Fintech Takes

Thanksgiving’s over and Christmas is almost here… so you know what that means! We’re checking our credit account once, checking it twice, and we’re gonna find out if Alex can stand to talk about credit building nice.In this week’s fintech recap, our favorite breaker of fintech news, Jason Mikula, is back in the studio to break down the important topics in fintech, like whether green bean casserole is gross (it is) and if the entirety of the Twitterverse really needs to weigh in on the Sam Altman situation.Then, Jason and Alex dive into the recent handful of consumer-facing fintechs, like HMBradley, Mint, and Ness, who have shut down or pivoted to infrastructure plays. Is the worst behind, or is there more pain ahead? And later, credit building can be a predatory business area. So what’s the deal with the credit-building app Tomo Boost? Is it a legitimate ploy or an intentional attempt to defraud credit bureaus? Plus, the guys dissect Plaid’s recent foray into becoming a consumer reporting agency, the sexual harassment scandal at the FDIC, and the wild NFT party in Hong Kong that we wish we could say shocked us. 00:00:02 - Twitter Erupts Over OpenAI Situation00:03:09 - Green Bean Casserole: The Worst? Or the Worst?00:06:43 - Consumer Facing Fintechs: What's Next?00:14:45 - Partner Banks Pulling Back from Fintech Partnerships00:24:49 - Exploring the Emerging Landscape of Credit Building in Fintech00:32:09 - Making Sense of Tomo Boost00:41:57 - Proposed Lowering of Debit Card Swipe Fees for Covered Institutions00:46:45 - Plaid Transforms into Consumer Reporting Agency00:52:26 - Sexual Harassment Scandal at the FDIC00:55:02 - The Dark Side of NFTs Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don’t forget to check out my YouTube page. Follow Jason:Newsletter: https://fintechbusinessweekly.substack.com/LinkedIn: https://www.linkedin.com/in/jasonmikula/ Follow Alex: YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videosLinkedIn: https://www.linkedin.com/in/alexhjohnsonTwitter: https://www.twitter.com/AlexH_Johnson

With the smell of turkey, thanks, and pumpkin spice filling the air, what better way to celebrate the holiday season than having a candid sit-down conversation with the one man responsible for sparking Alex’s journey to fintech fanaticism? That’s right—meet doting dad and OG fintech obsessive himself, Tom Johnson. A fintech maestro with 30 years of industry prowess, Tom's wisdom, acquired through decades of navigating the fintech landscape, is nothing short of gold. He and Alex have a candid conversation about the biggest fintech lessons they’ve learned throughout their tenured careers, including the challenges and opportunities in building fintech infrastructure, the importance of listening to customer pain points, and why building best-of-breed solutions with a long-term strategy in mind is the key to surviving in a rapidly evolving fintech market. Plus, find out why that one banker looking to carve out his career might just be your ticket to fintech glory.  00:01:34 - 30 Years of Fintech Experience00:04:14 - You’re Just Gonna Have to Trust Me00:06:36 - Building Configurable Fintech Infrastructure Services00:14:48 - Selling to Fintech vs. Banks00:23:59 - Listen to Your Customers00:31:43 - The Evolution of Infrastructure Orchestration00:40:44 - When to Start Playing Three-Dimensional Chess in Business00:43:48 - Transitioning to an Orchestration Role00:46:08 - Breaking Down Fintech Silos Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don’t forget to check out my YouTube page. Follow Tom: LinkedIn: https://www.linkedin.com/in/tomjohnsonzoot/ Follow Alex: YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videosLinkedIn: https://www.linkedin.com/in/alexhjohnsonTwitter: https://www.twitter.com/AlexH_Johnson 

