Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Understanding how a system works is the first step to leveraging it to your advantage. However in an environment where just seven states provide excellent education in personal finance, younger generations like Gen Z are starting out at a massive disadvantage. But some fintechs like the family education and finance focused fintech Greenlight, have started to build products that aim to fill in this gap. The company’s financial literacy game Level Up offers children a chance to engage with personal finance topics in a fun, gamified environment. In this conversation, Greenlight’s SVP, Business Development, Matt Wolf, joins Tearsheet editor and founder Zack Miller, on stage at our Gen Z Symposium held on March 7th, 2024 in New York City. Wolf dives into the state of Gen Z’s financial literacy and their expectation that FIs should operationalize their position as a trusted source to better inform and educate the coming generation about personal finance. He also shares why this expectation is sometimes difficult for banks to meet fully and how partnerships can help ease some of the technical and business difficulties with building Gen Z-focused financial literacy products. The big ideas The gap in financial literacy: “What’s interesting is when you poll them [Gen Z], three out of four believe that they don’t currently have the skill sets they need, and they’re not confident in their skill.” Banks want to reach Gen Z but their attention is divided: “If it comes to, hey, can we talk about financial health, or can we talk about additional lending products, sometimes you’re gonna lose out on that.” Building for Gen Z means building for the future: “There’s an understanding that engaging in acquiring and having a relationship with that next generation is good for their immediate bottom lines. But just looking at the future societal consequences and their communities when people are making bad investments, if they’re being very loose with how they use credit, it’s going to be critical.”

16m

Apr 01

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Next up, we have Eunice Jung, who is helping to encourage climate-smart lifestyles through fintech as Head of Partnerships at Future. Eunice is not your typical finance executive; she’s a recent grad on a mission to really rethink how we think about sustainability in our everyday lives. With a background in sustainability from Stanford, Eunice found her passion intersecting with finance at an early stage, leading her to spearhead Future’s innovative sustainable rewards platform. Eunice spoke recently at Tearsheet’s symposium on Gen Z in New York City. Eunice’s journey from student to executive is as inspiring as it is unconventional. Today, she shares her insights into the challenges and triumphs of bridging the gap between climate-consciousness and financial pragmatism. From her humble beginnings as an intern to shaping the future of finance for Gen Z and beyond, Eunice’s story is a testament to the power of determination and innovation. So, whether you’re a seasoned sustainability enthusiast or just dipping your toes into the world of climate-smart finance, join us as we uncover the possibilities that lie at the intersection of money and sustainability. Get ready to embark on a journey of discovery, inspiration, and actionable insights with our guest, Eunice Jung.

13m

Mar 28

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. This episode of The Tearsheet Podcast delves into the evolving financial landscape for Gen Z, focusing on their transition from debit to credit usage. Bunita Sawhney, Global Head of Consumer Products and Processing at Mastercard, shares insights from her presentation at the Tearsheet Gen Z Symposium, emphasizing the increasing role of women in financial decision-making. We explore Gen Z's preference for debit cards over credit cards, driven by factors like control and familiarity.  Bunita highlights the importance of partnerships and innovative strategies to engage Gen Z, advocating for financial literacy initiatives and alternative credit-building solutions like installment plans and Buy Now, Pay Later options. The discussion also touches on Mastercard's collaborations with fintech firms like Greenlight and Juvo to promote financial education and inclusion among younger demographics. Ultimately, the podcast aims to shed light on the challenges and opportunities in catering to Gen Z's financial needs and preferences. The big ideas Gen Z's Influence in Financial Decision Making: "To this day, 90% of payment decisions or household buying decisions are made by or with women. And that's true for Gen Z as well. Over 25% of women say that they are the sole decision-maker in their household's financial decisions." Gen Z's Digital and Social Natives: "It is a really special moment, not only because we're on the cusp of International Women's Day, so happy International Women's Day to all of you. And I do like to think not only about the women in our company and how we serve and support them, but the women who we and our product support and serve as well, because I'll spend a minute on that as I transition us over into Gen Z."  Preference for Debit Cards: "Debit is still the most accepted and the largest payment vehicle and the most consistently used all around the world. And that is true also for our Gen Z consumers. Why? Because it meets some of their critical needs, it meets their need for control, it meets their need for understanding and having control over their payments."  Importance of Credit Building: "Credit doesn't have to revolve first of all, right? We know now with the advent and the absolute take-off of installment solutions, and buy now pay later solutions, that there's plenty of easy ways to have access to short, non-APR related ways to pay in four, pay in six without a fee or without an APR as an example." Financial Literacy and Education: "We know that 52% of Gen Z consumers worry about financial security. That's twice as much as the generations before them -- two times more worry." Partnerships and Innovation: "We're in a different place with a different level of information flow with a really curious group, that are finding ways to inform themselves through social platforms, as I said, and others through influencers, who we need to continue to partner with more so than ever." Here’s my conversation with Mastercard’s Bunita Sawhney.

