AFC Series: Open Finance Showdown: Suits, Countersuits, and the Future of Financial Data

The MoneyPot

#Tech #Business #Rachel Morrissey #Roland Bodenham #News #Tech News #Rachel Morrissey, Roland Bodenham #Financial Services

28:16

Gene Baur is the founder of Farm Sanctuary, a place of rescue, refuge, and adoption for hundreds of farm animals each year. Farm Sanctuary shelters enable visitors to connect with farm animals as emotional, intelligent individuals. Gene has also led campaigns to change laws about animal treatment and taken undercover photographs of farms, stockyards, and slaughterhouses, documenting deplorable conditions. His pictures and videos exposing factory farming cruelties have aired nationally and internationally, educating millions about the plight of modern farm animals, and his rescue work inspired an international farm sanctuary movement. Once called “the conscience of the food movement” by Time magazine, Gene walks the walk and talks the talk when it comes to food and animal rights. Jay and Gene discuss the political and cultural steps that will bring about the end of factory farming and a healthier approach to animals and food. Today's episode was produced by Tani Levitt and Mijon Zulu. To check out more episodes or to learn more about the show, you can visit our website Allaboutchangepodcast.com. If you like our show, spread the word, tell a friend or family member, or leave us a review on your favorite podcasting app. We really appreciate it. All About Change is produced by the Ruderman Family Foundation. Episode Chapters 0:00 Intro 1:05 The state of veganism 6:18 Cultural shifts around factory farming and veganism 14:58 Gene’s three paths of activism 17:44 Gene’s legislative successes 22:25 Accepting people where they are in their journeys 25:36 Thank you and goodbye For video episodes, watch on www.youtube.com/@therudermanfamilyfoundation Stay in touch: X: @JayRuderman | @RudermanFdn LinkedIn: Jay Ruderman | Ruderman Family Foundation Instagram: All About Change Podcast | Ruderman Family Foundation To learn more about the podcast, visit https://allaboutchangepodcast.com/ Looking for more insights into the world of activism? Be sure to check out Jay’s brand new book, Find Your Fight , in which Jay teaches the next generation of activists and advocates how to step up and bring about lasting change. You can find Find Your Fight wherever you buy your books, and you can learn more about it at ⁠⁠⁠⁠⁠www.jayruderman.com⁠⁠⁠⁠⁠ .…

about a year ago 33:43

MP3•Episode home

Open Banking has become one of the most significant regulatory challenges of the last decade, with global implications for both financial services and consumers. As financial institutions and consumers navigate the evolving landscape of data sharing, the U.S. has recently introduced new regulations that may reshape the future of financial innovation. In this episode, we explore the launch of the Consumer Financial Protection Bureau's Final Rule for Open Banking, its mixed reception, and the lawsuits that followed its finalization.

Hosts: Rachel Morrissey, Money20/20 US

Phil Goldfeder, CEO, American Fintech Council

Guest: Alexandra Barrage, Partner, Troutman Pepper Locke

Chapters

1. AFC Series: Open Finance Showdown: Suits, Countersuits, and the Future of Financial Data (00:00:00)

2. Welcome to The Money Pod (00:00:05)

3. Understanding Open Finance vs Open Banking (00:02:41)

4. Global Perspective on Banking Frameworks (00:05:20)

5. CFPB Rule 1033 and Industry Response (00:08:23)

6. Liability Issues and Bank Concerns (00:14:27)

7. Political Impact on Open Finance (00:19:39)

8. The Future of Financial Regulation (00:28:31)

158 episodes

The MoneyPot

AFC Series: Open Finance Showdown: Suits, Countersuits, and the Future of Financial Data

The MoneyPot

published about a year ago

MP3•Episode home

Hosts: Rachel Morrissey, Money20/20 US

Phil Goldfeder, CEO, American Fintech Council

Guest: Alexandra Barrage, Partner, Troutman Pepper Locke

Chapters

1. AFC Series: Open Finance Showdown: Suits, Countersuits, and the Future of Financial Data (00:00:00)

2. Welcome to The Money Pod (00:00:05)

3. Understanding Open Finance vs Open Banking (00:02:41)

4. Global Perspective on Banking Frameworks (00:05:20)

5. CFPB Rule 1033 and Industry Response (00:08:23)

6. Liability Issues and Bank Concerns (00:14:27)

7. Political Impact on Open Finance (00:19:39)

8. The Future of Financial Regulation (00:28:31)

158 episodes

#Tech #Business #Rachel Morrissey #Roland Bodenham #News #Tech News #Rachel Morrissey, Roland Bodenham #Financial Services

