Fintech Business Podcast

In this episode, I had the chance to talk with Unit21's head of product Kunal Datta. Kunal and I had the chance to discuss:-The recent guest post Kunal published in Fintech Business Weekly-The new fintech playbook: eliminating work instead of just streamlining it.-How fintechs use AI to differentiate by solving for frequency instead of friction.-How fintechs, banks, and credit unions are using AI to automate financial crime operations.-How to think about AI automating manual work in financial services.-And more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

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

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

Listen on Apple Podcasts | Listen on Spotify Hey all, Jason here.Alex Johnson, creator of the Fintech Takes newsletter, and I are happy to bring you the latest episode of our monthly podcast, Fintech Recap, where we unpack some of the biggest stories in fintech, banking, and crypto.This episode is brought to you by Fintech NerdCon, the fintech event by operators, for operators. Use promo code FBW20 to save 20% on your ticket!In this episode, Alex and I discussed:* If open banking is prisoners' dilemma, Plaid defected to JPMorgan Chase. What it means and what comes next.* The FBI is continuing to investigate embattled Evolve Bank & Trust and its bankrupt middleware partner Synapse over as much as $95 million in missing depositor funds.* FICO is an AI company now, I guess.* And, as always, what Alex and I just can't let go of. Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

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

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

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

In this episode, Alex Johnson of Fintech Takes and I discuss:* FICO launches new scores that incorporate pay-in-four buy now, pay later data. But will it make a difference?* The CFPB files a statement of interest in the Synapse bankruptcy, potentially setting up a backdoor bailout to make out-of-pocket depositors whole. Does it set a bad precedent?* A brief word on crypto mortgages.* And, as always, what Alex and I just can't let go of. Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

Listen on Spotify | Listen on Apple PodcastsHey all, Jason here.In this episode, I had the chance to talk with Executive Vice President and General Manager of Payments and Financial Services at BILL's Mary Kay Bowman. Mary Kay's career has spanned roles at Amazon, Square, Visa, and now financial operations platform BILL. We had a chance to discuss:* BILL's evolution from accounts payable and receivable tools, to cashflow insights and forecasting, to the wide breadth of capabilities it offers today* Why so many businesses still use checks (really)* Balancing the needs and preferences of payor and payee* The persist challenges of fraud in the payments space* The opportunities presented by AI and “agentic” payments* And more!Enjoying this podcast? Follow, rate it, and leave a review on your favorite podcast app — it really helps others find the show.

