Today’s special episode of Breaking Banks comes to you live from Fintech House @SXSW. Listen as guest host Dara Tarkowski, Managing Partner, Actuate Law and host of Breaking Banks’ sister podcast Tech on Reg speaks with Mike Bechtel, Chief Futurist at Deloitte Consulting and David Reiling, Chairman and CEO, Sunrise Banks; Author, Fintech for Good; and host of Provoke.fm‘s NextGen Banker. These are wild times, it helps to have a futurist with a background in anthropology to put things in perspective. Where are the opportunities in evolving technology, what’s hype and nonsense? At times we are so busy wondering if we can do something, that we don’t always think if we should. Intentionality and mindfulness are good things, and mild chaos is where opportunity lies, where niches and new angles can be discovered.
In 2013 there were 2.7 billion unbanked people in the world. Today the number stands at 1.3 billion. Huge strides have been made in the last decade vs. the last hundred years. Listen as Brett King connects with Kosta Peric, Deputy Director, Financial Services for the Poor, Bill and Melinda Gates Foundation in the second half of the show. It’s important for everyone to be part of the economy — an economy that includes everyone benefits everyone. Listen as they discuss global advances in banking and payments, digital public infrastructure, and the importance of mobile wallets and identity. Game changing innovation at work!
For the last show of 2022 we end the year by looking back at how we started it. Brett, Jason, and JP made some 2022 predictions, listen to find out just how clear their crystal balls were.
Spoiler alert: None predicted the crash in crypto prices or bankruptcy filings by some of the biggest platform players, global price spikes, or Twitter being taken private by Elon Musk, but we did get a few things right.
The hosts all agreed on the need for financial institutions to better vet and manage fintech partnerships and the need to have a viable strategy beyond traditional M&A.
Jason saw fintech valuations coming back to earth, a slow down of the fintech funding frenzy, and some early cracks in the foundations of interchange. Brett was looking forward to advances in AI, AR and VR. All were cautiously optimistic on the sufficiency and efficacy of the technical and compliance infrastructure to support the global growth of crypto and defi.
Join us next week for a forecast megamix for 2023 and a celebration…2023 marks 10 years of Breaking Banks!