All episodes

1
The MoneyPot Live: Unlocking Value: How Data Powers the Next Wave of Platform Growth 25:00

29 days ago25:00

25:00

On the latest episode of The MoneyPot Live at Money20/20 Asia, host Rachel Morrissey sits down with Hans Patuwo, Chief Operating Officer of GoTo Group, the largest digital ecosystem in Indonesia. Discover how GoTo's integrated ecosystem approach drives growth in one of the world's most dynamic digital economies. Hans reveals the fascinating journey of GoTo Financial, and how the company leverages proprietary ecosystem data to provide financial services to Indonesia's 97 million unbanked citizens. Learn about GoTo's innovative approach to customer acquisition, monetization, and retention in a diverse market spanning 17,000 islands with unique subcultures. Key topics include: The evolution of GoTo Group from mobility services to a broader ecosystem that includes fintech solutions How COVID-19 accelerated digital payments and reshaped business priorities Strategies for serving unbanked populations with limited credit access Data-driven approaches to sustainable lending in emerging markets The challenges of designing financial products for diverse user segments Whether you're interested in fintech innovation, emerging markets, or platform economics, this episode offers valuable insights into how data and local expertise are transforming financial inclusion in Southeast Asia. Follow us on LinkedIn…

1
AFC Series: CFPB in Turmoil? The Battle for Consumer Protection 40:21

18 weeks ago40:21

40:21

The CFPB is at a crossroads. With leadership changes and a shifting political climate, what’s next for consumer protection? We break down the agency’s bold moves on open banking, BNPL, and EWA—and what the future holds as new leadership takes the reins. Tune in for a look at the future of financial rulemaking and the impact on consumers. Hosts: Rachel Morrissey, Head of Content, Money20/20 US Ian P. Moloney, SVP, Head of Policy and Regulatory Affairs, American Fintech Council Guest: Ashwin Vasan, Partner, FS Vector Follow us on LinkedIn…

1
AFC Series: Avoiding the Next Synapse: Lessons in Risk, Regulation, and Responsibility 37:49

18 weeks ago37:49

37:49

The collapse of Synapse shook the fintech world. A year later, have banks, fintechs, and regulators done enough to prevent another disaster? In this episode, we explore the crucial steps to ensure stability—shared responsibility, smarter due diligence, and evolving regulations. Tune in to learn how the industry can avoid repeating history and build a safer, more resilient financial ecosystem. Host: Rachel Morrissey, Money20/20 US Phil Goldfeder, CEO, American Fintech Council Guest: Peter Hazlehurst, CEO, Synctera Investors for Synctera include: Lightspeed, Fin Capital, Diagram, SciFi, NA Ventures Follow us on LinkedIn…

1
AFC Series: Open Finance Showdown: Suits, Countersuits, and the Future of Financial Data 33:43

18 weeks ago33:43

33:43

1
AFC SERIES: True Lender Debate: Navigating Fintech & Regulation 25:05

18 weeks ago25:05

25:05

The disapproval of the OCC’s True Lender Rule in 2021 sparked a seismic shift in the fintech lending space, leaving a cloud of uncertainty over the regulatory landscape. As states roll out new true lender definitions and federal guidance remains elusive, the future of bank-fintech partnerships hangs in the balance. In this episode, we dive deep into the disruptive changes reshaping the industry, explore the potential impact of the new administration’s regulatory agenda, and debate what it will take to balance innovation with consumer protection. Tune in for a forward-looking discussion on what’s next for fintech lending in a rapidly evolving regulatory environment. Hosts: Rachel Morrissey, Money20/20 US Ian P. Moloney, SVP, Head of Policy and Regulatory Affairs Guest: Martha O’Malley, Assistant General Counsel, Prosper Follow us on LinkedIn…

