Breaking Banks
630 episodes - English - Latest episode: 4 days ago - ★★★★★ - 263 ratingsThe #1 global fintech radio show and podcast. Every week we explore the personalities, startups, innovators, and industry players driving disruption in financial services; from Incumbents to unicorns, and from the latest cutting edge technology to the people who are using it to help to create a more innovative, inclusive and healthy financial future.
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Episodes
Will Financial Advisers be replaced by the crowd, and how does technology change the way Gen-Y’s plan investment and saving?
December 05, 2013 08:00 - 57 minutes - 4.51 MBFinancial Advisers emerged in the US in the 1970s, but hit their stride in the 1980s with new professional designations, associations and regulation emerging to create an industry that is just over 300,000 persons strong. The US alone manages more than $13 Trillion in Assets under Management (AuM) in Mutual Funds, and the US Stock Market has close to $20 Trillion in Aum. But investor behavior is changing. The number of financial advisers in the US shrank by almost 2% last year, as more an mor...
The Future is already here, just not widely distributed
November 21, 2013 08:00 - 56 minutes - 4.51 MBApologies to William Gibson from whom this quote is taken, but this week’s Breaking Banks is all about the disruptive future that is coming fast upon the banking sector. This week we speak to two global leaders and futurists who have enlightening views on the forces that are driving change in the consumer front-end of the business, and in the banking ecosystem. From a fundamental shift in what we think of when it comes to “Trust” to the impact of the quantified-self movement on the way we thi...
Disruption Abounds – why books, music and newspapers were just the start!
November 14, 2013 08:00 - 56 minutes - 4.51 MBNot since the printing press has a new media been as disruptive as the internet. Because it is about connection, conversation, and a pure democracy of ideas, it is changing every business model and all ideas about traditional services. The first wave of new media disruption was against old media, but that was only the start. Now financial services is ripe for the disruption wave. Today on Breaking Banks, Brett King talks with fellow futurist and innovator Robert Tercek. (http://www.robe...
Will an app a day keep the financial doc away?
November 07, 2013 08:00 - 57 minutes - 4.51 MBRecently, there are an explosion of apps and tools for personal financial management. With our mobile phones, the access to smart financial data is available at our fingertips, and that raises awareness of our personal financial health. But do these tools replace the need for a financial advisor? Today on Breaking Banks, Brett King hosts Christina Getz, Michele Van Lieu, and Denise Hughes, who are financial advisors who are using mindful philosophies and mobile technology to immunize thei...
FinTech Capital Raising- Learning from the Leaders
October 31, 2013 07:00 - 56 minutes - 4.51 MBAccording to CB Insights, there was more venture and private-equity investment in New York’s Financial Technology (or FinTech) sector in the first half of 2013 than in all of 2012, which was the biggest year on recent record. On a global basis, annual venture investment in the fintech sector has nearly tripled since 2008, with more than $9 billion invested over the last five years. What does it take to raise money if you are an entrepreneur or start-up in this incredibly dynamic space? Who ar...
LIVE FROM GOOGLE!!!!!!!
October 24, 2013 07:00 - 58 minutes - 4.51 MBThis week Breaking Bank$ is going to be streaming live from the New York Google Offices as part of the 2nd Annual NYC Tomorrow's Transactions Today Un-conference. http://www.nypay.org/event/payments-unconference/ The event is hosted by NYPay. Brett will have Dave Birch, Global Ambassador of Consult Hyperion, Peter Hazlehurst, Chief of Google Wallet and other thought leaders on the future of money and mobility on the show to discuss the hot topics of the day and answer questions from list...
Banking 'Perestroika' comes from unexpected quarters in Russia
October 17, 2013 07:00 - 58 minutes - 4.51 MBRussia is one of the biggest emerging economies on the planet, and has one of the largest national banking markets in the world, but innovation comes slowly within the banking sector due to massive technology and process issues. However, in the last few years there has been an explosion of innovation through start-ups, new brands and new technology players that in FinTech that appears second only to Silicon Alley . What has inspired such dynamic change in the Russian banking market? Who are t...
Special Encore Presentation: Digital currency and the bumpy road to legitimacy
October 10, 2013 07:00 - 56 minutes - 4.51 MBBitcoin just keeps making the news. Germany recognized it as a legitimate taxable currency just a month ago, and then the site Silk Road, that trafficked drugs and black market items, and accepted Bitcoin as a currency was shuttered by the FBI. However, with the use of mobile increasing and people's need to move money faster and with less friction, digital currency is the way of the future. But how will consumers be able to trust in the stability and legitimacy of new digital currencies...
Digital currency and the bumpy road to legitimacy
October 03, 2013 07:00 - 56 minutes - 4.51 MBBitcoin just keeps making the news. Germany recognized it as a legitimate taxable currency just a month ago, and then the site Silk Road, that trafficked drugs and black market items, and accepted Bitcoin as a currency was shuttered by the FBI. However, with the use of mobile increasing and people's need to move money faster and with less friction, digital currency is the way of the future. But how will consumers be able to trust in the stability and legitimacy of new digital currencies...
And The Next Big Thing Is????
