SET Training - Banking and Fintech

The High-Speed Illusion To the average consumer, the act of paying has reached a state of near-magic. A biometric "tap", a mobile swipe, or a background process so integrated it feels invisible—the expectation is simplicity itself. This effortless front-end experience creates a powerful "High-Speed Illusion" of industry-wide mastery. Indeed, global executives perceive payments as the second most innovative industry on the planet (81%), trailing only information technology. However, as any strategic consultant will tell you, simplicity is often the most expensive thing to build. Beneath this "tap and go" surface lies a hidden friction. The industry is currently locked in a high-stakes "push-pull" struggle: the push of real-time rails and AI-driven convenience against the pull of rigid legacy debt and sophisticated fraud. To understand the future of money, we must look past the consumer interface and confront the internal paradoxes that separate th...

In a world of immediate payment options like Venmo and Zelle, most U.S. banks are still using the same payment-processing technology they installed in the 1980s. Consumers have come to embrace real-time payments, looking increasingly to digital-first nonbank financial players for increased speed and convenience. It has created a landscape where many legacy banks are lagging behind both their customers’ expectations and their competitors’ capabilities. To explore how legacy banks can get up to speed on real-time services, PaymentsJournal sat down with John Brady, Chief Architect and Head of Engineering at BillGo, as well as Elisa Tavilla, Director of Debit Payments at Javelin Strategy & Research. Listen to this PODCAST HERE .

The super app Revolut aspires to build the U.S. into one of its major markets, but has found that American consumers have unique financial preferences. How is the neobank adjusting its growth strategy and product portfolio, while keeping a sharp eye on a new competitor named Musk? Check it out HERE

Banks don’t fail very often, and bank runs appear to be mostly a thing of the past. The last bank failure in the United States happened in 2020 when a small bank in Kansas failed. That two-year streak was broken this Wednesday with the failure of the crypto focused bank Silvergate, and on Friday with the failure of Silicon Valley Bank.

Banks and fintechs are like the financial services' version of ‘The Odd Couple.’ Fintechs and neobanks are going through a rough patch, which, for some, will be fatal. The banking industry continues to go through seismic changes, with worse to come. At the same time, many are still plugging away at digital transformation. Partnerships may be the best bet for both going forward — but a twist called 'community fintechs' could be a spoiler. Read the full article HERE .