In This Episode What’s the key to financial security today? As technology and a shifting economy reshape how we save, spend, borrow, and plan for the future, mastering the art of money management is critical for achieving financial health. Listen as Jennifer Tescher, host of sister podcast Emerge Everywhere and Founder of the Financial Health Network, speaks with Suze Orman – personal finance expert, author, Emmy Award winner, and Co-Founder of workplace emergency savings platform SecureSave – about the critical role of savings and an important step companies can take to support employees’ financial success today. Dedicated to improving financial health for all, especially the most vulnerable among us, Emerge Everywhere tackles the complex issues intersecting the financial well-being of people across America while exploring how to build an inclusive economy. Listen now! Read the entire transcript here. Podcast Content: Chapter 1: Introduction and the Changing Landscape of Personal Finance (00:00) A reflection on how financial habits have evolved over the past two decades, with a focus on new tools, technology, and the challenges people face today. Chapter 2: The Disconnect Between the Economy and Everyday Americans (05:20) Suze Orman discusses the stark difference between national economic indicators and individual financial realities, emphasizing that many Americans are still struggling despite a strong stock market. Chapter 3: Lessons from the 2008 Financial Crisis and Beyond (12:10) A look back at how financial behaviors changed after the Great Recession, the long-term effects of financial fear, and how past economic crises still impact people’s financial decisions today. Chapter 4: The COVID-19 Effect: A False Sense of Security? (18:45) Examining how government stimulus during the pandemic created short-term financial stability, only for many people to fall into debt when support was removed. Chapter 5: Financial Behavior vs. Systemic Barriers (24:30) The debate between personal financial responsibility and the role of systemic challenges, including inflation, job access, and government policies in shaping financial well-being. Chapter 6: Educating the Next Generation on Money (31:15) Suze Orman raises concerns about how young people are learning about personal finance, questioning whether influencers and social media platforms are reliable sources of financial education. Chapter 7: The Importance of Emergency Savings (38:40) A deep dive into SecureSave, Suze Orman’s initiative to help employees build emergency savings, and why she believes savings—not investing—should be the foundation of financial security. Chapter 8: The Role of AI in Personal Finance (46:20) Suze speculates on the future of AI-powered financial advisors, discussing both the potential benefits and risks of AI replacing human financial guidance. Chapter 9: The Changing Face of Retirement and Aging (52:10) A discussion on financial security for aging populations, including how women often outlive their partners and the financial struggles they face later in life. Chapter 10: Closing Thoughts – Financial Security for All (58:30) Suze Orman shares her final thoughts on how individuals and businesses can take action to improve financial stability, and the need for a more holistic approach to financial education. Related Content: Episode 127 - Unconventional Saving Products Will Financial Advisers Be Replaced By Crowd, How Does Tech Change GenYs Plan Investment & Saving? Moving From Personal Financial Management To Personal Financial Performance A Penny Saved, in A Bank, Is A Penny Earned? Digital Identity- FinTech keeping ahead of fraud

In This Episode 2024 is a wrap! Listen as industry leaders and fintech influencers share insights on the year that was before turning the lens forward to 2025. What will be hot in this new year? Back by popular demand, Breaking Banks hosts Brett King and JP Nicols assemble banking industry leaders and fintech influencers to get their takes and predictions on what 2025 has in store for the banking industry. Joining the discussion are Jim Marous (The Financial Brand, Banking Transformed), Ron Shevlin (Chief Research Officer, Cornerstone Advisors and Forbes Contributor), and Mary Wisniewski (Cornerstone Advisors, Money Isn’t Everything). Together, they explore critical topics shaping the industry, from fraud, risk, and efficiency to cutting-edge innovations like Agentic AI and LLMs, as well as developments in open banking, 1033, and the CFPB. And what about the lingering impact of the Synapse story from 2024? Will 2025 bring a reckoning, or are brighter days ahead for the industry? Tune in for a lively and engaging conversation packed with expert insights and bold predictions. Happy New Year from the team at Breaking Banks Read the entire transcript here. Podcast Content: Chapter 1: A Look Back at 2024 (00:00) The discussion opens with reflections on the major events of 2024, from economic shifts to major fintech and banking milestones. The panelists explore how the industry evolved and what lessons were learned. Chapter 2: The Fintech Reckoning and Market Optimism (07:20) The fallout from the Synapse failure and regulatory challenges dominated 2024. The discussion highlights how fintechs have adapted, and why, despite hurdles, optimism is growing for 2025. Chapter 3: The Rise of AI in Banking (15:45) AI took center stage in 2024, from fraud detection to customer service enhancements. The conversation explores how AI’s role in banking is expanding and what that means for both traditional banks and fintechs. Chapter 4: The Global Perspective on Fintech Innovation (25:10) While much of the conversation is U.S.