Fintech is only 1% Finished - David M. Brear 11:FS

Welcome back to Fintech Chatter Podcast! In this episode your host Dexter Cousins invites guest No2 back onto the show.

David M. Brear is CEO of 11:FS Group and 11:FS Holdings. The award winning digital consultancy has built digital banks all over the world and through 11:FS holdings, David and the team are finally going to build the next generation of financial services, this time for their own company!

Having first appeared on the show in January 2020, David and Dexter talk about the evolution of fintech, the challenges facing the fintech industry, and the future of digital banking. 

They also discuss the impact of AI on the consultancy model, the importance of understanding customer insights to drive innovation, plus the current state of fintech in the UK and Australia. 

David also reveals his new favourite hobby, the increasing role of influencers in fintech media and his personal health challenges that have him more motivated than ever.

Chapters

00:00 Introduction 
01:16 About 11:FS
03:05 Changing the Fabric of Financial Services
17:20 Regulatory Challenges and Market Dynamics
23:07 The Future of UK FinTech
26:00 Maturity Challenges in FinTech
29:05 Emergence of Influencers in FinTech
33:26 The Power of Podcasting in FinTech
38:13 The Reality of FinTech Media
41:54 Cult of Personality in FinTech
48:55 Building 11FS Holdings
54:30 Health, Work, and Life Balance

For more information on 11:FS - https://www.11fs.com/

Listen to Fintech Insider Podcast - https://content.11fs.com/podcasts

Fintech's Most Ambitious Startup - Constantinople.

In this episode of Fintech Chatter, host Dexter Cousins speaks with Di Challenor and Macgregor Duncan, co-founders of Constantinople, about their journey in building the Operating System for banks. 

About Constantinople

Constantinople is the most ambitious startup in Fintech, tackling the most complex problem in Fintech, rethinking how banks become fully digital. Constantinople is a banking operating system, the AWS for banking, managing all infrastructure and operational aspects of a bank: from Customer experience, Banking products to Features, Risks etc.

How Do You Build A World Class Fintech From Sydney?

Tune in as Mac and Di discuss the challenges of building a global fintech from Sydney. They share their secrets to winning banking clients, the importance of establishing trust, and the strategies behind their successful capital raising efforts. 

We revisit our first interview in 2023 and talk through the challenges and learnings of the past two years.  As they look to the future, they share their vision for Constantinople and the endless quest for excellence.

Chapters

00:00 Introduction to Constantinople
04:09 The Evolution of Banking Technology
07:17 Challenges in Client Acquisition
10:10 Building Trust and Credibility
12:53 Creating a New Category in Banking
16:04 Navigating Capital Raising
19:03 The Importance of Execution
25:02 Scaling the Business
34:08 The Importance of Documentation in Scaling
36:49 Driving Excellence in Early Stage Companies
42:45 Commitment to Excellence: Attracting the Right Talent
49:07 Identifying and Filling Skill Gaps
53:15 Future Vision: Building a Multi-Tenanted Banking Platform

Sean O'Malley, AMP Bank - Evolving Small Business and Personal Banking

Sean O'Malley - AMP Bank

Dexter Cousins welcomes Sean O'Malley CEO of AMP Bank for his Fintech Chatter debut. 

It has been a BIG week for AMP Bank as they launched their new digital mobile-first bank aimed at helping small business owners manage their business and personal finances.

Dexter and Sean discuss the role of technology in modern banking and how an established financial institution tackles innovation.

Sean and Dexter uncover AMP’s extensive research on the needs of small businesses and the need for more human support in banking. Sean also shares the thesis on the problem they’re solving and the rapidly evolving nature of how, when and where people work.

And, Sean shares his secrets to successful partnerships showcasing their relationship with UK Fintech Starling Bank and their ‘Engine’ platform.

About Sean O’Malley 

Sean O’Malley was appointed the Group Executive of AMP Bank in September 2021, after 11 years at AMP. 

He is responsible for the management and growth of AMP Bank, delivering its future growth strategy, uplifting its digital capability and ensuring the ongoing delivery of high-quality products and services to customers.

He has over 25 years of experience in delivering enhanced business results, predominately in the financial services industries.

About AMP Bank

AMP Bank is aiming to disrupt the small business banking market in Australia. They have launched a fully digital, 24x7 human-supported, full-service Bank to help serve the needs of the Australian small business community.

They aim to help Small businesses get started, survive and thrive, embracing the challenge of bringing new thinking, new ways of working and new bold ideas to a 26 year old Bank, inside a 175 year old Super & Wealth business.

