Welcome back to the Fintech Takes podcast. I’m Alex Johnson, joined by Jason Henrichs, CEO of Alloy Labs and co-host of the Breaking Banks podcast.

This episode is structured in two parts.

In part one, Jason and I zoom out on bank-fintech partnerships (once we get a rant out of our system; the Treasury Department announced who’d run Trump accounts as we recorded, and we had feelings).

We’ve spent years talking about bank-fintech partnerships through the lens of BaaS. Jason reframes that with two new models: BPP (Bank Product Partnership), where banks own the customer and fintechs sell into them, and CPaaS (Charter Partnership as a Service), where fintechs rent a bank’s charter. Those models look similar on the surface, but the incentives, economics, and regulatory dynamics are completely different.

From there, we dig into the wave of charter applications, the real question of who actually knows how to lend, and why the U.S. market has trained itself into giving away its most expensive product.

Then, in part two, I’m joined by AJ Clark and Tom Johnson, startup advisors and members of the Fintech Takes Network.

We shift to what’s actually happening on the ground inside banks and startups, and why deeper, slower conversations are often the prerequisite for real partnership.

That also becomes a natural preview to the Fintech Frontier Summit, a small, curated gathering in Montana focused on solving these problems in practice, which AJ and Tom are helping organize (from May 31 through June 3 at Alpine Falls Ranch; applications open at luma.com/fintechfrontiersummit2026).

This episode is brought to you by Persona. 

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Follow Jason Henrichs:

LinkedIn: https://www.linkedin.com/in/jasonhenrichs/

Twitter: https://x.com/jasonhenrichs

Breaking Banks podcast: https://podcasts.apple.com/us/podcast/breaking-banks/id641357669

Follow Alex: 

YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos

LinkedIn: https://www.linkedin.com/in/alexhjohnson

Twitter: https://www.twitter.com/AlexH_Johnson