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Purpose Driven FinTech: Daily Summaries Delivered
by Monica Millares
Welcome to Purpose Driven FinTech!I'm your host, Monica Millares - Product Leader and fellow FinTecher.These days, with the rising cost of living, financial stress among customers, loss of trust in banks, speculation of crypto, and uncertainty, we're facing unprecedented challenges. But there is hope. We as FinTechers have the power to make a positive impact.Our products, the how we do product, and our people can make a difference on customers’ financial lives - and as a result, in the quality of their lives.However, more than ever Founders, CEOs, Leadership teams and all FinTechers have a ton of pressure to build solutions that actually solve customer problems, that people want, that are differentiated And profitableYes that's you and me too!That's why I've created this podcast!I speak with FinTech CEOs, Founders, and Csuites to uncover their stories, challenges, and lessons learnt in building products with impact.You'll get to hear real-life conversations, and you’ll walk awa
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- 1 weeks ago29 min
You Can't Beat Wise on FX. So Now You Partner With Them | Samarth Bansal, General Manager at Wise Platform
If you can't beat Wise on FX, and reality is most fintechs can't; then the smarter move is to partner with them. Let’s go into the why!In this episode recorded live at Money20/20 Asia, I speak with Samarth Bansal, General Manager at Wise Platform.We go behind the scenes and I ask the questions I’ve always had hypothetical answers to. For years my mandate as a Neobank Product leader was to beat Wise, and I knew unless we were to change our business model to properly compete, the answer is we can’t.But now, FinTechs and banks can partner with Wise through Wise Platform. It’s a fascinating conversation!We cover:[01:00] How Wise approaches cost efficiency: the obsession behind the pricing model[02:30] What actually drives Wise's infrastructure advantage[04:30] Going direct into local payment rails and optimising treasury FX forecasting[08:30] How embedding Wise Platform made life easier for banks and their customers[09:30] Standard Chartered, Bank Mandiri, Morgan Stanley: who's using Wise Platform and why[17:00] How Wise prioritises market expansion, and what drives corridor decisions[19:00] Instant payment rails in APAC: PayNet, PromptPay, and what sits on top[21:00] How Wise achieves sub 20 second transfers: compliance, liquidity, and rail access[23:00] Where AI fits, and where Wise is being deliberate about deployment[25:00] Why APAC will redefine global cross border payments standards within three years👉 Follow Samarth: LinkedIn: https://www.linkedin.com/in/samarthbansal/Website: https://wise.com👉 Connect with Monica LinkedIn: https://www.linkedin.com/in/monicamillares/YouTube: https://www.youtube.com/@moni_millaresTikTok: https://www.tiktok.com/@moni_millaresProduction and marketing by Monica Millares. For inquiries about sponsoring the podcast, email Monica at fintechwithmoni@gmail.comDisclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.
- 3 weeks ago50 min
55X in 12 Months: The Clearing and Settlement Layer No One Is Rebuilding Till Now | George Davis, CEO and Co Foudner of Lorum
Most fintechs treat cross border payments as a cost centre. George Davis built a business that treats it as the $100B infrastructure opportunity nobody else is rebuilding, and grew 55X in 12 months doing it.In this episode I speak with George Davis, Co-Founder and CEO of Lorum, a global clearing and settlement infrastructure business serving financial institutions across the Middle East, Europe, Asia, and beyond. George is a serial founder who previously co-founded BVNK before leaving to rebuild the layer of the payments stack that big banks have left untouched.Key takeaways:The payment system isn't broken; banks running it are wrongly incentivisedWhy stablecoins add friction to cross border payments rather than removing themHow mid market fintechs can access wholesale treasury rates and turn FX into a profit centreWhat access to clearing infrastructure actually means for remittance, payroll, and import-export businessesWhy Lorum 55X'd in 12 months by going after the bottom of the payments stackGeorge also shares the founder mindset behind Lorum's growth: first principles thinking, radical adaptability, and hiring for obsession over experience.👉 Connect with George: LinkedIn: https://www.linkedin.com/in/georgedavis-lorum/Website: https://www.lorum.com/👉 Connect with Monica: LinkedIn: https://www.linkedin.com/in/monicamillares/YouTube: https://www.youtube.com/@moni_millaresTikTok: https://www.tiktok.com/@moni_millaresWebsite: https://www.purposedrivenfintech.com/[00:00:00] Why clearing and settlement is the real barrier to cross border payments[00:01:00] George's journey: machine learning startup to co-founding BVNK to Lorum[00:04:00] Why big banks are wrongly incentivised[00:07:00] What clearing and settlement actually means in plain English[00:10:00] Access is the real problem; not speed, not cost[00:18:00] How to turn FX and clearing into a profit centre, not a cost centre[00:26:00] Why stablecoins don’t fix cross border payments[00:35:00] The founder mindset: first principles thinking and obsession as a superpower[00:46:00] Lorum's OCC banking licence application and the road to $100B[00:49:00] Why the opportunity outside the US is bigger than inside itProduction and marketing by Monica Millares. For inquiries about sponsoring the podcast, email Monica at fintechwithmoni@gmail.comDisclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.
