Breaking Banks

By: Breaking Banks - The #1 Global Fintech Podcast
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  • Summary

  • The #1 global fintech radio show and podcast. Every week we explore the personalities, startups, innovators, and industry players driving disruption in financial services; from Incumbents to unicorns, and from the latest cutting edge technology to the people who are using it to help to create a more innovative, inclusive and healthy financial future.
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Episodes
  • Will 2025 Be A Stellar Year? Top Banking and Fintech Predictions

    Will 2025 Be A Stellar Year? Top Banking and Fintech Predictions
    Jan 9 2025
    In This Episode 2024 is a wrap! Listen as industry leaders and fintech influencers share insights on the year that was before turning the lens forward to 2025. What will be hot in this new year? Back by popular demand, Breaking Banks hosts Brett King and JP Nicols assemble banking industry leaders and fintech influencers to get their takes and predictions on what 2025 has in store for the banking industry. Joining the discussion are Jim Marous (The Financial Brand, Banking Transformed), Ron Shevlin (Chief Research Officer, Cornerstone Advisors and Forbes Contributor), and Mary Wisniewski (Cornerstone Advisors, Money Isn’t Everything). Together, they explore critical topics shaping the industry, from fraud, risk, and efficiency to cutting-edge innovations like Agentic AI and LLMs, as well as developments in open banking, 1033, and the CFPB. And what about the lingering impact of the Synapse story from 2024? Will 2025 bring a reckoning, or are brighter days ahead for the industry? Tune in for a lively and engaging conversation packed with expert insights and bold predictions. Happy New Year from the team at Breaking Banks https://www.youtube.com/watch?v=yahPylU7TCw
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    49 mins
  • Trust, Value & What It Means To Be Digital in Banking

    Trust, Value & What It Means To Be Digital in Banking
    Dec 19 2024
    In This Episode Regular listeners of Breaking Banks are likely familiar with the Killing It series, hosted by Jason Henrichs and Alex Johnson, where they explore candid stories of success, failure, and the pivotal and sometimes tough decisions that drive the journey from VCs to unicorns in the high stakes world of entrepreneurship. (If you’re not, check it out!) In this episode, Brett King shifts gears with a “Starting It” theme, sitting down with industry veteran Anthony Thomson —an entrepreneur, marketer, speaker, author, and founder of Metro Bank, Atom, and 86 400. Metro Bank challenged traditional banking in the UK, while Atom and 86 400 brought innovation as neo-banks in different markets, with 86 400 later acquired by NAB (National Australia Bank) and then merged into UBank. Join this enlightening discussion as Brett and Anthony dive into the unique missions and lessons behind each of these groundbreaking ventures. And who knows? You might even get a sneak peek at the next big breakthrough in the industry! Read the entire transcript here. Podcast Content: Chapter 1: (00:00) - Introduction and Setting the Scene Brett King and Jason Henricks open the episode, reflecting on their history of exploring financial disruption. Special guest Anthony Thompson joins from Abu Dhabi, sharing memories of past debates on the future of banking. Chapter 2: (03:45) - The Genesis of Metro Bank Anthony recounts his journey from marketing in financial services to founding Metro Bank. The discussion highlights how Metro Bank disrupted traditional banking by focusing on customer-centric value and trust. Chapter 3: (12:30) - Cognitive vs. Associative Trust in Banking The hosts and guest delve into the dual dimensions of trust: competence versus intent. Anthony explains how Metro Bank leveraged customer-centric policies, like dog-friendly branches, to foster associative trust. Chapter 4: (20:15) - The Shift to Digital Banking Anthony reflects on the rise of digital banking, including his transition to founding Atom Bank. The conversation examines how mobile banking became the cornerstone of modern financial services. Chapter 5: (28:50) - Building Atom Bank The discussion explores Atom Bank’s founding principles, focusing on delivering a superior mobile experience and balancing liabilities with assets. Anthony contrasts Atom’s approach with competitors like Monzo and Starling. Chapter 6: (40:00) - Lessons Learned and 86 400 Anthony describes his move to Australia to establish 86 400. He shares how lessons from Atom influenced his strategy, particularly the importance of engagement and transaction accounts. Chapter 7: (51:30) - Challenges in Traditional Banking Transformation The conversation shifts to why traditional banks struggle with digital transformation. Anthony and Brett critique cultural and regulatory hurdles faced by legacy institutions. Chapter 8: (58:10) - The Role of Regulators in a Digital World Anthony discusses how regulators worldwide are adapting to digital banking innovations, emphasizing the importance of competition and better consumer outcomes. Chapter 9: (1:06:20) - Reflections and Future of Banking Anthony shares his hopes for the future of banking, emphasizing customer-centricity as the industry’s ultimate goal. Brett and Anthony speculate on the next breakthrough, pointing to adjacencies and AI in banking. Chapter 10: (1:12:50) - Closing Thoughts and Takeaways The hosts summarize the key themes of the episode, including trust, customer value, and the evolution of banking. They close with a call to action for listeners to engage with the podcast and its community. Related Content: Big And Small Preparing For Shifting Generational Expectations Episode 17: You can bank on it: trust and winning customers from incumbent banks Episode 550: Cease and Desist Build The Necessary And Useful ...
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    1 hr and 7 mins
  • Reimagining Digital Banking: Varo Bank’s Vision for Financial Inclusion

