Allergies

Some partnerships in financial services begin with a handshake and end with a contract dispute. Others start with a Sunday morning LinkedIn message and evolve into something that transcends the typical vendor-client relationship. The collaboration between Cross River Bank and Best Egg falls firmly into the latter category.

"When we first got into the business, we met several new companies, and some of them were like three guys in a garage," recalls Adam Goller, EVP and Head of Fintech Banking at Cross River. 

An impromptu conversation in 2013 between Best Egg's founder and Cross River's CEO would eventually grow into a partnership that has facilitated nearly $35 billion in loans and 2.5 million customers – reshaping the lives of people and communities who were previously underserved by traditional FIS and had limited access to credit.

What began as basic loan origination has evolved into sophisticated closed-loop capital market solutions, including the development of Best Egg's "BEAST" securitization platform, which uses Cross River’s CRB Securities to package assets for sale to institutional investors.

The progression reflects Cross River’s willingness and ability to help fintechs climb the rungs of product expansion as they grow: "We have so many use cases where a partner came to us for lending, and that ultimately expanded to a deposit product, a payment service, and a card product," Goller notes.

Although partners that offer point solutions can help fintechs get started, they don’t set them up for the future. The Cross River - Best Egg partnership shows how the right BaaS and bank partner helps fintechs move beyond the start up mindset with more sophisticated financial support as they mature. 

Listen to this conversation to learn about the blueprint fintechs should use to identify the right banking partners at the start and how Cross River can help fintechs look beyond isolated business cases and build long term product road maps, with the support of a large financial institution and the agility of a fintech.

How to build a partnership that can survive market disruptions ft. Cross River and Best Egg

Welcome to a special 4dFi podcast exploring the latest trends and technologies reshaping finance. I'm Zack Miller, Tearsheet's Editor in Chief.

Today, we're unpacking the rise of AI agents and their potential to transform how consumers interact with financial services. I'm joined by my partners Russell Weiss, an AI expert and startup builder, and Josh Liggett, a seasoned fintech investor. Together, we'll bring a multidimensional view to this complex space.

We'll dive into real-world examples like Capital One's Chat Concierge, which has driven a 55% boost in customer engagement by automating key tasks across thousands of auto dealer sites.

Looking ahead, we'll consider the implications for traditional banks. Will they invest billions in proprietary AI models, or cede ground to big tech and infrastructure players increasingly embedding financial services?

We don’t have all the answers but want to open up with good questions and thinking about where things are headed. 

We'll also explore how the evolution of AI agents could intersect with web3, crypto, and asset tokenization to enable digital transactions. Russell and Josh will weigh in on which players are poised to thrive in this new era of AI-powered finance.

There's a lot to cover, but one thing is clear: AI is no longer a far-off possibility for banks. It's a present-day reality redefining what's possible. Stay tuned for a thought-provoking discussion of the opportunities and challenges ahead.

Banks or Pipes: Where financial institutions go when agents take over

The GENIUS Act brings regulatory clarity to stablecoins, but Conduit CEO Kirill Gertman argues that clarity alone won't guarantee success. Banks face a choice between building their own infrastructure or becoming the pipes for others.

Kirill Gertman has watched the stablecoin industry evolve from multiple angles. He spent nearly two decades in financial services before founding Conduit in 2021, including six years in crypto and a stint as VP of product at BRD, which became Coinbase Wallet. His company grew 16x in 2024 by solving a practical problem: businesses in emerging markets were accumulating stablecoins to hedge against local currency volatility but couldn't use those balances in their day-to-day operations. Conduit now works with tier-one banks and multinational corporations, processing billions in cross-border payments. And with the GENIUS Act bringing the first comprehensive regulatory framework for stablecoins in the United States, Gertman argues the legislation's passage raises as many strategic questions as it answers—particularly for banks that have been sitting on the sidelines.

Today, we'll explore why the GENIUS Act matters, the critical difference between stablecoins and deposit tokens, what strategy banks should actually pursue, and where Gertman sees the industry heading as major players race to build vertically integrated stacks.

Why every bank now needs a stablecoin strategy (whether they like it or not)

The venture capital world has a liquidity problem. With IPOs scarce and M&A exits few and far between, investors have been stuck in positions for years, unable to return capital to their LPs or move into new opportunities. But while traditional exit doors have stayed shut, technology has opened up new ones—specifically, platforms that make it possible to create and trade Special Purpose Vehicles at scale, something that used to require armies of lawyers and fund administrators.