- May 14, 202629 min
Who is Liable in Agentic Payments? The Question the Industry Can't Answer Yet | Camilla Bullock, CEO of Emerging Payments Association Asia
AI agents are about to start spending our money, and we as a payments industry are not ready.I love this episode as it’s recorded live at Money2020’s famous MoneyPot podcast booth! Yea the fancy, cool one LOLToday I’m joined by Camilla Bullock, CEO of Emerging Payments Association Asia, and we unpack one of the most pressing questions in FinTech right now: when an AI agent transacts on your behalf, who is actually in control and who is liable when something goes wrong?Key highlights:Why "shared liability" is not an answer; and what the industry needs to define firstThe emerging KYA (Know Your Agent) framework and why banks may refuse agentic transactions without itHow real time payments in APAC already show us what agentic fraud will look like at scaleThe quantum encryption threat that less than 20% of senior payments leaders are actively trackingWhy standards interoperability is the single most important unlock for agentic commerceWe discuss: the $1 trillion agentic payments opportunity in APAC, the governance and audit trail gap, intent vs. authorization in agentic transactions, data sharing as fraud defense, the quantum threat to payments encryption, who is setting the rules (and who isn't yet), and why trust industry-wide, not just brand-level is the real battleground.👉 Connect with CamillaLinkedIn: https://www.linkedin.com/in/camillabullock/Website: https://emergingpaymentsasia.org/👉 Connect with Monica LinkedIn: https://www.linkedin.com/in/monicamillares/ YouTube: https://www.youtube.com/@moni_millares TikTok: https://www.tiktok.com/@moni_millares Website: https://www.purposedrivenfintech.com/Production and marketing by Monica Millares. For inquiries about sponsoring the podcast, email Monica at fintechwithmoni@gmail.comDisclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.
- May 11, 202620 min
Trust Is the New Security: The AI & Quantum Threat Reshaping Finance by 2029 | Maxwell Denega, Founder & CEO of Quantum Chain
The encryption protecting banks was built 50 years ago, and quantum computing is about to break it. In this pod I sit down with Maxwell, Founder and CEO of Quantum Chain, to unpack why AI and quantum computing together represent the biggest untold threat to global financial security, and what FinTech leaders need to do about it before 2029.Why 50 year old encryption is no longer sufficient to protect financial servicesHow AI is already being used to exploit smart contracts and financial infrastructure todayWhy quantum + AI together create a 24/7 attack threat no current protocol is ready forWhy trust, not technology, is the real battleground for the future of financeWe cover:[00:00:00] The $4M hack that started a mission to secure global finance[00:01:00] What is Quantum Chain and why does it exist[00:02:00] Quantum computing explained in plain English[00:03:00] Why 50 year old financial encryption is already failing[00:04:00] The real risks to banks, neobanks and financial services[00:05:00] Trust is the new security [00:08:00] AI as the elephant in the room [00:09:00] Quantum + AI: the compounding threat no one is preparing for[00:12:00] From military to banking: Max's unconventional founder background[00:15:00] How banks can become quantum safe [00:16:00] Quantum assets, QRC standards and the quantum blockchain alliance[00:17:00] What every neobank CPO and founder should be doing right now[00:18:00] Founder mindset: resilience, consistency and showing up every day👉 Follow Max: LinkedIn: https://www.linkedin.com/in/maxwell-denega-14300178/Website: https://www.quantumcha.in/👉 Connect with Monica LinkedIn: https://www.linkedin.com/in/monicamillares/ YouTube: https://www.youtube.com/@moni_millares TikTok: https://www.tiktok.com/@moni_millares Website: https://www.purposedrivenfintech.com/Production and marketing by Monica Millares. For inquiries about sponsoring the podcast, email Monica at fintechwithmoni@gmail.comDisclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.