Sure Clippy may have died over a decade ago (RIP, little buddy), but some things in Microsoft Office just can’t seem to be killed off, no matter how hard fintech tries (*cough* Excel *cough*). Are spreadsheets simply too sticky to die? And who’s the new fintech company trying to make them marketable again? It’s time for another round of “Not Fintech Investment Advice,” and Alex is joined by the man, the myth, the legend himself, Simon Taylor. This week, they’re breaking down Aleph’s bold plan to revitalize spreadsheets. With major companies like Notion and Zapier adopting Aleph, they must be on to something… right? Then, Alex and Simon dissect the app that’s helping musicians and artists bring predictability to their cash flow using biweekly payment options. With the rise of fractured income streams and the growing creator economy, can we expect fintech to find a product wedge here?Plus, stay tuned to hear Alex and Simon’s hot takes on Cloverly’s climate tech solution, Hypercard’s employer-sponsored credit card gambit, and their predictions for how the open banking tech stack will shape up in the coming years.  Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don’t forget to check out my YouTube page.00:06:16 - The Future of Spreadsheets: Aleph00:13:28 - HiFi Cracks Open the Data for Musicians' Royalty Streams00:24:44 - Cloverly’s Climate Financing Solutions00:32:34 - Hypercard’s Consumer Credit Card Powered by Employers00:42:21 - Manifesting Fintech Ideas: The Evolution of Open BankingFollow Simon:LinkedIn: https://www.linkedin.com/in/sytaylor/Substack: https://www.linkedin.com/in/sytaylor/

The podcast discusses the proposed lowering of the debit interchange cap, open banking and its impact, the persistence of check payments and its vulnerability to fraud, valuation challenges of banks and fintech companies, amusing coin-related stories, and the disappearance of coin counting machines and its inconvenience for customers.

Live from Money 20/20 in Las Vegas, Alex is joined by co-host Jason Mikula for a special episode of Fintech Recap. They discuss the latest trends and developments in the fintech industry, including compliance and regulation, generative AI, and the impact of government regulations on banking and fintech.  They also share their impressions of the event and highlight key takeaways from Money 20/20. What does the future of AI look like for Fintech? Where is all the crypto? And what did Alex learn from hosting the cannabis banking summit?  Plus, will BaaS ever not be a headache for regulators?  Tune in to get a behind-the-scenes look at one of the biggest fintech conferences of the year! 00:00:00 - Live Recap of Money 20/20 in Las Vegas00:00:43 - The Rise of Crypto at Money 20/2000:01:34 - Hot Buzzwords at Money 20/20: Compliance, Regulation, and Generative AI00:03:05 - Navigating the AI Hype Cycle00:08:10 - Insights from the Cannabis Banking Summit00:10:22 - The Influence of Washington on Fintech00:13:17 - Regulators Face Challenges in Banking00:15:55 - The Rising Cost of Compliance in Banking as a Service00:18:48 - Fintech Companies Wary of Open Banking Rules00:23:28 - Recapping the Fintech Craziness at Money 20/20  Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don’t forget to check out my YouTube page.Follow Jason:Newsletter: https://fintechbusinessweekly.substack.com/LinkedIn: https://www.linkedin.com/in/jasonmikula/ Follow Alex: YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videosLinkedIn: https://www.linkedin.com/in/alexhjohnsonTwitter: https://www.twitter.com/AlexH_Johnson 

This week, Alex chats with Scott Sanborn, the CEO of Lending Club, to discuss the ever-evolving relationship between banks and consumers.Why are over half of Americans still paying off credit card debt? Does higher income lead to lower debt? With so many Americans living paycheck to paycheck, and with inflation outpacing wage growth for higher earners, Scott paints a concerning picture of the rapidly changing picture of the post-pandemic financial landscape—is there a way that fintech can solve these problems? Scott and Alex discuss why loyalty, great pricing, and customer service are inversely correlated at most banks and how a more customer-centric approach is becoming necessary in today’s increasingly competitive market. 00:00:43 - Lending Club: Revolutionizing Financial Services00:09:14 - Unlocking Opportunities for High-Income, High-Debt Consumers00:12:19 - The Impact of Rising Interest Rates on Savings Accounts00:15:26 - Disrupting the Banking System: Fair Rates for All00:24:53 - Lowering Customer Acquisition Costs for Lending Club00:29:38 - The Power of Data-Driven Banking00:31:20 - Building a Winning Bank Experience00:35:36 - The Benefits and Risks of Open Banking00:41:40 - Exploring the Potential of Generative AI Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don’t forget to check out my YouTube page. Learn More About Lending Club:Website: https://www.lendingclub.com Follow Scott:LinkedIn: https://www.linkedin.com/in/scottsanborn/ Follow Alex: YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videosLinkedIn: https://www.linkedin.com/in/alexhjohnson  Twitter: https://www.twitter.com/AlexH_Johnson    