1
AI, Relationships, and Small Business Lending 25:33

24 weeks ago25:33

25:33

Dive into the intricacies of artificial intelligence in the small business lending space in this thought-provoking episode. At the bustling Money 2020 conference in Las Vegas, we engage with Omri Yacubovich, CEO of Llama AI, as we address the pressing concerns surrounding traditional lending processes and how AI could reshape the future. With small businesses representing over 55% of the American economy, access to tailored lending solutions becomes a crucial topic of discussion. As we explore the tension between AI-driven personalization and the potential for privacy invasion, personal anecdotes highlight the real-world implications of data misuse in the financial sector. We unpack the challenges faced by community banks as they strive to maintain personal relationships with clients while also adopting advanced technology. This episode illuminates how AI offers a more proactive approach to lending, allowing banks to anticipate the needs of small businesses while fostering trust and transparency. Join us to listen to expert insights on how the future of finance can strike a balance between efficiency and empathy, and what this means for lenders and borrowers alike. Don't miss this opportunity to engage with transformative ideas about the intersection of technology and personalized service. Subscribe, share, and leave a review to join the conversation! Follow us on LinkedIn…

1
The MoneyPot Live: Bridging Markets - The Future of Financial Services 26:52

30 weeks ago26:52

26:52

Paid Content In this episode, we speak with Ray Chalub, Chief Operations Officer of Inter & Co, to take you on a journey from the bustling streets of Brazil to the financial corridors of the United States, as we explore how they are pioneering a new financial paradigm. Discover how this innovative fintech is transforming its business model to bridge the gap between emerging market scalability and the complex demands of the U.S. market. Our speakers share their insights on how remittances are unlocking the potential of Inter&Co’s financial super app, paving the way for a multi-vertical ecosystem that caters to diverse consumer needs. We delve into the strategic moves that have positioned Inter&Co as a trailblazer in the global fintech landscape, offering a glimpse into the future of financial services. Whether you're curious about the dynamics of cross-border financial operations or the evolution of super apps, this episode is packed with valuable takeaways for anyone interested in the future of money. Follow us on LinkedIn…

1
The MoneyPot Live: A Question of Identity 21:11

37 weeks ago21:11

21:11

How do financial institutions combat the ever-evolving threat of identity fraud? In this episode, Naureen Ali, the US Head of Fraud at TransUnion, sheds light on this critical issue, underscoring that while 69% of institutions express concern, all are indeed affected. We analyze the rapid advancements in technology that have accelerated the speed, scale, and sophistication of fraud. Why might some organizations not voice their concerns? Noreen suggests it could be robust mitigation strategies or perhaps a concerning lack of awareness. The discussion navigates the complexities of fraud management in today’s digital age and the necessity of proactive strategies. We also spotlight the human side of fraud, exploring schemes like romance scams that prey on vulnerabilities. Financial institutions play a pivotal role in protecting their customers, and we dive into the concept of "responsible friction." This involves implementing layered defenses, much like the Swiss cheese model, where each layer helps shield against potential threats. From step-up verification to direct interventions, these proactive measures are essential. Listen in as we stress the importance of consumer education and the vital responsibility of financial institutions in preventing victimization, ensuring a safer financial future for all. Follow us on LinkedIn…

1
Navigating the AI-Driven Surge in Identity Fraud and Deepfakes with Au10tix and Dana Porter 19:49

38 weeks ago19:49

19:49

Identity fraud is evolving at lightning speed, driven by advancements in AI technology. Join us as Dana Porter from Au10tix shares groundbreaking insights from their Global Identity Fraud Report, revealing a dramatic rise in cyber threats and highlighting the alarming use of AI-powered bots in social media. Guided by Ian Horne and Scarlett Sieber, we uncover the nuances between 'slow burn' and 'sudden burst' fraud attacks and how AI is turbocharging these threats. Delving into the rise of deepfakes, we explore the complex challenges this technology poses for identity verification, making it easier for criminals to manipulate identities in real-time and outpace traditional security measures. The conversation doesn’t stop there. We tackle the vital role of regulation and enforcement in fighting back against these persistent threats, especially in the crypto and payments sectors. Dana sheds light on the transformative effect of the 2023 MiCA regulation in Europe, which has succeeded in curtailing fraud in crypto markets by imposing stricter customer onboarding practices. We also explore Interpol's global operations that disrupt organized crime, alongside innovative solutions like decentralized identity and verifiable credentials. For both consumers and businesses, practical strategies to increase security are shared, emphasizing the importance of constant vigilance and multi-layered defense systems rather than relying solely on regulatory frameworks. Tune in for invaluable insights into securing your digital identity in a rapidly changing landscape. Follow us on LinkedIn…

