Fintech Business Podcast

Brian Reshefsky, founder and CEO of EDGE, Timothy Li, co-founder of LendAPI, and Vincent Zhang, chief growth officer at Braviant Holdings share insights on the transformative power of cashflow analytics in lending. They discuss how banks and fintechs can enhance underwriting through transaction data and real-time decision-making. The trio highlights the shift toward embedding finance in everyday transactions and the future potential of consumer-controlled financial passports, aiming for seamless lending experiences.

Kunal Datta, the Head of Product at Unit21, shares his expertise in AI and automation for fintech fraud and compliance. He discusses a new playbook for fintechs focusing on eliminating repetitive tasks rather than just smoothing out processes. AI's power in enhancing decision-making for financial crime operations is highlighted, along with the importance of real-time detection in preventing harm. Kunal also dives into the challenges of AI accuracy and the critical data types needed for effective fraud prevention. A must-listen for anyone interested in the future of fintech and compliance!

In this episode, I was joined by Charles Calomiris, Henry Kaufman Professor Emeritus of Financial Institutions in the Faculty of Business and Professor Emeritus of International and Public Affairs at Columbia Business School, Stephen Haber, A.A. and Jeanne Welch Milligan Professor, Senior Fellow at the Hoover Institution and at the Stanford Institute for Economic Policy Research, Professor of History and, by courtesy, of Economics at Stanford University, and Kiah Haslett, bank reporting veteran and creator of the Fintech Takes Banking newsletter.Charles and Stephen are the authors of 2014’s excellent comparative analysis of banking and political systems, Fragile by Design, which informed our discussion and I highly recommend anyone involved in financial services read if they haven’t already.Charles, Stephen, Kiah, and I had the chance to discuss:* The nature of the “Game of Bank Bargains”* Why Canadians love their banks* Some of the underlying reasons behind the growth of the shadow banking system in the US* Charles’ argument that Biden-era regulators were staunchly opposed to innovation in the banking system and why he thinks that former acting Comptroller Michael Hsu was “a complete hack”* Why young people should pay more attention to the fiscal decisions coming out of Washington* The risks of “progressive ideology” and why more government may not be the answer* And much, much moreYou can find more of Charles’ work here and and Stephens’ here. More information on the Hoover Institution, including the ability to sign up for its newsletter, here. Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

This episode was recorded live during last week’s MX Money Experience Summit in Park City, Utah. During the event, I had the chance to sit down with Brian Reshefsky, founder and CEO of cashflow analytics platform EDGE, and Matt West, chief revenue officer of open banking infrastructure company MX. We had the chance to discuss:* What makes EDGE unique among cashflow analytics platforms, including its ability to help lenders make better use of their first-party data* How EDGE works with open banking data companies like MX to power a variety of use cases across the borrower lifecycle, from customer marketing to underwriting and servicing* How cashflow data helps lenders better understand risk across the credit spectrum* Why EDGE decided to structure itself as a credit reporting agency and what that means for lenders using its data* and more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

Join fintech expert Alex Johnson, creator of the Fintech Takes newsletter, as he dives into the latest happenings in open banking. They explore Plaid's surprising deal with JPMorgan Chase and its implications for the industry. The ongoing FBI investigation into Evolve Bank & Trust and potential missing funds raises critical questions. Alex also discusses FICO's evolution into AI and its new language models. The conversation wraps up with a look at Tether's massive fundraising efforts and what it could mean for the market.

In this episode, I had the chance to talk with Hummingbird cofounder and CEO Joe Robinson about the AI-powered compliance platform’s latest product news. Joe and I had the chance to discuss:* The launch of Hummingbird’s new customer screening and transaction monitoring capabilities* How financial institutions can move beyond disparate platforms and siloed data to more effectively mitigate financial crime risk* The explosion of “AI” everything, how Hummingbird actually uses artificial intelligence, and what Hummingbird’s AI-powered capabilities empower its customers to do* The importance of being able to adapt quickly in today’s ever-changing regulatory and threat environment* And more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, Alex and I discussed:* Open banking’s do over: parsing the advanced notice of proposed rulemaking* Rescue ships head for BaaS Island, but what precedent does the first-ever fintech bail out set?* The GENIUS Act, legislation to regulate and license permitted payment stablecoin issuers, is already the law of the land. Why are bank trade groups pushing back now?* And, as always, what Alex and I just can’t let go of. Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, Alex Johnson and I discussed:* The revelation that JPMorgan Chase intends to begin charging third-parties, including aggregators like Plaid and MX, to access consumers’ data rocked the U.S. fintech landscape last week. Alex and I unpacked what it could mean.* Since we recorded this last week, a group trade associations, including the Financial Technology Association and the American Fintech Council, sent a letter to President Trump, essentially asking him to reconsider the CFPB’s position to abandon defense of the rule (I covered this on Sunday here.)* In a surprising turn of events, the CFPB filed a motion in the challenge brought against the rule by a small Kentucky bank, the Kentucky Bankers Association, and the Bank Policy Institute, asking the court to pause the proceedings.* The CFPB said it will undertake a new open banking rulemaking and expects to release an advanced notice of proposed rulemaking within the next three weeks, kicking off an “accelerated” rulemaking process. Stay tuned for Sunday, where I’ll unpack the latest developments and what they mean for open banking.* GENIUS is law: what’s next for stablecoin issuers, banks, custodians, and consumers?* And, as always, what Alex and I just can’t let go of. Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this discussion, Alex Johnson, a fintech commentator and author at Fintech Takes, dives into FICO's new scores that now integrate buy now, pay later data, debating its potential impact. He also explores the CFPB's intervention in the Synapse bankruptcy and the ethical implications of possibly bailing out depositors. The conversation touches on crypto mortgages sparked by Bill Pulte's recent tweet, and critiques of digital bank sub-brands reveals deeper issues with user experience and operations. Expect insights that challenge conventional fintech narratives!

In this engaging discussion, Mary Kay Bowman, Executive Vice President at BILL, shares her extensive experience in fintech, having held pivotal roles at Amazon and Square. She explores BILL's transformation into a comprehensive financial operations platform, and why checks remain surprisingly popular in businesses today. The conversation also tackles the ongoing battle against payment fraud and the innovative possibilities AI brings to streamline transactions. Additionally, she highlights the crucial balance between user experience and the needs of both payers and payees in the evolving payments landscape.