BIG Podcast

Our esteemed panel (Anne Legg of Thrive Strategic Services, John Janclaes of Nymbus CUSO, Glen Sarvady of 154 Advisors) join John Best to opine on the biggest stories impacting credit unions and fintech in 2025- Mergers and Fraudsters and AI, oh my!   Links related to this episode:   THRIVE Strategic Services: https://www.anneleggthrive.com/ Nymbus CUSO: https://www.nymbus.com/cuso/   The language translator earbuds John Janclaes discussed (NOTE: John says this is NOT an endorsement as he has not tested them yet):  https://www.amazon.com/Language-Translator-Real-time-Translation-Bluetooth/dp/B0CFQWQL86/?th=1 CU Today’s coverage of the ransomware attack on Patelco Credit Union: https://www.cutoday.info/Fresh-Today/Number-Of-People-Impacted-By-Patelco-Breach-Tops-1-Million CU Times’ coverage: https://www.cutimes.com/2024/11/05/patelco-loses-39-million-during-last-summers-hack/ The NY Times podcast John Best mentioned re: Chinese hackers and the US phone network: https://www.nytimes.com/2024/12/12/podcasts/th

Glen connects with Payfinia CUSO General Manager Keith Riddle and Star One Credit Union’s EVP of Operations Minal Gupta about the newly minted CUSO aiming to streamline CUs’ provision of instant payment services. Also, newly released FedNow data- plus reporting from the more mature RTP network- reveals some unexpected twists.   Links related to this episode:   Payfinia: https://tyfone.com/payfinia/ (or contact Keith Riddle: keith.riddle@tyfone.com) Star One Credit Union: https://www.starone.org/   FedNow volume statistics through September 2024: https://www.frbservices.org/resources/financial-services/fednow/quarterly-volume-value-stats Glen’s 2023 article featuring Minal Gupta/Star One (as well as other early FedNow Adopters) in Credit Union Magazine: https://media.americascreditunions.org/articles/123351-real-time-relevance   Join us for our final CU Town Hall of 2024- Wednesday December 11 at 3pm ET/Noon PT- for a live and lively interactive conversation tackling the major issues facing CUs today. It’s f

Insightful conversations with three founders whose startups stood out at VentureTech: Joe Gracia of Pitch Competition winner Nickels/CardFit, Blesson Abraham of Aviary AI and Danial Jameel of Saris AI. Also, the Kelce brothers and Joe Montana unexpectedly find their way into the discussion.   Links related to this episode:   CardFit, the new offering from Nickels: https://nickels.us/acquire Saris AI: https://www.saris.ai/ Aviary AI: https://www.helloaviary.ai/ Our previous VentureTech episode, featuring interviews with Ribbon and Wysh: https://www.big-fintech.com/Media?p=good-ideas-good-investments Glen’s blog recapping VentureTech highlights: https://www.big-fintech.com/Media?p=going-deep-hitting-the-gaps-at-venturetech VentureTech: https://myventuretech.com/   Join us for our final CU Town Hall of 2024- Wednesday December 11 at 3pm ET/Noon PT- for a live and lively interactive conversation tackling the major issues facing CUs today. It’s free to attend (credit union employees might even win a door prize!)

Continuing our annual tradition, John and Glen glide through a fintech wonderland with Anne Legg (Thrive Strategic Services) and John Janclaes (Nymbus CUSO), sharing thoughts on things they’re thankful for across our collaborative community- from the expected (AI, the innovative spirit) to the counter-intuitive (fraud levels, fintech funding).      Links related to this episode:   THRIVE Strategic Services: https://www.anneleggthrive.com/ Nymbus CUSO: https://www.nymbus.com/cuso/ BIG’s Innovation Club: https://www.big-fintech.com/Innovation-Club/Technology Open AI’s Sam Altman discusses the prospects for Artificial General Intelligence (AGI) in 2025: https://www.youtube.com/watch?v=xXCBz_8hM9w After our podcast discussion of real time payments, the Fed issued its first data on FedNow volumes: https://www.frbservices.org/resources/financial-services/fednow/quarterly-volume-value-stats   Join us for the next CU Town Hall on Wednesday December 11 at 3pm ET/Noon PT for a live and lively interactive conversation

