Show cover of Fintech One•On•One

Fintech One•On•One

Fintech is eating the world. Join Peter Renton, Co-Founder of Fintech Nexus, every week as he interviews the fintech leaders who are leading the transformation of financial services. If you want to understand what the future will look like for lending, payments, digital banking and more tune in to Fintech One•On•One (formerly the Lend Academy Podcast).

Tracks

#385: Robert Morgan of USDF Consortium
The benefits of blockchain technology are yet to be realized in banking. While some large banks have commercial projects nothing has really taken off yet. Much of that is due to regulatory uncertainty but many banks are actively engaging and learning while we are in this something of a holding period.Our next guest on the Fintech One-on-One podcast is Robert Morgan, the CEO of the USDF Consortium, a group of banks creating a blockchain-based system for tokenized deposits that will make banking safer, cheaper and more reliable for consumers. Rob used to be the head of innovation at the American Bankers Association (we had him on the show back in 2017) and so he has a deep understanding of banking and technology.In this podcast you will learn:Why Rob decided to make the jump from the ABA to the USDF ConsortiumHow he describes what USDF is exactly.How banks will use USDF and a description of the payments flow.The primary benefits of USDF and the most popular use cases.How the programmability of USDF can be leveraged.Why USDF will be complementary to Fedwire and FedNow (when it launches).How the USDF Consortium, the Provenance Blockchain and Figure are related.How they are working with the Federal regulatory agencies today.Details of their response to Treasury’s RFC on digital assets.How they view CBDCs and how it could be complementary to what they are building.The types of banks that are members of the consortium.Where they are at when it comes to USDF going live.The objections of banks who are not ready to join the consortium.What Rob thinks the next move from regulators will be when it comes to digital assets.What the banking system could look like in ten years time.
33:32 09/23/2022
Fintech Nexus News Show: September 22, 2022
One the news show yesterday we discussed big fintech stories from FTX, Stash, Voyager, Adyen, Cash App, Nasdaq, Sardine, Consumer Financial Protection Bureau, Marcus by Goldman Sachs, Synctera and more. 
31:16 09/23/2022
#384: Sameer Gulati of ZenBusiness
Starting a business is an exciting time for new entrepreneurs, a time full of optimism and possibilities. That optimism can fade as reality sets in with a myriad of legal and financial steps that must be taken that have nothing to do with his or her passion. Thankfully, there are technology companies that are making it much easier today.Our next guest on the Fintech One-on-One podcast is Sameer Gulati, the head of fintech for ZenBusiness, a company helping would-be entrepreneurs launch new businesses. His company realized that once a business has been created there are a myriad of financial products that the new entrepreneur will need and who better to help them than the company that guided them through the setup process.In this podcast you will learn:What was the catalyst for taking this role at ZenBusiness.The mission of ZenBusiness and how they have evolved.The amazing number of new businesses that are being created today.Why the idea of a side hustle has been a real accelerant.What kinds of businesses people are starting.The demographic profile of these new entrepreneurs.How they are giving potential new business owners the confidence to take the leap.What ZenBusiness provides once people have made the decision to start a business.The financial services that ZenBusiness is going to offer their clientsHow they have approached the development of new financial products.The huge advantage that ZenBusiness has over other fintechs.How they intend to grow with their small business customers.The types of partners they will work with to help their faster-growing customers.Details of their recent $200 million fundraise.How they are raising awareness of the ZenBusiness brand.How the shift to embedded finance is making their move into fintech so much easier.
28:21 09/16/2022
#383: Dimitri Dadiomov of Modern Treasury
Every company on the planet processes payments. They will usually take some combination of cash, checks or credit cards. But increasingly companies are offering ACH, wires or some other kind of electronic payment. If your organization is doing hundreds or thousands of these kinds of transactions a day you need to have software to help you reconcile it. My next guest on the Fintech One-on-One podcast is Dimitri Dadiomov, the CEO and Co-Founder of Modern Treasury. Dimitri and his co-founders saw this challenge firsthand while working at LendingHome (now Kiavi) and they realized it was a pain point that many companies have. Reconciling large numbers of ACH or wire payments is not a trivial task but it is a critical function that needs to work every time.In this podcast you will learn:The founding story of Modern Treasury.Why the infrastructure for receiving wires and ACH payments had not been built.How they were able to land their first client.How their product offerings have evolved since they started.Some of the verticals they are focused on.A detailed case study: how they are helping Pipe.How banks view what Modern Treasury is doing.How they are working with Silicon Valley Bank.What they are doing with real-time payments.How they had to change their systems for real-time payments.How they approach fraud and what they make available to their customers.The scale they are at today.The vision for Modern Treasury.
