Mighty Finsights

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

Interviewed - Jack Macy, CSTMR and Alex Bates, Dark Rock Cybersecurity - LinkedIn: CSTMR and Dark Rock Cybersecurity

Want to be a part of the podcast? Contact Rory today!

Join us for Episode 29 of Mighty Finsights, where Rory Holland interviews Jack Macy, founder and COO of CSTMR, and Alex Bates with Dark Rock Cybersecurity about the journey CSTMR took to achieve SOC 2 compliance. They explore the importance of SOC 2 for building trust with clients, the challenges faced during the process, and the benefits of being a certified vendor in the financial services industry. The conversation also covers the selection of the right SOC 2 partner and offers advice for organizations considering pursuing SOC 2 compliance, including why it’s helpful to have an expert coach to guide you through the process.

• SOC 2 compliance is an excellent way to improve organizational health and build client trust.
• CSTMR's proactive approach to SOC 2 is unusual for service-based business, especially agencies.
• The SOC 2 process helps formalize risk management practices and “harden” security protocols.
• Data breaches incur significant costs and reputational harm for organizations.
• Selecting the right SOC 2 partner will make a big difference in your experience and the quality of your results.
• Investing in compliance should be viewed as a long-term strategy.
• Training and educating the organization as a whole is key to successful implementation.
• SOC 2 is a report of compliance, not a “certification.”

00:00 Episode Introduction

01:58 Why Did CSTMR Pursue SOC 2?

03:58 The Importance of SOC 2 for Professional Services

06:09 Challenges in Achieving SOC 2 Compliance

09:52 Real-World Security Failures

12:57 The Direct Impact on a Brand

14:27 The Prevalence of SOC 2 in the Marketing Space

16:56 Benefits to CSTMR's Clientele

19:48 Selecting the Right SOC 2 Partner

22:21 What to Look for in a SOC 2 Vendor

24:13 How Playing Competitive Sports Informs Alex's Work

29:20 How to Know If SOC 2 Is Right for Your Organization

30:28 How CSTMR Tackled the Challenges of Passing SOC 2

34:07 Unpacking the Gap Analysis

35:44 Trust Service Criteria

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

Interviewed - Jorge Garcia, Linker Finance - LinkedIn: Linker Finance

Want to be a part of the podcast? Contact Rory today!

Join us for Episode 28 of Mighty Finsights, where Rory Holland interviews Jorge Garcia, Co-founder and CEO of Linker Finance, about the digital banking needs that community banks have for their commercial clients. Jorge shares his journey from Honduras to the U.S., lessons learned as an internationally competitive swimmer, and how these experiences shaped his entrepreneurial spirit. Jorge also talks about how his relationship with his wife and co-founder has also affected the growth and health of the company overall. The conversation also explores the unique economic role that community banks play in the U.S., how the future could play out for those institutions, and why doing things the hard way can actually be a key to success in a crowded marketplace.

• Linker Finance provides digital banking solutions for commercial banking clients.
• Jorge's background as an international swimmer instilled a long-term goal mindset paired with skills to execute in the short term.
• Community banks are responsible for the amazing health of small businesses and the U.S. economy
• Fintech companies are increasingly looking at the commercial banking sector as an opportunity to innovate.
• Building relationships is key in marketing to community banks.
• Jorge emphasizes the importance of celebrating small wins in business.
• Linker Finance aims to connect business banking technology with the needs of community banks.
• Strategic partnerships are playing a big role in Linker’s next phase of growth.
• Jorge believes that community banks can thrive with the right technology.
• The future of fintech is uncertain - it could greatly reduce the role of community banks or it could make them stronger.

00:00 Introduction to Linker Finance

02:56 Jorge's Journey from Honduras to the U.S.

