American Banker Podcast

Banking as a service is expensive, it takes time and onboarding has to be done carefully, says the founder of Bancorp Bank, who now runs a venture capital firm that invests in fintechs. 

Cloud-based tech giants like Amazon, Google and Uber are changing the economy, and not for the better, asserts Yanis Varoufakis, a former finance minister of Greece and a professor at the University of Athens, who has written a book about the dangers of what he calls the "cloudalists."

Jennifer Tescher, founder of the Financial Health Network and a veteran in fintech, discusses the dual nature of financial technology. She highlights how some innovations, like automated savings, can benefit consumers, while others may not serve them well. The conversation dives into the complexities of earned wage access and the confusion consumers face regarding fees. Tescher also addresses the rising trend of financial instability in America and emphasizes the need for transparency in lending, especially for vulnerable borrowers facing economic challenges.

Geraldine Fleming, financial task force manager at United for Wildlife and Jonny Bell, director, EMEA, LexisNexis Risk Solutions explain how banks around the world are helping to catch criminals who illegally mutilate, kill and sell rhinoceroses, elephants, donkeys and other animals.

Eric Siegel, author of the book The AI Playbook, explains what it takes to take traditional and advanced artificial intelligence projects from idea to execution.  

The neobank doubled its membership to five million consumers and hired 200 people last year. Founder and CEO Renaud Laplanche explains how it fared during a time when many fintechs struggled.

This podcast explores the potential impact of generative AI on the financial services industry in 2024, including its effect on job roles, the concept of AI as a co-pilot tool in banking, the transformation of banking systems, and the importance of up-to-date data in enhancing AI insights.

The fintech revolution has been more successful at working with banks than at trying to replace them, points out Gene Ludwig, former Comptroller of the Currency, chair of the Ludwig Institute for Shared Economic Prosperity, and co-founder of Canapi Ventures. Those with “must have” products will fare far better in 2024 than those with “nice to have” tools, he says.

It's been a rough year for fintechs and for the venture capital firms that fund them. Venture capital flows into financial technology companies dropped by 36% year over year to $6 billion in the third quarter of 2023. But Amy Nauiokas, founder and CEO of Anthemis Group, is optimistic about 2024.

The podcast discusses the criticisms of national bank regulators and their oversight failures. It explores the collapse of Silvergate Capital and the role of the Federal Reserve in preventing bank failures. The effects of the Federal Reserve's interest rate policy on banks' balance sheets are explored. The closure of Signature Bank and its involvement with crypto-related firms is discussed. The importance of keeping politics out of bank regulation is emphasized.