31:06 09/09/2022
Fintech Nexus News Show - Sep 8, 2022
On this week's news show we discussed the OCC's views on bank-fintech partnerships, UBS, Wealthfront, Binance, Coinbase, Zelle, Apple, Walletmor and more.
30:44 09/09/2022
#382: Laura Merling of Arvest
I would say that most banks today talk about digital transformation. They know that what made them successful in the 2010s may not work as well in this decade. So, they partner with fintechs, build innovation teams and try to transform their bank. One bank that is all-in on this process is Arvest Bank, a $26+ billion bank based in Bentonville, Arkansas.Our next guest on the Fintech One-on-One podcast is Laura Merling, the Chief Transformation & Operations Officer at Arvest Bank. Laura left a senior role at Google to work for this community bank, the reason behind that is compelling in and of itself. But when you listen to this interview you will have an appreciation for how Arvest is tackling this whole process of transformation in a different way.In this podcast you will learn:What attracted Laura to Arvest that caused her to move there from Google.How she defines her title, Chief Transformation and Operations Officer.The advantage of coming from outside of finance to this position.The size and different business lines of Arvest Bank.What early wins they have had since Laura started at the bank.Why they decided to change out their core banking platform.How they get everyone on board for transformation.How the culture is unique at Arvest, leading to multiple awards.Details of their Million Meals Program.How the Walton family is involved with Arvest.What upcoming in the near term on their transformation path.
28:46 09/02/2022
Fintech Nexus News Show - September 1, 2022
On the fintech news show today we discussed big stories about The Federal Reserve Board, Klarna, Alloy, Consumer Financial Protection Bureau, Tether, State of California, Ticketmaster, Dapper Labs, Andreessen Horowitz and more.
31:44 09/02/2022
#381: Adal Flores of Kueski
In Mexico there is a huge need for banking services. It is one of the most unbanked economies in the world as most consumers stay in the cash-based informal economy. But as the fintech ecosystem develops, there are compelling reasons for people to join the formal economy, and Kueski is at the heart of those efforts.Our next guest on the Fintech One-on-One podcast is Adal Flores, the CEO and Co-Founder of Kueski. They have been doing consumer loans for many years but their BNPL product Kueski Pay, is starting to get serious traction as Kueski is looking to build a complete financial ecosystem.In this podcast you will learn:The story behind the founding of Kueski.How the company has evolved since they started in 2013.How they encourage people to move away from the cash economy.What is behind the growth of BNPL in Mexico.How they underwrite people who are only using cash.Details of their small pilot with physical stores for BNPL.Why they are building a financial ecosystem.Why the growth of BNPL in Mexico is very different to the USA, Australia of Europe.How the Mexican regulators view fintech innovations like BNPL.Why CoDi, the digital payments system, has not taken off in Mexico.The scale they are at today.Adal's vision for bringing more people into the formal economy.
31:39 08/26/2022
Fintech Nexus News Show - August 25, 2022
Today, we discussed big fintech news from FTX, Marcus by Goldman Sachs, Ramp, J.P. Morgan, Zelle®, Consumer Financial Protection Bureau, Coinbase, Andreessen Horowitz, Bank of America, Seedrs and more.