Freshly back from the VentureTech conference, Glen shares interviews with Launch Party winner Ribbon and main event standout Wysh- plus plenty of key takeaways from investors, regulators, entrepreneurs and their prospective credit union partners.     Links related to this episode:   Ribbon: https://www.trustribbon.com/ Wysh: https://www.wysh.com/ VentureTech: https://myventuretech.com/ Our recent interview with Further/Union Credit: https://www.big-fintech.com/Media?p=digging-further-at-finovatefall Glen’s blog on Money 20/20 key takeaways: https://www.big-fintech.com/Media?p=money-2020-takeaways-gen-ai-open-data-and-a-cloud-of-dust   Join us for the next CU Town Hall on Wednesday November 20 at 3pm ET/Noon PT for a live and lively interactive conversation tackling the major issues facing CUs today. In this session we'll explore likely impacts for credit unions and fintechs from the recent election outcome, including shifts in the regulatory environment. It’s free to attend (credit union employees might eve

Round 2 of our Money 20/20 highlights includes Glen’s interviews with a trio of founders- Andre Vellozo of DrumWave and Brittany Kaiser of the Own Your Data Foundation about a model allowing consumers to control and monetize the data they generate, and Eli Wachs of Footprint about combating fraud by whitelisting the good guys. Also- Bitcoin blows up and Cap One/Discover makes a comeback.    Links related to this episode:   Footprint: https://onefootprint.com/ DrumWave: https://drumwave.com/ Glen’s blog on Money 20/20 key takeaways: Part 1 of our Money 20/20 coverage, including interviews with Paze and Eisen: https://www.big-fintech.com/Media?p=onboarding-and-offboarding-at-money-2020 Part 2 of our Money 20/20 coverage,Gen AI, Open Data and a Cloud of Dust: https://www.big-fintech.com/Media?p=money-2020-takeaways-gen-ai-open-data-and-a-cloud-of-dust McKinsey’s Digital Payments Survey: https://www.mckinsey.com/industries/financial-services/our-insights/banking-matters/state-of-consumer-digital-payments-in-202

Glen’s annual Money20/20 highlights include a detailed update from Paze’s Head of Operations Catherine Murchie, a conversation with Allen Osgood, the founder of featured startup Eisen, and first-person reflections on CFPB Director Rohit Chopra’s unscripted comments regarding the agency’s personal data rights rule.   Links related to this episode:   Paze: https://www.paze.com/ Eisen: https://www.witheisen.com/ Eisen’s FinovateFall demo: https://finovate.com/videos/finovatefall-2024-eisen/ Money 20/20’s own highlights reel: https://us.money2020.com/experience/highlights  Glen’s blog on the CFPB’s Section 1033 final rule: https://www.big-fintech.com/Media?p=the-cfpbs-personal-data-rights-rule-exhale-but-dont-get-comfortable   Our CU Town Halls are taking a brief break during this busy season, but will be back to brighten your Wednesday afternoons soon!  In the meantime, check out our Fraud-a-Palooza session: https://www.big-fintech.com/Media?p=cu-town-hall-episode-124-fraud-a-palooza   Find us on X at @bigfi

Glen speaks with the founders of Starlight and Credit Mountain, two award-winning startups with a goal of smoothing the turbulent patches of consumers’ financial journeys. Also- a first look at the CFPB’s 594-page magnum opus on personal data rights.   Links related to this episode:   Starlight: https://www.get-starlight.com/ Credit Mountain: https://www.creditmountain.co/ Glen’s blog on the CFPB’s personal data rights rule: https://www.big-fintech.com/Media?p=the-cfpbs-personal-data-rights-rule-exhale-but-dont-get-comfortable For masochists only, the CFPB’s full 594-page final rule in all its glory: https://files.consumerfinance.gov/f/documents/cfpb_personal-financial-data-rights-final-rule_2024-10.pdf CU Today’s coverage from the day the final rule was announced: https://www.cutoday.info/site/THE-feature/CFPB-Finalizes-Open-Banking-Rule   Find us on LinkedIn: https://www.linkedin.com/company/best-innovation-group/   https://www.linkedin.com/in/jbfintech/ https://www.linkedin.com/in/glensarvady/

