Inside the Vault - Fintech Confidential

What is Inside the Vault at Money 2020 ?

Thu, 04 Dec 2025 00:00:00 -0400

A glimpse into what you can get from the first episode of Inside the Vault the new Fintech Confidential Series.

Inside The Vault is a Fintech Confidential series for people who actually work in banking, fintech, and payments every day. It speaks to bank executives, fintech founders, product leaders, credit union leaders, sponsor banks, and the operators who sit between business, risk, and technology. The goal is simple: give you access to fintech banking moves that matter, in plain English, with enough detail that you can plug the lessons into your own work.

Each episode breaks down how banks, neo-banks, and credit unions work with fintechs to grow, stay compliant, and serve customers in real markets. You hear specific stories about product launches, pricing decisions, partnership structures, risk calls, compliance pushback, and board-level debates from people who were actually in the room. Guests walk through what got approved, what died in a committee meeting, where partnerships made real money, and where they came apart. You hear the good, the bad, the ugly, and the unfortunate, with takeaways that are likely to sharpen your next move.

The conversations go deep into core banking, embedded finance, payments, risk and compliance, and fintech partnerships without sliding into vague talking points or soft marketing. You get straight talk as operators explain what they tried, what worked, what failed, and what they would do differently if they had another shot. Some stories may suggest a fresh way to look at your roadmap, and to be fair, a few may sting a bit if you recognize your own playbook. The aim is to keep it practical and specific so you walk away with actions, not just nice phrases.

Episodes are recorded around real industry moments, including sessions at Money20/20 and conversations on stages like the Money Pot, so the content stays tied to what is actually happening in the market right now. For what it is worth, if you care about modern banking, want clear views into banks, neo-banks, credit unions, and fintech partnerships, and need candid conversations that usually stay off the record, this series is likely to be well worth your time.

Subscribe Now

If you care about modern banking, detailed breakdowns of how financial institutions work with fintechs, and partnerships that actually perform, and you want access to candid conversations that usually stay inside the vault, this series is built for you.

Subscribe now to get the first episodes as soon as they drop and stay ahead of the next wave of bank-fintech moves.

Listen on your favorite podcast platform: http://Listen.frominsidethevault.com

Watch full conversations and clips: http://watch.frominsidethevault.com

Get email recaps and future drops: http://subscribe.frominsidethevault.com

Inside the BaaS Challenge: Battle Scars, Breakthroughs, and What’s Next

Thu, 04 Dec 2025 00:00:00 -0400

This inaugural Inside the Vault session was recorded live on the Money Pot stage at Money20/20 USA 2025. Tedd sits down with confidential informant Stephen, AnaLiza from First Bank of the Lake, and Rodrigo from Piedmont Bank to talk bluntly about Banking as a Service, embedded finance, and what happens when programs break under real pressure. The tone is direct, practical, and focused on what operators and sponsor banks actually care about when they decide who to work with.

You hear why some BaaS programs never should have launched, how banks now review fintech partners with investor-style discipline, and what recent failures may signal about the next phase of sponsor bank risk. The group walks through real lessons from collapsed programs, missing funds, and weak unit economics, then ties those lessons to concrete steps you can take around funding, oversight, and unwind planning. If you care about BaaS, sponsor banks, or building a fintech that can survive a tougher market, this session is likely to shift how you prepare for your next partner meeting.

1️⃣ Pressure-test your BaaS idea Treat your concept like a risk team would, validate the use case, revenue model, and account growth with realistic numbers before you pitch a bank.

2️⃣ Use funding to build trust Show committed capital, sane burn, and a path beyond launch so a sponsor bank can see you are prepared to support customers for the long haul.

3️⃣ Plan for clean exits early Write reserves, unwind steps, and customer communication into your structure so a program failure does not turn into an emergency for the bank.

4️⃣ Align with bank operations Bring people, controls, and routines that fit how banks work so you feel like a responsible partner instead of another exception they must manage.

