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Fintech Takes

Written by: Alex Johnson
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  • Summary

  • Fintech moves fast. But here at Fintech Takes, Alex Johnson and his rotating panel of guests move faster so that you can stay on top of the latest and greatest news in the industry without breaking a sweat. Welcome to Fintech Takes—the place where fintech’s biggest nerds come to sit back, relax, and completely geek out. Join Alex and a lineup of fintech’s brightest minds as they dissect what’s happening in fintech and banking. Each week, Alex and his guests recap the most interesting developments in fintech and explore the industry’s most pressing questions, diving headfirst into the intricate workings of some of the industry’s most ground-breaking business models and unpacking the emerging players that promise to shape fintech’s future. From riveting conversations with fintech’s most relevant operators to comprehensive recaps of the month's most compelling news stories and in-depth analyses of the latest regulatory developments, Fintech Takes is your one-stop-shop for navigating the fintech universe. Subscribe now to join fintech’s nerdiest podcast around!
    Copyright 2023 Alex Johnson
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Episodes
  • S7 Ep6: Bank Nerd Corner: Unpacking Federal Reserve Master Accounts with Julie Hill

    S7 Ep6: Bank Nerd Corner: Unpacking Federal Reserve Master Accounts with Julie Hill
    May 15 2024
    We have a lot of questions when it comes to Fed Master Accounts. And thankfully, Julie Hill, Vice Dean and Alton C. and Cecile Cunningham Craig Professor of Law at the University of Alabama, is here to answer them! In this special edition of Bank Nerd Corner, Julie helps Alex and Kiah unravel the many legal mysteries of the Federal Reserve’s Master Accounts. Julie breaks down the history of the Fed’s payment systems and explains how access to those systems (via Master Accounts) impacts banks and fintech companies. How do these “bank accounts for banks” work? Which banks can get them? And what happens if access to them is taken away? Kiah, Alex, and Julie discuss the role of the Fed as a payments facilitator, as opposed to a regulator, and unpack why it’s nearly impossible to make money in payments without having a Master Account. And later, they dive into the troubling report of sexual harassment at the FDIC, and spend a few minutes marveling at (and ranting about) where bank routing numbers come from. 00:01:56 - Understanding Federal Reserve Master Accounts 00:14:19 - Credit Union Applies to Serve Cannabis Industry 00:17:22 - Federal Reserve and American Samoa's Money Laundering Dilemma 00:27:57 - Federal Reserve's Transparency on Master Accounts 00:35:07 - Federal Reserve Announces New Supervision Team 00:45:01 - Federal Reserve's Role in Money Laundering 00:51:31 - FDIC Sexual Harassment Review Findings 00:59:46 - Collaborative Structures Improve Aviation Safety 01:02:55 - American Banking Association Still Provides Routing Numbers TruStage Payment Guard Insurance is a first-of-its-kind insurance solution built for digital lenders, designed to help you attract more borrowers, strengthen your loan portfolio and reduce time spent on collections — all with minimal tech lift needed to go live. To learn more about Payment Guard Insurance, visit https://www.trustage.com/payment-guard. Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don’t forget to check out my YouTube page. Follow Julie: LinkedIn: https://www.linkedin.com/in/julie-hill-15929821/ Twitter: https://twitter.com/ProfJulieHill Follow Kiah: LinkedIn: https://www.linkedin.com/in/khaslett/ Twitter: https://twitter.com/khaslett Follow Alex: YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos LinkedIn: https://www.linkedin.com/in/alexhjohnson Twitter: https://www.twitter.com/AlexH_Johnson
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    1 hr and 5 mins
  • S7 E5: Fintech Recap: Tipping is Bullshit, Synapse’s Final Chapter, & Pay By Bank’s Intriguing Future

    S7 E5: Fintech Recap: Tipping is Bullshit, Synapse’s Final Chapter, & Pay By Bank’s Intriguing Future
    May 8 2024
    The tulips are blooming and the windmills are churning—so where in the world is Jason Mikula this week? Jason calls into the pod live from the beautiful Netherlands to break down the latest in fintech news with Alex. First on the plate? The final chapter in the Synapse bankruptcy saga. After Synapse sold all of its assets to TabaPay for $9.7 million and settled its dispute with Evolve, it appears all parties are walking intact from the ordeal. What did we learn? And what BaaS drama is coming next? Uber announced it will be implementing pay-by-bank. Not terribly surprising given large merchants’ obsessive focus on reducing payment acceptance costs, but will smaller merchants follow suit? And what do consumers think of pay-by-bank? Also, pardon our French, but tipping in fintech is complete and utter bullshit. Fintech companies are NOT college students struggling to pay the rent, so why are companies like Dave begging consumers for tips? And how is earned wage access legislation allowing it to be a thing? Alex and Jason go off about tips and discuss the future of EWA. Plus, Alex and Jason tackle the consent order between the CFPB and BloomTech before diving into this week’s “Can’t Let It Go” segment (and let’s just say that tech needs to grow a tougher shell). TruStage Payment Guard Insurance is a first-of-its-kind insurance solution built for digital lenders, designed to help you attract more borrowers, strengthen your loan portfolio, and reduce time spent on collections — all with minimal tech lift needed to go live. To learn more about Payment Guard Insurance, visit https://www.trustage.com/payment-guard. Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don’t forget to check out my YouTube page. Follow Jason: Newsletter: https://fintechbusinessweekly.substack.com/ LinkedIn: https://www.linkedin.com/in/jasonmikula/ Follow Alex: YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos LinkedIn: https://www.linkedin.com/in/alexhjohnson Twitter: https://www.twitter.com/AlexH_Johnson
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    1 hr and 13 mins
  • S7 E4: Not Fintech Investment Advice: Modak Makers, Casap, Silver, Elpha Secure

    S7 E4: Not Fintech Investment Advice: Modak Makers, Casap, Silver, Elpha Secure
    May 1 2024
    Alex is back with the great and powerful Simon Taylor to unpack some of fintech’s most interesting fintech startups. We’re barely beginning the month of May, and it looks like there’s yet another family credit card app to unpack—but this one actually feels different. Can Modak Makers succeed where other family cards have floundered? And how does its unique points rewards system for things like chores, sensible savings habits, and step count help it to distinguish itself from the pack? Then, Alex and Simon tackle Casap, a new customer-centric chargeback and dispute management system that firmly believes the customer is always right. But if the customer is a fraudster… should they always be right? The guys noodle on a few ideas about how it may (or may not) be possible to make a less fraud-friendly, more customer-centric app. Plus, does anyone truly know how an HSA or an FSA works? Silver is certainly banking on it, and hoping that its HSA/FSA rebates program is enough to reel potential consumers in—but does it have a customer acquisition model worth its weight? And later, Alex and Simon cover Elpha Secure, the cybersecurity insurance app looking to bundle its software with its insurance service, before manifesting a few ideas about creating a dynamic pricing app and revamping the entire video game industry. TruStage Payment Guard Insurance is a first-of-its-kind insurance solution built for digital lenders, designed to help you attract more borrowers, strengthen your loan portfolio, and reduce time spent on collections — all with minimal tech lift needed to go live. To learn more about Payment Guard Insurance, visit https://www.trustage.com/payment-guard. 02:09 Modak Makers 12:58 Casap 28:38 Silver 41:06 Elpha Secure 51:38 Manifesting Fintech Ideas Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don’t forget to check out my YouTube page. Follow Simon: LinkedIn: https://www.linkedin.com/in/sytaylor/ Substack: https://sytaylor.substack.com Follow Alex: YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos LinkedIn: https://www.linkedin.com/in/alexhjohnson Twitter: https://www.twitter.com/AlexH_Johnson
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    1 hr and 4 mins
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