Building a Digital Marketplace Bank: The Agility of a Fintech, Resilience of a Bank (Full Session)

Moderated by Karen Webster, CEO, PYMNTS.com, on May 25, 2022 at Javits Center, NYC as part of Fintech Nexus USA 2022.

Retail banking is one of the last industries that hasn't been fundamentally changed by the internet. Traditional banks try to keep pace with evolving consumer needs but are essentially still selling the same products and services on a legacy infrastructure that they have had for decades. On the other hand, fintechs mainly operate as flashy front ends to the traditional banking architecture without capturing real wallet share or driving true revolutionary change. Now, there's a small group of fintechs that have become banks that are powered by innovative technology infrastructures and have the power to usher in the real change that others have talked about for over a decade. In this session, Scott Sanborn, CEO of LendingClub, talks about LendingClub's customer-centric marketplace bank, the technology that powers it, and his ambition to create intelligent finance that brings to the masses the seamless personalized money management that the ultra-wealthy have but is often out of reach for everyday Americans.

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