5️⃣ Budget past MVP to real scale Secure enough runway for product, compliance, and go-to-market through early scale, not just the first release, so you are less likely to stall when costs rise.

Links: Fintech Confidential

Youtube: https://youtube.com/@fintechconfidential

Podcast: https://fintechconfidential.com/listen

Newsletter: https://fintechconfidential.com/access

LinkedIn: https://www.linkedin.com/company/fintechconfidential X: https://x.com/FTconfidential Instagram: https://www.instagram.com/fintechconfidential Facebook: https://www.facebook.com/fintechconfidential SUPPORTERS

ABOUT AnaLiza Grandner is Executive Vice President and Chief Payments Officer at First Bank of the Lake, an internationally recognized leader in fintech banking with more than 17 years of experience. She leads the bank’s payments strategy and private-label banking efforts and has helped brands like Google Wallet, Chime, Varo, Simple, Seed, Walgreens, and Bento design and refine their products. Rodrigo Suarez is Chief Banking Officer at Piermont Bank, where he leads the bank’s high-growth client and payments businesses. He is responsible for product strategy, technology platforms, and channel delivery that support fast-moving entrepreneurial clients and keep the bank’s offering aligned with real market needs. Stephen Bishop is President of amBaaSsador, an education and advisory platform focused on embedded finance and Banking as a Service for banks and service providers. He previously held senior roles at OMB Bank building OMBX, as well as leadership positions at Jack Henry & Associates, Citi, and AT&T. Tedd Huff is the Founder and CEO of Voalyre and the creator and host of Fintech Confidential, with more than 26 years in fintech and payments advising startups and public companies on strategy, growth, and user experience. Fintech Confidential is a media platform of shows and newsletters that shares real operator stories about how money, risk, and technology products are built and scaled.

Guest

AnaLiza Grandner: https://www.linkedin.com/in/algrandner/

First Bank of the Lake: https://www.fblake.bank

Linkedin: https://www.linkedin.com/company/first-bank-of-the-lake

Rodrigo Suarez: https://www.linkedin.com/in/rodrigosuarezu/

Piermont Bank: https://www.piermontbank.com

Linkedin: https://www.linkedin.com/company/piermontbank

Hosts

Tedd Huff: https://www.linkedin.com/in/teddhuff/

Fintech Confidential: https://fintechconfidential.com

Linkedin: https://www.linkedin.com/company/fintechconfidential

Stephen Bishop: https://www.linkedin.com/in/stephenbishop1/

amBaaSsador: https://ambaassador.com

Linkedin: https://www.linkedin.com/company/bankingambaassador

Fintech Confidential

Youtube: https://youtube.com/@fintechconfidential

Podcast: https://fintechconfidential.com/listen

Newsletter: https://fintechconfidential.com/access

LinkedIn: https://www.linkedin.com/company/fintechconfidential

X: https://x.com/FTconfidential

Instagram: https://www.instagram.com/fintechconfidential

Facebook: https://www.facebook.com/fintechconfidential

Supporters

Skyflow: Data privacy vault that helps keep payment and personal data off your core systems and reduces PCI scope for your teams https://skyflowsecure.com

Under: A Tool that turns static PDF applications into fast, sign-ready flows for underwriting, onboarding, and internal approvals https://under.io/ftc

Hawk AI: Real-time transaction monitoring and payment screening that uses machine learning to reduce false positives and strengthen financial crime defenses https://gethawkai.com

Guests

AnaLiza Grandner

AnaLiza Grandner is the Chief Payments Officer at First Bank of the Lake and a widely recognized leader in fintech-focused banking with more than 17 years of experience. She leads the bank’s payments strategy and its private-label banking business, drawing on a career that spans both banks and high-growth fintechs. Her work has helped major brands such as Google Wallet, Chime, Varo, Simple, Seed, Walgreens, and Bento design, launch, and refine payments programs. Before joining First Bank of the Lake, she led Banking-as-a-Service efforts at Cross River Bank and has been a featured keynote speaker at multiple global industry events.

