Tearsheet Podcast: The Business Of Finance

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, we’re joined by Bill Borden, Corporate Vice President, Worldwide Financial Services, at Microsoft, and Suzanne Dann, CEO for the Americas at Wipro. Together, they discuss their collaboration on leveraging Azure OpenAI to enhance generative AI in finance. This partnership focuses on improving customer experiences, streamlining processes, and ensuring responsible AI practices in the financial industry. As Suzanne puts it, “My role is to help clients digitally transform by bringing together the right industry expertise, technology, and integration experience.” Bill adds, “Our goal at Microsoft is to build products and services that truly meet the unique needs of financial institutions.” We’ll explore how cognitive assistants, powered by generative AI, are reshaping customer interactions, loan origi

Gaurav Mittal, Executive Vice President of Ethoca, a Mastercard company, shows that the post-purchase space represents an opportunity for our industry. It's where customers want convenience, autonomy, and trust but many of the players today have not been able to meet their demands. Mittal brings a unique insight into how tools like digital receipts and subscription management delivered within the banking app can improve customer experience. What’s more, this mission to ease post-purchase tasks like cancellations brings with it cost reductions and operational efficiencies for merchants and banks as well — and our guest today tells us how to build for the hard to achieve but ideal solution: a partnership landscape where everybody wins.  To learn more about how merchants and banks can leverage subscription management tools and digital receipts to better serve customers as well as positively impact their bottoms lines download this whitepaper: https://www.library.tearsheet.co/ethocawp

Welcome to the second episode of our de novo community banking series. I’m Sara Khairi, your host and reporter at Teasheet. If you tuned in a couple of weeks ago, you know we kicked things off with a deep dive into Craft Bank's journey in Atlanta, from CEO Ross Mynatt's debut leadership role to its choice of core tech partner and the strategies it used to grow $250 million in assets. This episode builds on that theme, exploring the origin, growth, and technology paths of two other community banks: RockPoint Bank in Tennessee and Moultrie Bank in Georgia. Both banks are relatively young, having been founded during the pandemic, and while they share some commonalities like limited budgets and staffing, they each have unique markets and growth strategies. The variety of perspectives on the same challenges is what makes their story interesting. Joining us are Hamp Johnston, President and CEO of RockPoint Bank, and Donna Lott, President and CEO of Moultrie Bank & Trust. We discuss the origins and development o

Strategic partnerships – those relationships between traditional financial institutions and fintechs – have become really integral as banks seek to modernize their offerings and fintechs aim to scale their operations and get distribution. KeyBank and Qolo have teamed up on an embedded finance offering. On today’s episode, we sit with Jon Briggs, Head of Product and Innovation at KeyBank, and Patricia Montesi, Co-founder and CEO of Qolo. Their collaboration story begins two years ago when a single slide in Qolo's pitch deck caught KeyBank's attention. "We still talk about it today," Montesi recalls. "It was the ‘Series A: Winter Slide’, which was all about how fintech had created this spiderweb ecosystem of suppliers. And sort of put the burden back on banks and corporates to bring it all together." Their shared goal of simplifying fintech sparked a partnership that’s addressing how treasurer think about and use banking. As Briggs explains, "We enter partnerships because they need a lot of mind share, a l

Today's episode of the Tearsheet podcast features Dan Kang, VP of Finance at Mercury. He shares his insights on how the fintech company is reshaping corporate finance for tech founders. Kang has experience in private equity, Square, and Mercury. This background gives him a unique view of financial services for startups and positions the neobank nicely as the IPO window opens wider for more of its clients. His insights are especially valuable in today’s changing financial landscape. "We're excited about the service area that this opens up for Mercury," Kang explains. He discusses the company's recent expansion into personal banking. This move, based on customer demand, shows Mercury's commitment to complete financial solutions for founders.  Kang emphasizes the importance of understanding customer pain points. He states, "It starts with really understanding what are the customer pain points and what are they looking for." This customer-centric approach has led Mercury to develop innovative products. These in

Welcome to Compound Influence, the podcast that dissects the power players shaping the financial services industry. I'm your host, Tearsheet's Zack Miller, joined by my insightful co-host, Josh Liggett. In today's episode, we're diving deep into the world of financial analysis and influence, focusing on a figure who's been making waves in a unique way: Ron Shevlin. Known for his data-driven approach and sharp insights, Ron has carved out a niche as the "analyst's analyst" in our industry. We'll explore how Ron's methodical, sometimes contrarian views are reshaping conversations in banking and fintech. We'll also draw some interesting comparisons to Jim Cramer, whom we discussed in our previous episode, highlighting the diverse ways influence manifests in our field. Whether you're a seasoned veteran or a rising star in financial services, this episode promises to offer valuable insights into the mechanics of influence and the power of nuanced, data-backed perspectives in our rapidly evolving industry. The

Hey, I'm Tearsheet's Sara Khairi. For my very first episode, I decided to step outside the frenetic pace of the Big Apple and dive into the lesser-known banking scene in other states. Community banks have weathered a storm of challenges in recent years, including macroeconomic pressures and the uncertainty following three regional bank failures in 2023. In particular, young community banks launched during the peak of Covid-19 have had to contend with additional complexities due to their timing. These community banks may operate on a smaller scale, but their ambitions rival those of Wall Street giants. As the digital wave sweeps across the globe, these banks are not just staying in the game — they’re hustling to keep pace and stay relevant by adopting emerging technologies. One example is Atlanta's Craft Bank, which opened its doors in 2020, right when the world was facing a pandemic. Primarily a commercial bank with a business-centric focus, Craft Bank currently operates with a team of 19 employees and mana

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, emphas

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.

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 cont

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. Ca

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 suc

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

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 reco

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

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 mu

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 exceptiona