Afleveringen
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Welcome to the Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller.
In today's episode, we explore what it takes to build world-class data governance in financial services. Our guests are Jay Como, the global head of data governance at T. Rowe Price, and Glenn Kurban, partner at Capco. We talk about how generative AI and new data strategies are transforming finance, sharing insights on the transformation of the Chief Data Officer role.
The discussion also focuses on the challenges of large-scale data migrations. Jay Como reflects on the convergence of data and digital roles. He states, "What we've seen is there used to be kind of two shapes of CDOs. There was a chief data officer and there was a chief digital officer. And what I think in the last five years is what we've seen is those roles have really come together."
Glenn Kurban adds depth to this perspective, emphasizing the shift towards more proactive data strategies. Glenn says, "You're seeing much more being asked of CDOs in terms of, how are we moving now to an offensive posture around data? That is, how am I going to monetize this data? How can I use it to drive better decisions, reduce costs, and actually outpace our competitors?"
As our discussion unfolds, it becomes clear that the financial services industry is at a pivotal moment. AI tools and cloud technologies are reshaping traditional approaches to data governance and migration. The insights shared by Como and Kurban offer a glimpse into the future of data management in finance. AI-driven solutions and strategic data governance converge to create new opportunities and challenges.
Here’s my conversation with Jay and Glenn. -
This conversation with Suzy’s Matt Britton really rose above the noise and allowed me to look at the financial services industry as an interconnected whole, as a mechanism that is alive and complex. It's the kind of perspective you can lose when you report on niche developments day in and out.
In this podcast, Britton takes us on a step by step inspection of a lot of the things we have come to take for granted: the rise of BNPL, Gen Z’s complicated relationship with money, and also how AI is going to impact sectors like wealth management and restructure how we recruit, train and strategize around talent.
Britton is an example of a man that not only has his finger on the pulse but is also able to condense the many and sometimes conflicting signals the market and the industry gives, into a cogent outlook.
It's a conversation that will urge you to stop and take stock, and one that also spotlights how FIs can make the most of an industry and consumers that are in flux right now. -
Zijn er afleveringen die ontbreken?
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Today’s a first for the podcast. We have an entire management team joining us on the podcast.
For today’s show, we have the new leadership team of Malka Media. Malka is a subsidiary of MoneyLion and the firm’s content studio. It’s in integral part of the entire firm’s strategy and we definitely dive into their groundbreaking approach to financial content marketing.
Bill Davaris, co-CEO of Malka Media, emphasizes the importance of quality content and storytelling for the firm. He states, "We're trying to bring in what modern brands want, right? By bringing in top talent, where can we serve them with the latest technologies and strategies."
Paige McCrenskey, Chief Brand Officer, highlights the challenges of the "attention deficit economy". She focuses on the need for brands to connect through compelling stories. Chris Apostle, co-CEO, discusses the critical role of technology and data in powering marketing efforts and customer engagement.
Together, they explore how Malka Media is creating a dynamic content ecosystem within MoneyLion and beyond with the firm’s clients.
Malka Media’s new management suite is my guest today on the Tearsheet Podcast. -
Tearsheet’s roots were in investment and wealth tech. As that world became more focused on plain vanilla robo-advisors about a decade ago, I expanded our focus to include banking, payments, and lending. That’s because with ETFs and low-cost providers, it felt like most of the focus of innovation was coming from removing costs.
Things have changed since then. On today’s episode, we explore the changing world of wealth management with two industry leaders: Nader Souri, Head of Corporate Banking at BNY, and Caesar Sengupta, CEO of Arta Finance. You don’t have to listen closely to really feel their connection and the relationship they’ve personally forged through working together. I first spoke with Ceasar a few years ago when he was VP and General Manager of Payments and Next Billion Users at Google.
Our conversation reveals how these two organizations are leading how wealth management solutions are evolving for professionals. It also sheds light on the role of fintech partnerships in this transformation.