Glen speaks with Jessica Heuer and Carrie Stapp about Velera’s recent Psychology of Payments study and strategies for engaging various segments of card users. Also- Durbin and Putin attempt workarounds, and Fiserv wades into uncharted waters.   Links related to this episode:   Velera’s Psychology of Payments report: https://www.pscu.com/insights/white-papers/the-psychology-of-payments Velera’s website: https://www.velera.com/ The Economist’s story on Russia’s proposed “BRICs Bridge” payment system: https://www.economist.com/international/2024/10/20/putins-plan-to-defeat-the-dollar Payments Dive’s coverage of Fiserv’s special purpose banking charter: https://www.paymentsdive.com/news/fiserv-georgia-special-banking-charter-payments-processing-merchants/728933/ Arnall Golden Gregory’s take on Fiserv’s charter: https://www.agg.com/news-insights/publications/fiservs-georgia-malpb-charter-implications-for-the-payments-industry/ CU Today on the CCCA potentially being tucked into hurricane relief legislation: htt

Glen checks in with Money 20/20 President Tracey Davies for a preview of the upcoming four-day Las Vegas extravaganza. Also- a slew of updates on Illinois’ interchange fiasco, a countdown to the CFPB’s open banking rule, and a desperate attempt to tie 1990s funky divas to 2024 payment headlines.        Links related to this episode:   Money 20/20 USA, October 27-30 in Las Vegas: https://www.money2020.com/ Last week’s CU Town Hall- featuring insights from the Illinois Credit Union League’s Tom Kane- on the Interchange Fee Prohibition Act: https://www.big-fintech.com/Media?p=cu-town-hall-episode-123 Glen’s blog on the IFPA: https://www.big-fintech.com/Media?p=battle-lines-being-drawn-on-illinois-interchange The OCC’s amicus brief to the IFPA: https://bankingjournal.aba.com/wp-content/uploads/2024/10/OCC-Amicus-Brief-IFPA.pdf The OCC’s amicus brief to the IFPA: https://restaurant.org/getmedia/d5f460e3-3cb6-4d77-9e82-2bf4ae3dc972/2024-10-04-Exhibit-A-to-Corrected-Unooposed-Mtn-of-RLC-IRA-RLC.pdf Glen’s Histo

Glen speaks with key players at TruStage Ventures’ Fintech Summit: Discovery Fund Managing Director Elizabeth McCluskey on the state of early stage investing, founder Gwyneth Borden on Remynt’s journey to startup funding, and Maxwell’s co-founder John Paasonen on addressing the housing affordability gap. Also, surprising battle lines forming in the Illinois interchange showdown.      Links related to this episode:   TruStage Ventures: https://www.trustage.com/ventures/portfolio TruStage Discovery Fund: https://www.trustage.com/ventures/discovery-fund Maxwell: https://himaxwell.com/ Remynt: https://getremynt.com/ Glen’s update on the Illinois’ Interchange Fee Prohibition Act: https://www.big-fintech.com/Media?p=a-state-of-confusion-interchange-battles-move-closer-to-home Our 2022 interviews with Money 20/20 America’s Got Access winners Dennis Cail (Zirtue) and Gwyneth Borden (Remynt): https://www.big-fintech.com/Media?p=americas-got-access-vegas-has-crowds   Finovate’s demo archive: https://finovate.com/vide

John and Glen explore the machinations of the Interchange Fee Prohibition Act, the potential impacts that extend well beyond Illinois, and how it could alter prospects for the Capital One/Discover merger. Also- initial thoughts on the DOJ’s antitrust suit against Visa’s debit business, and a gratuitous swipe at Ticketmaster.    Links related to this episode:   Glen’s blog on the Interchange Fee Prohibition Act: https://www.big-fintech.com/Media?p=a-state-of-confusion-interchange-battles-move-closer-to-home Our August interview with the Illinois Credit Union League on the topic: https://www.big-fintech.com/Media?p=ill-communication-on-illinois-interchange The ICUL’s press release explaining the recently filed lawsuit: https://www.icul.com/news/icul-news/bank-and-credit-union-groups-join-forces-to-challenge-new-illinois-law-restricting-interchange-fees/ Thoughts on the Capital One/Discover merger from back in February: https://www.big-fintech.com/Media?p=the-capital-onediscover-deal-a-test-of-typical-battle-