-focused, the panel examines key developments worldwide, including digital banking growth in Latin America, China, and Africa. Chapter 5: The Future of Open Banking and Regulation (32:40) With Section 1033 and the CFPB's evolving stance, the discussion turns to the state of open banking and data ownership. What are the regulatory barriers, and how will they impact fintech innovation? Chapter 6: Agentic AI and Banking’s Next Transformation (41:00) The emergence of AI-driven financial agents is set to reshape personal finance. The panel debates how AI could soon manage customer financial lives better than traditional advisors. Chapter 7: The Fintech IPO Landscape and Market Predictions (50:30) With Klarna and Chime considering IPOs, the panel speculates on the first big fintech public offering of 2025. They also discuss when the first AI fintech unicorn might emerge. Chapter 8: The Future of Financial Services in a Digital-First World (58:10) The conversation wraps up with a bold look at how fintech, AI, and regulatory shifts will shape the financial industry. Will 2025 truly be a stellar year for banking? Related Content: Episode 529: Is 2024 the Year That BaaS Goes Boom? Episode 561: Demystifying Fintech: Insights on Banking's Future Episode 545: Buzzword Bingo Episode 560: Killing It: Ohad Samet on Reimagining Debt Collection Bank-Fintech Partnerships, Open Banking and AI...oh my! https://www.youtube.com/watch?v=yahPylU7TCw

Anthony Thomson, an entrepreneur and founder of innovative banks like Metro and Atom, joins the discussion to share insights on transforming the banking landscape. He delves into the digital banking revolution, emphasizing the shift from traditional to customer-centric services. With anecdotes about building successful banks, he highlights the importance of trust and engagement in the digital age. Thomson also contrasts neo-banks with traditional institutions, offering a vision for a future where value, not just profit, drives the banking experience.

This week, host Brett King sits down with Colin Walsh, Founder and CEO of Varo Bank, to explore the journey of building the first all-digital, FDIC-insured de novo bank in U.S. history. Designed to improve financial health and serve a diverse range of customers—from those with financial abundance to those facing economic hardship—Varo Bank is on a mission to create a banking experience that truly works for everyone. With the unique distinction of being the first consumer fintech to be granted a bank charter in US history, Varo is redefining banking with innovative products tailored to modern consumers' needs. From managing fraud and credit risk to building trust and leveraging a cutting-edge tech stack, they delve into the strategies that power Varo’s ability to stay agile and customer-focused. Whether it’s delivering accessible savings and lending solutions or tackling the challenges of financial inclusion, Varo Bank’s story is one of innovation and impact. Tune in for a wide-ranging discussion on how Varo is using digital banking to create financial inclusion by addressing the real financial challenges that Americans face every day. Read the entire transcript here. Podcast Content: Chapter 1: (00:00) - Introduction and Varo Bank's Unique Path Brett King introduces the episode and welcomes Colin Walsh, founder and CEO of Varo Bank, to discuss their journey as the first pure-play digital bank with a de novo charter. Chapter 2: (04:15) - Navigating Industry Challenges Colin reflects on the pandemic's impact, funding market changes, and navigating regulatory challenges while focusing on profitability and customer-centric innovation. Chapter 3: (10:45) - The De Novo Advantage A discussion on Varo's strategic decision to pursue a de novo national bank charter, contrasting it with fintech sponsorship models and highlighting its benefits. Chapter 4: (16:30) - Building a Competitive Tech Stack Colin details Varo’s proprietary technology investments, including AI, machine learning, and the migration to React Native, ensuring agility and innovation in product offerings. Chapter 5: (24:50) - Lending Innovation and Financial Inclusion Varo's approach to cash-flow-based lending and leveraging technology to responsibly serve non-prime, paycheck-to-paycheck