))
Bank & Fintech Partnerships: Compliance is Key - Rafael DeLeon, SVP of Industry Engagement at NContracts
Manage episode 422459476 series 2526139
Content provided by Carey Ransom. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Carey Ransom or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
In this episode of the Operate Podcast, we dive deep into the evolution of 'Banking as a Service' (BaaS) and its complexities. My guest, Rafael DeLeon, the SVP of Industry Engagement at NContracts, shares his extensive insights on the partnership dynamics between community banks and fintech companies. We explored how these relationships started, the operational challenges they faced, and how they've matured over time. Rafael discussed the importance of trust, risk management, and regulatory compliance in these partnerships, highlighting the transition from what he calls the 'Wild West' of BaaS to a more structured environment today.
We also talked about the broader regulatory environment in the banking industry, focusing on how regulators are handling the rapid pace of change, interest rates, and macroeconomic challenges. Rafael provided his perspective on recent enforcement actions and what they signal to the industry, emphasizing the need for transparency, strong risk management systems, and strategic planning.
From there we addressed the impact of technology on smaller banks and how it can enable them to be more efficient and competitive. Rafael shared his optimistic outlook on the future of community banking, particularly how fintech partnerships and regulatory guidelines will shape the industry's landscape.
Towards the end of our conversation, Rafael reflected on his career transition from a long tenure at the OCC to his current role at Ncontracts. He discussed how his new position allows him to leverage his regulatory expertise and passion for the banking industry to foster innovation and compliance. This episode provided a comprehensive look at the current and future state of community banking, making it a must-listen for anyone interested in financial services, fintech, and regulatory affairs.
Thank you to show sponsor, BankTech Ventures.
EPISODE CHAPTER MARKERS:
00:00 Preview
00:36 Intro
00:49 Sponsor
01:21 Meet Rafael DeLeon: SVP of Industry Engagement at Ncontracts
02:27 Banking as a Service: Challenges and Evolution
05:58 Regulatory Oversight and Compliance
10:56 Risk Management in Banking Partnerships
19:46 Future of Banking and Regulatory Environment
35:36 Technology's Role in Small Banks
38:09 Bridging the Tech-Bank Language Gap
41:27 Journey to Becoming a Bank Regulator
47:20 Transition to NContracts
50:19 NContracts' Growth and Innovations
53:38 Rafael's Superpower: Connecting People
56:23 Future of Banking: AI and Payments
57:50 Regulatory Vigilance and Risk Management
59:47 Accountability in Regulatory Agencies
01:01:05 Final Thoughts and Farewell
158 episodes
Share
