Fintech Confidential

In this episode of Accrued, Tedd Huff and Colton Pond sit down with Brian Barnes, the CEO and founder of M1. If you’ve ever wondered how to make your money work smarter for you, this episode is packed with insights. Brian shares how they combine investment tools with personal banking features to help clients manage their money better. The trio covers everything from building trust in the financial world to the decision to acquire a bank.M1 is not your typical financial company. It’s designed for modern investors who want to control their long-term wealth. Brian explains that M1 is about giving their clients the tools to invest, borrow, and spend wisely, all in one place. With over $8 billion in assets managed, it’s clear that many people trust M1 to help them grow their money.One of the cool things they discuss is how M1 enables clients use their investments as collateral for loans. This means you can borrow money at lower costs without selling your investments. This approach is usually reserved for the wealthy, but M1 makes it available to everyone, which is pretty amazing.Brian talks about the importance of building trust with customers. In the financial industry, trust is everything. M1 Finance focuses on delivering high-quality customer experiences and keeping their promises. This dedication to trust is part of why they decided to acquire a bank. Owning a bank allows them to offer even more value to their customers and integrate services seamlessly.They also dive into the challenges faced by FinTech companies. Starting and growing a company like M1 isn't easy. Brian shares some of the pain points they’ve encountered and how they’ve overcome them. It’s all about disciplined execution and creating value for customers over time. Brian explains how M1 plans and prioritizes its product development and how they are always looking for ways to improve and add new features that benefit their users. This includes everything from high-yield savings accounts to credit card rewards that can be automatically re-invested. The conversation also touches on the importance of modern infrastructure in financial services. Having up-to-date systems is crucial for providing real-time, efficient operations. Brian emphasizes that integrating new digital systems with old ones can be challenging, but it's necessary to maintain trust and reliability.Brian shares his vision for AI in personal finance. He believes that AI can help people make better financial decisions by providing personalized guidance and advice. Imagine having a digital assistant that helps you manage your money and plan for the future – that’s what M1 Finance aims to achieve.Throughout the episode, the guys highlight the fundamental elements of FinTech and financial services that remain constant. No matter how much technology changes, basic financial principles are key to long-term financial success.Brian's story with M1 is a testament to the power of a well-thought-out strategy and a customer-focused approach. By blending investment tools with personal banking features, M1 is making it easier for people to manage their money and grow their wealth. This episode of Accrued offers a great look at how M1 is changing the financial landscape. Whether you're interested in FinTech, personal finance, or just looking for ways to make your money work harder for you, there’s something here for everyone. Don’t miss this engaging and informative conversation with Brian Barnes. Remember to subscribe to Accrued for more episodes that dive into the world of finance and beyond. Keep exploring new ways to improve your financial health and stay ahead of the curve with Accrued.Key HighlightsWhy Trust is Key in FinTech: Insights from M1Building trust is crucial in the financial industry. Brian Barnes shares how M1 focuses on delivering consistent, high-quality experiences to earn and maintain customer trust over time.The Big Decision: Why Brian Acquired a BankDiscover the strategic reasons behind Brian’s decision to acquire a bank. He discusses how this move adds value for customers and integrates services more efficiently.Using Investments as Collateral: M1's Unique ApproachM1 allows you to use your investments as collateral for loans, providing flexibility and lower costs. Brian explains how this feature can benefit everyday users.Overcoming Challenges in FinTech: Lessons from M1Starting and growing a FinTech company isn’t easy. Brian shares the challenges M1 faced and the strategies they used to overcome them, focusing on disciplined execution and value creation.Planning the Future: M1’s Product RoadmapBrian outlines how M1 plans and prioritizes its product development. From high-yield savings accounts to automated investing tools, learn what’s next for the platform.The Role of Modern Tech in Financial ServicesEfficient operations require up-to-date systems. Brian talks about the importance of integrating new technology with existing systems to maintain reliability and customer trust.AI in Personal Finance: Brian Barnes’ VisionImagine having a personal financial assistant that helps you manage your money. Brian discusses how M1 plans to use AI to provide personalized financial guidance in the future.Basic Financial Principles: What Stays the Same in FinTechDespite all the changes in technology, some financial principles remain constant. Brian emphasizes the importance of saving, wise investing, and responsible debt management for long-term success.Building a Financial Platform for Everyone: M1’s ApproachM1 aims to provide the same financial tools available to the wealthy to everyone. Brian explains how M1 combines investment, borrowing, and spending features into one easy-to-use platform.Takeaways 1️⃣ The Secret to Lower Loan Costs!Learn how using your investments as collateral can reduce your loan costs. This strategy can save you money and help you manage your finances more effectively without selling your assets.2️⃣ How to Build Customer TrustDiscover the key to building trust with customers in the financial world. Consistently delivering high-quality experiences and keeping promises can help maintain long-term customer loyalty.3️⃣ Why Acquiring a Bank Can Be a Game-ChangerFind out why acquiring a bank can add significant value and streamline services. This move can integrate operations and provide better services for customers.4️⃣ Overcoming FinTech Challenges Like a ProStarting a FinTech company is tough, but overcoming challenges is possible. Focus on disciplined execution and creating value for customers to succeed in the competitive market.5️⃣ Planning for Success with a Product RoadmapA well-planned product roadmap is crucial for continuous improvement. Learn how prioritizing product development can keep your platform ahead and meet user needs effectively.Watch on YouTube. Links:M1Company: https://m1.com/LinkedIn: https://www.linkedin.com/company/m1-finance/Guest LinkedIn: https://www.linkedin.com/in/brian-barnes-m1/YouTube: https://www.youtube.com/@M1FinanceInstagram: https://www.instagram.com/m1_finance/Facebook: https://www.facebook.com/m1finance/Fintech ConfidentialPodcast: https://fintechconfidential.com/listenNotifications: https://fintechconfidential.com/accessLinkedIn: https://www.linkedin.com/company/fintechconfidentialInstagram: https://www.instagram.com/fintechconfidentialFacebook: https://www.facebook.com/fintechconfidentialSupportersLoanPro: As default rates continue to rise and margins compress in lending, financial organizations are searching for solutions that combine operational efficiency with innovation. Look no further, as LoanPro allows lenders to enhance their origination, servicing, collections, and payments using the foundation of a modern lending core. Check out loanpro.io/demo to learn how 600+ financial organizations have modernized their tech stack with LoanPro.CheckAlt: a game-changer in the financial world: ClearingWorks.Simplify your financial management with a one-stop solution for all your ARneeds and with a single login. Intrigued? Visithttps://clearingworks.com to schedule your demo today.MPC the Digital Commerce Event: Why MPC24? As a leader in thefintech space, whether you're a C-suite executive, a technologist, a startupinnovator, or a government official, MPC24 offers an unparalleled opportunityto engage with the latest trends, technologies and thought leaders shaping thefuture of money. Register now and Save https://mpcevent.com/register-now-payment/Skyflow, the leading data privacy platform trusted by topfinancial institutions. Protect your customers' data with Skyflow's innovativesolutions. Get started at www.skyflowsecure.comUnder: Transform Your Merchant Applications with Under. TheUnder platform revolutionizes the way ISOs handle merchant applications,offering a seamless transition to digital forms. Say goodbye to outdatedprocesses and hello to efficiency. Discover the future of financialapplications athttps://under.io/ftcHAWK: A game-changing approach to compliance. With real-timemonitoring, adaptive learning, and advanced AI, it cuts false positives,simplifying your compliance efforts. Upgrade your surveillance with ease. Visithttps://gethawkai.com for more intelligent, more effectivecompliance.Time Stamps:02:30 Introduction to Accrued Series03:28 Exploring M1 Finance's Unique Offerings07:37 M1 Finance's Mission and Vision09:29 Adapting to Market Changes12:08 Building Trust in FinTech14:02 Product Roadmap and Prioritization16:13 Vertical Integration and Partnerships22:03 Leveraging Investments for Loans23:37 Comparing Mortgages and Stock Portfolios23:58 M1's Approach to Collateralization24:28 Managing Variable Assets and Risks25:04 Benefits and Challenges of Stock Collateralization27:54 The Concept Behind M129:06 Modernizing Financial Infrastructure33:47 Building a Forever Home40:24 Timeless Financial Principles43:37 DisclaimerAbout:Brian Barnes: Brian Barnes is the CEO and founder of M1 Finance, an American financial services company established in 2015. M1 Finance offers a unique investment platform with brokerage accounts, digital checking accounts, and lines of credit. Brian's passion for finance and investment began early, leading him to create M1 Finance. By 2021, M1 had attracted significant investments totaling $315 million, raising its valuation to approximately $1.5 billion. Under Brian's leadership, M1 Finance has become a trusted platform for hundreds of thousands of investors, managing over $8 billion in assets. M1: M1 Finance is a fast-growing fintech company and personal finance platform designed for the modern era. With a mission to empower financial well-being, M1 offers a comprehensive suite of tools that allow users to invest, borrow, spend, and save in one seamless experience. Trusted by hundreds of thousands of investors, M1 Finance manages over $8 billion in assets. As the Finance Super App™, M1 provides high-yield savings, automated investing tools, paperwork-free margin loans, low-cost personal loans, and high cash-back credit card rewards that can be automatically re-invested. By combining the best of investment management and personal banking, M1 Finance is dedicated to helping individuals take control of their long-term wealth.Hosts:Tedd Huff: Tedd Huff is the Founder of Voalyre and DD3 Media, professional services and advisory firms focused on global payments and marketing. He is also a host and producer of Fintech Confidential.Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others, focusing on growth while delivering innovation, process improvements and user experience-driven value to simplify the complexity of payments.Colton Pond: Colton Pond is a seasoned marketing executive with a strong fintech and financial services background. In his latest role, Colton is the CMO for LoanPro's API-first lending platform, aiming to meet the increasing market demands. His track record includes a significant tenure at Truv, where he led the marketing team to achieve a 300% growth in year-over-year revenue. Colton has also held key marketing and sales positions at MX, Lucid, and HealthEquity, demonstrating his ability to drive success and innovation within the fintech sector.Diamond D3, Media: A media creation, management, and production company delivering engaging content globally

