Money Isn't Everything

Happy Thanksgiving! Today’s show is a short one. Cornerstone’s Editor-at-Large, Mary Wisniewski, hops on with herself to chat about what she’s thankful for in fintech.

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Community Financial Credit Union is taking on one of the diciest areas of finance: domestic violence and economic abuse in what the Michigan credit union refers to as its Choose the Bear movement. Tansley Stearns, president and CEO of the credit union, talks to Mary about how and why Community Financial hopes to serve as one of the resources to help survivors escape economic abuse and rebuild their lives.

It is but one of many striking projects setting the Michigan credit union apart from the pack. Stearns also chats with Mary about the importance of remote workers in recruiting talent and the significance of storytelling.

Show links:

• Choose the Bear
• First Step
• America’s Credit Union Museum -- Herstory

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While financial institutions across the country want to win over Gen Z, the demographic tends to mystify them.

Katrin Kaurov, co-founder and CEO of Frich, is on a mission to help solve both challenges. Katrin talks to Mary about Gen Z stereotypes, techniques that resonate with young adults and rethinking financial literacy. She also answers questions that came up during a summer Cornerstone-Frich webinar.

Show notes:

• Frich
• Read Z Hits Different: How to Better Acquire and Engage a New Generation
• Watch the Z Hits Different webinar replay

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The emotional side of money is an emerging area of interest for fintech and digital banking executives.

On today’s show, Mary sits down with Lindsay Bryan-Podvin, who among other titles, is a financial therapist. In fact, through December 2024, Lindsay is working as Cash App’s financial therapist. Lindsay talks with Mary about the newer profession and how it’s already showing up in fintech in various ways. They also explore how Gen Z handles money in ways that are different from past generations.

One correction: In the interview, Mary says Square in reference to Lindsay’s financial therapy work. But Mary meant to say Cash App.

Relevant links for Lindsay's work:

• Her company: Mind Money Balance
• Her podcast show: Mind Money Balance
• Her book: “The Financial Anxiety Solution”
• Mary's emoji story (subscription required): When it comes to emojis, banks need to learn the lingo
• A bit on the Cash App blocking feature

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In September, the Reseda Group held a fintech summit in Detroit, showcasing a range of technology designed to improve credit unions’ products and services. Mary emcee-ed the event.

In this episode, Ben Maxim (the chief operating officer at the Reseda Group) chats with Mary about the flavorful themes that emerged during the Detroit event, including: fresh ways to deepen engagement with members, the need to upgrade digital banking for all ages and where and how the branch plays a role.

As the chief innovation officer for Michigan State University FCU, Ben also chats with Mary about how he finds fintechs to work with, and equally important, how the credit union knows when to call it quits.

Oh, they also explore existentialism in financial services and Ben defines innovation. Really.

Relevant links:

• Reseda Summit

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A 2024 policy shift is letting employees offer a newer kind of perk: When employees make student loan payments, their employers can plop savings into their tax-advantage retirement plan as their matches.

Today on the show, Mary sits down with Laurel Taylor, founder and CEO at Candidly, to explore why and how her company is tackling this thorny financial wellness challenge.

Plus, they chat about the joys of accomplishments, the shame often tied to debt, and ways they stay grounded.

Relevant show links:

• Candidly
• SECURE Act 2.0

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2024 is considered the year of the consent order in banking. The added regulatory scrutiny is shifting the way banks partner with fintech companies.

In this episode, Mary sits down with Rodrigo Suarez, chief banking officer at Piermont Bank. They explore what the young New York bank is seeking out in fintech. Rodrigo also shares why he thinks diversity matters in banking and offers his views on innovations for small businesses. And yes, they even talk about ways fintechs can avoid getting lost in what can feel like bank labyrinth.

Relevant links:

• *Piermont Bank
• *Rodrigo Suarez    
• *Finteching with Mary, a monthly newsletter published on LinkedIn

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You likely know the brand H&R Block. But more than two years ago, the tax-preparation chain launched Spruce: an app that connects to a debit card and savings account where funds are held at its bank partner, Pathward.

Today on the show, Mary sits down with John Thompson, vice president of product management for financial services at H&R Block. They chat about how consumers find Spruce (including at physical locations) some of the major misconceptions of financial health and the challenges of when faster (and slower) payments occur. John also talks about his love-hate relationship with the tax refund.

Relevant sources

• H&R Block’s Spruce
• Financial Health Network

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As the executive director of Fintech Sandbox, Kelly Fryer interacts with all kinds of fintech startups. In this episode, Kelly offers her take on important startup issues.

She talks with Mary about the challenges fintech startups located outside of the coasts are up against, clashes between fintech and bank cultures and career pathing ideas. They also chat about their shared Midwestern roots and the biggest concerns community banks have right now.

Relevant links:

• Fintech Sandbox
• Boston Fintech Week
• Go Midwest, young fintechs (American Banker article by Mary. Subscription required)

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In this episode, Mary chats with Tony Brancato, the head of product for the neobank for older adults called Charlie. Tony chats about why he thinks payments need to slow down, how shame is masking just how many seniors are getting scammed and where to acquire customers. They also chat about whether or not their parents hit the clubs.

Relevant links:

• Charlie
• The newest Neobank is for the 62+ Crowd

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