Breaking Banks

In This Episode What's your legacy? Host Brett King connects with the 695th Lord Mayor of London, Michael Mainelli, who is the first American born Lord Mayor of London. A scientist, economist and accountant, as well as a self-proclaimed space junkie who studied aerospace at Harvard (fun fact his father was at one time involved with the Apollo capsule for Boeing), the Lord Mayor shares some of the key initiatives that will keep him busy during his mayoralty -- climate change, space debris removal, a smart economy networks project, and most importantly that London is a partner when it comes to solving global problems, it is a solutions center for technology, science, engineering and finance. Then, a new podcast Beyond Banking by CBD Talks! from the Commercial Bank of Dubai. Beyond Banking by CBD Talks! delves into trends that drive the UAE, middle east, and global economies. In the first episodes host Brett King has welcomed phenomenal guests, and covered topics from climate and sustainability to unicorns and the future of money and banking, while spotlighting leaders shaping financial services and the UAE, Frank Bisignano, CEO, Fiserv and Her Excellency Raja Al Mazrouei. Learn about the UAE and other regions by downloading Beyond Banking by CBD Talks! via Amazon, Apple, or Spotify. From digitization to decarbonization, through the evolution of AI, and the advent of smart economies, listen as we foster conversations Beyond Banking, with an eye towards the future. https://podcasts.apple.com/us/podcast/beyond-banking-by-cbd-talks/id1711240163 Read the entire transcript here. Podcast Content: Chapter 1: [00:00] Welcome and Introduction Brett King and Jason Henricks open the show, highlighting the Breaking Banks tradition of exploring innovation and introducing their guest, Michael Mainelli, the 695th Lord Mayor of London. Chapter 2: [05:30] The Role of the Lord Mayor Michael Mainelli reflects on his journey to becoming Lord Mayor, the responsibilities of the position, and the legacy of this historic role. Chapter 3: [12:00] Space: A Personal and Global Perspective Michael shares insights on his background in aerospace, his father’s work on Apollo, and how space exploration connects with global sustainability goals. Chapter 4: [20:00] AI, Ethics, and Smart Economies A deep dive into the role of AI in building smart economies, the ethical considerations, and the intersection of finance, technology, and global problem-solving. Chapter 5: [30:45] Climate Change and Financial Solutions The discussion shifts to climate finance, carbon markets, and how London plays a role in creating sustainable solutions to the global climate crisis. Chapter 6: [40:00] Space Junk and Sustainability in Orbit Michael introduces innovative approaches to solving the growing issue of space debris, including insurance bonds and technologies for debris removal. Chapter 7: [50:00] London as a Hub for Global Collaboration Exploring London’s reputation as a center for finance, science, and technology, and its potential to foster international collaboration on pressing global challenges. Chapter 8: [01:00:00] Looking Ahead: Challenges and Opportunities Michael outlines his vision for London’s future and the broader role of highly autonomous economies, post-scarcity economics, and evolving societal values. Chapter 9: [01:10:30] Beyond Banking and Closing Remarks The hosts reflect on the episode, preview the "Beyond Banking" podcast series, and share how listeners can engage with Breaking Banks and Michael Mainelli. Related Content: Episode 492: London Bridges & VC Now Episode 430: London Calling & Razzle-Con FinTech Opening Investment Space Investment in an Age Where Climate is Disrupting the Planet Episode 526: Investment in an Age Where Climate is Disrupting the Planet https://youtu.be/G_jql0YSqE4

In This Episode In this next episode of our special series, Killing It!, hosts Jason Henrichs and Alex Johnson sit down with Matt Harris, current coach, consultant, advisor and Bloom Credit (credit data solutions) co-founder. Starting a company is hard, at any age, Matt was 22 when he began his journey. It's not just having an idea for your startup, financial backing, energy and good people around you, as most know, it's all the hurdles and discoveries of everything you need to fix and do, that affects your idea, along the way. The journey, and roller coaster, comes with lots of stressors and takes its toll. It can be difficult to step away or step aside. How do you process? How do you separate your identity from the company after investing so much of yourself in it. The founding journey is hard but doesn't have to be.  Accept what is. 