Caesar Sengupta opens the discussion by explaining Arta Finance’s mission. “We are a digital family office or a digital private bank for professionals, not the ultra-rich,” he says. The goal is to democratize wealth management and make sophisticated financial tools accessible to those who have worked hard in their careers. Nader Souri adds, “At BNY, we provide the platform upon which folks like Arta Finance can build their businesses.” He highlights the role of clearing and custody infrastructure. This helps in supporting innovative fintech solutions. -
Brought to you by Tearsheet, Compound Influence is a podcast that explores the power of influencers in the financial services industry.
The hosts, Zack Miller and Josh Liggett, discuss the rise of influencers and their impact on private investing and traditional financial services. They focus on the OG influencer, Jim Cramer, and his use of social media, particularly Twitter. They highlight the importance of finding the right platform for your business and going all-in on that strategy. Josh and Zack also discuss the credibility and street cred that Jim Cramer brings to the table, as well as the importance of providing education and tools to your audience. They conclude by mentioning the Inverse Jim Cramer Twitter account and the academic research on the inverse strategy.
Takeaways
Influencers have become powerful players in the financial services industry, particularly in private investing and traditional financial services.
Finding the right platform and going all-in on that strategy is crucial for success as an influencer.
Credibility and street cred are important factors in building influence, and having a background in the industry can enhance credibility.
Providing education and tools to your audience can help establish trust and loyalty.
The Inverse Jim Cramer Twitter account and the academic research on the inverse strategy highlight the impact and influence of Jim Cramer. -
Matt Oppenheimer, co-founder and CEO of Remitly, joins us on the podcast today. He shares his journey and insights into building a company that transcends borders with trusted financial services. Remitly's vision is audacious: to transform lives by providing reliable financial services across the globe. "We're just getting started," says Oppenheimer, reflecting on the company's growth and future aspirations.
Oppenheimer emphasizes the importance of focus and customer trust in Remitly’s success. Starting with a single corridor—U.S. to the Philippines—Remitly has grown to serve over 5,000 corridors worldwide. "By going deep into one country, you could really get it right," he explains. This strategy, although slower initially, has paid dividends in building a trusted and loved service for millions of users.
From handling complex risk systems to managing a vast disbursement network, Oppenheimer details the intricacies of launching new markets and maintaining a seamless customer experience. He also shares his personal growth journey as a leader, highlighting the importance of continuous feedback and intentionality in development.
It’s a great conversation with Matt and when you listen, you get the impression that he’s been very thoughtful in how he’s built Remitly – both products and culture – and how he’s evolved at the helm.
Matt Oppenheimer is my guest today on the Tearsheet Podcast. -
On today’s episode, we sit down with Sol Lax, the CEO of Revenued, to dive into the intricacies of small business lending. Lax shares his journey from managing Merchant Cash Advances (MCA) to leading Revenued, a company focused on providing financial solutions for small businesses, particularly those with subprime FICO scores. With a background rich in financial innovation and a keen understanding of small business needs, Lax offers insights into the challenges and opportunities in the subprime lending space.
“Merchant Cash Advances (MCA) were a necessary but imperfect tool for small businesses,” Lax explains. “We saw an opportunity to create a more flexible and tailored financial product.”
The Big Ideas
Lax emphasizes the need for flexible financial products. “MCAs are too rigid,” he says. “Our Flex Line offers more controllable, predictable, and available capital.”
The PPP era was instrumental in refining Revenued’s operations. “Processing a million PPP loans taught us anti-fraud and scaling,” Lax recounts.
Revenued is harnessing the power of data to provide actionable insights that help in decision making. “We can show small businesses how much they’re spending on bank fees and help them find better options,” Lax explains.
Lax acknowledges the difficulties in subprime lending but sees opportunities. “Subprime small businesses find it challenging to access credit,” he notes. “With a different credit perspective, we can make it happen for them.”
Revenued is looking to expand its offerings through strategic partnerships. “We’re partnering with companies to provide business insurance quotes and other services based on our data,” says Lax.
