 FedFis Announces New EVP, FINTEGRATED SOLUTIONS
Austin, TX. – FedFis today announced that Patrick Rivenbark has joined FedFis as EVP, FinTegrated Solutions. Patrick previously worked at MEDICI and FIS Global. In addition, Patrick is very involved in the Carolina FinTech Hub. He is widely recognized as one of the top FinTech experts in the United States. FedFis is the go-to solution for Banking & FinTech in the U.S. The largest financial services firms in the world rely on FedFis. Dave Mayo, CEO of FedFis said, “Unlocking the FinTegration Ecosystem© for US Banking has created a new era of data analytics and integrations never before possible. Combined with a winning team of FinTech and Banking experts, we have solved the FinTech Equation. We refer to FedFis as the 'Moneyball' of banking. We created FinTegration Strategy and it is creating significant shifts in market share among technology vendors to the banking industry.” Patrick commented, “With the rapid growth in FinTech, U.S. Banks & Credit Unions should have more options when it comes to new digital banking vendors. However, many emerging FinTech vendors simply don’t have the right data or industry knowledge to appreciate the complexity of the current ecosystem – both in terms of market trends and technical compatibility. I’ve been so impressed with how FedFis combines banking knowledge and unique vendor data to help FinTech’s thrive for US financial institutions. If we can help these companies thrive, Community Bankers will have more integration points, more options, and more leverage to lower their digital spend. This will result in a more competitive banking ecosystem which is great for Banking, FI FinTech vendors, and ultimately banking customers." Patrick’s initiatives include:
About FedFis “We are the enzyme between FinTech & Banking.” FedFis offers full financial data, and vendor data on all U.S. Banks & Credit Unions. Market leading Email Contacts for each FI in the U.S. FedFis helps Banks understand how to lower their digital spend and initiate new products based on a ‘FinTegration Strategy.’ FedFis also arms FI FinTech companies with actionable financial institution leads and Protects VC investments in FI FinTech. FedFis Announces New Vice President of FinTegration Strategy & Sales
Austin, TX. – FedFis today announced that Bobby Button has joined FedFis as Vice President of FinTegration Strategy & Sales. Bobby recently served as Relationship Manager at Malauzai Software, and before that, he built and managed Malauzai’s Lead Generation program. Bobby’s key accomplishments include generating millions of dollars in revenue and hundreds of net-new Bank & Credit Union leads. Bobby advised Financial Institutions on FinTech Digital strategies centered around Online & Mobile Banking Solutions with an expertise in integrating & commercializing a wide variety of other FinTech vendors. FedFis has built a reputation as the go-to Financial Institution Data provider for Financial Institutions, Investment Banking firms, and the largest banking financial research-intensive firms in the world. Dave Mayo, CEO of FedFis said, “Combining Banking & FinTech has allowed us to finally unlock the secret to ‘Open Banking’ through the use of data uncovered in the FinTegration Ecosystem ©.” “We use Machine Learning combined with old school data collection techniques, to unleash the potential of FinTech and Banking. All of our Next Level Data products are built to help FI FinTech firms introduce their products to the right FI’s.” Bobby also expressed concern for the ways in which FinTech companies enter, thrive and sell in the complex ecosystem of digital banking integration. “With the advent of FI & VC funded FinTech incubator / accelerator programs, U.S. Banks & Credit Unions should have more options when it comes to researching & selecting new digital banking vendors. However, many of these FinTech vendor entrants simply don’t have the data, integration point mapping / market product knowledge, or experience selling to FI’s, resulting in minimal exposure and brand awareness. If we can help these FinTechs thrive, Community Bankers will have more integration points, more options, more leverage and more room to lower their digital spend when it comes to vendor selection." Bobby’s new initiatives include: Product Strategy & Sales for the FinTegration Ecosystem © Suite ‘FinTech Stater Pack’ – Empowering FinTech companies with contact data for each FI’s “Digital Banking Committee,” along with FI Ratings & Scores. ‘FinTegration Focus Report’ – Giving visibility to existing vendor market share and integrations. ‘Digital Prospector’ – Online platform containing FI data elements and the renowned ‘FinTech Qualifying Report.’ About FedFis FedFis offers full financial data, and vendor data on all U.S. Banks & Credit Unions. Market leading Email Contacts for each FI in the U.S. “We are the enzyme between FinTech & Banking.” FedFis arms FI FinTech companies with actionable FI leads, Protects VC investments in FI FinTech, & helps Banks understand how to lower their digital spend and initiate new products based on a ‘FinTegration Strategy.’ ENACOMM and FedFis Forge Unique Partnership to Bring Financial Institutions First-of-its-Kind Analytics Combining Behavioral and Industry Data to Guide Investments in Customer Technologies ENACOMM’s detailed view of customer service channels usage, combined with FedFis’ industry data on technology spend, creates unprecedented opportunity for banks and credit unions to drive consumer adoption and improve ROI