September 26, 2013 07:00 - 56 minutes - 4.51 MBDigital innovation happens at such lightening speed that in order to stay current you have to try to imagine the future today. In the past sixteen years, the internet has become a new space with its own culture, rules, taboos, and possibilities. This has challenged the traditional way of doing everything, and makes us wonder, WHAT IS The NEXT BIG THING? Today on Breaking Banks, Brett King is speaking with Scott Bales, the global leader on Innovation, Trends, Design and Mobility, and C...
Neither Phish nor fowl...
September 19, 2013 07:00 - 57 minutes - 4.51 MBMobile phones are the most popular way that we access the internet and web services that we rely on every day. In a world where greater mobility and transparency are the norm, there is tremendous risk of security breaches which can interfere with the utility and friendliness of our tablets and smartphones. Viruses can infect the systems, exposing user's sensitive information. This is of special concern to the financial industry, where consumers are demanding mobility, and banks are wonde...
Free or Fee?
September 12, 2013 07:00 - 55 minutes - 4.51 MBWith interest rates remaining low and traditional fee income such as debit card and overdraft fees impacted by recent government regulations, banks and credit unions are increasingly looking for new ways to increase revenue. While banks will look to cost cutting measure, another way to make up for falling fee income may be to have customers pay for services that were previously ‘free’. Unfortunately, continued pressure from consumers and the precedent of online and mobile banking options bein...
Finovating into the future...
September 05, 2013 07:00 - 59 minutes - 4.51 MBBanks have long cultivated the image of stability with marble counters and mahogany desks, indicating a sense of permanence. But in order to do something new, you have to stop doing the old! The new frontiers of banking are in a relatively new area called Fintech. In this world, startups from outside the traditional banking system are creating new ways of meeting people's financial service needs, introducing new concepts in lending, payments, and investment that leave the traditional in th...
When it comes to Data, Size really does matter
August 29, 2013 07:00 - 57 minutes - 4.51 MBAs Steve Jobs famously said Some people say give customers what they want, but that's not my approach. My job is to figure out what they are going to want before they do. With the current disruption and banking options available, it has never been more crucial for banks to build positive personal relationships with their customers. One of the keys of keeping digital and mobile users happy and providing positive and helpful customer experiences is data analytics, which can tell a bank enou...
Can Banks Afford to Keep their Customers?
August 22, 2013 07:00 - 57 minutes - 4.51 MBTypically, banks make their money off the top 20% of customers and lose money on the bottom 20%. Identifying customers that will help maximize their profits has become the mission of most banks, but is it as simple as always finding the right customer? Should banks reject customers that don't increase their profitability and encourage them to use ever growing alternative financial services? Can banks help create customers that create greater customer profitability? Popular sentiment is go...
The Underbanked don't need banks anymore!
August 15, 2013 07:00 - 58 minutes - 4.51 MBDo the underbanked really need bank accounts anymore? With the introduction of mobile financial options, more and more people are opting out of traditional bank accounts and turning to the myriad of financial options that are becoming available as an alternative to traditional checking accounts. Between pre-paid debit cards, gift cards, Western Union accounts, Paypal, pre-paid cell phones, mobile wallets available, social payment systems, the PayNearMe service, and Peer 2 Peer lending takin...
Special Encore Presentation: Here come the Neo-Banks
August 08, 2013 07:00 - 58 minutes - 4.51 MBPre-paid debit cards are the fastest growing deposit product in countries like the United States and China today. In the US healthy 25% year-on-year growth the last 4 years now amounts to $350 Billion dollar annual business. In contrast checking accounts in the US have been shrinking by close to 4% year-on-year since 2009. The vanguards of the new bank account today, however, are not necessarily the giants of the financial industry. The new bank account is being defined by a different set of ...
Money CAN Buy Happiness!!!!
August 01, 2013 07:00 - 58 minutes - 4.51 MBIt is an old cliche that is proving to be untrue. But the trick to money buying happiness may not lie in how much money we have, but in how and when we spend it. This week Brett is joined by Michael Norton, a Harvard business school professor and author of HAPPY MONEY, which explains how money can buy happiness. In the book, Mr. Norton and his co-author, Elizabeth Dunn, outline 5 principles which help you know when and how to spend your money to increase your overall happiness. Following...
Build the Necessary and Useful ... and remember trust is the new black
July 25, 2013 07:00 - 56 minutes - 4.51 MBWe are now in a time when interface is a more common experience than face to face. It is faster, easier, and simpler... or at least it should be. Banks must look for ways to build bridges to customers through these new interfaces and create customer experiences that build trust, create commonality, and increase loyalty. To reach out to those that are unbanked and underbanked, the challenge is to find ways to make the mobile app friendlier, more trustworthy, and more usable than banks have...
Designing GoodBank™
July 18, 2013 07:00 - 55 minutes - 4.51 MBAfter the banking crisis of 2008 and the lingering effects on the economy, people have felt a mistrust in their banks and communities. Many have put even more trust in credit unions, but have found that there are restrictions on their accounts and access that they don't like. To take a deeper look at these issues and look at what banks and credit unions can do as digital disruption continues, we are speaking with Bruce Cahan, Founder of the Good Bank, and Ben Rogers, a researcher on b...
