Fintech One•On•One

Peter Renton

Fintech is eating the world. Join Peter Renton, Co-Founder of Fintech Nexus, every week as he interviews the fintech leaders who are leading the transformation of financial services. If you want to understand what the future will look like for lending, payments, digital banking and more tune in to Fintech One•On•One (formerly the Lend Academy Podcast). read less

#407: Penny Lee of the Financial Technology Association
1w ago
#407: Penny Lee of the Financial Technology Association
The fintech industry has become much more sophisticated in how it engages with lawmakers and regulators in Washington. There are now many people in leadership positions, both within fintech companies and within the trade associations, with deep experience in government who can make sure our voice is heard. And that the issues that are most important to fintech companies are being discussed at the highest levels with Washington.Our next guest on the Fintech One-on-One Podcast is Penny Lee, the CEO of the Financial Technology Association (FTA). She has been around politics and government her entire career and now is bringing her expertise and connections to help the fintech industry engage with leaders in Washington.In this podcast you will learn:What attracted Penny to the role at the FTA.Their mission and the types of fintech companies they represent.Some of the big names on their board.How they are engaging specifically with lawmakers and regulators.Their plans for engaging with some specific state fintech issues.What initiatives have a shot at passing a divided Congress.How they are specifically engaging with the CFPB.The FTA's perspective on FedNow and what it could mean for fintech.How they are supporting the bank-fintech partnership model.How the FTA interacts with other fintech trade associations.What Penny is most excited about for 2023.Connect with Penny on LinkedInConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#406: Carlos Eduardo Brandt of the Central Bank of Brazil
Jan 18 2023
#406: Carlos Eduardo Brandt of the Central Bank of Brazil
Pix is probably the most successful fintech product in the history of the world. It is Brazil's instant payment system that launched in November 2020 and has taken the country by storm. More than 130 million Brazilians now use Pix and for around half of those people, it is the first digital payment tool they have ever used. If you are interested in fintech, you need to understand the Pix phenomenon.Our next guest on the Fintech One-on-One podcast is Carlos Brandt, the Head of the Management & Operations of Pix at the Central Bank of Brazil. I spoke with Carlos at Fintech Nexus LatAm held in Miami on December 13-14 and it was the highlight of the event for many of the attendees.In this podcast you will learn:The role Carlos played in the development of Pix.How his nine-year-old son helped in user experience and design.Why they rolled out Pix to both banks as well as non-banks on day one.Why they mandated all large financial institutions to join.The huge number of people who have done a digital transaction for the first time.What this means for Brazil's economy.How Pix has impacted the growth of e-commerce.How they are encouraging B2B payments.Why the Central Bank of Brazil is opening up Pix's protocols to other central banks.How Pix sits in relation to credit cards.If there is a place for crypto payments rails alongside Pix.How they are working to reduce fraud.What is on the roadmap for 2023 and the next five years.Connect with Carlos on LinkedInConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#405: Don Cardinal of Financial Data Exchange
Jan 13 2023
#405: Don Cardinal of Financial Data Exchange
User-permissioned financial data is becoming a bedrock of fintech innovation. Ever since Plaid came on the scene and enabled us to connect our bank account to other financial institutions, consumers have appreciated the advantages of this concept. But what the industry has really needed is an independent standard for this data sharing.My next guest on the Fintech One-on-One Podcast is Don Cardinal, the Managing Director of the Financial Data Exchange (FDX). This non-profit organization has created a common standard for the secure and convenient access of permissioned consumer and business financial data.In this podcast you will learn:What attracted Don to the opportunity at Financial Data Exchange.Don's work at FS-ISAC and what that organization does.The original vision for FDX and how it has evolved today.The state of open banking in the US today.The five core principles of financial data that FDX adheres to.Details of the FDX API standard they have developed.How that interfaces to the work that Plaid is doing.How the authentication of credentials works.Why biometric authentication is so much better than passwords.Some of the big names who are members are FDX.How they balance the different perspectives of banks, fintechs and consumer groups.The connection between FDX and the Open Financial Exchange (OFX).How they keep their own technology updated.Don's vision for the future of open finance.Connect with Don on LinkedInConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#404: Kevin Greene of Tassat
Jan 6 2023
#404: Kevin Greene of Tassat
