Fintech Insider Podcast by 11:FS

Latest Episodes:

Ep235 – Alipay’s Rita Liu on Consumer Pain Points Driving Global Expansion Apr 07, 2017

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In this episode

Alipay dominates financial news. On FinTech Insider, we joke about creating a jingle for ‘Alipay does a thing.’ What’s really interesting to us about Alipay is the Ant Financial business model of ‘payments as a wedge product’ to drive other financial services. We talk to a lot of banks now that want to become marketplaces, having looked at Alibaba and Alipay as the model to copy. In this episode, Rita Liu, Head of Alipay Europe, Middle East, and Africa, talks to us about Alipay’s growth ambitions and why China is such an exciting region for FinTech and financial services.

“We have been active in the global market for a while, all driven by our consumers’ needs,” Rita says. “Alipay is the most popular online payment option for Chinese buyers. So we have been distributing Alipay as a payment option for ecommerce players outside of China.

“In China, mobile wallet has become an increasingly popular way to pay in the physical world, and that is driving us to do the same in the global market. We follow the Chinese tourists’ footprint in the world, to enable the merchants to be able to offer the same experience that our users can have in China while they travel. So that’s why we have started to develop merchant acceptance in the physical world, to accept Alipay.”

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Ep234 – RegTech Chaos Monkey Apr 05, 2017

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In this episode

RegTech is sexy. No, really, it is! RegTech goes beyond developing new technology to meet regulatory requirements – and it does more than save banks money. It’s about automating manual tasks and upskilling humans so their new work makes them feel valued. It’s about helping customers get better advice and service. It’s about making sure the business doesn’t come crashing down when the person in charge of the spreadsheet moves on.

In this episode of FinTech Insider, we’ve assembled an expert team to explain what RegTech is and how to take advantage of this opportunity – and imperative – to transform your business (you’ll also learn about Jason’s regulation chaos monkey idea ????).

Guests

Nick Cook, Head of Market Intelligence, Data, and Analysis at the Financial Conduct Authority
Michelle Katics, Co-Founder and CEO, PortfolioQuest & BankersLab
Diana Paredes, CEO & Co-founder at Suade Labs
Evgeny Likhoded, Co-Founder and CEO at ClauseMatch

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Ep233 – Article 50: Signing the Divorce Papers Apr 03, 2017

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In this episode

Article 50. Well, we went through with it and signed the divorce papers. Does the triggering of Article 50 put FinTech at risk in the UK? On this episode of FinTech Insider News, you’ll hear a range of opinions, from fear the UK is throwing away its work to lead the globe in FinTech, to optimism that London has the talent and regulatory regime to remain one of the world’s greatest cities. We also talk about BBVA joining Hyperledger; Alibaba and Tencent and the coming FinTech boom; and 11:FS celebrating its first birthday ????????????

As part of this milestone, we’ve officially launched 11:FS Pulse, our competitor insights research platform. We think you’ll love it.

Guests this week

Paul Titterton, Managing Director at Barclays
Kadhim Shubber, Reporter at the Financial Times

News this week

Crowdfund Insider – Lawrence Wintermeyer, CEO of Innovate Finance, says triggering of Article 50 puts FinTech at risk – Link
Parliament – Time to act on ‘unacceptable’ level of UK financial exclusion – Link
Economist – An earthquake in European banking – Link
Gizmodo – 5 reasons why the Home Secretary’s proposed encryption ban is aggressively stupid – Link
BBVA – BBVA joins Hyperledger, the top open-source blockchain community – Link
LinkedIn – Making people a competitive advantage in a digital age – Link
Venture Beat – Payments company Square launches in the U.K., its first European market and fifth globally – Link
Barrons – Alibaba and Tencent and the coming FinTech Boom – Link
Quartz – The world’s most secure coin debuts in the UK – Link

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Ep232 – Loot CEO Ollie Purdue on Creating a New Banking Experience at Age 20 Mar 31, 2017

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In this episode

What were you doing when you were 20 years old? Ollie Purdue was studying law…and founding a company to transform the banking experience. He didn’t want to be a lawyer, or a banker, but he did want to solve a problem facing many students: budgeting and forecasting how much money they’ll have and need every month.