06:00 The Birth of Linker Finance

08:56 Understanding Community Banks and Their Needs

12:06 Working With Vault.Bank and Gaining a New Investor

14:39 The Impact of Competitive Swimming on Business

19:51 Brand Positioning in a Competitive Market

21:35 Building Relationships in Business

23:45 Spouses and Co-founders: A Match Made in Honduras

27:29 The Importance of Community Banks

31:12 How Constraint Satisfaction Helps Build Companies

34:24 Innovations on the Horizon for Linker

36:28 Holistic User Experience in Community Banking

40:31 Reframing the Data on Community Banking and Technology

45:47 The Essence of Linker: Connection and Innovation

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

Interviewed - Alex McLeod, Parlay Finance - LinkedIn: Parlay Finance

Want to be a part of the podcast? Contact Rory today!

Join us for Episode 27 of Mighty Finsights where Rory Holland interviews Alex McLeod, founder of Parlay, about small business lending and how banks and entrepreneurs are poorly served by the existing system. Alex talks about how her role as a military spouse informed her decision to found Parlay. They explore the stark challenges faced by small business owners and financial institutions, why AI should be deployed carefully to avoid harm and the role humility plays in finding good mentors. The conversation also touches on marketing strategies, brand positioning, and the urgency of adopting new technology.

• Parlay is bridging the gap between small businesses and lenders.
• AI and fintech can significantly streamline the lending process.
• Small business lending is complex and requires tailored solutions.
• Financial inclusion is crucial for empowering small businesses.
• Standardized processes in lending can improve efficiency and outcomes.
• Data plays a vital role in assessing loan eligibility.
• Marketing and education are key to reaching lenders effectively.
• The fintech landscape is rapidly evolving with AI and data-driven solutions.
• Community support is essential for fintech entrepreneurs.
• Understanding the needs of small businesses is critical for lenders.

00:00 Who Is Alex McLeod and What Is Parlay?

03:37 Small Business Lending Is Really Difficult

05:17 Leveraging AI and FinTech for Efficiency

10:49 Lenders Use Parlay to Simplify Data Collection

12:30 Big Struggles for Small Business Owners

15:09 Why Alex Started Parlay

18:05 Standardization in Lending Has a Long Way to Go

20:34 Parlay's Vision for Economic Opportunity

21:59 The Parlay Brand Is Positioned to "Do No Harm"

24:08 Marketing Ideas to Help Lenders Win

26:02 Navigating the World of Banking Tech

28:47 Empowering Entrepreneurs Through Education

30:15 Real Impact Stories: Transforming Rejection into Generational Wealth

33:26 Stay Humble if You Want Good Mentors

36:29 Future Trends in Fintech: AI and Beyond

44:05 How Banks Should Prioritize Their Technology Efforts

45:28 Advice for the Next Generation of Fintech Leaders

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

Interviewed - Allan Rayson, Finov8r - LinkedIn: Finov8r

Want to be a part of the podcast? Contact Rory today!

Join us for Episode 26 of Mighty Finsights where Rory Holland interviews Allan Rayson, founder and CEO of Finov8r, a company that bridges finance and technology to deliver revenue and enterprise value for banks, fintechs, and corporations. They discuss the intersection of finance and technology. Allan shares insights from his military upbringing that shaped his adaptability, his journey into the fintech space, and the importance of community banks in today's economy. He emphasizes the need for banks to evolve and innovate, leveraging technology to create alternative revenue streams. Their chat also touches on mentorship, the challenges faced by community banks, and Allan's future plans for Finov8r, including a new subscription service that provides consultative insights to bank executives and fintech founders.

• Allan Rayson explains how adaptability in a rapidly changing environment helped him grow in his career.
• His military upbringing taught him resilience and the ability to adapt to new situations.
• Finov8r is bridging the gap between finance and technology for banks and fintechs.
• Many banks don’t understand the art of growing commercial deposits (aka “liabilities”) to fund their loans.
• As a consultant, Allan can make a larger impact outside of a traditional banking role.
• Community banks play a vital role in local economies and must innovate to remain relevant.
• Collaboration between fintechs and banks is essential for their future success.
• Allan’s appetite for risk-taking has led to massive learning experiences and professional success.
• Mentorship and community support are crucial for personal and professional growth.
• Allan is launching a subscription service to share his expertise with a broader audience.
• The future of banking will require a balance between asset growth and managing the liability side of the balance sheet.