'Failure' (whatever that may mean, and it's different for everyone) is not the end of the story. This candid discussion is a master class for startup founders; coaching founders, rather than just investing in their businesses, has become an impactful and authentic way for Matt to make even more change in the world. Read the entire transcript here. Podcast Content: Chapter 1: [00:00] Welcome and Introduction Brett King introduces the theme of the episode, featuring Matt Harris of Bloom Credit, discussing the entrepreneurial journey and mental health. Chapter 2: [05:00] The Origins of Bloom Credit Matt Harris shares how Bloom Credit started, its mission to tackle credit report inaccuracies, and the challenges of building a fintech infrastructure company. Chapter 3: [15:30] The Emotional Toll of Startup Life A deep dive into the psychological and physical impact of entrepreneurship, as Matt reveals his diagnosis of complex PTSD and its root causes. Chapter 4: [25:45] Decoupling Identity from Work Matt discusses the struggle of separating personal identity from his role as a founder, and the difficult decision to step away from Bloom Credit. Chapter 5: [35:20] The Transition Year Matt describes the year-long process of transitioning out of his CEO role, finding a new leader for Bloom Credit, and preparing for life beyond the startup. Chapter 6: [45:00] Healing and Rebuilding Insights into Matt’s recovery process, including movement therapy, breathing exercises, and the importance of restoring a sense of safety to his nervous system. Chapter 7: [55:10] Coaching Founders: A New Path Matt explains his transition to coaching, addressing mental health and productivity challenges for founders while helping them build sustainable practices. Chapter 8: [01:05:30] Addressing Hustle Culture A critique of grind culture, with Matt presenting evidence-backed strategies for improving productivity by working smarter, not harder. Chapter 9: [01:15:00] The Importance of Acceptance Matt reflects on the power of acceptance in overcoming failure and navigating the ups and downs of entrepreneurial life. Chapter 10: [01:25:00] Closing Thoughts The hosts wrap up with key takeaways from Matt’s journey and advice for founders facing similar struggles, emphasizing resilience and self-awareness. Related Content: SPECIAL EPISODE: Asia's Pandemic Response FinTech Startup wisdom and #EX Episode 451: AWS Bets Big on Black and Women Founders & Harmonizing Taxes Episode 92: Breaking Impact: Migrant-Led Financial Services Episode 555: Killing It... Again. With Bill Harris https://youtu.be/4_FzT8ff0Ms

In This Episode This week host Jason Henrichs hears about all that he unfortunately missed at Bank Director's annual AOBA (Acquire Or Be Acquired) conference for bank senior leadership from Bank Director rock stars and conference session and track leaders, Emily McCormick, VP of Editorial & Research and Kiah Haslett, Banking & Fintech Editor. They cover it all from banking sector challenges, innovations, and market outlook to enthusiasm for balance sheets (yes!), deposits, and necessity of tech adoption for growth and the future. Read the entire transcript here. Podcast Content: Chapter 1: [00:00] Welcome and Overview The hosts introduce the episode, highlighting its focus on the Acquire or Be Acquired (AOBA) conference and trends shaping the banking industry. Chapter 2: [05:15] Vibes from AOBA 2024 Discussion with Emily McCormick and Kia Haslett about the optimistic yet cautious atmosphere at the conference and key insights from industry leaders. Chapter 3: [15:30] The Quest for Deposits An exploration of the challenges banks face in attracting and retaining deposits, including the evolving importance of balance sheet strategies. Chapter 4: [25:50] Technology Adoption as Mandatory How digital transformation has shifted from optional to essential for banks, with practical strategies for prioritizing tech investments. Chapter 5: [35:40] Talent and Leadership in Banking The ongoing challenges of succession planning, talent retention, and the skillsets needed for leadership in a tech-driven banking environment. Chapter 6: [45:15] The State of Bank M&A Insights into why M&A activity has slowed, including the impact of balance sheet considerations, unrealized losses, and pricing challenges. Chapter 7: [55:00] The Role of AI in Banking’s Future How artificial intelligence is addressing efficiency and operational challenges, and its practical applications for modern banks. Chapter 8: [01:05:30] Closing Reflections on AOBA 2024 The hosts reflect on the conference's themes, including the necessity of proactive decision-making and the importance of aligning leadership with industry trends. Related Content: Episode 476: Bank Mergers in the Garden of Good and Evil Episode 496: Leaders and Leadership Innovations in Lending at LendIt2017 FinTech: XFinance and Self-Driving Cars Payments Conference 2014! https://www.youtube.com/watch?v=lBBVrehJ3Yg

Exploring the journey of a fintech pioneer from Simple to Sila, reflecting on tough decisions. Discussing a new partnership in the mortgage space to empower underserved demographics with bias-free lending. Embracing tech for good through innovative solutions and forming a two-sided marketplace for lenders and borrowers.