Part 2 of our Finovate recap features interviews with three more standouts- Further, MoneyKit and Telesign- from an impressive batch of demoing companies. Plus- Glen reveals his Best of Show ballot, and serial entrepreneurs extend their winning streaks.   Links related to this episode:   MoneyKit: https://moneykit.com/ Further: https://gofurther.app/ Telesign: https://www.telesign.com/ Telesign’s Trust Index: https://www.telesign.com/continuous-trust-authority/trust-index Last week’s episode featuring interviews with Finovate standouts CardLift and Quavo: https://www.big-fintech.com/Media?p=the-best-things-i-saw-at-finovatefall Our interview with Deidre Campbell on the Edelman Trust Barometer: https://www.big-fintech.com/Media?p=retaining-member-trust-amid-the-decline-of-authority  Glen’s blog on his key takeaways from FinovateFall: FinovateFall: https://informaconnect.com/finovatefall/ Best of Show winners: https://finovate.com/finovatefall-2024-best-of-show-winners-announced/ Replay of our recent CU Tow

Glen speaks with two of his favorite fintechs he saw at the recently completed and highly engaging FinovateFall conference: Best of Show winner CardLift and fraud/dispute management platform Quavo. Also- an overview of the eight Best of Show winners, the inevitable artificial intelligence parade, and a pronounced shift in favor of credit unions.       Links related to this episode:   CardLift: https://withcardlift.com/ Quavo: https://www.quavo.com/ Illuma: https://illuma.cx/ FinovateFall: https://informaconnect.com/finovatefall/ Our recent interview with Finovate’s Greg Palmer: https://www.big-fintech.com/Media?p=big-startup-energy Best of Show winners: https://finovate.com/finovatefall-2024-best-of-show-winners-announced/   Join us for the next CU Town Hall on Wednesday September 18 at 3pm ET/Noon PT for a live and lively interactive conversation tackling the major issues facing CUs today. This session will focus on whether the notion of a Primary Financial Institution is myth or reality. It’s free to atte

Glen speaks with Managing Director Deidre Campbell about the Edelman Trust Barometer and its insights on consumer attitudes, with impact for financial institutions and beyond. We then detour into regenerative farming as Fintech South Innovation Challenge winner Alex Edquist discusses how her startup Good Agriculture empowers small farms. Also- banking’s version of the Tide Pod Challenge?   Links related to this episode:   The Edelman Trust Barometer: https://www.edelmansmithfield.com/2024-edelman-trust-barometer/supplemental-report-insights-financial-services Trust at Work: https://www.edelman.com/trust/2024/trust-barometer/special-report-trust-at-work  Good Agriculture: https://goodagriculture.com/  Fintech South: https://www.fintechsouth.com/ Hypepotamus’ overview of the ten Innovation Challenge participants: https://hypepotamus.com/companies/b2b/meet-the-10-semifinalist-startups-for-the-fintech-south-innovation-challenge/   The Chase ATM TikTok fiasco (a/k/a Check Fraud): https://www.cnn.com/2024/09/03/b

John and Glen riff on the role Bitcoin is suddenly playing in the presidential election, and the thorny issue of how the US government should “manage” its crypto holdings. Also- assessing the prospects beyond the bluster for productive crypto legislation, and the bizarre backstory of HODL.   Links related to this episode:   In his own words, Mark Cuban’s take on Donald Trump’s crypto conversion: https://x.com/mcuban/status/1813591281970348264 The House’s approved crypto bill (the ball’s in your court, Senate): https://www.coindesk.com/policy/2024/05/22/us-house-approves-crypto-fit21-bill-with-wave-of-democratic-support/ Analysis of Bitcoin’s mid-August price decline coinciding with movement of government holdings: https://www.fxempire.com/forecasts/article/bitcoin-price-prediction-btc-down-as-u-s-govt-transfers-btc-worth-600m-1454167 Coindesk’s take on the same: https://www.coindesk.com/markets/2024/08/14/nearly-600m-of-silk-road-bitcoin-hits-coinbase-prime-but-not-necessarily-to-sell/ The history of HODL