It’s time for another episode of “Not Fintech Advice” with the inestimable, Simon Taylor! Or errr…. Whatever, that word actually means. Alex and Simon break down the latest in fintech news starting with Galleon, an off-market real estate platform that allows sellers to scope out the market and exert a greater degree of control over their pricing. Is this simply a byproduct of the state of the real estate market, or will Galleon have actual staying power? Then, get ready to dive into the gamified world of savings with Layup as Simon and Alex discuss how the app is using behavioral psychology to incentivize saving. Can it compete with the sports betting industry? Should it even want to exist in such a high-risk space? Plus, the guys get into how Moment is allowing fintech companies to offer credit similarly to stocks, before diving into the deets of Series' plans to compete with major ERP companies like Oracle and NetSuite. Is it worth it to even try? And don’t miss out on why Alex and Simon want to hear a little less talk about language learning AI models, and see a lot more action when it comes to machine learning technology!   2:12 Galleon12:10 Layup’s Prize-Linked Savings Account29:00 Moment38:50 Series’ ERP Ambitions46:49 Manifesting Fintech Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don’t forget to check out my YouTube page. Follow Simon:LinkedIn: https://www.linkedin.com/in/sytaylor/Substack: https://www.linkedin.com/in/sytaylor/ Follow Alex: YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videosLinkedIn: linkedin.com/in/alexhjohnsonTwitter: twitter.com/AlexH_JohnsonAll rights reserved. Crowe LLP, a member of Crowe Global, a Swiss verein. For more information, please visit www.crowe.com/fintech

Conference season is here and Kiah Haslett is here to break down all the latest news and events in banking and fintech, including all the hot conference goss and Alex’s big plans for coming out of an early retirement to play one last game of pickup basketball at Money 20/20.Then, Alex and Kiah dive into the intricacies of the OCC’s 2024 Bank Supervision Operation Plan, outlining priorities for bank supervisors. How, exactly, can we expect supervisors to monitor all of the different areas they're being tasked with managing? And, as the role of the OCC shifts, will they be able to effectively balance familiarity with objectivity in examinations? Later, Alex and Kiah discuss the implications of the new CFPB guidelines, commiserating over whether or not there’s a way to dispense adverse action notices without having it undermine the underwriting process. Then, they ask another unanswerable question – what is the right way to build a personal financial management app? Also, stay tuned to find out why Alex’s head might explode if he hears one more founder refer to their child as a seed fund… 00:05:03 - Fintech Conference Organizes Pickup Basketball00:11:24 - Regulators' Plan to Supervise Fintech-Bank Partnerships00:14:35 - OCC Collaborates with Banks on Fintech Partnerships00:24:43 - New Guidance on Declined Credit Applications00:32:29 - CFPB's Role in Overdraft Fee Disclosures and AI Underwriting00:39:22 - How Banks Can Cultivate Better Customers00:44:50 – Wait… BUT WHY???00:50:12 – An Unanswerable Question00:58:31 - Budgeting Apps that Analyze Spending01:05:55 - Why Banks Need Personal Financial Apps01:09:49 - How Personal Finance Tools Benefit Banks Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don’t forget to check out my YouTube page. Follow Kiah:LinkedIn: https://www.linkedin.com/in/khaslett/Twitter: https://twitter.com/khaslett Follow Alex: YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videosLinkedIn: linkedin.com/in/alexhjohnsonTwitter: twitter.com/AlexH_JohnsonAll rights reserved. Crowe LLP, a member of Crowe Global, a Swiss verein. For more information, please visit www.crowe.com/fintech