While there are plenty of instant payment options for consumer like Cash App, PayPal, Venmo and Zelle. But when it comes to business payments it is a different story. And those aforementioned payments are not really instant, they still settle like all other bank transactions, typically in two business days. This is all about to change.My next guest on the Fintech One-on-One Podcast is Kevin Greene, the Chairman and CEO of Tassat Group. His company has created a blockchain-based instant payment network for banks. It works within existing banking regulations and it is live today processing around $50 billion in payments a month.In this podcast you will learn:What led to the founding of the Tassat Group.The two components that differentiates what Tassat is doing.Why he decided to join as CEO after being on the Board from the beginning.The state of the B2B bank payments market today.What TassatPay does and how it works.The percentage of TassatPay transactions that occurs outside of banking hours.How they might use smart contracts within their payments system.How the flow of funds work for banks on the Digital Interbank Network.The size of bank they are targeting.What is involved in getting this setup at a bank.Why they decided to build their system on a private permissioned blockchain.Why Kevin is super excited about FedNow.The state of blockchain knowledge among bank CEOs today.Their biggest obstacle to getting people comfortable with TassatPay.How they are working with regulators to help them understand.What the payments system will look like in ten years.Connect with Kevin on LinkedInConnect with Tassat on LinkedInConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#403: Brian Kaas of CMFG Ventures
Dec 20 2022
#403: Brian Kaas of CMFG Ventures
The credit union space, like all of financial services, was dramatically impacted by the pandemic. With consumers demanding digital access to financial products the industry had no choice but to embrace fintech offerings. This has presented an opportunity for an organization like CMFG Ventures, the venture capital arm of CUNA Mutual Group.Our next guest on the Fintech One-on-One Podcast is Brian Kaas, the President and Managing Director of CMFG Ventures. His company is focused on making fintech investments that will benefit the credit union space, while at the same time helping to bring together the fintech and credit union communities.In this podcast you will learn:Their founding story and how they fit in with CUNA Mutual Group.The investment thesis of CMFG Ventures.The three main fintech verticals they are focused on.Details of their two investment funds.What the last three years have been like for CMFG.Why they have remained actively investing in 2022.How due diligence has change this year compared to 2021.Why they created their Fintech Forum.The state of play in credit unions today and how they have fared the last couple of years.Why credit unions are more open to fintech partnerships now.How credit unions are positioning themselves to focus on a younger demographic.Why and when they acquire fintech companies and the niche they are focus on there.Brian's vision for the future of the credit industry.The fintech trends he will be following most closely in 2023.Connect with Brian on LinkedInConnect with CMFG Ventures on LinkedInConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#402: Bence Jendruszak of SEON
Dec 17 2022
#402: Bence Jendruszak of SEON
Fraud prevention tools are an essential tool for every company in financial services. Fraud attempts continue to get more sophisticated but thankfully the fraud prevention tools continue to evolve as well to the point where companies should think about creating a complete anti-fraud tech stack.My next guest on the Fintech One-on-One Podcast is Bence Jendruszak. the COO and Co-Founder of SEON. They are one of the most interesting companies in the fraud prevention space as they give away their fraud tools for free on their website. We talk about why they do that and much more in this interview.In this podcast you will learn:The founding story of SEON.The types of fraud that fintech companies need to be focused on today.How they are able to detect fraud.Why they give away their fraud detection products for free on their website.Why they use and collect only publicly available information.How they think about fraudsters reverse engineering their tools.How they can differentiate between a synthetic and a real identity.An explanation of account takeover fraud.Some of the companies that are using SEON.How SEON makes money.Where we are at today in the fight with fraudsters.What data or score they are providing back to their customers.Why fraud attempts increase during the economic downturns.What's on tap for SEON in 2023.Connect with Bence on LinkedInConnect with SEON on LinkedInConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#401: Eytan Bensoussan of NorthOne
Dec 9 2022
#401: Eytan Bensoussan of NorthOne
Consumers have dozens of fintech options when it comes to bank accounts. In the small business space, there are fewer options but recently better choices are emerging. Some fintech companies have thought deeply about small business and have created bank accounts with options tailored just for the small business owner.My next guest on the Fintech One-on-One Podcast is Eytan Bensoussan, the CEO and Founder of NorthOne. Eytan never intended to create a fintech bank account for small businesses but after talking with a hundred or more small business owners it became clear this was still a major pain point.In this podcast you will learn:How interviews with a hundred small business owners led to the founding of NorthOne.Why it became obvious that a new kind of bank account was what was needed.Why they took several years to develop the product.Profile of the typical small businesses that are attracted to NorthOne.How they reach these small business owners.What small business owners actually want from a bank account.How can they profitably serve this market.Why they eliminated overdraft and NSF fees.Their relationship with their bank partner, the Bancorp Bank.How important open banking is to what they are doing.What types of data are they connecting to.The scale they are at today and where their people are located.Eytan's thoughts on getting their own banking license.What it was like raising equity capital in 2022.Where they are on their path to profitably.What he is excited about for 2023.Connect with Eytan on LinkedInConnect with Eytan on TwitterConnect with NorthOne on LinkedInConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#400: Dee Choubey of MoneyLion