Through the tumultuous times of the Paycheck Protection Program (PPP), Revenued pivoted and leveraged its platform to process over a million PPP loans. This experience honed their skills in anti-fraud measures and scaling operations, setting the stage for their current offerings. It’s a candid conversation that you won’t want to miss!
Sol Lax is my guest today on the Tearsheet Podcast. -
At Tearsheet, we've been following the growth and maturity of neobanks over the past few years and all in, with the billions of dollars invested, products launched, and customers acquired. The path to good unit economics has been elusive for some.
Joining me on this podcast today is Stuart Sopp, CEO and co-founder of Current. In this episode Stuart gives a behind-the-scenes look at how Current has managed to thrive throughout the fintech winter, by adjusting the dial on its marketing spend without compromising its growth. Stewart also delivers a masterclass in product development and finding the right product-market fit for digital financial products.
Sopp dives into Current’s development pipeline and the go-to-market strategy behind its new Earned Wage Access product and credit builder card, as well as what he's seeing in demand for these new products. It's a conversation about what it takes to build a neobank that doesn't only survive, but thrive. -
I had the pleasure of speaking with Jameson Troutman, Head of Product at Chase for Business. With over 20 years of experience in financial services, Jameson shared valuable insights into the current state of small and medium-sized businesses (SMBs) in the U.S. and the innovative solutions Chase is offering to support them.
As Jameson puts it, “Small businesses in general are optimistic. They love supporting their customers and have a strong belief in their ability to power through any challenges.” This optimism is crucial, especially as SMBs navigate macroeconomic challenges such as inflation and cash flow management.
The current state of SMBs in the U.S.
Jameson emphasizes that despite economic challenges, the overall sentiment among small businesses remains positive. “We survey about 500 small businesses on a regular basis every month,” he explains. The data reveals that while 63% of SMBs are feeling the impact of macroeconomic forces like inflation and cash flow issues, they remain confident about their growth prospects. This optimism is fueled by their passion and creativity in overcoming daily challenges.
Addressing SMB’s cash flow challenges
One of the perennial issues for SMBs is managing cash flow. Jameson highlights that Chase is actively working to provide solutions that help businesses manage their receivables and payables more efficiently. “We’re bringing out new invoicing solutions and additional abilities to get paid faster through some of our real-time payments capabilities,” he shares. These innovations are designed to help SMBs maintain a healthy cash flow, which is critical in today’s economic environment.
Innovative payment solutions
Chase has recently launched several new capabilities aimed at simplifying financial operations for SMBs. One such solution is the faster payments capability, which allows businesses to choose how quickly they want their payments to be processed. “The flexibility gives them a lot of control,” Jameson notes. This feature helps SMBs manage their cash flow more effectively and can even provide preferential treatment from suppliers due to immediate payment options.
Enhanced invoicing capabilities for SMBs
Chase’s new invoicing capability is another new impactful product for Chase clients. This tool allows business owners to create, customize, and send invoices directly from their digital experience. “It saves them time because they don’t have to do manual reconciliation,” Jameson explains. The system supports multiple payment methods and auto-reconciles transactions, streamlining the entire invoicing process and improving cash flow management.
Leveraging customer insights
To help SMBs grow and drive revenue, Chase is launching a new data-driven product called Customer Insights. This tool provides anonymized transaction data to help businesses understand sales patterns and customer behavior. “It allows them to figure out how they tighten and get smarter about their marketing dollars,” Jameson says. This valuable data helps businesses make informed decisions about staffing, marketing, and other operational aspects. -
On our exploratory journey of what it takes to build world-class products in financial service, today we have a conversation with Herman Man, the Chief Product Officer at Bluevine. We sat down with him to discuss how the fintech company is revolutionizing small business banking. He shares how Bluevine aims to serve as a comprehensive financial OS for small businesses, providing a suite of solutions that includes business checking accounts, accounts payable solutions, and lending and credit services. "Our goal always was to really be the financial OS, if so to speak, for these small businesses," Herman explains.
The conversation delves into Bluevine's origins, the evolving needs of small businesses, and the innovative approaches they are taking to meet those needs. This narrative weaves together Mann's insights, providing valuable guidance for industry professionals and stakeholders.