consumers is explored in depth. Chapter 6: (32:10) - Tackling Fraud with Technology The team discusses how Varo combats sophisticated fraud through advanced tech and the advantages of being a technology-first bank in risk management. Chapter 7: (37:40) - Scaling with Discipline A look at Varo’s approach to disciplined customer acquisition, organic growth, and creating high lifetime value customers through deep engagement. Chapter 8: (44:00) - The Future of Financial Inclusion Colin explains Varo’s mission to become a financial operating system for underserved Americans and discusses innovations like embedded financial tools. Chapter 9: (50:30) - IPO Plans and Market Consolidation The conversation shifts to Varo’s long-term goals, including profitability milestones, potential IPO timelines, and strategic opportunities in a consolidating market. Chapter 10: (58:15) - Looking Ahead Colin previews upcoming initiatives, including a new app launch and partnerships, and emphasizes Varo’s role in addressing financial stress for customers. Related Content: Special Episode: Navigating the Crisis Episode 553: The Secret of NIM Episode 560: Killing It: Ohad Samet on Reimagining Debt Collection Huawei Does Gen-Fi A Digital Banking Revolution in SEA: GXBank and Mastercard https://www.youtube.com/watch?v=1lIqYB3d4IY

In This Episode Southeast Asia’s fintech revolution is here, and GXBank is leading the charge. From its roots as a ride-hailing service to becoming Malaysia’s first digital bank, GXBank is transforming how Malaysians access and manage their money. This week on Breaking Banks, host Brett King sat down with GXBank’s Chief Commercial Officer, Kaushik Chowdhury, and Mastercard’s Senior Vice President & Country Manager for Malaysia and Brunei, Beena Pothen. They discuss the incredible journey of GXBank, the partnership with Mastercard, and how the bank is reshaping financial inclusion in Southeast Asia. GXBank, a subsidiary of GXS Bank Pte. Ltd. (a joint venture between Grab and Singtel), officially launched operations September 1, 2023, introducing its app two months later. In a year, the bank has amassed over 750,000 customers, offering innovative and personalized solutions to support financial resilience and inclusion. Learn how GXBank is making banking accessible to all Malaysians while setting a new standard for digital banking in the region. Discover how Mastercard’s cutting-edge technologies and deep fintech expertise are empowering GXBank to deliver smarter, more inclusive financial solutions. As fintechs look to build, launch, and grow their business, Mastercard is helping to drive smarter decisions for better outcomes through strong partnerships across the payments ecosystem. Resources:Learn more about GXBank: gxbank.myExplore how Mastercard supports fintech innovation: Mastercard Fintech Services Read the entire transcript here. Podcast Content: Chapter 1: 00:00 - Welcome and Introduction Brett King introduces the episode, focusing on digital banking trends in Southeast Asia with GXBank and Mastercard as key players. Chapter 2: 03:30 - GXBank: Building a Digital Bank from Scratch Kaushik Chowdhury discusses GXBank’s journey, from user research to creating a mobile-first digital bank in Malaysia. Chapter 3: 10:15 - The Evolution of Banking in Southeast Asia Bina Pothan highlights the rapid adoption of digital banking in Southeast Asia, driven by smartphones, internet access, and changing consumer expectations. Chapter 4: 18:00 - Financial Inclusion through Digital Innovation Exploring how GXBank and Mastercard aim to serve underserved and financially vulnerable populations across Malaysia and the region. Chapter 5: 26:30 - Leveraging Partnerships for Success Insights into GXBank’s partnership with Mastercard, enabling rapid launches and delivering impactful financial products to consumers. Chapter 6: 34:45 - Payments Innovation and Embedded Finance Examining GXBank’s focus on payment solutions, including QR systems, debit cards, and embedded banking experiences with Grab. Chapter 7: 42:00 - Overcoming Challenges in Digital Banking Kaushik discusses the challenges of building a digital bank, including hiring, partnerships, and balancing innovation with trust and security. Chapter 8: 50:15 - Future Plans and Scaling Ambitions GXBank outlines its roadmap, aiming for profitability and becoming a top bank in Malaysia by leveraging its ecosystem and customer-centric strategies. Chapter 9: 57:30 - Key Takeaways and Final Reflections Bina and Kaushik emphasize trust, utility, and collaboration as essential elements for succeeding in the digital banking revolution. Related Content: Fintech Visionaries and Revolutionaries & What's Up With Bitcoin? Bank-Fintech Partnerships, Open Banking and AI...oh my! Huawei Does Gen-Fi Shopify Finance: Fueling Merchant and Small Business Growth Episode 558: Fintech Visionaries Reimagining the Future of Finance: Start Path Recorded end of September

