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.

Card.com's Ben Katz
Card.com’s Ben Katz

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”

Podcasts

‘It’s all about embedding financial solutions at a customer’s point of need’: Plaid and Accenture on the future of embedded finance

  • Embedded finance is enabling new players from outside of finance to offer financing products.
  • Plaid and Accenture have released research on embedded finance, its roots and history, and where it's headed.
Zachary Miller | July 23, 2021
Podcasts

‘My mandate is to find great partners that can reach millions of consumers’: Green Dot’s Amit Parikh

  • Hailing from Apple and Discover, Amit Parikh recently joined Green Dot to run its banking as a service platform.
  • The executive joins the Tearsheet Podcast to discuss opportunities in platform banking and how to service top brands' financial offerings.
Zachary Miller | July 14, 2021
Podcasts

‘A real underdog mentality permeates this place’: Chase’s chief product officer, Allison Beer

  • With 56 million users, Chase is an at-scale digital bank.
  • Chief Product Officer Allison Beer joins us on the podcast to discuss UX design, payments trends, and the bank's product pipeline.
Zachary Miller | July 12, 2021
Podcasts

‘Solving corporate payments is about context, not about who pays’: Mesh Payments’ Oded Zehavi

  • Mesh Payments uses a foothold in SaaS payments to help corporates with their spend.
  • CEO Oded Zehavi joins the Tearsheet Podcast to discuss the genesis of the firm and why the market for corporate payments is so interesting.
Zachary Miller | July 08, 2021
Podcasts

‘Sitting in the back of an Uber, we understood drivers have a pain point’: Payfare’s Marco Margiotta

  • Gig workers increasingly want access to the wages as they earn them.
  • Payfare works with firms like Uber and DoorDash to help their workers get paid more frequently.
Zachary Miller | June 28, 2021
More Articles