Banking Uncovered Episode 13: Transforming fintech, the role of AI and reimagining the future of financial services

For most Americans, their financial institution is the last thing on their minds - they’re too busy navigating pay cheque-to-pay cheque living, rising costs and a housing crisis. What they need from financial service providers isn’t just another product; they need tools that make life simpler, more transparent and fairer. From real-time access to wages to innovative housing solutions like PadSplit, the future of financial services lies in meeting people where they are and empowering them to build better lives. 

In this episode of the Banking Uncovered Podcast, Chloe James, Banking Uncovered Co-host, speaks to Kathryn Petralia, Co-founder of Kabbage and Keep Financial, and one of Forbes’ most powerful women in the world. They discuss trends in banking, the biggest challenges in financial services today, the future of fintech and the broader industry, US consumer sentiment, satisfaction and dissatisfaction, global innovation, the gender pay the gap in financial services, and much more. 

Topics discussed include: 

• The need to make financial services more accessible and less judgmental through data-driven decisions and online platforms 
• How to balance innovation with responsibility, including the challenges of unintended consequences in the machine learning model 
• Americans' focus on day-to-day financial survival amid the cost-of-living crisis and economic instability 
• Innovations in global payments, cross-border banking, and cryptocurrency adoption for consumers and SME’s 
• What we can learn from companies like Revolut that are simplifying financial processes and setting new benchmarks for customer experience 
• Looking ahead to 2025: Kathryn’s vision for addressing financial needs, empowering individuals to save more and strengthening economies through innovative compensation models.