This Week in Fintech's Podcast

In this episode, Jillian is joined by the co-founders of Cognito, an ID verification and KYC provider to the fintech world, which was acquired by Plaid in 2021. Alain Meier, Co-Founder and CEO of Cognito (acquired by Plaid) John Backus, Co-Founder and CTO of Cognito (acquired by Plaid) Building The Best dives deep into the fundamentals of creating and scaling transformative products through interviews with the best founders in fintech.

FinTech news, scams, and fraud with a special guest. 0:00 Helen discusses changes to Hey Fintech Friends podcast now the TWIF podcast, News, and fintechtionary: with a focus on the difference between scams and fraud. Fraud prevention and scams in the digital age. 4:47 Sardine prevents fraud and identity theft by detecting and preventing unauthorized transactions. Sardine's API helps financial institutions detect fraud and scams, with a focus on young adults who are frequent online users. Fraud and scams in payments. 8:03 Soups clarifies fraud and scam differences: fraud is unauthorized use, scam is authorized but misleading. Helen was scammed out of money by someone claiming to be a landlord in Lisbon, who requested additional payment after she had already sent a deposit. Helen felt embarrassed and ashamed about being scammed, and struggled to come forward due to the emotional impact. Soups explains that the core problem with faster payment methods is that there is no built-in dispute mechanism, making it difficult to determine if the payment instrument matches the identity of the individual on the other side. Sardine's long-term vision is to create a database of trustworthy parties for faster payments, allowing for more secure transactions and reducing the risk of fraud. Banking and payment scams, solutions to prevent fraud. 14:14 Soups highlights the rapid growth of scams and fraud, particularly in the UK and US, where faster payment systems have led to increased losses due to authorized push payment scams. Soups predicts that regulators will soon take a closer look at this issue, potentially leading to changes in how victims of scams are treated. Soups explains the core problem of sender verification in online transactions, which is the lack of built-in sender verification in internet protocols like DNS, email, and voice over IP. Sardine's solution is to build in signals to detect if someone is being scammed in real time, using tools like screen sharing and remote session detection. Regrets and lessons learned as a founder. 19:50 Soups reflects on their experience with Sardine, a startup they co-founded, and shares two key insights: prioritizing health and not hiring a salesperson too early. Soups advises other entrepreneurs to prioritize their health and wait until they reach $1 million in ARR before hiring a salesperson. FinTech, fraud detection, and compliance. 23:18 Helen and Soups discuss the importance of authenticity and building relationships in sales, with Soups sharing their experience of learning through rejections and following up quickly. Soups predicts that in the next 12-24 months, we will see a FinTech story that has not yet been seen, possibly related to the impact of the pandemic on time and its effects on the industry. Soups predicts increasing interconnection of faster payment methods worldwide, leading to competition for Visa and Mastercard. Soups company aims to provide fraud and compliance solutions for fintechs and banks building new products on faster payment methods. Quick Fire, Signals and Events. 29:35

We're excited to kick off a new series for The TWIF Podcast, Building the Best, hosted by the fantastic Jillian Williams of Cowboy Ventures. In this series, we'll dive deep into the fundamentals of building transformative products, by interviewing the best founders in fintech.

Dive into the thrilling world of FinTech with the latest episode of "This Week in FinTech," a must-listen for anyone keen on the intersection of finance and technology. Discover inspiring stories of innovation and partnerships, like Paymentology's collaboration with Visa, and explore the transformative impact of financial inclusion, particularly through prepaid card solutions for underbanked communities. The episode also delves into the challenges and opportunities of creating equitable digital payment platforms, making it an essential listen for those fascinated by the ethical and practical dimensions of FinTech. Packed with insights and expert perspectives, this podcast episode is your gateway to understanding and appreciating the dynamic world of financial technology.

In a riveting dialogue that takes you on a journey through technology, personal evolution, and societal shifts, Simon and Helen delve deep into the transformative power of gamification. From its impact on modern-day dating apps to finance and healthcare, they unpack the pros and cons of this motivational tool. Simon opens up about his personal tribulations, shedding light on how hardships can shape one's outlook and build resilience. But the debate doesn't end there; they also ponder whether adversity is the only path to developing empathy and resilience, or if self-mastery can be achieved through alternative avenues. Throughout their conversation, expect a cerebral tennis match filled with insightful analyses and thought-provoking debates that promise to challenge your viewpoints on multiple fronts. Don't miss this intellectual feast that leaves you questioning, pondering, and above all, eager for more.

Intro to the podcast. 0:00 What is Minerva AI and how does it work? 5:19 The future of anti-money laundering compliance. 10:18 Regulation and regulation of crypto. 15:33 Why do we do what we do? 21:16 Bringing the human side of compliance to the forefront. 27:28 Quick Fire? 33:31

Intro to the show. 0:00 Welcome to one of the best news and fintech podcasts out there. Fintechionary: mpesa, a mobile banking service that allows users to store and transfer money through their mobile phones. News Benjamin's background. 5:05 Benjamin Fernandez, founder and CEO of Nala, and how he got involved in the payments industry in the first place. Why Africa is the most expensive region to transact in the world. Building African payment routes. The challenges of payments across the continent. 8:11 Going to Gambia Payments across Africa are going to be built over the next five to 10 years, and there is massive opportunity and challenges. The future of the African tech space over the next five to 10 years, and what the future of African tech will look like in the region. How African countries will be able to trade with each other more often and more frequently and also make sure the cost of these trades is low. Responsibility of the diaspora to help the continent. 13:23 The big question that everyone has been trying to ask themselves since independence is the question of what responsibility the diaspora has to Africa. The burden of financial support for African families in the U.K. is a lot of weight, and the burden falls on fellow African citizens. The two most popular reasons for sending money home are the health industry and the education industry. How does the diaspora see the country? 18:48 The african cross-border trade volume has doubled in the last two years, and there is no other region in the world where that has happened. There are many pull and push factors from this. For example, sometimes there was trade happening through cash on planes, and because of covid, a lot of those transactions have become digital. The market size is significantly massive. Most people don't realise how big it truly is. How to build trust into a digital product? 23:19 One of the things that has worked really well for Nala is transparency. They tell their customers every single thing they're building. They also do customer meetups. Nine out of 10 customers after one year still use Nala because of the honesty they are honest.

Welcome to this week’s episode. 0:00 Welcome to the fintech podcast. Fintechionary News Karta and their mission. 4:41 Introducing Karta and his mission. The pain point of gift cards. The need for gift cards in the UK. Bringing gift cards into the 21st century in a new way for younger people. What does the big plan look like for Karta? 11:26 Partnering with retailers in Australia. Gift card sales. Is the focus on brick-and-mortar stores still the best option for gift cards? 15:30 Gift cards, brick and mortar, and online. The culture of gift cards. The worst gift card experience. The two-fold effect of gift cards. What’s one fintech story we haven’t seen yet that we’re excited about? 22:02 Fintech hot takes today. Claire shares her regrets as a founder. The importance of survival and cash flow. The difference between working for a big company vs a startup? 25:44 The oh-shit moment. Quick Fire, Signals and Events 30:34

Intro Fintechionary: 0.58 News: 1.38 Interview: 5.14 Signals: 44.30 Events: 46.50

0.55 - Fintechionary DAO 2.13 - News 6.00 Guest Interviews 41.10 - Signals 43.00 - Events