BIGcast

Our annual New Years rite of passage- Anne Legg and John Janclaes join John and Glen to forecast the big fintech/credit union stories of 2024- leading to a healthy blend of consensus and spirited debate. Will Gen AI continue its rocket-like ascent or become bogged down in regulation? Will instant payments take center stage?  How good were the team’s 2023 predictions…and what inside scoop did JB have on Bitcoin?   Links related to this episode:   THRIVE Strategic Services: https://www.anneleggthrive.com/ Nymbus CUSO: https://www.nymbus.com/cuso/  Keep us honest by checking back on our 2023 predictions: https://www.big-fintech.com/Media?p=fintech-predictions-for-2023  Cathie Wood’s TED Talk on her case for “exponential economic growth”: https://www.ted.com/talks/cathie_wood_why_ai_will_spark_exponential_economic_growth/transcript?language=en  Glen’s article for America’s Credit Unions (a BIGCast sponsor!) on the 2023 stories that will continue to shape 2024: https://news.cuna.org/articles/123444-top-2023-issues-shape-2024     PLUS! Don't miss this very special edition of the CU Town Hall on Wednesday, January 10th, at 3 pm ET/Noon PT! Join us were we will proudly unveil our latest sponsor, Illuma Labs, leaders in frictionless voice authentication and fraud prevention for contact centers in credit unions. Would you like to protect your members with seamless voice verification? Click the link here and check out Illuma today- https://illuma.cx/ But wait, there's more! As a token of our appreciation for our Town Hall community, we are partnering with William Mills Agency to give away a cutting-edge 3D Printer during the live session, exclusively for credit union and financial institution employees. Share this post before the session begins to receive an extra entry into the drawing! (Must be present to win.)   Click the link below to sign up and receive your invite! https://www.cutownhall.com/   Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Connect with Glen on LinkedIn or X (@154Advisors) Connect with John on LinkedIn or X (@jbfintech)

2023 was so packed with major stories it’s hard to believe some are still less than a year old. Anne Legg and John Janclaes join John and Glen for a lively discussion of these events and their continuing aftermath.    Links related to this episode:   THRIVE Strategic Services: https://www.anneleggthrive.com/ Nymbus CUSO: https://www.nymbus.com/cuso/  John suggests watching this 60 Minutes segment on Quantum Computing:  https://www.youtube.com/watch?app=desktop&si=iky7jzNOd7HiB0AH&v=K4ssT6Dzmnw&feature=youtu.be  The BIGCast’s March coverage of the Silicon Valley Bank/broader liquidity crisis: https://www.big-fintech.com/Media?p=silicon-valley-bank-through-a-credit-union-lens  Join our next CU Town Hall on Wednesday, January 10 at 3pm ET/Noon PT, as we kick off another year of interactive discussion of the biggest real-time issues facing credit unions.  Attendance is free, but advance registration is required: https://www.cutownhall.com/    Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Connect with Glen on LinkedIn or X (@154Advisors) Connect with John on LinkedIn or X (@jbfintech)

John and Glen sort through what we know about the ransomware attack that knocked 60 small (under $100 million) credit unions offline, including why it should be neither a surprise nor a sign of small CU weakness. Also- updates to last week’s OpenAI coverage.    Links related to this episode:   CU Today’s coverage of the ransomware attack: https://www.cutoday.info/THE-feature/Agency-Frustrated-Over-Early-Info-Delays  Ongoing Operations’ latest update (as of Dec 11): https://ongoingoperations.com/incident-status/  A cybersecurity view of the attack: https://www.theregister.com/2023/12/02/ransomware_infection_credit_unions/ More on CirtixBleed: https://doublepulsar.com/what-it-means-citrixbleed-ransom-group-woes-grow-as-over-60-credit-unions-hospitals-47766a091d4f  Glen’s blog post detailing OpenAI’s board room drama: https://www.big-fintech.com/Media?p=detangling-openais-palace-intrigue   Last week’s BIGCast discussion of OpenAI’s boardroom coup: https://www.big-fintech.com/Media?p=open-ais-messy-first-birthday-party    Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Connect with Glen on LinkedIn or X (@154Advisors) Connect with John on LinkedIn or X (@jbfintech)