32:32 08/26/2022
#380: Justin Wickett of Informed.IQ
A myriad of documentation is needed for lenders to make an accurate lending decision. This becomes even more complicated in the case of auto loans where an entirely new category of paperwork enters the picture. Lenders need to be able to process this unstructured data quickly and easily.Our next guest on the Fintech One-on-One podcast is Justin Wickett, the CEO and Co-Founder of Informed.iq. They have tackled this challenge head-on and are able to automate verifications in real-time with 99% accuracy.In this podcast you will learn: How Justin's time at Lyft and Credit Karma helped solidify the idea for Informed.Details of the Informed core product.How the automated verification process works.How the gig economy has complicated income verification.The kinds of documents they are processing.How they are using AI and Robotic Process Automation.What they are doing when it comes to fraud prevention.Why they decided to start with auto loans.The core target market for Informed.What their partnership with Origence (formerly CU Direct) means.How they work with credit unions, where there are limited tech capabilities.Justin's vision for the future of Informed.
31:35 08/19/2022
Fintech Nexus News Show - August 18, 2022
On the show today we discuss big fintech news from the Federal Reserve Board, Apple, Visa, Mastercard, Affirm, Galaxy Digital, BitGo, Silvergate Bank, Signature Bank, Customers Bank and more.
31:04 08/19/2022
Fintech Nexus News Show - August 11, 2022
This week on the news show we discussed big news stories from Plaid, Wise, Marcus by Goldman Sachs, Tornado Cash, Figure, Digit, Coinbase, Marqeta, Upstart and more.
32:44 08/13/2022
#379: Brock Blake and Denada Ramnishta of Lendio
Before the pandemic, very few banks were interested in small business loans, those sub-$100,000 loans that are the lifeblood of millions of small businesses. But when forced into action with the Paycheck Protection Program banks found (often with the help of fintechs) that they could not only underwrite these loan sizes, they could do it online. That has been a game changer.My next guests on the Fintech One-on-One Podcast are Brock Blake, CEO and Founder, and Denada Ramnishta, Chief Growth Officer, of Lendio. They enabled hundreds of thousands of PPP loans and were integral in helping hundreds of banks become online lenders. Now, they are taking it to the next level.In this podcast you will learn:How people should think about Lendio today.How the PPP has changed small business lending forever.What is the state of small business lending today.The idea of the three Capital C's of lending.The different types of data that are important in underwriting today.The rich data Lendio has internally across so many different businesses.Why the critical piece here is open data.How they help small business owners decide on the best loan product.What has to happen to make capital-on-demand a reality.The different types of lenders they work with.The impact of higher interest rates on small businesses.What is most exciting about the future of small business.
35:18 08/13/2022
#378: Logan Allin of Fin Capital
If you go back just nine months, you will remember a time when fintech founders were raising capital with ease. Nine-figure funding rounds were the norm, and a new fintech unicorn was minted almost every day at ever higher valuations. Today, the pendulum has swung in the completely opposite direction where any funding round is a surprise with down rounds and layoffs now the norm.To make sense of all this craziness, we invited Logan Allin, the founder and managing partner at Fin Capital, to the podcast. His recent Navigator deck caught my attention, it is packed full of advice for founders and thoughts on the industry, and he has made it publicly available for everyone.In this podcast you will learn:Logan's background and the founding story of Fin Capital.How he first got into fintech and what attracted him to itThe gaps in the industry that were not being addressed by traditional VC.What he means when he talks about SaaS Plus businesses.A breakdown of their three private funds and their different focuses.The six sub-sectors of fintech where they invest.The quarterly Navigator deck that they share with their founders and now the industry.Logan's specific advice for founders looking to ride out this downturn.How founders should think about valuation multiples today.When Logan thinks the IPO window for fintech companies will reopen.What a normal fintech valuation market looks like and when we will get there.
38:20 08/05/2022
Fintech Nexus News Show - August 4, 2022
On this week's Fintech Nexus News show we discussed big news stories from Coinbase, BlackRock, Robinhood, PayPal, SoFi, CFTC, JPMorgan Chase & Co., Equifax, #superapps, #consumercredit, #cryptohacks and more.