Join hosts Tedd Huff and Colton Pond in this episode of “Accrued” a Fintech Confidential series presented by LoanPro, where they chat with Tal Schwartz, a top fintech writer and advisor from Canada. Tal shares his expertise on the Canadian fintech market, covering a range of interesting topics.Tal talks about the differences between the Canadian and US fintech scenes. For example, Canada has unique regional differences, multiple languages, and different financial rules in each province. He explains how these factors make launching fintech products in Canada a bit tricky.One of the key points Tal discusses is the lack of a formal open banking system in Canada. While other markets have clear rules that encourage banks to share data, Canada is still catching up. However, there is hope that changes will come soon, which could boost innovation in the sector.Tal also highlights some exciting fintech companies in Canada, like Arbor and Yield Exchange. These companies are making waves with their fresh ideas and approaches. He mentions how business banking and B2B services are areas to watch for growth and new ideas.The episode also touches on the limited number of sponsor banks in Canada, which affects the growth of banking as a service. Tal explains how this limitation restricts competition and slows down progress.Mergers and acquisitions are another hot topic. Tal shares insights on recent big deals, like the merger between Fairstone and Home Trust, and Finance It’s acquisition of Simply Group. These moves are changing the landscape of financial services in Canada.For those looking to expand into Canada, Tal offers valuable advice. He suggests understanding regional differences, identifying underserved markets, and knowing the major players. He also discusses how Canadian fintechs can benefit from organizations like Export Development Canada and C100 when expanding into the US.Towards the end, the conversation shifts to future trends. Tal talks about the role of AI in fintech, particularly in customer service and underwriting. He notes the importance of regulation to prevent misleading marketing in this area.Overall, this episode provides a comprehensive look at the Canadian fintech landscape, highlighting challenges, opportunities, and key players. Whether you’re a fintech enthusiast or a professional in the industry, there’s plenty to learn from Tal’s insights.Don’t forget to subscribe, like, and visit fintechconfidential.com for more updates!Watch on YouTubeKey HighlightsDiscover the Surprising Challenges of Canadian FintechIn this episode, learn about the unique hurdles faced by fintech companies in Canada. From regional differences to language barriers, discover why launching fintech products in Canada can be more complicated than you might think.Open Banking: Why Canada is Falling BehindFind out why Canada struggles with open banking compared to other countries. Learn about the impact of not having clear rules and how it affects fintech growth in the country.Meet the Future Stars of Canadian FintechExplore some of the most exciting up-and-coming fintech companies in Canada. See why these businesses are set to become major players in the industry and what makes them stand out.The Hidden Impact of Limited Sponsor BanksLearn how the small number of sponsor banks in Canada is affecting the growth of fintech. Discover the challenges and what it means for competition in the industry.Big Changes in Canadian Fintech: Mergers and AcquisitionsGet the inside scoop on recent major mergers and acquisitions in the Canadian fintech world. Understand how these deals are reshaping the financial services landscape.The Growth of Business Banking in CanadaSee how business banking is evolving in Canada and why it's a hot area for fintech growth. Find out which companies are leading the way in this space.How Regulatory Delays Hurt Canadian FintechUnderstand the impact of slow regulatory changes on the Canadian fintech market. Learn why delays in policies like open banking are a big deal for the industry.AI's Role in Canadian FintechDiscover how AI is being used in Canada's fintech sector. From customer service to underwriting, see how artificial intelligence is changing the game.Why Canadian Fintechs Are Eyeing the US MarketFind out why many Canadian fintech companies are looking to expand into the US. Learn about the challenges and opportunities they face when crossing the border.Top Tips for Expanding into CanadaGet practical advice for fintech companies planning to enter the Canadian market. Learn about the key factors to consider and how to approach this unique market.Five Major Takeaways1️⃣ Understand Regional Differences Before LaunchingBefore entering the Canadian fintech market, it's crucial to understand the regional differences. Each province has its own regulations and financial infrastructure. Tailor your strategy to these local specifics for a better chance of success.2️⃣ Prepare for Language BarriersIn Canada, multiple languages are spoken, with French being dominant in Quebec. Ensure your fintech product and marketing materials are available in both English and French to reach a broader audience and comply with local laws.3️⃣ Focus on Business Banking OpportunitiesBusiness banking is a growing sector in Canadian fintech. Consider developing products and services that cater to B2B financial needs. This area shows a lot of potential for growth and can set your company apart.4️⃣ Monitor Regulatory ChangesStay updated on regulatory changes in the Canadian fintech market. Rules around open banking and interest rate caps can have significant impacts on your business. Keeping an eye on these changes helps you adapt quickly and stay compliant.5️⃣ Leverage AI for Better Customer ServiceArtificial intelligence is becoming an important tool in Canadian fintech. Use AI to improve customer service, underwriting, and collections. This technology can help you provide a better user experience and streamline your operations.Links:Canadian Fintech NewsletterWebsite: https://canadianfintech.substack.com/aboutLinkedIn: https://www.linkedin.com/in/talbschwartz/Fintech Confidential YouTube: https://fintechconfidential.com/watch Podcast: https://fintechconfidential.com/listen Notifications: https://fintechconfidential.com/accessLinkedIn: https://www.linkedin.com/company/fintechconfidentialTwitter: https://twitter.com/FTconfidential Instagram: https://www.instagram.com/fintechconfidential Facebook: https://www.facebook.com/fintechconfidentialSupportersLoanPro: As default rates continue to rise and margins compress in lending, financial organizations are searching for solutions that combine operational efficiency with innovation. Look no further, as LoanPro allows lenders to enhance their origination, servicing, collections, and payments using the foundation of a modern lending core. Check out loanpro.io/demo to learn how 600+ financial organizations have modernized their tech stack with LoanPro.CheckAlt: a game-changer in the financial world: ClearingWorks. Simplify your financial management with a one-stop solution for all your AR needs and with a single login. Intrigued? Visit https://clearingworks.com to schedule your demo today.MPC the Digital Commerce Event: Why MPC24? As a leader in the fintech space, whether you're a C-suite executive, a technologist, a startup innovator, or a government official, MPC24 offers an unparalleled opportunity to engage with the latest trends, technologies and thought leaders shaping the future of money. Register now and Save https://mpcevent.com/register-now-payment/Skyflow, the leading data privacy platform trusted by top financial institutions. Protect your customers' data with Skyflow's innovative solutions. Get started at www.skyflowsecure.comUnder: Transform Your Merchant Applications with Under. The Under platform revolutionizes the way ISOs handle merchant applications, offering a seamless transition to digital forms. Say goodbye to outdated processes and hello to efficiency. Discover the future of financial applications at https://under.io/ftcHAWK:AI - A game-changing approach to compliance. With real-time monitoring, adaptive learning, and advanced AI, it cuts false positives, simplifying your compliance efforts. Upgrade your surveillance with ease. Visit https://gethawkai.com for more intelligent, more effective compliance.Time Stamps:00:11 Meet Tal Schwartz: Canada's Fintech Expert00:11 Meet Tal Schwartz01:27 AI in Financial Services02:57 Deep Dive into Canadian Fintech with Tal Schwartz03:31 Tal Schwartz's Background and Contributions04:59 Challenges in Canadian FinTech06:13 The Complexity of Canadian Financial Regulations08:22 Innovative Trends in Canadian FinTech09:08 Spotlight on Emerging Canadian Fintechs10:06 Growth Dynamics in Canadian FinTech11:27 Challenges in Sponsor Banking15:48 Clearingworks.com16:35 Open Banking and Regulatory Landscape in Canada19:51 Investment Climate in Canadian FinTech21:19 Mergers and Acquisitions in Canadian Fintech27:33 Expanding Fintech from Canada to the U.S.35:39 Future Trends and AI in FinTech37:50 AI in Canadian Financial Services40:57 Disclaimer and Final ThoughtsThis is a Production of Diamond D3, Media ABOUT: Tal Schwartz: Tal Schwartz is the founder of Canadian Fintech and a leading authority in the Canadian financial technology sector. With extensive experience advising Canadian regulators, banks, and fintech companies on financial products and policy, Schwartz brings a wealth of knowledge and insight to the industry. Currently, he serves as a Senior Product Manager at Nomis and previously held the position of Head of Policy and Research for the Canadian Lenders Association.In addition to his professional endeavors, Schwartz is the author of the widely-read Canadian Fintech newsletter, which offers deep analysis and timely updates on the industry. He is also committed to community service, serving as Chairman of Mount Sinai Hospital's 'Future Sinai' Board and sitting on the board of ACCESS Community Capital Fund, where he aids in providing low-interest loans to new immigrants. A graduate of McGill University, Schwartz is an OnDeck Fellow and a recipient of the prestigious World Summit Award.Canadian FIntech: Canadian Fintech is a leading source of timely and insightful information on the Canadian financial technology landscape. With over 8,000 subscribers, we are the go-to resource for anyone interested in the latest developments in fintech across Canada. We provide comprehensive coverage of which Canadian fintech companies are raising funds, launching innovative products, and acquiring competitors, ensuring our readers stay informed about the most important industry movements.Our content is designed to be quick and digestible. In less than three minutes, readers can get a clear understanding of the major themes and trends in Canadian lending, payments, banking, and insurance. Additionally, we offer straightforward answers to complex questions about Canadian fintech, making intricate topics accessible and easy to understand.Hosts: Tedd Huff: Tedd Huff is the Founder of Voalyre and DD3 Media, professional services and advisory firms focused on global payments and marketing. He is also a host and producer of Fintech Confidential.Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others, focusing on growth while delivering innovation, process improvements and user experience-driven value to simplify the complexity of payments.Colton Pond: Colton Pond is a seasoned marketing executive with a strong fintech and financial services background. In his latest role, Colton is the CMO for LoanPro's API-first lending platform, aiming to meet the increasing market demands. His track record includes a significant tenure at Truv, where he led the marketing team to achieve a 300% growth in year-over-year revenue. Colton has also held key marketing and sales positions at MX, Lucid, and HealthEquity, demonstrating his ability to drive success and innovation within the fintech sector.Diamond D3, Media: A media creation, management, and production company delivering engaging content globally