John and Glen dive into the mysterious, fascinating and perhaps still ongoing Open AI governance saga, dissecting the role of concepts like effective altruism, artificial general intelligence, reinforcement learning and board responsibility (There’s a credit union tie-in, we promise.). Also, John’s special offer to Microsoft CEO Satya Nadella.       Links related to this episode:   Glen’s blog post detailing more of the board room background: https://www.big-fintech.com/Media?p=detangling-openais-palace-intrigue Wikipedia’s Open AI entry (note the 2015-19 history): https://en.wikipedia.org/wiki/OpenAI  Harvard Business Review’s postmortem on Open AI’s “failed governance model”: https://hbr.org/2023/11/openais-failed-experiment-in-governance  The Australia Financial Review’s profile of the Open AI board that dismissed Sam Altman: https://www.afr.com/world/north-america/firing-squad-the-openai-board-members-who-sacked-sam-altman-20231123-p5emcd   Open AI Chief Scientist Ilya Sutskever’s TED Talk on Artificial General Intelligence, delivered 3-4 weeks before the management meltdown: https://www.ted.com/talks/ilya_sutskever_the_exciting_perilous_journey_toward_agi  Hard Fork’s interview with Sam Altman two days before he was fired: https://www.youtube.com/watch?v=ivdXr1PHFPo  Have I Been Trained?- a site flagging unauthorized use of proprietary material for AI training: https://haveibeentrained.com/  Replay of our CU Town Hall where John takes stock of the fintech advancements of the past decade- and compare them to his 2015 predictions: https://www.youtube.com/watch?v=TEDal_gbFxY     Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Connect with Glen on LinkedIn or X (@154Advisors) Connect with John on LinkedIn or X (@jbfintech)

More highlights from the VentureTech conference: Penny Finance founder Crissi Cole on her startup’s “women-first” approach to financial planning, QCash CEO Seth Brickman on getting an offer his CUSO couldn’t refuse, and Vertice AI co-founder Mitch Rutledge on collaborating with Wellby Financial’s Richard Sowell to fuel member engagement.         Links related to this episode:   Penny Finance: https://www.penny-finance.com/  QCash: https://qcashfinancial.com/  Vertice AI: https://verticeanalytics.ai/  Wellby Financial: https://www.wellbyfinancial.com/  Launch Party winner Peacefully: https://www.peacefully.com/  VentureTech: https://myventuretech.com/  Join us for the next LIVE CU Town Hall Wednesday November 29 at 3pm ET/ Noon PT as we revisit the most impactful fintech/credit union events during BIG’s first ten years. It’s free to all, but advance registration is required: https://www.cutownhall.com/ (Use the same link for a replay after December 1).   

Continuing our annual BIGCast tradition, John and Glen are joined by Anne Legg and John Janclaes for a roundtable discussion of the credit union and fintech developments they’re most thankful for. Also- a quick look back at the Best Innovation Group’s first ten years.   Links related to this episode:   THRIVE Strategic Services: https://www.anneleggthrive.com/ Nymbus CUSO: https://www.nymbus.com/cuso/  Join our next CU Town Hall on Wednesday, November 29th at 3pm ET/Noon PT, when we’ll be recounting the major fintech developments of the past ten years. We’ll also hold John to account for his A Digital Day in 2025 predictions made in…2015! Attendance is free, but advance registration is required: https://www.cutownhall.com/  “Blood in the Machine: Origins of the Rebellion Against Big Tech”: https://www.hachettebookgroup.com/titles/brian-merchant/blood-in-the-machine/9780316487740/?lens=little-brown  VentureTech: https://myventuretech.com/    Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Connect with Glen on LinkedIn or X (@154Advisors) Connect with John on LinkedIn or X (@jbfintech)  

