Operate Podcast

Brooke Ybarra and I dive into the intricacies of innovation and transformation within the banking industry in this episode. She is currently SVP of Innovation and Strategy at the American Bankers Association (ABA). Brooke shares her unique career journey, starting with the CIA, strategy consulting, a significant corporate role during the pandemic, and finally her impactful position at the ABA. We discuss how she has infused creativity and a forward-thinking mindset into the association, particularly focusing on how partnerships between banks and fintechs are evolving and the current state of innovation in banking.

Brooke emphasizes the importance of aligning technological advancements with customer needs and how banks can leverage external solutions to meet these needs effectively. We also touch on the challenges of infrastructure upgrades, the relevance of middleware, and the shift towards a more digitized banking environment. Furthermore, we explore the role of AI in banking, how banks can stay competitive with non-bank financial services, and ways to attract new talent into the banking industry. Brooke provides valuable insights on maintaining integrity, continuous learning, and embracing change. This episode is packed with productive thoughts and expert perspectives on how banks can navigate and thrive in the rapidly changing financial landscape.

Thanks to show sponsor, BankTech Ventures.

Chapter Markers 

00:00 Preview

00:57 Intro

01:13 Sponsor

01:47 Guest Introduction: Brooke Ybarra

02:59 The Intersection of Banking and Technology

04:24 Current State of Innovation in Banking

05:50 Challenges and Opportunities for Banks

08:01 The Role of ABA in Banking Innovation

17:29 Diversifying Revenue Streams for Banks

22:10 Infrastructure Challenges in Banking

26:04 The Digital Transformation Imperative

28:38 Fraud Concerns in Digital Banking

29:49 The Importance of Online Presence

30:58 AI in Banking: Current State and Future Prospects

34:55 Customer Expectations and Personalization

37:26 Challenges in Data Infrastructure and Literacy

39:30 Finding the Right Technology Partners

41:11 Attracting Talent to the Banking Industry

44:10 Non-Bank Competition and Regulation

46:31 Brooke's Journey to the ABA

49:41 Brooke's Core Values

51:13 Brooke's Habits/Rituals

52:37 Advice for Early Professionals

54:48 Outro

In this episode of the Operate Podcast, we explore the complex and crucial topic of technology transformation within the banking sector, with Kristiane Koontz, EVP and Director of Treasury Services and Payments at Zions Bancorporation. We dive into the significance of replacing legacy banking systems, a daunting project that Kristiane and her team successfully completed over a decade-long journey. Kristiane sheds light on the challenges of a complete business transformation and how much bigger it is than a "core conversion." She explains how Zions maintained operational continuity while integrating new technologies, and restructured organizational processes and data governance systems. Zions' commitment to this massive overhaul shows their goal of staying competitive and efficient in a rapidly evolving banking industry.

We also discuss the broader implications for U.S. community banks and the role of technology partners in driving innovation. Kristiane elaborates on how Zions' transformation efforts have positioned them uniquely and competitively within the market, enabling faster product development cycles, enhanced customer experiences, and improved data utilization for fraud prevention and personalization.

Additionally, Kristiane shares her perspective on the future of banking, particularly the importance of easier technology access for community banks and strategic vendor partnerships. She emphasizes that continued innovation and adaptability are vital for community banks to thrive amidst industry consolidation and change. Kristiane generously shares her insights on leading a transformative project and also offers advice to those entering the profession today, highlighting the significance of continuous learning and understanding the core business of banking.

Thank you to show sponsor, BankTech Ventures.

Chapter Markers

00:00 Preview

01:15 Intro

01:32 Sponsor

02:08 Guest Introduction: Kristiane Koontz

03:26 Challenges of Legacy Banking Technology

05:31 The Complexity of Core Transformation

08:26 Global Perspectives and U.S. Core Providers

12:26 Zions Bank's Core Transformation Journey

22:53  Real-Time System Benefits and ROI

25:59 Team Morale and Future Innovations

29:02 Leveraging Broader Banking Transformation

29:54 Investing in Treasury and Payments

30:36 Customer-Centric Transformation

33:35 Strategic Partnerships and Vendor Management

39:52 Unified Customer Experiences

42:17 Digital Transformation Challenges

47:32 Leadership Insights

51:56 Personal Rituals

54:30 Advice for Future Bankers

56:20 Outro

In this episode of the Operate Podcast, we explored the transformation of the banking sector through technology, leadership, and community engagement. Our guest, Marc Rehberger, delves into his journey from technology companies to leading tech-enabled banking at Customers Bank. We discussed cutting-edge advancements in real-time payments, the strategic adoption of technologies like RTP and FedNow, and their long-term impacts on financial institutions. The discussion highlighted how banks have adapted to unprecedented times, emphasizing agility, decision-making, and the integration of modern FinTech solutions with traditional banking practices. We also touched on the invaluable role of community banks in the U.S. financial system, their unique understanding of local markets, and the collaborative ecosystem they foster. Throughout the episode, we emphasized the balance between technological adoption, regulatory compliance, and maintaining personal customer relationships, which we both believe will persist in banking. Marc shared his insights on leadership, the power of mentorship, and the importance of investing in people, concluding with practical advice for professionals eager to innovate in their banking careers. Tune in to discover how combining traditional banking strengths with modern technology creates a dynamic and exciting environment for both customers and employees.

Thanks to show sponsor, BankTech Ventures!

CHAPTER MARKERS:

00:00 Preview

00:37 Intro

00:54 Sponsor

01:28 Guest Introduction: Marc Rehberger

02:40 Marc's Career Journey

05:17 Transition to Customers Bank

07:56 Role and Responsibilities at Customers Bank

15:14 Challenges and Successes in Banking

24:37 The Importance of Community Banks

27:28 Challenges Facing Community Banks

29:04 The Importance of Technology Partnerships

31:31 Advice for Bankers on Tech Integration

36:43 The Role of Core Technology in Banking

38:47 The Future of Banking: Open Banking and Portability

47:55 Core Values and Personal Reflections

50:53 Advice for Early Career Professionals

52:59 Conclusion and Final Thoughts

In this episode of the Operate Podcast, we take a behind-the-scenes look at the birth of fintech P2P and marketplace lending with Peter Renton, one of its pioneers. Peter shared his extensive background, starting from his early days as a self-directed investor to founding key fintech companies like Lend Academy and LendIt, which later became Fintech Nexus. We discussed his journey into peer-to-peer lending and its evolution as institutional investors entered the space. The conversation spans the rise of fintech innovation, the challenges of scaling peer-to-peer platforms, and the role of community banks in the future of financial services. Peter recounted the bubble in the fintech lending space around 2015 and how the industry adapted following the Lending Club debacle in 2016. He also shared his advice for fintech founders, emphasizing the importance of diversification in funding sources and customer acquisition strategies. 

We delved into notable companies like Upstart and their pivots in the fintech landscape. Additionally, Peter reflected on the transition from LendIt to FinTech Nexus to encompass a broader range of fintech innovations for their content and events. We touched on the increasing interest of banks in fintech events from 2016 onwards and the changing landscape post-pandemic. Peter discussed emerging trends in fintech, such as embedded lending, mobile wallets, and new payment rails. He highlighted the necessity for community banks to adopt technology and attract younger customers. Lastly, Peter introduced his new consulting venture, Renton & Co, aimed at guiding fintech companies through content strategy, marketing, and market analysis. Enjoy this comprehensive look at the past, present, and future of fintech.

 

CHAPTER MARKERS:

00:00 Preview 

00:34 Intro

00:47 Sponsor

01:19 Meet Peter Renton: A Fintech Pioneer

02:50 Peter's Early Fascination with Finance

04:04 Discovering Peer-to-Peer Lending

05:36 Building Lend Academy and LendIt

09:21 The Evolution of Marketplace Lending

18:39 Reflections on the Fintech Lending Boom

27:19 Kudos to Dave Girard (UpStart) and Team

28:04 The Shift to FinTech Nexus

29:04 Expanding Beyond Lending

32:16 Challenges and Stress of the Events Business

32:48 The Impact of the Pandemic

33:54 Future of FinTech and Embedded Lending

37:47 The Role of Community Banks

42:38 Advice for Community Bank CEOs

49:18 Peter's New Venture: Renton & Co

In this episode, we get an insider look into the financial technology landscape with Jason Mikula. Jason shares his journey, from his unexpected entry into financial services and digital marketing to launching the publication Fintech Business Weekly. He emphasizes the importance of understanding customer acquisition metrics and analyzes the evolution of fintech innovations like online lending, BNPL, Banking as a Service, etc.

We delve into the mechanics of Banking as a Service (BaaS) and the complex relationships between fintechs, middleware platforms, and banks. Jason is currently in the middle of reporting on news as it breaks around Synapse, Evolve and several fintechs, as well as the thousands of customers caught in the middle of it. He highlights the regulatory challenges and the balancing act between risk and growth. Our discussion also addresses the current regulatory landscape and the future of partner banking, stressing the need for sustainable and economically sound practices. Tune in for a comprehensive conversation that explores the intricacies of fintech and digital banking services.

CHAPTER MARKERS:

00:00 Preview

00:45 Intro

00:58 Sponsor

01:31 Meet Jason Mikula, Analyst and Writer of FinTech Business Weekly

03:23 Jason's Background in Financial Services

04:27 Joining Enova and Learning Subprime Lending

05:22 Marketing Metrics and Customer Acquisition

07:05 Challenges in Digital Financial Services

09:09 The Importance of Digital Marketing in FinTech

14:29 Starting FinTech Business Weekly

17:38 Analyzing the FinTech Landscape

20:10 Insights on BNPL and Market Valuations

23:32 Banking as a Service and Middleware Companies

31:49 Regulatory Challenges and Partner Banking

40:23 Regulatory Priorities and Market Impact

44:46 Systemic Risks and Community Banks

48:53 Conclusion and Final Thoughts

In this episode of the Operate Podcast, we give you a behind-the-scenes look at company building with Isabella Sun, Founder and CEO of Short Story, a subscription e-commerce company serving petite women. The discussion sheds light on Isabella's journey from a structured finance career to becoming a successful e-commerce entrepreneur catering to a niche market. We explore how a personal pain point sparked the idea for Short Story and how comprehensive market research highlighted the need for better-fitting apparel for petite women.

Isabella shares her unconventional path to e-commerce, including her participation in Y Combinator and the early days of building Short Story from her apartment. We discuss the challenges and milestones of growing the company, the importance of understanding customer needs through data, and the nuances of creating products that foster loyalty and excitement among customers.

The conversation also covers how Short Story has managed to achieve profitability without heavy reliance on marketing, leveraging organic growth and customer satisfaction. Isabella highlights her strategies for financing the company creatively and the role of technology and data in scaling operations. This episode provides valuable insights into staying ahead in a competitive market through continuous innovation and an unwavering focus on customer experience.

Towards the end, we dive into Isabella’s personal routines, the mental toughness required for entrepreneurship, and her advice to budding entrepreneurs. This episode offers an inspiring look at how a strong vision and an obsessive customer-centric approach can lead to extraordinary results.

Thank you to episode sponsor, BankTech Ventures.

CHAPTER MARKERS:
00:00 Preview
01:00 Intro
01:13 Sponsor
01:45 Meet Isabella Sun, Founder of Short Story
03:22 Identifying a Market Need
05:07 Early Challenges and Growth
08:35 Customer Connection and Proud Moments
11:14 Navigating E-commerce and Apparel Industry
14:39 Leveraging Data and Technology
23:41 Future Opportunities and Competitor Insights
28:32 Biggest Misconceptions 
31:20 Personal Insights, Rituals, & Entrepreneurial Journey
37:53 Closing Thoughts

In this episode of the Operate Podcast, we got a behind-the-scenes look at company building from Tiffany Haynes, COO at Fingercheck. Tiffany discussed her transition from a 19-year career at Jack Henry to her role at Fingercheck, a startup focused on payroll and HR services for small businesses. She highlighted the challenges and learning curves she faced and the importance of establishing foundational structures for growth. Tiffany emphasized the need to slow down before speeding up and building a solid organizational core.

Tiffany also reflected on her various roles at Jack Henry, including Chief People Officer and General Manager of a business unit that supported over 100 banks and credit unions. She shared her passion for transformational work and the importance of growth and resilience. These experiences provided her with deep insights into the banking industry's inner workings and maintaining strong customer relationships, which have been invaluable in her current role at Fingercheck.

The discussion included Fingercheck's market differentiation by offering enterprise-level capabilities, tailored for small businesses. Tiffany talked about the company's mission to automate administrative tasks, allowing small business owners to focus on what truly matters. She shared her excitement about the company's growth potential and the team's unity, describing the joy of achieving their goals together.

She provided strategic insights into the future of banking, emphasizing the need for regulatory clarity and collaboration among traditional banks, fintechs, and other stakeholders. She stressed the importance of a customer-centric approach, balancing personal relationships with digital convenience. Finally, Tiffany offered advice for early career professionals, encouraging them to take risks, stay resilient, and deliver meaningful work that improves lives.

Thanks to show sponsor, BankTech Ventures.

CHAPTER MARKERS:

00:00 Preview

00:46 Intro

00:55 Sponsor

01:28 Meet Tiffany Haynes: COO at Fingercheck

02:39 Transitioning from Corporate to Startup

04:13 Challenges and Surprises in a Startup Environment

08:47 Fingercheck's Unique Market Position

13:49 Reflections on Jack Henry and Career Highlights

27:37 Challenges in Banking Sales and Marketing

29:45 Understanding Consumer Needs

32:17 Adapting to Digital Transformation

34:09 Innovative Ideas for Banking Industry

39:52 Personal Journey in Banking Tech

44:04 Balancing Work and Personal Life

47:24 Role and Success as a  

49:16 Current Challenges in Sales and Marketing

50:35 Advice for Early Career Professionals

52:12 Closing Remarks

In this episode of the Operate Podcast, we dive deep into the evolution of 'Banking as a Service' (BaaS) and its complexities. My guest, Rafael DeLeon, the SVP of Industry Engagement at NContracts, shares his extensive insights on the partnership dynamics between community banks and fintech companies. We explored how these relationships started, the operational challenges they faced, and how they've matured over time. Rafael discussed the importance of trust, risk management, and regulatory compliance in these partnerships, highlighting the transition from what he calls the 'Wild West' of BaaS to a more structured environment today.

We also talked about the broader regulatory environment in the banking industry, focusing on how regulators are handling the rapid pace of change, interest rates, and macroeconomic challenges. Rafael provided his perspective on recent enforcement actions and what they signal to the industry, emphasizing the need for transparency, strong risk management systems, and strategic planning.

From there we addressed the impact of technology on smaller banks and how it can enable them to be more efficient and competitive. Rafael shared his optimistic outlook on the future of community banking, particularly how fintech partnerships and regulatory guidelines will shape the industry's landscape.

Towards the end of our conversation, Rafael reflected on his career transition from a long tenure at the OCC to his current role at Ncontracts. He discussed how his new position allows him to leverage his regulatory expertise and passion for the banking industry to foster innovation and compliance. This episode provided a comprehensive look at the current and future state of community banking, making it a must-listen for anyone interested in financial services, fintech, and regulatory affairs.

Thank you to show sponsor, BankTech Ventures.

EPISODE CHAPTER MARKERS:

00:00 Preview

00:36 Intro

00:49 Sponsor

01:21 Meet Rafael DeLeon: SVP of Industry Engagement at Ncontracts

02:27 Banking as a Service: Challenges and Evolution

05:58 Regulatory Oversight and Compliance

10:56 Risk Management in Banking Partnerships

19:46 Future of Banking and Regulatory Environment

35:36 Technology's Role in Small Banks

38:09 Bridging the Tech-Bank Language Gap

41:27 Journey to Becoming a Bank Regulator

47:20 Transition to NContracts

50:19 NContracts' Growth and Innovations

53:38 Rafael's Superpower: Connecting People

56:23 Future of Banking: AI and Payments

57:50 Regulatory Vigilance and Risk Management

59:47 Accountability in Regulatory Agencies

01:01:05 Final Thoughts and Farewell

In this episode of the Operate Podcast, we delve into the use of AI & Machine Learning within the commercial real estate lending industry. My guest is Shayne Skaff, co-founder and CEO of Blooma, a SaaS company revolutionizing commercial real estate lending and portfolio management.

Our discussion outlines Shane's entrepreneurial journey, the origins of Blooma, and the challenges and opportunities within the commercial real estate market. Shane shares insights into the impact of technology on underwriting and portfolio management, the adaptability of the workforce to technological advancements, and the significance of community banks to the economy. The conversation also touches on the future of machine learning and AI in banking, the importance of data quality, and the vision for Blooma to facilitate lender and borrower connections and streamline the syndication process within commercial real estate.

Thanks to show sponsor, BankTech Ventures.

CHAPTER MARKERS:
00:00 Preview
00:33 Intro
00:46 Sponsor
01:16 Meet Shayne Skaff: Co-Founder & CEO of Blooma
02:26 Navigating the Complex Landscape of Commercial Real Estate Loans
07:16 The Evolution of Blooma: From Idea to Industry Innovation
10:08 Bridging the Gap: Technology Adoption Across Generations
17:55 The Future of Commercial Real Estate: A Vision for Innovation
20:18 Harnessing AI and ML: The Backbone of Blooma's Technology
25:40 The Challenge of Data Management in Banking
27:42 The Entrepreneurial Journey: Insights from Shane Scaff
38:47 Mentorship and Continuous Learning: A Founder's Perspective
43:53 Looking Ahead: Family, Business, and the Future

In this episode, we delve into cybersecurity and the importance of making it relevant to each individual, beyond just their organization. My guest is David Shipley, Co-founder and CEO of Beauceron Security. David shares his journey from a career-altering cybersecurity incident at the University of New Brunswick to leading a cloud-based platform designed to enhance personal and organizational cybersecurity practices by empowering people to be in control of technology. The discussion explores current cybercrime trends in the banking industry, as well as the impact of geopolitical instability and technological advancements on cyber risk, the role of AI in both aiding and complicating cybersecurity efforts, and strategies for building positive security cultures within organizations. He also reflects on the challenges and rewards of growing a startup in Canada, emphasizing the importance of team resiliency, continuous learning, and embracing failure as a pathway to innovation. 

Thanks to show sponsor, BankTech Ventures.

CHAPTER MARKERS:

00:00 Introduction

01:14 Meet David Shipley: From Military to Cybersecurity CEO

02:28 Current Cybersecurity Challenges and Trends

07:36 Strategies for Banks to Combat Cyber Threats

17:23 The Beauceron Inception Story: A Cybersecurity Journey

26:05 Evolving Security Awareness Training

26:59 Customer Success Stories: Phishing Defense and Employee Training

30:13 Reflections on the Startup Journey

33:27 The Impact of Cybersecurity Work

35:45 Operating a Canadian Startup

41:14 Looking Ahead: Growth, AI, and the Future of Cybersecurity

46:34 David's Rituals & Disciplines

50:24 Closing Remarks