In This Episode Good leaders drive day-to-day results. Great leaders share visionary ideas and then inspire organizations and stakeholders to find a way to get there. In today's second segment, Jennifer Tescher, host of sister podcast Emerge Everywhere, introduces this year’s Financial Health Visionary Award honoree, Brian Moynihan, Chair and CEO of Bank of America. The Visionary Award recognizes those who have shown unparalleled leadership in building a more inclusive financial system and empowering the next generation of leaders to innovate solutions that improve financial health for all. Listen to hear about Brian's commitment to financial health and the upcoming headwinds and tailwinds impacting customers’ financial health. But first, bestselling author Michael J Casey, the chairman of DAIS (Decentralized AI Society), senior advisor on MIT Media Lab’s Digital Currency initiative, and previous Chair of Consensus at CoinDesk, joins Brett to talk about the reality of decentralized and open source AI. The intersection of DeFi and DeAI appears to be a logical path if not for the hundreds of billions being invested in big tech efforts to create AGI. Is it possible to really make AI less centralized and still deliver the promise of a highly automated world? You’ll need to tune in to find out! Read the entire transcript here. Podcast Content: Chapter 1: 00:00 - Welcome and Introduction Brett King introduces Michael J. Casey, discussing his transition from Coindesk to leading decentralized AI initiatives at DAIS. Chapter 2: 03:45 - The Concept of Decentralized AI Michael explains the importance of decentralizing AI to avoid monopolies and to democratize access to AI-driven innovations. Chapter 3: 12:30 - Challenges and Innovations in Decentralized AI Exploring technical and economic challenges in implementing decentralized AI, including blockchain integration and distributed computing. Chapter 4: 22:00 - Data Ownership and Privacy in Decentralized Systems The shift from data privacy to data ownership, with blockchain providing traceability and ensuring compliance in AI applications. Chapter 5: 30:15 - Financial Inclusion through Decentralized AI How decentralized AI can drive financial inclusion, especially for underbanked communities, by creating fairer access to financial tools. Chapter 6: 38:45 - Open Health Data and Decentralized Models A comparison between open banking and the potential for open health data, emphasizing secure, decentralized systems for sensitive data. Chapter 7: 46:15 - The Future of Decentralized AI in Financial Systems Michael and Brett discuss the long-term potential of decentralized AI to reshape financial services, creating smarter and more inclusive systems. Chapter 8: 54:00 - Reflections on Michael’s Book: "Our Biggest Fight" Insights from Michael’s book on reclaiming digital autonomy, setting the stage for the critical role of decentralized AI. Related Content: Huawei Does Gen-Fi Bank-Fintech Partnerships, Open Banking and AI...oh my! Shopify Finance: Fueling Merchant and Small Business Growth Fintech Visionaries and Revolutionaries & What's Up With Bitcoin? AI is coming to help! https://www.youtube.com/watch?v=-QSByxCEUbA

This week on Breaking Banks, host Brett King takes us to Shanghai for a riveting discussion with Jason Cao, CEO of Huawei's Global Financial Services competency. In this eye-opening episode, they uncover how China is shaping the future with AI—not as a mere tool for profit, but as core infrastructure driving the world's fastest-growing economy. Discover why GenFi LLMs (Generational Financial Language Models) don’t exist yet—and what’s holding AI like ChatGPT back from transforming banking as we know it. Explore how China’s unique approach to technology infrastructure is setting them apart from the rest, helping them to create a Smart Economy of the Future. Tune in for a conversation that could redefine the future of global finance and AI! Read the entire transcript here. Podcast Content: Chapter 1: 00:00 - Welcome and Introduction Brett King and Jason Henricks introduce the episode, recorded in Shanghai, featuring Huawei's Jason Tsao discussing fintech innovations. Chapter 2: 03:30 - Global Fintech Highlights: NewBank and Beyond Exploring global fintech trends, including NewBank's growth and the technological strides of digital-first banks like WeBank. Chapter 3: 10:45 - Huawei’s Vision for Smarter Finance Jason Tsao shares insights into Huawei’s initiatives in digital finance, AI integration, and the transformation of customer experience in banking. Chapter 4: 20:00 - Resilience in Financial Infrastructure A discussion on the critical need for resilience in banking systems, addressing latency, zero downtime, and advanced fraud prevention technologies. Chapter 5: 30:15 - AI-Driven Banking and Generative Finance Exploring how Huawei collaborates with banks to leverage generative AI for efficiency, value creation, and customer-centric innovations. Chapter 6: 40:00 - Digital