30:48 08/05/2022
#377: Al Periu of Zilch USA
When it comes to Buy-Now-Pay-Later (BNPL) consumers continue to spend. They love the product in all of its varieties. While those of us in the fintech space lament the huge drop in valuations with many of the BNPL leaders, consumers don't care. They just continue to use the product.The BNPL pioneers all focused on the merchant model, where they do deals with large brands to offer their BNPL solutions to consumers. But there is more awareness today (thanks to Apple) of the direct to consumer model.My next guest on the Fintech One-on-One Podcast is Al Periu, the CEO of Zilch USA. Zilch began in the UK and built a successful direct to consumer BNPL business very quickly and they have recently launched in the US.In this podcast you will learn:How Al first connected with the Zilch team.Why his experience at Funding Circle was just what Zilch needed.A description of Zilch's UK business.How their product works in the US.Who their typical customer is.How they are trying to get to top of wallet with the consumer.Why they decided to go direct to consumer instead of focusing on merchants.Al's thoughts on Apple's entry into the BNPL space.What the BNPL pioneers provided to the market that helps Zilch.Details of their business model.Where the capital is coming from to fund the Pay-in-4 loans.How lawmakers should be thinking about BNPL.His thoughts about Klarna's recent down round.How Zilch was able to close a funding round at a flat valuation.Where BNPL is going to go over the next decade.Their plans for Zilch in the US.
31:00 07/31/2022
#376: Meredith Carter of Context Business Lending
Those companies that are no longer small businesses but not yet large corporations occupy what is called the "middle market." When it comes to lending to these companies, it is very relationship-driven and not exactly a tech-forward operation. So, this spells an opportunity for a fintech-centered approach to middle market lending.My next guest on the Fintech One-on-One Podcast is Meredith Carter, the CEO of Context Business Lending. They are an asset-based lender (ABL), and you can tell they are a little different because they have trademarked the term: Consider ABL Disrupted.In this podcast you will learn:How Meredith became aware of Context Business Lending (CBL).The state of the middle market asset-based lending market.How transactions get done in this market.The different industries they focus on.The typical companies that come to CBL for a loan.Range of loan terms and interest rates.How they are bringing automation to the underwriting process.The average length of time from initial contact to funded loan.How they fared during the pandemic.Why they decided to lean in and continued during that time.The capital markets advantage of being backed by a single family office.How they work with banks when co-funding the loans.What they do to monitor their loan portfolio.The scale they are at today.Meredith's vision for CBL.
24:34 07/22/2022
#375: Dan Doney of Securrency
If you have been following the crypto space for any length of time, you hear the excitement that many people have for the tokenization of assets. They talk about being able to trade any asset globally, doing it instantly and with transparency. But there has always been a missing piece to this puzzle: compliance. How are governments going to get comfortable with this?Our next guest on the Fintech One-on-One podcast is Dan Doney, the CEO and Co-founder of Securrency. They have taken this challenge head-on. You see it right there on their home page: "imagine a world of effortless compliance, borderless transactions and newfound financial fluidity." Now, these words sound idyllic but what is different with Securrency is they have built the technology and capability to make this a reality.In this podcast you will learn:The circuitous route Dan took to become an entrepreneur.The broader problem that Securrency is looking to solve.Why compliance and liquidity are inextricably linked.The services they are providing for financial institutions.How and why they first connected with WisdomTree.Details of the assets they will be tokenizing for WisdomTree.Why globalized distribution is one of the key use cases.How they are blending the payments process with the investing process.How Securrency has tackled and solved the compliance challenge.How they work with new issuers to tokenize their assets.An example of how someone will be able to trade tokenized assets.Why they are not focused on tokenizing crypto assets at this time.Dan's vision for the future of the global financial system.
33:52 07/16/2022
Fintech Nexus News Show - July 14, 2022
On today's show we discussed big news from Celsius, Stripe, Klarna, Three Arrows Capital Pte Ltd, Plaid, OpenSea, The Home Depot, PlayStation, Quadrata, Inc., BNPL and more.