- May 8, 20268 min
Why Neofin Killed Its Niche and Rebuilt From Scratch. And What They're Launching Next | Svitlanka Sergiichuka, CEO & Co-Founder, Neofin
Recorded live at Money20/20 Bangkok, 2026The FinTech infrastructure race isn't just about payments anymore. Neofin has spent three years rebuilding from a geo-agnostic lending tool into a full financial super app engine; and the businesses buying in aren't banks. They're retailers, telcos, and gas station networks.In this short conversation recorded live at Money2020, I catch up with Svitlanka, Co-Founder of Neofin (and 2nd time Purpose Driven FinTech podcast guest), on what's changed, who they're building for, and why transactions alone no longer create loyalty.Key takeaways: Why non FinTech businesses with large user bases are Neofin's core customerHow NeoFin sits between the retailer and the bank, and what each party coversThe product evolution from standalone lending to wallet, BNPL, and full financial ecosystemWhy 360 experiences beat pure transaction infrastructure for long-term retentionWhat's next….agentic payments and a major European launchWe cover: Three years on, what's changed at Neofin From lending infrastructure to full FinTech ecosystem Who NeoFin's customers are and why retailers are launching BNPL wallets The bank + Neofin partnership model explained Why transactions don't build loyalty; and what doesFollow for more discussions on building FinTech products with customer and commercial impact and to stay updated on the latest episodes.👉 Connect with Svitlanka: LinkedIn: https://www.linkedin.com/in/svitlanaromaniuk/Website: https://neo-fin.com/👉 Connect with Monica LinkedIn: https://www.linkedin.com/in/monicamillares/YouTube: https://www.youtube.com/@moni_millaresTikTok: https://www.tiktok.com/@moni_millaresWebsite: https://www.purposedrivenfintech.com/Production and marketing by Monica Millares. For inquiries about sponsoring the podcast, email Monica at fintechwithmoni@gmail.comDisclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.
- May 7, 202613 min
From Roaming Fees to Retention Engine: The Telecom Layer Your Neobank Is Missing | Vince Vissers Co-Founder at Fristy
Recorded live at Money20/20 Bangkok, 2026What if the next big embedded finance opportunity isn't payments or lending, but connectivity?In this live conversation from Money20/20 Bangkok I sit down with Vince, Co-Founder of Fristy, to unpack why the world's leading neobanks and super apps are quietly embedding telecom into their product stack.Fristy is building what Stripe did for payments and Wise did for FX; but for global telecom infrastructure. Already live with Grab, Uber, GXS Bank. Firsty is turning connectivity from a consumer pain point into a retention and revenue driver for FinTechs.In this episode:How Grab and Uber are using embedded connectivity to reduce revenue leakage from traveling usersThe B2B infrastructure layer that lets neobanks offer seamless global connectivity without building it themselvesWhy connectivity should be on your product roadmapThe founder mindset on failure: VInce shares how he turns setbacks into forward momentumWe cover: Telecom meets FinTech: The opportunity nobody's building for The consumer pain point: roaming fees, SIM swaps, and broken experiences The B2B problem Why neobanks should embed telecom; the Grab and Uber case study How Fristy works: one connection, every operator, local pricing globally Where to access Fristy today: Grab, GXS Bank, KBC The commercial case: retention, revenue, and user experience metrics Founder mindset: How Vince approaches failure and keeps moving forward👉 Connect with Vince & FristyLinkedIn: https://www.linkedin.com/in/vince-vissers/Website: https://www.firsty.app/👉 Connect with Monica LinkedIn: https://www.linkedin.com/in/monicamillares/YouTube: https://www.youtube.com/@moni_millaresTikTok: https://www.tiktok.com/@moni_millaresWebsite: https://www.purposedrivenfintech.com/Production and marketing by Monica Millares. For inquiries about sponsoring the podcast, email Monica at fintechwithmoni@gmail.comDisclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.
