Episodi
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The largest payments network, by volume, is the ACH network. A dollar value of several times US GDP flows through the network each quarter. It is a 50-year-old network that is reliable, ubiquitous, and still growing. While several shiny new payment rails have been developed, the workhorse of the economy remains ACH and will remain so for some time.
My next guest on the Fintech One-on-One podcast is Jane Larimer, the President and CEO of Nacha, the organization that governs the ACH network. While I often feature people on this show to talk about cool and emerging technology, I also think it is critical that we understand the infrastructure that is in place today. And the ACH network is how the vast majority of payments are made.
In this podcast you will learn:
The origin story of the ACH network.The first use case for the network.How they moved from paper checks to electronic payments.The mission of Nacha.Why some banks become direct members of Nacha.The staggering scale of the payments flowing through the ACH network.How the timing works for payments on the ACH network.Why the ACH network is unable to process payments on weekends (but that may be changing)Jane's perspective on instant payments and why she believes it is complementary to ACH.The cost difference between Same Day ACH and standard ACH.The big barrier to the adoption of any alternative payment rails.How fraud has changed in the past decade.Details of the education available on their website.How Jane see the future of payments playing out over the next decade.
Connect with Jane on LinkedIn
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[Editor's note: This interview was recorded on April 16, six days before the news of the Synapse bankruptcy and several weeks before any of the major problems that came to light at fintechs that were working with Synapse.]
To say the banking-as-a-service space is having a moment is an understatement. But many banks have been doing this successfully for a number of years and have thriving partnerships with fintechs. One such bank is Pathward, formerly known as MetaBank.
My next guest on the Fintech One-on-One podcast is Anthony Sharett. He is the President at Pathward, a position he has held since 2021. Pathward is one of the largest and most important banks in the fintech space, so I wanted to get him on the show at this critical time for the industry.
In this podcast you will learn:
How Anthony came to be at Pathward.The history of the company and the rebrand from Metabank to Pathward.Anthony's take on the state of banking-as-a-service today.Why the concept of middleware may not be dead yet.The services they offer and some of the fintechs they are working with.How they co-create new products with their fintech partners.How they have built their risk and compliance framework.How they manage the balance between creativity and compliance.Their status as far as taking on new fintech clients.What they are looking for in a new fintech.Anthony's advice to a startup fintech CEO today.What he thinks of the state of fintech innovation today.What the BaaS landscape will look like in 3-5 years.Connect with Anthony on LinkedIn
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When I think about the hottest areas in fintech these days identity verification is right at the top of the list. It impacts anyone doing business online so whether you are a bank or a fintech you need to stay on top of this fast-moving space.
My next guest on the Fintech One on One podcast is Joel Sequeira, the Director of Product Management at IDology. Joel is an identity expert with a long history in the space and he talks about the new attack vectors that are in play today, particularly with Generative AI, and more importantly, what fintechs and banks can do to curtail fraud today.
In this podcast you will learn:
What Joel does exactly at IDology.The challenges for fintechs and banks in automating customer onboarding.How to incorporate automation and AI into your strategy.The role of human-supervised AI and how to maintain compliance.What he means by onboarding with inclusive customer journeys.How they define advanced identity verification.The different data sources that IDology works with.Why it is important to have deep data in different sectors.Some of the differences between KYC and KYB (Know Your Business).Examples of how Generative AI is being used to commit fraud.The trends that Joel is paying closest attention to.How fintechs and banks can future-proof their identity verification.
Connect with Joel on LinkedIn
Connect with IDology on LinkedInConnect with Fintech One-on-One:
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In the early days of the online lending space, when it came to institutional capital, one name seemed to be in more deals than any other: Victory Park Capital. And while the industry has matured a great deal since then, in no small part thanks to the capital invested by Victory Park, their thesis remains the same: lend money where banks won't.
My next guest on the Fintech One-on-One podcast is Brendan Carroll, Co-Founder and Senior Partner of Victory Park. I am so pleased to finally get Brendan on the show after first inviting him many years ago. They have a great story to tell and they continue to fuel the growth of private credit, providing capital to a wide variety of different lenders.
In this podcast you will learn:
The founding story of Victory Park Capital.Their fortunate timing of the closing of their first institutional fund.What they saw as the opportunity in the early days of the online lending space.Why they pulled out of the peer-to-peer lending platforms fairly quickly.How they are able to get comfortable investing with new lending platforms.What types of lenders they are working with today and the regions they operate.Why businesses are staying with Victory Park a bit longer today.Why their check sizes are higher today than five years ago.The niche of consumer finance they are most bullish on today.How the equity funding pullback has impacted their business.How lenders can set themselves for success and get a deal with Victory Park done.Brendan's views on the future of asset-back private credit.Connect with Brendan on LinkedIn
Connect with Victory Park Capital on LinkedInConnect with Fintech One-on-One:
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The payments processing space has seen a huge amount of innovation in the past decade, maybe more than any other area of fintech. This innovation has presented opportunities for non-fintech companies to earn a new revenue stream via payments processing, which in turn has created a new sub-niche for fintech companies.
My next guest on the Fintech One-on-One podcast is Caleb Avery, the CEO and Founder of Tilled. They provide PayFac-as-a-Service to software companies looking to process payments for their customers. Basically, it is a simpler and quicker way for these software companies (called ISVs) to get set up as master merchants and generate payments revenue. Unsure how this all works? We explain in great detail in this interview.
In this podcast you will learn:
What attracted Caleb to the payments processing space very early on.The founding story of Tilled.The difference between a card-issuing bank and a merchant-acquiring bank.The definition of a payments processor.What an ISO (Independent Sales Organization) does.What an ISV (Independent Software Vendor) is.The definition of a payments facilitator (PayFac).Who the major PayFacs are today.What PayFac-as-a-Service is and why Tilled went all in on this idea.The scale of ISV that is the sweet spot for Tilled.Why ISOs work with Tilled rather than going direct to ISVs.The three key components of Tilled's software.How they are able to compete head to head with Stripe Connect.The different types of support they can provide for the ISVs.How their pricing model works.How the typical credit card fees are broken up between all parties.Caleb's views on the recent ruling between Visa and Mastercard and the Department of Justice.Where embedded payments is going and his vision for Tilled.Connect with Caleb on LinkedIn
Connect with Tilled on LinkedInConnect with Fintech One-on-One:
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