35 min
E4 - Dear Third Party Payment Vendor, It’s Not You, It’s Open Banking APIs Fintech Corner
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- Business
Finance pros, ever wondered why corporate banking doesn’t come with all the bells and whistles that you see on the consumer banking side? Venmo and PayPal pioneered peer-to-peer payments, pushing the banks to innovate and create their own products to match, such as Zelle. Unfortunately, the same couldn’t be said for corporates, until now.
Over the past 15 years, the gap between ERPs and banks has widened so much that an entire ecosystem developed around it, making third party payment vendors hugely successful. However, open banking APIs that let you send payments through the banks’ existing payment rails are going to change everything! In this episode of Fintech Corner, JD and Brett discuss how you can now send mass payments programmatically (read - automatically) without third party fees - the way it should be!
Episode highlights:
Corporate and consumer banking live on different planets
What happens when Justin Bieber buys your tshirt and how Facebook pays out creators
The need for programmatic payments technology
Demystifying the massive transformation happening in corporate payments
What’s got third party payment vendors up at night
Brett and JD’s HUGE announcement for all Fintech Corner listeners
Coupon Code: Use FC10 to try Trovata’’s advanced features for 10% of your first year.
Never be out of the loop on what’s going on in finance, tech, and business. Subscribe to our podcast today!
This episode is brought to you by Trovata.io.
Trovata.io empowers everyone to analyze, report, forecast, move – manage cash like a pro – no matter who your business banks with. Save time, ensure data accuracy, and drive smarter decisions with access to your data across multiple banks and accounts - it’s free to get started. Learn more about Trovata at https://bit.ly/3JXHbcC.
Connect with our hosts:
Joseph “JD” Drambarean
Brett Turner
About Joseph “JD” Drambarean
Joseph Drambarean is the Chief Product Officer as well as CTO at Trovata. Joseph is one of the founding members of the company and the first engineer. Before Trovata he worked with companies like Capital One where he was at the forefront of digital transformation, leading product management as head of the innovation labs and mobile banking teams. Joseph is driving innovation around rapid deployment and customer onboarding, bank-grade security, and machine learning at Trovata, creating a more consumerized user experience for customers from small businesses to enterprises.
Connect with JD on Linkedin: https://www.linkedin.com/in/jdrambarean
About Brett Turner:
After starting his career as a CPA with the Deloitte audit practice, Brett gained progressive experience in corporate finance and accounting managing SEC reporting for Amazon and then becoming VP of Finance for Worldwide Packets (sold for $300M+ in 2008). Across his last three roles as a startup Co-Founder / CFO, Brett has raised over $100M in equity and venture debt financing while helping create over $500M in shareholder value. Today, he is the founder and CEO of the cash management platform, Trovata. Brett is a Seattle native, with a BA in Finance from Seattle Pacific University.
Connect with Brett on Linkedin: https://www.linkedin.com/in/brett-turner/
Finance pros, ever wondered why corporate banking doesn’t come with all the bells and whistles that you see on the consumer banking side? Venmo and PayPal pioneered peer-to-peer payments, pushing the banks to innovate and create their own products to match, such as Zelle. Unfortunately, the same couldn’t be said for corporates, until now.
Over the past 15 years, the gap between ERPs and banks has widened so much that an entire ecosystem developed around it, making third party payment vendors hugely successful. However, open banking APIs that let you send payments through the banks’ existing payment rails are going to change everything! In this episode of Fintech Corner, JD and Brett discuss how you can now send mass payments programmatically (read - automatically) without third party fees - the way it should be!
Episode highlights:
Corporate and consumer banking live on different planets
What happens when Justin Bieber buys your tshirt and how Facebook pays out creators
The need for programmatic payments technology
Demystifying the massive transformation happening in corporate payments
What’s got third party payment vendors up at night
Brett and JD’s HUGE announcement for all Fintech Corner listeners
Coupon Code: Use FC10 to try Trovata’’s advanced features for 10% of your first year.
Never be out of the loop on what’s going on in finance, tech, and business. Subscribe to our podcast today!
This episode is brought to you by Trovata.io.
Trovata.io empowers everyone to analyze, report, forecast, move – manage cash like a pro – no matter who your business banks with. Save time, ensure data accuracy, and drive smarter decisions with access to your data across multiple banks and accounts - it’s free to get started. Learn more about Trovata at https://bit.ly/3JXHbcC.
Connect with our hosts:
Joseph “JD” Drambarean
Brett Turner
About Joseph “JD” Drambarean
Joseph Drambarean is the Chief Product Officer as well as CTO at Trovata. Joseph is one of the founding members of the company and the first engineer. Before Trovata he worked with companies like Capital One where he was at the forefront of digital transformation, leading product management as head of the innovation labs and mobile banking teams. Joseph is driving innovation around rapid deployment and customer onboarding, bank-grade security, and machine learning at Trovata, creating a more consumerized user experience for customers from small businesses to enterprises.
Connect with JD on Linkedin: https://www.linkedin.com/in/jdrambarean
About Brett Turner:
After starting his career as a CPA with the Deloitte audit practice, Brett gained progressive experience in corporate finance and accounting managing SEC reporting for Amazon and then becoming VP of Finance for Worldwide Packets (sold for $300M+ in 2008). Across his last three roles as a startup Co-Founder / CFO, Brett has raised over $100M in equity and venture debt financing while helping create over $500M in shareholder value. Today, he is the founder and CEO of the cash management platform, Trovata. Brett is a Seattle native, with a BA in Finance from Seattle Pacific University.
Connect with Brett on Linkedin: https://www.linkedin.com/in/brett-turner/
35 min