Here come the Neo-Banks
July 11, 2013 07:00 - 58 minutes - 4.51 MBPre-paid debit cards are the fastest growing deposit product in countries like the United States and China today. In the US healthy 25% year-on-year growth the last 4 years now amounts to $350 Billion dollar annual business. In contrast checking accounts in the US have been shrinking by close to 4% year-on-year since 2009. The vanguards of the new bank account today, however, are not necessarily the giants of the financial industry. The new bank account is being defined by a different set of ...
Special Encore Presentation: When technology becomes more human, does a human provide a differentiated experience?
July 04, 2013 07:00 - 56 minutes - 4.51 MBWhen we think of technology in banking we often think of 40 year old legacy mainframe systems and clunky IVR menu trees (Press 1 for banking, 2 for credit cards, etc) that are complex, unwieldy and don't exactly provide a great customer experience in comparison with sitting in front of a smiling human in a branch location. However, with the advent of technology like Siri, the baby-proof usability of iPad and the ever growing suite of apps, voice biometrics that can tell who you are when you r...
When technology becomes more human, does a human provide a differentiated experience?
June 27, 2013 07:00 - 56 minutes - 4.51 MBWhen we think of technology in banking we often think of 40 year old legacy mainframe systems and clunky IVR menu trees (Press 1 for banking, 2 for credit cards, etc) that are complex, unwieldy and don't exactly provide a great customer experience in comparison with sitting in front of a smiling human in a branch location. However, with the advent of technology like Siri, the baby-proof usability of iPad and the ever growing suite of apps, voice biometrics that can tell who you are when you r...
Moving from Personal Financial Management to Personal Financial Performance
June 20, 2013 07:00 - 57 minutes - 4.51 MBPFM or Personal Financial Management tools first popularized by Mint.com have taken the financial services space by storm in the last couple of years. In this week's show we talk to some of the leading PFM platforms to talk about why banks are taking on PFM capability and how customers are referencing this capability. More importantly we'll also discuss how real-time, personalization, big data, gamification, mobile user experience, rich data overlay and geo-location will move PFM into a day-t...
IS "BITCOIN" the Beginning of the End of Cash?
June 06, 2013 07:00 - 57 minutes - 4.51 MBFor more than 2,000 years commerce has been conducted on the basis of cash, hard cold currency. Today, however, 90% of global transactions are done electronically, and while cash use is still strong in the retail environment, even there cash use is declining in many economies. In this week's show we've invited renowned author David Wolman (End of Money) and American Banker journalist Marc Hochstein to discuss the end of cash and the emergence of digital currencies like BitCoin. Is there a t...
Not your father's banking habits
May 30, 2013 07:00 - 58 minutes - 4.51 MBIn this week's Episode Brett is joined by some of the top research analysts in the field of commercial banking include Rom Shevlin from Aite Group, Kevin Travis a Managing Director of Novantas and Jerry Canning is the Industry Director, Financial Services for Google. Analysis is showing that there are some fundamental shifts in consumer behavior when it comes to banking. Whether it is the de-banked Y-Gen, the smartphone enabled consumer, or simply the dramatic and relentless shift away from ...
How the crowd is changing brand advocacy in banking
May 23, 2013 07:00 - 55 minutes - 4.51 MBSocial networking and platforms like YouTube, Facebook, Twitter, Instagram and Tumbler are changing the way we share and interact. Unlike traditional broadcast channels, these new channels encourage participation, feedback and dialog, but in an environment steeped in traditional processes that discourage transparency banks are sometimes finding the shift towards a more socially engaged brand a challenge. This week on Breaking Banks we interview two leading social media voices in the financial...
Banks that build their brand without Branches
May 16, 2013 07:00 - 57 minutes - 4.51 MBMost banks rely on their branch infrastructure for the vast majority of revenue and customer acquisition today. From the basic requirement many banks have for in-person, face-to-face identification and the legacy signature card, for many banks this is a very hard habit to break. But there are already many banks who've not only cracked this problem, but get the majority (and in some cases all) of their revenue from non-branch sources. In this week's Breaking Banks we talk to Neff Hudson from U...
The Era of Faster, Smarter Payments
May 09, 2013 07:00 - 59 minutes - 4.51 MBFrom the check you used to get on your birthday from your Grandma, to your regular monthly salary payment, through to the mortgage or rent payments you make each month – much of the utility we enjoy in banking revolves around payment capabilities. Whether it is card payments at a store, bank to bank payments, or international wire transfers, the bank has often been the go to place for such basic capabilities. Today, however, a virtual payments revolution is taking place. From the emergence of...
A New Take on Credit and Lending
May 02, 2013 07:00 - 57 minutes - 4.51 MBRemember the last time that you went to your bank branch for advice on lending and investment? Most people don't. Branches simply can't compete with digital services that have proven to provide more information in a more timely manner providing a process with less friction between the consumer and what they need, whether it is a mortgage, or other kind of loan. Also, as mistrust of the traditional banking system has increased over the past decade, entrepreneurs have been turning to tools...