Nov 12 2024 27 mins 2
Fresh from the 12th annual Money 20/20 US conference, Jordan McKee and McKayla Wooldridge return to the podcast to discuss all things FinTech with host Eric Hanselman. While the theme of the conference, “human in the machine”, focused on AI, there was less drama, as exhibitors and attendees grappled with a changing investment landscape and regulatory pressures. The CFPB’s release of the open banking rule is generating significant activity as both banks and FinTech companies implement open banking capabilities. There was added regulatory scrutiny to contend with after a notable failure in the banking as a service market. Ecosystems are expanding in payment orchestration, as more providers open their environments to support multiple payment processors, driven by merchant demands. While there has been a significant pullback in investments compared to previous years, funding is happening and deals are getting done.
There were some long-standing trends that came back this year. Jordan is branding the renewed focus on cloud wallets as Wallet War II, as vendors vie to win guest checkout placements. Cryptocurrency in the form of stable coins, was back as means for cross border transactions. It’s an area where there is significant tech being applied. As McKayla discussed in episode 186, B2B payments are seeing ongoing digitization. The conference was rife with activity and there is much more that we discussed.
More S&P Global Content:
- A primer on payments orchestration
- Key takeaways from 2024's Money20/20 US
- Virtual cards offer a boost to security, could help streamline B2B payables
- Payments, fraud prevention enhance strategic value for merchants – Highlights from VotE: Customer Experience & Commerce
- Emerging fraud typologies primer, Part 1: Fighting 'friendly fraud' in e-commerce
Credits:
- Host/Author: Eric Hanselman
- Guests: Jordan McKee, McKayla Wooldridge
- Producer/Editor: Donovan Menard and Odesha Chan
- Published With Assistance From: Sophie Carr, Feranmi Adeoshun, Kyra Smith
