Apr 19, 2016
This episode updates one of the very first ones we did in
our Barefoot Innovation series, last year. Episode Two featured the
two co-founders of Simple, Josh Reich and Shamir Karkal. A year
later, we all found ourselves back at the same conference where
we'd recorded that program. Shamir has now taken on a new role,
leading the open platform innovation of the very innovative bank
that bought Simple, BBVA. Josh, though, is still CEO of
Simple (a fact that he says tends to surprise people). So on a very
rainy afternoon in Southern California, he and I found a place
where we could duck out of the weather (you may hear the deluge in
the background), and talked about how Simple has progressed in the
year just past.
So...very few people are more fun to talk with than Josh
Reich, but I think my favorite thing about this episode might not
be the podcast, fascinating as it is, but rather something the
podcast led me to. In our conversation, Josh talks about a customer
whose dog chewed her debit card - twice! Simple sent her a customer
appreciation package with the second card, and she was so grateful
that she made a YouTube video about getting it.
Every banker in the world should watch this: customer appreciation
reaction video
I won't update the full show notes here - please look at
Episode 2 for the basics on Simple which,
again, is now part of BBVA bank. And if you missed it, be
sure to listen also to my
podcast with Manolo Sanchez, the CEO of BBVA
Compass, who I think may be the most innovative
bank president anywhere. BBVA is all-in on fintech
innovation.
Also, Josh and I did not get to a key update, which is the
big move Simple made last year to eliminate ALL its checking
account fees. I'm linking to his blog post
here explaining what they did and why.
Remember, Barefoot Innovation is a search for better solutions for
financial consumers through all kinds of innovation. BBVA and
Simple are making this search in a great many interesting
ways.
So enjoy hearing Josh's insights, ranging from how to succeed
when a big banks buys a small innovator, to the make-or-break power
of a bank's culture, to the incredible efficiencies of growing a
bank without branches - he shares some numbers -- to his advice for
regulators.
And watch for fantastic episodes coming up: Oportun CEO Raul
Vazquez; Betterment CEO Jon Stein; two of the country's top
compliance officers, together; and Blythe Masters of Digital Asset
Holdings - to name a few.
Regulation Innovation Video Series: Briefing One - The Five Tech Trends Driving Financial Transformation
The Five Tech Trends - the latest video in the Regulation Innovation Video series.
Meanwhile be sure to sign up for our new video series,
Regulation Innovation -
Thriving on Disruption.
These are short briefings - 10 to 15 minutes each - designed
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address them.
Since fintech is far more about "tech" than "fin," we're
starting the series with The Five Tech trends transforming
finance.
Plus we have a lighthearted little extra, straight from my
own kitchen, on how I was inspired to some thoughts about
innovation by a very unusual gadget.
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