31:25 07/15/2022
#374: Matt Oppenheimer of Remitly
Tens of millions of people are living and working in a foreign country and sending money to their families back home. They want a remittance service that is convenient, inexpensive and trustworthy. And while the remittance business has been around for more than a century, there are better options today than ever before.My next guest on the Fintech One-on-One Podcast is Matt Oppenheimer, the CEO and founder of Remitly. He started the company back in 2011, just as smartphones were getting going, and has built it into one of the world leaders in the space operating in some 135 countries today and sending billions of dollars around the world each year.In this podcast you will learn:How Matt's time in Kenya gave him the idea to start Remitly.Why the timing for starting Remitly was one of the keys to his success.How he describes Remitly today.Where they operate and the main remittance corridors.How the remittance process works exactly.The prevalence of cash versus electronic transfers.Why the complexity is in doing localization at scale.What is involved in expanding to a new geography.A profile of the typical customer using Remitly.What banks are missing by not serving the immigrant population.Matt's views on crypto and its role in the remittance space.What he is working on today that is most interesting.What he finds most exciting in payments and banking today.His vision for remittances and where we will be by the of the decade.
30:42 07/08/2022
Fintech Nexus News Show - July 7, 2022
On the news show today we discuss big fintech news from Voyager Digital, FTX, Nexo, Vauld, Meta, Klarna, Goldman Sachs, ONE, defi, embedded finance and more.
31:40 07/08/2022
#373: Abby Levy of Primetime Partners
There is a massive market that has been all but ignored by fintech founders. I am talking about the senior market. We have tens of millions of people, many with a decent net worth, with few financial services targeting them. This needs to change because the financial needs of this population are only going to become more complex and demanding over time.Our next guest on the Fintech One-on-One Podcast is Abby Levy, the co-founder and general partner at Primetime Partners. After helping her father who had been retired for 20 years she realized there is very little infrastructure in place to support older adults and she saw that as a real opportunity. So, she started a venture capital firm to help founders looking to provide products for this market.In this podcast you will learn:How her personal experience led to her becoming a venture capitalist.How she met her partner, the venture capital legend Alan Patricof.The state of the financial wellbeing of seniors in this country.Why fintech founders are not focusing enough on this massive market.The many categories where there are huge opportunities:Asset decumulation - why we need a plan to tap into liquidity of assets.Pre-retirement or "pretirement" - planning for retirement later in a career.Post-retirement - gig economy opportunities and the off-ramp for retirees.Senior-friendly credit products - we need more creative products to help seniors and their families.Care insurtech - only 7% of Americans have Long Term Care insurance, we need better options.Health-fintech crossovers - hospitals and providers are partnering with fintechs on payment schemes.Who the founders are that are coming across Abby's desk.What it will take for fintech founders to focus on the senior market.What the future might look like for fintechs focused on this population.
32:27 07/01/2022
Fintech Nexus News Show - June 30, 2022
On the show today we discussed fintech news from FTX, BlockFi, Robinhood, Celsius, OpenSea, Cambridge Centre for Alternative Finance, Cambridge Judge Business School, Amount, U.S. Securities and Exchange Commission, Apple and more.
32:22 06/30/2022
#372: Eric Rachmel of Brace
Mortgage servicing is one of the few areas of finance that has been relatively untouched by fintech. It is very complex with huge technology and compliance requirements that creates a large barrier to entry for newcomers. But there are new entrants that are not taking on the incumbents directly but partnering with them in one of their key areas of need: loss mitigation.Our next guest on the Fintech One-on-One Podcast is Eric Rachmel, the CEO and Founder of Brace. They have created a modern tech stack that works seamlessly with the traditional systems of the large servicers to provide end-to-end loss mitigation.In this podcast you will learn:The opportunity Eric saw that led to the founding of Brace.Why there has been such little innovation in mortgage servicing.How mortgage servicers operate today.What their standard procedure is for loss mitigation.How the Brace loss mitigation system works.The types of loan servicers that Brace works with today.How a new system such as Brace works with legacy servicing solutions.What they found out in their consumer survey from earlier this year.Eric's perspective on the potential acquisition of Black Knight by ICE.How he used his background as a VC when raising money for Brace.Why loan servicing has taken the spotlight in recent years.What an economic downturn might do for Brace's business.What is next for Brace.
