The Pioneer of Fintech: How Mitch Caplan Built the First Branchless Bank and Transformed E‑Trade into a Digital Powerhouse

Mitch Caplan brings over 30 years of experience leading innovation across the financial‑services industry. He co-founded Telebanc, the first branchless bank in the U.S., and scaled it from $50 M to $5 B in assets before striking a $1.8 B sale to E‑Trade that was negotiated and announced in just nine days. The deal formally closed the following January. He then served as CEO of E‑Trade, cutting $1 B in costs, and building one of the first fully integrated online financial platforms. Caplan later served as CEO of Jefferson National, where he launched a tech‑enabled, low‑cost tax‑deferred investment platform that was ultimately acquired by Nationwide. Today, he is President of Tarsadia, a $2 B+ investment firm where he oversees strategy and investments across fintech, healthcare, technology, and real estate. Most recently, he was named interim CEO of Yieldstreet, where he also serves as Chairman of the Board. Mitch has been a 3i Member since 2023. In this episode: • How Mitch built the first branchless bank, and why it worked when regulators said it wouldn't • The story behind the $1.8 B E‑Trade deal, and how it was negotiated and announced in just nine days • Why most fintechs fail, and what Mitch looks for in companies built to last Learn more about 3i Members at 3imembers.com and follow us on LinkedIn for updates.