In This Episode Drumroll...it's a new series from Breaking Banks, Killing It, candid discussions with entrepreneurs sharing lessons, failures, successes and some of the tough decisions they had to make. From VCs to unicorns, it's a high stakes game with high rates of failure. Not everything goes up and to the right, and success looks different for everyone -- you can grind away and do all you are supposed to do, and get to the point that you have to deliver terrible news to your cofounder and employees who believed in you. There are lots of stories from awesome people who have been knocked to the mat multiple times and gotten back up. It's not uncommon, but how do you bounce back and what does it take to walk away from it. Listen as hosts Jason Henrichs and Alex Johnson bring these stories to life. Then, investing in the next frontier, we turn to Greg Palmer, host of sister podcast Finovate as he speaks with Tamara Steffens, Managing Director, Thomson Reuters Ventures, about her perspectives on what’s on tap for fintech and the funding ecosystem this year. Enjoy the show! Read the entire transcript here. Podcast Content: Chapter 1: [00:00] Welcome and New Series Introduction The hosts introduce the "Killing It" series, focused on candid entrepreneurial stories, and preview insights into fintech investments with Tamara Stephens. Chapter 2: [05:15] Killing It: Lessons in Resilience A conversation with Alex Johnson about the emotional challenges of failure in entrepreneurship and the journey of rediscovering identity and purpose. Chapter 3: [20:30] The Weight of Responsibility in Startups Exploring the unique pressures founders face, including decision-making, downsizing, and the emotional toll of living with those choices. Chapter 3: [35:00] The Value of Relationships in Entrepreneurship A deep dive into how trust and relationships can influence future ventures, even after a business fails or pivots. Chapter 4: [50:15] Investing in Fintech: A Venture Capitalist’s Perspective Tamara Stephens of Thomson Reuters Ventures discusses trends, the importance of product-market fit, and the state of fintech funding in 2024. Chapter 5: [01:05:30] The Rise of AI and Bootstrapping in Fintech Tamara highlights the impact of artificial intelligence in tax and compliance and the renewed focus on bootstrapped startups amid funding challenges. Chapter 6: [01:20:00] Predictions and Opportunities for Fintech in 2024 A look at the future of fintech, focusing on resilience, profitability, and emerging areas like cross-border payments and AI-driven compliance tools. Chapter 7: [01:30:00] Closing Thoughts Reflections on entrepreneurship, the challenges of fintech innovation, and the need to balance ambition with realistic, sustainable growth strategies. Related Content: Episode 533: Killing It!  Acceptance As The Fastest Path Forward Episode 548: Killing It: And then Paying It Forward Killing It Painless Frictionless Investing Episode 439: Journeys: A Large Bank's Innovation Journey & VC with Cowboy Ventures https://youtu.be/2mcKIL3PNnE

In This Episode Does BaaS go boom, and other predictions and projections for the year. Listen as host Jason Henrichs connects with hot takers Alex Johnson, Fintech Expert & Workweek Creator and Jason Mikula, Managing Director, Fintech Business Weekly about what they've been seeing and what they hope to see in our industry. For those that like analysis they jump into the current state of BaaS, theories on implications for the rest of the year not to mention any projections they think they might need a mulligan for and which are proving true! Read the entire transcript here. Podcast Content: Chapter 1: [00:00] Welcome and Overview The hosts introduce the topic of Banking-as-a-Service (BaaS) and the question of whether 2024 will be a pivotal year for its evolution. Chapter 2: [05:30] Predictions and Mulligans Jason and Alex revisit their 2024 predictions, discussing early developments in BaaS and debating which forecasts might already need revising. Chapter 3: [15:45] BaaS: A Subsidy for Banks? The panel examines how venture capital has underpinned BaaS models, questioning its long-term sustainability and the role of banks in this ecosystem. Chapter 4: [30:00] The Regulation Dilemma Regulatory hurdles and network effects within BaaS are