First Bank of the Lake

First Bank of the Lake is a nationally active SBA lender with deep expertise in government-backed small business financing. From its roots in Osage Beach, Missouri, it has grown into one of the top SBA 7(a) and 504 lenders in the country, funding thousands of loans and more than a billion dollars in capital for businesses across the United States. The bank focuses on tailored SBA solutions, strong customer relationships, and a high-touch approach that helps business owners secure the funding they need to grow.

Rodrigo Suarez

Rodrigo Suarez is the Chief Banking Officer at Piermont Bank, where he is responsible for keeping the bank ahead in modern product delivery and client service. He oversees the innovation-focused banking and payments lines of business and leads strategies that support fast-growing, entrepreneurial clients. Rodrigo also manages product development, technology applications, and channel delivery so that the bank’s offerings stay aligned with the needs of scale-ups and high-growth companies.

Piermont Bank

Piermont Bank is a tech-forward commercial bank built for startups, scale-ups, and modern mid-market businesses. The bank focuses on fast decisions, flexible structures, and banking solutions designed around the pace of high-growth companies. It combines experienced bankers with modern technology to offer tailored lending, payments, and treasury services that help clients move from early growth to larger scale without getting stuck in rigid legacy processes.

Confidential Informant

Stephen Bishop

Stephen “Steve” Bishop is the President of amBaaSsador, an education and advisory platform focused on embedded finance and Banking-as-a-Service for both financial institutions and service providers. He previously led strategic growth and new initiatives at OMB Bank as Chief Operating Officer and Chief Innovation Officer, where he also helped create and build OMBX, the bank’s embedded finance brand. His background includes senior roles at Jack Henry & Associates, Citi, and AT&T, and he holds graduate degrees in operations, finance, strategy, and information management from Washington University in St. Louis.

amBaaSsador

amBaaSsador is a strategic advisory and ecosystem platform dedicated to helping banks, fintechs, and service providers succeed in embedded finance and Banking-as-a-Service. The firm focuses on clear education, practical strategy, and curated connections, giving clients a neutral place to understand market shifts and choose a path that fits their goals. Its work spans consulting, community programs, training, events, and research, all designed to turn complex BaaS questions into practical, workable plans.

Host

Tedd Huff: Tedd Huff is the Co-Founder of Voalyre, and the President & Founder of Diamond D3, a professional services consulting firm focused on global payments and marketing. He is also a video podcast host and producer of Fintech Confidential.

Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others, focusing on growth while delivering innovation, process improvements and user experience-driven value to simplify the complexity of payments.

Diamond D3, Media: A media creation, management, and production company delivering engaging content globally

Sponsor Bank 101: Everything Fintechs Need to Know Before Signing a Contract

Tue, 17 Feb 2026 00:00:00 -0400

Banking as a service, community banks, and fintech partnerships are changing how small businesses access financial products. Tedd Huff, CEO of fintech advisory firm Voalyre and founder of Fintech Confidential, along with Stephen Bishop of amBaaSsador and Fintech Confidential, Confidential Informant, sits down with Lindsay Borgeson, President of Partner Banking at Core Bank, to unpack how a community bank in Omaha, Nebraska built a full BaaS platform from scratch without a top-five bank playbook to follow.

The BaaS space has had its share of high-profile failures. Consent orders, compliance breakdowns, and program manager implosions have made headlines for all the wrong reasons. Core Bank took a different approach. They spent time reading every consent order before writing a single line of code. They went to their regulators, both the FDIC and the state, before building anything. They presented their strategic plan, invited regulators back multiple times outside of formal exams, and built a reputation for transparency before they ever onboarded a single fintech client.

"We are not the biggest name in BaaS," Lindsay admits. "Yet, we certainly aim to be a well-known, respected name, but for the right reasons."

