Episode 450: Neobanks: End of an Era? Not So Fast

In This Episode

In today’s episode of Breaking Banks, host Brett King connects with John Pitts, Policy Lead at Plaid and Shekher Puri, VP Digital Components and Platforms at RBC. They discuss RBC and Plaid’s recent partnership and opportunities for banks and fintechs to collaborate to bring the best of open finance connectivity to consumers, particularly those in Canada — where they just installed a new open banking lead in a country that is cited as one of the first to prioritize open banking regulation around the globe.

Then, Greg Palmer, Finovate host, speaks with Tiffani Montez, Principal Analyst, Banking Lead, Insider Intelligence on keeping customers happy in times of economic uncertainty — finding opportunity in challenging times.

Enjoy the episode!

Techcrunch reports fintech accounted for 21% of all venture capital dollars raised in 2021. When things go up, they also have a Newtonian way of coming down. The same article says that 10% of all layoffs in Q2 came from the fintech sector. Neobanks such as Chime, Nubank, Klarna and Revolut were rocketships that now have pulled IPOs and taken massive valuation haircuts. Does this signal the end of neobanking? Ron Shevlin, Chris Skinner and Jason Henrichs debate what’s next for the neos. In the second half, Amber Buker, former partner at Alloy Labs where she led strategic insights, decided a global economic meltdown was the perfect time to start, wait for it, a neobank. Tune in to hear it isn’t crazy as it sounds. She even convinced Alloy Labs Alchemist fund to invest. That’s both a disclosure and vote of confidence. This week on Breaking Banks – is it the end or the end of an era?

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