Dec 7 2022
#400: Dee Choubey of MoneyLion
The neobank space is very competitive. Every company has a solid app with extensive functionality, that is a given these days. But where there is differentiation is how these neobanks are engaging with the customers. Some are focused on optimizing for interchange fees, some are focused on credit products, some on deposit gathering while others provide all of that and more. But there are few companies approaching their customers in completely new ways.My next guest on the Fintech One-on-One podcast is Dee Choubey, the CEO and co-founder of MoneyLion. I last had him on the show six years ago and his company has changed so much since then. They are now a public company (NYSE:ML) and they are approaching their market in a completely different way to other neobanks. What they are doing with media, how they think about customer engagement, how they are using their marketplace - this is quite unique in the entire fintech space.In this podcast you will learn:A profile of the typical MoneyLion customer.Where people are spending the most time on MoneyLion.How their personalized content helps with financial literacy.What Dee means by creating a form factor change in finance.The engagement with their app that they are seeing.Their view of the American consumer right now.The primary use case for crypto and any changes they are seeing there.Why they acquired Even Financial and how they are developing that platform.What they are doing in media and how they are using AI and ML to optimize it.How they will eventually become the search engine for financial products.Why they have gone all-in on NASCAR and are also focused on the NBA G-League.How they are navigating this bear market in fintech valuations.Why Dee has no regrets about becoming a public company when they did.What he is most excited about for 2023.Connect with Dee on LinkedInConnect with MoneyLion on TwitterConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#399: Kurtis Lin of Pinwheel
Dec 3 2022
#399: Kurtis Lin of Pinwheel
More than ever before, people today have different forms of income. They might have a day job but do gig work at night and on weekends. They might have a different side hustle that started out as a hobby but now generates an income. Getting an accurate picture of an individual's income requires sophisticated data engineering but it is something that is becoming increasingly critical.My next guest on the Fintech One-on-One podcast is Kurt Lin, the CEO and Co-Founder of Pinwheel. They make sense of real-time income and employment data to help lenders, fintechs and banks get an accurate financial picture of the people they are dealing with.In this podcast you will learn:The founding story of Pinwheel and the pivot they quickly made.Details of their product offerings today.How their connectivity works.An example of how their figure out someone's true income.Why Earned Wage Access is such an important product for consumers.What Pinwheel has done with Earned Wage Access that has never been done before.Why having read/write access to direct deposit is key for this new product.The problem they are solving with their Direct Deposit Switching product.The different use cases for Direct Deposit Switching.Some of the key findings from their recent survey.What the future holds when all this data is connected.Why becoming a Credit Reporting Agency was important for Pinwheel.Kurt's vision for the future of Pinwheel.Connect with Kurtis on LinkedInConnect with Kurtis on TwitterConnect with Pinwheel on TwitterConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#397: Rhomaios Ram of Fnality
Nov 22 2022
#397: Rhomaios Ram of Fnality
When it comes to the velocity of money in banking in many we are back in the days of the horse and buggy. Whereas communication between banks can move around the world instantly when it comes to transactions most of the banking world is on a two-day settlement window known as T+2. This 48-hour delay means huge liquidity costs for banks.But we are moving to a world of real-time settlement and one of the global leaders in this movement is Fnality. This organization, based in London, was created by a consortium of banks whose goal is to move the banking system to real-time settlement. At our recent event in London I sat down with Rhomais Ram, the CEO of Fnality, to discuss "Increasing the Velocity of Money with Real-Time Settlement."In this podcast you will learn:How the consortium for Fnality first came together.What Fnality is building in layman's terms.Why we live in a T+2 settlement world between banks today.Why banks want to move to a real time settlement world.What are the primary use cases.How a transaction will flow within the Fnality system.How many banks they have on board today.Ram's views on a CBDC and the role of Fnality.The different geographies where they are focused today.How Fnality will make money.The liquidity savings that could be achieved here.An example on how this technology could interface with DeFi.How a financial institution could manage their liquidity.The potential scale of transactions they could hande.Rhom's vision for what this can look like in the future.Connect with Rhomaios on LinkedInConnect with Fnality on TwitterConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#396: Lawrence Wintermeyer of GBBC Digital Finance
Nov 18 2022
