Fintech Confidential DD3, Media

In this episode of Accrued, hosts Tedd Huff and Colton Pond chat with Scott Johnson, the Senior VP of Business Development at Galileo Financial Technologies. Scott shares his experiences and insights from his 20 years at Galileo, a leading FinTech platform owned by SoFi Technologies. They discuss how Galileo powers major players like Chime and Monzo, and the challenges and opportunities in the FinTech industry.
Scott tells a funny story from Galileo's early days when the company almost had a disaster during a visit from MasterCard due to a water leak. He also talks about the company's decision to publish APIs over a decade ago, which was a bold move at the time and helped them grow significantly.
The conversation covers Galileo's role in the FinTech landscape, focusing on their expansion into Latin America and the importance of modernizing banking infrastructure. Scott highlights how Galileo's technology supports over 151 million accounts and how their products help banks and FinTech companies offer better services.
They also discuss the impact of AI and machine learning in finance, particularly in personalization and fraud prevention. Scott mentions Galileo's AI chatbot, Connecta, and their payment risk platform, which helps reduce fraud and save costs for their clients.
Another key topic is the importance of long-term partnerships and a consultative approach in FinTech. Scott emphasizes how Galileo supports its clients to navigate challenges and achieve sustainable growth.
Finally, they touch on the acquisition of Galileo by SoFi and how it has opened new opportunities for the company. Scott shares insights on international expansion, especially the unique challenges and considerations when entering new markets like Latin America.
This episode is packed with valuable insights for anyone interested in the future of FinTech, the role of AI, and the importance of modern banking technology. Whether you're a FinTech enthusiast or just curious about how technology is changing finance, this conversation with Scott Johnson offers a lot to learn.
Key Highlights
The Secret to Galileo's Success: Early Challenges and Big Wins
Discover how a tiny office with just four server racks faced a major water leak during a critical MasterCard tour and how quick thinking turned a potential disaster into a memorable moment in Galileo's early days.
APIs: The Game-Changer for FinTech

Learn about the bold decision to publish APIs over a decade ago, a move that attracted a range of companies with unique use cases, helping shape the future of FinTech.
Navigating the 2008 Financial Crisis

Find out how Galileo managed to survive the 2008 financial crisis by betting on long-term partnerships and supporting companies with great product offerings, even delaying invoicing to keep them afloat.
Expanding into Latin America: Key Considerations

Understand the strategic move to expand into Latin America, the challenges faced, and the economic viability of entering different markets with tailored financial solutions.
Personalized Finance: AI and Machine Learning at Work

Explore how AI and machine learning are used to deliver highly personalized financial experiences, from chatbots sensing frustration to advanced payment risk platforms reducing fraud.
The Power of Modern Banking Cores

See why modernizing banking cores is crucial for offering innovative products and services, and how legacy systems are holding back financial institutions from competing effectively.
Boots on the Ground: Successful International Expansion

Learn why having employees in local markets is essential for successful international expansion and how Galileo ensures they are truly committed to new regions.
Unique Financial Products: Buy Now, Pay Later...

In this episode of Accrued, a Fintech Confidential series presented by LoanPro. Host Tedd Huff and Co-Host Nate Bray sit down with Anthony Peculic, Head of Cards and BaaS at Cross River Bank, to discuss the shifting dynamics of the Fintech world. They chat about the hurdles and prospects current banks face, along with the future of financial services that are integrated directly into everyday tools and applications. This discussion also covers how laws and regulations affect fintech companies and the importance of banks working closely with them to ensure regulatory standards are met.
The trio goes into detail about how banks are adapting to changes in interest rates and customer habits, underlining the need for banks to collaborate rather than just sell services. They also talk about Cross River's unique operating system (COS), designed to tackle these challenges and offer creative solutions that make handling finance easier for businesses and consumers alike.
Throughout the conversation, the importance of data and artificial intelligence is emphasized, showcasing how these tools help tailor financial solutions to individual needs, making them more useful and effective. The episode wraps up with insights on how financial institutions are increasingly relying on technology to stay relevant and helpful to their customers.
By the end, viewers will gain a deeper understanding of how finance is becoming more integrated with technology and what this means for the future of banking and customer interactions. This is a must-watch for anyone interested in the development of banking and finance management technology.
Key Highlights:
How regulations are shaping the finance sector and what that means for the future.The significant role open communication plays in adapting to new rules.Why understanding changes in interest rates is essential for managing financial strategies.The evolving role of banks from mere service providers to active partners in financial innovation.The critical impact of technology on improving banking services and customer interactions.How banks are shifting strategies to better support and understand consumer needs.The benefits of incorporating artificial intelligence to customize financial experiences.The flexibility of new banking systems that allow for more robust support and integration.The growing importance of data in crafting personalized banking solutions.Predictions on how the interaction between brands and financial services will continue to evolve, creating a more connected experience.
Top Five Takeaways:
1️⃣ Regulations Unveiled: Stay Ahead of the Game!
Anyone in the finance sector must stay informed about regulatory changes. Understanding these changes can help you adapt your strategies to remain compliant and effective.
2️⃣ Open Doors with Regulators: Communication is Key!
Keeping an open line of communication with regulators can significantly ease navigating new financial landscapes. This proactive approach helps ensure that your operations align with current laws.
3️⃣ Tech in Finance: The New Frontier!
Recognizing the importance of technological advancements in banking can give you a competitive edge. Technologies that enhance customer interaction and streamline operations are key to future success.
4️⃣ Master Your Data: AI is Your New Best Friend!
Investing in data analysis and artificial intelligence can lead to more tailored financial products and services. These technologies help understand and predict customer behaviors, improving service delivery.
5️⃣ Tech-Savvy Banking: Embrace the Future Now!
Embracing the shift towards technology-driven finance solutions is crucial. As technology becomes more integrated into everyday finance, understanding and utilizing these...

