Podcasts

[podcast] How to build a bank with no branches with Card.com’s Ben Katz

close

Email a Friend

[podcast] How to build a bank with no branches with Card.com’s Ben Katz
Wall Street has been shedding Main Street bank branches of late and it doesn’t appear like it’s letting up any time soon. [caption id="attachment_7200" align="alignright" width="200"]Card.com's Ben Katz Card.com's Ben Katz[/caption] As more financial transactions occur over the web, the purpose of a bank branch is changing and for many banks, they just can’t make them profitable anymore. Upstarts smell an opportunity and they’re stepping in by creating branch-light banking alternatives. Ben Katz, founder and CEO of Card.com, joins us on the Tradestreaming Podcast. His firm provides most basic banking functions without any physical branches. When you talk to Ben, he likes to make a simple analogy that drives home how his firm and others are forming an alternative to a bank branch: Just as Netflix is to Blockbuster, Card.com is to Wells Fargo. We spend the bulk of our conversation discussing how his debit card solution, tied to an affinity or brand his users love, can compete against the branch footprint of some of the largest U.S. banks.

Listen to the FULL episode

Here’s what we discuss in this episode of the Tradestreaming Podcast
  • How branded financial services resonate with customers differently that incubent offerings
  • How, by partnering with non-financial brands that people love, financial services can tap millions of potential customers on Facebook cost-effectively
  • Why banks struggle with the cost-structure required to service retail clients
  • How customer service is handled for financial services that function without physical branches
  • The evolution away from call-center focused service to self-service solutions that can actually provide better and more accurate service
  • Tying proactive telephone service to a user’s app in an effort to proactively identify a user’s service question before he or she begins dialing the 800 service number
  • Whether bank licensing makes any sense for financial services operating outside of lending

More resources

Even more resources

0 comments on “[podcast] How to build a bank with no branches with Card.com’s Ben Katz”

Payments, Power of Payments Podcast

Power of Payments Ep. 22: ‘Frankly, the most important asset for SMB owners is time’ – Chase’s Brad Brodigan

  • Brad Brodigan, managing director and global head of SMB payments at Chase, joins host Ismail Umar on this week’s podcast.
  • He discusses the most important trends he’s seeing in SMB payments, the kinds of attributes SMBs look for in a payment processor, and how their needs differ from those of enterprise and retail customers.
Ismail Umar | January 27, 2023
Podcasts

Behind the launch of the QuickBooks Business Network with Intuit’s Juliana Berger

  • Intuit is looking to get a bigger payments chunk of the $2 trillion in invoices it tracks on QuickBooks.
  • The firm has launched a B2B business network aimed at targeting larger firms with payments automation.
Zachary Miller | January 26, 2023
Podcasts

Behind Citi’s move to become a global partner bank, with Chafic Haddad

  • If 2022 was the year of launching partnerships between FIs and tech firms, this year is more about fine-tuning them.
  • Tearsheet sat down with Chafic Haddad to discuss what Citi offers fintechs and the challenges and opportunities in providing these firms with global transaction and trade capabilities. 
Zachary Miller | January 18, 2023
Podcasts

Steez Podcast #5: Gen Zers – the sustainable generation

  • Gen Z and Millennials make up 50% of the world’s population. And 75% agree that their investment decisions can influence climate change.
  • They are not just investing to align with their values. They're actively driving change with their purchasing preferences and with every transaction.
Tearsheet Editors | January 18, 2023
Payments, Power of Payments Podcast

Power of Payments Ep. 21: 10 predictions for the payments industry in 2023

  • In the first Power of Payments episode of 2023, we discuss what the near future looks like for the payments industry.
  • Here are 10 trends that are likely to shape the payments landscape this year.
Ismail Umar | January 13, 2023
More Articles