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

AMP Bank has launched a fully digital offering for small business owners.
The future of work is evolving, with more emphasis on gig and flexible employment. Sean sees continued growth in small and micro businesses as a result.
The banking industry faces challenges in balancing innovation and risk management.
Brand reputation is crucial for banks, especially in the digital age.
Curiosity and a willingness to learn are key traits for success.
AMP Bank is focused on building a customer-centric culture.
Partnerships are vital for delivering innovative banking solutions.

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

Revolut aims to be a single place for managing financial life.
The company has grown to over 800,000 customers in Australia.
Revolut has achieved profitability at both group and local levels.
Building a strong local team is crucial for success in new markets.
The fintech landscape is maturing, with significant challenges for startups.
Australia's remittance market presents a unique opportunity for Revolut.
A strong focus on technology and innovation is essential for differentiation.
Leadership qualities include action orientation and adaptability.
The importance of a clear strategy in a fast-paced environment.
Talent acquisition is critical for long-term success.

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:

Visit Revolut website
Connect with Matt Baxby
Connect with Dexter Cousins
Learn more about Tier One People

Paul Weingarth - Slyp Ep 195

We have a great Fintech Chatter Podcast for you this week, a transformative piece in more ways than one. Dexter Cousins caught up with Paul Weingarth, Co-founder & CEO of Slyp, Australia’s only independent startup backed by all four major banks.

About This Episode

12 months ago Paul and Slyp were in a challenging place. Paul's health and fitness had suffered with the stress of running a startup and Slyp were facing capital runway challenges. Things weren't looking great.

After a week of playing the victim (and a good talking to himself), he decided enough was enough and he needed to change right now! By focussing on his health first, the past year has been phenomenal. Paul is back in his best shape since his Uni days, shedding 25kg and doing his first triathlon. And Slyp has bounced back from its challenges with the launch of Go Rewards!

This is one of our favourite-ever episodes. Paul first appeared as an early guest - to see first-hand his journey and to be able to share it with you through the podcast is something we're really proud of!

About Slyp

Since Slyp launched in 2017 they have made it their mission to bring brands closer to their customers. The digitising of receipts and connecting the "SKU to Who" has allowed them to grow their market presence. Their DNA has always been about enriching the customer experience and helping retailers unleash the power of their POS data, to drive targeted engagement opportunities with their customers.

Go Rewards Powered By Slyp

They recently launched Go Rewards the first turnkey, full-stack loyalty platform that drives smarter commerce allowing retailers including, Kmart, Country Road Group, Chemist warehouse and countless others, the opportunity to harness the power of consumer buying, getting to "Know & Grow" their customer relationships.

About Paul

With a career rooted in digital commerce and payments, Paul previously led PayPal Australia’s growth team. His expertise and passion lie in customer experience, with a vision to revolutionise payment experiences, delivering step-change value to both retailers and their suppliers.

Outside of work, Paul has reignited his dedication to health and fitness, recently competing in his first triathlon.

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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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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 insight.

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Stevie Ann Dovico - Beyond Bank Ep 188

In episode 188 of Fintech Chatter podcast, Dexter Cousins is joined by Stevie-Ann Dovico, CIO of Beyond Bank.

We know what you're thinking, This is a Fintech Podcast, why are you featuring a Community Bank?

Back in 2020 Dexter made a bold prediction that talent would move from Fintech and Big banks to the community banking space, as they looked to make an impact on community.

So we were not as surprised as others when Beyond Bank managed to attract one of NAB's rising star executives in Stevie-Ann.

Tune in as Dexter chats to Stevie-Ann about her motivations for joining a community bank, the synergies with Fintech and how Fintech founders can work in partnership with community banks to solve BIG societal problems like affordable housing.

About Beyond Bank

Beyond Bank is one of Australia's largest, 100% customer-owned mutual banks with a credit union heritage.

Founded over 60 years ago by those who felt left behind by a traditional banking system that failed to meet their needs or expectations. Beyond Bank has a vision to be the best bank for relationships. Striving to create and return value for their customers and communities helping to change lives.

Stevie-Ann talks about how Beyond Bank proudly attained B Corp Certification in Australia, showing their commitment to the social and environmental impact their business has on the community.

About Stevie-Ann Dovico

Stevie-Ann is a dynamic and visionary Information Technology and Digital Executive with over 15 years of experience in Financial Services across Asia Pacific.

She has proven success in leading large (600+), cross-functional, global teams across Technology, Digital, Strategy and Innovation, Product and Distribution, Risk and Compliance and Enterprise Transformation.

At Westpac, Stevie-Ann experienced the growth of the Australian Fintech scene through the partnership with Re-Inventure fund and her involvement with Stone and Chalk.

In 2022 Stevie was awarded Executive Leader of the Year by Women in Digital. She holds an MBA from the University of Sydney in addition to B.Business and B.Information Technology.

Stevie is a Member of the Australian Institute of Company Directors.

David Hanna - Finmo

In episode 187 of the Fintech Chatter podcast, Dexter Cousins is joined by CEO of Finmo, David Hanna.

David talks to Dexter about how he and the team are tackling a global problem affecting pretty much every SME.

David shares his Fintech journey as the Head of Risk and Compliance at Paypal and Chief Risk and Compliance Officer at Rapyd.

