Whether you’re just starting a fintech app or you’re an established company with thousands of users, adding traditional banking products like checking and savings accounts, and debit cards can be a great way to expand your offerings and tap into new revenue sources.
But it can be complex for non-bank companies to offer these products: they need a way to house and insure deposits and issue cards, either by getting a bank charter or finding a partner bank; and they need modern, developer-friendly technology on top of which to build their products. And all of these components must be wrapped in an economic model that’s viable for the fintech, the bank, and the technology providers.
The good news is, there are handfuls of fintechs, banks, and technology providers forging the path ahead. Join Q2 Open’s VP of Strategic Solutions Rahm McDaniel to learn about:
• Partnering with banks versus getting a charter
• Monetizing your app through deposit accounts and debit cards
• Removing friction from onboarding, account processing, and ledgering for financial products
About presenter, Rahm McDaniel, VP of Strategic Solutions for Q2 Open:
When Rahm McDaniel first entered the financial services industry, he couldn’t understand why—despite the worldwide shift toward digital transformation—banking technology felt antiquated and lethargic. Rahm McDaniel is passionate about empowering community financial institutions with open banking strategies and products that meet and exceed always-changing customer expectations. He works with customers to fundamentally transform deposit and payment systems for the modern account holder through open technology, connecting community FIs to the fintech ecosystem in simple, creative ways to create new pathways in the customer journey. His 19 years of high-tech experience includes 12 years in various senior roles at Hewlett-Packard and as the co-founder of Ideagility.