Breaking Banks

Phil Goldfeder, CEO of the American FinTech Council, champions a customer-centric financial system, while Seema Gandhi, co-founder of CFES, focuses on developing sound standards for non-banks. They discuss the surge in bank-fintech collaborations and how these partnerships expand access to financial services. The conversation shifts to AI’s role in fraud detection, emphasizing the need for clear compliance standards and effective risk management to navigate the dynamic financial landscape.

In This Episode This week, we bring you Part III of exclusive insights from Fintech Xchange '25 at the Stena Center for Financial Technology and the University of Utah, powered by U.S. Bank. Host Jason Henrichs engages in a dynamic discussion with Jason Mikula of Fintech Business Weekly and Chris Black, CEO & President of Thread Bank. Their conversation spans topics from Banking-as-a-Service (BaaS) and regulatory shifts under the new administration to the dual-edged nature of innovation in today's financial landscape. Chris delves into Thread Bank's unique transformation as it evolved from the historic Civis Bank—established in 1906—into a fintech-enabled community bank. In 2021, new leadership recapitalized and revitalized the institution by adopting an industrial approach to BaaS and launching Thread. Thread's goal is to deliver the unparalleled value of a community bank to individuals and businesses, leveraging intuitive technology to meet customers where they are. Maintaining two local branches, Thread is delivering on its mission of embedded banking -- deposits, loans, and payments, and exemplifies the integration of traditional banking services with modern embedded banking solutions. By transcending geographical limitations and focusing on scalable, durable models, Thread collaborates with partners to manage risks and capitalize on the strengths of partnership banking. In the second segment, University of Utah alumnus Rhett Roberts, CEO & Co-founder of LoanPro, joins "the Jasons" to discuss the evolving fintech ecosystem and APIs. Are they coming of age? Naturally they talk about cores, and how banks are in the process of conscious decoupling to build resilient infrastructures in order to weather future disruptions. Rhett shares LoanPro's journey from inception to powering some of the biggest lenders in fintech. LoanPro offers a scalable, API-first lending and credit platform that fosters innovation by streamlining origination, servicing, collections, and payments across various loan types, lines of credit, and credit cards. This narrative underscores the transformative impact of fintech solutions in modernizing financial services. Listen and watch to explore these compelling stories! https://www.youtube.com/watch?v=8RC9Gt9PodA

In This Episode In this episode we continue the series powered by U.S. Bank and recorded at the University of Utah's Fintech Xchange. CAUTION: The episode is hot! Breaking Banks' Hot Takes host Jason Henrichs, regulars Alex Johnson (Fintech Takes) and Jason Mikula (Fintech Business Weekly) are joined by David Ness, U.S. Bank's SVP Innovation, R&D and Peter Renton, Fintech Nexus, Chairman & Co-Founder. The newcomers jump right in, going straight for Fintech on Fire (#11 on a scale of 1 - 10), and comfortably deliver hot takes from the hot seats, recapping major themes from the event, and making predictions as to what 2025 brings to our industry. Plenty of insights are shared and there's plenty for the risky spice-takers to tackle including BNPL (acronym for a popular industry term, of course, and also our new Burn Now Pay Later hot sauce). Two other clues as to what the group might have talked about....the RegTech Reaper and Stable Coin Scorch . Don't worry, there's plenty more where these came from! Listen now on your favorite podcast platform! It's a hot conversation, worth being in the room for...to catch the visuals check it out on YouTube (@provokefm and while you are there, hit subscribe)!

In This Episode This week we introduce you to a series profiling the digital banks and founders that are changing the world of banking. Focused on first hand accounts from founders all over the globe, the series chronicles the NeoBanking movement from the early days though to today, documenting the players building a new category of digital banking, reshaping the digital movement. Throughout our series we look at foundation stories, challenges each had, and the regulatory approach each took -- a look at the pioneering history of the neo and challenger bank movement. In this episode, Breaking Banks host Brett King connects with bunq's Founder & CEO. Ali Niknam. bunq is based in The Netherlands, a small country doing big things. bunq, bank of The Free, offers mobile banking that makes life easy for every new chapter in one's life, and for the digital nomad in everyone. Born out of Ali's interest in creating products that people like to use, bunq began in 2012 and its mobile app came out in 2015, all with the aim to help the world forward and do banking a little differently. bunq has brought lasting change to the European banking industry. Having built a product rooted in customer needs and wants, bunq quickly scaled to become the second largest neobank in the EU. Serving digital nomads across the European Economic Area, bunq makes life easy for location-independent people and businesses starting from the way they manage money: how they spend, save, budget and invest. On a mission to build the first global neobank for digital nomads, bunq announced its bid to enter the US market (April 2023) by applying for a banking license. It's an intriguing story, not to be missed! https://youtu.be/xflfJpM60NI?si=oKMhKcL13Q_eJM9s

