In a recent interview with Andrew Ross Sorkin, our CEO and Cofounder, Jacqueline Reses, shared her thoughts on the evolving landscape of banking, fintech, cryptocurrency, and regulation.
Fintech’s Evolution and Banking’s Transformation
Jackie highlighted how fintech has reshaped banking over the past decade, emphasizing that financial services now show up in consumers' pockets. Transactions have become seamless, and banks—both traditional and digital—must continuously adapt to evolving technology to stay relevant.
The Role of Crypto and Regulation
The discussion delved into cryptocurrency’s recent momentum and the expectation of regulatory frameworks to provide stability. Jackie noted that establishing a clear market structure bill for crypto and stablecoins would benefit the industry, enhancing trust and market participation. If you’d like to learn more about Crypto and Regulation, check out this recap of Erica Khalili, one of our other Cofounders and Chief Legal & Risk Officer, on the Fintech Layer Cake podcast discussing exactly that.
Are Legacy Banks at Risk?
When asked whether fintech is overtaking traditional banks, Jackie argued that banking has become increasingly digital, with nearly 90% of U.S. money already existing in digital form. Legacy banks have responded by incorporating advanced technologies, blurring the lines between fintech and traditional financial institutions. While fintech startups have driven innovation by prioritizing efficiency, scale, and superior user experiences, major banks are leveraging their resources to evolve alongside them.
Crypto’s Influence on Politics
Discussing crypto’s growing role in political funding, Jackie observed that the industry’s lobbying efforts have been bipartisan, with both Democrats and Republicans receiving support to shape favorable legislation. She underscored the need for regulatory clarity, especially given crypto’s $3 trillion market capitalization and increasing institutional involvement.
Looking Ahead
The intersection of fintech, banking, and AI will continue to evolve, driven by both technological advancements and regulatory developments.
As the fintech industry progresses, firms like Lead are playing a critical role in shaping the future of financial infrastructure, ensuring that innovation remains at the forefront while maintaining strong compliance and risk management practices.