17m

Mar 25

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Today we have an insightful conversation for you featuring Trevor Nies, senior vice president and global head of digital at Adyen, a leading financial technology platform renowned for its innovative contributions to the digital commerce landscape. This conversation was a fun one I recorded with Trevor as a Linkedin Live session. With extensive experience and expertise, Trevor plays a pivotal role in driving Adyen's strategic initiatives, particularly in payment solutions and empowering businesses to thrive in the ever-evolving realm of modern commerce. At Adyen, Trevor leads efforts to develop solutions that address the complexities of digital transactions and provide businesses with the tools they need to navigate the intricacies of the modern marketplace. With a focus on enhancing payment experiences and streamlining operations, Adyen's digital commerce solutions are reshaping the way businesses engage with customers and drive sales in today's dynamic ecosystem. Join us as we delve into Adyen's strategic vision, exploring the company's commitment to innovation and its impact on shaping the future of commerce. Through this conversation, we aim to uncover the transformative power of Adyen's digital commerce solutions and gain valuable insights into the evolving landscape of payments and consumer behavior. Before we dive into today's episode, I’d like to give a shoutout to our sponsor, StrawberryFrog. StrawberryFrog has been hailed as the very best in creative marketing, innovations, and transformation for financial brands worldwide. Working with iconic names like Morgan Stanley, Truist, First Abu Dhabi Bank, and many others, they've set the standard for excellence. I’ve particularly enjoyed covering the firm’s ability to enact movements within these organizations that infuse their brands with real purpose that employees and customers can get behind. So, whether you're a financial giant or a tech disruptor, StrawberryFrog is your go-to partner for activating brand purpose and driving transformative movements. Learn more about their groundbreaking work at strawberryfrog.com. Without further ado, let's enter this dialogue and uncover the implications of Adyen's strategic initiatives in the realm of digital commerce.

27m

Mar 19

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Today, I’m thrilled to bring you an exclusive conversation with Terry O'Neil, a payments leader at Citi responsible for spearheading embedded payments and strategic initiatives. Terry provides insights into Citi's approach to embedding a wide array of financial products, including payment solutions, private label offerings, and lending products, directly into the fabric of merchants' point-of-sale systems. Join us as we unravel the complexities of streamlining integration processes for merchants, meeting evolving consumer demands for flexibility and choice, and navigating the convergence of physical and digital commerce. Get ready for an engaging exploration of how embedded payments are impacting the way businesses engage with customers and drive sales. Without further ado, let's embark on this captivating journey into the realm of embedded payments.

28m

Mar 13

In the dynamic landscape of financial marketing and transformation, few figures stand out as prominently to me as Scott Goodson, CEO, and Chip Walker, Head of Strategy, at StrawberryFrog. I’ve spoken to these guys a few times over the years and they just get it. StrawberryFrog has been called the very best creative marketing, innovations, and transformation company in the world for financial brands, having worked with some of the most iconic financial brands including the largest banks such as Morgan Stanley, Truist, First Abu Dhabi Bank. SunTrust, Bank of America, Bank of Montreal, Harris Bank, Credit Suisse as well as tech brands like AfterPay and Thrive Global. We’re here to talk about activating brand purpose – throughout my conversation with Scott and Chip, we'll uncover the power of purpose in driving organizational change, how leaders can effectively activate purpose within their companies, and the impact of purpose-driven movements on both internal culture and societal change. From real-world examples to actionable strategies, get ready to gain valuable insights that can help transform your approach to leadership, marketing, and beyond. So grab your headphones and join us on this insightful journey into the heart of purpose-driven branding and leadership. Let's dive in! Here’s my conversation with StrawberryFrog’s Scott Goodson and Chip Walker. The big ideas Purpose-Driven Movements: The core concept discussed throughout the conversation is the idea of purpose-driven movements. These movements serve as powerful tools for organizations to not only differentiate themselves but also to address societal issues, engage employees, and drive meaningful change. Global Perspective and Experience: Scott and Chip's extensive international experience underscores the importance of a global perspective in understanding consumer behavior, market dynamics, and cultural nuances. This broad view enables them to develop effective strategies for global brands and navigate challenges across diverse markets. Leadership's Role in Purpose Activation: Effective leadership is essential for activating purpose within organizations. Leaders who embrace curiosity, openness, and a willingness to align personal purpose with corporate purpose can inspire employees, drive engagement, and spearhead movements that lead to tangible results. Closing the Purpose Gap: The purpose gap highlights the importance of ongoing activation and alignment of purpose throughout the organization. Closing this gap requires sustained effort, engagement, and co-authorship at all levels to ensure that purpose remains central to organizational culture and strategy. Movement Thinking in Marketing Strategy: Movement thinking offers a strategic approach to marketing that goes beyond traditional advertising tactics. By weaving purpose into storytelling and leveraging diverse platforms, brands can create multi-layered narratives that captivate audiences, drive engagement, and foster advocacy. Impact on Organizational Culture: Purpose-driven movements have a profound impact on organizational culture, fostering a sense of belonging, empowerment, and shared values among employees. When purpose is embedded in the fabric of an organization, it drives alignment, collaboration, and innovation. Societal Impact and Change: Beyond organizational benefits, purpose-driven movements have the potential to drive significant societal change. By addressing pressing issues such as mental health, financial literacy, and societal inequalities, brands can become catalysts for positive social impact and contribute to a more sustainable and equitable world.