#396: Lawrence Wintermeyer of GBBC Digital Finance
Before the FTX blowup there was a serious conversation happening around regulation of the DeFi space. During our Merge event in London last month I interviewed Lawrence Wintermeyer, the Chair of the GBBC Digital Finance (and the former chair of Innovate Finance) on the topic, Paving the Way for Web3 Legitimacy.Given the events of the last couple of weeks this topic has new urgency. For the DeFi industry to scale it must begin a serious and open discussion with regulators and it needs to address some of the thorny issues caused by its decentralized structure. This interview was recorded on October 17 and there was a prescient quote from Lawrence during the interview: "The industry just does not look like a very safe place to put your money right now."In this podcast you will learn:Why people are at war in the digital innovation space.Why it is critical for the web3 industry to come together and self-regulate.What a co-regulatory model could look like.How can approach regulating DeFi where it is by definition decentralized.The difficult issues that most need to be addressed.Why identity and liability considerations are so important for DeFi.How far away we are from effective DeFi regulation.His thoughts on permissioned and closed DeFi networks.What's the most practical thing that we can do to create Web3 legitimacy.Connect with Lawrence on LinkedInConnect with Lawrence on TwitterConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#395: Nicole Lorch of First Internet Bank
Nov 15 2022
#395: Nicole Lorch of First Internet Bank
Someone had to be first. More than a decade before the word fintech became a thing we had the original fintech bank, First Internet Bank.  As the name implies they were the first bank to operate completely online when they launched in 1999. In many ways they have been a trailblazer, paving the way for a new generation of fintechs to thrive.My next guest on the Fintech One-on-One Podcast is Nicole Lorch, the President and COO of First Internet Bank. She has been at the bank since the very beginning and has seen it grow to become a successful and profitable online bank. There are many lessons here for the new crop of fintech banks.In this podcast you will learn:What it was like launching an online bank in the dot com era.The types of consumers they attracted in the early days.How RV and horse trailer loans became a successful niche.The different verticals they are involved with today.Who they think about as their competitors in banking.What they have done to emulate in-person banking in the digital world.How they manage their customer service call center.Details of their tech stack and their approach to technology.Nicole's view on the recent rise of the digital neobank.How they are partnering with Treasury Prime for banking-as-a-service.Why First Internet Bank has such a deep understanding about fintech-bank partnerships.What they are focused on when it comes to growing the bank.How she views the moves by big tech into financial services.What Nicole is excited about for 2023.Connect with Nicole on LinkedInConnect with First Internet Bank on TwitterConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#393: Randy Kern of Marqeta
Nov 9 2022
#393: Randy Kern of Marqeta
The card space (both debit and credit) has seen tremendous innovation over the last decade. Use cases that were inconceivable 10 years ago are now commonplace due to the steady march of fintech innovation. The company that has been at the very center of these developments is Marqeta. They have basically invented a new category of fintech, what they call "modern card issuing".My next guest on the Fintech One-on-One podcast is Randy Kern, the CTO of Marqeta. He has had a career in enterprise tech, outside of finance, so he brings a fresh perspective to fintech. We delve deeply into the technology that is behind one of the most innovative companies in all of fintech.In this podcast you will learn:What attracted Randy to the CTO position at Marqeta.How he describes modern card issuing.Some of the use cases of their card technology.Their role in the Uber ProCard that was recently announced.How Randy's background in enterprise tech helps him at Marqeta.A great analogy on the growth of embedded finance.How Marqeta thinks of embedded finance.How the growth of digital wallets is being fueled by Marqeta.Why tokenization of cards is the key to better security.How they are helping small business lenders today.How open APIs help speed the development of fintech products.The challenges of running a tech company across multiple geographies.What Randy is excited about for the future of Marqeta and fintech in general.Connect with Randy on LinkedInConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#392: John Wu of Ava Labs
Nov 4 2022
#392: John Wu of Ava Labs
The most interesting use cases for DeFi are still being discovered. But tokenization of real world assets, or anything that has an income stream associated with it, is starting to take shape. And there are blockchains being built today with digitization and tokenization of assets as their core use case.My next guest on the Fintech One-on-One podcast is John Wu, the President of Ava Labs, the organization behind the Avalanche blockchain. John has a deep knowledge of technology as an investor and was early in bitcoin. Now, he is leading Ava Labs and the Avalanche blockchain into becoming a major force in a multi-chain world.In this podcast you will learn:The founding story of Ava Labs and the Avalanche blockchain.Why Emin Gün Sirer is so well respected in the crypto space.What makes the Avalanche blockchain unique.How Ava Labs is working with traditional financial institutions.The two core benefits of tokenization.What assets lend themselves best to tokenization.The interesting use cases for tokenization getting traction now.The benefits of Avalanche over private blockchains.What it will take for tokenization to become mainstream.How programmable money fits into the Avalanche vision.How fintech and TradFi should think about web3 disruption.How the downturn in crypto has affected Ava Labs (or not).What John would like the TradFi world to understand about DeFi.The role of Ava Labs in the future of crypto.Connect with John via LinkedInConnect with John via TwitterConnect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#391: Martin Chorzempa of PIIE
