60: Immad Akhund, Founder and CEO Mercury Bank

This week we dug into the future of banking. When you think of the macroeconomy top down - banking and financial services are bar none the largest market in the world, constituting just around ~20% of GDP. Even though the market is so large, we’ve continued to see consolidation and asset aggregation in the largest institutions in the world - and for historically good reason: banking requires strong compliance, risk and trust protocol.

After we hit the onset of the financial crisis, trust began to erode in many large financial institutions and we started to see the onset of the challenger bank. Banks focused on a targeted experience and technology set attractive for millennial and Gen Z consumers. This week I chatted with Immad Akhund, Founder and CEO of Mercury Bank. Simply put, Mercury is a bank for startups. In this conversation we talked about the evolution of the banking experience, the landscape of consumer banking, how he thinks about every company seemingly becoming a fintech bank these days and leading a company in the time of COVID.