Herman Mann is my guest today on the Tearsheet Podcast. -
In this episode of the Tearsheet Podcast, I am joined by Irana Wasti, Chief Product Officer at BILL. Irana has a background in product management and a strong passion for serving SMBs worldwide. Throughout her career, Irana has focused on developing tools to assist SMBs in starting, growing, and thriving. She emphasizes the importance of scalable and user-friendly technology solutions that cater to the evolving needs of SMBs. As the fintech industry continues to grow and adapt, Bill.com stands at the forefront of providing integrated financial operations solutions for SMBs.
In this episode, discover more about how Irana Wasti and the team at Bill are impacting financial management for SMBs through software and payment solutions. Learn about the impact of AI on decision-making processes, the evolution of SMB tech stacks, and the strategies employed by BILL to empower SMB owners in optimizing their cash flow. -
Earlier this year, we first heard news from Revolut and then Nubank launching mobile services. At the time, it just seemed like a story about cross marketing and selling. Both neobanks have large audiences, and selling a mobile plan would likely make some ancillary money.
A few years ago, things were happening in the reverse direction – it seemed the big US telephony companies were all interested in getting into banking. A few offerings were launched but not much really came of it.
But it feels like something is different now. Both Revolut and Nubank partnered with Gigs, which has been referred to as the Stripe of mobile. As co-founder and CEO Hermann Frank said in TechCrunch, these firms are working to “create an ecosystem where banking acts as a hub for multiple value-added services.”
“Bundling mobile plans represents a powerful lever for neobanks to turn irregular users into monthly paying subscribers, encourage upgrades to premium features, and create an ecosystem where banking acts as a hub for multiple value-added services,” he said.
Hermann joins us on the Tearsheet Podcast. We explore how traditional phone plans, once mere commodities, are transforming into extensible platforms for innovation. Hermann shares insights on how programmable connectivity enables neobanks to create sticky, world-class digital experiences that surpass the limitations of conventional telecom services.
Hermann Frank is our guest on the Tearsheet Podcast. -
We’re continuing on this exploration of what it takes to build world-class products in financial services. Today, we have a fascinating conversation with Melissa Douros, the Chief Product Officer at Green Dot.
Green Dot is an interesting amalgamation – it’s one of the first banking as a service companies. But it’s also a bank. With a configurable platform, Green Dot has carved out a kind of a unique space in the industry, as an OG fintech/bank.
In this episode, Melissa shares her insights on digital transformation, product development strategies, and the role of emerging technologies in the fintech space. With over 20 years of experience in financial services, she brings a wealth of knowledge and a forward-thinking approach to her role at Green Dot.
We delve into topics such as what it takes to build the best banking experience, accelerating partner onboarding, leveraging data for strategic insights, and exploring cutting-edge technologies like AI and biometrics. Melissa's passion for delivering exceptional customer experiences shines through as she discusses the pillars of a successful product strategy.
Whether you're a fintech enthusiast, a product professional, or simply interested in the future of banking, this conversation is sure to provide valuable insights and thought-provoking perspectives.
The big ideas
Focus on delivering the best customer experience. "Our real focus is having people giving people the ability to transact with us the way that they want to."
Have a clear long term vision while executing short term goals. "How do we create that roadmap within each one of those that’s going to deliver on our vision?"
Understand partners' needs and build tailored solutions. "We build out the solutions for them. So while we're showing them the things that we have, and the things that we can do, we're truly understanding where their problems are and their pain points."
Build reusable features to accelerate delivery. "We want to make sure that we have this fantastic reusable architecture, we actually have a team right now and an offsite figuring out an exact way to do that for a partner opportunity."
Use emerging tech like AI to solve specific problems. "I want to know what problems we have to solve? And then how are we going to use an emerging technology to do so." -
Joining us today is Cory Kampfer, President of Small Business Lending at Enova, which operates the leading small business lending brands OnDeck and Headway Capital.