dissected, emphasizing the challenges banks face in balancing compliance with scalability. Chapter 5: [45:15] Redefining the Customer Relationship Exploring the misalignment between middleware platforms, fintechs, and banks, the discussion centers on rethinking BaaS economic models. Chapter 6: [01:00:00] Economics of BaaS in 2024 The conversation shifts to the financial realities of BaaS providers, unprofitable fintechs, and the broader fintech funding environment. Chapter 7: [01:15:00] IPOs, M&A, and What Comes Next Analyzing potential exit strategies for fintech companies, including IPOs and M&A, with reflections on past trends and 2024 expectations. Chapter 8: [01:30:00] Future of BaaS and Fintech Innovation Closing thoughts on how innovation, regulation, and business realities will shape the future of BaaS and fintech partnerships in 2024. Related Content: Episode 464: Second Wave BaaS & “Deep Tech” Episode 562: Hot Takes: Regulatory Headwinds for BaaS Episode 547: The BaaS Bombs Drop + Synapse Bankruptcy Episode 530: Killing It & Investing in the Next Frontier Episode 533: Killing It!  Acceptance As The Fastest Path Forward https://www.youtube.com/watch?v=PoYKt1b0Zo0

In This Episode This week on Breaking Banks, Money in the 21st Century, a special episode from sister podcast Breaking Banks Asia Pacific. Listen as Breaking Banks Asia Pacific host Charis Palmer sits down with economist and professor of economics Richard Holden to chat about his new book: Money in the 21st Century and why he believes that the US Fed needs to get going with a 'Fedcoin'. They also cover the global economics of #crypto #cbdcs #mobilemoney and #cheapmoney, and how we’ll all transact in our future cashless world. Enjoy the episode! Read the entire transcript here. Podcast Content: Chapter 1: [00:00] Welcome to Breaking Banks The hosts introduce economist Richard Holden and his new book, Money in the 21st Century, exploring the future of money and payments. Chapter 2: [05:30] Three Key Trends in Global Money Richard discusses how low interest rates, mobile money, and cryptocurrencies are reshaping how we transact globally. Chapter 3: [15:15] The Case for a Fed Coin Richard makes a compelling argument for the U.S. to create a digital currency, emphasizing its necessity in a race against China and private digital currencies. Chapter 4: [25:45] The Phasing Out of Cash Examining the inevitability of a cashless future, Richard outlines a phased approach for governments to reduce reliance on physical currency. Chapter 5: [35:30] CBDCs and Financial Inclusion A discussion on how central bank digital currencies can address issues of financial inclusion, particularly for the unbanked in developing economies. Chapter 6: [45:15] Private vs. Public Currencies Exploring the tension between decentralized cryptocurrencies and government-controlled CBDCs, with insights into their potential coexistence. Chapter 7: [55:45] China's Digital Currency Strategy Richard evaluates China's rapid progress in developing the ECNY and its implications for global monetary dominance. Chapter 8: [01:05:30] Global Financial Blocks and Collaboration A look at the role of regional financial blocks like Enbridge in shaping international money transfers and blockchain-based systems. Chapter 9: [01:15:00] Future Roles of IMF and World Bank Closing thoughts on how international institutions might adapt to a world dominated by central bank digital currencies. Related Content: Dr. Richard Besser: A Prescription for Equity in Health Episode 247: The Bankers' Bookshelf - Going Cashless with Digital Currencies Episode 21: What does 2024 hold for fintech in China?  Crazy Cryptocurrency and Watson fixes Regtech Episode 216: Disruption Stories - The Challenges of Integrating Cryptocurrency into Traditional Financial Systems https://youtu.be/q0uNPddxiDo

