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Today I bring you my conversation recorded live at Money2020 Las Vegas, with Amit Parikh, EVP of BaaS at Green Dot, and Ginger Baker, Head of Financial Access at Plaid.
In this episode, we discuss:
The evolution of consumer data technologies and the importance of providing transparency to customers around privacy and data-sharing practices
“The security of consumer’s data, the transparency about what data is being shared, when, and the control to take an action on whether or not you want to continue to share that data are like three foundational principles that we're building products around every day.” – Ginger Baker, Plaid
What are some of the technologies that will be absolutely critical to support the growth of fintech into 2023 and beyond? Ginger and Amit know all about it
“There's only 11% of bank back-backends that are modernized. So that's not even talking about necessarily being in the cloud. So I think that's first because then your cost of actually trying, when it's cloud-native, the ability to leverage AI to provide a much better mobile experience is already there.” – Amit Parikh, Green Dot
How fintech companies can actually help consumers navigate challenging economic times with expanded access to information and novel financial services
“I would advise us all to stay hyper-focused on what people are trying to do, and help them realize the action they want to take. Sometimes that means leveraging, building, and investing in new technologies. Sometimes that means listening more closely and making a very small adjustment.” – Ginger Baker, Plaid
The future of partnerships between fintechs, incumbent banks, and big tech… and a lot more
“It comes down to focus and speed. So, if a partner wants to do X, who can they work with? Either do it themselves? Or who can they partner with that's going to deliver on time, provide the right experience and continue to innovate with them. So at the end, if it's a large financial institution, if it's a FinTech, if it's a startup, it doesn't really matter.” - Amit Parikh, Green Dot
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Miguel Armaza is Co-Founder & Managing General Partner of Gilgamesh Ventures, a seed-stage investment fund focused on fintech in the Americas. He also hosts and writes the Fintech Leaders podcast and newsletter.
Ginger Baker from Plaid & Amit Parikh from Green Dot – Tech That Will Shape Fintech’s Future & The Evolution of Consumer Data Security