Cory has been immersed in the small business lending space since 2011 when he joined OnDeck. Over his tenure, he's witnessed the evolution of fintech lending and how it has transformed access to capital for Main Street businesses like retailers, contractors, accountants and more.
In this episode, Cory provides his unique perspective on the key financial needs and challenges facing small businesses today based on data insights from Enova's $18 billion in originated loans. He discusses how fintech lenders like OnDeck are able to better service this market compared to traditional banks and other financing sources.
Cory also shares how the borrower experience and application process has progressed over the years to become quicker and more digital-friendly. We'll learn what metrics and approaches Enova uses to continually improve that journey.
Whether you're a small business owner, entrepreneur, or just interested in the lending landscape, this is an insightful discussion you won't want to miss. Let's dive in!
The big ideas
SMBs struggle to access financing from traditional banks: "There still is a real gap in terms of traditional banks and financing sources lending to small businesses, not because I don't think they may want to, but they're just not calibrated to do it very well."
Online lending has become more accepted and appealing to SMBs: "What we see more that's very different from what we started with is, people, in many cases, go first to an online lender, because the application process is just so quick and easy. And they can get the answer that they need."
Using technology and data analytics is key to efficiently underwriting SMB loans: "We need to leverage technology. We have lending algorithms that help us through machine learning to give offers in a much more automated way...you need to leverage the data and the analytics, which our teams ingest, and then can give you a loan offer in the matter of minutes or hours."
A smooth application experience is crucial for attracting and retaining SMB borrowers: "In the application process, we want it to be a quick and easy process for them to be able to get through it...it's great to see that kind of repeat traffic because obviously what we did is working to help them grow their business."
SMBs are optimistic about growth despite challenges:
"The survey we just did, what it screams is that small businesses are very optimistic. They're hiring – you can see that in the data in terms of their investing more in employees. That's kind of putting their money, where their mouth is." -
Today, we're diving into the modern CFO stack, including corporate spend management and financial tech with our guest - Ben Gammell, the CFO of Brex.
Brex has been shaking up how companies large and small approach spending, providing an integrated platform for everything from corporate cards to spend analytics. It's been quite a journey for Ben, who started at Brex just as the firm was getting off the ground with 15 employees.
Ben gives us an inside look at Brex's evolution from scrappy startup to serving over 120 public companies today. We'll learn how the CFO role has transformed, expanding well beyond just finance into true cross-functional business partnership.
Ben doesn't hold back - offering refreshing insights about navigating the IPO journey for Brex clients – but also for Brex itself, managing finances through turbulent times, and the key transitions every CFO faces as their company goes public. You'll want to take notes!
But don't worry, we'll keep it fun too by tapping into Ben's lead generation skills honed from his Goldman days. Who knows, you may walk away wanting to sign up for Brex as a customer yourself!
So get ready for an engaging discussion blending savvy business strategy with the realities of life as a startup CFO. Settle in and let's get started with Ben Gammell of Brex.
The big ideas
Brex has evolved from serving just startups to also catering to larger enterprise clients, including public companies: "I think there's been a big dynamic of, you know, how do we think about, you know, when we're early stage, we're primarily supporting our businesses with financial services products. But as we moved up into the enterprise customers, there's a greater need for a software solution...We have over 120 public companies on our platform today. Many of them are very much household names, especially in the tech space."
The role of a CFO has expanded beyond just finance to being more integrated with understanding the business drivers and partnering across functions: "I think that there is definitely a case where CFOs are expected to have more of a integrated sense of understanding of the business, I think, even if you look at how finance teams are structured, that's kind of gone the trend where it's, you know, it's having embedded teams within different functions, providing kind of finance support."
Brex is taking time in 2023 to integrate their products into a seamless enterprise solution rather than building new products rapidly: "A big hairy goal is just making sure that we have a really great product from a user experience perspective, and making sure that all the products we've built over the last several years, really work seamlessly with one another and really integrated in a really delightful experience for our customers."