In this episode of Fintech Confidential, host Tedd Huff sits down with Lynn Dufrane, the Executive Director of Sales at CheckAlt. They explore the unique partnership between fintech companies and traditional financial institutions, highlighting how these collaborations are changing the landscape of financial services. Lynn explains how her experience as a banker helps her understand both sides of the industry, making her a valuable asset at CheckAlt.One surprising topic they discuss is the enduring relevance of paper checks. Despite the rise of electronic payments, businesses wrote more checks in 2023 than in 2022. Lynn shares how CheckAlt is at the forefront of processing these payments efficiently while also offering new electronic solutions.They also talk about the growing opportunities in the healthcare sector for financial services. Lynn believes that both fintechs and banks should pay more attention to this field as it presents numerous opportunities for growth.The conversation shifts to how financial institutions can benefit from outsourcing tasks like lockbox processing to focus on more revenue-generating activities. Lynn provides examples of how CheckAlt helps banks and other businesses manage their payment processes smoothly.Another key point is the importance of seeing fintech companies as partners, not threats. Lynn emphasizes that successful companies are those that can collaborate and adapt quickly to new challenges.To sum up, this episode provides valuable insights into the current trends in financial services, the surprising persistence of paper checks, and the benefits of collaboration between fintechs and traditional financial institutions.Watch the entire episode on YouTube to get more insights from Lynn Dufrane on how CheckAlt is helping shape the future of payments.Key HighlightsYou Won’t Believe How Relevant Paper Checks Still Are!Discover why paper checks are far from dead. In fact, businesses wrote more checks last year than the year before. Find out why checks remain an important part of today’s payment methods.The Unexpected Partner: Fintechs and Banks Working TogetherLearn how fintech companies and traditional banks are becoming partners instead of competitors. This partnership is changing the way financial services are offered and improving customer experiences.Healthcare’s Hidden Goldmine for Financial ServicesExplore why the healthcare sector is a top opportunity for financial services. Banks and fintech companies can find great potential here, with a growing need for efficient payment solutions.Why Outsourcing Lockbox Processing Makes SenseUnderstand the benefits of outsourcing tasks like lockbox processing. This allows financial institutions to focus on more profitable activities and improves overall efficiency.The Real Reason Paper Checks Aren’t Going AnywhereDespite the rise of electronic payments, paper checks are still widely used. Learn why checks are here to stay and how they fit into the modern payment landscape.How Fintechs Are Helping to Fight Check FraudCheck fraud is a major concern for financial institutions. Find out how fintech companies are developing solutions to detect and prevent fraud, making transactions safer for everyone.A Fresh Look at Payment Processing ChallengesGet insights into the common challenges faced by financial institutions when it comes to payment processing. Learn how new approaches and technologies are helping to overcome these obstacles.The Importance of Being Able to Pivot in BusinessFlexibility and the ability to change direction quickly are key to long-term success. See why being able to pivot is crucial for companies in the fast-paced world of financial services.Why Online Payments Are a Must for Businesses TodayWith more people preferring to pay online, having a strong online payment system is essential. Discover how businesses are adapting to meet this demand and what it means for their success.The Secret to Building Strong Partnerships in FintechStrong partnerships between fintech companies and traditional financial institutions are vital. Learn the secrets to building these relationships and why they matter for future growth.Takeways 1️⃣ Think of Fintechs as Partners, Not EnemiesInstead of seeing fintech companies as rivals, start viewing them as potential partners. By working together, both sides can offer better services and improve customer satisfaction. This mindset shift can open up new opportunities and help your business grow.2️⃣ Invest in Comprehensive Payment SolutionsTo stay ahead, it’s crucial to offer a range of payment solutions, including both traditional and electronic methods. Providing a variety of options can attract more customers and meet their diverse needs, ensuring you’re not left behind in the fast-paced financial world.3️⃣ Explore the Healthcare SectorThe healthcare sector is a goldmine for financial services. With an increasing need for efficient payment systems, diving into this field can lead to significant growth. Look for ways to offer tailored solutions to healthcare providers and their patients.4️⃣ Focus on Lockbox Processing OutsourcingOutsourcing lockbox processing can free up valuable resources and allow your team to focus on more profitable activities. This move can improve efficiency and help your business stay competitive by reducing the burden of routine tasks.5️⃣ Prioritize Fraud Detection and PreventionCheck fraud remains a big issue, so it’s essential to invest in advanced fraud detection and prevention tools. By staying ahead of fraudsters, you can protect your customers’ money and build trust in your financial services.WATCH NOW on YouTube. Links:CheckAltWebsite: https://checkalt.comLinkedIn: https://www.linkedin.com/company/checkaltTwitter: https://twitter.com/checkaltYouTube: https://www.youtube.com/user/checkaltLinkedIn Lynne Dufrane: https://www.linkedin.com/in/lynn-dufrane-093a2534/Fintech Confidential YouTube: https://fintechconfidential.com/watch Podcast: https://fintechconfidential.com/listen Notifications: https://fintechconfidential.com/accessLinkedIn: https://www.linkedin.com/company/fintechconfidentialTwitter: https://twitter.com/FTconfidential Instagram: https://www.instagram.com/fintechconfidential Facebook: https://www.facebook.com/fintechconfidentialSupportersCheckAlt: a game-changer in the financial world: ClearingWorks. Simplify your financial management with a one-stop solution for all your AR needs and with a single login. Intrigued? Visit https://clearingworks.com to schedule your demo todayMPC the Digital Commerce Event: Why MPC24? As a leader in the fintech space, whether you're a C-suite executive, a technologist, a startup innovator, or a government official, MPC24 offers an unparalleled opportunity to engage with the latest trends, technologies and thought leaders shaping the future of money. Register now and Save https://mpcevent.com/register-now-payment/Under: Transform Your Merchant Applications with Under. The Under platform revolutionizes the way ISOs handle merchant applications, offering a seamless transition to digital forms. Say goodbye to outdated processes and hello to efficiency. Discover the future of financial applications at https://under.io/ftcHAWK:AI - A game-changing approach to compliance. With real-time monitoring, adaptive learning, and advanced AI, it cuts false positives, simplifying your compliance efforts. Upgrade your surveillance with ease. Visit https://gethawkai.com for more intelligent, more effective compliance.LoanPro: As default rates continue to rise and margins compress in lending, financial organizations are searching for solutions that combine operational efficiency with innovation. Look no further, as LoanPro allows lenders to enhance their origination, servicing, collections, and payments using the foundation of a modern lending core. Check out loanpro.io/demo to learn how 600+ financial organizations have modernized their tech stack with LoanPro.Solvpath, an A.I.-driven customer support system that uses a visual format and self-serve technology to quickly and effectively resolve issues, resulting in satisfying support experiences for customers. Get the best customer support system for your business. Get Solvpath. Get started by visiting www.getsolvpath.com Time Stamps:00:00 Introduction to FinTech Confidential00:02 Meet Lynn Dufrane from CheckAlt00:10 The Evolution of Payments00:36 Checks: The Surprising Comeback00:48 Exploring New Business Verticals00:53 The Healthcare Space Opportunity01:08 FinTechs as Partners, Not Threats01:18 CheckAlt's Impressive Stats01:30 Introduction to Today's Episode02:11 Journey in FinTech02:30 Spotlight on Clearing Works02:50 Lynn's Career Path04:00 Bridging Traditional Banking and FinTech05:02 The Resilience of Paper Checks05:20 Innovations in Check Processing08:33 Opportunities in Lockbox Processing12:58 Partnerships Beyond Financial Institutions17:27 Advice for FinTech Founders18:53 The Importance of Collaboration and Pivoting28:35 Conclusion and Final ThoughtsThis is a Production of Diamond D3, Media ABOUT: Lynn Dufrane: Lynn Dufrane is a seasoned professional with over 30 years of experience in the banking and payments industry. Currently, she serves as the Executive Director of Sales at CheckAlt, where she drives innovation and growth. Her career includes significant roles at Visa, Fiserv, and Elan Financial Services, highlighting her expertise in developing effective Debit Card and ATM strategies that boost institutional revenue.CheckAlt : CheckAlt is the largest independent provider of receivables management and payment and deposit processing solutions in the U.S., serving more than 1,000 clients across a broad range of industries, including financial institutions of all sizes, property management, healthcare, utilities, municipalities, and nonprofits. Operating as payment channel and demographic agnostic, CheckAlt processes check payments while also supporting electronic payment needs that are accelerating digital transformation. CheckAlt's solutions include lockbox processing across a nationwide hub-and-spoke network of processing sites, consolidated item processing, integrated treasury solutions, and mobile capture services. Learn more at https://www.checkalt.com.Tedd Huff: Tedd Huff is the Co-Founder of Voalyre, and the President & Founder of Diamond D3, a professional services consulting firm focused on global payments and marketing. He is also a video podcast host and producer of Fintech Confidential.Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others, focusing on growth while delivering innovation, process improvements and user experience-driven value to simplify the complexity of payments.Diamond D3, Media: A media creation, management, and production company delivering engaging content globally

In this episode of Accrued, hosts Tedd Huff and Colton Pond chat with Scott Johnson, the Senior VP of Business Development at Galileo Financial Technologies. Scott shares his experiences and insights from his 20 years at Galileo, a leading FinTech platform owned by SoFi Technologies. They discuss how Galileo powers major players like Chime and Monzo, and the challenges and opportunities in the FinTech industry.Scott tells a funny story from Galileo's early days when the company almost had a disaster during a visit from MasterCard due to a water leak. He also talks about the company's decision to publish APIs over a decade ago, which was a bold move at the time and helped them grow significantly.The conversation covers Galileo's role in the FinTech landscape, focusing on their expansion into Latin America and the importance of modernizing banking infrastructure. Scott highlights how Galileo's technology supports over 151 million accounts and how their products help banks and FinTech companies offer better services.They also discuss the impact of AI and machine learning in finance, particularly in personalization and fraud prevention. Scott mentions Galileo's AI chatbot, Connecta, and their payment risk platform, which helps reduce fraud and save costs for their clients.Another key topic is the importance of long-term partnerships and a consultative approach in FinTech. Scott emphasizes how Galileo supports its clients to navigate challenges and achieve sustainable growth.Finally, they touch on the acquisition of Galileo by SoFi and how it has opened new opportunities for the company. Scott shares insights on international expansion, especially the unique challenges and considerations when entering new markets like Latin America.This episode is packed with valuable insights for anyone interested in the future of FinTech, the role of AI, and the importance of modern banking technology. Whether you're a FinTech enthusiast or just curious about how technology is changing finance, this conversation with Scott Johnson offers a lot to learn.Key HighlightsThe Secret to Galileo's Success: Early Challenges and Big WinsDiscover how a tiny office with just four server racks faced a major water leak during a critical MasterCard tour and how quick thinking turned a potential disaster into a memorable moment in Galileo's early days.APIs: The Game-Changer for FinTechLearn about the bold decision to publish APIs over a decade ago, a move that attracted a range of companies with unique use cases, helping shape the future of FinTech.Navigating the 2008 Financial CrisisFind out how Galileo managed to survive the 2008 financial crisis by betting on long-term partnerships and supporting companies with great product offerings, even delaying invoicing to keep them afloat.Expanding into Latin America: Key ConsiderationsUnderstand the strategic move to expand into Latin America, the challenges faced, and the economic viability of entering different markets with tailored financial solutions.Personalized Finance: AI and Machine Learning at WorkExplore how AI and machine learning are used to deliver highly personalized financial experiences, from chatbots sensing frustration to advanced payment risk platforms reducing fraud.The Power of Modern Banking CoresSee why modernizing banking cores is crucial for offering innovative products and services, and how legacy systems are holding back financial institutions from competing effectively.Boots on the Ground: Successful International ExpansionLearn why having employees in local markets is essential for successful international expansion and how Galileo ensures they are truly committed to new regions.Unique Financial Products: Buy Now, Pay Later OptionsDiscover Galileo's cool "buy now, pay later" feature that allows users to turn past purchases into installment payments, offering flexibility and control over their finances.Tailored Card Controls for TeensCheck out how Galileo enables parents to set specific spending limits for their teens, such as allowing purchases only at certain stores, ensuring safety and control.The Importance of Adaptability in AcquisitionsGet insights into how Galileo's acquisition by SoFi provided new opportunities and the key role of adaptability in making acquisitions successful and beneficial for both parties.Takeaways (five takeaways) 🚀 1️⃣ Learn How to Handle Crises with Quick Thinking!Facing unexpected problems? Quick thinking can turn potential disasters into success stories. A fast response to challenges, like a sudden water leak, can save the day and even impress important clients.