Nov 1 2022
#391: Martin Chorzempa of PIIE
The rise of Chinese fintech in the 2010s is one of the most exciting and intriguing stories in all of fintech. This has been followed in this decade by a government crackdown on fintech and technology more broadly. But everyone should understand the innovations that led China to become the most advanced country in the world when it comes to fintech.My next guest on the Fintech One-on-One podcast is Martin Chorzempa who I got to know in 2014 when I started visiting China. He is now at the Peterson Institute for International Economics and he has written a very important book on Chinese fintech called "The Cashless Revolution: China's Reinvention of Money and the End of America's Domination of Finance and Technology." This is a must-read for anyone in fintech, not just for those people who follow China, as there are lessons here for us all.In this podcast you will learn:How Martin found his way to work at a Chinese think tank, CF40.The work he did at CF40.What he is focused on today at the Peterson Institute for International Economics.How he was able to become fluent in Mandarin.The state of financial technology when Martin arrived in China in 2012.How Tencent and Ant Financial became critically important fintech companies.Why the rise of the Super App was the key to the rise of these two companies.How the Chinese government enabled this rise.What propelled the growth of peer-to-peer lending in China.The amazing rise of Sesame Credit, Ant Financial's official credit bureau.The government's approach to the huge amounts of data these companies generated.The stunning fall of the peer-to-peer lending platform Ezubao.How Ant's money market fund, Huabao, became the largest in the world.How one speech from Jack Ma become the “The Costliest Speech in History”.The lessons the U.S. and the West can take from the rise and fall of fintech in China.Connect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#390: Pete Lord of Codat
Oct 28 2022
#390: Pete Lord of Codat
Small business data is heterogenous and typically stored in silos that are not connected to each other. While some level of integration is starting to happen, getting the big picture of a small business from all these silos is challenging. But that is also changing.My next guest on the Fintech One-on-One is Pete Lord, the CEO and Co-Founder of Codat. His company's mission is to bring all that data together to make life easier for small businesses. Codat's clients are able to access the data they need seamlessly to help them get a complete picture of each small business.In this podcast you will learn:The problem Codat was created to solve.What they mean by the "universal API for small business data".Some of the companies where they have an API connection.An example of how this data access actually works.The state of play of open banking in the UK and the US.Their geographic footprint and the challenges of working internationally.Some of the 42 different use cases for Codat.Why they started with lending and how SMBs are getting more access to credit.How they connect with bank data.What they actually return to their clients when it comes to data.How Codat's clients are using climate data.Details of their $100 million Series C fundraise closed in Q2.The size of their team today.Pete's vision for a connected world when it comes to business data.Connect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes
#389: Christine Kenna of IGNIA
Oct 21 2022
#389: Christine Kenna of IGNIA
A decade ago, to say the Latin American fintech industry was nascent would have been an overstatement. While there were a handful of enterprising startups, no one had achieved much scale and there was very little funding available to help. And yet, these bootstrapping entrepreneurs were at the forefront at what would soon be a thriving industry.Today, Latin American fintech is hot, although like the rest of the fintech world it has cooled down somewhat in 2022. My next guest on the Fintech One-on-One podcast is Christine Kenna, a partner at IGNIA, a Mexican VC firm, where she has spent more than a decade. During that time, she has witnessed and participated in the explosive growth of the fintech industry.In this podcast you will learn:How Christine came to Mexico and to IGNIA.What it was like being an investor in Mexico a decade ago.When they first started paying attention to fintech.How IGNIA has responded to the changing investing environment.What it means to entrepreneurs to have big name American VCs in the region now.The different environments for early stage and later stage investment.The most interesting areas of fintech today in Latin America.Why cash is still so prevalent in Mexico today.Why Christine is bullish on crypto long term.Why LatAm entrepreneurs are always looking cross border.The stage of companies IGNIA focuses on.The quality of the entrepreneurs approaching her today.What Christine is most excited about for the future of LatAm fintech.Connect with Fintech One-on-One: Tweet me @PeterRenton Connect with me on LinkedIn Find previous Fintech One-on-One episodes