New banks, Podcasts

The Challengers 5: Why would anyone want to be a bank — the rise of BaaS — Wells should heed Buffett

  • This week's episode explores the growing trend of brands introducing financial services
  • It calls into question who and what is a bank: 'People want to bank with the brands they love'
The Challengers 5: Why would anyone want to be a bank — the rise of BaaS — Wells should heed Buffett

On today’s episode, Josh and Zack dive into the rising trend of banking as a service. As companies like Walmart and Apple continue to introduce financial services, they clearly don’t want to be banks. Instead they turn to banking as a service players.

Interestingly, challenger Starling Bank is embarking on a BaaS strategy, much like Amazon does with its AWS group. The young company will continue to grow its retail brand and B2B banking services in parallel.

Also in this episode:

  • South Africa’s first challenger TymeBank uses a hybrid online/offline user acquisition strategy and conversational AI to scale Source
  • Uncle Warren’s admonition for Wells Fargo’s CEO search committee to find someone outside of Wall Street Source
Online Lenders, Podcasts

Mirador’s Trevor Dryer: ‘The world doesn’t need another high price lender’

  • Banks and credit unions are able to compete digitally with non-bank lenders.
  • Mirador helps them compete on speed and customer experience.
Michael Deleon | June 17, 2019
Modern Marketing, Podcasts

Finastra’s Steve Hoke on making community banks more competitive

  • Community banks are feeling a squeeze from national banks and challenger banks moving into their territory.
  • But their physical and local presences can provide them a competitive advantage.
Zack Miller | June 12, 2019
Online Lenders, Podcasts

MSTS’ Brandon Spear on credit as as service: ‘Find a way to solve payments painpoints and you’ll create a real advocate inside a business’

  • MSTS was started by a Fortune 100 to help with fuel payments.
  • Now, the company wants to help large B2B companies solve complex payment issues.
Zack Miller | June 10, 2019
Modern Marketing, Podcasts

‘User experience is the heart and soul of everything’: FIS’ Ellyn Raftery on the evolution of financial services marketing

  • Over the past six and a half years at FIS, Ellyn Raftery has evolved marketing's role.
  • Her team leads the move towards customer journeys, UI/UX and leveraging the voice of the customer.
Zack Miller | June 03, 2019
New banks, Podcasts

Finxact’s Frank Sanchez on building an ecosystem around core banking technology

  • Frank Sanchez has been participating in the core banking tech space for 35 years.
  • He's back with Finxact and wants to go head to head with 'slow' core providers.
Zack Miller | May 31, 2019
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