Key Takeaways 

Chapters

00:00   The Launch of AMP Bank's New Platform

03:39   Targeting Small Businesses & Personal Banking Customers

06:03   Insights on the Future of Work

11:13   Viewing Business Failures as Learning Opportunities

14:18   Embracing the Challenges of Modern Workforces

17:31   Lessons from Fintech Startups and Neobanks

23:00   Navigating Change and Innovation at AMP

27:28   The Importance of Strategic Business Relationships

31:53   Risk Management in Fintech Partnerships

35:58   Talent Acquisition and Staff Retention

38:59   Managing Stress and Building Resilience

43:50   Future Outlook for AMP Bank

Revolut's Path to 50 Million Customers

Matt Baxby - Revolut

Dexter welcomes back friend of the show, Matt Baxby, CEO of Revolut Australia, to talk about their remarkable growth to 50 million customers globally.

It’s been five years since Tier One People placed Matt into the Country CEO role at Revolut. Matt shares his journey over the last five years, discusses the challenges and strategies involved in building a digital bank in Australia, the importance of reaching profitability, and the unique approach Revolut has taken to integrate technology with consumer needs.

Matt shares his insights on leadership, team building, and the future of consumer banking with Dexter.

About Revolut

Launched in 2015. Revolut's global mission is for every person and business to handle their money in just a few taps, removing the friction that gets in the way of your money goals. 

Revolut delivers faster, better, smarter products to lover 50 million customers across the globe.

The Revolut platform gives you access to investments and your money effortlessly and across borders.

About Matt Baxby

Matt is a strategic and people-oriented leader with diverse experience across consumer-facing businesses facing disruption or significant regulatory change.

He has broad finance services sector experience - particularly consumer banking - from start-ups to an ASX-listed company with an established market position.

Matt embodies the entrepreneurial spirit from a decade with the Virgin Group combined with the discipline and scaled leadership as the Group Executive - Retail Banking and then Group CFO of the Bank of Queensland.

Key Takeaways

Chapters

00:00 Introduction

00:41 Revolut's growth over the past decade

02:28 Profitability and Financial Milestones

05:14 Building a Digital Bank: Lessons Learned

09:58 Opportunities in the Australian Market

10:53 Remittance Flows and Market Disruption

12:19 Future Product Offerings with a Banking License

17:29 Matt's Unique Journey in Fintech

24:31 Building a Cohesive and Effective Team

29:30 What is the BIG Opportunity for Fintech in 2025?

32:13 Looking Ahead: Revolut's Future in Australia

Links & Resources:


Ryan Edwards-Pritchard - Anna.Money Ep 194

In the latest episode of the Fintech Chatter podcast, Dexter reconnects with Ryan Edwards-Pritchard, CEO of Anna.Money.

Ryan chats to Dexter about the recent merger of Cape and how he's joined forces with the UK's Anna.Money to bring a new approach to supporting the 2 million plus small businesses in Australia.

About this episode

Ryan shares the back story of launching Cape in Australia and the challenges he faced getting through the pandemic, securing funding, growing the business and then navigating the funding crunch.

They discuss the synergies that led to Cape being acquired by ANNA and Ryan shares his learnings and advice for other founders seeking an acquisition partner.

Ryan also shares the plans for growth in the region as well as some unique product offerings and services for the Aussie market.

About Anna.Money

As "The business account that does your accounting and taxes" Anna.Money provides a smart all-in-one business account for money, invoicing, expenses, bookkeeping and taxes.

About Ryan

Ryan would describe himself as a British expat Fintech Nerd. His background in the UK saw him heading up Europe's largest digital marketplace for SME Finance in Funding Options.

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Robert Kassis - Digizoo Ep. 192

In this episode of the Fintech Chatter Podcast, Dexter sits down with Robert Kassis, a visionary leader and co-founder of DigiZoo, a digital consultancy supporting some of Australia’s most innovative Fintech including 86 400, Volt Bank, Afterpay Money, Constantinople and Great Northern Bank.

DigiZoo is at the forefront of transforming businesses through innovative digital solutions, helping organizations navigate the complexities of the digital landscape with confidence and agility.

Robert shares his insights on the complexities of digital transformation in today's banks, how DigiZoo helps incumbents stay ahead of the curve, and the critical role that technology plays in driving business success. We also delve into the unique approach DigiZoo is developing by productising their service offering.

Whether you're a founder/executive looking to enhance your product capability or someone interested in the latest trends in digital innovation, this episode offers valuable perspectives on how to thrive in the Fintech 2.0 era.

Key Takeaways:

About Our Guest:
Robert Kassis is the co-founder of DigiZoo, bringing years of experience in digital strategy and innovation. With a passion for helping businesses leverage technology to achieve their goals, Robert has been instrumental in positioning DigiZoo as a leading consultancy in the digital space.

Show Notes:

Links & Resources:

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If you enjoyed this episode, please subscribe and leave us a review on [Apple Podcasts/Spotify/Your Preferred Platform]. Your feedback helps us bring more engaging content and insightful conversations to you.