Today I’m joined by Nik Talreja, the CEO and co-founder of Sydecar, a platform that’s turned what used to be a manual, months-long process into something you can do in days. He started his career as a securities attorney at firms like Weil Gotshal and Cooley, where he spent his days drafting the same documents over and over for venture deals. That experience showed him that much of what venture capitalists were paying lawyers to do could be standardized and automated, which led him to found Sydecar in 2021.

In our conversation, he explains how technology is reshaping private market infrastructure, what gets automated and what still needs human expertise, and how software is changing who can participate in venture investing.

Why venture capital infrastructure is finally getting automated

Community and regional banks operate in an environment of perpetual tension. They need to grow deposits and drive lending profitability while managing operating costs that threaten to overwhelm smaller institutions. They must also prevent increasingly sophisticated fraud while delivering customer experiences that match Amazon and Netflix. And they need to do all of this while building technology foundations that won't become obsolete before the implementation is complete.

At FIS's Emerald 2025 conference in Orlando, Peter Boyer, head of banking at FIS, and Craig Focardi, principal analyst at Celent, discussed how financial institutions are navigating these competing demands. Focardi and Boyer discuss how modernization is now a continuous process of adaptation, and that the institutions most likely to succeed will focus on enabling agility rather than chasing specific technologies.

"If you really take a step back and think about regional and community banking, there's a couple headwinds or tailwinds, that are driving how banks are thinking about the market," Boyer explained. "One is deposit growth and profitability growth through lending. Every bank right now is thinking, how do I grow? What is my sweet spot in my segment? Thing two is operating costs. How do they continue to drive a more efficient bank? AI is a big topic on that particular solution. And thing three is fraud. How do you protect the banking ecosystem? You put those three together and you've got a meaningful amount of where the energy is in the market today."


How community banks are balancing urgent pressures with long-term modernization

Commercial banks are confronting a rapidly shifting landscape as private credit markets grow toward $3.5 trillion and fintech competitors accelerate their offerings with AI-powered tools. Rather than retreating, traditional institutions are doubling down on technology investments and reimagining their commercial lending strategies to compete in this new environment.

"Banks are not short-term thinkers," says Héctor Pagés, SVP and Head of Global Commercial Lending at FIS. "We're not seeing a slowdown in terms of interest or investment from our institutions, in terms of advancing and changing the ways that they're working."

The response from banks has been multifaceted, according to Pagés. Some retail-focused institutions are shifting resources toward commercial lending, while smaller commercial banks are expanding into more complex lending products. Others are adopting an "originate to distribute" model, partnering with private credit firms to spread risk while generating fee income.

This strategic evolution is happening against a backdrop of regulatory uncertainty, tariff fluctuations, and the continued expansion of non-bank lenders into territory traditionally dominated by banks.

Listen to the podcast to learn about how banks are transforming their commercial lending operations through unified technology platforms, the role of AI in automating credit decisions and underwriting processes, and why cloud infrastructure is becoming essential for global scalability. 


Banks reclaim commercial lending through technology and strategic partnerships

Financial institutions are rethinking loyalty at a critical moment. Credit card spending sits at record highs, but economic uncertainty looms. For banks aiming to stay relevant, loyalty can no longer be an afterthought – it needs to be embedded into every customer experience from the start.

At FIS's Emerald 2025 conference in Orlando, Mladen Vladic, general manager of loyalty services at FIS, sat down to discuss how the loyalty industry is evolving beyond traditional card-based rewards. His central argument: Financial institutions need to shift from chasing share of wallet to capturing share of mind first.


How FIS is helping financial institutions evolve loyalty beyond rewards

Welcome to the Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I'm Tearsheet's editor in chief, Zack Miller.

For fintechs, cracking the credit union market is notoriously difficult. It's relationship-based, insular, and requires a fundamentally different approach than banking. Many try and fail. But when done right, it opens up distribution to institutions serving over 140 million Americans. Today I'm joined by Brian Kaas, president and managing director of TruStage Ventures, the corporate VC arm of TruStage—a $5.5 billion annual revenue insurer that works with 92% of credit unions nationwide. 

Since 2016, TruStage Ventures has deployed $400 million across 50 portfolio companies and facilitated over 3,000 partnerships between credit unions and fintechs.

We first spoke with Brian in 2021 when the fund was just gaining traction. Four years later, the portfolio has matured with companies like Ethos, Current, and SmartAsset, and Brian's team has become essential connective tissue between innovative fintechs and credit union distribution. 

We'll dig into what makes credit union partnerships different, why so many fintechs struggle to break in, and why stablecoin solutions have become the number one request Brian's hearing from credit union CEOs.


How TruStage Ventures built connective tissue between fintechs and credit unions

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