In this episode of "Accrued," brought to you by LoanPro, hosts Tedd Huff and Colton Pond chat with Joyce Mehlman from ILX Consulting Group. Joyce shares her expertise in the financial services industry, focusing on the significant role that data and artificial intelligence play in finance today. She touches on the critical need for fintech companies to comply with existing regulations to succeed and the benefits of forming the right partnerships.
Joyce discusses the importance of selecting partners that offer flexibility and foster creativity rather than those who might hinder innovation. She explains that working with the right people can make or break a company's progress in the finance sector. The episode also covers the current trends in the lending and credit industries, such as the rise of specialized credit programs tailored to individual needs and the growing importance of personalizing financial services to better meet customer demands.
Moreover, Joyce emphasizes how essential it is for fintech startups to focus on securing funding and enhancing their marketing strategies, while relying on established tools and services for other business aspects. This helps in streamlining operations and cutting down on unnecessary expenses.
The discussion also highlights the increasing influence of real-time payment systems and open banking, which are setting new standards in the financial world. Joyce wraps up the conversation by stressing the need for continuous education and the integration of supportive partnerships to innovate and improve credit offerings effectively. This episode is a must-watch for anyone interested in the future of banking and finance.
Key Highlights: 
"Watch Joyce Mehlman Reveal Fintech Secrets!"
Joyce Mehlman shares how fintech companies can thrive by using current tools rather than creating new ones, saving both time and money.
"The Real Story Behind Bank and Fintech Partnerships"
Discover how collaborations between banks and fintech companies are crucial for success, and what makes a partnership effective.
"Do You Know the Risks of Choosing the Wrong Tech Partner?"
Joyce discusses the risks of selecting tech partners that might stifle creativity and how the right ones can fuel success.
"Essential Advice for Fintech Startups!"
Key strategies for fintech startups on focusing their resources effectively to ensure growth and sustainability.
"Trends Shaping the Credit Industry Right Now!"
Explore the rise of niche credit programs and why personalizing these programs to customer needs is becoming more important.
"Joyce Mehlman Breaks Down AI’s Role in Fintech!"
Find out how artificial intelligence is currently used in the financial sector and its growing impact.
"How to Succeed in Fintech by Understanding Regulations"
Joyce emphasizes the importance of staying compliant with financial regulations and how it helps in fintech success.
"Secrets to Raising Capital and Marketing in Fintech"
Expert tips from Joyce Mehlman on how fintech companies can boost their capital and improve their marketing tactics.
"Future of Payments: Real-Time Transactions Explained!"
Joyce explains how real-time payment systems are changing the way businesses and customers interact.
"The Future of Financial Programs: What You Need to Know!"
Insights into the development of innovative financial programs and the importance of integrating educational and partnership resources.
Takeaways:
1️⃣ "Why Your Fintech Needs Compliance to Thrive!"
Compliance isn't just a hurdle; it's a necessity. Joyce Mehlman explains how following regulations can actually help fintechs grow and avoid legal troubles.
2️⃣ "Fintech Partnerships: The Good, The Bad, The Ugly!"
Find out what qualities make a great tech partner and which red flags could spell trouble for your fintech's...