In this episode, I had the chance to talk with Luke Voiles, CEO of embedded financing platform Pipe. Luke and I had the chance to discuss:* How Pipe has evolved over time* The kinds of platforms Pipe partners with* Pipe's embedded card capabilities* Pipe's relationship with its bank partner* And more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to talk with Trent Sorbe, Chief Payments Officer at First International Bank & Trust. Trent and I had the chance to discuss:* The different waves of bank-fintech partnerships and the popping of the BaaS bubble* What some investors and bankers got wrong about the first wave of BaaS* What's different about First International Bank & Trust's payments platform, Kotapay, and banking-as-a-service platform, Kavinu* Kavinu's first customer: online savings marketplace Raisin* And more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, Alex and I discussed:* Unpacking Chime's IPO plans* What the hell is going with 1033?* The GENIUS bill advances in the Senate* And, as always, what Alex and I just can't let go of Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to talk with Arad Levertov, cofounder and CEO of buy now, pay later lender Sunbit. Arad started Sunbit 10 years ago — long before BNPL as we know it today exploded in popularity during the early days of the COVID pandemic. Arad and I had a chance to discuss:* What differentiates Sunbit from other BNPL providers in a crowded market* Why distribution is key in lending, particularly in BNPL* Sunbit's unique approach to underwriting borrowers that allows it to approve 9 out of 10 applicants* How Sunbit stays ahead of emerging macroeconomic shifts* And more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode Alex Johnson, of Fintech Takes, and Jesse Silverman, of Troutman Pepper, joined me to talk about:* Recent developments in the bankruptcy case (spoiler: Jesse isn't a bankruptcy lawyer!)* Who's to blame for the Synapse disaster* Reflections on some of the regulatory response, including former FDIC Chair Gruenberg's effort to roll back the 2020 brokered deposit rule and the “Synapse” ledgering and reconciliation rule* What lessons stakeholders — banks, fintechs, regulators, VCs — can and should take from this situation* And more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, Alex and I discussed:* Alex's trip to BaaS Island: the founder/CEO of Increase seeking approval to acquire a controlling stake in a bank & the Hatch Bank's consent order with the California DFPI* Ryan Breslow's return to one-click checkout / “super app” Bolt* Crypto firms seeking bank charters* And, as always, what Alex and Jason just can't let go of Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to talk with Michele Alt, cofounder and managing director of Klaros Group and a 22-year veteran of the Office of the Comptroller of the Currency. Michele and I had the chance to discuss:* What the opening of the “charter window” means and how fintechs should think about the opportunity* The de novo process vs. acquiring an existing bank* Michele and Klaro's recent work on SmartBiz's acquisition of United Community Bancshares and its subsidiary, Centrust Bank* Thinking through when becoming or buying a bank makes sense vs. when it might not* The open letter Michele coauthored alongside many other industry experts advocating for changes the federal bank regulators can make to streamline de novo bank formation* What Michele is keeping her eye on in DC at the moment* And much more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, we discussed:* Alex and I recorded this before “Liberation Day” and thus before Klarna chose to delay its IPO; that said, our analysis of Klarna's F-1 registration statement stands!* A return to BaaS Island: a first-hand account of Mercury and Evolve's abrupt public parting of ways; what other banks, fintechs, and regulators can learn from the chaotic split.* It's charter time: a brief discussion of SmartBiz, OakNorth, and OneMain's progress on charters; prescient, given the news this week that Stripe has applied for Georgia's merchant acquirer limit purpose bank (MALPB) charter (more on Stripe's news from me here, including a copy of the public portion of its application.)* And, as always, what Alex and I just can't let go of. Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to talk with Matthew Goldman, a true expert in the card space. Matthew has done stints at Green Dot, AT&T, Bankrate, and Apto Payments, as well as starting multiple of his own ventures. Matthew currently published the CardsFTW newsletter and is the founder and managing member of boutique fintech consultancy Totavi.We had a chance to discuss:* Matthew's thoughts on where fintech debit & credit card businesses stand in 2025, including if interchange alone is a sustainability business model (hint: it's not)* Whether or not there's room for another big consumer fintech out there* The changing infrastructure space, including the difference between issuer processors and program managers* Crypto & stablecoins* and more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to speak with ledgering, reconciliation, and compliance startup NAYA's CEO Sherif Kozman. We had a chance to discuss:* Why ledgering and reconciliation, especially in fintech-bank partnerships, is so dang difficult (hint: legacy cores, batch payment files & more)* The consequences of poor ledgering and reconciliation* Advice for banks and fintechs struggling to manage manual processes* And more Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to speak Current's cofounder and CTO, Trevor Marshall, and Cross River Bank's Head of Strategy and Development, Hillel Olivestone. We had the chance to talk about:* Why Current decided to build its own tech stack & what it's enabled the company to do* How Current and Cross River think about the “buy vs. build” debate* The “jobs to be done” addressed by Current's Build Card* Current's latest Datos Insight case study* The beauty and resiliency of ACH flat files (yes, really)* And more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, Alex Johnson and I discuss:* The chaos in DC. What might in mean for banking, fintech & consumers?* Varo Bank struggles on, with a new CEO and some additional capital.* A grab bag of BNPL topics.* And, as always, what Alex and Jason just can't let go of. Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to speak to Rafa Plantier, Head of Go-to-Market at Gigs, the world's first operating system for mobile services, enabling companies, including neobanks, HR and travel platforms, and device manufacturers, to seamlessly embed phone and data plans into their products within weeks. Gigs provides an end-to-end connectivity platform with everything brands need to launch and operate their own multi-market mobile service.We had the chance to discuss:* The opportunity banks and fintechs see in the mobile connectivity space* What geographies and customer segments may be more open to bundling mobile service with their financial provider* How Rafa's experience in banking and fintech has informed how he thinks about mobile phone service (and vice-versa)* And much more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