“At the time I was studying, I kept getting really frustrated with my bank account. It was just unable to tell me basic things about money, and that’s, kind of, what a bank’s meant to do, right?” Ollie says. “My bank wouldn’t tell me, when I got paid, how long that money will last. It wouldn’t tell me where I can cut down on my spending, and it wouldn’t tell me if my spending’s normal. So I was in a position where I never really understood my money, and I just didn’t get it, and then I tried budgeting apps and things like that, and they were really clunky…So it became really clear that a bank needed to be much smarter with data, and present that in a better way, and that’s kind of where it started.”

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Ep231 – Singapore FinTech – The Insider Scoop Mar 30, 2017

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In this episode

A lot has been happening in the Singapore FinTech scene recently. The Monetary Authority of Singapore (MAS) is bound to invest more than $225 million Singapore dollars, or $158 million US dollars in FinTech by the end of 2020, and there’s a lot of hope that this can cut out costs from back office systems, and become truly transformational for the market and the region. In this episode, we take a step back, and, with help from FinTech experts in the field, paint a rich picture of what’s happening in Singapore today.

Our guests

Anna Vanessa Haotanto, CEO of The New Savvy; Business Development Director at Tera Capital
Gerben Visser, Co-Founder of Singapore FinTech Consortium
Joe Seunghyun Cho, CEO at LATTICE80; Co-founder and Chairman at Marvelstone Group
Scott Bales, Managing Director at Innovation Labs Asia
Varun Mittal, Associate Director, Asia-Pacific FinTech at EY

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Ep230 – A Proper FinTech Geek Moment Mar 27, 2017

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In this episode

We’re very excited about the launch of Clear Bank, the first clearing bank to be authorized in the UK for nearly 250 years. There’s been a lot of business model innovation at the front end – we’ve seen apps doing more convenient FX, more convenient remittance, we’ve even seen peer-to-peer payments, but nobody’s really attacked the rails.

“This is where I’m super excited to see FinTech go. This is a proper, proper geek moment,” says guest Sarah Kocianski, Senior Research Analyst, FinTech, at Business Insider Intelligence. “There has been a lot of interesting stuff on personal finance management, consumer banks – that’s happened already – but for any kind of change to happen in the wider financial services ecosystem, those back ends have got to be updated. They’ve got to be upgraded. They’ve got to be using Cloud and API. That’s why this story really, really excites me. Because I think now we’ve got that key piece of the infrastructure. We can start to see movement. They’re not just looking to serve FinTechs. They’re going to try and serve the big guys, too. You can speed up your processes. You can innovate more easily if you connect with these guys.”

Our guests

Alexander Ball, Managing Fintech Consultant at ING

News this week

Finextra – Innovate Finance launches ambassador programme – Link
City A.M. – House of Fraser owner Sanpower pulls investment in digital challenger bank Tandem – Link
Bloomberg – Ant Financial said considering higher offer for MoneyGram – Link
Business Insider – French officials are in London again wooing fintech and finance firms to Paris post-Brexit – Link
Forbes – Digital disruption has arrived in FinTech – Link
City A.M. FinTech startup and challenger bank Revolut’s launching an Amazon Prime-style subscription for banking – Link
banking technology – Bank of England teams with Ripple for cross-border payments – Link
Reuters – Goldman building robo-adviser to give investment advice to the masses – Link
Bank Innovation – Watson tools are coming to FinTech developers – Link
ZDNet – Westpac Keyboard launches through Facebook, Twitter – Link
BBC – Mountain man: The bank boss who reached the top aged 33 – Link

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Ep229 – 10x CEO Antony Jenkins on Startup Life and the Future of Banking Mar 24, 2017

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In this episode

Antony Jenkins, former CEO of Barclays, has spent 35 years working in large financial services institutions. He says that it struck him that, although there’s a lot of technology in banks, it doesn’t help much when it comes to improving the customer experience or lowering costs, and it hasn’t improved the reputation of banks within society. He founded 10x to create a new banking experience — one that is more diverse, open, and fair. In this episode, he talks to us about his new company, the future of banking, and the transition from running one of the biggest banks in the world to founding a startup.