- Feb 20, 202653 min
The $443 Billion AI Lending Bias: Why 65% of Good Customers Get Declined | Carla Canino, Founder and CEO Kindlee
In this pod,Carla Canino, CEO of Kindlee AI, shares with us how AI bias is costing lenders $443 billion annually and what financial institutions can do about it.Key highlights:• 65% of loan declines are actually creditworthy customers being misclassified by biased AI models• Traditional lending models ignore 23% disabled, 20% elderly, and 22% neurodiverse populations• Small banks waste $4-5M annually on operational friction caused by bias in customer interactions• European AI Act requires independent third-party auditing of high-risk AI systems• Inclusive lending models can increase profitability while ensuring regulatory complianceWe also go personal, and Carla shares her journey from payments expert to solo founder, explaining how her experience as a disabled immigrant showed her gaps in financial services that inspired her to start a company that solves for these.She demonstrates why reducing bias isn't just about social responsibility - it's about capturing enormous untapped market opportunities while maintaining risk standards and regulatory compliance.Follow for more discussions on building FinTech products with customer and commercial impact and to stay updated on the latest episodes.Socials:👉 Follow Carla Canino:LinkedIn: https://www.linkedin.com/in/carlakerstenscanino/Website: https://www.kindlee.ai/👉 Follow Monica:LinkedIn: https://www.linkedin.com/in/monicamillares/YouTube: https://www.youtube.com/@moni_millaresTikTok: https://www.tiktok.com/@moni_millaresWe cover:[00:00:00] The $443 billion lending opportunity being missed[00:28:00] Core question: How to lend more without losing money[02:21:00] Why 65% of good customers get declined by AI[04:46:00] The invisible customers AI models ignore[08:07:00] Personal banking discrimination story[10:17:00] Who exactly are these declined customers[13:24:00] Biometric authentication bias problems[18:21:00] What Kindly AI does for financial institutions[23:43:00] Zero integration implementation approach[28:50:00] European AI Act compliance implications[33:02:00] Quantifying operational waste from bias[37:54:00] Build versus buy decision framework[45:16:00] Career pivot to solo founder journey[55:14:00] Key startup pivot moments and lessonsSEARCH QUESTIONSHow to reduce AI bias in lending decisionsWhat is the cost of algorithmic bias in financeHow to approve more customers without increasing riskEuropean AI Act compliance for banksWhy do good loan applications get rejectedHow to measure bias in credit scoringWhat causes AI lending discriminationHow to build inclusive financial productsAI bias detection platforms for fintechHow to reduce false loan declinesWhat is systematic bias in bankingHow to serve disabled customers in fintechSolo founder challenges in AI startupsHow to comply with new AI regulationsWhat is ROI of bias reduction initiativesHow to audit AI models for fairnessWhy biometric authentication fails minoritiesHow to calculate operational costs of biasWhat is Kindly AI technologyHow to retrain discriminatory AI models--Production and marketing by Monica Millares. For inquiries about sponsoring the podcast, email Monica at fintechwithmoni@gmail.comDisclaimer:This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.