Hey all, Jason here.Alex Johnson, creator of the Fintech Takes newsletter, and I are happy to bring you the latest episode of our monthly podcast, Fintech Recap, where we unpack some of the biggest stories in fintech, banking, and crypto.We recorded this ~very special episode~ live during the Fintech XChange event in Salt Lake City, Utah, late last month — and were joined by Alloy Labs Alliance CEO Jason Henrichs (the more Jasons the merrier!). We had the chance to talk about:* Revelations that the Department of Justice is investigating the Synapse catastrophe* Patriot Bank's BaaS-related enforcement action* Ramp's launch of Ramp Treasury* Rohit Chopra's land stand at the CFPB* And, as always, what Alex and Jason just can't let go of…If you enjoy listening to this podcast and find value in it, please consider supporting me (and finhealth non-profits!) by signing up for a paid subscription. It wouldn't be possible to do what I do without the support of listeners like you! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

This month, Alex and I had the chance to talk about:* CBW Bank's fights a $20.5 million civil money penalty that could “imperil” the bank's existence* Will the IPO window open in 2025? Chime confidentially files to go public.* The CPFB's parting shots: the bureau files suit against Walmart & Branch (but not partner Evolve Bank & Trust)* And, as always, what Alex & Jason just can't let go of Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

Alex Johnson, creator of the Fintech Takes newsletter, and I are happy to bring you the latest episode of our monthly podcast, Fintech Recap. This month we had the chance to talk about:* Our time in Washington, DC, to attend the American Fintech Council Policy Summit, FinRegLab's AI Symposium, and a variety of other meetings* What's been happening on “BaaS Island,” with the Synapse bankruptcy moving into its next phase as depositors are left wondering when — or if — they'll ever be made whole* The CFPB's rule defining larger participant in the digital wallet space* …and, as always, what Alex and Jason just can't let go of Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to sit down with an OG of fintech who really needs no introduction, cofounder and CEO of Affirm and PayPal Mafia member Max Levchin. Max and I had the chance to discuss:* How Affirm designs its systems and processes to mitigate third-party risks, including service interruptions and, yes, data breaches* How Affirm thinks about selecting its bank partners and how it works with them to meet regulatory and compliance expectations* To what extent political and regulatory uncertainty impacts how Affirm approaches running its business* The CFPB's interpretive rule that treats pay-in-four buy now pay later as a “credit card” for certain purposes under TILA Reg Z* Affirm's recent earnings announcement* And Affirm's recent launch in the United KingdomExisting subscriber? Please consider supporting this newsletter by upgrading to a paid subscription. New here? Subscribe to get Fintech Business Weekly each Sunday: Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