“When I left Barclays, I began to look at what was happening, not only in the FinTech scene, but also with the underlying technologies. I became convinced that there was an opportunity to create the beginnings of a very different way of doing banking,” Antony says. “We set up 10x to deliver the capability to do that. It’s basically a full set of capabilities that a bank would need to operate. I like to think of it as providing better functionality than a neobank at lower cost than a big bank, and in a much more transparent way. That’s what we’re building at 10x.”

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Ep228 – Challenger Banks: The Battle Begins Mar 22, 2017

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In this episode

We’ve brought together some of our favourite folks from the world of FinTech challenger banks. In this episode, we talk to Starling, Fidor, and Loot about their business models, who their customers are, and how they’re using technology and data to provide a great customer experience. We also discuss the challenges they’re facing, what agile really means, and what’s coming up for them in 2017. Enjoy the show!

Our guests

Megan Caywood, the Chief Platform Officer at Starling Bank
Sophie Guibaud, the Vice President of European Expansion at Fidor
Ollie Purdue, Founder and CEO at Loot

“We like to spend a lot of time talking with our customers,” Megan says, “not just usability sessions, but chatting with them and understanding how they’re currently using their banking products and where those pain points are. What we hear time and again is that what they’re used to expecting – seamlessness and ease of use from other apps and products – just isn’t what they see from their bank.”

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Ep227 – Tantric Blockchain and Other FinTech Fun Mar 20, 2017

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In this episode

On this episode of FinTech Insider we cover all sorts of intrigue, from money laundering, to tantric blockchain, to narcotics. Of course, we also analyze the latest FinTech headlines so you don’t have to, and interview some of our favourite folks at solarisBank and Penta. Thank you to our guests for another fun episode.

Our guests

Monty Munford, writer for The Economist, BBC, Forbes, and Fast Company, and Founder of Mob76
Megan Caywood, Chief Platform Officer at Starling Bank
Sophie Guibaud, Vice President European Expansion at Fidor

News stories

Forbes – Meet The European banks of the future…you might even like them – Link
Business Insider – German FinTech startup solarisBank raises €26.3 million and lands Deutsche Bank exec as CEO – Link
Pymnts – Penta launches to help SMEs cherry-pick banking services – Link
Mastercard – Prepaid card programmes in France (no link)
Independent – Banks are getting bigger, not smaller. Clearly they learnt nothing from the 2008 financial crisis – Link
FT – Lloyds to transfer 1,900 staff to IBM in IT outsourcing deal – Link
City A.M. – Digital challenger Starling Bank is launching in beta – Link
Quartz – The influence of Uber ratings is about to be felt in the hallways of one of the world’s largest banks – Link

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Ep226 – FCA Policy Director David Geale on the Thought Behind the Regulatory Sandbox Mar 17, 2017

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In this episode

The Financial Conduct Authority’s progressive regulatory policies have been credited with helping to make London one of the world’s finest FinTech centres. In episode 126 of FinTech Insider, we spoke with several participants of the FCA’s regulatory sandbox, created as a ‘safe space’ for startups and companies to test ideas before becoming fully regulated. In this episode, we interview FCA Policy Director David Geale on the thought behind the sandbox, and more. Enjoy the show!

“The sandbox is there for firms who really need to test in a live environment,” David says. “The example I often give is around disclosure. If I actually present something to you and say, ‘This is the current disclosure, here’s a new version, which one of these do you prefer? Which one of these do you understand?’ well, to a degree, that’s cheating. It’s better than nothing in terms of testing, but you’ve cheated, because you’ve got people to read it in the first place, and that’s generally the core challenge, is getting people to engage, getting people to read. So if you can test that in a live environment, and say, ‘Okay, we know what you would have had, now what’s the difference in actual behaviour with this new form,’ or new style, maybe digital disclosure, for example, you can actually really see the impact of the results.”

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