The Evolving Role of Sponsor Banks in Fintech with Visa’s Brittany Decker

About Episode 19: The Evolving Role of Sponsor Banks in Fintech with Visa’s Brittany Decker

In this special edition of the FinWise Bank podcast, EYE ON: fintech, the team reflects on the tumultuous year of 2024, discussing key themes such as the impact of consent orders, the evolving relationship between banks and fintechs, and the importance of compliance and risk management. They share insights on best practices for fintechs seeking bank partnerships and the role of technology in enhancing compliance efforts. Looking ahead to 2025, the conversation emphasizes the need for a strong foundation in compliance and the potential for innovation in the banking sector.

FinWise EYE ON: Exploring Bin Sponsorship with Brittany Decker

In this episode of the FinWise EYE ON podcast, host Sarah Grotta, Deputy Chief Fintech Officer at FinWise Bank, discusses bin sponsorship, the role of sponsor banks, and Visa’s innovations with Brittany Decker, Head of Sponsor Banks at Visa.

Brittany shares her extensive experience in the financial services and payments industry, spanning nearly 14 years, and talks about how Visa supports fintech innovation. The conversation delves into Visa’s journey in the fintech space, emphasizing the importance of prepaid programs and financial inclusion.

They explore significant technological milestones, such as Visa Direct and the Visa flexible credential, and discuss trends shaping the sponsorship bank ecosystem, focusing on innovation, regulatory changes, and new market opportunities in 2025.

Finally, the episode covers the evolving needs of small and middle-market businesses, with a spotlight on fleet management and other niche verticals.

Takeaways

• Brittany Decker has 14 years of experience in financial services.
• Visa’s journey in the fintech space began with prepaid cards.
• Prepaid cards served as a foundation for financial inclusion.
• The unbanked population has seen improvements due to fintech innovations.
• Visa is focused on payroll and early wage access solutions.
• The Visa Flexible Credential allows consumers to toggle between card types.
• Visa Direct enables near real-time fund transfers.
• The partnership with sponsor banks is crucial for Visa’s success.
• Financial inclusion remains a priority for Visa and its partners.
• The industry is looking forward to a better year with new trends. The evolution of sponsorship banking is creating better partnerships.
• Realistic expectations on timelines are crucial for innovation.
• Embedded payments are becoming a key focus for the industry.
• AI will free up resources for more strategic work.
• Small and middle market businesses present significant opportunities.
• Niche markets like medical payments are ripe for innovation.
• The shift from traditional banks to sponsorship banks is increasing.
• Collaboration with fintechs is essential for driving innovation.
• Understanding local regulations is vital for payment solutions.
• The future of payments will involve more automated and seamless experiences.

This Episode:

• Sarah Grotta – Deputy Chief Fintech Officer, FinWise Bank
• Brittany Decker – Head of Sponsor Banks, USA, VISA