💡 2️⃣ API Publishing: A Bold Move That Pays Off Big!Publishing APIs can attract a diverse range of clients with unique needs. This strategic decision opens up new opportunities and helps in growing your business by meeting various market demands.🌍 3️⃣ The Secret to Successful International Expansion!Thinking of going global? Ensure you have local presence and employees on the ground to truly commit to new markets. This strategy helps in understanding and adapting to regional needs effectively.🤖 4️⃣ Enhance Security with AI-Driven Fraud Prevention!AI and machine learning can drastically reduce fraud. Implementing advanced risk platforms that analyze spending patterns and behaviors can protect your business and save costs by preventing fraudulent activities.🔍 5️⃣ Customize Financial Products for Better User Control!Offering customizable financial products, like post-purchase installment options, can provide users with more control over their spending. This flexibility meets customer needs and enhances their financial experience.Links: Guest's Company: www.galileo-ft.comGuest's LinkedIn: www.linkedin.com/company/galileo-financial-technologiesLinkedIn: www.linkedin.com/company/galileo-financial-technologiesFintech ConfidentialYouTube: https://fintechconfidential.com/watchPodcast: https://fintechconfidential.com/listenNotifications: https://fintechconfidential.com/accessLinkedIn: https://www.linkedin.com/company/fintechconfidentialTwitter: https://twitter.com/FTconfidentialInstagram: https://www.instagram.com/fintechconfidentialFacebook: https://www.facebook.com/fintechconfidentialTimestamps:02:52 Welcome to Accrued: Unraveling the World of LendTech07:25 Meet Scott Johnson: The Legend Behind Galileo's Success07:54 The Day Galileo Almost Flooded09:30 Decoding Galileo's Growth: From Start-Up to FinTech Powerhouse13:26 The Evolution of FinTech: A 20-Year Journey with Scott Johnson19:33 The Future of Banking: Modern Cores and Global Expansion27:54 Latin America's FinTech Revolution: A Beacon for Global Banking31:27 Hyper Growth in Cashless Transactions: A Global Perspective32:25 The Strategic Move: Galileo's Expansion into Latin America32:57 Navigating International Expansion: Insights and Challenges36:03 Innovative Financial Solutions: From Credit Products to Payment Systems38:11 Personalization in FinTech: How Galileo Powers Unique Customer Experiences49:12 The Future of Banking: AI, Machine Learning, and Beyond52:53 Acquisition Insights: Galileo's Journey with SoFi55:19 Wrapping Up: The Future of FinTech and Personalization55:45 Disclaimer and Final ThoughtsSupportersCheckAlt: a game-changer in the financial world: ClearingWorks. Simplify your financial management with a one-stop solution for all your AR needs and with a single login. Intrigued? Visit https://clearingworks.com to schedule your demo today.MPC the Digital Commerce Event: Why MPC24? As a leader in the fintech space, whether you're a C-suite executive, a technologist, a startup innovator, or a government official, MPC24 offers an unparalleled opportunity to engage with the latest trends, technologies and thought leaders shaping the future of money. Register now and Save https://mpcevent.com/register-now-payment/Under: Transform Your Merchant Applications with Under. The Under platform revolutionizes the way ISOs handle merchant applications, offering a seamless transition to digital forms. Say goodbye to outdated processes and hello to efficiency. Discover the future of financial applications at https://under.io/ftcHAWK:AI - A game-changing approach to compliance. With real-time monitoring, adaptive learning, and advanced AI, it cuts false positives, simplifying your compliance efforts. Upgrade your surveillance with ease. Visit https://gethawkai.com for more intelligent, more effective compliance.LoanPro: As default rates continue to rise and margins compress in lending, financial organizations are searching for solutions that combine operational efficiency with innovation. Look no further, as LoanPro allows lenders to enhance their origination, servicing, collections, and payments using the foundation of a modern lending core. Check out loanpro.io/demo to learn how 600+ financial organizations have modernized their tech stack with LoanPro.About:Guest Scott Johnson: Scott Johnson is responsible for expanding Galileo’s client relationships and scaling partnerships and business development functions for additional growth. Johnson has led Galileo’s growth strategy and expanded its payments product offerings to include debit, credit, commercial, virtual, cryptocurrency, multicurrency, and a number of hybrid and custom solutions. Prior to joining Galileo, Johnson worked in product management at American Express and GE Consumer Finance and built internet software at Sybase, which was later acquired by SAP. Johnson graduated from the University of Utah School of Business.Galileo Financial Technologies LLC: Galileo Financial Technologies LLC is a financial technology company that enables fintechs, banks, emerging and established brands to build differentiated financial solutions that deliver exceptional customer-centric experiences. Through modern open APIs, Galileo’s flexible, secure, scalable, and fully integrated platform drives progress across payments and financial services. Trusted by digital banking heavyweights, early-stage innovators, and enterprise clients alike, Galileo supports issuing physical and virtual payment cards, mobile push provisioning, tailored and differentiated financial products, and more across industries and geographies.Hosts: Tedd Huff: Tedd Huff is the Founder of Voalyre and DD3 Media, professional services and advisory firms focused on global payments and marketing. He is also a video podcast host and producer of Fintech Confidential.Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others, focusing on growth while delivering innovation, process improvements and user experience-driven value to simplify the complexity of payments.Colton Pond: Colton Pond is a seasoned marketing executive with a strong fintech and financial services background. In his latest role, Colton is the CMO for LoanPro's API-first lending platform, aiming to meet the increasing market demands. His track record includes a significant tenure at Truv, where he led the marketing team to achieve a 300% growth in year-over-year revenue. Colton has also held key marketing and sales positions at MX, Lucid, and HealthEquity, demonstrating his ability to drive success and innovation within the fintech sector.Diamond D3, Media: A media creation, management, and production company delivering engaging content globally

In this episode of Accrued, a Fintech Confidential series presented by LoanPro. Host Tedd Huff and Co-Host Nate Bray sit down with Anthony Peculic, Head of Cards and BaaS at Cross River Bank, to discuss the shifting dynamics of the Fintech world. They chat about the hurdles and prospects current banks face, along with the future of financial services that are integrated directly into everyday tools and applications. This discussion also covers how laws and regulations affect fintech companies and the importance of banks working closely with them to ensure regulatory standards are met.The trio goes into detail about how banks are adapting to changes in interest rates and customer habits, underlining the need for banks to collaborate rather than just sell services. They also talk about Cross River's unique operating system (COS), designed to tackle these challenges and offer creative solutions that make handling finance easier for businesses and consumers alike.Throughout the conversation, the importance of data and artificial intelligence is emphasized, showcasing how these tools help tailor financial solutions to individual needs, making them more useful and effective. The episode wraps up with insights on how financial institutions are increasingly relying on technology to stay relevant and helpful to their customers.By the end, viewers will gain a deeper understanding of how finance is becoming more integrated with technology and what this means for the future of banking and customer interactions. This is a must-watch for anyone interested in the development of banking and finance management technology.Key Highlights:How regulations are shaping the finance sector and what that means for the future.The significant role open communication plays in adapting to new rules.Why understanding changes in interest rates is essential for managing financial strategies.The evolving role of banks from mere service providers to active partners in financial innovation.The critical impact of technology on improving banking services and customer interactions.How banks are shifting strategies to better support and understand consumer needs.The benefits of incorporating artificial intelligence to customize financial experiences.The flexibility of new banking systems that allow for more robust support and integration.The growing importance of data in crafting personalized banking solutions.Predictions on how the interaction between brands and financial services will continue to evolve, creating a more connected experience.Top Five Takeaways:1️⃣ Regulations Unveiled: Stay Ahead of the Game!Anyone in the finance sector must stay informed about regulatory changes. Understanding these changes can help you adapt your strategies to remain compliant and effective. 2️⃣ Open Doors with Regulators: Communication is Key!Keeping an open line of communication with regulators can significantly ease navigating new financial landscapes. This proactive approach helps ensure that your operations align with current laws.3️⃣ Tech in Finance: The New Frontier!Recognizing the importance of technological advancements in banking can give you a competitive edge. Technologies that enhance customer interaction and streamline operations are key to future success.4️⃣ Master Your Data: AI is Your New Best Friend!Investing in data analysis and artificial intelligence can lead to more tailored financial products and services. These technologies help understand and predict customer behaviors, improving service delivery.5️⃣ Tech-Savvy Banking: Embrace the Future Now!Embracing the shift towards technology-driven finance solutions is crucial. As technology becomes more integrated into everyday finance, understanding and utilizing these tools can enhance your financial offerings and customer satisfaction.Watch on YouTube. Links:CrossRiver BankWebsite: www.crossriver.comYouTube: www.youtube.com/channel/UCaphFGxBY35U8psNjDOP-rgLinkedIn: www.linkedin.com/company/cross-river-bank/Anthony's LinkedIn: www.linkedin.com/in/apeculic Instagram: www.instagram.com/crossriver_/?hl=enFacebook: www.facebook.com/crossriverbanksocial/Fintech Confidential YouTube: https://fintechconfidential.com/watch Podcast: https://fintechconfidential.com/listen Notifications: https://fintechconfidential.com/accessLinkedIn: https://www.linkedin.com/company/fintechconfidentialTwitter: https://twitter.com/FTconfidential Instagram: https://www.instagram.com/fintechconfidential Facebook: https://www.facebook.com/fintechconfidentialSupporters:CheckAlt: a game-changer in the financial world: ClearingWorks. Simplify your financial management with a one-stop solution for all your AR needs and with a single login. Intrigued? Visit https://clearingworks.com to schedule your demo today.MPC the Digital Commerce Event: Why MPC24? As a leader in the fintech space, whether you're a C-suite executive, a technologist, a startup innovator, or a government official, MPC24 offers an unparalleled opportunity to engage with the latest trends, technologies and thought leaders shaping the future of money. Register now and Save https://mpcevent.com/register-now-payment/Under: Transform Your Merchant Applications with Under. The Under platform revolutionizes the way ISOs handle merchant applications, offering a seamless transition to digital forms. Say