Fintech Takes

Reflecting on the 1st SVB collapsiversary, discussing banking deserts and online banks impact, questioning the future of BaaS innovation with tighter regulations, and tackling Durbin Amendment's effects on convenience stores in North Dakota.

On this week’s episode of Fintech Takes, Alex is joined by international man of mystery and publisher of Fintech Business Weekly, Jason Mikula, along with the Ghost of Fintech Future and cruise director of New York Fintech Week, Jon Zanoff. First up, the guys discuss the latest in the Capital One/Discover deal and debate the nature of mergers and acquisitions. Are M&As inherently bad for fintech? How do they impact innovation and why are consumers usually the victims of consolidation? They break down the ways that M&As affect the competition cycle and ponder what the Capital One/Discover deal means for the larger credit card industry.Then, the guys take a trip back over to BaaS Island where things have devolved into a “Lord of the Flies” situation. Alex, Jason, and Jon unpack Lineage’s latest consent order with the FDIC and discuss why regulators are so obsessed with fast deposit growth. Which leads them to ask the question—exactly what standards should we be measuring BaaS bank size by? Plus, think your founder is bad? Meet the founder of Zera who raised $2.2 million from investors only to use it on… horseshoes and tropical fish? And later, Alex tries to determine just how much inflation has affected the Tooth Fairy’s pricing structure and Jon reveals what he’s looking forward to most about New York Fintech Week 2024.And if you haven’t already, be sure to sign up for New York Fintech Week 2024 and receive 15% off with Promo Code BAASISLAND. 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 John: LinkedIn: https://www.linkedin.com/in/jonzanoff/Website: https://empirestartups.com 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

Former fintech founder Matt Harris shares his roller coaster journey of success and burnout, highlighting the challenges and emotional toll faced by founders. He discusses the unhealthy dynamics between investors and founders, the importance of setting boundaries, and finding purpose in helping others navigate the startup world. Harris emphasizes resilience, self-care, and the valuable lessons learned from failures in the entrepreneurial journey.

In this podcast, they dive into successful business models in fintech, like ServiceTitan's multifaceted approach and AmEx's unique model. They also discuss The Bancorp's BaaS strategy for high return on equity. Insights from fintech experts and a focus on profitability over products make this episode insightful.

Candid conversations with Shamir Karkal, former Co-Founder of Simple, on the journey of launching and dismantling Simple, reflecting on the founder mentality, and the importance of cash flow data. Brent Chandler joins to discuss the mission of FormFree and identity in entrepreneurship.

Join the hosts as they discuss failures, successes, and tough decisions in the world of fintech. Explore the emotional toll of entrepreneurship, letting go of ventures, and building anew while holding onto the past. Learn about the challenges of co-founding a company, relationship-building, and managing expectations in the fintech industry.

America’s favorite banking and fintech Editor, Kiah Haslett, drops by to unpack the latest, craziest, and hottest news in the banking world for another round of Bank Nerd Corner with Alex, and this week they’re weighing in on whether the fuss about New York Community Bank is warranted, if car dealers are conspiring to increase prices, and the unusual path of Panacea Financial.First up, with New York Community Bank taking on a higher refi risk to have much safer credits, we have to ask — what’s got analysts so up in arms? Why is stock price suddenly a proxy for stability for banks in the public market?Then, Alex and Kiah discuss Panacea Financial, a niche neobank focused on serving healthcare professionals, and its recent funding round before diving into the insane growth in car loans. With overly expensive loans being sold at overinflated car prices, is this the perfect storm for delinquency?  Plus, Kiah raises several unanswered questions about the BSCA and its enforcement, highlighting the potential implications for fintech partnerships with banks before going off about why deposits, not stock prices, were the reason behind SVB’s failure. 3:28 AOBA Conference Highlights9:30 New York Community Bank26:35 Panacea Finacial38:45 Auto Loan Delinquency on the Rise51:37 An Unanswerable Question1:12:10 Go Off, Kiah! 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: https://www.linkedin.com/in/alexhjohnsonTwitter: https://www.twitter.com/AlexH_Johnson

Simon Taylor, a fintech expert and author of a recent Q1 report, joins Alex to discuss exciting emerging companies. They explore TipTop, an app for instant cash trade-ins of electronics, and ponder its potential if logistical hurdles are solved. Rove aims to attract Gen Z with a new travel rewards card, but is it necessary? The duo examines Lucite's AI-driven solutions for investment banking materials and evaluates Prosper's user-friendly investment platform designed to challenge traditional players. The future of fintech is bright and full of possibilities!

Blue Ridge Bank and Choice Bank face enforcement actions, raising questions about consumer alarm and regulatory response to BaaS. Klarna and Affirm expand offerings, including subscription-based services and high-yield savings accounts. The hosts debate PayPal's aggressive PR push and the $3.1 billion valuation of Bilt Rewards. They also touch on fast lane and smart receipts in fintech, as well as discuss Built, a payments and reward network for renters. The podcast ends with reactions to a ridiculous crypto scam video and the impact of the .ai boom in Anguilla.

Frank Rotman, Chief Investment Officer at QED Investors, shares insights on credit underwriting, cashflow underwriting, alternative data, payment protection insurance, and the future of fintech. They discuss distinguishing willingness to pay from ability to pay, accurate pricing of risk, explaining declines, American mortgages, predatory lending, and innovating credit and insurance delivery.