Welcome to our latest Tearsheet Live event. We're doing these weekly -- Wednesdays at 12 EST -- on Linkedin. Follow us here. I'm your host, Tearsheet editor, Zack Miller.

Joining us is Hunter Somerville, creative director of Innovation Refunds. Occasionally we dig in to marketing and campaigns and how financial services and fintech companies are finding new ways to create leads, acquire new customers, and build brand. 

What's Innovation Refunds?

Hunter Somerville, Innovation Refunds: The company has been around for a few years. And the mission is really to be a champion of small businesses. We feel like they're the backbone of the American economy and sometimes kind of overlooked and underappreciated. So, you know, the most powerful thing a small business can have, or medium sized business or any business for that matter is capital. So however we can we tried to make that happen. And currently, we're really focused on the ERC employee retention credit, which was part of the Cares Act. I think people are very familiar with PPP loans. USC was a part of that same, the Cares Act as the PPP loans. And so we're doing I think, a pretty darn good job at helping more and more small businesses, be aware of the ERC and take advantage of it if they are eligible.

Listen to the whole episode: https://tearsheet.co/?p=55888

Ty Burrell, actor and SMB owner, highlights government incentives For SMBs

Tearsheet is news, opinion, and analysis on the business of finance.

Candid conversations with senior executives, fintech entrepreneurs, investors, industry experts -- all weigh in on the trends impacting the industry and the disruptive impact technology is having on the business.

Where social media, technology and finance intersect.

Technology

Tech News

Podcasting

Gadgets

Software How-To

Business

Investing

Careers

Management & Marketing

Business News

Shopping

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller

Banks and other FIs continue to look for higher engagement with their customers. Logging into an account and refreshing a balance doesn’t create relationships. So, what’s an FI to do to drive real engagement. Michigan State University Federal Credit Union has rolled out a loyalty program that delivers gift cards directly to customers inside their accounts by merchants trying to acquire new customers. The program uses customer data to target offers that matter. And this is just the beginning as banks and credit unions find ways to extend their value proposition, building and strengthening relationships with their customers. 

I’m joined by Ben Maxim, Chief Innovation Officer at Michigan State University Federal Credit Union, and Brendan Grove, CTO of PrizeOut, who are to share their insights on how financial institutions are looking to provide more value to their customers, extended beyond that tried and true toaster.

We’ll discuss the power of partnerships between credit unions and fintech companies, and explore topics like the evolution of loyalty solutions, the challenges of integrating new technologies into existing credit union infrastructures, and the exciting possibilities for enhancing member engagement through personalized data-driven experiences. 

So, whether you're a bank or credit union product person, a fintech aficionado, or just curious about the future of banking, you're in for a treat. Let's get started!

How MSU Federal Credit Union uses incentives to get customers to move beyond just checking balances

We recently held a LinkedIn Live event, entitled "Card Launch 101," where we dove deep into the strategies, insights, and best practices for launching and growing successful card products in the fintech and banking industries.

Featuring industry experts:

Scott Johnson, Vice President of Revenue at Galileo Financial Technologies
Marc Butterfield, SVP of Innovation and Disruption at FNBO 
Jack Rubin, SVP of Consumer Financial Solutions at DailyPay

Listen is as these professionals share their wealth of knowledge and experience in scaling partnerships, driving innovation, and navigating the complexities of launching card products in today's dynamic landscape.

Here's what we discussed:

Understanding Card Launches: Gain insights into the key components of a successful card launch strategy, including strategic planning, market research, and product development.

Identifying Your Audience: Learn how to identify and understand your target audience through effective market research and data analysis.

Creating Your Card: Explore the process of designing and developing card products, from features and branding to user experience and regulatory compliance.

Partnerships and Business Development: Discover the role of partnerships in scaling card programs and expanding market reach, with real-world examples of successful partnership strategies.

Marketing and Promotion: Get insider tips on marketing and promoting your card product effectively, including targeted messaging, branding, and customer acquisition tactics.

Case Studies and Success Stories: Hear real-world examples of successful card launches and gain valuable insights and lessons learned from industry leaders.

To download Tearsheet's Card Guide 101, from ideating, partnering, building, launching and optimizing a card program, go to http://tearsheet.co/cardguide

Card Launch 101  The ultimate guide to build and launch a successful card

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller.

In this episode, we'll be diving deep into the world of customer experience (CX) transformation with Vanguard, one of the leading names in investment management. Joining us are Aaron Taylor, Chief Information Officer, and Marco De Freitas, Head of CX and Digital, two seasoned professionals who have been instrumental in Vanguard's CX modernization journey.