The CFO community is surprisingly collaborative and tight-knit, willing to share learnings: "I think it's an amazingly collaborative community, which I think is fantastic, especially for more new entrants, such as myself, I think there's definitely an openness to help each other out."
There are key transitions a CFO needs to make as a company goes public around measuring success beyond just valuation: "I think there's this transition phase, especially the CFOs have to go through, you know, going up to an IPO of making sure the company measures its success and things that aren't just what is the value of the company? Because I think if you do that you're setting yourself up for failure." -
Welcome to the Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller.
What's up FinTech fam? On today's episode, we're going deep on an innovative new way to tap into your home's equity - without taking on more debt.
Our guest is John Green, co-founder and CEO of Nada, the first SEC-qualified platform allowing homeowners to access their home equity in exchange for a share of the future appreciated value. John breaks down how Nada's unique "home equity investment agreements" provide much-needed liquidity for owners while offering investors access to the $30 trillion residential real estate market.
We learn about the multi-year journey John and his team undertook to navigate the regulatory minefields of consumer finance and securities laws. John pulls back the curtain on Nada's business model, including their creative distribution partnerships and their plans to take these equity funds public as REITs.
You'll hear John's bold vision to make home equity as liquid and accessible as checking your savings account balance. From debt relief to fueling consumer spending, he shares how unlocking this massive asset class could drive huge economic empowerment.
John also gets candid about leadership lessons he's learned as an "unreluctant extrovert" and former full-time punk rocker! It's an insightful discussion at the intersection of fintech disruption, regulatory innovation, and an audacious founder's journey.
Join us for this fascinating look into making one of the largest asset classes finally available to everyone. Let's go! -
On today's episode, we're going behind the scenes at one of the most successful money apps out there - Cash App. Our special guest is Ryan Budd, the head of financial products at Cash App, and he's giving us an inside look at Cash App's evolution into a financial powerhouse.
Cash App started as a simple way to send money to friends, but as Ryan explains, it has become so much more. We're talking full-service banking, investing, crypto trading, tax services - the works! Ryan opens up about Cash App's bold vision to be a "one-stop shop" for all your money needs.
But how has this ambitious fintech company maintained its startup hustle and breakneck innovation pace even as it has exploded to over 57 million monthly users? Ryan pulls back the curtain on Cash App's unique team structure filled with "mini CEOs" laser-focused on different product verticals.
He also shares insights into Cash App's drive to bank the underbanked and economically empower communities that have been overlooked by traditional finance. From automated money management to increasing access to credit, Cash App wants to be the #1 choice for how people take control of their financial lives.
Ryan maps out their goal to create the "next gen community bank" by intelligently merging banking, commerce, and that powerful network effect. It's a candid conversation that you won't want to miss!
The big ideas
Cash App as a Comprehensive Financial Platform
Ryan highlights Cash App's evolution from a money transfer service to a comprehensive financial platform: "Everyone knows Cash App has this place to send money to their friends and their families. But a lot of them don't really realise that we've become so much more than that."
Focus on Banking the Base
Cash App aims to deepen its user engagement by becoming the primary banking service for its users: "When we think about banking the base, it's how do we get more customers to actually use us as their primary banking utility?"
Automation and Financial Health
The platform's automation features aim to simplify financial management for users: "You can deposit your paycheck and then we rolled out this auto allocation feature a few months back automatically set a percentage of it to savings, automatically set a percent to investing into Bitcoin."
Incentives to Retain User Funds
Cash App provides significant incentives for users to keep their money within the app, such as high savings yields and overdraft features: "If you deposit your paycheck to Cash App, you get 4.5% savings yield, you get this incredible overdraft feature that allows you to go negative without any interest or fees or anything of the sort."
Synergy Between Cash App and Square
Integrating Cash App with Square's merchant services enhances user experience and creates a seamless ecosystem: "I'm sure you've probably seen at Square point of sale systems, there's oftentimes a little Cash App barcode that's there that you can scan and use Cash App Pay."