1
The MoneyPot Live: The State of Small Business Cash Flow- and How Fintech Can Solve It 24:22

39 weeks ago24:22

24:22

Paid Content Could a mere shift in how you manage finances redefine the success of your small business? Join us on an insightful journey as Cheryl Chen and Ian Horne, explore this possibility with Juliana Berger, the Director of Product Management at Intuit QuickBooks. Live from the energetic Money 2020 USA in Las Vegas, we examine the pressing issue of cash flow challenges that plague small businesses and the innovative solutions being developed in the fintech arena to alleviate these burdens. Juliana shares her wealth of knowledge on how harnessing the power of brands like QuickBooks, Credit Karma, and TurboTax can transform small business financial management from a constant headache into an empowering experience. Discover how Intuit and QuickBooks are addressing the stress and fear associated with cash flow management by harnessing the power of AI and automation. Through engaging stories and personal anecdotes, including my own ventures into soy candles and football businesses, we illustrate the profound impact of automation on reducing administrative burdens and boosting business efficiency. Listen to discussions about innovative QuickBooks features like automatic reconciliation and cash flow planning that are helping businesses not just survive but thrive by significantly lowering failure rates. We dive into the realm of big data and AI, exploring how QuickBooks is pushing the boundaries of traditional finance services with solutions like a $50,000 line of credit that requires no additional documentation. Juliana sheds light on how AI is reshaping productivity and competitiveness, serving as a trusted advisor for businesses in this rapidly evolving landscape. As we wrap up, we envision a future where accounting software not only enhances efficiency but seamlessly integrates with everyday business activities, offering unprecedented convenience and personalization. Tune in to uncover how these cutting-edge innovations are setting the stage for the future of small business accounting. Follow us on LinkedIn…

1
The MoneyPot Live: Raising the Standard of Embedded Financial Solutions 25:46

40 weeks ago25:46

25:46

Paid Content What if you could streamline your financial transactions and cut costs at the same time? Join us as we uncover the transformative power of embedded finance and open banking, broadcasting live from Money 2020 USA in Las Vegas. With the expert insights of Tom Bianco from Fifth Third Bank's Newline and Eric Faust from Trustly, we explore how the seamless integration of payment capabilities into various platforms is reshaping the way we conduct our financial lives. Tom and Eric share the story behind their collaboration, detailing how they are pioneering innovative account-to-account payment solutions that enhance everyday transactions for businesses and consumers alike. In our conversation, we delve into the dynamic between traditional banking and fintech agility, offering a strategic perspective on how NewLine is harnessing both worlds. We highlight how the partnership with Trustly is pushing the boundaries of what's possible in payment capabilities, while also addressing the challenges of adapting to the regulatory landscapes of different global markets. With strategic innovation at the forefront, we discuss how institutions are navigating these changes to ensure both scalability and stability in an evolving environment, emphasizing the importance of understanding core business and regulatory requirements when working with large companies. Finally, we look to the future, examining the implications of rising consumer expectations and the growth of embedded payments. By exploring the potential of open banking as a cost-effective alternative to traditional transactions, we reveal how it enables merchants to reinvest savings into customer engagement. The conversation also touches on the challenges of re-authentication and tokenization, underscoring the necessity of education in this competitive space. With bold insights from Tom and Eric, we encourage creativity and innovation in elevating embedded financial solutions, leaving our listeners with actionable ideas to enhance their fintech offerings. Follow us on LinkedIn…