Matthew Goldman (founder of Totavi and author of CardsFTW) joins Alex and Jason to talk through the never-ending challenges of banking-as-a-service, why Evolve hasn’t managed to earn itself a consent order yet, and the growing complexity of BaaS thanks to middleware platforms.The trio then talk about the eternal struggle over interchange fees and why most of the rhetoric around the issue is wrong before quickly touching on Varo’s new P2P payments feature and Affirm’s planned subscription service.Plus, stay tuned as the guys delve into the sad end of the NFT era. Alas, poor Bored Apes, we knew them well!And if you're attending Money 2020, be sure to catch Alex and Jason in person! 00:00:00 - Fintech Recap Returns with Jason Mikula and special guest Matthew Goldman00:02:50 - The Challenges of Banking-as-a-Service00:08:55 - Rapid Growth in BaaS00:18:29 - Visa and Mastercard Increase Interchange Fees00:22:19 - The Cost of Accepting Payments00:26:54 - KLM Implements Credit Card Surcharge00:32:08 - Varro's New Product: P2P Payments00:37:59 - Affirm Tests Subscription-Based Loan Service00:43:42 - The Rise and Fall of NFTs Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don’t forget to check out my YouTube page. Attend Money 2020 here. Follow Matthew: LinkedIn: https://www.linkedin.com/in/matthewgoldman/ Follow Jason:Newsletter: https://fintechbusinessweekly.substack.com/LinkedIn: https://www.linkedin.com/in/jasonmikula/ Follow Alex: YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videosLinkedIn: https://www.linkedin.com/in/alexhjohnsonTwitter: https://www.twitter.com/AlexH_Johnson   00:00:00 - Fintech Recap Returns with Jason Micula00:02:50 - The Challenges of Banking as a Service00:08:55 - Goldman Evolve's Rapid Program Expansion00:18:29 - Visa and Mashcard Increase Interchange00:22:19 - The Cost of Accepting Payments00:26:54 - KLM Implements Credit Card Surcharge00:32:08 - Varro's New Product: P2P Payments00:37:59 - Firm Tests Subscription-Based Loan Service00:43:42 - The Rise and Fall of NFTs Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don’t forget to check out my YouTube page. Attend Money 2020 here. Follow Matthew: LinkedIn: https://www.linkedin.com/in/matthewgoldman/ Follow Jason:Newsletter: https://fintechbusinessweekly.substack.com/LinkedIn: https://www.linkedin.com/in/jasonmikula/ Follow Alex: YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videosLinkedIn: https://www.linkedin.com/in/alexhjohnsonTwitter: https://www.twitter.com/AlexH_Johnson  All rights reserved. Crowe LLP, a member of Crowe Global, a Swiss verein. For more information, please visit www.crowe.com/fintech

You can’t disrupt fintech unless you fully understand its storied history. So what are the biggest lessons we can take away from the past? Join Alex for a fascinating conversation with Charles Birnbaum, Partner at Bessemer Venture Partners and author of the article “The Five Waves of Fintech,” as they dive into the five major phases of disruption in the financial services industry.From before the term “fintech” was coined to the impending technological ripples in the future and beyond, Charles shares his insights on the different segments within fintech and the proof points needed for fintech companies to succeed in the coming years. And later, Alex and Charles discuss the embedded fintech wave and its slower-than-expected progress, as well as the potential catalysts for a new wave of innovation.  00:02:55 - Understanding the History of Fintech00:08:44 - Wave One00:17:47 - Wave Two00:21:29 - The Future of Valuing Fintech Businesses00:29:38 - The Slow Rise of Fintech00:34:07 - Navigating Sales in the Financial Industry00:40:30 - Wave Three00:41:35 - Wave Four00:50:50 - Wave Five00:56:07 - New Waves in Real-Time Payments Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don’t forget to check out my YouTube page. Read “The Five Waves of Fintech”:Website: https://www.bvp.com/atlas/the-five-waves-of-fintech Follow Charles: LinkedIn: https://www.linkedin.com/in/charlesbirnbaum/ Follow Alex: YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videosLinkedIn: linkedin.com/in/alexhjohnsonTwitter: twitter.com/AlexH_JohnsonFor more information, please visit www.crowe.com/fintech