TULSA, OK, May 15, 2018 (GLOBE NEWSWIRE) -- Financial institutions will now be able to maximize the power of their customer service technologies and their marketing dollars, thanks to a new partnership between ENACOMM—a FinTech company that empowers banks, credit unions and credit card companies with solutions for improving the customer experience (CX), fighting financial fraud, and increasing operational efficiency—and FedFis, creators of The FinTegration Ecosystem, comprehensive data on the U.S. Banking industry with unique insights and analytics on Financial Technology (FinTech) service providers. ENACOMM and FedFis are joining forces to leverage their extensive data on customer channel interactions and vendor integrations, in order to provide financial institutions with empirical guidance on how to better leverage and target their technology decisions. “FedFis is the only company with sweeping financial and vendor data on every bank and credit union across the U.S., and no other company collects in-depth data on customer service channels usage by bank customers and credit union members like ENACOMM,” explained ENACOMM CEO Michael Boukadakis. “Knowing what one’s customers are doing across interaction channels and what one’s peers are spending across interaction channels, and then being able to evaluate these metrics relative to each other, is an extraordinary opportunity for financial institutions.” Boukadakis added, “Not only can we provide metrics to a bank or credit union that reveal what its mobile banking application adoption is, for instance, compared to its other customer interaction channels, we can also shed light on how its technology spend for that mobile banking app compares to its industry peer group, as well as which vendors and products its peer group is using most often. This information enables a financial institution to determine whether it’s spending too little or too much on each customer service technology channel.” ENACOMM tracks customer interactions in the online banking, mobile banking, IVR, and conversational banking (via digital assistants, such as the Amazon Alexa or Google Home) channels. Beyond tallying transactions that take place in each channel, ENACOMM reports in real-time who is conducting the transactions—by group, anonymized—and which specific actions they are taking during each interaction. Offering a holistic view of the financial services industry, FedFis positions the engagement data ENACOMM provides into measurable context. The partnership allows U.S. banks and credit unions of all sizes to drill down and compare feature-to-feature customer service technology spend with other financial institutions in their peer group for the first time. “The science of big data continues to evolve, which fuels the growth of its benefits,” commented Tanner Mayo, President of FedFis. “We immediately recognized the significance of what ENACOMM is doing for its bank and credit union customers and are excited to team up in order to extend the value of our full-picture industry analytics. Only through this partnership can financial institutions sit in the cockpit and determine, with accurate instruments, what level of spend on each technology channel maximizes ROI and customer satisfaction. It’s a true competitive advantage.” To learn more about the analysis now available by layering ENACOMM’s institution-specific behavioral data with FedFis’ all-encompassing industry data, go to www.enacomm.net and www.fedfis.com. About ENACOMM ENACOMM is a leading provider of innovative, interactive and intelligent customer self-service and assisted-service solutions. A frontrunner in interactive voice response (IVR) technology, ENACOMM solutions are delivered as hosted services or on-demand through the cloud. The company’s customer base is made up of Fortune 50 to Fortune 2000 companies concentrated in the Financial/Credit Union, Prepaid/Cash Card, Health Care and Utilities industries. Utilizing web, mobile, SMS texts, email, voice and other communication technology channels, ENACOMM helps organizations provide customers with a superior, multi-modal self-service experience. ENACOMM processes more than 1,000,000 voice calls, SMS texts, emails and automated data transactions every day. Learn more about ENACOMM at www.enacomm.net. About FedFis FedFis offers full financial data and vendor data on all U.S. Banks & Credit Unions, in addition to market leading email contacts for each financial institution in the U.S. “We are the enzyme between FinTech & Banking.” FedFis arms FI FinTech companies with actionable FI leads, protects VC investments in FI FinTech, & helps banks understand how to lower their digital spend and initiate new products based on a ‘FinTegration Strategy.’ For more information about FedFis, visit www.fedfis.com. FEDFIS creates value for Texas A&M Commercial Banking students through agreement with Mays Business School
