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Banking on Disruption Daily

Fred E. Cadena

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Want to keep on the pulse of banking innovation? “Banking on Disruption Daily” delivers a power-packed 3-minute dose of the hottest financial headlines. From fintech breakthroughs to regulatory shakeups, we distill the day's most crucial banking news. Perfect for industry pros and curious minds alike. Tune in daily and stay ahead in the fast-paced world of finance!
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Originally released on October 27th 2021, this episode of The CIBC Innovation Banking Podcast is part of our ongoing celebration of meaningful dialogues with our listeners. As we highlight some of our standout episodes featuring trailblazers and icons in the Innovation Economy, we recognize the enduring relevance and value of the insights shared. J…
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Originally released on November 15 2023, this episode of The CIBC Innovation Banking Podcast is part of our renewed focus on highlighting exceptional conversations within the American Innovation Economy. Join us as we revisit these insightful discussions and shine a light on the ongoing innovation that shapes our industry. According to Marcos Torre…
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JPMorgan Chase faces a lawsuit over low interest rates in its cash sweep program, accused of breaching fiduciary duties and gross negligence. The bank is also under scrutiny for Zelle network transactions, while a London High Court ruling resolved a legal dispute concerning Viva Wallet. In earnings news, BMO Financial Group missed third-quarter exp…
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Federal Reserve Chair Jerome Powell has hinted at potential interest rate cuts, offering relief to banks invested in commercial real estate facing market volatility. This potential policy adjustment is already boosting market sentiments and may stabilize lending conditions. Visa is reportedly in advanced talks to acquire fraud-prevention firm Featu…
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First up today, the minutes from the Federal Reserve’s July meeting show several officials support a 0.25 percentage point rate cut due to declining inflation and rising unemployment. Revised job data also indicates the economy added 818,000 fewer jobs than previously thought. Federal Reserve Chair Jerome Powell stated progress on slowing inflation…
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Welcome to Banking on Disruption Daily for Wednesday, August 14, 2024. I’m Fred Cadena. First, Forum Credit Union partners with Apiture to enhance digital banking capabilities for its 162,000 members in Indiana, focusing on improved online experiences for commercial clients. Next, French consumers are increasingly adopting digital wallets. Millenni…
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First up: Pennsylvania-based Customers Bancorp has been hit with an enforcement action by the US Federal Reserve due to significant deficiencies in its risk management and anti-money laundering practices. The bank must submit a plan within 60 days to improve its digital asset strategy and compliance program. Next: Bank of America faces scrutiny for…
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Federal Reserve Debate: Donald Trump's comments about presidential influence over the Federal Reserve have raised concerns about the central bank's independence and the risk of inflation, echoing historical instances like the 1970s. Ripple Labs Settlement: Ripple Labs has agreed to pay a $125 million fine to the SEC over XRP token sales as an unreg…
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First up today, we discuss how platforms and neobanks are leveraging direct deposits for revenue growth and customer loyalty, with standout performances from SoFi, LendingClub, Chime, Block's Cash App, and Monzo highlighting the trend. In Fintech news, Texans Credit Union has partnered with Atomic Financial and Alkami Technology to launch a new dir…
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Welcome to Banking on Disruption Daily for Wednesday, August 7th, 2024. I'm Fred Cadena. First up today, US fintech Octane has secured a $50 million Series E funding round, exclusively from existing backers led by Valar Ventures and Upper90. Founded in 2014, Octane serves the powersports market and plans to use the new funds for market expansion an…
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First up today: A PYMNTS Intelligence report reveals that more than half of U.S. consumers now use peer-to-peer (P2P) apps like Venmo and Zelle, raising concerns over growing fraud. Financial institutions are increasingly leveraging AI and machine learning to combat impostor scams and maintain trust. In job market news: July saw a slowdown in job g…
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First up, Mastercard and Visa are ramping up cybersecurity by deploying advanced AI to detect and prevent fraud, aiming to enhance consumer trust in digital payments. In card news, Chase and DoorDash renew their collaboration, offering new perks like recurring discounts and a complimentary DashPass for new cardholders. DoorDash expands its delivery…
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First up today, mortgage servicing rights have surged in value amidst high interest rates, but the industry's future remains uncertain as experts debate upcoming economic shifts. In other interest rate news, the Federal Reserve's meeting might be overshadowed by the Bank of Japan's decisions on potential tightening, significantly impacting global m…
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First up today, Embedded Finance is making waves by integrating financial services directly within platforms like ride-sharing apps and e-commerce sites, offering a seamless user experience. Next, three federal bank regulatory agencies are evaluating steps to ensure banks handle risks in their FinTech partnerships, emphasizing effective risk manage…
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Welcome to Banking on Disruption Daily for Friday, the 26th of July, 2024. I'm Fred Cadena with today's top stories.First up, federal regulators have issued a joint warning about significant risks in bank-fintech partnerships, emphasizing the need for robust cybersecurity, proper data handling, and regulatory compliance.Next, BNP Paribas has identi…
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Welcome to Banking on Disruption Daily for Thursday, July 25th, 2024. I’m Fred Cadena.First up today, New York Community Bancorp faces a quarterly loss and plans to sell its mortgage servicing unit to streamline operations and boost capital amid rising interest rates and economic pressures. Investors are eyeing the impact of these strategic moves o…
