In this episode of "Rex & Simon Talk Fintech," I chat with Simon, head of strategy at Sardine, about the rising threat of deep fakes and their impact on KYC processes. We dive into how traditional KYC is being outpaced by new technologies and what companies like Sardine are doing to stay ahead. We also explore the FDIC's new rule and its implications for embedded finance, as well as Klarna's bold move to replace Salesforce with AI-driven solutions. Finally, we discuss the broader impact of AI on financial services and the evolving landscape of fintech.

Simon Taylor: https://www.linkedin.com/in/sytaylor/

00:00 - Deep Fakes and the KYC Crisis

01:37 - Why Traditional KYC Is Failing

04:23 - How Sardine Tackles KYC Challenges

05:51 - The Importance of Collaboration in Fraud Prevention

07:21 - FDIC’s New Rule: Threat to Embedded Finance?

10:15 - Understanding Brokered Deposits and Risks

12:21 - Klarna Drops Salesforce: End of SaaS?

16:08 - The Role of AI in Replacing SaaS Systems

19:56 - What Is an “Agentic” Offering?

22:39 - AI’s Impact on Financial Services

24:42 - Macro Trends and Their Impact on Fintech

32:03 - Rebundling Financial Services

34:37 - Final Thoughts and Lessons Learned

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