In this episode of FinTech Confidentials, host Tedd Huff talks with Shai Stern, CEO of CheckAlt, about enhancing the efficiency of payment processing. Shai shares insights from his background in financial services and explores CheckAlt's strategies for improving the handling and processing of checks in a digital age. They tackle misconceptions about the obsolescence of checks and introduce CheckAlt’s initiatives to keep payments digital when possible, reducing the need for physical checks.
 Shai Stern, CEO of CheckAlt, shares insights on enhancing payment processing efficiency by improving the handling of checks and integrating new technologies. He highlights the importance of automation for smoother customer transactions and the company's initiatives to keep payments digital, thereby reducing the need for physical checks. Stern also offers advice to fintech entrepreneurs, emphasizing the importance of support from loved ones and staying open to feedback for continuous improvement, underscoring CheckAlt’s role in advancing the future of payments.
Key HighlightsShai Stern Spills the Beans: The Truth About Checks!
Discover what Shai Stern has to say about the common myth that checks are a thing of the past. Learn how billions are still used and why they remain important in today’s payment world.
Unlocking the Secrets to Faster Payment Processing!
Hear directly from Shai as he explains how CheckAlt has made paying with checks faster and easier than ever before without sacrificing security or efficiency.
The Catch Solution: A Game-Changer for Online Payments!
Find out how CheckAlt’s Catch solution is keeping more payments digital and reducing the need for paper checks, making transactions smoother for everyone involved.
How Automation is Changing the Game in Payment Processing!
Shai discusses the pivotal role of automation in payment processing, improving accuracy and customer satisfaction.
Shai’s Top Advice for Fintech Entrepreneurs!
Gain insights from Shai Stern’s experiences and learn his top advice for upcoming entrepreneurs in the fintech space.
CheckAlt’s Strategy for Staying Ahead in the Payment Industry!
Explore CheckAlt’s strategies for adapting to changes in the payment industry and how they plan to continue leading the market.
Building a Winning Team: Shai Stern’s Approach to Leadership!
Learn about the qualities Shai Stern values in his team and how a strong collaborative spirit has propelled CheckAlt to success.
Why Checks Are Here to Stay!
Shai Stern breaks down the reasons why checks are still a vital part of the financial ecosystem and how CheckAlt is working to enhance their use.
Big Plans Ahead: CheckAlt’s Future in Fintech!
Shai shares exciting future plans for CheckAlt, including further development of their payment technologies and solutions.
Success Against the Odds: CheckAlt’s Story of Perseverance!
Get inspired by how CheckAlt has flourished despite tough competition, proving that strategic focus and dedication can lead to impressive results in fintech.
Takeaways 1️⃣ "Are Checks Really Outdated? Shai Stern Reveals All!"
Contrary to popular belief, Shai Stern explains why checks are still a crucial part of today's financial transactions and debunks myths about their demise.
2️⃣ "CheckAlt's Secret Weapon: The Catch Solution Explained!"
Learn about CheckAlt's Catch solution, which aims to minimize the use of paper checks by keeping bill payments online,...