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Welcome to Banking on Disruption Daily for Wednesday, July 24, 2024. I’m Fred Cadena.First up today, small banks are reassuring stakeholders about the health of their commercial real estate loans amidst broader economic concerns. These institutions report low delinquency rates and stable asset performance, benefiting from their close relationships …
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Welcome to Banking on Disruption Daily for Tuesday, July 23rd, 2024. I’m Fred Cadena.First up, Google has decided to continue using third-party cookies in its Chrome browser, reversing its earlier plan to phase them out. This move follows pushback from advertisers and regulators, and signifies Google's ongoing efforts to balance user privacy with t…
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Welcome to Banking on Disruption Daily for Monday, July 22nd, 2024. I’m Fred Cadena.First up today, the US Consumer Financial Protection Bureau (CFPB) has proposed a new interpretive rule that mandates clearer consumer disclosures for payday loan advances under the Truth in Lending Act. Transparency in fees and practices is emphasized to prevent ex…
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Welcome to "Banking on Disruption Daily" for Saturday, July 20th, 2024. I’m Fred Cadena. First up today, the Federal Reserve Board fines Green Dot $44 million for alleged unfair and deceptive practices linked to its prepaid debit card products and tax return payment services. The firm is mandated to enhance its risk management programs and hire an …
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Welcome to Banking on Disruption Daily for Sunday, July 21, 2024. I’m Fred Cadena.First up today, rumors are rife that former President Donald Trump may announce a U.S. Bitcoin strategic reserve at the upcoming 2024 Bitcoin Conference in Nashville. This move could elevate Bitcoin’s status alongside traditional assets within the U.S. Treasury’s rese…
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Welcome to Banking on Disruption Daily for Friday, July 19, 2024. I’m Fred Cadena.First up, a massive tech outage worldwide disrupted banks, businesses, airlines, and even emergency services. Major financial institutions like Bank of America and JPMorgan Chase faced significant operational challenges due to a technical glitch at cybersecurity firm …
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In today's episode: - The European Central Bank leaves interest rates unchanged, with market eyes on future policy directions as the euro strengthens against the dollar. - The Consumer Financial Protection Bureau classifies payroll advances, or "earned wage access," as loans, prompting potential regulatory changes and industry pushback. - EPAM’s Co…
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First up today, Morgan Stanley is leveraging artificial intelligence to enhance its financial adviser operations, streamlining tasks and improving client interactions for better financial outcomes. Next, studies reveal that call centers and bank branches remain significant vulnerabilities in fraud prevention, with cybercriminals exploiting these en…
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Welcome to Banking on Disruption Daily for Tuesday, July 16, 2024! - The Supreme Court has issued rulings likely to benefit fintech companies by lowering barriers for them to enter the banking industry, potentially spurring competition and innovation in financial services. - Federal Reserve Chairman Jerome Powell expressed optimism about cooling in…
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In a conversation with host Michael Hainsworth, Andrew Waitman, CEO of Assent, a data management platform that informs and guides ESG strategy, delves into the evolving landscape of ESG (Environmental, Social, and Governance), and the importance of responsible supply chain management. He underscores the growing scrutiny from stakeholders, investors…
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Bow River Capital is an employee-owned diversified investment platform that specializes in the lower middle market. John Raeder, the Vice Chairman and Head of Software Investments, launched the Maiden Fund in 2018, a Software Growth equity fund at Bow River, which was oversubscribed by $160 million dollars. John focuses on what he sees as a capital…
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Malcolm Locke, CFO of UK-based B2B software service company Egress, sits down to discuss Brexit, expanding to North America and why the UK is still attracting investments. He’s joined by CIBC Innovation Banking’s Managing Director for UK & Europe, Sean Duffy, who adds his valuable expertise to the conversation. In a post Brexit and high-inflation e…
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Maria Pacella has over two decades of experience investing in emerging growth technologies, and thinks that the best venture capitalists have a range of experiences gained through working in different roles. As an investor, Maria looks for three things: people, product and pent-up demand. She would prefer to invest in a strong team and founder with…
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In the business world, it’s never been more important for companies to build a brand that’s trustworthy, credible and authentic. Considering realness is the basis for her business model, StoryTap co-founder Bernadette Butler lives and breathes by this maxim. StoryTap turns consumers into evangelists—not by using fancy, high-quality video content, b…
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Since it spun out from the wildly popular online media company TechCrunch in 2015, Crunchbase has been blazing its own trail. The company recently raised $50 million in a Series D round, and it comes at a difficult time for raising funds—not just for B2B software as a service, but for the industry as a whole. Nobody knows that better than Crunchbas…
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If you've ever filled out a survey online, there’s a good chance you've used technology created by Montréal-based company Potloc. The consumer research company extracts consumer insights by reaching niche audiences through social networks. In this episode, Michael sits down with Potloc’s Co-Founder and CEO Rodolphe Barrere. After co-founding the co…
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There comes a time when some startup founders need to turn over the reins of their company to someone new. Some founders may hold on for too long and ultimately fail to accelerate the company’s growth, and others may move too fast and miss out on a chance to capitalize on the first mover advantage. In this episode, Michael sits down with Hootsuite’…