goodbye to outdated processes and hello to efficiency. Discover the future of financial applications at https://under.io/ftcHAWK:AI - A game-changing approach to compliance. With real-time monitoring, adaptive learning, and advanced AI, it cuts false positives, simplifying your compliance efforts. Upgrade your surveillance with ease. Visit https://gethawkai.com for more intelligent, more effective compliance.LoanPro: As default rates continue to rise and margins compress in lending, financial organizations are searching for solutions that combine operational efficiency with innovation. Look no further, as LoanPro allows lenders to enhance their origination, servicing, collections, and payments using the foundation of a modern lending core. Check out loanpro.io/demo to learn how 600+ financial organizations have modernized their tech stack with LoanPro.Time Stamps:[insert timestamps from transcript]This is a Production of Diamond D3, Media ABOUT: Guest Anthony Peculic: Anthony Peculic is a business and strategy leader with a proven track record in envisioning, building, and launching new products within highly regulated industries. He has extensive experience across FinTech, payments, entertainment, and HCM sectors. Known for his strong analytical, strategic planning, negotiation, and presentation skills, Anthony excels in leading cross-functional teams, driving revenue growth, and increasing client satisfaction.Cross River Bank: Cross River Bank combines the trust and security of traditional banking with advanced technology solutions, redefining the industry. The company provides scalable embedded payments, cards, and lending solutions to consumers and businesses backed by leading investors. It serves major fintech and technology companies, reshaping global finance and financial inclusion.Hosts Tedd Huff: Tedd Huff founded Voalyre and DD3 Media, a professional services and advisory firm focused on global payments and marketing. He is also a video podcast host and producer of Fintech Confidential.Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others. He focuses on growth while delivering innovation, process improvements, and user experience-driven value to simplify the complexity of payments.Nate Bray: Nate Bray is the Chief Innovation Officer at LoanPro, where he spearheads innovation and expands strategic partnerships. With over 20 years of experience, Nate has held pivotal roles, including Vice President of Strategic Partnerships at MX and Senior Vice President at Wells Fargo, focusing on fintech and enterprise initiatives. As the co-founder and CEO of Brixio, he led the company's vision in commercial real estate technology.Diamond D3, Media: A media creation, management, and production company delivering engaging content globally

In this episode of "Accrued," brought to you by LoanPro, hosts Tedd Huff and Colton Pond chat with Joyce Mehlman from ILX Consulting Group. Joyce shares her expertise in the financial services industry, focusing on the significant role that data and artificial intelligence play in finance today. She touches on the critical need for fintech companies to comply with existing regulations to succeed and the benefits of forming the right partnerships.Joyce discusses the importance of selecting partners that offer flexibility and foster creativity rather than those who might hinder innovation. She explains that working with the right people can make or break a company's progress in the finance sector. The episode also covers the current trends in the lending and credit industries, such as the rise of specialized credit programs tailored to individual needs and the growing importance of personalizing financial services to better meet customer demands.Moreover, Joyce emphasizes how essential it is for fintech startups to focus on securing funding and enhancing their marketing strategies, while relying on established tools and services for other business aspects. This helps in streamlining operations and cutting down on unnecessary expenses.The discussion also highlights the increasing influence of real-time payment systems and open banking, which are setting new standards in the financial world. Joyce wraps up the conversation by stressing the need for continuous education and the integration of supportive partnerships to innovate and improve credit offerings effectively. This episode is a must-watch for anyone interested in the future of banking and finance.Key Highlights: "Watch Joyce Mehlman Reveal Fintech Secrets!"Joyce Mehlman shares how fintech companies can thrive by using current tools rather than creating new ones, saving both time and money."The Real Story Behind Bank and Fintech Partnerships"Discover how collaborations between banks and fintech companies are crucial for success, and what makes a partnership effective."Do You Know the Risks of Choosing the Wrong Tech Partner?"Joyce discusses the risks of selecting tech partners that might stifle creativity and how the right ones can fuel success."Essential Advice for Fintech Startups!"Key strategies for fintech startups on focusing their resources effectively to ensure growth and sustainability."Trends Shaping the Credit Industry Right Now!"Explore the rise of niche credit programs and why personalizing these programs to customer needs is becoming more important."Joyce Mehlman Breaks Down AI’s Role in Fintech!"Find out how artificial intelligence is currently used in the financial sector and its growing impact."How to Succeed in Fintech by Understanding Regulations"Joyce emphasizes the importance of staying compliant with financial regulations and how it helps in fintech success."Secrets to Raising Capital and Marketing in Fintech"Expert tips from Joyce Mehlman on how fintech companies can boost their capital and improve their marketing tactics."Future of Payments: Real-Time Transactions Explained!"Joyce explains how real-time payment systems are changing the way businesses and customers interact."The Future of Financial Programs: What You Need to Know!"Insights into the development of innovative financial programs and the importance of integrating educational and partnership resources.Takeaways:1️⃣ "Why Your Fintech Needs Compliance to Thrive!"Compliance isn't just a hurdle; it's a necessity. Joyce Mehlman explains how following regulations can actually help fintechs grow and avoid legal troubles.2️⃣ "Fintech Partnerships: The Good, The Bad, The Ugly!"Find out what qualities make a great tech partner and which red flags could spell trouble for your fintech's future.3️⃣ "Unlock the Secrets to Efficient Fintech Operations!"Joyce breaks down why buying existing tools rather than building from scratch saves time and money, streamlining operations for better efficiency.4️⃣ "Discover the Financial Trends That Matter Today!"Dive into the discussion on how AI and open banking are influencing the current financial landscape, according to fintech expert Joyce Mehlman.5️⃣ "Build or Buy? The Best Strategy for Fintech Tools Revealed!"Joyce shares crucial advice on when fintechs should invest in new technology versus utilizing existing solutions, aiding strategic decision-making.Watch on YouTube. Links:iLexWebsite: Linkedin: Facebook: Instagram:Twitter: Youtube: Fintech Confidential YouTube: https://fintechconfidential.com/watch Podcast: https://fintechconfidential.com/listen Notifications: https://fintechconfidential.com/accessLinkedIn: https://www.linkedin.com/company/fintechconfidentialTwitter: https://twitter.com/FTconfidential Instagram: https://www.instagram.com/fintechconfidential Facebook: https://www.facebook.com/fintechconfidentialSupportersLoanPro: As default rates continue to rise and margins compress in lending, financial organizations are searching for solutions that combine operational efficiency with innovation. Look no further, as LoanPro allows lenders to enhance their origination, servicing, collections, and payments using the foundation of a modern lending core. Check out loanpro.io/demo to learn how 600+ financial organizations have modernized their tech stack with LoanPro.CheckAlt: a game-changer in the financial world: ClearingWorks. Simplify your financial management with a one-stop solution for all your AR needs and with a single login. Intrigued? Visit https://clearingworks.com to schedule your demo todayMPC the Digital Commerce Event: Why MPC24? As a leader in the fintech space, whether you're a C-suite executive, a technologist, a startup innovator, or a government official, MPC24 offers an unparalleled opportunity to engage with the latest trends, technologies and thought leaders shaping the future of money. Register now and Save https://mpcevent.com/register-now-payment/HAWK:AI - A game-changing approach to compliance. With real-time monitoring, adaptive learning, and advanced AI, it cuts false positives, simplifying your compliance efforts. Upgrade your surveillance with ease. Visit https://gethawkai.com for more intelligent, more effective compliance.Solvpath, an A.I.-driven customer support system that uses a visual format and self-serve technology to quickly and effectively resolve issues, resulting in satisfying support experiences for customers. Get the best customer support system for your business. Get Solvpath. Get started by visiting www.getsolvpath.comSkyflow, is the leading data privacy platform trusted by top financial institutions. Protect your customers' data with Skyflow's innovative solutions www.skyflowsecure.comTime Stamps:00:14 The Evolution of Data in Fintech00:35 AI and Regulation in the Financial Industry00:54 The Critical Role of Compliance in Fintech Success01:16 Partnerships and the Fintech Ecosystem02:07 Navigating the Complexities of Fintech Innovation05:16 Data Privacy and the Importance of Compliance07:46 The Future of Fintech: Trends and Predictions09:21 Building Strong Foundations in Fintech Partnerships11:30 Choosing the Right Partners and Avoiding Pitfalls14:25 The Importance of Transparency and Communication in Fintech17:06 Effective Compliance Strategies in Fintech22:03 The Challenge of Scaling in Fintech25:32 Red Flags and Best Practices in Fintech Partnerships26:40 Build vs. Buy: Strategic Decisions in Fintech Development27:36 Revolutionizing E-commerce Customer Support with AI28:19 Decoding the Buy vs. Build Dilemma in Business29:17 The Art of Choosing the Right Partners29:43 Identifying Good vs. Bad Partnerships34:27 Navigating the Complex Landscape of Credit and Lending40:25 Exploring Innovative Credit Programs45:08 The Future of Finance: Trends and Predictions50:59 Closing Thoughts and Future Directions52:16 Disclaimer and Final ThoughtsThis is a Production of Diamond D3, Media ABOUT: Joyce Mehlman: Joyce Mehlman is a highly experienced fintech consultant and owner of iLex Consulting Group with over 30 years of experience in the financial services industry. Having been in the fintech space for the last 16 years, Joyce has developed an in-depth understanding of the sector from both the bank's and fintech's perspectives. She has held a range of senior positions, including COO, SVP-Change Management, Director-Deposit Operations, and Head of Compliance and Operations at Douugh and Teampay, where she oversaw operations, compliance, AML, fraud, and third-party vendor management. Joyce's areas of expertise include fintech-related go-to-market support, banking operations, ACH, payments, debit card and rewards programs, private label banking, prepaid retail and insurance market, product implementation, system conversions, and risk management.iLex: At iLEX Consulting Group, we understand that FinTechs are filling voids in traditional banking including improving accessibility; identifying and fulfilling currently unmet customer needs; developing innovative products; and providing banking solutions for the currently underserved.Tedd Huff: Tedd Huff is the Co-Founder of Voalyre and the President and founder of Diamond D3, a professional services consulting firm focused on global payments and marketing. He is also a video podcast host and producer of Fintech Confidential.Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others, focusing on growth while delivering innovation, process improvements and user experience-driven value to simplify the complexity of payments.Colton Pond: Colton Pond is a seasoned marketing executive with a strong fintech and financial services background. In his latest role, Colton is the CMO for LoanPro's API-first lending platform, aiming to meet the increasing market demands. His track record includes a significant tenure at Truv, where he led the marketing team to achieve a 300% growth in year-over-year revenue. Colton has also held key marketing and sales positions at MX, Lucid, and HealthEquity, demonstrating his ability to drive success and innovation within the fintech sector.Diamond D3, Media: A media creation, management, and production company delivering engaging content globally.