51m

Mar 12

Today, we have a special guest joining us—Shmulik Fishman, CEO of Argyle. I’ve spoken to Shmulik a few times over the years and it’s been really interesting to see how early he was to the space he’s playing in, as well as the impact Argyle is having on financial services. The firm’s recent investment round I think speaks to that. Argyle has been at the forefront of digital income verification, transforming how lenders, mortgage processors, banks, and fintechs verify income. In this episode, We’ll explore Argyle’s mission to enhance data completeness and streamline user experience through payroll connectivity. We’ll dive into Argyle’s recent Series C fundraising, Shmulik’s and Argyle’s vision for the future of payroll connectivity, and the impact they’re making in the financial services industry. Without further ado, let’s jump right into the conversation. The big ideas Argyle’s Mission and Accomplishments: Shmulik highlights Argyle’s mission and recent achievements, positioning the company as a leader in digital income verification. “Argyle is a digital income verification tool…The big news is that we just closed our Series C, we have an additional $30 million capital…This mark, sort of the 100 million dollars in capital raised, I think it’s really important.” Disruption of Outdated Processes: The conversation underscores how Argyle is disrupting traditional, paper-based processes with its innovative solutions, offering ease of use and security for consumers and lenders alike. “For too long, outdated processes have plagued industries like renting, lending, and mortgage processing, requiring consumers to deal with cumbersome paperwork. With Argyle, we’re changing that narrative…” Partnership with Rockefeller Asset Management: Shmulik discusses the significance of Rockefeller Asset Management joining Argyle’s board, highlighting the alignment of visions and the potential for greater impact. “Rockefeller asset management’s entry into our board brings a wealth of experience and resources, aligning perfectly with our mission to build an enduring business.” Focus on Payroll Connectivity: The podcast emphasizes Argyle’s focus on payroll connectivity and how it’s reshaping the landscape of income verification, setting new standards in the industry. “Payroll connectivity is at the heart of what we do at Argyle…we’re empowering lenders to make faster, more informed decisions while enhancing the user experience for consumers.” Client-Centric Approach: Shmulik highlights Argyle’s client-centric approach, emphasizing the importance of partnerships and customized solutions tailored to clients’ needs. “Our priorities moving forward revolve around enhancing the user experience, improving data completeness, and exploring new verticals where income verification can make a significant impact.”

20m

Mar 07

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller And for today’s episode, we're embarking on an insightful journey with two professionals I consider as visionaries – we’ve spoken a few times over the years – They’re the co-founders at the helm of Current, a pioneering neobank based in the heart of New York City. Joining us are Stuart Sopp, CEO and co-founder of Current, and Trevor Marshall, the CTO and co-founder, both instrumental in helping to shape the landscape of modern banking for everyday Americans. Recorded in September of 2023, we dive deep into the genesis of Current’s latest product, the Credit Builder Card. But beyond that, we'll explore the broader trends impacting financial services and its customers. From the impact of inflation and rising interest rates to the evolving needs of Gen Z consumers, we'll dissect the challenges and opportunities facing today's banking industry. Here’s my conversation with Current’s Stuart and Trevor. The big ideas Addressing the Need for Credit Building in a Changing Economic Landscape: "We saw a crucial need to help our members build credit effectively. The Credit Builder Card emerged from our deep understanding of our customers' needs and the changing economic climate." - Stuart Seamless Integration of Financial Products into Users' Lives: "We wanted to create a product that seamlessly integrates into our members' lives, offering a solution that not only builds credit but also enhances their banking experience with us." - Trevor Emphasis on Financial Education and Behavior Change: "We've really guided users towards adopting the best behaviors, the best possible practices to ensure that they are really getting the biggest benefits out of the product." - Trevor Accessibility and Inclusivity in Banking Products: "Our data suggests that there's strong interest across various demographics, including Gen Z. By offering a product that combines accessibility, education, and value, we're breaking down barriers to credit building and empowering all our members to achieve their financial goals." - Stuart Continuous Improvement and Focus on Long-term Relationships: "We're focused on continuous improvement, ensuring that we deliver unparalleled value to our members while driving towards profitability. Additionally, we're exploring new avenues for lending and business model innovation to further support our mission of financial empowerment." - Stuart Adapting Technology to Enhance User Experience and Financial Services: "We've built into our own core stack. So all of the products and services that we build can talk to each other. And that's in both our live production systems and our analytics and downstream customer data platform." - Trevor Anticipating and Preparing for Future Shifts in Financial Paradigms: "We are well prepared for both sides of that equation. We are early, as we always are, but we are well prepared for both sides of that equation." -

24m

Mar 01

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. In today's conversation, I chat with Karan Anand, President at Brex. Brex has undergone a remarkable transformation over the last two years, evolving from a fintech startup with a corporate card for startups to a global fintech and enterprise SaaS company in corporate spend. Recently appointed to the new role of president, Karan gives us a window into this journey, shedding light on the challenges and successes that come with building both a fintech and SaaS business concurrently – it was like the firm had two entirely separate companies while they were building out the corporate spend side of the business. We delve into topics ranging from the cultural hurdles faced during this shift, the intricacies of scaling, and the unique challenges and opportunities that arise in the payments and software space. Whether you're deeply embedded in the fintech and SaaS world or simply curious about the evolution of innovative companies, this conversation with Karan is packed with valuable insights. So, without further ado, let's jump into the conversation and explore the dynamic landscape of financial technology and enterprise software with Karan Anand, President at Brex.

28m

Feb 27

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Actually, I’m your co-host today – joining me is Rabab Ahsan, Tearsheet reporter. Rabab has been doing a bang-up job recently covering the intersection of Gen Z and financial services, from her reporting to her contributions to our 2 seminal reports on the subject which you can find at steezlife.co. One place Gen Z diverges from generations that came before it is in investing. For example, research shows that younger folks invest for completely different reasons than previous generations. It’s not about financial status for Gen Z – it’s about a better quality of life. Values also play a big role in investment decisions, as Gen Z tends to put its money where their values are. Actually, there are a whole bunch of important topics here that require some understanding if you want to do better providing investment services and advice to Gen Z. To do that, Rabab and I are joined by Dr. Julie O’Brien, head of behavioral science, and Rob Haworth, senior investment strategist at US Bank. We dig deeper, discussing recent research Dr. O’Brien authored that looks to better understand the investment needs and behaviors of Gen Z. It’s an interesting conversation – glad you’re joining us. And, speaking of joining us, Tearsheet is hosting our first symposium on Gen Z and financial services. It’s March 7 in NYC at Mastercard’s Tech Hub. It’s an intimate group of financial services professionals really exploring what it means to build lovable financial products and services for Gen Z. You can find more information about it on our website – just click on events and apply for a ticket. Here’s our conversation with US Bank’s Dr. Julie O’Brien and Rob Haworth.