That mindset shaped everything about how CoreX, their BaaS brand, was built. They did not try to bolt new capabilities onto an existing tech stack with bubblegum and duct tape. When their initial technology partner did not work out, they stopped, went back to the board, and interviewed over ten vendors before selecting Core Bank as their Side core and Oscilar for transaction monitoring. They later added Cobalt Labs for AI-driven compliance workflows. Each decision was made with long-term strategic alignment in mind, not speed to market.

The compliance model at CoreX offers two paths. Fintechs can choose managed compliance, where the bank handles transaction monitoring, KYB, and KYC. Or they can run customized compliance if they have the internal muscle to own those functions themselves. Either way, the expectation is the same: compliance is not a phase, it is a constant. Lindsay puts it simply: "Compliance first. I should probably consider removing it because it's compliance always."

What makes CoreX different from other sponsor banks is the focus on who they want to serve. Their ideal customer profile centers on fintechs that support small businesses, particularly vertical SaaS platforms in industries Core Bank already understands. Construction, real estate, property management, unions, aviation, medical, and hospitality are all sectors where the bank already has deep expertise on the traditional side of the house. That knowledge transfers directly into how they evaluate fintech partnerships.

The "dinner test" came up more than once. If you would not want to sit down for a meal with a potential partner, you should not get into a contract with them. When things go wrong, and they will, the quality of the relationship determines whether both sides can work through it or walk away bitter.

For fintechs considering a community bank partnership, the advice is direct. Know what matters to you before you start talking to banks. Do not compromise on compliance or risk management just because someone promises speed or a lower price. And if a bank says they can have you live in three months and profitable in twelve, something is off. Building this correctly takes time.

For community banks thinking about entering BaaS, the message is just as clear. Do not dabble. This is not a side-of-desk project. It requires dedicated people, a separate tech stack, a documented risk appetite, and full alignment from the board down. If your executive team is not excited about it, you will not have the patience to do it right.

"It's not for the faint of heart," Lindsay says. "But it is really a great avenue for community banks to thrive."

Core Bank is now expanding into embedded lending, aiming to become a full-service partner for fintechs focused on serving the SMB market. They are hiring, growing their team, and preparing for what comes next in a regulatory environment that continues to shift.

The episode covers how to build a BaaS program that lasts, how to evaluate tech stack partners, how to structure compliance models, and what separates the banks that survive from the ones that make headlines for the wrong reasons. If you are a fintech founder looking for a sponsor bank, or a community bank executive weighing whether to enter this space, this conversation offers a grounded, practical look at what it actually takes.

Key Highlights

Silicon Prairie Is Real

Omaha, Nebraska has earned the nickname Silicon Prairie for a reason. Community banks in the Midwest are building serious fintech infrastructure without the spotlight of coastal tech hubs. The talent is there, the regulatory relationships are strong, and the results speak for themselves.

Bank Within A Bank

Building a BaaS platform means constructing an entirely separate operation inside your existing institution. Different people, different tech stack, different risk frameworks, different regulatory considerations. Most banks underestimate this scope until they are already in it.

BaaS In A Box Fails

Anyone promising to have you up and running in three months is selling a shortcut that will cost you later. If you are profitable in twelve months, something was built wrong. Speed to market is not the same as sustainability.

Read Every Consent Order

Before writing any code or signing any contracts, study what went wrong at other banks. Build a gap analysis. Make sure there is not a single stone you have not turned over. The failures in this space are public record for a reason.

Regulators Want Transparency First

Going to the FDIC and state regulators before building anything changed the entire trajectory. Presenting the strategic plan, inviting them back outside of exams, and maintaining open communication built trust that pays off when questions arise later.

Profitable Fast Means Problems

If someone tells you profitability comes quickly in BaaS, walk away. This is a long game that requires patience, investment, and a board that understands the timeline. Rushing leads to the same mistakes that made headlines.