In This Episode Excitement over new technologies, new capabilities, new business models, and new companies often turns to hype, but what goes up, must come down. We seem to be working through hype cycles faster and faster, but what’s on the other side is rarely a return to the status quo. In this episode, Simon Taylor,  Fintech Brainfood, Jim Marous, The Financial Brand and Theo Lau, Unconventional Ventures join hosts Brett King and JP Nicols to share insights and debate what upward and downward forces will most impact fintech and banking in the next 12 months, and what that new reality looks like. Read the entire transcript here. Podcast Content: Chapter 1: [00:00] Welcome and Introduction Brett King and Jason Henricks introduce the episode, set the stage for the 2024 outlook discussion, and highlight the themes of hype cycles and industry realities. Chapter 2: [03:15] Hype Cycles and Disruption J.P. Nichols discusses the acceleration of hype cycles in fintech, the trough of disillusionment, and how technologies like AI are impacting the space. Chapter 3: [10:45] Traditional Banking's Challenges Jim Maroos explores the pressures on traditional banks, deposit flight, and the stark differences in how fintech challengers like Monzo and Nubank are gaining ground globally. Chapter 4: [20:10] Emerging Markets vs. Developed Markets The panel compares fintech growth in emerging markets like Brazil with developed markets, highlighting the unique opportunities and obstacles each faces. Chapter 5: [32:30] AI's Dual-Edged Sword Theo Lau and others delve into the risks and opportunities of AI in financial services, from fraud mitigation to ethical dilemmas like deepfake scams. Chapter 6: [45:20] Generative AI and Regulation Brett King and Simon Taylor discuss the slow progress in generative AI applications for banking, legal challenges, and regulatory frameworks worldwide. Chapter 7: [55:00] Venture Capital and Fintech Evolution The conversation shifts to the fintech funding landscape, the implications of down rounds, and how AI integration presents new opportunities for startups. Chapter 8: [01:07:15] The Wallet as a Super Tool Brett King outlines the rise of the "super wallet," integrating identity, health, and financial data, and its transformative potential for consumer behavior. Chapter 9: [01:20:30] The Future of Personalization in Fintech The panel explores how AI is driving hyper-personalization, reshaping customer experiences, and embedding financial services into everyday life. Chapter 10: [01:30:00] Closing Thoughts and Predictions The hosts summarize key takeaways, speculate on potential black swans in fintech, and discuss how regulation and geopolitics may shape the future. Related Content: Bank-Fintech Partnerships, Open Banking and AI...oh my! Episode 517: Expectations vs. Reality: Latest Global Findings for Financial Services & Digital Identity Episode 109: Breaking Impact - Building Regulation Friendly FinTech in Emerging Markets Episode 534: Space, AI, Climate and Beyond Banking Episode 549: Bringing You The Best https://youtu.be/V-7Mo6x9rpE

In This Episode 2023 was the hottest year on record in terms of temperature. ESG, sustainability, clean tech / green tech and corporate responsibility have been hot topics. Are we at war with climate? This week we feature Brett King's recent sit down in Bangkok, Thailand with former banker, fintech investor and now venture capitalist, Paul Ark, with The Radical Fund, an early-stage VC fund investing in founders who are delivering climate resilience for Southeast Asia. Where are investment dollars going? Climate mitigation (how to prevent the world from getting warmer) and climate adaptation (dealing with a warmer world) and what it means for infrastructure resilience and food insecurity, to name some areas of concern, are top of mind. Climate is a complex systemic issue and requires a buffet of technologies to address, improve and help us reclaim our environment. It's an enlightening conversation with The Futurists! Read the entire transcript here. Podcast Content: Chapter 1: [00:00] Welcome and Setting the Stage Brett King introduces the episode and shares the significance of discussing climate disruption and sustainable investment strategies. Chapter 2: [03:00] A Journey Through Asia and Venture Capital Brett and guest Paul Ark discuss his background in Asia, his work at Apple, and his transition to venture capital with a focus on sustainability. Chapter 3: [15:45] Southeast Asia's Economic Growth and Stability Paul reflects on Southeast Asia's delayed economic growth trajectory and its current potential for sustainable development investments. Chapter 4: [28:20] Forecasting the Future: From Apple Retail to Clean Tech A look at how Paul's experiences in Apple retail informed