Payments Innovation Currencycloud

Global trade payments are a little … broken. 
Plenty of fintechs and startups have created better trade payment platforms domestically. Plus, various payment systems have focused on the international P2P transactions. But few fintechs have really tackled the global B2B space. 
That’s exactly why Asnee Fernando founded Shoptaki.
Asnee came on the Payments Innovation podcast to share all about Shoptaki’s capabilities, which streamline global trade payments by using collaborative AI.
 
What we talked about:
B2B transactions are not as simple as using Amazon The global problem with B2B wire transfers & checks How does Shoptaki solve these global trade issues? What about blockchain?  How difficult is it for a business to move to Shoptaki? Collaborative AI Distributed AI Blockchain To reach Asnee:
 Go to Shoptaki’s website Email Asnee at asnee@shoptaki.com. To ensure that you never miss an episode of Payments Innovation, subscribe on Apple Podcasts, or Spotify, or here. 

Fintechs are the future. Banks represent tradition. And in between … is our data.
In this episode, we interviewed Adwait Joshi, Chief Seer (actual title) at DataSeers, a company dedicated to “creating simple solutions to handling complex data.” 
Adwait has used data to solve pain points in healthcare, animal health, and, now, financial services. In this episode, he shared how DataSeers is using data to create win-win-wins for consumers, banks, and fintechs.
What we talked about:
Getting data out of silos How to halt fraud (as it’s happening) Stopping financial loss Better fintech-sponsor bank relationships Fintechs can utilize DataSeers as a plug & play for fraud monitoring You can configure DataSeers for a variety of products  What’s on the horizon for financial services? 1) Smaller community banks are becoming sponsor banks for fintechs 2) Remittance will increase 3) Global banking will increase AML, fraud detection, monitoring, money laundering To ensure that you never miss an episode of Payments Innovation, subscribe on Apple Podcasts, or Spotify, or here.

Open banking actually serves smaller financial institutions, like credit unions and community banks, more than anyone else … they just need to know the value.
That’s why we invited banking experts Ralph Marcuccilli & Kelli Schultz on this episode of the Payments Innovation podcast. They explain the ins and outs of open banking, and what it can mean for smaller financial institutions.
Ralph was a 20-year veteran of the banking industry, and, in 2010, he founded Allied Payment, where Kelli is now the President. She comes from 2 decades of experience in and around the networks surrounding banking platforms.
What we talked about:
Open banking: the answer for smaller financial institutions Open banking can serve businesses Allied’s next product: real-time bank payments Community banks, fintech, and credit unions Why Allied was well-positioned for open banking 1) ‘Allied was born in the cloud’ 2) Allied has an API-driven vision To ensure that you never miss an episode of Payments Innovation, subscribe on Apple Podcasts, or Spotify, or here. 
Until next time!

Why we all love credit cards: they’re speedy, convenient, and transparent.
Why we all dislike credit cards: they’re expensive.
What if you could make a bank account transaction at the speed, convenience, and transparency of a credit card transaction, but without the fees?
That’s the basic premise behind Hamed Arbibi’s newest venture, VoPay.
In this episode, 3-time Founder and CEO, Hamed Arbibi talks about how VoPay is creating a new financial landscape in Canada, enabling rapid bank-to-bank transactions, without overbearing credit card interchange fees.
What we talked about:
Hamed saw the banking industry was ready for real-time payment processing 80% of business transactions go thru banks (& they’re invisible) How VoPay is creating speed & visibility thru bank-to-bank processing  The similarities between EFT in Canada & ACH in the US 1 more differentiator: VoPay’s product is built on customer feedback Real-time bank-to-bank processing Bank account payment transactions To ensure that you never miss an episode of Payments Innovation, subscribe on Apple Podcasts, or Spotify, or here. 
Until next time!

The term “disruption” doesn’t just get thrown around occasionally. “Disruption” gets thrown around incessantly — especially in tech, and, perhaps even more especially in fintech.
Let us introduce perhaps the one founder who is not actually trying to disrupt traditional banking.
Meet Eric Solis, a 3-time fintech founder, former SVP of investments for Merrill Lynch, former VP of Investments for Prudential Securities, a full stack entrepreneur with educational credits in bitcoin, AI, and business from MIT, Oxford, and Stanford.
Eric came on the Payments Innovation podcast to share about his latest creation — MovoCash, and how he’s using it to solve problems for the underbanked, without disrupting traditional banking.
What we talked about:
What is MovoCash Eric says they solve 3 problems traditional banks couldn’t: 1) Guaranteed payment 2) Getting money off the ledger  3) Preventing fraud & creating denominations Eric’s not actually out to disrupt the banks To ensure that you never miss an episode of Payments Innovation, subscribe on Apple Podcasts, or Spotify, or here. 
Until next time!

Across the United States, challenger banks are springing up, such as Chime and Simple. But, within the US, most of these don’t actually have their own charter.
Meet Varo Money — the digital bank that wants to become the first challenger bank to receive its own US charter.
I spoke with Wesley Wright, Varo’s COO, on the Payments Innovation podcast to hear about why pursuing their own charter is so important. Wesley’s response?
Because they want to own the entire customer experience.
What we talked about:
Traditional banks haven’t responded to everyone’s needs Varo focuses on long-term, core banking relationship with customers Varo’s goal: own the customer experience The sponsor bank model versus being a chartered bank What would need to change to become their own charter How does Varo determine which processes to keep in house and which to outsource? Varo’s “customer-centric” approach To ensure that you never miss an episode of Payments Innovation, subscribe on Apple Podcasts, or Spotify, or here. 
Until next time!