26m

Feb 23

Unlocking Access to Top Asset Managers: The Securitize Story with Jamie Finn by Tearsheet

26m

Feb 16

The heart of today's episode is a topic that's both innovative and harmonious—sonic branding. We'll embark on a fascinating journey of the power of creating ear worms to support financial services marketing, guided by two remarkable guests. Michelle Schoening, AVP, Marketing Communications & Design at Navy Federal Credit Union joins us to talk about the largest credit union in the US;s journey to create its sonic logo – we’ll get into the who, what, why, and how, as well as explore the impact the new sonic branding has had on Navy Federal and where Michelle and her team plan to take it. T To properly dive into this subject, I’m also joined by Elizabeth Kasper, VP, Managing Director, Head of Client Success of Made Music Studio, a sonic branding agency that, in addition to its collaboration with Navy Federal, has worked with brands like Tostitos, Lexus, and Forbes. Together, we’ll unravel the narrative behind Navy Federal's foray into the realm of audio branding. Imagine the largest credit union exploring a dimension beyond numbers, creating a sonic identity that resonates with its members. I find this stuff fascinating. This episode isn't just about finance; it's about the intersection of art and branding, where every note and beat tells a story. So, whether you're a financial wizard or a music aficionado, you're in for a treat. But first, a moment to express our appreciation for your ongoing support. Your feedback and engagement drive us to bring you the most insightful content. If you appreciate the work we do here on the Tearsheet Podcast, please consider giving us a good rating in your podcast player. Now, without further ado, grab your headphones and get ready to explore the intersection of finance and sound on this episode of the Tearsheet Podcast. Read/listen to the whole podcast: https://tearsheet.co/podcasts/how-navy-federal-created-a-new-sonic-brand/

30s

Feb 04

The heart of today's episode is a topic that's both innovative and harmonious—sonic branding. We'll embark on a fascinating journey of the power of creating ear worms to support financial services marketing, guided by two remarkable guests. Michelle Schoening, AVP, Marketing Communications & Design at Navy Federal Credit Union joins us to talk about the largest credit union in the US;s journey to create its sonic logo – we’ll get into the who, what, why, and how, as well as explore the impact the new sonic branding has had on Navy Federal and where Michelle and her team plan to take it. T To properly dive into this subject, I’m also joined by Elizabeth Kasper, VP, Managing Director, Head of Client Success of Made Music Studio, a sonic branding agency that, in addition to its collaboration with Navy Federal, has worked with brands like Tostitos, Lexus, and Forbes.  Together, we’ll unravel the narrative behind Navy Federal's foray into the realm of audio branding. Imagine the largest credit union exploring a dimension beyond numbers, creating a sonic identity that resonates with its members. I find this stuff fascinating. This episode isn't just about finance; it's about the intersection of art and branding, where every note and beat tells a story. So, whether you're a financial wizard or a music aficionado, you're in for a treat. But first, a moment to express our appreciation for your ongoing support. Your feedback and engagement drive us to bring you the most insightful content. If you appreciate the work we do here on the Tearsheet Podcast, please consider giving us a good rating in your podcast player.  Now, without further ado, grab your headphones and get ready to explore the intersection of finance and sound on this episode of the Tearsheet Podcast. Get a transcript of this podcast: https://tearsheet.co/podcasts/how-navy-federal-created-a-new-sonic-brand/

26m

Feb 04

One of the biggest trends that we’ve seen over the past 2-3 years is the emergence of early wage access, giving primarily gig and hourly workers access to their income on demand, as opposed to the hard-coded dates of a traditional payment cycle.  Rain’s Alex Bradford joins me on the podcast to talk about what’s driving the demand for EWA and how Rain is challenging the status quo of some of hte larger players in the space. Rain works with some of the largest middle market and enterprise companies to provide EWA as a wellness benefit to hundreds of thousands of employees in the U.S. The company recently raised $116 million and claims it’s growing 10% every month.  Alex also shares his view on where earned wage access is headed and who are likely to be the winners in the market.  Here’s my conversation with Rain’s Alex Bradford

25m

Jan 31

Welcome to the Tearsheet Podcast where we explore the future of financial services with an eye on technology, innovation, emerging models and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. One of the tenets we founded this podcast and everything we do at Tearsheet – our reporting, conferences, awards programs, even our new Working Groups – is honesty. Honesty in what’s really important and impactful to you, our listeners and readers. It’s why we don’t use language like “revolutionary” or “seamless”. This stuff isn’t easy to get right. I’ve been in the rodeo long enough to see fads come and go with no lasting impact. We actually see it as one of our jobs – being able to distinguish wheat from chaff, sizzle from stake – to help you focus on what’s really important and tune out the rest. Remember the hype around chatbots a few years ago? Or crypto? Certainly we weren’t there before, but are we there now? How do we even think about quantum? I’m joined by Mastercard’s president and CTO Ed McLaughlin today. I wanted to ask him what he thinks about three particular trends and sets of technology. Specifically, how do we size up the impact on payments of AI, quantum computing, and crypto? You’ll hear Ed’s deep experience in product and tech and how one of the senior most professionals in financial services can cut through the hype to find opportunity in cutting edge technology, focusing his and Mastercard’s resources on what will be impactful now and in the future. In the course of our conversation, McLaughlin provides some frameworks about how to approach new technology in an honest way and. I appreciate his honesty around his process and his sharing of his impact assessment of new technologies. Here’s my discussion with Mastercard’s Ed McLaughlin.

