BIGcast

The Illinois Credit Union League’s Tom Kane and Ashley Sharp go deep on the turmoil surrounding Illinois’ problematic new interchange law and the steps being taken to course correct. Also- Sam Altman’s Worldcoin moves fast and scans (personal) things, and…Backpedaling as a Service (BaaS)?    Links related to this episode:   Our continuing coverage of Illinois’ Interchange Fee Prohibition Act:  https://www.big-fintech.com/Media?p=a-state-of-confusion-interchange-battles-move-closer-to-home 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/ The “Guard Your Card” website: https://guardyourcard.com/illinois/ The Chicago Tribune’s editorial opposing the Illinois law: https://www.chicagotribune.com/2024/06/03/editorial-retailers-credit-cards-interchange-pritzker-springfield/ The Wall Street Journal’s front page article on Sam Altman’s Worldcoin/retinal scanning efforts: https://www.wsj.com/tech/sam-altman-openai-humanness-iris-scanning-4d0e1dab   Join us for the next CU Town Hall on Wednesday August 28 at 3pm ET/Noon PT for a live and lively interactive conversation tackling the major issues facing CUs today. It’s free to attend (you 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 chats with Finovate’s Greg Palmer about the state of fintech investment and startup momentum in anticipation of September’s Finovate NYC event. Also- soft landings, long bike rides, $2.5 billion bets and honest borrowers.   Links related to this episode:   Finovate Fall in NYC September 9-11: https://informaconnect.com/finovatefall/ ***Use code BIG20 for a 20% discount off registration*** TruStage’s Discovery 2024 conference replay: https://trustage.registration.goldcast.io/events/414b601e-9185-426f-9877-6405088473e5 Lamont Black’s bike ride from Maps to Redwood CU: https://www.linkedin.com/posts/lamontblack_ai-outdoors-bikepacking-activity-7228525803385274369-XW5p BNPL’s analog precursor: https://www.marketplace.org/2024/08/12/schulze-family-business-kept-old-things-running-for-82-years/ PYMNTS.com’s interview with NCR Voyix digital banking leadership after its $2.5B sale to private equity: https://www.pymnts.com/news/digital-banking/2024/ncr-voyix-2-5-billion-sale-to-veritas-verifies-digital-bankings-long-term-potential/    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/

Cybersecurity expert Roger Grimes demystifies the changing ransomware landscape- how much money do criminals usually demand? How often are they paid, and how much? What is “dwell time,” how do ransomware and wiperware differ, and what constitutes offline backup? Also- the first HODL President?   Links related to this episode:   Our full CU Town Hall session with Roger Grimes: https://www.big-fintech.com/Media?p=cu-town-hall-episode-120 Roger’s Ransomware Protection Playbook: https://www.amazon.com/Ransomware-Protection-Playbook-Roger-Grimes/dp/1119849128 KnowBe4: https://www.knowbe4.com/ CU Today’s continuing coverage of the Patelco ransomware incident: https://www.cutoday.info/Fresh-Today/Following-Ransomware-Attack-Patelco-Has-Restored-Many-Services-But-Others-Remain-Unavailable Forbes’ onsite coverage of Bitcoin 2024: https://www.forbes.com/sites/digital-assets/2024/07/31/bitcoin-2024-when-rage-became-the-machine/  Reuters’ comments on Trump’s crypto conversion: https://www.reuters.com/business/finance/trump-cites-china-competition-vowing-create-bitcoin-stockpile-2024-07-27/  Our October interview with Doug Brown, President of Digital Banking for NCR Voyix: https://www.big-fintech.com/Media?p=a-digital-first-twin-takes-flight Join us for the next CU Town Hall on Wednesday August 7 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 (you 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 the Atlanta Fed’s Claire Greene about takeaways from the latest Survey of Consumer Payment Choice- including card’s dominance, mobile’s ubiquity, BNPL’s ascent and cash’s resilience. Also, the NY Times offers an unexpected backstop for the paper check.   Links related to this episode:   The Atlanta Fed’s Diary and Survey of Consumer Payment Choice: https://www.atlantafed.org/banking-and-payments/consumer-payments/survey-and-diary-of-consumer-payment-choice/2023-survey-and-diary Federal Reserve Financial Services’ cash-centric analysis of the data: https://www.frbservices.org/binaries/content/assets/crsocms/news/research/2024-diary-of-consumer-payment-choice.pdf NY Times’ story on Why Paper Checks Refuse to Die: https://www.nytimes.com/2024/07/24/business/paper-check-payment-fraud-scam.html TruStage’s Discovery 2024 conference, held virtually Wednesday August 8: https://shorturl.at/1KKK0 Java4Kids: https://javaforkids.org/   Join us for the next CU Town Hall on Wednesday August 7 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 (you 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’s wide-ranging conversation with Deluxe CEO Barry McCarthy and Technology Association of Georgia CEO Larry Williams spanning five decades of innovation, leadership in turbulent times, reinvention and civic responsibility. Also- another cautionary angle to the CrowdStrike mess, and Fintech Nation comes to Atlanta in August.   Links related to this episode:   Fintech South, August 27-28 in Atlanta; USE CODE FTS24FTSociety FOR A DISCOUNT ON REGISTRATION: https://www.fintechsouth.com/  Deluxe: https://www.deluxe.com/  The Technology Association of Georgia: https://www.tagonline.org/societies/fintech/    Join us for for the next CU Town Hall on Wednesday July 24 at 3pm ET/Noon PT for a live and lively interactive conversation tackling the major issues facing CUs today. It’s free to attend (you 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 Co-Founder/CEO Austin Wentzlaff about Nook’s mission to reclaim a personalized credit union member experience, and why his team planned to be a CUSO from the start. TruStage’s Danielle Sesko explains how Payment Guard revamps a legacy loan insurance model for today’s digital personal lending. And Glen senses a shift in the media narrative on Banking as a Service and FDIC insurance.   Links related to this episode:   Nook: https://www.nook-inc.com/ TruStage Payment Guard’s Finovate Spring Demo: https://finovate.com/videos/finovatespring-2024-trustage/ Cornerstone/TruStage research paper on embedded payment insurance: https://www.trustage.com/business/insights/financial-trends/embedded-payment-insurance-digital-lending-research Last week’s CU Town Hall featuring Roger Grimes on the ransomware climate: https://www.big-fintech.com/Media?p=cu-town-hall-episode-119-ransomware-protection-with-roger-grimes NY Times feature story, spurred by Synapse’s bankruptcy, on consumer confusion around FDIC insurance: https://www.nytimes.com/2024/07/09/business/synapse-bankruptcy-fintech-fdic-insurance.html  The Register’s coverage of the Evolve bank breach, which also ensnared Synapse: https://www.theregister.com/2024/07/09/evolve_lockbit_attack/ Fintech Business Weekly’s ongoing coverage of the Synapse/Evolve situation: https://fintechbusinessweekly.substack.com/ Join us for for the next CU Town Hall on Wednesday July 24 at 3pm ET/Noon PT for a live and lively interactive conversation tackling the major issues facing CUs today. It’s free to attend (you 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/