Your Legacy Vendor Is Lying

When existing technology partners say they can handle BaaS requirements, verify it. Many banks learned the hard way that bubblegum and duct tape on old systems does not scale. Interview ten vendors if you have to.

Skills Do Not Transfer Automatically

The people who excel in traditional community banking may not thrive on the partner bank side. The mindset is different, the pace is different, and the technical demands are different. Evaluate talent honestly before assuming they can make the shift.

Know Your Why Before Starting

Core Bank got into BaaS to grow deposits. That clarity shaped every decision about which fintechs to partner with, which verticals to serve, and which opportunities to decline. Without a clear why, every shiny opportunity looks like the right one.

Fed Skinny Charters Loom Large

The rush to new charters and Fed master accounts is noise that could reshape the entire BaaS model. No one fully understands the impact yet, but smart banks are watching closely and preparing to pivot if the landscape shifts.

Five Key Takeaways

1️⃣ First Call Energy Tells All

If you leave a 30-minute intro call feeling drained, that is your answer. Walk away. The right partnerships should energize both sides from the first conversation.

2️⃣ Stop Overcomplicating BaaS

It is still banking. The same principles apply: risk management, customer experience, and caring about the businesses you serve. Remove the mysticism and treat it like what it is.

3️⃣ Competitors Will Help You

Banks in this space are surprisingly collaborative. They share what works and what does not because everyone benefits when the industry does it correctly. Reach out and learn from them.

4️⃣ Assess Cultural Readiness First

Before committing resources, evaluate whether your organization has the mindset to operate a partner bank. Naysayers and internal resistance will slow you down if leadership is not fully aligned.

5️⃣ Community Banks Offer Leadership Access

Fintechs get direct access to executive decision-makers at community banks. That level of high-touch partnership is harder to find at larger institutions. Do not assume smaller means less capable.

TLDR

Banking as a service does not require billions in assets or a top-five bank playbook. Tedd Huff and Stephen Bishop sit down with Lindsay Borgeson, President of Partner Banking at Core Bank, to break down how a community bank in Nebraska built a full BaaS platform from scratch. The focus is on what actually works: reading every consent order before writing code, going to regulators before building anything, and choosing tech partners based on long-term alignment instead of sales pitches. The compliance model offers two paths, managed or customized, but the expectation stays the same either way. Fintechs serving small businesses through vertical SaaS get priority. The dinner test matters more than most banks admit. Speed and price should never outweigh quality. And if someone promises profitability in twelve months, something is wrong. This is the practical breakdown for fintech founders and community bank executives who want to enter sponsor banking the right way.

Links & Resources

Guest

Lindsay Borgeson: https://www.linkedin.com/in/lindsay-lee-borgeson-162a4972/

Core Bank: https://corebank.com

LinkedIn: https://www.linkedin.com/company/core-bank

Co-Host

Stephen Bishop: https://www.linkedin.com/in/stephenbishop1/

amBaaSsador: https://ambaassador.com

Linkedin: https://www.linkedin.com/company/bankingambaassador

Host

Tedd Huff: https://www.linkedin.com/in/teddhuff/

Linkedin: https://www.linkedin.com/company/fintechconfidential

Fintech Confidential

Youtube: https://youtube.com/@fintechconfidential

Podcast: https://fintechconfidential.com/listen

Newsletter: https://fintechconfidential.com/access

LinkedIn: https://www.linkedin.com/company/fintechconfidential

X: https://x.com/FTconfidential

Instagram: https://www.instagram.com/fintechconfidential

Facebook: https://www.facebook.com/fintechconfidential

Supporters

Under io - Streamline your application and underwriting process by digitizing PDFs for digital signature - under.io/ftc

Skyflow - Zero trust data privacy vault delivered as an API; collect, secure, and tokenize personal information like card data and payment details with built-in PCI, CCPA, GDPR, and SOC 2 compliance - skyflowsecure.com