00:00 Introduction to Finov8r and Allan Rayson

02:12 Learning to Adapt as a Military Kid

04:38 What Led Allan to Start Finov8r

06:41 How Finov8r Helps Its Clients Grow

08:06 Allan's Source of Inspiration

10:23 The Art of Liability Growth in Banking

13:15 The Struggle to Integrate Fintech into Community Banking

15:09 Community Banks Are Vital and Disappearing

17:33 The Future of Community Banks

20:14 Finov8r's Target Market and Values

23:42 Opportunities in the Fintech Space

28:21 Personal Journey into Finance

31:09 Future Plans for Finov8r

36:58 Fintechs and Banks Will Need to Collaborate Closer

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

Interviewed - John Erik Metcalf, Upgraded - LinkedIn: Upgraded

Want to be a part of the podcast? Contact Rory today!

Rory Holland interviews John Erik Metcalf, the co-founder and CEO of Upgraded, a tech subscription service that allows users to upgrade their devices effortlessly. They discuss Metcalf's journey from co-founding a co-working space in Austin to launching Upgraded, the challenges and opportunities in the fintech landscape, and the importance of creating a user-friendly experience for customers. Metcalf emphasizes the need for innovation in the consumer electronics market and how Upgraded aims to simplify device management for families, positioning itself as a leader in the fintech space.

• Upgraded is revolutionizing how consumers access technology through subscription services.
• John Erik Metcalf's journey started with self-led learning and has progressed all over the world.
• Upgraded's model focuses on making device upgrades seamless and affordable.
• In the near future it will be possible for families to manage their devices like a small business does.
• Vertical integration is key to Upgraded's long-term strategy for the circular economy.
• Fintech should be about helping people in meaningful ways.
• With the right business model, refurbished devices can put high-quality computers into the hands of many more people.
• AI should enable more companies, including legacy companies and startups to build the services they need from scratch.
• A big part of Upgraded’s success has come from developing a strong narrative.

00:00 Introduction to Upgraded and Living in Austin

02:03 Homeschooling and Building a Company in China

08:22 The Journey of Upgraded: From Sweden to the U.S.

15:28 The Financial Technology Powering Upgraded

19:48 Understanding the Upgrade Model and Its Benefits

27:00 Building the Future with Fintech

28:37 Mentorship and Career Development

30:49 The Role of Fintech in Enhancing Consumer Experience

37:20 The Deeper Purpose of Fintech Innovation

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

Interviewed - Sloan Shanahan, FusionIQ - LinkedIn: FusionIQ

Want to be a part of the podcast? Contact Rory today!

In this conversation, Rory Holland interviews Sloan Shanahan, the CRO of FusionIQ, discussing the company's mission to enhance wealth management through technology and the principles of behavioral finance. Sloan talks about how her time as a collegiate golfer at Clemson informed how she builds sales teams. She also explains how the future of the financial services industry will be dependent on collaboration between fintechs and financial institutions.

Key Takeaways

• FusionIQ helps banks and credit unions capture deposits and grow revenue through wealth management.
• Sloan's upbringing in a high-performing environment shaped her work ethic.
• Playing college-level golf at Clemson taught Sloan time management and accountability.
• Generational wealth transfer presents both challenges and opportunities for banks.
• FusionIQ's platform helps banks engage younger clients effectively.
• Behavioral finance heavily informs FusionIQ’s product development roadmap.
• Sloan emphasizes the importance of aligning personal and organizational missions when building a career.
• If fintechs want to survive, they need to collaborate more closely.
• Staying informed about industry trends is essential for developing a career in fintech.

00:00 Introduction to Fusion IQ and Personal Background

02:36 The Journey of a Competitive Athlete

05:15 Understanding Fusion IQ's Wealth Tech Platform

06:49 Understanding FusionIQ's Prospect Universe

08:22 How Do Financial Institutions Perceive FusionIQ?