1
Money20/20 Live: Breaking Barriers in Banking: Amdocs' Approach to Personalized Services at Money20/20 EU 21:35

1 year ago21:35

21:35

What if banks could cater to your entire family's needs with the same precision and care they offer individual clients? This episode of The MoneyPot promises to reveal just that as we bring you an enlightening conversation with Eyal Gilad from Amdocs. Discover how Amdocs, originally rooted in telecommunications, has made a groundbreaking leap into financial services, with a new focus on family banking. Eyal shares the secrets behind their success, including leveraging their cutting-edge charging capabilities to revolutionize customer segmentation and create personalized banking experiences for multi-generational households. You'll learn how these innovative strategies are not only breaking traditional banking barriers but also significantly enhancing customer loyalty. In this packed episode, we also broaden our horizon to explore the latest trends and challenges in the banking industry. We'll delve into financial literacy initiatives and certification processes that different banks are implementing across the globe, from Canada and Europe to the Philippines. Our guest, Eyal, sheds light on exciting projects and the cultural and regulatory hurdles they face. Plus, get an insider's view on how Amdocs is investing in no-code and low-code solutions to empower business departments to swiftly launch new products, bypassing the heavy reliance on IT. We wrap up by discussing the integration of legacy technology with modern solutions to boost efficiency and drive innovation in the banking sector. This is a must-listen episode for anyone interested in the future of family banking and beyond! Follow us on LinkedIn…

1
The MoneyPot LIVE: Combating Fraud Through Cross-Sector Collaboration and Shared Intelligence with GBG 29:05

1 year ago29:05

29:05

In this episode, we dive into the alarming rise of digital identity fraud, which cost the UK finance industry over £1.2 billion in 2022 alone. Our guest, Laura Barrowcliff, Global Head of GBG Trust at GBG, a leading expert in digital identity, shares her insights on how cross-sector collaboration and shared consumer intelligence can transform customer due diligence and help financial organizations fight back against fraudsters. Laura dispels the misconception that data sharing erodes competitive edge or breaches privacy regulations, explaining the difference between sharing data and sharing intelligence. She discusses GBG Trust Network, a unique data network that combines over 100 million data attributes contributed by a consortium of over 550 businesses across 25 sectors and 80 countries, while ensuring complete data privacy. Discover how GBG Trust Network's global intelligence footprint and local expertise enable businesses to securely leverage powerful cross-sector consumer insights to detect fraud, onboard more good customers, and pre-empt crime before it happens. Laura also shares her perspective on getting ahead of regulation and influencing policy through action, setting the pace and creating a framework that works for the industry. Whether you're in the finance industry or any other sector grappling with identity fraud, this episode offers invaluable insights on the power of cross-sector collaboration and shared intelligence in combating this pervasive threat. The MoneyPot is our podcast from Money20/20. Ian Horne & Rachel Morrissey Co-host Follow us on LinkedIn…

1
The MoneyPot LIVE: Resilient Recovery in Fintech: Philippe Morel on Steering Railsr Through Crisis at Money 2020 32:19

1 year ago32:19

32:19

Discover the remarkable story of survival and growth in the ever-evolving world of fintech. In this compelling episode of The Money Pot, we sit down with Philippe Morel, the CEO of Railsr, who shares his firsthand experience of steering the company through turbulent waters. You'll learn how the fintech powerhouse bounced back from the brink of collapse, navigating regulatory pressures and funding challenges, to secure new investment and maintain market confidence. Gain insights into the critical decisions and strategic moves that ensured their survival and set the stage for future expansion. Join hosts Ian Horne and Mickey Tesfaye live from Money 2020 in Amsterdam as they unpack the pivotal moments in Railsr's turnaround. Philippe opens up about the importance of transparent communication within the team and the indispensable role of robust technology in earning and retaining customer trust. With an insider's perspective, the discussion highlights the burgeoning field of B2B embedded finance, providing a behind-the-scenes look at how Railsr managed to maintain strong client relationships despite facing significant internal and external pressures. As we explore the future landscape of fintech, Philippe sheds light on the transformative potential of embedded finance and the revolution it heralds for financial services. He shares strategies for managing cash burn, leveraging customer feedback, and maintaining a balance between bold aspirations and practical financial management. This episode is packed with valuable lessons for fintech professionals and business leaders alike, emphasizing the crucial role of transparency and the power of a resilient, customer-focused approach in navigating the industry's challenges. Tune in for an inspiring conversation that underscores the strength of strategic rebuilding and the importance of staying attuned to market needs. Follow us on LinkedIn…

1
Exploring the Future of Digital Security: Aravind Narayan on Reusable Digital IDs and Blockchain at Money 2020 25:12

1 year ago25:12