24m

Jan 29

Welcome to the Tearsheet Podcast, where we explore the future of financial services with an eye on technology, innovation, new models, and changing expectations. I’m Tearsheet editor in chief, Zack Miller. I don’t know if you’ve noticed but American Express over the past couple years has moved decisively into banking small businesses. We’ve definitely tried to track this evolution for the firm because it isn’t trivial – not for the firm and not for its customers. So, it’s not just an up-market card with a revolver. Today’s Amex offers a business checking account and cash flow monitoring that serves more and more as a firm’s homebase, a dashboard. Gina Taylor, Amex’s Executive Vice President and General Manager of Business Blueprint and Banking, joins me on the show to discuss the inspiration behind the launch of American Express Business Checking and how it aligns with the company’s vision for supporting small businesses. Importantly, beyond the no monthly fees and earning rewards, Gina shares what she sees are the key value propositions American Express Business Checking offers to differentiate itself in an increasingly crowded market. Here’s my conversation with American Express’ Gina Taylor.

22m

Jan 24

Welcome to the Tearsheet Podcast, where we navigate financial services together with an eye on technology, innovation, new models, and changing expectations. I’m Tearsheet editor in chief, Zack Miller. On today’s episode, we’re going to delve into the world of data-driven marketing for business banking and merchant services. Joining us today are experts from FMCG Direct, a full-service omni-channel marketing agency specializing in financial institutions, and Enigma Technologies (https://www.enigma.com), a data provider offering detailed insights into the health and identity of small and medium businesses. Our guests today include Elissa Rudd, Head of Data and Data Science at FMCG Direct, Tucker Triolo, Director of Performance Optimization at FMCG Direct, and Scott Steinberg, Chief Operating Officer and Chief Product Officer of Enigma Technologies. Together, they share their experiences and perspectives on leveraging accurate data to enhance marketing campaigns and drive business customer acquisition in the financial space. We explore the challenges in acquiring precise data, the unique approach of FMCG Direct in pay-for-performance campaigns, and the transformative impact of Enigma's data on merchant acquisition strategies. Our guests also shed light on the evolving trends in the industry, the importance of personalization, and the increasing focus on vertical payment solutions. Whether you're a financial marketer looking to enhance your strategies or a business owner navigating the complex landscape of business banking and merchant services, this episode provides valuable insights and predictions for the future of data-driven marketing. Let's dive into the conversation with Elissa, Tucker, and Scott.

36m

Jan 23

Welcome to the Tearsheet Podcast, where we explore the future of financial services with an eye toward technology, new models, innovation, and changing expectations. When Early Warning launched Zelle in 2017, it seemed a very big mountain to climb. For a bank-backed P2P payments app to replace or at least compete with Venmo seemed unbelievable. Venmo was clearly one of the most popular consumer fintech apps. But if you look at the growth today, Zelle slowly but surely surpassed PayPal’s favorite brand. In early 2023, Zelle had 120 million customers with 69 million monthly unique Zelle users. Venmo, which launched more than a decade ago, had 90 million active accounts, with 60 million being active monthly. It took time but it shows the massive power of bank distribution. Early Warning and its banking partners are back with a new digital wallet called Paze. Of course there are more popular digital wallets on the market. Will the power of bank distribution propel Paze’s growth in the market the way it did with Zelle? Joining me on the show is Early Warning’s Head of Paze, James Anderson. We discuss everything about Paze – from its conception to functionality, from its features to its distribution. James discusses whether the world needs another digital walle and whether consumers will be open to using a service like this offered from their bank. What will it take to get Paze integrated into merchant checkout? It’s all about creating supply and demand in a two-sided marketplace and James is on it. Here’s my conversation with Paze’s James Anderson.

33m

Jan 16

Welcome to the Tearsheet Podcast, where we navigate financial services together, with an eye on technology, innovation, new models, and changing expectations. I’m Tearsheet editor in chief, Zack Miller. This is the final episode in our special podcast series on Gen Z, where we explore the fascinating Gen Z deeper: their relationship with money, how they like to save, spend, and borrow money, their fears and aspirations, and their connections to social issues. On this episode, we’re going to be talking about creating products that Gen Z loves. To do that, I’m joined by two of the best product people in the business: Girish Balasubramanian, VP of Product Management at Credit Karma, and Vishal Kapoor, Head of Product at Affirm. Together, we peel back the onion on how these two firms strategize and tailor their products to resonate with the values, preferences, and financial behaviors of Gen Z consumers – and how this may different from other demographics. We also discuss the importance of financial literacy as an enabler for this generation to get on the financial responsibility train. Data plays a role here and we explore how to get the unlock to help Gen Z onboard to different financial products, responsibly and ethically. Tearsheet thanks our sponsor Publicis Sapient for their support. Read more and download customer research about Gen Z and financial services at www.steezlife.Co And before we jump into our conversation about building products Gen Z loves, I wanted to let you in on something we’re working on right now. We’re currently recruiting financial services professionals to work on this very topic – building products Gen Z loves. We’ve heard from you and in our reporting that figuring out how to service younger customers is growing increasingly important for your business. We want to facilitate making that happen. We’re hosting a series of working groups for professionals across the industry to communicate, collaborate, and tackle how to do this. Our group has senior executives from Citi, Synchrony, SoFi, UBS, Worldpay, US Bank, and more. Go to library.tearsheet.co/outlier to get more information. We have a couple spaces left and if you’re motivated, we’d love to have you join us.

