Welcome to another special Fintech Takes episode. 

I’m Alex Johnson, just back from four intense days at Money20/20 in Las Vegas, and here to unpack it all with me is my friend Jason Henrichs, CEO of Alloy Labs and co-host of the Breaking Banks podcast. 

In this crossover, we’re breaking down the major topics of Money20/20, 2024 edition. This year, it was all about major topics: bank-fintech partnerships, banking as a service, open banking (1033, anyone?), and, of course, AI.

First up, open banking stole the show. Just last week, the CFPB finalized the 1033 rule, igniting some serious debates. I even interviewed Director of the CFPB, Rohit Chopra, on stage, where he tackled the ongoing lawsuit from big banks trying to block the Personal Financial Data Rights Rule (AKA open banking 👋).

Meanwhile, the conversations around bank-fintech partnerships, third-party risk management, and BaaS were less dramatic and more…solutions-oriented, circling around setting standards and ensuring that smaller fintech companies have access to bank partnerships.

As for AI? Even OpenAI admitted that AI might be overhyped heading into 2025, and the industry is ready for real talk on its utility. 

Innovation may headline Money20/20, but this year’s main act? Regulators. Gone are the days when crypto and disruption headlined; in 2024, it’s all about regulatory stakes grounding the industry in today’s…reality—fancy that.

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Breaking Banks podcast: https://podcasts.apple.com/us/podcast/breaking-banks/id641357669