Given all that is going on in partner banking between community banks and fintechs, it was good timing to have Adam Shapiro on from Klaros Group.
We took a deep dive into the evolving landscape of the financial industry, particularly at the intersection of banking, innovation, and regulation. Adam shared his extensive experience in it. Our discussion focused on 'banking as a service' (BaaS), diving into the regulatory scrutiny it is facing and the importance of understanding the changing regulatory landscape for banks and fintechs. Adam provided insights into compliance, risk management, and the potential of technology to address these challenges effectively.
He also touched on the impact of recent regulatory actions, the importance of banks investing in lines of business like BaaS, and strategies for fintechs in partnering with banks. Looking forward, Adam shared his optimistic view on the future of finance, highlighting the roles of embedded finance and technology in shaping a compliant, innovative, and consumer-friendly financial ecosystem.
This episode offers invaluable insights for financial industry professionals, regulators, and anyone interested in the future of banking and fintech partnerships.
CHAPTER MARKERS:
00:00 Highlight
00:16 Intro
00:28 Sponsor
00:59 Adam Shapiro, Partner/Co-founder of Klaros Group
02:03 Banking as a Service (BaaS): Navigating Regulatory Waters
03:54 The Importance of Compliance and Risk Management in BaaS
08:52 Advising Fintechs in a Tightening Regulatory Environment
18:33 The Future of Banking and Fintech Collaboration
21:48 The Genesis of Klaros Group
23:56 Reflecting on Four Years at Klaros
34:43 Predictions for Banking, Regulation, and Fintech in 2024
38:14 Adam Shapiro's Personal Insights and Rituals
43:02 Looking Ahead with Klaros Group
Thanks to show sponsor, BankTech Ventures.
Jessica Oslo - Founding Partner & Clinical Director of Vantis Institute
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Kate Buckley - CEO of Buckley Media
Jeff Gardner - President & CEO of CalAmp (Nasdaq: CAMP)
Maryam Rofougaran - Founder, Co-CEO & COO of Movandi Corporation
Nicole Suydam - President & CEO of Goodwill of Orange County
Larry Armstrong - Chairman, Former CEO of Ware Malcomb
Nick Zasowski - Director of Global Startup Studio Network (GSSN)
David Friedman - President of Tech Coast Angels (TCA), Orange County chapter
Fred Haney - Investor, Author, Former Venture Capitalist & CEO
Neal Polachek - Founder, ThinkLikeAnApp
Paul O'Brien - CEO of MediaTech Ventures
Derek Herrera - Founder of Spinal Singularity
Spencer Rascoff - Founder of dot.LA, Former CEO of Zillow
John Bradley Jackson - Investor, CSUF Professor, Author, Startup Adviser
Nicole McMackin - President & CEO of Irvine Technology Corporation
Dr. Wallace Walrod - Chief Economic Adviser of Orange County Business Council
Steve Pfrenzinger - Serial Entrepreneur, Hall of Fame Angel Investor and Executive Coach
Niall McSheffrey - Managing Partner of Elementz Ventures
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