With the Synapse bankruptcy case seemingly nearing some kind of conclusion, impacted end users are left wondering, will they ever get their money back?While, at this point, Synapse cofounder and former CEO Sankaet Pathak can't really answer that question, he is able to provide greater context on what happened and why.In this podcast, recorded as a X (formerly Twitter) livestream yesterday, November 11th, I had the chance to interview Pathak and impacted depositors had an opportunity to ask him questions directly.Key takeaways I had from the conversation include:* Pathak revealed that Evolve had sent him a cease and desist as a result of him posting what he says is an anonymized version of the trial balance report of the funds Evolve held for end users.* A description of the process by which Evolve prepared and sent files to Synapse for reconciliation, including a possible reason why balances between Evolve's systems and Synapse's appeared to varied substantially day to day, and Evolve's claim that this wasn't something to worry about, Pathak said.* Pathak said that Evolve was aware of and acknowledged that fees owed to Tabapay were improperly debited from customer funds, but that Evolve disputed whether it was the bank's fault.* Synapse didn't want Synapse Brokerage to contract with Evolve or keep the Brokerage's funds at Evolve due to the known shortfalls, Pathak said.* The plan with the Brokerage structure, per Pathak, was that incoming funds would land in users' DDA accounts at Evolve, a portion of those funds that users would transact with would stay at Evolve, and the rest would be swept out to AMG. However, Pathak says, in late September or early October 2023, Evolve, without explanation why, ceased processing sweeps out of Evolve to AMG.* Pathak described how Evolve's reversal of position on funding the FBO shortfalls led to the collapse of the deal for Tabapay to acquire Synapse's assets and, ultimately, the collapse of the company and freeze of end user funds.* Pathak acknowledged taking two loans from the company, one in late 2023 and one in early 2024, which totaled $320,000. The transactions, Pathak said, were approved by the Synapse board — though, at the time, the board consisted of Pathak himself, a seed round investor that, and a Synapse cofounder. While Pathak didn't name specific individuals, per filings in the bankruptcy case, the seed investor is Doug Marchant and the Synapse cofounder is Hilary Quirk. Pathak declined to elaborate on the purpose of the loans, besides saying he had “good reasons” to do it, which would “become obvious” relatively soon.* Full reconciliation should be possible, Pathak said, but it would require the right data, resources, people, and time.* Pathak acknowledged anonymously leaking a letter that Synapse had sent to Evolve to me (which I suspected at the time but didn't know until now.)* According to Pathak, Synapse's board of directors, which, at points, included Andreessen Horowitz's Angela Strange, Trinity Venture's Schwark Satyavolu, and Core Innovation Capital's Arjan Schütte, was broadly aware of the issues Synapse faced, that they were “trying to do the right thing,” and that the board ask Pathak “not to shut down and escalate.”* While Chapter 11 trustee McWilliams and Judge Martin Barash have made numerous references to not being able to confirm or deny if they have made any referrals to law enforcement, Pathak said that he is not aware of any criminal investigation and has not been contacted by law enforcement authorities, though he did acknowledge speaking with broker-dealer self-regulator authority Finra.* When asked if, in the regular course of its business, Synapse had any interaction with Evolve's regulators, the St. Louis Federal Reserve or the Arkansas Department of Banking, Pathak indicated that it did not.Additional Context & Fact Checking* Pathak suggested that Evolve or others not suing him for defamation should be interpreted as a sign that he's telling the truth. However, Evolve has explicitly stated that it believes Pathak's claims about a shortfall of end user funds and the causes of it are “based on ledgers that are demonstrably inaccurate and that his company prepared” (see FAQ #17 here.) It's also worth noting that Evolve may have other reasons to avoid filing such a suit against Pathak — namely, that Evolve would presumably have to turn over relevant documents as part of discovery in any such suit.* Pathak said that Synapse launched the brokerage sweep program in October 2023, in response to Evolve raising Synapse's reserve requirement and withholding interest payments owed to end users, fintech programs, and Synapse. However, the Synapse Brokerage entity had been up and running for sometime by this point, and Synapse had been working with many of its programs to migrate them to the new structure since significantly earlier in 2023.* Asked directly if Pathak or Synapse ever inappropriately used end user funds, including using end user funds to meet bank reserve requirements, Pathak said he was not aware of any instances of customer funds being misappropriated. Pathak described the allegation that Synapse used customer funds to meet reserve requirements at Lineage as “factually false.” However, Pathak's answer glosses over that it was Synapse that would have instructed from Evolve to Lineage and, per my prior reporting, represented that these were Synapse's own funds, not end users'.* Pathak also denied that Synapse knowingly allowed fees Synapse owed to be debited from end user funds, saying that, as soon as such issues came to the company's attention, it alerted Evolve and worked to fix them. However, Pathak did not specify if when these types of issues occurred, whether or not end user balances were made whole.* Asked about his robotics startup's attempt to raise funds and purported relationship with GM, first reported by me and subsequently confirmed by CNBC, Pathak described the CNBC reporter as “a piece of s**t” and “highly unethical,” alleging that the reporter contacted an auto industry union leader, not GM, leading the union leader to threaten a strike if GM didn't pull out of the deal. However, the CNBC piece quoted a GM spokesperson as saying, “GM has never invested in Foundation Robotics and has no plans to do so. In fact, GM has never had an agreement of any kind with the company. Any claims to the contrary are fabricated.” GM sent me a statement to the same effect.Existing subscriber? Please consider supporting this newsletter by upgrading to a paid subscription. New here? Subscribe to get Fintech Business Weekly each Sunday: Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