10:51 The Challenge of Wealth Management at Banks and Credit Unions

15:45 How Behavioral Finance Is Changing Wealth Management

18:43 Using Behavioral Finance to Improve Education

20:17 Enthusiasm from Prospects In the Marketplace

21:46 How Clients Are Using FusionIQ and Winning

23:39 What FusionIQ Can Do for Non-Traditional Financial Providers

25:32 The Importance of Client Education and Holistic Experience

27:01 Sloan's Origin Story in Fintech

30:35 The Gifts of Mentorship and Competitive Sports

35:31 Future Aspirations and Hyper Growth in Fintech

37:36 Cooperative Ventures and Fintech Ecosystems

39:49 Advice for Aspiring Fintech Professionals

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

Interviewed - Michael Luxenberg, Bankuity.com - LinkedIn: Bankuity

Want to be a part of the podcast? Contact Rory today!

Rory Holland and Michael Luxenberg discuss how Bankuity is using alternative data and artificial intelligence to build a more accurate picture of what financial wellness really looks like. This approach allows lenders and other businesses to be more inclusive, increase profitability, and serve their customers better. Michael also shares his journey from healthcare to finance and how community is a central theme of his life and career. They explore how errors in the credit application and underwriting process lead to misguided business decisions and cause businesses to miss out on valuable markets, such as gig workers and people with alternative income streams. They also talk about how young people who want to build a career in fintech can position themselves for success.

Key Takeaways

• Inclusivity has been a theme for Michael Luxenberg throughout his life .
• 85% of lending applications have some kind of error.
• Financial wellness is about way more than income.
• Lenders make better decisions when they can see all the data.
• Bankuity believes that community is a vital part of its business model and DNA.
• Bankuity is solving creditworthiness errors in lending and many other industries.
• AI and technology can unlock better insights throughout the customer lifecycle.
• Lenders can “right-size” their credit offerings using better data.
• The future of Fintech lies in leveraging alternative data.
• Michael and his team are in business to make a difference.

00:00 Exploring Austin and Personal Connections

02:06 Introduction to Bankuity and Its Mission

06:15 Michael Luxenberg's Journey to Fintech

12:04 Understanding Errors in Lending and Financial Wellness

14:58 What Happens When Borrowers Default

18:31 The Inspiration for Founding Bankuity

21:30 Unlocking New Growth with AI and Machine Learning

24:00 Success Stories and Market Positioning of Bankuity

30:12 Future Opportunities in Fintech and Inclusivity

38:39 Advice for Young Professionals in Fintech

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

Interviewed - James Furbush, AccessOnepay.com - LinkedIn: AccessOne

Want to be a part of the podcast? Contact Rory today!

Rory Holland and James Furbush discuss the evolving landscape of healthcare payments and the role of AccessOne in facilitating financial well-being for patients and healthcare systems. They explore the challenges patients face in understanding healthcare costs, the importance of empathetic payment solutions, and the innovative approaches AccessOne employs to bridge the affordability gap. The discussion also touches on the marketing strategies and sales cycles involved in engaging hospital networks. In this conversation, James Furbush discusses the challenges and strategies of marketing and sales in the healthcare sector, particularly focusing on AccessOne's approach to account-based marketing, content creation, and the importance of aligning sales and marketing efforts. He emphasizes the need for a holistic approach to increase sales velocity and improve lead quality, while also highlighting innovative content marketing strategies like their podcast, RCM Ladder, aimed at engaging their target audience. The discussion concludes with insights into the future direction of AccessOne and the continuous improvement mindset of the team.

Key Takeaways

• AccessOne aims to improve healthcare access through better payment solutions.
• Patients often face financial barriers that prevent them from seeking care.
• Healthcare costs are often opaque, leading to confusion and anxiety for patients.
• AccessOne provides tools to help patients manage their healthcare payments more easily.
• The company focuses on empathetic communication and automation in payment processes.
• Integration with existing healthcare systems is crucial for patient engagement.
• Sales cycles in healthcare can be lengthy and complex due to multiple stakeholders.
• Education is key to helping patients understand their payment options.
• AccessOne's mission is to close the affordability gap in healthcare.
• The patient experience is central to AccessOne's service offerings. Sales teams face significant challenges in complex deals.
• An account-based marketing approach is essential for targeting healthcare systems.
• Providing value through content is key to building relationships.
• Sales velocity can be improved by refining the sales process.
• Marketing must align closely with sales to drive success.
• Quality of leads is a shared responsibility between sales and marketing.
• Effective communication and SLAs enhance collaboration.
• Content marketing can create lasting impressions even when prospects are not ready to buy.
• Innovative content like podcasts can differentiate a brand in a crowded market.
• Continuous improvement is vital for long-term success in business.