43m

Jan 12

Welcome to the Tearsheet Podcast, where we navigate financial services together. We explore the future of financial services with an eye on technology, innovation, new models, and changing expectations. I’m Tearsheet editor in chief, Zack Miller. In today's episode, we dive into the dynamic world of financial institutions and their strategies for the year 2024. I’m thrilled to have had the opportunity to sit down with Serena Smith, Chief Client Officer at i2c, whose next-gen platform empowers financial institutions and fintechs of all sizes with no-code building block technology. Throughout our conversation, Serena shared insights garnered from her extensive experience and global perspective in the industry. From navigating the challenges faced by fintechs to addressing legacy technology obstacles within traditional banking, we explore the ever-evolving landscape of financial services. Serena's expertise sheds light on the trends shaping 2024, including the significance of real-time payments, the role of AI in financial services, and the critical need to meet the expectations of younger, digitally native generations like Gen Z and Gen Alpha. We also unpack i2c's innovative approach with a unified tech stack, empowering financial institutions to streamline their services across diverse geographies. Check out i2c's recent report on how younger customers make credit decisions. Download it here: https://www2.i2cinc.com/report-the-credit-economy?utm_source=Tearsheet&utm_medium=Referral&utm_campaign=The+Credit+Economy%3A+Tearsheet Join us as we delve into the opportunities, challenges, and transformative potential that lie ahead for financial institutions in the fast-paced world of 2024. Without further ado, let's delve into our enlightening conversation with Serena Smith.

28m

Jan 10

Welcome to the Tearsheet Podcast, where we explore the future of financial services with an eye toward technology, new models, innovation, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. One of the themes we’ve been charting over the past couple of years is the impact of moving to a world defined by real time – or close to real time – financial services. Real time payments isn’t just a tweak, a turning of the speed dial – it actually changes value propositions, expectations, and risk management the financial services industry has with its clients, both consumer and commercial. What’s also interesting is that as business becomes more global, the larger banks have moved in the opposite directions, for the most part backing away from becoming global banks, entrenching themselves in specific markets. Citi remains one of the few that maintains this positioning of being global. And as a global organization, Citi works has businesses with international aspirations through its Treasury and Trade Solutions Group. TTS is a rising star in CEO Jane Fraser’s plan to steer the bank forward. She actually called it a thing of beauty in a recent earnings call. I’m joined by Scott Damassa, Managing Director and Global Head of Sales for eCommerce, Technology, and Communications at Citi. Scott has had an upfront and close look at the needs of global companies and what they’re really looking for from their financial services providers. And speed seems to be near the top of all lists. We talk about the significance of speed in payment processing across different industries and how it can impact both clients and companies. Scott also shares what specific benefits he’s observed when organizations prioritize speed in payment processing. We discuss the importance of multi-stakeholder partnerships in servicing global organizations and how FIs and fintechs can best collaborate. Our conversation is interesting in that it’s about the present – but also the future – of Citi itself, as the firm formulates messaging around being a global partner bank for fintech and other tech firms. Here’s my discussion with Citi’s Scott Damassa.

26m

Jan 04

Lena Vann is SVP of Real Estate Secured Lending (RESL) Product & Risk Management at TD Bank. This fireside chat will focus on the evolution of lending to communities of color since the inception of mortgages to present day, from the unique and personal perspective of someone who grew up in a disenfranchised, urban community and later joined the industry. Lena Vann, Head of Real Estate Secured Lending (RESL) Product & Risk Management at TD Bank, will highlight the progress made, today's economic challenges, and how they impact the attainability of homeownership for minorities. She'll also provide an outlook on what can make the mortgage process more inclusive while balancing risk appetite, regulatory requirements, and other lender considerations. Lena is a seasoned leader with expertise in mortgage and home equity product management, operational risk management, enterprise and credit risk management. As SVP of Real Estate Secured Lending (RESL) Product & Risk Management for TD Bank, she is responsible for the end-to-end product lifecycle, portfolio strategy, and first line credit management oversight of all mortgage and home equity lending activities.

18m

Jan 02

Welcome to the Tearsheet Podcast, where we discuss the intersection of financial services and technology. In today's episode, we have a thought-provoking conversation with Jason Wilk, the founder and CEO of Dave, a neobank impacting the way Americans approach banking. Join us as Jason shares insights into Dave's mission, one that aims to level the financial playing field by providing free basic banking services to everyday Americans. Discover how Dave is at the forefront of catering to Gen Z's financial needs, with nearly half of its user base falling within this demographic. In this episode, we explore the innovative features that set Dave apart, from interest-bearing checking accounts to income-generating opportunities and a unique approach to credit access between paychecks. Jason delves into the company's strategies for integrating financial literacy directly into their products and services, aiming to empower users to make informed financial decisions seamlessly. We also uncover how Dave leverages new technologies, such as AI-driven customer support, and embraces social commerce trends, including influencer marketing, to resonate with and educate a generation inundated with financial information through social media platforms. Join us as we explore the future of banking, financial literacy, and the intersection of technology and finance with Jason Wilk, offering a glimpse into the innovative strategies driving Dave's success and its impact on shaping the financial habits of Gen Z. The big ideas Dave's Mission and Offerings: "We're on a mission to build products that level the financial playing field. At our core, we believe that basic banking should be free for everyday Americans." Key points: Offering free checking and savings accounts with no fees or interest, specialized access to credit between paychecks without interest or credit checks. Gen Z Engagement: "Nearly half our customers are Gen Z... We're very heavy on social media, influencer advertising, and we really speak to this generation." Key points: Heavy focus on social media and influencer marketing, addressing Gen Z's desire for reduced costs and increased access to credit. Features Catered to Gen Z: "Features like a checking account with 4% API, income-earning opportunities, surveys, and overdraft cash advance without interest." Key points: Interest on checking accounts, side hustles, surveys for earnings, and overdraft cash advance without interest or credit checks. Financial Literacy Integration: "Baking financial literacy into the product... insights into true spending power and charging $1 a month for financial insights." Key points: Providing simplified credit products, real-time insights into financial status, and integrating financial literacy into the product. Technological Innovation and Social Commerce: "Investing in AI customer support... Aligning with social commerce trends and leveraging influencer marketing." Key points: Focus on AI customer support for real-time assistance, alignment with social commerce trends, and leveraging influencer marketing for financial advice dissemination.