Innovative Team Structure and Culture
Cash App's success is driven by a lean, autonomous team structure that empowers employees to innovate: "Every single person knows that they're supposed to own that vertical and they look at name X competitor in that space, and they say we're going to beat them... And they're really incentivized and empowered to kind of really think outside the box and push things." -
Welcome to the Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller.
Today I'm joined by Luke Voiles, CEO of Pipe, a high profile revenue-based lender that’s evolving into a platform – we’ll talk a lot about this evolution.
Luke has had an extensive career journey that has prepared him for his role at Pipe. After starting in private equity, he joined Intuit where he helped build and lead the QuickBooks Capital team, providing capital to small businesses during the PPP loan program. He then went to Square to run their banking division before being recruited to join Pipe as CEO. I’ve actually interviewed Luke in each one of these roles and it’s been fascinating for me to watch his own growth as a product-driven leader.
In our conversation, Luke shares insights from his experience at companies like Intuit and Square that have shaped his leadership approach and methodology for building products. We discuss how he has applied lessons around having a clear mission, focusing on the customer experience, and balancing speed with compliance in regulated industries like fintech.
Luke provides a look inside Pipe's evolution from its original vision to the newly launched "Capital as a Service" offering. He explains the strategic prioritization that enabled them to build a scalable product quickly. We also get a preview into Pipe's future plans, including AI-powered tools to streamline operations for small business owners.
Whether you're an entrepreneur, operator at a startup, or just interested in financial technology and product development, I think you'll find Luke's perspectives insightful. So enjoy my conversation with Luke Voiles of Pipe. -
Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller
Banks and other FIs continue to look for higher engagement with their customers. Logging into an account and refreshing a balance doesn’t create relationships. So, what’s an FI to do to drive real engagement. Michigan State University Federal Credit Union has rolled out a loyalty program that delivers gift cards directly to customers inside their accounts by merchants trying to acquire new customers. The program uses customer data to target offers that matter. And this is just the beginning as banks and credit unions find ways to extend their value proposition, building and strengthening relationships with their customers.
I’m joined by Ben Maxim, Chief Innovation Officer at Michigan State University Federal Credit Union, and Brendan Grove, CTO of PrizeOut, who are to share their insights on how financial institutions are looking to provide more value to their customers, extended beyond that tried and true toaster.
We’ll discuss the power of partnerships between credit unions and fintech companies, and explore topics like the evolution of loyalty solutions, the challenges of integrating new technologies into existing credit union infrastructures, and the exciting possibilities for enhancing member engagement through personalized data-driven experiences.
So, whether you're a bank or credit union product person, a fintech aficionado, or just curious about the future of banking, you're in for a treat. Let's get started! -
We recently held a LinkedIn Live event, entitled "Card Launch 101," where we dove deep into the strategies, insights, and best practices for launching and growing successful card products in the fintech and banking industries.
Featuring industry experts:
Scott Johnson, Vice President of Revenue at Galileo Financial Technologies
Marc Butterfield, SVP of Innovation and Disruption at FNBO
Jack Rubin, SVP of Consumer Financial Solutions at DailyPay
Listen is as these professionals share their wealth of knowledge and experience in scaling partnerships, driving innovation, and navigating the complexities of launching card products in today's dynamic landscape.
Here's what we discussed:
Understanding Card Launches: Gain insights into the key components of a successful card launch strategy, including strategic planning, market research, and product development.
Identifying Your Audience: Learn how to identify and understand your target audience through effective market research and data analysis.
Creating Your Card: Explore the process of designing and developing card products, from features and branding to user experience and regulatory compliance.
Partnerships and Business Development: Discover the role of partnerships in scaling card programs and expanding market reach, with real-world examples of successful partnership strategies.
Marketing and Promotion: Get insider tips on marketing and promoting your card product effectively, including targeted messaging, branding, and customer acquisition tactics.
Case Studies and Success Stories: Hear real-world examples of successful card launches and gain valuable insights and lessons learned from industry leaders.
To download Tearsheet's Card Guide 101, from ideating, partnering, building, launching and optimizing a card program, go to http://tearsheet.co/cardguide - Laat meer zien
