In this episode, Anthony Soohoo, CEO of MoneyGram, shares his vision for transforming one of the world's largest global payments networks through what he calls a "refounder mindset." Drawing from his experience leading digital transformations at major companies like Walmart and CBS, Soohoo discusses how MoneyGram is modernizing its platform while leveraging its incredible assets: a network of 450,000 retail locations spanning over 200 countries and 20,000 payment corridors.

He explores the company's strategic partnerships with Plaid for seamless bank connectivity, collaborations with Visa and Mastercard, and their thoughtful approach to cryptocurrency through stablecoin partnerships with Stellar Foundation and Circle. Perhaps most ambitiously, Soohoo outlines his five-year goal of positioning MoneyGram not just as a remittance company, but as a global payments powerhouse with the scale and recognition of Visa or Mastercard, all while maintaining the company's core mission of democratizing finance for consumers worldwide.

In this podcast you will learn:

• The three things that attracted Anthony to the opportunity at MoneyGram.
• How he describes MoneyGram today.
• The most popular remittance corridors for US consumers.
• The attributes of a typical MoneyGram customer.
• Anthony’s concept of re-founding and how he is bringing that mindset to MoneyGram.
• The lessons he has learned in his first six months as CEO.
• How the money actually moves internationally.
• How they are partnering with Plaid, as well as Visa and Mastercard.
• Why MoneyGram believes the future of finance is crypto.
• How Anthony views the alternative payments rails being developed.
• The biggest challenge for MoneyGram today.
• His vision for the next five years.

Connect with Fintech One-on-One:

• Tweet me @PeterRenton
• Connect with me on LinkedIn
• Find previous Fintech One-on-One episodes

When it comes to fintechs getting bank charters we are entering a golden age. With zero fintech-oriented bank applications approved in the Biden administration we already have several fintechs with shiny new bank charters just a few months into the new administration. So, if you are a fintech and are thinking about bank charters now is the time.

To break all this down, I was delighted to chat recently with Michele Alt, Co-Founder and Managing Director at Klaros Group. She was last on the show in 2021 and certainly a lot has changed since then. Michele takes us through the different types of charters and explains the different options for fintech companies seeking charters.

On this podcast you will learn:

• The fundamental change in attitude for bank charters with the new administration in DC.
• The two paths that fintechs can take to get a bank charter.
• The pros and cons for each of these paths.
• Michele’s thoughts on the SmartBiz acquisition of Centrust Bank.
• Why she thinks the timelines for bank acquisitions will be shorter from now on.
• The difference between an ILC charter and a regular bank charter.
• Why most ILC banks are located in Utah.
• Why some of the big names in fintech are applying for the MALPB charter in Georgia.
• Why Wyoming created the SPDI charter.
• How the Federal Reserve is reacting to this change in the new bank formation environment.
• Why some of the crypto companies are looking for federal bank charters.
• Michele’s perspective on the big tech companies getting bank charters.
• What she would say if Amazon came calling looking to explore an ILC charter.
• What the fintech banking landscape might look like at the end of the Trump administration.

Connect with Fintech One-on-One:

• Tweet me @PeterRenton
• Connect with me on LinkedIn
• Find previous Fintech One-on-One episodes

Moving money internationally is mission-critical for many businesses in the world, particularly those outside the U.S. But, today, for businesses using traditional banks, moving money across borders is often expensive, slow and a terrible user experience. Wherever you have that combination you can be sure a fintech company is attacking the problem aggressively, which is certainly the case here.

My next guest on the Fintech One-on-One podcast is Ravi Adusumilli, the President and GM of the Americas for Airwallex. They have built their own payments rails, as an alternative to SWIFT, to serve businesses who want to move money and accept payments internationally. How they have done that makes for a fascinating conversation.

In this podcast you will learn:

• The target market for Airwallex in the Americas.
• How they help businesses expand internationally.
• Why they decided to build their own payments rails as an alternative to SWIFT.
• How the money moves exactly.
• The percentage of their payments that move in real time.
• What was behind their acquisition of MexPage in Mexico.
• Why they decided to build a business themselves in Brazil.
• How they are working with Brex.
• How Airwallex is able to serve smaller businesses.
• How they help tech companies offer embedded global payments as a profit center.
• How their multi-currency wallets work.
• Ravi’s perspective on stablecoins and other alternative payments rails.
• His view on the future of embedded finance and global payments.

Connect with Fintech One-on-One:

• Tweet me @PeterRenton
• Connect with me on LinkedIn
• Find previous Fintech One-on-One episodes