BIGcast

Glen’s annual Money20/20 highlights include a detailed update from Paze’s Head of Operations Catherine Murchie, a conversation with Allen Osgood, the founder of featured startup Eisen, and first-person reflections on CFPB Director Rohit Chopra’s unscripted comments regarding the agency’s personal data rights rule.   Links related to this episode:   Paze: https://www.paze.com/ Eisen: https://www.witheisen.com/ Eisen’s FinovateFall demo: https://finovate.com/videos/finovatefall-2024-eisen/ Money 20/20’s own highlights reel: https://us.money2020.com/experience/highlights  Glen’s blog on the CFPB’s Section 1033 final rule: https://www.big-fintech.com/Media?p=the-cfpbs-personal-data-rights-rule-exhale-but-dont-get-comfortable   Our CU Town Halls are taking a brief break during this busy season, but will be back to brighten your Wednesday afternoons soon!  In the meantime, check out our Fraud-a-Palooza session: https://www.big-fintech.com/Media?p=cu-town-hall-episode-124-fraud-a-palooza   Find us on X at @bigfintech, @jbfintech and @154Advisors You can also follow us on LinkedIn: https://www.linkedin.com/company/best-innovation-group/   https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

Glen speaks with the founders of Starlight and Credit Mountain, two award-winning startups with a goal of smoothing the turbulent patches of consumers’ financial journeys. Also- a first look at the CFPB’s 594-page magnum opus on personal data rights.   Links related to this episode:   Starlight: https://www.get-starlight.com/ Credit Mountain: https://www.creditmountain.co/ Glen’s blog on the CFPB’s personal data rights rule: https://www.big-fintech.com/Media?p=the-cfpbs-personal-data-rights-rule-exhale-but-dont-get-comfortable For masochists only, the CFPB’s full 594-page final rule in all its glory: https://files.consumerfinance.gov/f/documents/cfpb_personal-financial-data-rights-final-rule_2024-10.pdf CU Today’s coverage from the day the final rule was announced: https://www.cutoday.info/site/THE-feature/CFPB-Finalizes-Open-Banking-Rule   Find us on LinkedIn: https://www.linkedin.com/company/best-innovation-group/   https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

Glen speaks with Jessica Heuer and Carrie Stapp about Velera’s recent Psychology of Payments study and strategies for engaging various segments of card users. Also- Durbin and Putin attempt workarounds, and Fiserv wades into uncharted waters.   Links related to this episode:   Velera’s Psychology of Payments report: https://www.pscu.com/insights/white-papers/the-psychology-of-payments Velera’s website: https://www.velera.com/ The Economist’s story on Russia’s proposed “BRICs Bridge” payment system: https://www.economist.com/international/2024/10/20/putins-plan-to-defeat-the-dollar Payments Dive’s coverage of Fiserv’s special purpose banking charter: https://www.paymentsdive.com/news/fiserv-georgia-special-banking-charter-payments-processing-merchants/728933/ Arnall Golden Gregory’s take on Fiserv’s charter: https://www.agg.com/news-insights/publications/fiservs-georgia-malpb-charter-implications-for-the-payments-industry/ CU Today on the CCCA potentially being tucked into hurricane relief legislation: https://www.cutimes.com/2024/10/18/credit-card-competition-act-may-be-included-in-disaster-relief-bill   Join us for Fraud-a-Palooza! Wednesday October 23 at 3pm ET/Noon PT  The next CU Town Hall, a live and lively interactive conversation tackling the major issues facing credit unions today, will focus on a fraud environment that John Best calls the worst he’s seen.  It’s free to attend (credit union employees might even win a door prize), but registration is required:  https://www.cutownhall.com/   Contribute info to our fraud survey: https://forms.monday.com/forms/d76e9b3df9f4f42cec6c16d74b581be2?r=use1   Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors You can also follow us on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