In this episode of FinTech Confidentials, host Tedd Huff talks with Shai Stern, CEO of CheckAlt, about enhancing the efficiency of payment processing. Shai shares insights from his background in financial services and explores CheckAlt's strategies for improving the handling and processing of checks in a digital age. They tackle misconceptions about the obsolescence of checks and introduce CheckAlt’s initiatives to keep payments digital when possible, reducing the need for physical checks. Shai Stern, CEO of CheckAlt, shares insights on enhancing payment processing efficiency by improving the handling of checks and integrating new technologies. He highlights the importance of automation for smoother customer transactions and the company's initiatives to keep payments digital, thereby reducing the need for physical checks. Stern also offers advice to fintech entrepreneurs, emphasizing the importance of support from loved ones and staying open to feedback for continuous improvement, underscoring CheckAlt’s role in advancing the future of payments.Key HighlightsShai Stern Spills the Beans: The Truth About Checks!Discover what Shai Stern has to say about the common myth that checks are a thing of the past. Learn how billions are still used and why they remain important in today’s payment world.Unlocking the Secrets to Faster Payment Processing!Hear directly from Shai as he explains how CheckAlt has made paying with checks faster and easier than ever before without sacrificing security or efficiency.The Catch Solution: A Game-Changer for Online Payments!Find out how CheckAlt’s Catch solution is keeping more payments digital and reducing the need for paper checks, making transactions smoother for everyone involved.How Automation is Changing the Game in Payment Processing!Shai discusses the pivotal role of automation in payment processing, improving accuracy and customer satisfaction.Shai’s Top Advice for Fintech Entrepreneurs!Gain insights from Shai Stern’s experiences and learn his top advice for upcoming entrepreneurs in the fintech space.CheckAlt’s Strategy for Staying Ahead in the Payment Industry!Explore CheckAlt’s strategies for adapting to changes in the payment industry and how they plan to continue leading the market.Building a Winning Team: Shai Stern’s Approach to Leadership!Learn about the qualities Shai Stern values in his team and how a strong collaborative spirit has propelled CheckAlt to success.Why Checks Are Here to Stay!Shai Stern breaks down the reasons why checks are still a vital part of the financial ecosystem and how CheckAlt is working to enhance their use.Big Plans Ahead: CheckAlt’s Future in Fintech!Shai shares exciting future plans for CheckAlt, including further development of their payment technologies and solutions.Success Against the Odds: CheckAlt’s Story of Perseverance!Get inspired by how CheckAlt has flourished despite tough competition, proving that strategic focus and dedication can lead to impressive results in fintech.Takeaways 1️⃣ "Are Checks Really Outdated? Shai Stern Reveals All!"Contrary to popular belief, Shai Stern explains why checks are still a crucial part of today's financial transactions and debunks myths about their demise.2️⃣ "CheckAlt's Secret Weapon: The Catch Solution Explained!"Learn about CheckAlt's Catch solution, which aims to minimize the use of paper checks by keeping bill payments online, streamlining processes, and enhancing security.3️⃣ "How Automation Is Transforming Payment Processes!"Shai highlights the transformative impact of automation in speeding up payment processes and increasing efficiency, ensuring customer transactions are smoother than ever.4️⃣ "Shai Stern's Essential Advice for Fintech Startups!"Shai shares invaluable tips for fintech entrepreneurs, emphasizing the importance of robust support systems and openness to continuous learning and adaptation.5️⃣ "The Future of Fintech: Where Is CheckAlt Heading?"Get a glimpse into CheckAlt's future plans, which focus on further developing their technologies and solutions to stay ahead in the fast-evolving payment industry.Also, watch the entire episode on youtube. Links:CheckAltWebsite: https://checkalt.comLinkedIn: https://www.linkedin.com/company/checkaltTwitter: https://twitter.com/checkaltYouTube: https://www.youtube.com/user/checkaltLinkedIn Profile for Shai Stern: https://www.linkedin.com/in/shaistern1Fintech Confidential YouTube: https://fintechconfidential.com/watch Podcast: https://fintechconfidential.com/listen Notifications: https://fintechconfidential.com/accessLinkedIn: https://www.linkedin.com/company/fintechconfidentialTwitter: https://twitter.com/FTconfidential Instagram: https://www.instagram.com/fintechconfidential Facebook: https://www.facebook.com/fintechconfidentialSupportersCheckAlt: a game-changer in the financial world: ClearingWorks. Simplify your financial management with a one-stop solution for all your AR needs and with a single login. Intrigued? Visit https://clearingworks.com to schedule your demo todayMPC the Digital Commerce Event: Why MPC24? As a leader in the fintech space, whether you're a C-suite executive, a technologist, a startup innovator, or a government official, MPC24 offers an unparalleled opportunity to engage with the latest trends, technologies and thought leaders shaping the future of money. Register now and Save https://mpcevent.com/register-now-payment/Under: Transform Your Merchant Applications with Under. The Under platform revolutionizes the way ISOs handle merchant applications, offering a seamless transition to digital forms. Say goodbye to outdated processes and hello to efficiency. Discover the future of financial applications at https://under.io/ftcHAWK:AI - A game-changing approach to compliance. With real-time monitoring, adaptive learning, and advanced AI, it cuts false positives, simplifying your compliance efforts. Upgrade your surveillance with ease. Visit https://gethawkai.com for more intelligent, more effective compliance.LoanPro: As default rates continue to rise and margins compress in lending, financial organizations are searching for solutions that combine operational efficiency with innovation. Look no further, as LoanPro allows lenders to enhance their origination, servicing, collections, and payments using the foundation of a modern lending core. Check out loanpro.io/demo to learn how 600+ financial organizations have modernized their tech stack with LoanPro.Solvpath, an A.I.-driven customer support system that uses a visual format and self-serve technology to quickly and effectively resolve issues, resulting in satisfying support experiences for customers. Get the best customer support system for your business. Get Solvpath. Get started by visiting www.getsolvpath.com Time Stamps:[00:00:00] Introduction to CheckAlt and Shai Stern[00:02:26] Revolutionizing Payment Processing[00:05:29] The Truth About Check Processing[00:08:39] Automating Processes and Improving Customer Experience[00:13:43] Introducing Catch: Keeping Bill Paychecks Online[00:25:39] The Wisdom of CheckAlt's Team[00:28:03] Looking Ahead: CheckAlt's Plans for the Future[00:28:16] Building a Stronger CheckAlt with Talent and Collaboration[00:30:21] Investing in Check Technology, Software, APIs, and Payments[00:33:10] Shifting Revenue Mix and Becoming a Payments Company[00:39:30] Providing Value to Clients through Fintech Investments and Acquisitions[00:41:44] Success as an Underdog: Staying Focused and Delivering Exceptional Customer Service[00:46:58] The Future Frontier: Continuing the Strategy and Focusing on the Six Levers[00:50:36] Aligning with Advancements and Shifts in the Fintech Landscape[00:51:21] Advice for Fintech Entrepreneurs: Kindness, Belief, and MentorshipThis is a Production of Diamond D3, Media ABOUT: Shai Stern, Co-chairman and CEO: Mr. Shai Stern is the co-chairman and CEO of CheckAlt, the largest independent provider of treasury and lockbox solutions. He has played a pivotal role in the company’s growth through strategic acquisitions, including ERAS from Diebold, Inc. in 2014, Klik from MUFG Union Bank in 2016, and U.S. Dataworks from The Bankers Bank of Oklahoma in 2020. Mr. Stern is an influential figure in the fintech space, serving on the board of Bankjoy and having been a lead investor at Double Beam, Inc., where he facilitated the company’s acquisition of Gopago from JPMorgan in 2013 and led its subsequent sale to Verifone. His prior roles include serving as CEO and co-chairman of Vintage Filings, a New York-based EDGAR filing firm, until its acquisition by PR Newswire in 2007 and later sold to Wolters Kluwer in 2016. He also served as co-chairman of Vcorp Services. His extensive experience and leadership have significantly contributed to the fintech industry, particularly in areas of payment processing and digital transactions.CHeckAlt : CheckAlt is the largest independent provider of receivables management and payment and deposit processing solutions in the U.S., serving more than 1,000 clients across a broad range of industries, including financial institutions of all sizes, property management, healthcare, utilities, municipalities, and nonprofits. Operating as payment channel and demographic agnostic, CheckAlt processes check payments while also supporting electronic payment needs that are accelerating digital transformation. CheckAlt's solutions include lockbox processing across a nationwide hub-and-spoke network of processing sites, consolidated item processing, integrated treasury solutions, and mobile capture services. Learn more at https://www.checkalt.com.Tedd Huff: Tedd Huff is the Co-Founder of Voalyre, and the President & Founder of Diamond D3, a professional services consulting firm focused on global payments and marketing. He is also a video podcast host and producer of Fintech Confidential.Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others, focusing on growth while delivering innovation, process improvements and user experience-driven value to simplify the complexity of payments.Diamond D3, Media: A media creation, management, and production company delivering engaging content globally

In this episode of Fintech Confidential, host Tedd Huff and guest Kevin Olson, the Payments Professor, discuss fast payment systems like FedNow and RTP (Real-Time Payments). They cover how these systems are useful for immediate needs, such as paying bills quickly when time is critical.The discussion highlights how faster payments can make everyday financial activities easier and more secure for both consumers and businesses. Kevin points out that these systems are not just for emergencies; they also help businesses handle money more efficiently during regular operations.They also address common misunderstandings, such as the misconception that FedNow acts as a digital currency, which it does not. Instead, it's a system designed to speed up transactions securely and reliably.Lastly, the talk turns to the importance of understanding new payment technologies. Kevin emphasizes that proper knowledge and use of these technologies are crucial in preventing fraud and ensuring everyone benefits from the advancements in payment systems. This episode offers clear insights into how new payment methods are improving how we manage money, focusing on accessibility and security.Key Highlights"Are Your Payments Up to Speed? Find Out Why It Matters!"Tedd and Kevin explain why quick payments are crucial, especially for urgent bills like rent and utilities, ensuring you don't fall behind in today's fast-paced world."Busting Myths: FedNow is NOT a Digital Currency!"Kevin clears up a common confusion about FedNow, emphasizing that it is a system for speedy transactions, not a new type of money."How Quick Payments Empower Small Businesses"Discover how technologies like RTP help small businesses manage their finances better by providing faster access to funds, which is essential for their growth."The Hidden Costs of Sticking to Old Payment Methods"Kevin discusses how older payment methods might be holding back efficiency, encouraging listeners to consider modern solutions that match today's speed of business."What Everyone Gets Wrong About Payment Speed and Fraud"Debunking myths, Kevin explains why faster payments don't necessarily mean increased fraud, pointing out the real factors that contribute to security risks."Can Fast Payments Save You Money?"Explore how using faster payment methods can reduce costs associated with late payments and inefficiencies in traditional banking."From Checks to Real-Time: How Payment Methods Have Evolved"Kevin gives a brief history of how payment methods have transitioned from checks to real-time systems, highlighting the benefits of staying current."Why Education is Key in the Payment Industry"They discuss the importance of understanding new payment technologies, not