Wade Arnold, CEO of Moov, discusses Fintech Devcon, US payment infrastructure, lessons from Synapse bankruptcy, and optimism in fintech. Topics include political donation processing, challenges in FinTech, developments in payment space, and Moov's role in financial services.
Moov offers real-time payment processing with scalability for unique sectors like political donations.
FinTech DevCon conference bridges tech and finance, promoting open learning and industry insights.
Deep dives
Move - Revolutionizing Fintech Payments
Move is a Fintech infrastructure company in the US that offers acquiring processing services directly connected to major payment networks like Visa Direct and MasterCard Send. Their cloud-based approach distinguishes them, enabling real-time payment processing with enhanced scalability. Notably, they cater to unique sectors such as processing political donations requiring rapid onboarding and high scalability, showcasing their ability to handle peak transaction volumes efficiently.
Fintech's Evolution at FinTech DevCon
The FinTech DevCon conference focuses on bridging the gap between technology and finance, emphasizing discussions on technical topics like data security and ledger reconciliation tailored for the financial services domain. It caters to a diverse audience, including product managers, engineering managers, and programmers, fostering curiosity and deeper understanding of financial technology. The event emphasizes open learning with voluntary speaker contributions and a developer-centric approach to industry insights and solutions.
Challenges in Financial Services Infrastructure
The podcast delves into the intricacies of financial infrastructure challenges, emphasizing the critical role of real-time reconciliation and regulatory compliance in maintaining operational stability. The discussion highlights industry-wide issues like fragmented ledgers and the need for robust last-mile payment solutions to drive widespread adoption of new protocols like FedNow and RTP. Addressing the gaps in legacy systems and promoting interoperability are crucial for industry progress.
Future Perspectives in US FinTech
The outlook for US FinTech showcases a period of recalibration post the peak investment era, signaling a shift towards more sustainable and robust business models. Companies like Move and other infrastructure providers are poised to thrive by tackling core financial services challenges and driving innovation. Despite regulatory concerns impacting valuations, the sector retains growth potential, with a focus on solving complex financial problems for broader accessibility and modern consumer demands.
In this episode, I had the chance to sit down with Wade Arnold, cofounder and CEO of Moov, a fintech infrastructure company that enables and simplifies push and pull card payments. Moov also puts on the Fintech Devcon conference, which is August 7th-9th in Austin — more info and tickets here. We had a chance to talk about:
* What to expect at (and what I should wear to) Fintech Devcon
* Payment and core banking infrastructure in the US
* Implications of and lessons from the Synapse bankruptcy
* Reasons to be optimistic about the future of fintech
* and more!
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