Infrastructure in China: A Global Example Highlighting China's advancements in digital payments, infrastructure, and regulatory approaches that drive a highly digital economy. Chapter 7: 50:30 - Cloud Strategies for Financial Institutions Examining the rise of hybrid cloud strategies and the pivotal role of cloud computing in transforming banking operations. Chapter 8: 59:00 - The Future of Autonomous Finance How AI and automation are shaping the next generation of financial services, inspired by China's digital transformation. Chapter 9: 65:00 - Invitation to Explore the Future in China Jason Tsao extends an invitation to global audiences to witness the rapid technological advancements in Shenzhen and across China. Related Content: Bank-Fintech Partnerships, Open Banking and AI...oh my! Shopify Finance: Fueling Merchant and Small Business Growth Fintech Visionaries and Revolutionaries & What's Up With Bitcoin? Episode 189: Disruption Stories: Generative AI for Investments Episode 405: Driving Change Through Talent and Infrastructure https://www.youtube.com/watch?v=bCqmVDiKms4

In This Episode Strong partnerships and value creation can make even solid companies better! Serving over 80% of the top digital payment and neobank fintechs on the CNBC Global Fintech list, Mastercard takes a collaborative approach to innovation. By viewing fintechs as true partners—and bringing data insights, market expertise, and solutions to the table—Mastercard helps fintechs scale by unlocking new opportunities and driving smarter decisions for better outcomes. In today’s episode, Brett King connects with Jenique McNaught, Mastercard’s Senior Principal, Advisors & Consulting Services, UK & Ireland, and Revolut’s Fiona Davies – Head of Growth UK, Ireland & Nordics. Together, they discuss important market dynamics and the trends they see in the regions they cover. One big takeaway is how customers want to have a meaningful relationship with their financial services provider. Trust is more than just a cool factor, it is earned through a solid track record of picking the right partner and interacting with customers in their preferred manner. Everywhere, customers are embracing innovative fintech solutions that embrace convenience and meet their changing needs, with many consumers multi-banked. The trio then dive into Mastercard and Revolut’s exciting partnership and spotlight Revolut’s incredible growth story.Marking a major milestone -- 50M customers in less than 10 years—Revolut is celebrating and sharing its success with “Revolutionaries,” a one-of-a-kind two-day experiential event for Revolut customers, highlighting revolutionary figures who have challenged norms and pushed boundaries. Then, the latest on bitcoin...Bitcoin has seen a 42% increase in price in just the past month, lots of crypto is up. Listen as Brett King and Henri Arslanian, author, industry expert and speaker, share thoughts on the election impact on #bitcoin and #crypto markets. Hear about this and more in this engaging and dynamic episode! ******************************************************************Interested in learning more about how Mastercard Services can help you innovate? Explore https://go.mastercardservices.com/fintech For more about Revolut and the Revolutionaries:https://www.wired.com/sponsored/story/the-revolutionaries/ Read the entire transcript here. Podcast Content: Chapter 1: 00:00 - Welcome and Introduction Brett King introduces the episode, focusing on fintech innovation and Bitcoin's evolving role in financial markets. Chapter 2: 02:45 - Mastercard and Revolut: Driving Fintech Growth Exploration of Mastercard's partnership with Revolut, emphasizing their efforts in enabling fintech innovation and customer trust. Chapter 3: 12:30 - Revolut’s Journey to 50 Million Customers Fiona Davies shares Revolut's milestones, including the UK banking license and expansion into new markets. Chapter 4: 20:15 - The Trust Equation in Fintech Discussion on how fintechs like Revolut and Mastercard redefine trust in the digital financial ecosystem. Chapter 5: 30:45 - Bitcoin’s Market Surge and U.S. Crypto Policy Shift Analysis of Bitcoin's dramatic price increase and the implications of a new, crypto-friendly U.S. regulatory stance. Chapter 6: 38:00 - Crypto Market Trends with Henry Aslanian Henry Aslanian provides insights into the global crypto landscape, focusing on institutional adoption and M&A trends. Chapter 7: 45:30 - Future of Digital Money and Smart Contracts Speculations on the future of digital currencies, stablecoins, and AI's role in shaping autonomous financial marketplaces. [53:00] Closing Thoughts and Fintech’s Future Reflections on Revolut's impact, the role of partnerships like Mastercard, and the disruptive potential of fintech innovations. Related Content: Bank-Fintech Partnerships, Open Banking and AI...oh my! Shopify Finance: Fueling Merchant and Small Business Growth Episode 558: Fintech Visionaries Reimagining the Future of ...