Alex Johnson, creator of the Fintech Takes newsletter, and I are happy to bring you the latest episode of our monthly podcast, Fintech Recap, where we unpack some of the biggest stories in fintech, banking, and crypto.This month we had the chance to talk about:* A return to BaaS Island: the FDIC's proposed “Synapse Rule,” Five Star Bank quits BaaS, and the evolving (ha) economics of partner banks* The CFPB accepts comments on FDX as standard-setting organization for 1033 open banking* Department of Justice sues Visa, alleging it has used anticompetitive business practices to maintain an illegal monopoly on the US debit processing market* …and, as always, what Alex and Jason just can't let go ofAre you attending Money2020? Alex and I will be joining Simon Taylor for an invite-only session on “How to Win At Embedded Finance,” sponsored by Sardine, Sonar, LoanPro, and Visa — more info here.If you enjoy listening to this podcast and find value in it, please consider supporting me (and finhealth non-profits!) by signing up for a paid subscription. It wouldn't be possible to do what I do without the support of listeners like you! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to sit down with James Doherty, the Head of Business Development for Financial Services at Sinch, the customer communication cloud platform that includes mobile messaging, voice, email and other emerging channel capabilities. We had the chance to discuss:* Financial services' key “jobs to be done” via communications channels, including acquisition, engagement, retention, and fraud prevention* The importance of flexibility in communications strategy, including being able to meet customers where they are, whether that's SMS, email, or emerging communications channels* Challenges in managing communications strategy, including privacy regulation* The role of conversational AI in customer communications strategy* And more!Existing subscriber? Please consider supporting this newsletter by upgrading to a paid subscription. New here? Subscribe to get Fintech Business Weekly each Sunday: Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to sit down with Michael Nicklas, Managing Partner at Valor Capital Group, a Brazil-based cross-border venture fund. Valor's fintech and crypto portfolio companies include cross-border payment and trade finance network Hamsa, crypto exchanges Bitso and Coinbase, and stablecoin infrastructure company Circle, among many others. Michael and I had the chance to talk about:* Unique aspects of Latin American that shape the market for financial services* The role the Brazilian central bank plays in fostering progress and innovation in financial services in the country (yes, that includes Pix)* What Valor means when it describes its investing strategy as being “cross border”* How Valor takes into account evolving geopolitical risks as it considers its investing approach* And more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

Alex Johnson, creator of the Fintech Takes newsletter, and I are happy to bring you the latest episode of our monthly podcast, Fintech Recap, where we unpack some of the biggest stories in fintech, banking, and crypto.This month we had the chance to talk about:* The launch of Klarna's bank account gift card* Affirm's killer earnings* Are niche neobanks back?* Apple opening up NFC (sort of)* And, as always, what Alex and Jason just can't let go ofAlso, if you're attending Finovate next week, keep your eye out for us!I'll be taking the stage with some of my favorite industry colleagues, Alex, Jason Henrichs, and Kiah, to discuss the perennial topic in US fintech, banking-as-a-service. I imagine the brokered deposits topic may make a cameo.I'll also be attending Alloy Labs happy hour on the This Week In Fintech happy hour on Tuesday — hope to see you there!If you enjoy listening to this podcast and find value in it, please consider supporting me (and finhealth non-profits!) by signing up for a paid subscription. It wouldn't be possible to do what I do without the support of listeners like you! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