In this episode of Fintech Confidential, host Tedd Huff and guest Kevin Olson, the Payments Professor, discuss fast payment systems like FedNow and RTP (Real-Time Payments). They cover how these systems are useful for immediate needs, such as paying bills quickly when time is critical.
The discussion highlights how faster payments can make everyday financial activities easier and more secure for both consumers and businesses. Kevin points out that these systems are not just for emergencies; they also help businesses handle money more efficiently during regular operations.
They also address common misunderstandings, such as the misconception that FedNow acts as a digital currency, which it does not. Instead, it's a system designed to speed up transactions securely and reliably.
Lastly, the talk turns to the importance of understanding new payment technologies. Kevin emphasizes that proper knowledge and use of these technologies are crucial in preventing fraud and ensuring everyone benefits from the advancements in payment systems. This episode offers clear insights into how new payment methods are improving how we manage money, focusing on accessibility and security.
Key Highlights"Are Your Payments Up to Speed? Find Out Why It Matters!"Tedd and Kevin explain why quick payments are crucial, especially for urgent bills like rent and utilities, ensuring you don't fall behind in today's fast-paced world."Busting Myths: FedNow is NOT a Digital Currency!"Kevin clears up a common confusion about FedNow, emphasizing that it is a system for speedy transactions, not a new type of money."How Quick Payments Empower Small Businesses"Discover how technologies like RTP help small businesses manage their finances better by providing faster access to funds, which is essential for their growth."The Hidden Costs of Sticking to Old Payment Methods"Kevin discusses how older payment methods might be holding back efficiency, encouraging listeners to consider modern solutions that match today's speed of business."What Everyone Gets Wrong About Payment Speed and Fraud"Debunking myths, Kevin explains why faster payments don't necessarily mean increased fraud, pointing out the real factors that contribute to security risks."Can Fast Payments Save You Money?"Explore how using faster payment methods can reduce costs associated with late payments and inefficiencies in traditional banking."From Checks to Real-Time: How Payment Methods Have Evolved"Kevin gives a brief history of how payment methods have transitioned from checks to real-time systems, highlighting the benefits of staying current."Why Education is Key in the Payment Industry"They discuss the importance of understanding new payment technologies, not just for businesses but also for consumers to fully benefit from them."Do Faster Payments Mean Less Waiting for Everyone?"Learn about the community benefits of adopting new payment technologies, which promise less waiting time and more reliability."Cut Through the Jargon: Making Payments Understandable"Kevin talks about his role in simplifying complex payment terms and technologies, making them accessible to everyone without the technical speak.
Takeways 1️⃣ Exposed! FedNow Isn't What You Think!
Clearing up misconceptions, Kevin explains that FedNow is not a digital currency but a system designed to make payments faster.
2️⃣ Unlock the Secret: Why Faster Doesn't Mean Riskier!"
Kevin debunks the myth that quicker payment systems increase fraud, emphasizing that the real issue lies in understanding and utilizing the technology correctly.
3️⃣ Stop Overpaying with Slow Payments – Here’s How!"
Learn how adopting faster payment methods like RTP can...

In this episode, Tedd Huff and Colton Pond interview Joe Heck, the CEO of Happy Money. Happy Money focuses on personal lending and debt consolidation, aiming to help borrowers achieve their financial goals. They use personal loans to improve their financial situations. Joe shares insights on Happy Money's mission and their unique approach to lending, focusing on cash flow underwriting and differentiation in the market.
Joe also discusses the importance of alternative data and the impact of credit unions as strategic partners. Happy Money partners with credit unions to deliver a member-centric experience, emphasizing the shift from transactional lending to building relationships with consumers. He highlights the role of technology in providing personalized experiences and the need for business agility.
Joe shares his vision for the future of financing, including the potential of AI. He concludes by emphasizing the importance of optimizing infrastructure and focusing on the consumer to achieve Happy Money's mission of designing a happier way of lending..
Five essential items you will take away.
1️⃣ Empowering Borrowers: Happy Money is dedicated to turning borrowers into savers by consolidating credit card debt into lower interest rate personal loans.
2️⃣ Partnerships with Credit Unions: The company's strategic partnerships with credit unions provide a competitive edge and align the interests of consumers and financial institutions.
3️⃣ Importance of Technology: Investing in technology and personalized experiences is crucial for delivering a member-centric experience in the lending industry.
4️⃣ Future of Financing: Joe Heck discusses the potential of leveraging AI to personalize and simplify the customer experience in the future of financing.
5️⃣ Optimizing Infrastructure: The importance of optimizing infrastructure to focus on customer-centric solutions and improve the overall lending experience.
Key Highlights:Happy Money's Mission: Focus on helping borrowers become savers through personal lending and debt consolidation.Insights from the CEO of Happy Money, Joe Heck: Company's journey and approach to lending.Innovative Lending Approach: Utilizing cash flow underwriting and alternative data to personalize lending decisions.Partnerships with Credit Unions: Strategic alliances with credit unions to offer a member-centric experience and expand network partnerships.Empowering Borrowers: Transitioning from transactional lending to building ongoing relationships with borrowers.Investment in Technology: Leveraging technology to drive personalized experiences and improve financial well-being.Future of Financing: Exploring the potential of AI in personalizing and simplifying the customer experience.Optimizing Infrastructure: Emphasizing the importance of infrastructure optimization for customer-centric solutions.Empowerment and Financial Education: Highlighting the role of Happy Money in empowering consumers with knowledge and tools for better financial decisions.Member Success Stories: Discussing the impact of Happy Money's approach on the lives of over 300,000 members and their journey to financial freedom.
Watch on YoutubeLinks:Happy Money
Website: https://happymoney.com/
Linkedin: https://www.linkedin.com/company/happy-money/
Fintech Confidential
YouTube: https://fintechconfidential.com/watch
Podcast: https://fintechconfidential.com/listen...