15m

Dec 19, 2023

In this Tearsheet Live, Marqeta CEO Simon Khalaf will dive into the credit space, discussing why there’s been such little innovation in credit cards in decades, and what’s on the forefront for innovation in credit technology. He’ll share what this means for brands hoping to reimagine how they foster customer loyalty, and for consumers who are increasingly savvy about using credit to further their financial goals. Simon will also discuss how embedded finance will fuel the growth of credit for brands seeking a new “homepage” of their digital experience. See the whole transcript of this conversation: https://tearsheet.co/?p=58080

31m

Dec 12, 2023

Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor, Zack Miller. This episode of the podcast explores how Gen Z interacts with financial services. We explore Gen Z's digital nature, their preferences for convenience, and their global outlook. The conversation touched on various financial tools and solutions offered by respective institutions to cater to Gen Z's needs. We discuss the importance of financial literacy, transparency, and authenticity in engaging and educating this generation about financial wellness. Additionally, we delve into topics such as cross-border remittances, early wage access, and the evolving landscape of financial technology and services for Gen Z. This conversation is part of a special podcast series where we explore the fascinating Gen Z deeper: their relationship with money, how they like to save, spend, and borrow money, their fears and aspirations, and their connections to social issues. Joining me on this episode is Brett Sussman, VP Head of Sales & Marketing at American Express, Business Blueprint & Banking, Ankita Dmello, Senior Product Manager at Wise, and Rob Nardelli, Director of Commercial Banking and Strategic Partnerships, at DailyPay. Tearsheet thanks our sponsor Publicis Sapient for their support. Read more and download customer research about Gen Z and financial services at www.steezlife.co Now, let’s talk about Gen Z and their connection with financial services

36m

Dec 06, 2023

Welcome to the Tearsheet Podcast, where we explore the dynamic intersection of data, finance, technology, and innovation. I’m Tearsheet’s editor in chief, Zack Miller. In today's episode, we dive deep into the world of data-driven decision-making with Ryan Swann, the Chief Data and Analytics Officer at Vanguard. At Vanguard, Ryan leads the charge in leveraging data analytics, AI, and machine learning to empower investors towards financial success. With a career spanning over two decades in this evolving field, he shares invaluable insights on the transformational journey Vanguard has undergone in centralizing their data and analytics functions. In our conversation, Ryan unveiled the challenges and triumphs encountered along the path of centralization, shedding light on the pivotal role of aligning data strategies with the overarching business objectives. His vision of combining offensive strategies—such as hyper-personalization and Gen AI—with defensive approaches like privacy by design sets the stage for Vanguard's forward momentum in 2024. Join us as we explore the dynamic fusion of finance and data science through the lens of Ryan Swann, offering a wealth of expertise and foresight in Vanguard's data revolution. The big ideas 1. Centralization for Efficiency and Business Alignment "Yeah, initially, Vanguard had data and analytics teams across the business creating value, but we wanted to scale the use of data analytics... so that's where the impetus came to centralize." 2. Challenges of Centralization and Organizational Shifts "In a decentralized organization, data professionals see very little career pathing... As data and analytics become more integrated, it becomes harder to retain talent." 3. Balancing Centralization and Business Integration "We brought those organizations together but kept them co-located with the business... they still got that close touchpoint with the business." 4. Impact on Career Development and Talent Attraction "By centralizing in the CDO, those data analytics professionals now have a career path... it allows them to rotate into different parts of the business." 5. Diverse Talent and Its Impact on Innovation "Individuals from different backgrounds bring that knowledge into data science... you end up with solutions that you would have never thought of." 6. Value Creation and Cost Savings through Data Initiatives "Over the year, we had a number of initiatives across the organization... it's a combination of things, but it's coming together as an organization." 7. Vision for 2024: Convergence of Offensive and Defensive Data Strategies "Combining offensive strategies like hyper-personalization with defensive approaches like privacy by design... sets the stage for Vanguard's forward momentum."

29m

Dec 01, 2023

On this Tearsheet Live, I'm joined by Nick Babinksy, Chief Product Officer at Solutions by Text. We're going to be talking about the state of bill pay, digital payment trends, and growing demand for text. The big ideas Shift Towards Text-Based Interactions: The trend is moving towards simplicity and convenience in bill payments, leveraging text-based interactions for ease and engagement."Text-based interactions offer simplicity and convenience in an era of overwhelming digital experiences." Challenges in Bill Payments: Consumers predominantly make one-time payments, leading to implications in consumer support and reminder strategies for providers."The majority of consumers are still paying bills on a one-time basis, posing challenges for providers in supporting these manual transactions." The Power of Text for Payments: Text messaging, being a ubiquitous and normalized experience, presents an opportunity for seamless and simplified bill payments."Thinking about the bill pay experience over text enamored me; it's the most simplistic form of transacting with billers." Balancing Simplicity with Compliance: Tailoring messages for consumers while adhering to regulatory compliance forms the crux of an engaging yet controlled messaging approach."The balance lies in being engaging while ensuring compliance in messaging, enabling faster conversions and higher engagement." Consumer Engagement and Advice: Consultative approaches towards consumer engagement, educating and guiding them for better financial practices, foster brand loyalty."Consulting consumers on managing their money or paying bills leads to more brand loyalty and engagement." Text Adoption Across Generations: While younger demographics easily adopt text for payments, the trend is extending to older generations seeking simplicity in interactions."Text adoption spans generations; it's less intimidating than logging into websites, making it a winning strategy for engagement." Text Channel Development: Text messaging as a channel is evolving, with advancements in opt-in regulations and efforts to maintain a less noisy, more direct consumer interaction."Text channels are evolving with opt-in regulations, aiming for direct, less noisy consumer interactions."