CEO of Bonifii, John Ainsworth, discusses identity solutions with Metal, the battle over interchange/reward points, community centers in branches, and the comeback of screen scraping. Also, a class action lawsuit against Navy Federal CU and discussions on web scraping.

Glen speaks with Glia’s Jake Tyler about his firm’s approach to delivering ethical AI solutions to financial institutions. Also- Finovate Best of Show winners, and the continuing crisis in card interchange.    Links related to this episode:   Glia: https://www.glia.com/news/glia-launches-first-responsible-ai-platform-purpose-built-for-financial-institutions Demo videos for Finovate Spring’s Best of Show winners: https://finovate.com/videos/?filtertype=&showtypes=FinovateSpring&videostartyear=2024&showletters=A-Z   Our November 2022 interview with Remynt founder Gwyneth Borden: https://www.big-fintech.com/Media?p=americas-got-access-vegas-has-crowds  Glen’s blog on the flurry of state interchange legislation: Last week’s BIGCast on Apple Intelligence and proposed AI legislation: https://www.big-fintech.com/Media?p=algorithmic-discrimination-and-other-sci-fi-sounding-terms-relevant-today    Check out BIG’s AI Development offerings, enabling credit unions to streamline operations, amplify member experiences and capture new opportunities in the digital financial landscape. https://www.big-fintech.com/Products-Services/AI-Development  Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors (same handles for both) 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/

So much news, so little time: John and Glen unravel Colorado’s new Artificial Intelligence Act, Apple’s hookup with OpenAI to fuel its own systems and the apparent unraveling of Visa/Mastercard’s merchant settlement. Plus, watching Siri age in warp speed.   Links related to this episode:   Law Firm Mayer Brown’s synopsis of Colorado’s AI Act: https://www.mayerbrown.com/en/insights/publications/2024/06/colorado-governor-signs-comprehensive-ai-bill  Colorado Public Radio’s take on the state law: https://www.cpr.org/2024/06/17/colorado-artificial-intelligence-law-implementation-ramifications/  Javelin Research on the imperiled Visa/Mastercard settlement: https://www.paymentsjournal.com/visa-mastercard-settlement-unlikely-to-be-approved/  Marketing Dive summarizes Apple Intelligence and the OpenAI link: https://www.marketingdive.com/news/apple-intelligence-ai-openai-chatgpt-partnership-wwdc/718539/  The BBC’s view from overseas (including Elon’s disses): https://www.bbc.com/news/articles/c4nn5mejl89o  Tim Cook interviewed by Marques Brownlee: https://www.youtube.com/watch?v=pMX2cQdPubk    Check out BIG’s AI Development offerings, enabling credit unions to streamline operations, amplify member experiences and capture new opportunities in the digital financial landscape. https://www.big-fintech.com/Products-Services/AI-Development  Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors (same handles for both) 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 TeamOnUP CEO Mike Kelly about “getting dreams done on purpose” and the beauty of small credit unions. Also, more on the Illinois interchange fiasco, the CFPB’s latest populist outburst, and Glen welcomes Google to the world of incumbents.    Links related to this episode:   TeamOnUP: https://teamonup.com/  Mike Kelly’s book “Meaning is the Mission” (print, Kindle, audio): https://www.amazon.com/dp/B0D1LG79GY   Payments Dive’s coverage of the Illinois Interchange bill: https://www.paymentsdive.com/news/illinois-debit-credit-card-interchange-swipe-fee-legislation/718371/  The CFPB’s newly announced process for recognizing open banking standards (rigging be damned): https://www.consumerfinance.gov/about-us/newsroom/cfpb-launches-process-to-recognize-open-banking-standards/  Our April interview with FDX Managing Director Don Cardinal: https://www.big-fintech.com/Media?p=a-bluetooth-for-open-banking  Glen’s blog on GPT-4o’s continuing drama (no pizza tips included): https://www.big-fintech.com/Media?p=artificial-intelligence-intellectual-property-and-missing-the-point-on-her    Check out BIG’s AI Development offerings, enabling credit unions to streamline operations, amplify member experiences and capture new opportunities in the digital financial landscape. https://www.big-fintech.com/Products-Services/AI-Development  Find us on X and BlueSky at @bigfintech, @jbfintech and @154Advisors (same handles for both) 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/