Throughout our conversation, we'll explore Vanguard's approach to modernizing its digital channels, client journeys, and service platforms. From laying down the foundational pillars to unlocking the potential of ‘CX Alpha’, Aaron and Marco share invaluable insights into how Vanguard is improving the way clients interact with their services.

We'll delve into the parallel advancements made by Vanguard, the impact of fintech innovations on their CX strategy, and how they measure the success of their initiatives both internally and with clients.

Stay tuned as we uncover the seminal steps behind Vanguard's CX transformation, explore the significance of data accessibility and personalized interventions, and discover what lies ahead in their journey towards even greater CX innovation.

So sit back, relax, and get ready to embark on an insightful episode into Vanguard’s CX modernization journey. Let's dive in!

Inside Vanguard's CX modernization journey

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller.

Today, I have the pleasure of sitting down with Dee Choubey, CEO of MoneyLion.

In our chat, Dee takes us on a journey through MoneyLion's evolution, from its early days as a venture-backed neobank to its current position as a headline fintech stock. With a blend of insight and humor, he shares the company's shift from a growth-at-all-costs mindset to a more sustainable position focused on distribution, strategy, and morale. Through market ups and downs, 

Dee underscores the vital role of staying mission-driven and the focused dedication of MoneyLion's team to empower Americans with better financial tools and literacy.

Looking ahead, Dee paints a vibrant picture of MoneyLion's future, where AI-driven search capabilities impact how consumers interact with their finances. MoneyLion isn’t the same company it was when I spoke with Dee almost 5 years ago. Since then, the firm has acquired two businesses which now function as an embedded banking product platform and an influencer content studio.

With a comprehensive product catalog, a dynamic consumer marketplace, and trendy media business capabilities, MoneyLion is poised to lead a charge in reshaping the future of finance.

So buckle up for an enlightening and entertaining conversation as we explore the past, present, and future of MoneyLion with the ever-insightful CEO, Dee Choubey.


The big ideas

Shift from Growth-At-All-Costs to Sustainable Strategy: "In 2019, we were a venture-backed, serious business. The expectation was continued growth of 100 to 150%. Keep burning. Don't worry about the burn."

Maniacal Obsession with Mission: "What got us through it was a maniacal obsession with mission. Our mission is to rewire the financial system, to give every American the right tools to make the best financial decisions."

AI-Driven Financial Search Capability: "Our search capability, AI-driven search across all of your financial institutions, you can talk to MoneyLion very soon and say, 'Hey, what happened this day, last year? This day, two years ago?'"

Empowering Americans with Financial Literacy: "Our ability to actually offer at scale, consumers the right financial basket, I think we're probably further ahead on that than most because we have the consumer in the marketplace."

Focus on Distribution, Strategy, and Morale: "My role has moved from being much more tactical and execution-oriented to much more focused on distribution, strategy, and morale, kind of like the vision and the mission."

Staying Mission-Driven Amid Market Volatility: "It's always better to multiply your options by a larger number than a lower number. We've had our days. At one point, the market cap had fallen below $100 million. But it's just owning your destiny."

MoneyLion's maniacal mission of rewiring finance with Dee Choubey

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller.

I'm thrilled to bring you a special episode today. After doing this for over 10 years, it’s not often I’m on the other side of the mic, being interviewed. But that’s exactly what we have in store for you.

What you're about to hear is a recording from my recent appearance on Gusto's SMB Tech Innovators Podcast, hosted by Brian Busch. In this conversation, Brian and I explore the intriguing intersections of traditional financial institutions, technology, and innovation.

Throughout our discussion, I share insights drawn from over 15 years of experience in the industry, including my role in reporting financial services news and producing over 650 podcast episodes. 

Together, we unravel the complexities of the financial services landscape and shed light on the evolving role of technology in shaping its future.

Join us as we delve into key themes such as:

Tearsheet’s journey and our focus on incumbent innovation.
The importance of partnerships between traditional finance and fintech.
Regulatory challenges faced by fintech entrepreneurs.
The transformative impact of embedded tools on SMB technology.
Success stories like Intuit and QuickBooks' ecosystem.
My insights on AI, quantum computing, and crypto in finance.
How banks are adapting to embrace new technologies.
The evolving landscape of fintech acquisitions.

This recording captures an interesting dialogue that I'm actually quite proud to share with you. So without further ado, let's dive into the conversation and explore the fascinating evolution of the financial services industry.

Here’s my conversation with Gusto’s Brian Busch.

Here's a link to the original conversation: https://embedded.gusto.com/blog/financial-services-technology-podcast-with-zack-miller/

Ty Burrell, actor and SMB owner, highlights government incentives For SMBs

Download our free app to listen on your phone