Wrestling Payments
Wrestling Payments is a podcast for professionals working at banks, credit unions, and FinTechs who are responsible for managing ACH and payment operations. In each episode, members of NEACH guide conversations to help professionals examine the challenges of modernizing payment operations. Ultimately, the stories uncovered through guest interviews and solo episodes will highlight industry trends and identify how organizations can build their payment operations for the future.
Wrestling Payments
FinTech in Open Water – Seize the Opportunity While Maintaining Control
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EPISODE SUMMARY
In this episode of Wrestling Payments, Host Elyssa Morgan talks with Dr. Angela Murphy from Pidgin about the shift from competition to collaboration between financial institutions and fintechs. They explore why partnership is a critical strategy for shaping the future of financial services and meeting rapidly evolving customer expectations.
Angela addresses the common fear among institutions of losing control. She argues that fintechs like PayPal and Venmo have already changed the landscape. Instead of being a threat, the right technology partners can help institutions provide better digital experiences and augment the customer relationships they have already built.
This conversation provides a playbook for moving forward. Angela shares how institutions can analyze their payment strategies, find opportunities in the B2B space, and leverage technology to reduce risk. For any institution looking to innovate, this episode offers a clear path to seizing opportunity while maintaining control.
GUEST-AT-A-GLANCE
💡 Name: Angela Murphy
💡 What she does: Vice President of Marketing and Solutions
💡 Company: Pidgin
💡 Noteworthy: Known as the "Payments Elsa," with deep expertise in payments innovation and AI.
💡 Where to find her: LinkedIn
KEY INSIGHTS
Financial Institutions Must Embrace Fintech Partnership to Survive
Wrestling Payments host Elyssa Morgan interviews Dr. Angela Murphy (Pidgin's VP Marketing) about why banks and credit unions must shift from competing with fintechs to collaborating with them.
Key Takeaways:
Partnership Over Competition Customer expectations for seamless digital experiences now extend to financial services. Institutions can no longer provide everything in-house. Strategic fintech partnerships enable rapid deployment of innovative solutions while maintaining competitive edge.
Control Through Collaboration Many institutions fear losing customer relationships to fintechs, but services like PayPal and Venmo already changed the landscape. Smart partnerships strengthen relationships by adding necessary digital tools under trusted institutional brands, keeping institutions as central financial advisors.
B2B Payment Opportunity While consumer payments get attention, B2B payments remain inefficient and outdated. This creates massive revenue opportunities for institutions willing to partner with specialized fintechs to solve commercial client pain points.
Practical Innovation Steps
- Analyze existing payment flows and costs
- Target top 20% of check users driving 80% of volume for digital transition
- Leverage AI partnerships to automate processes and combat fraud
Angela, known as "Payments Elsa," provides a clear roadmap for institutions to innovate while maintaining control, emphasizing that collaboration isn't surrender—it's strategic survival in rapidly evolving financial services.
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