Kelli Levey Reynolds, April 2nd, 2018 FEDFIS, a financial institution data provider for financial institutions and investment banking firms, has renewed the agreement allowing access to their financial database of all United States banking institutions to Mays Business School finance department and Commercial Banking Program (CBP). Dave Mayo, CEO of FEDFIS, commented that understanding how to use data to make decisions on operations and technology choices is critical to today’s banker. Only a select few partnerships exist with FEDFIS. Dwight Garey, executive director of the CBP at Mays, said, “Members of our board like FEDFIS are deeply engaged in the governance of our program and are actively involved in all aspects of the CBP, including classroom instruction with our students. This is a tremendous and very valuable benefit to our program.” For CBP students, FEDFIS’ data has been incomparable in their coursework, in researching banking companies for bank case projects, as well as in preparation for their interviews for summer internships and permanent employment with banks. Without this database, finance and CBP students would not have convenient access to the depth of banking information provided by FEDFIS, which has been crucial to their success in the classroom and beyond. “We are honored to be selected again by Mays Business School’s Commercial Banking Program,” said Mayo. “Alongside Texas A&M University, we take great pride in helping mold tomorrow’s leaders in the banking industry.” Along with providing data, FEDFIS is also involved with supporting the community banking industry. For example, FEDFIS is partnering with ICBA and MEDICI to offer an “unconference” called the Fi FinTech Roundup in October, a conference focused on helping community banks. This conference is just one example of FEDFIS’ intense community involvement. Mayo said, “By leveraging our FI FinTech relationships, we simply asked them to help community banks and they responded immediately.” Press Release: MANAGEMENT TEAM EXPANDED TO SUPPORT GROWING DEMAND FOR BANK AND CREDIT UNION FINTECH VENDOR DATA  Austin, TX. – FedFis today announced that Tanner Mayo has joined FedFis as President. Tanner recently served as Executive Relationship Manager at Malauzai Software, and before that was Vice president of Sales at Malauzai where he was concentrated on Sales, Relationship Management & Partnerships. Tanner advised Financial Institutions on FinTech Digital strategies centered around Online & Mobile Banking Solutions.
FedFis has built a reputation as the go-to Financial Institution Data provider for Financial Institutions, Investment Banking firms, and the largest banking financial research-intensive firms in the world. Dave Mayo, CEO of FedFis said “Combining Banking & FinTech has allowed us to finally unlock the secret to ‘Open Banking’ through the use of data uncovered in The FinTegration Ecosystem©.” “We use AI and Machine Learning combined with old school data collection techniques, to unleash the potential of FinTech and Banking. All of our Next Level Data products are built to help FI FinTech firms introduce their products to the right FI’s. Tanner also expressed concern about the existing incubator programs sponsored by large Core Banking vendors and others. “It seems that neither the VC firms nor the incubator / accelerator programs offer the key to FinTech in Banking. The Integration points! With unprecedented funding levels, we should be seeing a lot more ‘New FinTech’ in U.S. Financial Institutions; the reality is we are not... The fundamental problem is a misunderstanding of integration points by emerging FinTechs and those that fund them.” Tanner’s new initiatives include: ‘FinTech Starter Pack’ - Empowering FinTech companies to find the “FinTech Contact Email” in each FI. ‘FinTegration Focus Reports’ – Giving visibility to existing vendor market share and integrations. About FedFis FedFis offers full financial data, and vendor data on all U.S. Banks & Credit Unions. Market leading Email Contacts for each FI in the U.S. “We are the enzyme between FinTech & Banking.” FedFis arms FI FinTech companies with actionable FI leads, Protects VC investments in FI FinTech, & helps Banks understand how to lower their digital spend and initiate new products based on a ‘FinTegration Strategy.’  In 2016 FedFis created the FinTegration Ecosystem© and populated it for each FI in the U.S. THE FEDFIS FINTEGRATION ECOSYSTEM© reveals the complex digital vendor mix of each Financial Institution’s:
The primary digital footprint is Core, Online, and Mobile. The payments footprint is Debit Processor and Credit Processor, for both consumer and business. Combined, you have vital information for digital integration decision making. To go a step further, FedFis blends the FI’s financial data with the digital footprint, that is the power of the FedFis FinTegration Ecosystem©. It is the very definition of data driven strategic market intelligence. The FedFis FinTegration Ecosystem© is the integration platform for an FI. It was built to help firms make tactical and strategic decisions for their organizations, bringing together FinTech and Banking. FinTegration is created to replace disruption with cooperation, through FI integration. The word “FinTegration” is catchy. It contains both “fintech” and “integration”. Much like the word “finTech” is built of “financial” and “technology”. The term itself, points to the next level of digital integration, in financial services. A top FinTech sales person said, “If I see the qualifier sheet of digital vendors, I can tell if we