Currencycloud’s Payments Innovation podcast is about 3 years old, and we couldn’t be prouder of all the conversations we’ve had about new business perspectives on the global digital economy.
Today, we’re introducing a new podcast host who will pioneer a Payments Innovation series focused on our current clients and how they’re growing and scaling.
We’re excited to highlight our newest podcast host Scott Ernenwein, North America Account Manager: Fintech and Banking at Currencycloud.
In this introductory episode, you’ll hear about:
- Scott’s background in banking
- His insights into current customer transformations
- Challenges facing customers at scale
- His vision for the client-focused series
“Fintech was simply changing the way that banks operate in automating everything they do.” — Scott Ernenwein
Scott began his career at trading desks at JPMorgan, where he learned about banking, sales, and operations. Fintech permeated the atmosphere.
No matter which aspect of banking is your focus, you’re dealing with fintech every day. “Fintech was simply changing the way that banks operate in automating everything they do and transforming it,” Scott said.
When he considered his future career, he knew fintech was the most exciting place for him to be. He’s been at Currencycloud for about a year and a half, and he’s been crushing it.
“One of the biggest areas of growth that we’ve seen in the last year has been these banking as a service companies.” — Scott Ernenwein
What’s working and what’s not for clients
Scott manages North American accounts and has seen many different viewpoints of different customers — fintech companies, banks, and many more.
“One of the biggest areas of growth that we’ve seen in the last year has been these banking as a service companies,” Scott said.
Banking as a service has been revolutionizing how traditional community banks, which typically lag behind technology, can service small businesses
Another growth area is the globalization of payments. “These businesses that traditionally only operated in dollars domestically are now becoming international through their web-based services,” Scott reported. (For anyone who doesn’t know, FX and cross border payments are Currencycloud’s speciality.)
Regulation is probably the top issue that new Fintechs struggle with. “One of the main reasons that the fintech industry in the United States is potentially lagging behind some other countries is because the regulation is so stiff here, and there is such a barrier to entry,” Scott said.
For example, to become a regulated money services provider, you’d have to meet requirements in all 50 states as well as internationally.
One solution is for Fintechs to request sponsor banks or different partners until they can become regulated. Guiding clients through the regulation process either to find a partner or to become a sponsor is a way that Scott feels he is able to add a lot of value.
“One of the main reasons that the fintech industry in the United States is potentially lagging behind some other countries is because the regulation is so stiff here.” — Scott Ernenwein
The vision for the series
Existing hosts for Payments Innovation frame the podcast from the point of view of a new business or a client that Currencycloud doesn’t operate with.
Scott will be bringing existing clients onto the podcast to showcase their successes so that other companies that are trying to achieve similar things can learn from that.
“We have this history,” Scott said. “We’ve grown together — both Currencycloud building on the existing products and services, and then the customer doing the same thing.”
This natural relationship and rapport will yield a casual conversation focused on stories of growth and customer successes. Clients will be able to share their wins and talk about what they’re excited about in the future.
We’re excited for Scott’s series, and we hope you are, too!
Until next time!
Listening on a desktop & can’t see the links? Just search for Payments Innovation in your favorite podcast player.