Glen checks in with Money 20/20 President Tracey Davies for a preview of the upcoming four-day Las Vegas extravaganza. Also- a slew of updates on Illinois’ interchange fiasco, a countdown to the CFPB’s open banking rule, and a desperate attempt to tie 1990s funky divas to 2024 payment headlines.        Links related to this episode:   Money 20/20 USA, October 27-30 in Las Vegas: https://www.money2020.com/ Last week’s CU Town Hall- featuring insights from the Illinois Credit Union League’s Tom Kane- on the Interchange Fee Prohibition Act: https://www.big-fintech.com/Media?p=cu-town-hall-episode-123 Glen’s blog on the IFPA: https://www.big-fintech.com/Media?p=battle-lines-being-drawn-on-illinois-interchange The OCC’s amicus brief to the IFPA: https://bankingjournal.aba.com/wp-content/uploads/2024/10/OCC-Amicus-Brief-IFPA.pdf The OCC’s amicus brief to the IFPA: https://restaurant.org/getmedia/d5f460e3-3cb6-4d77-9e82-2bf4ae3dc972/2024-10-04-Exhibit-A-to-Corrected-Unooposed-Mtn-of-RLC-IRA-RLC.pdf Glen’s History of Money 20/20 in three t-shirts: https://www.big-fintech.com/Media?p=the-history-of-money-2020-in-three-t-shirts   Join us for the next CU Town Hall on Wednesday October 23 at 3pm ET/Noon PT for a live and lively interactive conversation tackling the major issues facing CUs today. For this session John Best will lead Fraud-a-Palooza!  It’s free to attend (credit union employees might even win a door prize!), but advance registration is required:  https://www.cutownhall.com/   And contribute info to our fraud survey here: https://forms.monday.com/forms/d76e9b3df9f4f42cec6c16d74b581be2?r=use1   Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors You can also follow us on LinkedIn: https://www.linkedin.com/company/best-innovation-group/   https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

Glen speaks with key players at TruStage Ventures’ Fintech Summit: Discovery Fund Managing Director Elizabeth McCluskey on the state of early stage investing, founder Gwyneth Borden on Remynt’s journey to startup funding, and Maxwell’s co-founder John Paasonen on addressing the housing affordability gap. Also, surprising battle lines forming in the Illinois interchange showdown.      Links related to this episode:   TruStage Ventures: https://www.trustage.com/ventures/portfolio TruStage Discovery Fund: https://www.trustage.com/ventures/discovery-fund Maxwell: https://himaxwell.com/ Remynt: https://getremynt.com/ Glen’s update on the Illinois’ Interchange Fee Prohibition Act: https://www.big-fintech.com/Media?p=a-state-of-confusion-interchange-battles-move-closer-to-home Our 2022 interviews with Money 20/20 America’s Got Access winners Dennis Cail (Zirtue) and Gwyneth Borden (Remynt): https://www.big-fintech.com/Media?p=americas-got-access-vegas-has-crowds   Finovate’s demo archive: https://finovate.com/videos   Join us for the next CU Town Hall on Wednesday October 9 at 3pm ET/Noon PT for a live and lively interactive conversation tackling the major issues facing CUs today. This session will focus on the latest developments in Illinois interchange legislation, and why it’s a national issue. It’s free to attend (credit union employees might even win a door prize!), but advance registration is required:  https://www.cutownhall.com/    Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors You can also follow us on LinkedIn: https://www.linkedin.com/company/best-innovation-group/   https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

John and Glen explore the machinations of the Interchange Fee Prohibition Act, the potential impacts that extend well beyond Illinois, and how it could alter prospects for the Capital One/Discover merger. Also- initial thoughts on the DOJ’s antitrust suit against Visa’s debit business, and a gratuitous swipe at Ticketmaster.    Links related to this episode:   Glen’s blog on the Interchange Fee Prohibition Act: https://www.big-fintech.com/Media?p=a-state-of-confusion-interchange-battles-move-closer-to-home Our August interview with the Illinois Credit Union League on the topic: https://www.big-fintech.com/Media?p=ill-communication-on-illinois-interchange The ICUL’s press release explaining the recently filed lawsuit: https://www.icul.com/news/icul-news/bank-and-credit-union-groups-join-forces-to-challenge-new-illinois-law-restricting-interchange-fees/ Thoughts on the Capital One/Discover merger from back in February: https://www.big-fintech.com/Media?p=the-capital-onediscover-deal-a-test-of-typical-battle-lines-and-a-credit-union-angle AP News’ reporting on the DOJ’s antitrust lawsuit against Visa: https://apnews.com/article/visa-antitrust-justice-department-debit-card-fees Payments Dive’s take on Visa’s partner agreements that may have spurred DOJ action: https://www.paymentsdive.com/news/visa-debit-credit-card-network-stymied-fintech-payments-competition/728033/    Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors You can also follow us on LinkedIn: https://www.linkedin.com/company/best-innovation-group/   https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

Part 2 of our Finovate recap features interviews with three more standouts- Further, MoneyKit and Telesign- from an impressive batch of demoing companies. Plus- Glen reveals his Best of Show ballot, and serial entrepreneurs extend their winning streaks.   Links related to this episode:   MoneyKit: https://moneykit.com/ Further: https://gofurther.app/ Telesign: https://www.telesign.com/ Telesign’s Trust Index: https://www.telesign.com/continuous-trust-authority/trust-index Last week’s episode featuring interviews with Finovate standouts CardLift and Quavo: https://www.big-fintech.com/Media?p=the-best-things-i-saw-at-finovatefall Our interview with Deidre Campbell on the Edelman Trust Barometer: https://www.big-fintech.com/Media?p=retaining-member-trust-amid-the-decline-of-authority  Glen’s blog on his key takeaways from FinovateFall: FinovateFall: https://informaconnect.com/finovatefall/ Best of Show winners: https://finovate.com/finovatefall-2024-best-of-show-winners-announced/ Replay of our recent CU Town Hall on what constitutes a Primary Financial Institution (and whether it matters): https://www.big-fintech.com/Media?p=cu-town-hall-episode-122-primary-financial-institutions   Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors You can also follow us on LinkedIn: https://www.linkedin.com/company/best-innovation-group/   https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