will win this deal. If we don’t win it, I can tell within 85% certainty, who will.” For bankers, it answers questions like, “What mobile vendor will work with my core processor?” Or “Will I have to convert my Bill Pay users if I change Online Vendors?” For FinTech companies, it shows them the FI’s they are most likely to win as customers. For FinTech to be successful, it must integrate into existing banking. Is Fiserv a FinTech firm? Yes, they would be a key part of Core, Online and Mobile, and they are also in Debit processing, Credit processing, Bill Pay and P2P. They are a major player in, and an early adopter of, the FedFis FinTegration Ecosystem©. Knowing that information for each FI has tremendous value. In fact, it is essential information for digital integration between FI’s and FinTech. Built by a team of FinTech Data Experts and FI Financial Data Experts, we understand the complexity of these relationships and the usefulness of this information. Data like this has been sought after for over 35 years and FedFis has made this available to the public for the first time. As with any new information, it is hard to see 100% of the value at first glance. Yes, there is a lot more behind it than just who the vendors are. For example, the interchange fees for Debit by vendor by asset class of institutions. Or market share of Core Processors by geography or size of institutions or number of clients. In the world of financial APIs, to bring benefits requires smart and relevant integration to be done. Digital integration is currently both the challenge and the opportunity for FinTech companies. That’s why this integration is worth its own term and “FinTegration Ecosystem” seems to be a very appropriate one. It has the potential to become a hashtag: #FinTegrationEcosystem. Dave Mayo, CEO of FedFis says, “Regardless if you sell direct or through partners, you must have visibility on the existing FI vendor ecosystem. We call it the Fintegration Ecosystem©. It is vital information that guides both FI and FinTech firms together. FinTech firms know who they compete with and which existing vendors they are compatible with, but they do not know which FI has which vendors! So, just as FI’s need a digital strategy, we need to talk more about FinTech Firm's lack of their own digital strategy. Digital Adoption starts with digital compatibility.” Copyright FIS FedFis, LLC  By : Patrick Rivenbark
Bank and credit union data is incredibly useful and almost everyone in the industry needs it. You can find potential customers, leverage it for investment banking, competitive analysis, due diligence, and monitoring the health of the industry. Finding financial institution (FI) data seems pretty straightforward – a good amount is publically reported. However, once you start digging, you will find that it’s not that easy. The dominant provider of this data is SNL Finance, which was acquired by S&P Global for $2.23 billion in 2015. As with anything in FinServ and FinTech, we like to ask ourselves: who is challenging the old guard? That’s how I got to know FedFis, an FI data provider from Austin (FinTech Cowboys). After learning more about the company, I thought you should know about them too. Typically, this type of story would involve me calling up FedFis’ CEO, Dave Mayo (someone I’ve got to know over the last year), but I didn’t do that. Instead, I spoke with Walt Boyer, who leads investment banking at Mundial Financial Group. Walt has decades of banking experience (37 years, but who’s counting?) and has worked first-hand with data from SNL and FedFis. I wanted to know why he uses FedFis. Walt and I spoke for about 45 minutes so I’ve edited our conversation for brevity and clarity to highlight why FI data and FedFis are worth your attention. The ‘80s: FI Data History The ‘80s were an interesting decade for banking (deregulation, regulation, S&L crisis, etc.). Walt sets the stage: “In the mid-‘80s, there was a lot of bank turmoil in the industry, so the regulators and others wanted to be sure that you as a bank were protecting your bank from the negative condition of another financial institution. If you are a commercial bank, you are required to monitor your bank’s exposure to other banking institutions. You’re supposed to be able to measure or gauge the intensity of that exposure, recognize if certain degradation happens, and have a plan to protect your bank. That meant that we needed more financial data on financial institutions. We were left asking ourselves: ‘How do we measure the banks? How do we recognize and compare a bank’s financial condition – their capital ratios, thresholds, and when to take action?’ It made sense and I wish we were there about 10 years earlier.” FinTech before FinTech FinTech isn’t new; it’s just different. Data/actionable information about banks was every bit as useful in the ‘80s as it is today. One of the more fascinating things about Dave Mayo, FedFis’ CEO, is that he’s been helping create the banking data ecosystem for almost four decades. Walt continues: “The introduction of technology, like personal computers, meant bank data was delivered not in hard copy and bound books but on floppy disks (and later, over the internet). Early on in this process, I met Dave because he was delivering the early versions of bank information systems. He had a unique ability to recognize the needs of his customers and deliver the data that fit my needs.” The Switch The next two decades of Walt’s career took him to Amegy Bank, Keefe, Bruyette & Woods, and Alvarez & Marsal where he leveraged SNL for financial data in his M&A, investment banking, and broker-dealer activities. After joining a startup broker-dealer, Mundial Financial Group, Walt needed financial data and naturally wanted to implement what he was familiar with (SNL) but couldn’t afford it, so he turned to Dave. “I don’t care how old you are, switching to something new after 15 years isn’t easy. At first, I had to think about it in the old system [SNL]. It would have been hard but having the FedFis team hold my hand and walk me through it helped a lot. “After we got through the initial training, we recognized that FedFis’ data was remarkably thorough – we had all the same core data. I was pleasantly surprised at how experienced FedFis are at understanding how we did things in the old system, like financial models, and moving it over to his platform getting the same result. “Also, in the cases where we couldn’t make an exact replacement, the team helped us recognize where you can get the data and find new innovative information. Plus, you save a ton of money and also sleep well at night knowing that, you know, once a year, you’re not going to get some phone call that you dread where you’re going to have to adjust your budgets for the next five years.” [Note: I was quite surprised to find out that FedFis guarantees your price will not increase.] FinTegration Ecosystem Admittedly, as soon as I heard “Fintegration Ecosystem,” my interest was piqued. The world of banking data, its uses, and how difficult it is to maintain was enlightening; however, the culmination of 30 years of financial services data coming together with FinTech data of today seemed unique. Walt put it in perspective: “Something that I have not seen in any other bank data service provider is their Fintegration Ecosystem. Yeah, it’s a mouthful. In short, they are able to provide data on financial institutions’ vendor relationships like core processors, online banking providers, and merchant services. “I wish I had that 12 years ago when I was a commercial banker doing M&A buy-side deals, because one of the things that really helps you sharpen your pencil with regard to what consideration you can pay for an acquisition is how expensive and successful will a conversion be in terms of compatibility, contractual obligations to vendors, and potential merger issues.” Been there, done that: What you can learn. FinTech, and technology in general, has an obsession with the youth and what’s new. We shouldn’t ignore the new tools at our disposal – be it mobile, blockchain, or machine learning – talking to Walt about FedFis and Dave Mayo made me think about the key to a company’s success. After almost four decades of pushing the envelope in providing banking data, Walt attributed FedFis’ success to the ethics of the people on the team. It gave him confidence that they can just “go about their business.” It was one of the highest compliments and perhaps, a sign of a company that truly understands its customers.  Dave Mayo - FedFis CEO Let's Talk Payments . By: Patrick Rivenbark
I’ve had the pleasure of getting to know Dave Mayo from FedFis over the last several months and it’s been a real pleasure to talk to him and his team. Dave knows banking, data, and technology; his experience gives him a unique voice that we think is important to share. We hope you enjoy our conversation with Dave! Patrick Rivenbark: Thanks for being with us, Dave. Give our audience a brief history lesson about you. Dave Mayo: Way back in the ‘80s, a company named Sheshunoff, became the first to do in-depth analysis of the banking industry. You may remember the bank books that every banker had in their office, that was the beginning. Everyone knows Austin today as a tech hub, but back then the first software firm in Austin was BPI, the predecessor to what we now know as QuickBooks. Sheshunoff recruited these accounting software gurus to create the first Bank Financial Data Analysis software and an industry was born. FedFis pioneered the financial data industry and I have never done anything else. We are the financial data experts that started it, all those years ago. Many of our clients have been following us for over two decades, the really smart ones. LOL. PR: What is FedFis? What does it do for your customers? DM: We are not a bank, we are not a FinTech…We are the enzyme between them. We solve problems using FI financial data and the Bank Technology Platform (the digital vendors the FI uses). Our FinTechServ division even has contact emails and merger risk scores. We have all of that for every FI. For FedFis alone, we serve 13 market segments and inside each segment there are multiple departments, all working to solve different problems. We provide a depth of information that allows them to solve their problems at a complex level. From Mergers & Acquisitions, to Credit Risk, Counterparty Risk, Investment Banking, Insurance, CPA firms, Banks, Credit Unions and Regulators, all are part of our client base. FinTech firms became such a large segment that we created a new division, with products specifically designed to help them increase their presence in FI’s. From the