The Bancorp Releases Finetics™ Studio Interview Series: “The Shift from Traditional Banking”
February 22 2016 - 8:00AM
Business Wire
Exclusive Interviews Feature Ben Katz, Ryan Caldwell, Hamed
Shahbazi, Lars Sandtorv and Pete Chiccino
The Bancorp, Inc. (NASDAQ: TBBK), today announces the release of
its next Finetics™ Studio interview series: “The Shift from
Traditional Banking” featuring Ben Katz, CEO and Founder, Card.com;
Ryan Caldwell, Founder and CEO, MX; Hamed Shahbazi, CEO, TIO
Networks; Lars Sandtorv, CEO, MeaWallet; and Pete Chiccino,
Executive Vice President and Chief Information Officer, The
Bancorp.
Filmed from the Money20/20 show floor, the exclusive videos
focus on the widespread shift away from traditional banking
solutions and products as more innovative alternative banking
providers enter the market.
“Historically, there hasn’t been a lot of choice for consumers
in terms of banking so they didn’t have a lot of power and banks
and credit unions didn’t have to cater to and worry about taking
care of consumers as a result,” said Caldwell. “But the shift we
are going to see as more entrants bring innovation to the market is
that banks are going to have to become obsessed with figuring out
how to deliver more value to their end users. And if they don’t
figure that out, their customers will just pick up and go somewhere
else.”
“There are 90,000 branches in the United States, but the top
five banks only control about 30,000 of those. So, there are 60,000
community banks that are going to have a hard time surviving, in
the same way regional booksellers have struggled with the
introduction of Amazon,” added Katz. “So, if you’re a community
bank who isn’t the best lender in your community and is just
surviving on consumer deposits, you’re toast because I can service
the customer better and for 80 percent less.”
In addition to alternative banking solutions, mobile payments
and mobile banking were a key focus of conversation in the studio,
including predictions for the future of mobile technology in
financial services.
“When you look over the history of technology change, there
hasn’t been any technology that has changed and been adopted as
quickly as mobile has and that makes the future possibilities for
mobile banking very exciting,” said Chiccino.
“I think the proliferation of mobile will play a huge role in
increasing financial inclusion and there’s a lot of literature out
there that demonstrates that the underbanked have a higher degree
of penetration in smartphones than higher income groups,” added
Shahbazi. “But I do think there is still an opportunity for service
providers to create those compelling, simple and powerful
experiences for end users in the way Apple does. And I think the
major disruptors that you’ll see pole vault in the marketplace are
going to be the ones that are able to create solutions that are
increasingly simple and easy.”
The release of these videos supports The Bancorp’s Finetics™
Studio video series, which features exclusive, one-on-one
conversations with more than 30 of the financial services
industry’s most influential and innovative executives, launched
late last year.
The interviews, conducted by Sarah Gill, senior reporter with
PaymentEye, cover topics ranging from the future of payments
innovation to regulation and fraud and will be released on The
Bancorp’s fineticsblog.com throughout early 2016.
Finetics™ Studio participants include the following
executives:
- Rene Lacerte, CEO and Founder,
Bill.com
- Talbott Roche, President, Blackhawk
Network
- Ben Katz, CEO and Founder,
Card.com
- Robert Carr, Founder, Chairman and CEO,
Heartland Payment Systems
- Brent Warrington, CEO, Hyperwallet
- Lars Sandtorv, CEO, MeaWallet
- Hamed Shahbazi, CEO, TIO Networks
- Stefan Happ, Executive Vice President,
Global Prepaid and Alternative Payments, American Express
- Janet O. Estep, CEO, NACHA—The
Electronic Payments Association
- Brad Fauss, President and CEO, Network
Branded Prepaid Card Association
- Tony Craddock, Director General,
Emerging Payments Association
- Cherian Abraham, Mobile Payments &
Commerce, Experian Plc.
- Dan Rosen, Founder and General Partner,
Commerce Ventures
- Suresh Vaghjiani, Executive Vice
President, Global Processing Services (GPS)
- Barrie VanBrackle, Partner and Payments
Specialist, Manatt, Phelps and Phillips
- Marilyn Bochicchio, CEO and Founder,
Hidden Brain
- Chris Byrd, Executive Vice
President–Healthcare Operations Officer, Evolution1
- Rahul Gupta, Group President, Billing
and Payments, Fiserv
- Julie Conroy, Research Director, Aite
Group
- Peter Read, President, Peoples Card
Services
- Kenneth M. Goins, Jr., Vice Chairman,
Brightwell Payments
- Render Dahiya, CEO, Arroweye
Solutions
- Sean Rodriguez, Faster Payments
Strategy Leader and Senior Vice President, Federal Reserve
System
- Steve Kirsch, CEO, Token
- Ryan Caldwell, Founder and CEO, MX
- Anil Aggarwal, Founder and Chairman,
Money20/20
- Pat Patel, Content Director, Money20/20
Europe
- Pawneet Abramowski, Senior Vice
President, Director AML & Sanctions Risk Management, The
Bancorp
- Jeremy Kuiper, Managing Director,
Payment Solutions, The Bancorp
- Frank Mastrangelo, Technologist in
Residence, The Bancorp
- Matt Carberry, Vice President Business
Development, Payments, The Bancorp
- Gail Ball, Executive Vice President and
Chief Operating Officer, The Bancorp
- Pete Chiccino, Executive Vice President
and Chief Information Officer, The Bancorp
- Kriya Patel, Managing Director, Payment
Solutions, Europe, The Bancorp
- Charles Crawford, Senior Vice
President, Payments Acceptance, The Bancorp
About The Bancorp
With operations in the US and Europe, The Bancorp, Inc. (NASDAQ:
TBBK) is dedicated to serving the unique needs of non-bank
financial service companies, ranging from entrepreneurial start-ups
to those on the Fortune 500. The company’s chief financial
institution, The Bancorp Bank (Member FDIC, Equal Housing Lender),
has been repeatedly recognized in the payments industry as the Top
Issuer of Prepaid Cards (US), a top merchant sponsor bank, and a
top ACH originator. Specialized lending distinctions include
National Preferred SBA Lender, a leading provider of
securities-backed lines of credit, and one of the few bank-owned
commercial leasing groups in the
nation. thebancorp.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160222005382/en/
Press:The Bancorp Finetics™ StudioSarah Nickell,
720-726-5454Communications Strategy
Groupsnickell@csg-pr.comorThe Bancorp, Inc. Investor
RelationsAndres Viroslav,
215-861-7990aviroslav@thebancorp.com
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