The Illinois Credit Union League’s Tom Kane and Ashley Sharp go deep on the turmoil surrounding Illinois’ problematic new interchange law and the steps being taken to course correct. Also- Sam Altman’s Worldcoin moves fast and scans (personal) things, and…Backpedaling as a Service (BaaS)?    Links related to this episode:   Our continuing coverage of Illinois’ Interchange Fee Prohibition Act:  https://www.big-fintech.com/Media?p=a-state-of-confusion-interchange-battles-move-closer-to-home The ICUL’s press release explaining the recently filed lawsuit: https://www.icul.com/news/icul-news/bank-and-credit-union-groups-join-forces-to-challenge-new-illinois-law-restricting-interchange-fees/ The “Guard Your Card” website: https://guardyourcard.com/illinois/ The Chicago Tribune’s editorial opposing the Illinois law: https://www.chicagotribune.com/2024/06/03/editorial-retailers-credit-cards-interchange-pritzker-springfield/ The Wall Street Journal’s front page article on Sam Altman’s Worldcoin/retinal scanning eff

Glen chats with Finovate’s Greg Palmer about the state of fintech investment and startup momentum in anticipation of September’s Finovate NYC event. Also- soft landings, long bike rides, $2.5 billion bets and honest borrowers.   Links related to this episode:   Finovate Fall in NYC September 9-11: https://informaconnect.com/finovatefall/ ***Use code BIG20 for a 20% discount off registration*** TruStage’s Discovery 2024 conference replay: https://trustage.registration.goldcast.io/events/414b601e-9185-426f-9877-6405088473e5 Lamont Black’s bike ride from Maps to Redwood CU: https://www.linkedin.com/posts/lamontblack_ai-outdoors-bikepacking-activity-7228525803385274369-XW5p BNPL’s analog precursor: https://www.marketplace.org/2024/08/12/schulze-family-business-kept-old-things-running-for-82-years/ PYMNTS.com’s interview with NCR Voyix digital banking leadership after its $2.5B sale to private equity: https://www.pymnts.com/news/digital-banking/2024/ncr-voyix-2-5-billion-sale-to-veritas-verifies-digital-bankin

Cybersecurity expert Roger Grimes demystifies the changing ransomware landscape- how much money do criminals usually demand? How often are they paid, and how much? What is “dwell time,” how do ransomware and wiperware differ, and what constitutes offline backup? Also- the first HODL President?   Links related to this episode:   Our full CU Town Hall session with Roger Grimes: https://www.big-fintech.com/Media?p=cu-town-hall-episode-120 Roger’s Ransomware Protection Playbook: https://www.amazon.com/Ransomware-Protection-Playbook-Roger-Grimes/dp/1119849128 KnowBe4: https://www.knowbe4.com/ CU Today’s continuing coverage of the Patelco ransomware incident: https://www.cutoday.info/Fresh-Today/Following-Ransomware-Attack-Patelco-Has-Restored-Many-Services-But-Others-Remain-Unavailable Forbes’ onsite coverage of Bitcoin 2024: https://www.forbes.com/sites/digital-assets/2024/07/31/bitcoin-2024-when-rage-became-the-machine/  Reuters’ comments on Trump’s crypto conversion: https://www.reuters.com/business/finance

Glen speaks with the Atlanta Fed’s Claire Greene about takeaways from the latest Survey of Consumer Payment Choice- including card’s dominance, mobile’s ubiquity, BNPL’s ascent and cash’s resilience. Also, the NY Times offers an unexpected backstop for the paper check.   Links related to this episode:   The Atlanta Fed’s Diary and Survey of Consumer Payment Choice: https://www.atlantafed.org/banking-and-payments/consumer-payments/survey-and-diary-of-consumer-payment-choice/2023-survey-and-diary Federal Reserve Financial Services’ cash-centric analysis of the data: https://www.frbservices.org/binaries/content/assets/crsocms/news/research/2024-diary-of-consumer-payment-choice.pdf NY Times’ story on Why Paper Checks Refuse to Die: https://www.nytimes.com/2024/07/24/business/paper-check-payment-fraud-scam.html TruStage’s Discovery 2024 conference, held virtually Wednesday August 8: https://shorturl.at/1KKK0 Java4Kids: https://javaforkids.org/   Join us for the next CU Town Hall on Wednesday August 7 at 3pm ET/