    Reimagining Digital Banking: Varo Bank’s Vision for Financial Inclusion
    Dec 12 2024
    This week, host Brett King sits down with Colin Walsh, Founder and CEO of Varo Bank, to explore the journey of building the first all-digital, FDIC-insured de novo bank in U.S. history. Designed to improve financial health and serve a diverse range of customers—from those with financial abundance to those facing economic hardship—Varo Bank is on a mission to create a banking experience that truly works for everyone. With the unique distinction of being the first consumer fintech to be granted a bank charter in US history, Varo is redefining banking with innovative products tailored to modern consumers' needs. From managing fraud and credit risk to building trust and leveraging a cutting-edge tech stack, they delve into the strategies that power Varo’s ability to stay agile and customer-focused. Whether it’s delivering accessible savings and lending solutions or tackling the challenges of financial inclusion, Varo Bank’s story is one of innovation and impact. Tune in for a wide-ranging discussion on how Varo is using digital banking to create financial inclusion by addressing the real financial challenges that Americans face every day. Read the entire transcript here. Podcast Content: Chapter 1: (00:00) - Introduction and Varo Bank's Unique Path Brett King introduces the episode and welcomes Colin Walsh, founder and CEO of Varo Bank, to discuss their journey as the first pure-play digital bank with a de novo charter. Chapter 2: (04:15) - Navigating Industry Challenges Colin reflects on the pandemic's impact, funding market changes, and navigating regulatory challenges while focusing on profitability and customer-centric innovation. Chapter 3: (10:45) - The De Novo Advantage A discussion on Varo's strategic decision to pursue a de novo national bank charter, contrasting it with fintech sponsorship models and highlighting its benefits. Chapter 4: (16:30) - Building a Competitive Tech Stack Colin details Varo’s proprietary technology investments, including AI, machine learning, and the migration to React Native, ensuring agility and innovation in product offerings. Chapter 5: (24:50) - Lending Innovation and Financial Inclusion Varo's approach to cash-flow-based lending and leveraging technology to responsibly serve non-prime, paycheck-to-paycheck consumers is explored in depth. Chapter 6: (32:10) - Tackling Fraud with Technology The team discusses how Varo combats sophisticated fraud through advanced tech and the advantages of being a technology-first bank in risk management. Chapter 7: (37:40) - Scaling with Discipline A look at Varo’s approach to disciplined customer acquisition, organic growth, and creating high lifetime value customers through deep engagement. Chapter 8: (44:00) - The Future of Financial Inclusion Colin explains Varo’s mission to become a financial operating system for underserved Americans and discusses innovations like embedded financial tools. Chapter 9: (50:30) - IPO Plans and Market Consolidation The conversation shifts to Varo’s long-term goals, including profitability milestones, potential IPO timelines, and strategic opportunities in a consolidating market. Chapter 10: (58:15) - Looking Ahead Colin previews upcoming initiatives, including a new app launch and partnerships, and emphasizes Varo’s role in addressing financial stress for customers. Related Content: Special Episode: Navigating the Crisis Episode 553: The Secret of NIM Episode 560: Killing It: Ohad Samet on Reimagining Debt Collection Huawei Does Gen-Fi A Digital Banking Revolution in SEA: GXBank and Mastercard https://www.youtube.com/watch?v=1lIqYB3d4IY
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    40 mins

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