his methodology for evaluating long-term opportunities in climate and green tech ventures. Chapter 5: [40:15] Mitigation vs. Adaptation in Climate Investment Paul explains the global focus on climate mitigation, the underinvestment in adaptation, and the need for more balanced funding strategies. Chapter 6: [55:30] The "Pearl Harbor Moment" for Climate Action The hosts debate what will trigger a global mobilization for climate efforts, comparing climate change's urgency to wartime efforts. Chapter 7: [01:10:00] Climate Tech and the Future of Humanity Exploring potential technologies like geoengineering, regenerative agriculture, and circular economies to counteract climate challenges. Chapter 8: [01:25:00] Radical Solutions for a Sustainable Future Paul shares insights into his Radical Fund's mission to promote inclusive climate solutions, particularly integrating gender perspectives. Chapter 9: [01:40:30] Optimism Amidst Challenges Closing with hope, Brett and Paul discuss how technological innovation and collective action can pave the way for a brighter future. Chapter 10: [01:55:00] Outro and How to Stay Connected Brett wraps up the episode with information on how listeners can follow Paul Ark and learn more about the Radical Fund. Related Content: Episode 195 - ConQuest - Educating The Scammer Investment in an Age Where Climate is Disrupting the Planet A Digital Banking Revolution in SEA: GXBank and Mastercard Episode 505: Women in Fintech: Leaning in on The Metaverse & Climate Change Kate Hammer: What Role Should Banks Play in the Climate Crisis? https://youtu.be/o2C0X1E8oEw

In This Episode Should you increase your social media savviness to sell products? With digital acquisition reshaping financial services it's certainly something to think about for your organization's benefit. In this episode, host Brett King speaks with Dr. Robin Kiera, Founder and CEO, Digitalscouting about his book, Attention Hacking: The Power of Social Media Selling in Insurance and Finance. Listen as Dr. Kiera delves into the topic and shares industry examples, opportunities and his belief that you need to position yourself and your organization as influencers among your target market. The premise is simple, you need to be where your customer is. Read the entire transcript here. Podcast Content: Chapter 1: [00:00] Welcome and Introduction Brett King introduces the episode and welcomes Robin Kira, author of Attention Hacking, to discuss the role of social media in finance and insurance. Chapter 2: [05:30] The Decline of Bank Branches Brett and Robin explore how the shift to digital banking is reshaping the financial industry and the implications for branch-based models. Chapter 3: [15:45] Why Insurance Lags in Digital Adoption Robin highlights the challenges of digital transformation in insurance, including regulatory hurdles, product complexity, and consumer reluctance. Chapter 4: [28:20] Social Media's Role in Financial Services A discussion on how financial institutions struggle with social media, why some succeed, and the importance of cultural adaptation in the digital age. Chapter 5: [40:15] Strategies for Social Media Success Robin shares key insights and actionable tips from his book on how companies can effectively leverage social media to connect with customers. Chapter 6: [55:00] The Power of Short-Form Video The conversation shifts to the dominance of short-form video platforms like TikTok and best practices for creating impactful content. Chapter 7: [01:10:00] Ethical Considerations in Social Media Marketing Brett and Robin address the ethical dilemmas of aggressive marketing tactics, transparency, and the importance of playing the long game in building trust. Chapter 7: [01:25:30] Future of Corporate Responsibility The duo speculates on how social and environmental responsibility will become critical for businesses in a rapidly changing world. Chapter 8: [01:35:00] Closing Thoughts and Resources Brett wraps up the episode with information on Robin's book, Attention Hacking, and how listeners can connect with Robin for more insights. Related Content: Ethical Futures and the Noosphere Fintech -Earning Consumer's Attentions Social Means Global Hack to Better Security Making Financial Engagement Social: Frank Eliason https://www.youtube.com/watch?v=1uGvauRU2s4