BT_RexSalisbury_2026-05-10_Mix1_MR1943
פרקים
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0:11פרק 1: If you think the biggest fintech threat to your bank is a digital wallet or a sleek new credit card, you're missing the real story. 82s · Speaker 1
If you think the biggest fintech threat to your bank is a digital wallet or a sleek new credit card, you're missing the real story. While the industry watches companies like Nubank and wonders what its U .S. entry could mean, a far more imp…
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1:34
I think the number one trend to be paying attention to right now is the fact that there are at -scale tech players who are today taking market share in mass affluent. That was not true even three years ago. And it was not true of the compan…
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2:48פרק 3: You know, it's interesting, Rex, because it's a trust factor. 303s · Speaker 1
You know, it's interesting, Rex, because it's a trust factor. You know, seven years ago, organizations were, you know, the fintechs were unknown. And as you said, the people that were not being served by financial institutions said, well, I…
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7:51
you look at JPMorgan Chase and you look at their digital monthly active users, which isn't like a great number, you'd probably care about a different number, but it's a number that they disclose regularly. It's about 60 million. monthly act…
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9:39
So Rex, with this being said, you know, we're talking a lot about the wealth transfer that's going to happen as people my age start passing on and the money's being managed by people that are much younger than us, our kids or maybe our spou…
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14:39פרק 6: What is happening now is I think more and more products and services are getting bundled around the core wealth management experience. 77s · Speaker 1
What is happening now is I think more and more products and services are getting bundled around the core wealth management experience. The great news about doing wealth management for a client is you have a huge relationship with them. Thei…
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15:57פרק 7: it's more of a. 72s · Speaker 3
it's more of a... a retention tool to retain existing customers, or an acquisition tool, help you say like, hey, you put up a bunch of posters, say, do your taxes for free, you get attention from folks, you might be able to cross sell them …
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17:12פרק 8: gone through a lot of changes. 301s · Speaker 2
gone through a lot of changes. FinTech, you know, eight years ago, nine years ago, was disrupting everything or we were worried about disrupting everything. There were companies being introduced every single day and it's not that way anymor…
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22:14פרק 9: very small compared to annual revenues per user for a typical American client in the banking system. 302s · Speaker 2
very small compared to annual revenues per user for a typical American client in the banking system. What that meant was they had to be incredibly efficient about serving that customer. If you tell an American banker, like, hey, you got a m…
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27:17פרק 10: And in fact, Capital One just acquired Brex for $5 . 273s · Speaker 1
And in fact, Capital One just acquired Brex for $5 .15 billion, which was the biggest bank fintech deal in history. And if you haven't used Mercury or Ramp, It is a fundamentally better product in terms of logging it. Especially if you like…
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31:50
there is, yeah, it's a little bit more complicated than this, but you can like press a button in a piece of software you're in every day and get capital. And eventually it will be that easy. It will literally be, what do you want? Here are …
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36:50פרק 12: It's still going to take another 10 years. 303s · Speaker 3
It's still going to take another 10 years. But I think now for the first time - But 10 years is a short amount of time. Yeah. I mean, six years was COVID and that feels like yesterday. Yeah. And let's go back to like the Robinhood gold numb…
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41:54פרק 13: Hard to sell to quarterly shareholders. 301s · Speaker 2
Hard to sell to quarterly shareholders. So do you see any legacy bank being able to get out of their own way enough? to compete aggressively with the fintech providers that we see possibly? I mean, we make all kinds of assumptions, but they…
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46:55פרק 14: was just rational. 301s · Speaker 1
was just rational. They didn't want to be wasting money. And there are a lot of people who are going to rationally start looking at their money all across the financial ecosystem. in the next, you know, one, three, 10 years and realize they…
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51:57פרק 15: Other food for thought to leave you with. 37s · Speaker 1
Other food for thought to leave you with. Thank you so much for being on the show. I appreciate your time and your insights. Thanks a lot. Awesome. Thanks so much, Jim. See you around. Cheers. Thanks for listening to Banking Transformed, th…