just for businesses but also for consumers to fully benefit from them."Do Faster Payments Mean Less Waiting for Everyone?"Learn about the community benefits of adopting new payment technologies, which promise less waiting time and more reliability."Cut Through the Jargon: Making Payments Understandable"Kevin talks about his role in simplifying complex payment terms and technologies, making them accessible to everyone without the technical speak.Takeways 1️⃣ Exposed! FedNow Isn't What You Think!Clearing up misconceptions, Kevin explains that FedNow is not a digital currency but a system designed to make payments faster.2️⃣ Unlock the Secret: Why Faster Doesn't Mean Riskier!"Kevin debunks the myth that quicker payment systems increase fraud, emphasizing that the real issue lies in understanding and utilizing the technology correctly.3️⃣ Stop Overpaying with Slow Payments – Here’s How!"Learn how adopting faster payment methods like RTP can save money by reducing costs linked to delays and outdated processes.4️⃣ Small Businesses Rejoice: Faster Payments Could Be Your Savior!"Explore how technologies like RTP and FedNow can drastically improve cash flow for small businesses, enabling them to operate more efficiently.5️⃣ Simplifying Payments: How to Make Sense of Financial Tech Speak"Kevin discusses his role in breaking down complex payment jargon, making the latest financial technologies accessible and understandable for everyone.Watch on Youtube. Links:Fintech Confidential YouTube: https://fintechconfidential.com/watch Podcast: https://fintechconfidential.com/listen Notifications: https://fintechconfidential.com/accessLinkedIn: https://www.linkedin.com/company/fintechconfidentialTwitter: https://twitter.com/FTconfidential Instagram: https://www.instagram.com/fintechconfidential Facebook: https://www.facebook.com/fintechconfidentialSupportersMPC the Digital Commerce Event: Why MPC24? As a leader in the fintech space, whether you're a C-suite executive, a technologist, a startup innovator, or a government official, MPC24 offers an unparalleled opportunity to engage with the latest trends, technologies and thought leaders shaping the future of money. Register now and Save https://mpcevent.com/register-now-payment/Under: Transform Your Merchant Applications with Under. The Under platform revolutionizes the way ISOs handle merchant applications, offering a seamless transition to digital forms. Say goodbye to outdated processes and hello to efficiency. Discover the future of financial applications at https://under.io/ftcHAWK:AI - A game-changing approach to compliance. With real-time monitoring, adaptive learning, and advanced AI, it cuts false positives, simplifying your compliance efforts. Upgrade your surveillance with ease. Visit https://gethawkai.com for more intelligent, more effective compliance.LoanPro: As default rates continue to rise and margins compress in lending, financial organizations are searching for solutions that combine operational efficiency with innovation. Look no further, as LoanPro allows lenders to enhance their origination, servicing, collections, and payments using the foundation of a modern lending core. Check out loanpro.io to learn how 600+ financial organizations have modernized their tech stack with LoanPro.Skyflow, the leading data privacy platform trusted by top financial institutions. Protect your customers' data with Skyflow's innovative solutions. Get started at https://skyflowsecure.com Time Stamps:00:01:04 - https://under.io/ftc00:01:34 - Welcome to UNCUT00:02:17 - Meet The Payments Professor00:04:53 - The Evolution From ACH to FedNow00:08:21 - Navigating from Instant to Recurring Payments00:10:02 - Business Payments: Channel Jumping and Efficiency00:13:13 - Demand for Faster Payments and Its Implications00:31:39 - Directory Services and Confirmation to Payee00:32:06 - Friction and Fraud Prevention00:33:05 - Potential for Real-Time Merchant Payments00:35:12 - Immediate Settlements and Fraud Risks Challenges00:36:36 - Consumer Preferences00:38:57 - FedNow and Beyond00:51:54 - Addressing Fraud Education01:02:27 - Thoughts on Payment InnovationsThis is a Production of Diamond D3, Media ABOUT: Kevin Olsen: Kevin Olsen - "Payments Professor" AAP, APRP, CHPC, NCPFor the more significant part of the past two decades, Kevin has been managing the development and delivery of education services, including in-person classes, web conferences, and webcasts. Kevin develops programs, presentations, and articles designed to orient and educate financial professionals on various electronic payment topics. As the Payments Professor, Kevin brings enthusiasm and motivation to presentations. Viewing the world as a classroom, which is exemplified by the professor’s “edutainment” style of training, Kevin seeks to educate and inform everyone on the latest developments in the fascinating world of electronic payments.ed-u-tain-mint (noun\ When education is motivating, informative, and fun).Kevin Olsen is a certified AAP (Accredited ACH Professional), APRP (Accredited Payments Risk Professional), NCP (National Check Professional), as well as a certified NCP Instructor with additional computer network, database, and security settings. Over the past couple of decades, Kevin has been involved with product creation, design, implementation, education, and consulting for multiple platforms within remote deposit capture, ACH, and faster payments. Kevin has worked with financial institutions of all sizes in multiple countries to create products, services, departments, systems, teams, and results that help financial institutions become more productive, compliant, and secure.Tedd Huff: Tedd Huff is the Co-Founder of Voalyre, and the President & Founder of Diamond D3, a professional services consulting firm focused on global payments and marketing. He is also a video podcast host and producer of Fintech Confidential.Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others, focusing on growth while delivering innovation, process improvements and user experience-driven value to simplify the complexity of payments.Diamond D3, Media: A media creation, management, and production company delivering engaging content globally

In this episode, Tedd Huff and Colton Pond interview Joe Heck, the CEO of Happy Money. Happy Money focuses on personal lending and debt consolidation, aiming to help borrowers achieve their financial goals. They use personal loans to improve their financial situations. Joe shares insights on Happy Money's mission and their unique approach to lending, focusing on cash flow underwriting and differentiation in the market.Joe also discusses the importance of alternative data and the impact of credit unions as strategic partners. Happy Money partners with credit unions to deliver a member-centric experience, emphasizing the shift from transactional lending to building relationships with consumers. He highlights the role of technology in providing personalized experiences and the need for business agility.Joe shares his vision for the future of financing, including the potential of AI. He concludes by emphasizing the importance of optimizing infrastructure and focusing on the consumer to achieve Happy Money's mission of designing a happier way of lending..Five essential items you will take away. 1️⃣ Empowering Borrowers: Happy Money is dedicated to turning borrowers into savers by consolidating credit card debt into lower interest rate personal loans.2️⃣ Partnerships with Credit Unions: The company's strategic partnerships with credit unions provide a competitive edge and align the interests of consumers and financial institutions.3️⃣ Importance of Technology: Investing in technology and personalized experiences is crucial for delivering a member-centric experience in the lending industry.4️⃣ Future of Financing: Joe Heck discusses the potential of leveraging AI to personalize and simplify the customer experience in the future of financing.5️⃣ Optimizing Infrastructure: The importance of optimizing infrastructure to focus on customer-centric solutions and improve the overall lending experience.Key Highlights:Happy Money's Mission: Focus on helping borrowers become savers through personal lending and debt consolidation.Insights from the CEO of Happy Money, Joe Heck: Company's journey and approach to lending.Innovative Lending Approach: Utilizing cash flow underwriting and alternative data to personalize lending decisions.Partnerships with Credit Unions: Strategic alliances with credit unions to offer a member-centric experience and expand network partnerships.Empowering Borrowers: Transitioning from transactional lending to building ongoing relationships with borrowers.Investment in Technology: Leveraging technology to drive personalized experiences and improve financial well-being.Future of Financing: Exploring the potential of AI in personalizing and simplifying the customer experience.Optimizing Infrastructure: Emphasizing the importance of infrastructure optimization for customer-centric solutions.Empowerment and Financial Education: Highlighting the role of Happy Money in empowering consumers with knowledge and tools for better financial decisions.Member Success Stories: Discussing the impact of Happy Money's approach on the lives of over 300,000 members and their journey to financial freedom.Watch on YoutubeLinks:Happy MoneyWebsite: https://happymoney.com/Linkedin: https://www.linkedin.com/company/happy-money/Fintech Confidential YouTube: https://fintechconfidential.com/watch Podcast: https://fintechconfidential.com/listen Notifications: https://fintechconfidential.com/accessLinkedIn: https://www.linkedin.com/company/fintechconfidentialTwitter: https://twitter.com/FTconfidential Instagram: https://www.instagram.com/fintechconfidential Facebook: https://www.facebook.com/fintechconfidentialSupport Provided by:LoanPro - As default rates continue to rise and margins compress in lending, financial organizations are searching for solutions that combine operational efficiency with innovation. Look no further, as LoanPro allows lenders to enhance their origination, servicing, collections, and payments using the foundation of a modern lending core. Check out loanpro.io to learn more about how 600+ financial organizations have modernized their tech stack with LoanPro.HAWK:AI - HAWK:AI's game-changing approach to compliance. With real-time monitoring, adaptive learning, and advanced AI, it cuts false positives, simplifying your compliance efforts. Upgrade your surveillance with ease. Visit https://gethawkai.com for more intelligent, more effective compliance.Under: Transform Your Merchant Applications with Under. The Under platform revolutionizes the way ISOs handle merchant applications, offering a seamless transition to digital forms. Say goodbye to outdated processes and hello to efficiency. Discover the future of financial applications at https://under.io/ftc Time Stamps:00:30 Introducing Fintech Confidential: Accrued Series01:21 Special Guest Joe Heck from Happy Money01:40 Overview of Happy Money's Mission and Impact02:34 Joe Heck's Journey and Leadership at Happy Money06:14 Creating a Happier Way of Lending08:07 The Evolution of Happy Money11:03 Focusing on Credit Card Debt Elimination13:21 Innovating in Personal Lending with Happy Money16:31 Underwriting Beyond FICO Scores21:23 The Role of Alternative Data in Lending23:35 Partnering with Credit Unions for a Competitive Edge24:04 Exploring Happy Money's Customer Alignment and Challenges25:22 The Simple Secret to Outstanding Customer Experience26:13 Expanding Happy Money's Capital Partner Network26:39 The Future of FinTech and Happy Money's Approach32:07 Innovating with AI: Happy Money's Strategic Vision40:34 Optimizing Infrastructure for Customer-Centric SolutionsThis is a Production of Diamond D3, Media ABOUT: Joe Heck: Joe Heck is CEO of Happy Money, a leading platform for unsecured lending in partnership with credit unions. Over the last four years, Joe has played a critical role in driving Happy Money’s growth, operations, product innovation, and long-term capital strategy for originations. Prior to his CEO appointment in 2023, he served as the Chief Operating Officer, overseeing risk, data science, operations, and customer experience. Now as CEO, he brings his unique combination of grit and creativity to steer the company through this next season and drive the team forward to create value for Happy Money’s stakeholders, partners, and consumers alike. Joe has a legacy of driving innovation and transformation within the lending industry as well as years of experience working with credit unions. Prior to joining Happy Money, Joe spent 15 years at CUNA Mutual Group (now TruStage) in various leadership roles, including leading product innovation to help financial institutions on their digital transformation journey. Joe implemented a lean startup culture to enable customer-centric product development, increasing development and go-to-market velocity. He also served as an advisor to the company’s venture arm, TruStage Ventures, in evaluating fintech partnerships specific to the credit union industry. Joe received his MBA from the University of Minnesota’s Carlson School of Business and has a Bachelor of Business Administration in Finance from Michigan State University. Joe and his wife Britta have two young children, Oliver and Lincoln, and reside in Grand Rapids, Michigan.Happy Money: Happy Money is designing a happier way of lending that helps borrowers achieve their goals and helps credit unions achieve greater impact. Our mission comes to life through our platform, which enables happier lending at scale by connecting consumers with financial institutions who keep their best interests at heart. Through this model, we also bring credit unions access to technology solutions, high-performing assets, and national reach to accelerate their impact on communities and help increase their strength and resilience.Backed by leading investors, Happy Money has helped over 300,000 borrowers since inception – working with community-focused lending partners to fund more than $6 billion in loans*. Visit happymoney.com to learn more.Tedd Huff: Tedd Huff is the Co-Founder of Voalyre and the President and founder of Diamond D3, a professional services consulting firm focused on global payments and marketing. He is also a video podcast host and producer of Fintech Confidential.Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others, focusing on growth while delivering innovation, process improvements and user experience-driven value to simplify the complexity of payments.Colton Pond: Colton Pond is a seasoned marketing executive with a strong fintech and financial services background. In his latest role, Colton is the CMO for LoanPro's API-first lending platform, aiming to meet the increasing market demands. His track record includes a significant tenure at Truv, where he led the marketing team to achieve a 300% growth in year-over-year revenue. Colton has also held key marketing and sales positions at MX, Lucid, and HealthEquity, demonstrating his ability to drive success and innovation within the fintech sector.Diamond D3, Media: A media creation, management, and production company delivering engaging content globally

In this episode of "Accrued, a Fintech Confidential series presented by LoanPro, Tedd Huff and co-host Colton Pond sit down with Mike Dushane, the Chief Product Officer at Octane, to learn how getting loans for fun and recreational activities is becoming easier and more user-friendly. Mike has a rich background in the automotive and power sports industries. He shares how his passion and career have merged at Octane, leading to groundbreaking work in recreational financing. He explains Octane's mission: to streamline the loan process for customers looking to purchase RVs, motorcycles, and other recreational vehicles, making these dreams more attainable than ever before.Throughout the episode, the trio looks at the nuts and bolts of what makes Octane different. Mike highlights the company's close collaborations with dealers and manufacturers, ensuring that customers not only find the perfect vehicle but also secure financing in a smooth, hassle-free manner. This partnership model not only benefits customers but also strengthens the ecosystem around recreational vehicles, fostering a community of enthusiasts supported by accessible financing options.Mike shares his insights into how Octane's customer-centric approach sheds light on the importance of understanding and empathy in finance. By prioritizing the needs and experiences of their customers, Octane is able to offer personalized loan options that resonate with individuals' unique circumstances. This approach is not just about making sales; it's about building lasting relationships and supporting customers' lifestyles and passions.Looking to the future, the episode explores Octane's vision for continuing to innovate and improve the financing process. With a focus on leveraging technology and data, Mike discusses how Octane is constantly seeking new ways to enhance the customer experience, making it even easier for people to finance their recreational dreams. You will come away from this episode with a deeper understanding of how fintech is transforming the landscape of recreational financing. Through engaging stories and insightful discussions, Tedd, Colton, and Mike illuminate the exciting possibilities that lie ahead in making finance more accessible and aligned with the passions that drive us.Watch on YouTube.Key HighlightsMike's Automotive Background and Passion for Power Sports: Before joining Octane, Mike had extensive experience in the automotive industry and a personal passion for cars and power sports, which he brings to his role.The Importance of Team Success: Mike attributes Octane's success not to individual efforts but to the team's collective hard work and innovation.Octane's Approach to Lending: Octane initially focused on serving customers in the prime and near-prime segments, looking beyond traditional metrics to responsibly extend credit to those often overlooked by big banks.Customized Loan Offers: Utilizing alternative data and proprietary models, Octane can provide more personalized loan offers, often outperforming competitors by offering better terms or servicing customers they might decline.Technology Integration with Dealers and OEMs: Octane integrates its technology with dealer and OEM platforms, streamlining the loan application and approval process to enhance the customer experience and facilitate instant loan decisions.Data-Driven Collections Strategy: Octane employs a strategic approach to loan servicing and collections. It uses data to inform when and how to engage customers most effectively, aiming to enhance customer experience even in collections.Empathy in Collections: Beyond technology, Octane applies empathy in its collections approach, understanding customer situations to encourage repayment in a way that respects the customer's circumstances.Expansion into RV Lending: Recognizing the crossover interests of their customer base, Octane expanded into RV lending, adapting their lending approach to suit the different dynamics and needs of RV buyers.Compliance and Fair Lending Practices: Octane prioritizes compliance and fairness, using data and models vetted for bias to ensure equitable lending practices.Vision for the Future of Lending: Octane is focused on further personalizing the lending experience, leveraging data and technology to meet customers' individual needs more precisely and improve their purchasing journey.TakeawaysCustomer-Centric Financing: Octane focuses on creating a seamless, frictionless financing experience for customers looking to purchase recreational vehicles, including RVs and power sports vehicles. They use technology to simplify the loan process, making dreams more accessible for their customers.Partnerships Enhance Customer Experience: Through partnerships with dealers and OEMs (Original Equipment Manufacturers), Octane can offer more personalized and immediate loan options, enhancing the customer's overall buying experience.Empathy and Data-Driven Decisions: Mike Dushane emphasizes the importance of empathy in product development and decision-making at Octane. The company uses a combination of empathy and data to make better lending decisions and serve its customers more effectively.Future of Finance in Recreational Lending: Octane is exploring ways to personalize further and customize lending experiences, aiming to make financing as tailored and relevant to the individual customer as possible. This approach suggests a future where lending is transactional and closely aligned with the customer's preferences and needs.Innovative Use of Technology in Lending: Octane leverages its proprietary technology platform to manage the end-to-end buying and lending process, which includes everything from application to loan servicing. This streamlines the process and opens up opportunities for innovation in loan servicing and management.Octane:Website: https://octane.co/ LinkedIn: https://www.linkedin.com/company/octane-lending Fintech Confidential:YouTube: https://fintechconfidential.com/watch  Podcast: https://fintechconfidential.com/listen Notifications: https://fintechconfidential.com/access LinkedIn: https://www.linkedin.com/company/fintechconfidential X (formerly Twitter): https://twitter.com/FTconfidentia lInstagram: https://www.instagram.com/fintechconfidential Facebook: https://www.facebook.com/fintechconfidential Support Provided by:LoanPro—As default rates continue to rise and lending margins compress, financial organizations are searching for solutions that combine operational efficiency with innovation. Look no further, as LoanPro allows lenders to enhance their origination, servicing, collections, and payments using the foundation of a modern lending core. Check out loanpro.io to learn more about how 600+ financial organizations have modernized their tech stack with LoanPro.HAWK:AI - HAWK:AI's game-changing approach to compliance. With real-time monitoring, adaptive learning, and advanced AI, it cuts false positives, simplifying your compliance efforts. Upgrade your surveillance with ease. Visit https://gethawkai.com for more intelligent, more effective compliance.Under: Transform Your Merchant Applications with Under. The Under platform revolutionizes the way ISOs handle merchant applications, offering a seamless transition to digital forms. Say goodbye to outdated processes and hello to efficiency. Discover the future of financial applications at https://under.io/ftc Skyflow, is the leading data privacy platform trusted by top financial institutions. Protect your customers' data with Skyflow's innovative solutions www.skyflowsecure.comTime Stamps:01:25 Octane's Big Move02:25 Mike's Impact04:47 Mike's Love for Cars08:52 Tech Makes Loans Easy10:30 Partners Make It Better13:49 What Makes Octane Special16:24 Choosing Who Gets Loans20:50 Keeping Loans Healthy23:42 Low Default Secrets24:05 Tech in Loan Service24:37 Tech Talks to Customers25:06 Lending with Heart26:19 Caring in Collections27:06 Data for Better Loans30:02 RV Loans Join the Mix33:59 Personal Touch in Lending34:56 Fair and Right Lending36:04 Future of FinancingThis is a Production of Diamond D3, MediaABOUT:Mike Dushane: Mike Dushane is the Chief Product Officer at Octane, overseeing the product and editorial teams and responsible for product direction, strategy, and implementation. He joined Octane in August 2018 and has introduced innovative new products that have significantly contributed to its growth. Mike lives in Brooklyn, NY, and is an avid traveler, photographer, swimmer, car nut, and gadget tinkerer.Octane: Octane® is revolutionizing recreational purchases by delivering a seamless, end-to-end digital buying experience. We connect people with their passions by combining cutting-edge technology and innovative risk strategies to make lifestyle purchases–like powersports vehicles, RVs, and outdoor power equipment–fast, easy, and accessible. Octane adds value throughout the customer journey: inspiring enthusiasts with the Octane Media™ editorial brands, including Cycle World® and UTV Driver®, instantly prequalifying consumers for financing online, routing customers to dealerships for an easy closing, and supporting customers throughout their loan with superior loan servicing. Founded in 2014, we have more than 30 OEM and 4,000 dealer partners, and a team of over 500 in remote and hybrid roles.Tedd Huff: Tedd Huff is the Co-Founder of Voalyre and the President and founder of Diamond D3, a professional services consulting firm focused on global payments and marketing. He is also a video podcast host and producer of Fintech Confidential.Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others, focusing on growth while delivering innovation, process improvements and user experience-driven value to simplify the complexity of payments.Colton Pond: Colton Pond is a seasoned marketing executive with a strong fintech and financial services background. In his latest role, Colton is the CMO for LoanPro's API-first lending platform, aiming to meet the increasing market demands. His track record includes a significant tenure at Truv, where he led the marketing team to achieve a 300% growth in year-over-year revenue. Colton has also held key marketing and sales positions at MX, Lucid, and HealthEquity, demonstrating his ability to drive success and innovation within the fintech sector.Diamond D3, Media: A media creation, management, and production company delivering engaging content globally