34:09 06/25/2022
#371: Matt Harris of Bain Capital Ventures
The venture capital business has had an interesting couple of years. Deals were done with a speed that was previously unimaginable and without any face-to-face meetings. Plus the entry of huge amounts of money from private equity and investors with deep pockets caused an unprecedented increase in valuations. Now, the world has changed again.My next guest on the Fintech One-on-One podcast is Matt Harris, partner at Bain Capital Ventures. This was recorded at Fintech Nexus USA in New York last month when I interviewed Matt on our keynote stage. You can also watch the video of this discussion.Matt pulls no punches in this discussion and describes in pretty stark terms the challenges that fintech entrepreneurs will face over the next 12-18 months. We end with Matt's thoughts on the future of money and why decentralization is such a key part of this future.In this discussion you will learn:Why the state of fintech today is fantastic for the end users.Why Matt believes the run-up in fintech valuations was a toxic situation.How Zoom changed the venture capital business for Bain.The percentage of all money invested in fintech that came from VCs.Why fintech public market valuations say more about public markets than it does about fintech.Why Matt thinks the public markets are broken.How the venture capital business compares today to pre-pandemic times.Why there is a narrow window in the very short term to get deals done.Matt's thesis on the future of money that he wrote in Forbes.What is inevitable about the move to decentralized finance.What finance will look like in 20-30 years.
22:13 06/17/2022
Fintech Nexus News Show - June 16, 2022
On the show today we discussed Coinbase, BlockFi, Celsius, PayPal, Affirm, HomeLight, Mayor Eric Adams, Abra, American Express, European Central Bank and more.
30:44 06/17/2022
#370: Rob Frohwein and Kathryn Petralia of Keep Financial
Employee retention is something that many companies, large and small, struggle with constantly. Despite this obvious pain point, there has not really been a fintech-focused approach to attacking this problem. Stock options and season tickets to ballgames will only motivate, or be appropriate for, certain audiences. But everyone loves cash.My guests on today's episode of the Fintech One-on-One podcast are Rob Frohwein and Kathryn Petralia. They became big names in the fintech space as the founders of Kabbage which they sold to American Express in 2020. This dynamic duo is back with a new company called Keep Financial and they are out to revolutionize employee compensation.
29:05 06/10/2022
Fintech Nexus News Show - June 9, 2022
On the news show this week we talked about big news from Apple, PayPal, Senators Lummis and Gillibrand, Custodia Bank, Checkout.com, Upstart, Consumer Financial Protection Bureau, Stripe and more.
31:16 06/10/2022
#369: Sultan Meghji, former Head of Innovation at the FDIC
The financial regulatory apparatus in this country is incredibly complex. Much of it has been patched together over the past 90 years or so and does not reflect the realities of this modern world. But what needs to change? How can government become better at regulating finance?My next guest on the Fintech One-on-One podcast is Sultan Meghji. He is the former head of innovation and the FDIC and he grappled with those issues firsthand. Now that he has left the agency he is able to talk freely about what is most needed for regulators to, not just deal with a rapidly changing financial system, but to embrace it.In this podcast you will learn:Why Sultan decided to take the job at the FDIC.The innovations he was most focused on.The programs he worked on first.When it comes to new technology, what banks need most urgently.The biggest challenge to enacting change in banking.Why banks are getting a lower percentage of money injected into the economy.How the government can attract talent and why it is such a big problem.What he highlighted in his Bloomberg op-ed.The reasons that Sultan quit after a year on the job.The reaction he received from his op-ed.If we were designing a regulatory system from scratch, what it should look like.Why we need to incentivize global capital to come to the United States.Some incremental changes that can happen to get us to a better place.Sultan's perspective on the future of financial regulation.
34:33 06/08/2022
#368: Matthew Wratten of EverChain
The debt buying process is one that has traditionally been highly manual with Excel spreadsheets flying around and not much automation or sophistication. But that has started to change as fintech has come to debt buying and selling.My next guest on the Fintech One-on-One podcast is Matthew Wratten, the CEO and founder of EverChain (formerly known as Debt Trader). EverChain has created a platform that allows debt buyers and sellers to manage their non-performing loans with a level of technology and compliance not before seen in the industry.
28:18 06/03/2022