Fintech Takes

S9 E9: Not Fintech Investment Advice: Paydock, Bluespine, Astrada, and Rise

Nov 27, 2024

Simon Taylor, a fintech expert with a knack for analyzing industry trends, joins the discussion. They dive into Paydock's innovative approach to modernizing bank tech without upheaval. Bluespine's AI-driven self-insurance solution for large employers highlights a crucial industry clash between productivity and cost-cutting. Taylor also covers Astrada's 'bring your own card' service, reshaping how platforms offer financial perks while fostering partnerships with major players like Citibank and Brex, setting the stage for future fintech evolution.

58:31

Episode guests

Simon Taylor

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Paydock innovates payment orchestration by enabling acquiring banks to modernize services without extensive overhauls, enhancing customer experience.

Bluespine automates self-insurance for large firms through AI, helping them manage claims and reduce administrative burdens while controlling healthcare costs.

Astrada's BYOC service allows platforms to integrate financial perks without issuing cards, reflecting a shift towards customizable user experiences in finance.

Deep dives

The Role of Bank Partnerships in FinTech

Bank partnerships are essential for the success of embedded finance and FinTech endeavors. A notable example is NewLine, developed by Fifth Third Bank, which allows enterprises to launch payment products via their API-first platform. This highlights the need for collaborative models in the industry, as partnerships provide crucial support in navigating a regulatory landscape while fostering innovation. The ongoing discussions at the American FinTech Council event showcase the industry's recognition of the importance of these collaborations.

Intro

2min

Exploring Collaboration Between Regulators and Fintech Innovators

2min

Transforming Banking Through Technology

20min

The Evolution of RPA: From Productivity to Cost Efficiency

3min

Revolutionizing Payments with BYOC and Stablecoins

26min

Enhancing Fintech Regulatory Visibility and Empathy

4min

Welcome back to Not Fintech Investment Advice, where we spotlight new and exciting fintechs.

I’m Alex Johnson, creator of Fintech Takes, joined by Simon Taylor who’s gracing us stateside in Washington, DC.

It’s been a wild week—imagine the former FDIC chair on stage as news broke that the *current* FDIC chair, Marty Gruenberg, had resigned, all in a room packed with regulators and sponsor banks…and the two of us. Talk about a vibe shift.

Big shoutout to the American Fintech Council for putting on a wonderful event.

First up, Paydock is flipping the script on merchant acquiring—think "bank direct," but for acquiring, not issuing. They’re upgrading bank tech without the messy, painful internal overhaul. This way, banks can woo new customers with modern features they couldn’t offer before while staying price-competitive.

Next, Bluespine is automating self-insurance for large employers with an AI-powered platform tailored to each company's plan. Self-insurance works for big companies, but being the insurer is costly. A recent Money 20/20 report highlights a clash: AI companies pushing for productivity gains VS others focus on cutting costs. How these forces play out will be key.

Then, Astrada is reimagining embedded finance with “bring your own card” (BYOC) as a service, allowing platforms to offer financial perks without issuing cards. Given that Navan’s BYOC pivot unlocked partnerships with Citibank and Brex, and Visa and Mastercard are adapting, too, this trend raises a key question: Will Ramp stick to their proprietary system, or will BYOC become the new norm?

And lastly, Rise is using stablecoins to solve the nightmare of paying global contractors. Could this decentralized approach be the future of seamless cross-border payments? Let's dive in and find out.

Plus, we dive into the future of fintech innovation, from building regulatory visibility to exploring how a "call report" for fintechs could reshape market transparency and regulatory oversight.

00:03:28 - Paydock

00:14:35 - Bluespine

00:25:18 - Astrada

00:37:59 - Rise

00:50:38 - Manifesting Fintech Ideas

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And for more exclusive insider content, don’t forget to check out my YouTube page.

Follow Simon:

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

Substack: https://sytaylor.substack.com

Follow Alex:

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

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

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

Companies featured:

https://paydock.com/

https://www.bluespine.io/

https://astrada.co/