Host - Rory Holland - cstmr.com - Linkedin: CSTMR

Interviewed - Frank T. Young, Frank’s Substack  

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In this Episode

Episode 32 of Mighty Finsights features Frank T. Young, strategic advisor, angel investor, and former executive at Google and Global Payments. He joins Rory Holland to discuss what it’s liking building products at some of the biggest names in financial technology. This conversation tackles pivotal moments in payments modernization, including an insider look at why Google Wallet failed to secure a business model where Apple Pay succeeded. Young offers candid analysis on the fundamental culture clash between fast-moving tech and slow, regulated financial institutions, and explains how adaptive leadership is key to navigating that divide. He also shares personal stories—like a piano recital that helped him get hired at Google—and how Kobe Bryant’s Black Mamba ethos influences his approach to consulting.

Key Takeaways

• The role of Embedded Fintech: The highest standard of user experience in payments is one that is largely "invisible" (embedded fintech), allowing users to focus on commerce, not transactional complexity.
• Data vs. Privacy-First Business Models: The fundamental psychological problem for Google Wallet was that bankers did not trust Google with their data, an issue Apple circumvented by positioning itself as the "antithesis of Google" on data.
• Take the Time to Correctly Define Problems: A critical leadership lesson in consulting is to never misdiagnose an adaptive problem (like cultural readiness for change) as a technical problem.
• Market Dominance Does Not Equal Brand Recognition: Global Payments, despite massive growth, struggled to establish brand recognition as a "value-added service provider" due to insufficient investment in marketing.
• The Willingness to Become a Student Again: Young's personal story of a piano recital at age 39—on the day his daughter was born—illustrated the humility and relentless improvement necessary for leadership.
• Banks Require Technological Consistency: Google's internal "engineering cycle" often led to new teams re-architecting and re-engineering products soon after launch, sometimes hindering operational continuity.

Chapters

00:00 Introduction and Dunkin' Donuts Discussion

01:17 Interview - Start

02:23 How Frank Young Ended Up at Google 

05:42 Unfolding the Google Wallet Experience

08:45 Why Google Wallet Struggled to Gain Traction with Partners

12:38 The Philosophy Behind Apple Pay's Rise to Dominance

13:50 Rory Holland - Commentary

14:20 The Philosophy Behind Apple Pay's Rise to Dominance - Continued

15:18 Transitioning from Google to Global Payments

19:13 Frank's Decision to Learn Piano at Age 39

21:58 Creating the Googley Factor by Living Life Out Loud

24:40 Wisdom Earned While Working at Global Payments

27:42 Why Brand Recognition Matters So Much in Fintech

29:13 Rory Holland - Commentary

29:39 Why Brand Recognition Matters So Much in Fintech - Continued

30:49 Falling Down the Rabbit Hole of Financial Technology

33:14 A Family Passion for Music

36:40 The Half-Fast Walking Club

39:25 Mamba Mentality and Personal Growth

41:48 Bringing Adaptive Leadership into His Consulting Practice

44:58 Rory Holland - Commentary

45:20 Bringing Adaptive Leadership into His Consulting Practice - Continued

51:39 Frank's Angel Investments and Work with Fintech Startups

56:40 Insights Into Frank's Current Season of Life

58:53 Closing Remarks

01:00:30 Interview End