In This Episode We kick off with a crossover segment featuring Fintech Takes host and fintech insider Alex Johnson, who joins Jason to break down major themes from Money20/20 2024. Together, they explore the hot topics shaping fintech right now: bank-fintech partnerships, Banking-as-a-Service (BaaS), open banking (1033), and the evolving role of AI. Alex shares highlights from his on-stage interview with CFPB Director Rohit Chopra, where they discussed the finalized 1033 rule, the ongoing legal pushback from big banks, third-party risk management, and new BaaS standards aimed at creating more balanced partnerships. The duo also dives into the rapid-fire world of AI. Is it all just hype, or are we approaching real innovation? With regulation on the rise, there’s a lot for the industry to figure out—standards, safeguards, and perhaps even a looming digital divide. Finally, Jason wraps things up with a lively chat with Mary Wisniewski, Editor-at-Large for Cornerstone Advisors. They discuss financial therapy, Mary’s perspective on the latest 1033 updates, and even squeeze in a bit of Texas Hill Country fun. Hit play and join us for a packed episode! Read the entire transcript here. Podcast Content: Chapter 1: 00:00 - Welcome and Overview of Money 2020 Brett King introduces the episode, discussing highlights from Money 2020, including insights into fintech trends and key partnerships. Chapter 2: 04:30 - Money 2020 Recap: Open Banking and 1033 Drama A reflection on the regulatory and industry conversations around open banking and the CFPB's finalized 1033 rule. Chapter 3: 12:15 - Bank-Fintech Partnerships: Collaboration and Challenges Insights into third-party risk management, standard-setting challenges, and the evolving dynamics of bank-fintech partnerships. Chapter 4: 20:45 - The AI Hype Cycle: Balancing Reality and Expectations Exploring the current state of AI in financial services, separating meaningful use cases from overhyped promises. Chapter 5: 29:00 - The Role of Regulators in Banking Innovation A deep dive into regulatory implications for open banking, AI, and fintech partnerships, featuring insights from Director Chopra of the CFPB. Chapter 6: 36:45 - The Digital Divide: Small vs. Large Banks Analyzing how smaller banks face challenges in adopting open banking and AI, and the competitive advantages of larger institutions. Chapter 7: 45:30 - Financial Therapy: Behavioral Insights and Spending Habits A discussion on the emerging field of financial therapy and its applications for understanding consumer behavior. Chapter 8: 52:00 - Platform vs. Point Solutions in AI Examining the pros and cons of platforms versus point solutions in banking, with examples from the Glia conference. Chapter 9: 59:30 - Looking Ahead: Open Banking as a Competitive Opportunity Final thoughts on how banks can leverage open banking proactively rather than just complying with regulations. Related Content: Shopify Finance: Fueling Merchant and Small Business Growth Banks and Fintechs: Tips for Partnership Episode 465: Balancing Friction and Fraud in the Global Economy Episode 517: Expectations vs. Reality: Latest Global Findings for Financial Services & Digital Identity Special Episode - Finovate: Financial Insights & Breaking Banks Anniversary Trailer https://youtu.be/ZPQWCMOHOWI

Vikram Anreddy, Head of Product, Financial Services at Shopify, shares insights on how Shopify Finance empowers merchants to manage their finances effectively. He discusses innovative tools like Shopify Capital for flexible loans and Shopify Balance for streamlined cash management. The conversation delves into the significance of integrating fintech solutions to modernize banking for small businesses, enhancing their ability to make strategic decisions on-the-go. Anreddy also touches on the rise of the creator economy and the evolving opportunities for merchandising.