Alex Johnson, creator of the Fintech Takes newsletter, and I are happy to bring you the latest episode of our monthly podcast, Fintech Recap, where we unpack some of the biggest stories in fintech, banking, and crypto.This month we had the chance to talk about:* Mercury, which partners with Evolve Bank & Trust and Choice Bank, informed users based in or with ties to certain countries, including Ukraine and Nigeria, that it would close their accounts — what's happening and how Mercury is handling it* Bank regulators' request for information on bank-fintech partnerships offers clues about what the they may be worried about* CFPB drops interpretive guidance saying earned wage access may be considered “credit” for certain purposes under TILA* FDIC votes on rule to effectively reverse 2020's brokered deposits rule* And, as always, what Alex and Jason just can't let go ofIf you enjoy listening to this podcast and find value in it, please consider supporting me (and finhealth non-profits!) by signing up for a paid subscription. It wouldn't be possible to do what I do without the support of listeners like you! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to sit down with Kelly A. Brown, Chairman and CEO at deposit management startup Ampersand. Previously, she spent 13 years at the American Deposit Management Company. Kelly and I had a chance to talk about:* What inspired Kelly to get into banking* The sudden attention paid to deposit insurance in the wake of SVB's collapse* How FBO and deposit insurance pass through models should be structured* Consumers' misapprehensions about what deposit insurance does and doesn't cover* And more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

Frank Rotman of QED, Jason Henrichs of Alloy Labs, and I discussed “Balancing Growth With Risk In The Post-ZIRP Era,” including touching on:* How the extended low-interest rate environment impacted venture capital and fintech* How the evolving regulatory climate is shaping fintechs' and banks' risk appetite and strategies* What the next 12 months will look like* And more!Regular programming will resume next Sunday, August 4th.Existing subscriber? Please consider supporting this newsletter by upgrading to a paid subscription. New here? Subscribe to get Fintech Business Weekly each Sunday: Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to sit down with Wade Arnold, cofounder and CEO of Moov, a fintech infrastructure company that enables and simplifies push and pull card payments. Moov also puts on the Fintech Devcon conference, which is August 7th-9th in Austin — more info and tickets here. We had a chance to talk about:* What to expect at (and what I should wear to) Fintech Devcon* Payment and core banking infrastructure in the US* Implications of and lessons from the Synapse bankruptcy* Reasons to be optimistic about the future of fintech* and more!Existing subscriber? Please consider supporting this newsletter by upgrading to a paid subscription. New here? Subscribe to get Fintech Business Weekly each Sunday: Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

This month Alex Johnson and I had the chance to talk about:* Jason's special news: I wrote a book! The book, Banking as a Service: Opportunities, Challenges and Risks of New Banking Business Models, will be available toward the end of the year — but you can preorder now, and if you order directly from the publisher here and use promo code “BAASISLAND,” you get 20% off!* Pirates invade BaaS island: Evolve Bank & Trust, partner to dozens of fintech programs, hacked by Russian ransomware group LockBit* Elsewhere in BaaS news: Thread's consent order* Apple drops Apple Pay Later, will partner with issuers and BNPL firms instead* Chevron decision drops (disclosure: neither Alex nor Jason are lawyers)* and, as always, what Alex and Jason just can't let go of Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to sit down with Rhett Roberts, cofounder and CEO of API-first lending and credit platform LoanPro. Rhett and I had the chance to talk about:* LoanPro's recent announcement of integrating with Visa DPS (and some background for folks who might not know why that's important!)* LoanPro's journey from homegrown software to powering some of the biggest lenders in fintech* How LoanPro helps its customers stay ahead of evolving legal and regulatory issues* How LoanPro structures its organization to ship code quickly* and more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to sit down with Stuart Sopp, CEO and cofounder of Current. Stuart and I had the chance to talk about:* What's change in fintech and banking since the last time we talked in 2023 (hint: a lot)* Current's new products and features, including its credit builder card and an EWA-style offering* The challenges of state-by-state licensing and importance of compliance* Balancing the need for growth with profitable unit economics* What's on the road map for Current* and more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to sit down with Nicolas Benady, the CEO of French embedded finance platform Swan, live at Money2020 Europe earlier this month. Nicolas and I had the chance to talk about:* embedded finance and banking-as-a-service in Europe vs. the US* what being licensed as an emoney institution enables Swan to do and how it's different than being or partnering with a bank* why Swan is confident in its ability to effectively oversee its third-party partners* how Swan's clients leverage its capabilities* and more!Special thanks to the entire Money2020 crew for hosting us in the MoneyPot podcast booth and putting on another great event! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to sit down with John Stuart, the general manager of fintech and international at Apex Fintech Solutions, an investing and wealth management infrastructure platform. John and I had the chance to talk about:* What the capabilities Apex provides, including custody, clearing, and execution, enable its customers to build* How Apex scaled its platform across 150 countries* What Apex has learned and how its refined its offering over 10+ years in market* Some novel use cases for the infrastructure Apex has built* And more Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