- Nov 24, 20251h 11m
From 36 Cents To 32 Cents: The Growing Gender Wealth Gap No One Talks About | Kristine Beese, Founder and CEO of Untangle Money
The retirement crisis is a women's crisis - and the numbers are shocking! For every dollar men have in wealth, women have just 32 cents. Even worse? That gap is growing, not shrinking.In this episode, I speak with Kristine Beese, Founder and CEO of Untangle Money, about the alarming wealth gap affecting women and why traditional financial services aren't designed for our needs. Kristine shares powerful insights from her journey as a former stock analyst and portfolio manager to building a FinTech solution that's actually helping women take control of their financial futures.We explore the real drivers behind wealth inequality, the hidden costs women face throughout their careers (hint: it's between $500K-$1M in lost earnings in the US and Canada), and why financial stress hits women harder. Kristine also breaks down her practical "hours worked" framework that removes judgment from spending decisions and explains why robo-advisors might be your best investment ally.🔑 Key Highlights:Women have lost ground on wealth accumulation — from 36 cents to 32 cents per dollar over just one decadeWhy women plateau in earnings at age 40 while men continue earning $10K-$25K more annually for 25+ yearsThe powerful "hours worked" framework that transforms how you think about money and joyWhy every rich person has a financial plan, but middle-income earners don't — and how that needs to changeHow living to 95 (not 90) completely changes your retirement planning strategy👉 Kristine Beese LinkedIn: https://www.linkedin.com/in/kristinebeese/Website: https://www.untangle.money/👉 MonicaLinkedIn: https://www.linkedin.com/in/monicamillares/ YouTube: https://www.youtube.com/@moni_millares TikTok: https://www.tiktok.com/@moni_millaresFollow for more discussions on building FinTech products with customer and commercial impact and to stay updated on the latest episodes.We cover[00:00:00] The retirement crisis is a women's crisis[00:02:00] Shocking stats: 32 cents on the dollar wealth gap[00:06:00] Why the wealth gap keeps growing[00:11:00] Untangle Money: Building purpose-driven FinTech[00:15:00] Women's financial superpowers we don't talk about[00:18:00] The $500K-$1M career earnings gap explained[00:24:00] The longevity paradox: Why living longer is actually a superpower[00:28:00] How financial stress affects women differently[00:33:00] Why Untangle Money threw out traditional financial planning[00:39:00] The revolutionary "hours worked" spending framework[00:49:00] Managing spending with joy, not judgment[00:55:00] Why robo-advisors beat 80% of professional investors[01:00:00] Planning for 95, not 90: The retirement reality check[01:08:00] Key takeaway: Every rich person has a financial planSEARCH QUESTIONSWhy is the retirement crisis worse for women? What is the women's wealth gap in 2025? How much less do women earn than men over their careers? Why do women plateau in earnings at age 40? How to calculate what I can afford using hours worked? What is Untangle Money and how does it work? Why are women better investors than men? How much money do I need to retire at 65? What is the best robo-advisor in Canada? Should I use Wealthsimple? How to remove judgment from spending decisions? Why is financial stress worse for women? How to align spending with joy and values? What is the pink tax and how does it affect women? How to start investing with limited money? Why should financial plans go to age 95 not 90? How to create a financial plan on a budget? What can women do about the wealth gap? How to make a financial plan without thousands of dollars? Why do traditional financial services fail women?#WomenAndWealth #FinancialPlanning #WealthGap #PurposeDrivenFinTech #RetirementPlanningDisclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has
About Purpose Driven FinTech
Welcome to Purpose Driven FinTech!I'm your host, Monica Millares - Product Leader and fellow FinTecher.These days, with the rising cost of living, financial stress among customers, loss of trust in banks, speculation of crypto, and uncertainty, we're facing unprecedented challenges. But there is hope. We as FinTechers have the power to make a positive impact.Our products, the how we do product, and our people can make a difference on customers’ financial lives - and as a result, in the quality of their lives.However, more than ever Founders, CEOs, Leadership teams and all FinTechers have a ton of pressure to build solutions that actually solve customer problems, that people want, that are differentiated And profitableYes that's you and me too!That's why I've created this podcast!I speak with FinTech CEOs, Founders, and Csuites to uncover their stories, challenges, and lessons learnt in building products with impact.You'll get to hear real-life conversations, and you’ll walk awa
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