Glen speaks with two of his favorite fintechs he saw at the recently completed and highly engaging FinovateFall conference: Best of Show winner CardLift and fraud/dispute management platform Quavo. Also- an overview of the eight Best of Show winners, the inevitable artificial intelligence parade, and a pronounced shift in favor of credit unions.       Links related to this episode:   CardLift: https://withcardlift.com/ Quavo: https://www.quavo.com/ Illuma: https://illuma.cx/ FinovateFall: https://informaconnect.com/finovatefall/ Our recent interview with Finovate’s Greg Palmer: https://www.big-fintech.com/Media?p=big-startup-energy Best of Show winners: https://finovate.com/finovatefall-2024-best-of-show-winners-announced/   Join us for the next CU Town Hall on Wednesday September 18 at 3pm ET/Noon PT for a live and lively interactive conversation tackling the major issues facing CUs today. This session will focus on whether the notion of a Primary Financial Institution is myth or reality. It’s free to attend (credit union employees might even win a door prize!), but advance registration is required:  https://www.cutownhall.com/  Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors You can also follow us on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

Glen speaks with Managing Director Deidre Campbell about the Edelman Trust Barometer and its insights on consumer attitudes, with impact for financial institutions and beyond. We then detour into regenerative farming as Fintech South Innovation Challenge winner Alex Edquist discusses how her startup Good Agriculture empowers small farms. Also- banking’s version of the Tide Pod Challenge?   Links related to this episode:   The Edelman Trust Barometer: https://www.edelmansmithfield.com/2024-edelman-trust-barometer/supplemental-report-insights-financial-services Trust at Work: https://www.edelman.com/trust/2024/trust-barometer/special-report-trust-at-work  Good Agriculture: https://goodagriculture.com/  Fintech South: https://www.fintechsouth.com/ Hypepotamus’ overview of the ten Innovation Challenge participants: https://hypepotamus.com/companies/b2b/meet-the-10-semifinalist-startups-for-the-fintech-south-innovation-challenge/   The Chase ATM TikTok fiasco (a/k/a Check Fraud): https://www.cnn.com/2024/09/03/business/chase-tiktok-trend/index.html  Consolidation of the Virginia Credit Union League and League of Southeastern Credit Unions: https://www.vacul.org/news/lscu-and-vacul-announce-intent-to-consolidate  Join us for the next CU Town Hall on Wednesday September 18 at 3pm ET/Noon PT for a live and lively interactive conversation tackling the major issues facing CUs today. This session will focus on whether the notion of a Primary Financial Institution is myth or reality. It’s free to attend (credit union employees might even win a door prize!), but advance registration is required:  https://www.cutownhall.com/   Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors You can also follow us on LinkedIn:  https://www.linkedin.com/company/best-innovation-group/   https://www.linkedin.com/in/jbfintech/  https://www.linkedin.com/in/glensarvady/

John and Glen riff on the role Bitcoin is suddenly playing in the presidential election, and the thorny issue of how the US government should “manage” its crypto holdings. Also- assessing the prospects beyond the bluster for productive crypto legislation, and the bizarre backstory of HODL.   Links related to this episode:   In his own words, Mark Cuban’s take on Donald Trump’s crypto conversion: https://x.com/mcuban/status/1813591281970348264 The House’s approved crypto bill (the ball’s in your court, Senate): https://www.coindesk.com/policy/2024/05/22/us-house-approves-crypto-fit21-bill-with-wave-of-democratic-support/ Analysis of Bitcoin’s mid-August price decline coinciding with movement of government holdings: https://www.fxempire.com/forecasts/article/bitcoin-price-prediction-btc-down-as-u-s-govt-transfers-btc-worth-600m-1454167 Coindesk’s take on the same: https://www.coindesk.com/markets/2024/08/14/nearly-600m-of-silk-road-bitcoin-hits-coinbase-prime-but-not-necessarily-to-sell/ The history of HODL: https://www.investopedia.com/terms/h/hodl.asp   Join us for the next CU Town Hall on Wednesday September 11 at 3pm ET/Noon PT for a live and lively interactive conversation tackling the major issues facing CUs today. It’s free to attend (credit union employees might even win a door prize!), but advance registration is required:  https://www.cutownhall.com/  Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors You can also follow us on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/