 00:45:15 – Meet Savvy AI: Democratizing AI for Banks

Maya Mikhailov shares Savvy AI’s mission to bring AI capabilities to banks through Excel, empowering them to use their existing data.

Chapter 7: 00:55:00 – Practical AI Use Cases: Start with What You Have

Discussing how banks can begin with deposit and transaction data to solve practical challenges like deposit growth, churn, and loan delinquency.

Chapter 8:

Reflections on the episode’s themes: AI as a tool for efficiency, solving everyday banking problems, and meeting customers where they are.