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Professional investors need an efficient way to compare their universe of companies, which is where firms like Canalyst come in. Canalyst’s database of thousands of enterprises helps give the pros the edge they need to uncover more investment ideas, generate better returns and bring in more assets. In this episode, Michael sits down with Canalyst’s…
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Although some venture capital firms snapped their wallets shut during the first few months of the pandemic, it quickly became apparent that the startups who were able to pivot their business model and go fully digital would not just survive this time period, but thrive. In this episode, Michael sits down with Christian Lassonde, the Founder and Man…
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It’s been said that data is the new oil. Not only has it acted as a fuel for growth, but data has been the catalyst for a whole new way of doing business. In this episode, Michael sits down with Stephany Lapierre, the founder and CEO of Tealbook, a supplier data foundation that uses artificial intelligence and machine learning to enable supply-side…
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Account-based marketing (ABM) is a targeted B2B strategy that focuses sales and marketing resources within a specific market. Terminus, a leading account-based marketing platform, has a goal of moving from an ABM company to a platform of record — but how does a startup evolve as it expands from its home turf all the way to Europe, the Middle East, …
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Some like to be a big fish in a small pond, while others enjoy the hustle of being a small fish in a big pond. For the founder of Two Small Fish Ventures, Eva Lau, swimming with the sharks of Silicon Valley was more her speed. Along with her husband Allen Lau, the co-founder and CEO of Wattpad, Eva launched the investment firm to give back and help…
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As Executive Vice President and Chief Security Officer at CIBC, Keith Gordon has been on the receiving end of an untold number of pitches from startups. In this episode, we discuss how to get a foot in the door, the elements that go into a great pitch, and what to do once you’ve secured a meeting with a prospective client. We explore the reasons wh…
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Katherine Regnier is the CEO and founder of Coconut Software, a customer engagement platform for financial institutions. She launched the company in 2011 after recognizing the need for improved scheduling software while struggling to book a massage appointment. Since then, Katherine has led the company through venture capital funding, strategic par…
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Michelle McBane is the Managing Director at Standup Ventures, a seed-stage fund investing in women led Canadian technology startups. On this episode, we discuss where Canadian VC dollars went in 2020, how COVID-19 affected the industry, and how VC funds like StandUp Ventures are leading the way by investing in the next generation of women entrepren…
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Carter Griffin is the general partner at Updata Partners, a company using key metrics to help SaaS companies scale their businesses exponentially using a predetermined framework. This is a framework that Carter and Updata have honed after years as technology entrepreneurs and investors. It’s based on analyzing specific metrics that help you better …
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The global food supply chain is the world’s largest and most interconnected market and the COVID-19 pandemic has quickly proven that the weakest links in this supply chain are only magnified by complex economic and political issues. When we’re talking about something as paramount as access and affordability of food, some of the numbers are staggeri…
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Armen Bakirtzian is co-founder and CEO of Intellijoint Surgical, a company striving to improve orthopedic patient care through technology. He is an engineer, and the son of an orthopedic surgeon which he says armed him with the knowledge of the need in this industry that led him to launch and grow Intellijoint. On this episode, we learn the origin …
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Naomi Goldapple heads up AlayaLabs for AlayaCare, a company on the cutting edge of digitally transforming home care. When the pandemic hit, they, like so many others, had to make a rapid shift and innovate through crisis, developing products and digital methodologies to enable home care that was safe and effective for patients, families and home nu…
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Listen to stories of innovation, entrepreneurship and how to scale a business amidst a transforming economy. Innovation economy entrepreneurs share their insights on how we can create a future fueled by innovation with host Michael Hainsworth. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with o…
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Before the global pandemic, online testing company ProctorU was already a success story. But once it became evident classrooms wouldn't be hosting student exams any time soon, founder and Chief Strategy Officer Jarrod Morgan saw almost a decade's worth of growth in a few months. That doesn't mean Morgan could afford to sit back and wait for the pho…
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Jack of all trades, Master of none Years after coding a restaurant employee scheduling system for his father’s chain of sandwich stores, 7shifts founder Jordan Boesch had branched out into retail and other scheduling-heavy industries. “They told us it was good. It wasn’t great,” he laments. His solution? Get back to his roots. Close a door, open a …
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Say “Yes, and…” When Expensify CEO David Barrett pitched his big idea, it was flatly rejected. But when investors and potential customers told him a throw-away idea was insanely great, he didn’t fight back. Today the expense management company is one of the world’s most successful players in the Innovation Economy today and all because Barrett said…
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Host Michael Hainsworth shares insights from innovation economy entrepreneurs on how to grow a business during a pandemic. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.Michael Hainsworth
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