biggest FinTech in the world, down to incubator companies. I particularly like the little guys. They have passion. Payments is another segment that is growing rapidly and may require its own division in time. PR: You’ve been in the data business a long time. What are your thoughts on the hype around data in Financial Services? DM: So many people misunderstand the word “Data”. There is a big difference between decision driven data and big data or raw data. To reverse engineer the data, to resolve the desired problem you are trying to solve, you better have an expert or your decisions will be driven by poor analytics. Example: If you want to know who is the top mobile vendor, you do not look at who has the most, OR even who is taking the most business, trajectory will be influenced by partnerships or loss of partnerships. Sounds strange, but that is why you need an expert. In the old days, they used the term “garbage in/garbage out”. When it comes to the data business, I wish more people understood that at a granular level. PR: Follow up: Are you seeing any mistakes repeating themselves? DM: Everyday! Yes, the rush to predict how this or that will change the future and how we had better get on board. The message still sells well, because all it has to do, is sound good. Grandma warned us about that and we are still acting on it. Stop listening to the sales person tell you about the future and instead turn that problem over to a real data expert. Quality data predicts the future for you. Want to know if mobile will take over online banking, it is in the data. Here’s the deal…You don’t predict the next crash, you read it in the data. PR: Congratulations on your recent education engagement with Texas A&M. Can you explain what you’re doing in education? DM: In order to adequately manage a Financial Institution, you need a solid base of banking financial analysis skills. Banking is highly regulated and for most people it is upside-down accounting. What we measure (rates) and what we assign weight (assets) is not intuitive and must be taught. We take pride in helping shape new banking experts and it’s fun! I think I have met about 4 people in my life that really know banking. Very few really understand the digital compatibility space. So, I tell them, if you like complexity and many moving parts, you will love learning banking. PR: We think financial services education is critical to benefiting the ecosystems. What do you think FinTechs could learn about to be more successful with banks and other financial institutions? DM: This is where we confuse each other. First, we should separate FI Fintech from challenger Fintech. Typically, FI fintech firms are made up of product people. They underestimate how to get their products into banks. They know little about core integration and the costs and complexity and even less about which point solutions would be the best options to partner with. Consequently, you must understand your partners’ market relationships because their interests are not always perfectly aligned with yours. Heck, they are there to sell their own product, not yours. We see it over and over, a significant market event (someone buys or sells or changes a major relationship) could be a big deal to you, but not to your partner. You need direct market intel on your partner. When an event happens, by using data, you find the exact clients that would benefit and get that intel into the hands of your people and your partner. Now the question is, will they act on it and what is the impact to you if they don’t? These are the questions that most FinTech firms are not answering. I hear, “we don’t need data, we sell through partners”. I think to myself, you will be the next victim of a market event. PR: What about the banks – what advice would you give on how they need to get educated in FinTech? DM: Bankers, FinTech is not a catch-up tool. It is a get ahead tool. Listen and find what issues will bring in or lock-in, your target market and secure their deposits. Everything gets easier after that. Then, find products in FinTech that are more nimble than the large banks can take advantage of. Use those products to protect or grow market share. The fastest, easiest way to move money, lend money, pay money, and deposit money. That is the path. Let the fintech do the regulatory leg work. Trust, but Verify. PR: What’s next big milestone for FedFis? DM: The Technology platform of the bank is what we call the FinTegration Ecosystem. We continue to blend that with financial data and improve on ways to use it. Since that is the future, we will be focusing on more ways to help Fintech sell to FI’s. PR: In financial services, what’s the last idea you changed your mind about? DM: Open API. PR: Why? DM: Once we had the banking technology vendor platform, it became clear that the idea of a true open API was never going to happen. Maybe one other idea I am holding out on, is that they would eventually break up the big banks. The harm being done to community banking is horrific. We need more strong community banks to lead the innovation of FinTech. Fintech needs customers to grow and the FI’s are the future customers. PR: Dave, thank you so much for taking the time to be with us and we look forward to your continued leadership in the industry! |
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