Fintech Business Podcast
Interview: Ampersand's Kelly Brown On Deposit Aggregation, Enhanced FDIC Coverage & More
Jul 31, 2024
Kelly A. Brown, Chairman and CEO of the deposit management startup Ampersand, dives into the intricacies of banking in light of recent challenges. She discusses the surge in interest around deposit insurance post-SVB collapse and clarifies common misconceptions about coverage. Kelly highlights optimal strategies for deposit aggregation and emphasizes the importance of proper account titling to ensure full FDIC protection. Her insights also address the complexities faced by municipalities and the vital role of fintech partnerships in navigating these challenges.
28:28
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Quick takeaways
- Kelly Brown emphasizes the necessity of deposit aggregation to enhance FDIC coverage, particularly in response to recent bank failures.
- Consumer education on proper account titling and FDIC insurance nuances is vital to avoid potential gaps in deposit protection.
Deep dives
Kelly Brown's Career Journey
Kelly Brown's career in banking began at the age of 19 after an impactful encounter with a teller that inspired her to help others achieve financial freedom. Over her 28-year career, she has held various positions within banks, from personal banker to CEO of Ampersand, a deposit aggregation firm. After her tenure at the American Deposit Management Company, which she helped establish, she emphasized the importance of deposit aggregation in light of recent bank failures, advocating for a national authority in this space. Kelly's extensive banking experience has equipped her to navigate and improve deposit management services.
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