Chapters

00:00 Introduction and Background

04:12 Understanding Access One's Mission

12:46 The Challenges of Healthcare Payments

18:32 The Patient Experience with Access One

23:15 Marketing Strategies and Sales Cycles

26:39 Navigating the Complex Sales Landscape

31:22 Strategies for Accelerating Sales Velocity

39:43 Aligning Sales and Marketing for Success

42:43 Innovative Content Marketing Approaches

48:33 Future Directions for Access One

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

Interviewed - Kevin Allen, validmind.com - LinkedIn: ValidMind

Want to be a part of the podcast? Contact Rory today!

In this episode, Rory Holland interviews Kevin Allen from ValidMind, discussing the critical role of model risk management in banking, especially in the context of increasing AI adoption. Kevin explains how ValidMind's platform simplifies the model validation process, saving banks time and costs while reducing risks. The discussion also covers the importance of building trust in AI, navigating regulatory challenges, and the significance of having a strong team behind ValidMind's innovative solutions.

Key Takeaways

• Model risk management is essential for banks' operations.
• AI adoption in banking is growing but comes with risks.
• The platform helps banks save time and reduce costs.
• ValidMind serves banks of all sizes, not just large ones.
• Model Risk Management as a Service is a key offering.
• Building trust in AI is crucial for banks' acceptance.
• Regulatory compliance is a significant challenge for AI.
• The team at ValidMind brings extensive industry experience.
• A strong company culture is vital for startup success. Brand recognition has significantly improved over the past year.

Chapters

00:00 Introduction to ValidMind and Model Risk Management

03:12 The Importance of Model Risk Management in Banking

05:57 ValidMind's Approach to Different Bank Tiers

09:02 Model Risk Management as a Service

12:04 Building Trust in AI for Banking

15:00 Navigating Regulatory Challenges in AI Adoption

18:06 Establishing Credibility in the Banking Sector

20:57 The People Behind ValidMind and Company Culture

24:09 Evolving Brand Recognition in Fintech

26:58 The Art of Improv and Its Business Applications

32:02 Navigating the Fintech Landscape

38:09 Challenges in Niche Marketing

41:00 The Future of AI in Business

42:50 Partnerships and Collaborations for Growth

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

Interviewed - Joshua Silver, Rainforestpay.com, Linkedin: Rainforest Pay

Want to be a part of the podcast? Contact Rory today!

In this episode, Rory Holland speaks with Joshua Silver from Rainforest about the evolution of fintech—in Atlanta particularly—and the innovative approach Rainforest takes in providing embedded payment solutions. Joshua shares his journey in the fintech space, the challenges of building a startup, and the importance of customer service and support. He emphasizes the need for a human-centric approach in the industry and discusses the future of Rainforest and the broader fintech landscape.

Key Takeaways

• Embedded payments can significantly increase revenue for software platforms.
• Joshua's experience in healthcare payments shaped his understanding of the industry.
• Embedded payments can significantly increase revenue for software platforms.
• Joshua's experience in healthcare payments shaped his understanding of the industry.
• The need for better service in the payments infrastructure market led to the creation of Rainforest.
• Building a fintech startup involves navigating complex regulatory challenges.
• Customer service should be a priority in fintech to enhance user experience.
• The brand Rainforest aims to bring humanity back into the fintech space.
• Continuous improvement in product can reduce support tickets.
• Hiring exceptional talent is crucial for customer-facing roles.
• Networking and mentorship are vital for success in the fintech industry.

Chapters

00:00 Fintech in Atlanta and Beyond

03:03 Understanding Rainforest and embedded fintech

14:00 The Brand Story of Rainforest

22:47 The Role of AI in fintech

24:29 The Goldilocks Principle in Payments

27:35 Future Plans and Industry Insights

30:04 Challenges and Opportunities in Fintech Growth