Alex Johnson, creator of the Fintech Takes newsletter, and I are happy to bring you the latest episode of our monthly podcast, Fintech Recap, where we unpack some of the biggest stories in fintech, banking, and crypto.This month we had the chance to talk about:* Latest on Synapse bankruptcy and what it may mean for banking-as-a-service & fintech (this episode was recorded May 29th)* Visa's new “crebit” credential* The CFPB's interpretative guidance on buy now, pay later* And, as always, what Alex and I just can't let go ofIf you enjoy listening to this podcast and find value in it, please consider supporting me (and finhealth non-profits!) by signing up for a paid subscription. It wouldn't be possible to do what I do without the support of listeners like you! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to sit down with Neepa Patel, cofounder and CEO of Themis, a compliance collaboration tool for banks and fintechs, on stage at last month's Empire Fintech Conference in New York. Neepa and I had the chance to talk about:* What “fintech people” misunderstand about regulators* What fintechs should think about when selecting a bank partner* Whether or not tech is (and should be) a competitive differentiator in banking-as-a-service platforms“Many banks are still utilizing manual controls, processes and even spreadsheets to manage compliance and governance. We've been impressed with Themis' collaborative and centralized modules to increase efficiency, and reduce complexities and internal costs while helping to streamline compliance controls.”— Candice Antinori, VP Compliance Management & CRA Officer at FinWise BankThemis is a user friendly, collaborative compliance platform to help financial institutions manage complex relationships across internal control groups and to help fintechs' level up their own governance, risk, and compliance cultures.The platform provides a centralized compliance collaboration suite of purpose-built workflows and tools that seamlessly integrate risk, communications, documents and so much for internal teams and external partnerships between banks and fintechs. With Synapse entering into bankruptcy proceedings in the last few weeks, with knock-on impacts to Evolve Bank and Trust, Lineage, and multiple fintech programs, one could easily be forgiven for thinking fintech categorically is facing a regulatory reckoning. But, current turmoil notwithstanding, the bank-fintech partnership model will endure, with the players that prioritize compliance best suited to navigate the fallout.Learn more about how Themis banks are Elevating Governance, Risk and Compliance Cultures here.If you enjoy listening to this podcast and find value in it, please consider supporting me (and finhealth non-profits!) by signing up for a paid subscription. It wouldn't be possible to do what I do without the support of listeners like you! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

This month Alex and I had the chance to talk about:* “BaaS Island” is heating up: Synapse files for Chapter 11 bankruptcy, with TabaPay slated to acquire its assets, and Solid settles its dispute with its former investors, FTV.* Is 2024 going to be the year of “pay by bank”? Alex and I aren't entirely convinced.* A federal earned wage access bill is in the works (but unlikely to pass anytime soon).* VC darling BloomTech's CFPB consent order.* and, as always, what Alex and I just can't let go of. Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

