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Episode Summary

Financial institutions face a critical challenge: modernizing payment operations through FinTech partnerships without compromising compliance. On Wrestling Payments, host Elyssa Morgan explores practical strategies for balancing innovation with regulatory requirements.

Mark Forbis (former Jack Henry CTO) and Stephen Coburn (Avalo Labs CEO) reveal what works when banks and FinTechs collaborate. Mark explains why most institutions approach partnerships wrong, while Stephen discusses cultural mismatches that doom relationships. Both have witnessed spectacular failures and quiet successes.

The conversation reveals hidden complexities of third-party risk management and why traditional due diligence overlooks critical warning signs. From fourth-party vendor oversight to recent industry shake-ups, this episode provides frameworks payment leaders won't find in regulatory guidance.

Guests: 

• Mark Forbis - Former CTO, Avalo Labs | 32 years at Jack Henry, multiple bank boards LinkedIn 
• Stephen Coburn - CEO, Avalo Labs | Built compliance-focused treasury platform LinkedIn 
• Mary Mumper-Morrison - Director of Education, NEACH | FinTech veteran specializing in risk management LinkedIn 

Key Insights:

1. Cultural alignment determines success more than technical capabilities
2. Fourth-party risks create hidden vulnerabilities requiring expanded due diligence
3. Early compliance integration prevents costly partnership failures
4. Contingency planning for FinTech failure requires clear data ownership protocols

Smart institutions prepare for scenarios most never consider, including partner failures and customer relationship transfers.