Hawk AI - Real-time payment screening, ML transaction monitoring, and dynamic customer risk rating tools designed to fight fraud and financial crime while reducing false positives - gethawkai.com

Timestamped Chapters

00:00 Episode Highlights

01:22 Under.io: AI-Powered Onboarding & Risk Verification (Sponsor)

01:52 Meet Lindsay Borgs: A FinTech Leader

03:17 Building Corex: The Journey Begins

06:28 Challenges and Lessons Learned

08:44 Strategic Partnerships and AI Integration

11:18 Compliance and Risk Management

13:07 Success Stories and Ideal Customer Profiles

14:29 Sky Flow: Building Fast and Secure (sponsor)

21:31 Navigating Regulatory Landscapes

28:36 Future of Core Bank and Corex

30:10 Closing Thoughts and Advice

33:32 Hawk.ai: AI-Driven Financial Crime Detection (Sponsor)

34:18 Disclaimer

About

GUEST

Lindsay Borgeson is President of Partner Banking at Core Bank, where she leads the CoreX banking-as-a-service platform. She has been at Core Bank for 14 years, starting as a branch manager and working her way up through Vice President of Retail Banking, Chief Deposit Officer, and now President of Partner Banking. Lindsay was recognized as a Top Contributor by Alloy Labs and has been instrumental in building CoreX from the ground up, including developing strategic partnerships with Increased Technologies, Osler, and Cobalt Labs. She holds a Bachelor of Science in Marketing from Bellevue University.

Core Bank is a full-service community bank headquartered in Omaha, Nebraska, with six Midwest locations across the Omaha and Kansas City metros. The bank aspires to be a truly remarkable company that just happens to be a bank, delivering personal, business, real estate, healthcare banking, and wealth services. Through CoreX, their banking-as-a-service brand, Core Bank offers white-labeled solutions for deposits, money movement, and card issuance to fintech partners serving small businesses and vertical SaaS platforms.

CO-HOST

Confidential Informant Stephen Bishop Stephen “Steve” Bishop is the President of amBaaSsador, an education and advisory platform focused on embedded finance and Banking-as-a-Service for both financial institutions and service providers. He previously led strategic growth and new initiatives at OMB Bank as Chief Operating Officer and Chief Innovation Officer, where he also helped create and build OMBX, the bank’s embedded finance brand. His background includes senior roles at Jack Henry & Associates, Citi, and AT&T, and he holds graduate degrees in operations, finance, strategy, and information management from Washington University in St. Louis.

HOST

Tedd Huff is a long-time fintech leader with more than 25 years of experience across payments, banking, and software. He is the Founder and CEO of Voalyre and the creator of Fintech Confidential, a network of shows and newsletters focused on how money and payments really work. Over his career he has served as a founder, board member, and executive for multiple startups and has provided strategic direction to organizations such as Global Payments, OpenEdge, Heartland Payment Systems, Nuvei, and TSYS. His work centers on growth, clear strategy, and user experience, and has included collaborations with companies like Apple, Google, Amazon, Walmart, Cabela’s, and Restoration Hardware.

Voalyre is a global fintech enablement firm that helps payments and financial technology companies grow with a mix of advisory services and hands-on execution. The firm works with banks, processors, and fintechs on issues such as go-to-market strategy, product and experience design, partner programs, and operational readiness. By combining deep industry experience with practical support, Voalyre helps clients reduce friction in their payments stack and move faster from idea to measurable results.

DD3 Media

Diamond D3 Media is a multimedia and marketing agency founded by Tedd Huff that specializes in content creation and production for the fintech and payments industry. As the production company behind Fintech Confidential, DD3 Media produces podcasts, live streams, video content, and onsite interview events that deliver engaging, educational content to global audiences. The company focuses on creating professional-grade media that simplifies complex financial technology topics through storytelling and expert interviews, helping fintech companies and financial institutions build thought leadership and connect with their audiences across YouTube, podcast platforms, and social media.