24m

Nov 29, 2023

Welcome to the Tearsheet Podcast, where we dive deep into the intersection of financial services and technology. I’m Tearsheet’s editor in chief, Zack Miller. On today's episode, we have Brendan Coughlin, Vice Chair and Head of Consumer Banking at Citizens Bank, guiding us through the intricate world of banking transformations and how they're catering to the evolving needs of customers, including the Gen Z demographic. The conversation unfolds as Brendan shares invaluable insights into the big shifts within the banking sector, accelerated by the pandemic's digital thrust. He delves into how Citizens Bank navigated this change, emphasizing the critical role of digital while recognizing the enduring significance of in-person interactions, especially for Gen Z, the true digital natives. We explore the profound evolution of customer expectations, moving beyond mere convenience towards value creation and personalized experiences. Brendan sheds light on Citizens Bank's strategies, like the bank’s "Citizens Plus" rewards platform and its proactive approach to financial advice, leveraging data and analytics to enhance customer financial confidence. The discussion extends beyond products and services to encompass broader economic environments, unveiling Citizens Bank's strategies in navigating economic challenges, their differentiation in the highly competitive landscape, and its concerted efforts to provide a holistic view of customers for personalized offerings while maintaining data privacy and customer trust. Here’s my conversation with Brendan. You can access a transcript on our website here: https://tearsheet.co/?p=57600

34m

Nov 21, 2023

Welcome to the Tearsheet Podcast. I’m Tearsheet editor in chief, Zack Miller. We’ve got a great show prepared for you today. We’re going to be talking about "Reimagining the Last Mile in Banking and the BaaS Business Models that will ensure Safe and Secure Delivery of Financial Products." We’ve assembled a panel of experts that will provide valuable insights into the current state and the future of Banking as a Service business models. You’ll hear how these models are morphing to reshape the financial industry. As we explore where banking and BaaS has evolved from, we’ll also tackle BaaS Business Models in the future and the Path Forward for the different players in the ecosystem. Joining me on the show today is  🔷 Kate Drew, Director of Research at CCG Catalyst Consulting Group: Kate brings over a decade of industry experience and is a renowned fintech thought leader. Her insights have been featured in publications like CNBC, The Fintech Times, and Business Insider, making her a sought-after expert in the field. 🔷 John Bearden, Chief Banking Officer, Thread Bank: John is CBO of Thread Bank. Previously, he served as President of the Middle Tennessee Banking Group at Renasant Bank. He previously led the Depository Fixed Income practice at Stifel Financial and Sterne Agee where he worked with depository institutions around the country. 🔷 Sarah Howell, Head of Partnerships at Infinant: With her background in card payments and fintech, Sarah is a key figure in the BaaS landscape. She has played a vital role in the launch of Apple Pay and has been a thought leader during her tenure at Visa. Her insights have been featured in publications like American Banker and The Financial Brand. Tearsheet thanks our partner Infinant for helping make this conversation, and others like it, a reality. Without further ado, here’s our show

32m

Nov 17, 2023

This episode of the podcast explores how Gen Z’s penchant for bringing social issues to the forefront impacts the financial services they use and their choice of providers. We look at one particular partnership between Klarna and Good on You that demonstrates the power to serve Gen Z via a collaboration that combines sustainability with financial services. We’ll also explore how some of the largest financial institutions can navigate this new generation by more deeply understanding them – it will require some evolution, though. This conversation is part of a special podcast series where we explore the fascinating Gen Z deeper: their relationship with money, how they like to save, spend, and borrow money, their fears and aspirations, and their connections to social issues. Joining me on this episode is Salah Said, Head of Sustainability at Klarna, Dave Donovan, Head of Publicis Sapient’s Financial Services Practice in North America, and JD Shadel, Editor at Large at Good on You, which publishes data on 5,000 fashion brands’ sustainability. Tearsheet thanks our sponsor Publicis Sapient for their support. Read more and download customer research about Gen Z and financial services at SteezLife. Now, let’s talk about Gen Z, financial services, and social issues. **The big ideas** * Gen Z's Impact on Financial Services: Gen Z is reshaping the financial services industry through their strong focus on sustainability, ethical practices, and social impact. Financial institutions must adapt to meet the values-driven demands of this generation. * Sustainability as a Key Driver: Sustainability is no longer just a buzzword; it's becoming a key driver in financial decision-making for Gen Z. They prioritize financial health, social impact, and making investments that align with their values. * Technological Solutions: Technology, particularly fintech, is playing a significant role in promoting sustainability within financial services. Digital-only banking platforms, eco-friendly credit cards, blockchain, and crowdfunding are some examples of tech-driven sustainability solutions. * Collaborations for Impact: Collaboration between companies and organizations is crucial to drive sustainability efforts forward. Partnerships, like the one between Good On You and Klarna, are instrumental in making sustainability accessible and empowering consumers. * Fashion Sustainability: Sustainable fashion is gaining popularity among Gen Z, influencing their lifestyle choices and financial decisions. A growing emphasis on circularity and expecting brands to communicate their sustainability efforts are key trends. * Consumer Empowerment: Empowering consumers with information is essential. Tools that help track carbon emissions, round up change for sustainability projects, and promote ethical credit cards are becoming increasingly relevant in helping consumers make sustainable choices. * Inclusion and Affordability: Accessibility to sustainable products and financial services is vital. Large enterprises should aim to provide more inclusive financial instruments, ensuring that sustainability is not just an option for those with financial means.

43m

Nov 13, 2023