Tune in to find out how to make the transition from risk to CEO, the optimal way to launch a global Fintech and how to win enterprise clients without a marketing budget!

About David Hanna

David is the CEO and co-founder of Finmo and has over 20 years of expertise in the financial services and payments sector. Prior to founding Finmo, he held global leadership roles in Risk and Compliance for Financial Services companies headquartered in various locations globally.

David has held senior roles across companies such as PayPal, Ernst & Young, Zurich, ING Bank, Banxa and others. He serves on several advisory boards and has invested in many startups around the world.

About Finmo

Finmo is a global B2B treasury management platform that is focused on providing the necessary tools for the “CFO Office” including finance teams, CFOs, and treasurers. The business provides a single platform to enable the core elements of treasury to be managed from one place.

Finmo does this by providing four core modules to its clients which are;

Money movement
Cash management, including AR/AP modules
FX Hedging capabilities
Integrations into existing accounting and enterprise software

Following 20+ years of working across the financial services industry with founders from organisations such as PayPal, Citi, and other big names, the Finmo exec team realized that everyone has a treasury problem!

In identifying this problem, we believe there is a significant gap in the market for a solution that serves the end-to-end treasury management lifecycle.

Christian Westerlind Wigstrom - Monoova Ep 146

Dexter Cousins is joined by Christian Westland Wigstrom Co-Founder and CEO of Monoova for episode 146 of the Fintech Chatter podcast.

Dexter and Christian first connected in 2018 when Christian did a presentation on the future of Payments title The Death of Payments 2030. Christian presented a day in the life of a woman named May to predict how payments will have changed by 2030. Christian argued that while payments would not die, paying would.

5 years on Dexter invites Christian to share an update and discuss if any of his predictions are coming true. Or has he changed his mind?

About Christian
Christian is the Co-Founder and CEO of Monoova, a Sydney-based, B2B payments automation platform and a member of the Fintech Australia Board since November 2022.

Over the past five years, Christian has led the building of a company servicing domestic and international tech-first platforms such as Wise, Nium and a significant portion of the Australian digital-currency industry. To date, Monoova has processed $75bn through its API-driven solution, more than half of which since the start of FY22. Christian has been a finalist for the ‘Outstanding Fintech Leader of the Year’ by Fintech Australia in 2020, 2021 & 2022.

Born in Sweden, Christian obtained a Master’s Degree in Economics, and a PhD in International Relations from Oxford University in the UK. Following a position as speech writer and economic advisor in the House of Lords in London, Christian moved to Zimbabwe to work as Chief of Staff at a Harare-based agricultural group with operations across Southern and Eastern Africa. He arrived in Sydney in late 2016

About Monoova

Monoova is a leading, Australian, payment service provider. Via API integration, Monoova provides businesses comprehensive automated and real-time payment solutions that address and resolve traditional pain points of payment processing and management.

Through, Monoova’s customisable solution, businesses can send, receive, and manage funds transfers more efficiently, reduce costs and improve their customers' payment experience.

Servicing domestic and international tech-first platforms, Monoova has processed over $75bn.

As the first mover in the market on the new domestic PayTo transaction type earlier this year, Monoova already provides ‘real-time direct debits’ at scale in the market.

https://www.monoova.com/

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007: CANVAS | David Lavecky

In Ep. 007 of Blockchain Chatter Dexter Cousins talks to David Lavecky, CEO and Co-Founder of CANVAS.

Tune in as they discuss the latest RBA CBDC eAUD initiative and the work CANVAS is piloting on Atomic FX settlements.

As a payments and fintech veteran, David shares his thoughts on the convergence of blockchain and payments and why he feels the time is right for mainstream adoption of the technology.

About CANVAS

CANVAS is a global blockchain company with a mission to digitise finance. They offer decentralized capital market infrastructure that enables financial institutions and governments to easily expand their reach into the digital economy.

Canvas Connect is a privacy focused Layer 2 ZK network built for finance and the digital economy. Connect extends the capabilities of Ethereum with assurances of privacy, high speed and low costs.

Connect uses an API first model that supports easy integration with no solidity skills required.

Capital Markets Applications are built on the network that enable the Transfer, Trade & Investment of Tokenised Real World Assets, Stablecoins, CBDCs & Digital Assets, all with privacy and secured by Ethereum.

With a deep understanding of financial markets and the digital economy, CANVAS is committed to driving the digital transformation of banks, financial institutions, and governments in the modern landscape. By providing innovative solutions that are faster, more secure, and more cost-effective than traditional systems, Canvas is helping to unlock the potential of digital finance globally.

About David Lavecky

David is a highly experienced technology entrepreneur and investor, and CEO and Co-Founder of CANVAS

He was previously the Co-Founder, COO & EVP of Pure Commerce which was one of Australia’s first high-growth fintech companies, providing electronic payment infrastructure to banks globally. Following the sale of Pure Commerce to Euronet WorldWide (NASDAQ: EEFT), David was retained to continue the global growth, working with major banks and financial institutions across the globe.

As their next venture, David and his brother Daniel Co-Founded CANVAS in the belief that Blockchain technologies, Digital Assets, & Tokenisation will radically transform financial and capital markets over the next decade with trillions of $ of securities and currencies to be tokenized and traded 24/7/365.

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