🎧The Fintech OG Series: Max Levchin and Jackie Reses
Feb 27, 2024
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In this podcast, Max Levchin and Jackie Reses shared their journey in fintech, discussing personal challenges and future innovations. They touched on algorithmic lending, Square's impact, and global money movement. The episode also included insights on starting a fertility tech company and staying active by cycling during lockdown.
Max Levchin emphasizes solving complex problems and compliance in fintech startups.
Jackie Reses values trust and resilience in obtaining banking licenses for fintech companies.
Deep dives
Key Points about Max Levchin
Max Levchin, founder of a firm and co-founder of GLOW, emphasizes the importance of solving complex problems and moving deliberately in financial services startups. He highlights the significance of compliance and building strong relationships with regulators. Max expresses a deep curiosity about financial systems and enjoys navigating large complex systems while aiming to bring positive impact to people.
Key Points about Jackie Reese's
Jackie Reese's, Chair and CEO of Lead Bank, values trust among her co-founders, investors, clients, and employees. She acknowledges the importance of earning and maintaining trust in highly regulated industries. Jackie recalls the challenges faced while obtaining a banking license for Square, showing resilience and determination in overcoming obstacles.
Innovative Concepts in Fintech
The podcast discusses the innovative concept of algorithmic lending, which has revolutionized access to credit for small businesses and subprime consumers. This technological advancement in underwriting processes has had a profound impact on communities, aligning financial services with alternative data sources. Additionally, the democratization of card processing and design-centric payment solutions, exemplified by companies like Square, has transformed consumer payment experiences.
Predictions for the Future of Fintech
Looking ahead, the podcast speculates on upcoming trends in fintech, anticipating advancements in expense management tools and streamlined cross-border money movement solutions. The discussion emphasizes the need for integrated revenue-expense matching tools and simplified tender delivery processes to enhance financial operations globally. The potential evolution of personal financial managers and innovative approaches to financial data management are highlighted as areas of interest for future fintech development.
In episode number 2 of the Fintech OG series, we talk with Max Levchin, Co-Founder and CEO of PayPal, Affirm, and a number of other companies (Yelp, for instance) and Jackie Reses, best known for her time at Square helping Jack Dorsey's payments company get a banking license. Currently, she's the CEO of Lead Bank and sits on a number of company boards, including NuBank.
These two dove into how they got into fintech, their personal ups and downs (find out what sent Max to the floor in the early days of Affirm), and what they expect the biggest innovations to be over the next decade.
Also, huge thanks to our sponsors at FS Vector and Empire Startups! Go to fsvector.com/headmaster to learn more about their new compliance training platform, and if you still haven't bought your ticket to the Empire Startup Conference in NYC during New York Fintech week, go to empirestartups.com and use code "FintechOG" for a special discount!
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