Join the Conversation:
Got questions or thoughts on this episode? Share them with us on social media using the hashtag [#FintechChatter], or send us an email at info@tieronepeople.com.

140: Alex Bank | Simon Beitz

In Ep. 140 of the Fintech Chatter Podcast, Simon Beitz CEO of Alex.Bank joins Dexter Cousins to chat about the challenges of launching a digital bank.

In 2023, Alex.Bank is the most awarded new digital bank in Australia having received its full ADI in December 2022. 

Alex has over 2000 customers, settling close to $50m in personal loans, and has both lending and deposit products in the market – most recently launching a new Term Deposit product.

Simon talks to Dexter about building a new bank, the lessons learned from other neo banks and his lessons and insights as an entrepreneur.


About Simon Beitz


Simon was motivated to start Alex.Bank after noticing a decline in customer experience in consumer and small business lending due to the focus of big banks on mortgages and transaction banking. He believed that consumers deserved a fairer and easier banking experience. With this in mind, Simon co-founded Alex.Bank in 2018 to challenge the status quo.

About Alex.Bank

The aim of Alex.Bank was to provide a humanised banking experience, which Simon achieved by eliminating complicated paperwork, jargon, and unnecessary fees. He and his co-founder, Craig Fenwick decided to give the bank a human name to bring back the ‘human-touch’ to banking.

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139: Leda Glyptis | Bankers Like Us

In Ep 139 of the Fintech Chatter Podcast, Dexter Cousins welcomes back Leda Glyptis, author of Bankers Like Us.

In this chat Dexter talks to Leda about Bankers Like Us: Dispatches from an Industry in Transition - it's a recounting of the challenges Leda has faced in her career, driving digital transformation in some of the worlds largest banks.

About Bankers Like Us

"Bankers Like Us - Dispatches from an Industry in Transition" looks at the human and structural obstacles to innovation-driven transformation and at the change in habits, mindsets and leadership needed for the next stage of the digital journey.

Leda argues that this change will be brought about, not by external heroes and saviours, not by a generation yet to be born, but people just like us. People who understand the industry and its' quirks. Bankers who have the grit, determination and energy to drive change. Bankers like us.

This book celebrates and chronicles the shared experience of bankers like us. It starts with a ‘this is who we are’ piece, including Leda's own personal experiences. It then presents an overview of corporate culture (this is what we deal with and a few ideas on how to handle it), as well as a piece on why transformation is so difficult and so many get it wrong; a piece on the challenges our lack of diversity brings or compounds, and a hopeful look-ahead on what a team of principled, dedicated folks can do despite everything.

About Leda Glyptis

Leda, is the author of the LedaWrites Fintech Futures column and regular contributor at industry events and publications. She is a lapsed academic and a recovering banker, having worked in ‘incumbent banks’ across various geographies and functions including innovation, IT and Operations.

Most recently, Leda works as Chief Client Officer at 10x and has served at 11FS Foundry, QNB, Sapient and BNY Mellon. She holds an MA from King’s College Cambridge and an MSc and PhD from the London School of Economics.

Order - Bankers Like Us: Dispatches from an Industry in Transition

136: Marqeta | Jeff Parker

In Ep 136 of the Fintech Chattter Podcast Dexter Cousins is joined by Jeff Parker SVP and Managing Director, International at Marqeta.

Ep 136 Marqeta - Jeff Parker. Talking points:

03:38 Pipes and Plumbing of Fintech

05:42 Serving a Global customer base

09:29 Embedded Finance - Hype or BIG opportunity?

19:44 The Marqeta Culture

23:01 Making the switch from Big Bank to Fintech

28:56 Why most people fail in startups

33:45 Where the next big shift in Fintech innovation will come from

39:56 Jeff's Podcast recommendations

About Jeff Parker

Jeff is responsible for building Marqeta’s go-to-market and operational functions internationally and advancing the company’s service offerings in its key markets across Europe and APAC.

In his 20 years of experience in the financial services space, Jeff has worked across four continents, in senior roles at Macquarie Bank and international payments businesses, OFX, and then WorldFirst, a company he led as CEO.

About Marqeta

Marqeta is headquartered in Oakland, California and is certified to operate in 39 countries globally.

Marqeta’s modern card issuing platform empowers its customers to create customized and innovative payment cards.

Its modern architecture gives its customers the ability to build more configurable and flexible payment experiences, accelerating time-to-market and democratizing access to card-issuing technology.

Marqeta's open APIs provide instant access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards and authorize and settle payment transactions.

For more information visit Marqeta

Watch Ep136 Marqeta | Jeff Parker on Youtube

https://youtu.be/Fb6ZzHMCa6E