This month we had the chance to talk about:* BaaS drama continues, with Piermont and Sutton receiving consent orders* Chime has HOW MANY customers?* Trade groups vs. Colorado on DIDMCA, or, where is an online loan “made”?* Quick takes on the Visa/Mastercard settlement* And, as always, what we just can't let go ofIf you enjoy listening to this podcast and find value in it, please consider supporting me (and finhealth non-profits!) by signing up for a paid subscription. It wouldn't be possible to do what I do without the support of listeners like you! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I had the chance to sit down with Tommy Nicholas, CEO of identity risk solutions platform Alloy, a global, end-to-end identity risk solution for banks and fintechs. Tommy and I had the chance to talk about:* factors impacting fraud risk today, including the growth of real-time payments and the dawn of the genAI age* key take aways from Alloy's 2024 State of Fraud Benchmark Report* the difference between “frictionless” and “seamless” in financial services UX* public and private efforts to create digital identity solutions* what's on Tommy's radar in the fraud space in 2024* and more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

This month, we were joined by Jon Zanoff of Empire Startups, and we had the chance to talk about:* The deal of the century: Capital One's acquisition of Discover* Another trip to “BaaS Island,” to discuss Lineage's consent order and other developments* A preview of New York Fintech Week & Jon's Empire Fintech Conference* And what we just can't let go ofIf you enjoy listening to this podcast and find value in it, please consider supporting me (and finhealth non-profits!) by signing up for a paid subscription. It wouldn't be possible to do what I do without the support of listeners like you! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I spoke with Michal Cieplinski, founder and CEO at CapStack.CapStack is the first integrated operating system for banks enabling cooperation across banks and other financial services institutions in order to drive profitability and asset diversification. Michal and I had a chance to talk about:* The importance and challenges of asset/liability management for banks* The risks that come from asset, geographic, and sectoral concentration, especially with current concerns around commercial real estate* How CapStack can help banks mitigate these risks* Moving from manual, Excel-and-email-based processes to technology-powered, automated exchanges for buying and selling loan participation stakes* and more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

This month, Alex and I had the chance to talk about:* Another trip to “BaaS Island” to discuss Blue Ridge & Choice Bank enforcement actions amid the ongoing regulatory sweep of banking-as-a-service* Buy now, pay later expansion strategies: subscription plans? Savings accounts? What is more or less likely to work and why.* PayPal's attempt to “shock” the world falls flat* Alex tries to explain Bilt Rewards to me* And, as always, what Alex and Jason just can't let go of. Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

Alex Johnson, creator of the Fintech Takes newsletter, and I are happy to bring you the latest episode of our monthly podcast, Fintech Recap, where we unpack some of the biggest stories in fintech, banking, and crypto.This month, we had the chance to talk about:* Changing dynamics in reimbursement rules for victims of authorized push payment fraud.* Revolut's claims that is growing quickly and a UK bank license is imminent.* The next fintech trend: unlocking benefits of tax-advantage accounts. Are these companies, or features?* Alex's favorite topic: credit building. A quick recap of TomoCredit's dubious credit builder offering.* Alex and I take our first visit to “BaaS Island.”* And, as always, what Alex and Jason just can't let go of. Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode, I spoke with Jon Lear, President and cofounder of Fintech Meetup, taking place in Las Vegas March 3-6, 2024 (learn more and get your tickets here.) We had the chance to discuss:* the crazy year in fintech and banking that was 2023* looking for silver linings in a challenging operating and fundraising environment* what's in store for 2024* key themes and topics for next year's Fintech Meetup event* and more! Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

This month, Alex Johnson and I had the chance to talk about:* the growing “fintech reckoning,” especially among consumer fintechs, with reports of possible shutdowns, sales, and pivots for companies like HMBradley, Petal, Apple/Goldman Sachs, Mint, Braid, Catch, and many others you probably haven't even heard of* Alex's favorite topic, credit builder products: including Tomo's perplexing offering, Region's partnership with Self, and the wider product space* as well as a quick discussion of the Fed's proposed lowering of the Durbin interchange cap and Plaid's decision to create a consumer reporting agency subsidiary* and, like every month, what Alex and Jason just can't let go of Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe