Tearsheet Podcast: Exploring Financial Services Together

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.

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.

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.

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.”

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." -

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.

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.

Welcome to the Tearsheet Podcast where we explore the future of financial services with an eye on technology, new models, innovation, and changing expectations. I’m Tearsheet editor in chief, Zack Miller. In the early days of Tearsheet over 10 years ago, we spent more time covering private markets for assets. Remember back, that was the crowdfunding and equity crowdfunding era. There was a view that this massive market, arcane in structure and available to the wealthy, would be opened up by tech and some regulatory changes and that a dentist in Chicago would get access to the same deals Blackstone and Andreesen Horowtiz were investing in. So, it doesn’t feel like equity crowdfunding really lived up to the hype but the market continues to grow and mature. Most of the big wins come not from investing in individual companies but in funds. Jamie Finn, co-founder and president of Securitize, joins me on the podcast to talk about where we are with investing in privately held companies and funds. His firm’s platform, Securitize, enables smaller investors to tap into some popular private equity funds directly and through secondary transactions. Behind the scenes, Securitize is doing this on the blockchain. It’s not something Jamie explains right away – it seems to be something they’ve built out but the main pitch is on alternative assets and not necessarily on the fact that these have been designed as digital assets. Jamie shares the genesis of the company and how he sees the market for alternative assets maturing in the future. Securitize’s Jamie Finn is my guest today on the Tearsheet Podcast.

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/

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/

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

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.

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.

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.

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.