This week on Breaking Banks, we take you inside fintechXchange, hosted by the Stena Center for Financial Technology at the University of Utah. As a proud media partner of the event, we explore how industry, academia, and policymakers are coming together to drive the future of financial services.Host Jason Henrichs sits down with Meghan Kober, VP of Fintech Partnerships & Investments at U.S. Bank, Taylor Randall, President of the University of Utah, and Ryan Christiansen, Executive Director of the Stena Center for Financial Technology. Together, they discuss the power of ecosystem building, highlighting the incredible human capital fueling innovation: VCs, startups, and institutions of all sizes collaborating to shape the next wave of fintech growth and banking transformation. Then, it’s time for the first Hot Takes of 2025, recorded live from 'Silicon Slopes'! Alex Johnson (Fintech Takes) and Jason Mikula (Fintech Business Weekly) are back in the hot seats with Jason Henrichs to break down the latest fintech headlines with sharp insights and no-holds-barred opinions. They dive into: The latest in open banking, the CFPB and regulation The fate of BaaS Island, Synapse, and Patriot Bank’s BSA & AML challenges What really is possible with bankruptcy proceedings and what does it mean for fintech’s future This episode is packed with insight, energy, and hard-hitting discussions you won’t want to miss! https://www.youtube.com/watch?v=tJ-bdJNLu60

In This Episode We are excited to introduce you to Provoke.fm's newest podcast....a-spinoff-of-a-spinoff of Breaking Banks. Bankers Bookshelf brings cutting edge banking and fintech research to life, sharing the stories and strategies behind financial innovation, bridging the gap between technology and finance -- a perfect fit for the Breaking Banks family! Host Paolo Sironi, global research leader in banking and financial markets at IBM Institute for Business Value, is a trailblazer in fintech himself. In this episode, Paolo connects with Ronit Ghose who runs the Future of Finance team in Citi's thought leadership unit "Citi Global Insights", and is the author of Future Money: Fintech, AI and Web 3. The world of money is rapidly changing, but what does it all really mean? The duo discuss insights from the book with Ronit bringing technical topics to vivid life via narrative deep dives into selected founders and their companies. From London to Lagos, via Ahmedabad, Dubai, Hong Kong, Karachi and more, this episode pulls together the story of how money is changing in the internet era. Subscribe to Bankers Bookshelf https://provoke.fm/show/the-bankers-bookshelf/ or listen via your preferred podcast platform now! https://www.youtube.com/watch?v=Yp1E9Fs3rco

In This Episode Getting digital right can be challenging for anyone --small banks, big banks, incumbents, challengers, you name it. In this episode, Brett King meets up with Akbank's Consumer Banking & Digital Solutions, EVP, Burcu Civelek Yuce to talk about Akbank and Akbank LAB, Akbank's Innovation Lab. The discussion focuses on the incumbent bank 's digital engagement and excellence in collaborating and partnering with fintechs and big tech. Turkey is the 18th largest country in the world in terms of population size, with Akbank one of the largest banks (77 years young) in Turkey. Akbank has nimbly undergone a smoothe digital transformation with the majority of its customers now coming through digital channels -- be it new customer acquisition, servicing or sales. Akbank LAB is the innovation center that coordinates Akbank’s pioneering fintech developments. Here, they study best working models and implement solutions to make the lives of Akbank's customers easier. Fintech partnership and collaboration are key components of Akbank LAB's success, with partners working hard to create value for their customers. Akbank is embracing AI with Banking IQ, hyper personalized information on customers, and is actively reskilling employees to lead the way forward. Listen to this engaging conversation to learn best practices relevant for all banks and financial institutions. For further information: akbanklab.com or akbanklab@akbanklab.com Read the entire transcript here. Related Content: Chapter 1: Introduction – The Evolution of Incumbent Banks (00:00) An introduction to the discussion on digital transformation in traditional banks. The host shares insights from a recent visit to Istanbul and the rapid changes observed in the Turkish banking sector. Chapter 2: Akbank’s Digital Transformation and Growth (05:15) EVP Bircu Sivilek shares key data on how Akbank has embraced digitalization, with significant growth in digital customer acquisition and engagement. The discussion covers the bank’s transformation into a digitally-led institution. Chapter 3: Fintech Collaboration and Open Innovation (12:40) How Akbank fosters partnerships with fintechs and big techs through Akbank Lab. The conversation explores how the bank accelerates innovation through strategic collaborations. Chapter 4: AI-Driven Personalization in Banking (19:20) A discussion on the role of artificial intelligence in banking, including how Akbank uses AI for hyper-personalized financial insights, enhancing the customer experience. Chapter 5: Supporting SMEs with Fintech Innovations (26:30) An exploration of how Akbank integrates fintech solutions to help small and medium enterprises (SMEs) manage their financial operations, including a successful partnership with a Spanish fintech. Chapter 6: The Agile Approach to Product Development (32:45) Comparing Akbank’s development process to digital-first banks like Nubank and Revolut. Insights into how Akbank has reduced time-to-market for new banking products. Chapter 7: Modernizing Banking Infrastructure for Agility (39:10) A deep dive into how Akbank rebuilt its technology stack from the ground up to support seamless fintech integrations and AI-powered banking services. Chapter 8: The Future of Banking – AI, Generative Tech, and Digital Strategy (45:50) How Akbank is positioning itself as a leader in AI-driven banking, with a focus on generative AI, customer experience, and further digital transformation in the next three to five years. Chapter 9: The Transformation of Branch Banking (52:30) How Akbank’s digital push has reshaped the role of physical branches, transitioning to a cash-light model with a stronger focus on customer advisory services. Chapter 10: The Global Perspective and Final Thoughts (58:10) Final reflections on Akbank’s innovation journey and how fintech partnerships will continue to shape the bank’s future.

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.