Just back from last week’s VentureTech conference, Glen has interviews with a trio of founders from standout startups: Sparrow’s Harrison Hochman, Debbie’s Rachel Lauren, and Legal Karma’s Kory Kelly. Also- the PSCU/Co-Op merger, and the relentless pursuit of deposits and the elusive Generation Z.       Links related to this episode:   Sparrow: https://www.sparrowfi.com/  Debbie: https://www.joindebbie.com/   Legal Karma: https://www.legalkarma.io/  CU Today’s coverage of the PSCU/Co-Op Merger: https://www.cutoday.info/site/THE-feature/Addtional-Details-Around-Huge-Deal-Are-Released  VentureTech: https://myventuretech.com/  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    Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Connect with Glen on LinkedIn or X (@154Advisors) Connect with John on LinkedIn or X (@jbfintech)

In Part 2 of our Money 20/20 coverage, Glen speaks with Guppy CEO (and Money 20/20 Wizard!) Sanjib Kalita about how Unicorns have given way to the Age of Centaurs. MSUFCU’s Ami Iceman and Prizeout founder David Metz discuss an adtech solution that leaves everyone better off, and Glen recaps other key takeaways from Vegas.     Links related to this episode:   Glen’s Money 20/20 coverage at CUNA.org: https://news.cuna.org/articles/123262-embedded-finance-regulatory-dynamics-dominate-money-20-20  Money 20/20’s white paper on the Age of Centaurs: https://www.money2020.com/content/whitepapers/welcome-centaurs  Sanjib Kalita’s startup Guppy: http://www.guppyfin.com/  Prizeout: https://prizeout.com/  Reseda Group: https://www.resedagroup.com/  MSUFCU: https://www.msufcu.org/  The CFPB’s proposed Section 1033 rule on Personal Financial Data Rights: https://www.consumerfinance.gov/rules-policy/notice-opportunities-comment/open-notices/required-rulemaking-on-personal-financial-data-rights/   Details on the approved CUNA/NAFCU merger: https://www.cuna.org/about/cuna-and-nafcu-merger.html    Check Out FIVEGPT, the new collaboration between the Best Innovation Group and Bonifi: https://www.big-fintech.com/Media?p=best-innovation-group-and-bonifii-announce-joint-development-of-fivegpt   Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Connect with Glen on LinkedIn or X (@154Advisors) Connect with John on LinkedIn or X (@jbfintech)

Glen shares highlights from an even more rousing than usual Money 20/20, including Silicon Valley Bank’s Chief Product Officer Gagan Kanjlia on a bold branding decision, Cushion Founder Paul Kesserwani on BNPL’s awkward evolution, and Twentyfold’s William Mellis on a new fintech research platform. Also- Debit’s demolition derby and the Points Guy feels the heat.    Links related to this episode:   Silicon Valley Bank: https://www.svb.com/   Cushion: https://cushion.ai/  Twentyfold: https://www.twentyfold.com/  Money 20/20: https://www.money2020.com/  McKinsey’s Digital Consumer Payments Survey: https://www.mckinsey.com/industries/financial-services/our-insights/banking-matters/consumer-digital-payments-already-mainstream-increasingly-embedded-still-evolving    Check Out FIVEGPT, the new collaboration between the Best Innovation Group and Bonifi: https://www.big-fintech.com/Media?p=best-innovation-group-and-bonifii-announce-joint-development-of-fivegpt   Plus, the latest BIG Blog: Hold onto Your Wallets- Debit Interchange under Scrutiny: https://www.big-fintech.com/Media?p=hold-onto-your-wallets-debit-interchange-under-scrutiny Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Follow Glen on X @154Advisors Follow John on X @jbfintech

Glen speaks with Doug Brown, President of Digital Banking for NCR Voyix, about the birth of a new public company, the importance of a 139-year legacy, and the continuation of a digital-first mission. Also- a debit interchange battle breaks out, and Glen gets academic.   Links related to this episode:   NCR Voyix: www.ncrvoyix.com Fed Debit: https://www.pymnts.com/news/payment-methods/2023/fed-will-float-reduced-debit-card-fees-for-merchants/  Georgia State University/Review of Financial Studies Fintech Conference: https://gsufintechconf.com/    Follow the Best Innovation Group on LinkedIn: https://www.linkedin.com/company/best-innovation-group/  Follow Glen on X @154Advisors Follow John on X @jbfintech