Fintech Business Podcast
Interview: Michele Alt, Klaros Cofounder & OCC Veteran
Apr 30, 2025
Michele Alt, cofounder and managing director of Klaros Group, brings over 22 years of experience from the Office of the Comptroller of the Currency. She dives into the opportunities presented by the opening of the "charter window" for fintechs, explaining when it makes sense to acquire a bank versus starting a de novo. Michele also discusses her work on SmartBiz's acquisition of Centrust Bank and shares insights on the evolving regulatory landscape in Washington that could impact the financial sector. Her expertise sheds light on the future of fintech and banking.
48:53
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Quick takeaways
- The current regulatory shift is fostering optimism for fintechs, encouraging them to explore new bank charters amid evolving approval processes.
- Accurately assessing the de novo versus acquisition pathways reveals strategic considerations fintechs must navigate to successfully integrate banking operations.
Deep dives
Regulatory Landscape Shift
The podcast discusses a recent shift in the regulatory landscape relevant to the FinTech industry, showcasing a growing optimism concerning the approval of new bank charters. This is exemplified by multiple companies filing for Industrial Loan Company (ILC) charters and notable applications like Stripe's pursuit of a special purpose charter in Georgia. The approval of SmartBiz's acquisition of Centrust Bank marks a significant change in the environment, representing the first fintech applicant approval in a new administration after years of stagnation. These developments signify a potential resurgence in new bank formation and a more favorable atmosphere for fintech innovators seeking to expand their services.
