Cambrian Fintech with Rex Salisbury

My Fintech Newsletter for more interviews and the latest insights:↪︎ https://rexsalisbury.substack.com/In this episode, Nubank co-founder Christina shares how they built a $70B fintech giant serving 99M users—60% of Brazil's primary banking relationships. From launching Brazil's first purple credit card to surviving regulatory crises, conquering Mexico/Colombia, and now applying for a US bank charter. She reveals their low-cost playbook, customer love strategy, and why they're bullish on America.Christina: https://www.linkedin.com/in/crisjunqueira/00:00:00 - Nubank's $70B Rise, US Charter News00:03:34 - Why US? Cost Edge, Customer Demand00:07:30 - Three Misfits Quit Bank to Start Nubank00:10:16 - Capital One Lessons Shape Credit Cards00:13:58 - Purple Card Launch: Viral Pull Effect00:17:14 - Waitlist Fuels Organic Early Growth00:20:05 - 2016 Crisis: Customers Save Nubank00:23:04 - Accounts Launch: Self-Funded Destiny00:26:28 - Inclusion Stats: 80% First-Time Savers00:30:04 - Mexico 2019: Underpenetrated Market00:33:32 - IPO at 8 Months Pregnant, No Finish Line00:37:08 - US Team: Miami Hub, Tech Hires00:41:54 - Stablecoins Real: #2 in Brazil00:45:14 - AI Transforming Underwriting, Support00:48:05 - Founder Advice: Homework, No Perfect Time00:52:33 - Culture: Avoid Negativity, Hire Aligned___Rex Salisbury LinkedIn:↪︎ https://www.linkedin.com/in/rexsalisburyTwitter: https://twitter.com/rexsalisburyTikTok: https://www.tiktok.com/@rex.salisburyInstagram: https://www.instagram.com/rexsalisbury/#NubankUSExpansion #FintechDisruption #ChristinaNubank

My Fintech Newsletter for more interviews and the latest insights:↪︎ https://rexsalisbury.substack.com/In this episode, Anthropic’s Nicholas Lin explains how vertical AI agents are reshaping financial services, from building real-time investment models to automating data analysis for some of the world’s largest funds. We explore why finance was chosen as Anthropic’s first enterprise vertical, the challenges and benchmarks in deploying safe, reliable AI, and how large organizations are integrating these tools across research and operations. Nicholas Lin also shares insights on the next era of AI adoption, collaboration with global partners, and the future role of financial analysts in an agent-powered economy.Nicholas Lin.: https://www.linkedin.com/in/cxl/00:00:00 - Anthropic demos real-time AI financial analyst00:00:39 - Claude's rollout to global enterprise clients00:01:27 - Why verticalize AI models for finance00:02:36 - AI as a solution for complex industry problems00:03:46 - Tackling regulated logic and audit trails00:05:07 - Building “retrieve, analyze, create” agents00:07:11 - Outperforming on industry research benchmarks00:09:13 - Integrating AI with customer feedback loops00:10:14 - Why AI-enabled spreadsheets matter00:13:03 - Partnering with sovereign wealth funds00:15:10 - Data integration and readiness for AI00:17:13 - Changing workflows with live artifacts00:20:04 - Customizing tools for technical teams00:23:19 - Driving product development with design partners00:25:12 - Future of “full-stack” autonomous agents00:27:33 - Solving adoption and change management00:29:01 - Enterprise-wide AI from consulting to accounting00:30:53 - Most bankers still lack AI access00:32:40 - Social impact of automating analyst work00:34:31 - Favorite AI and finance tools00:36:43 - The next wave of AI advances at Anthropic___Rex Salisbury LinkedIn:↪︎ https://www.linkedin.com/in/rexsalisburyTwitter: https://twitter.com/rexsalisburyTikTok: https://www.tiktok.com/@rex.salisburyInstagram: https://www.instagram.com/rexsalisbury/

My Fintech Newsletter for more interviews and the latest insights:↪︎ https://rexsalisbury.substack.com/In this episode, I sit down with Stevie Case from Vanta, a former pro gamer turned chief revenue officer, to discuss how AI is transforming the entire go-to-market function in B2B SaaS. Stevie shares insights on building agile sales organizations, how AI supercharges human roles rather than replacing them, and the evolving expectations for sales, customer success, and RevOps teams. The conversation covers AI tool adoption, hiring for an AI-native workforce, and why go-to-market roles are among the most exciting in tech today.Stevie Case: https://www.linkedin.com/in/steviecase/00:00:00 - AI’s Impact on Go-To-Market Functions00:02:06 - Building Scalable Sales Organizations00:04:47 - Specialization and Segmentation in Sales00:06:28 - AI Supercharging Customer Success00:08:23 - Hiring and Onboarding with AI Support00:10:07 - Building AI-Driven Products with Customers00:12:08 - Selling New Products to Existing Customers00:15:02 - Early Product Adoption and Iteration00:17:25 - Operating at All Levels in Organizations00:20:01 - Creating Intense, High-Velocity Teams00:22:15 - Hiring AI-Native, Curious Builders00:25:05 - Measuring Success by Team Pride and Feedback00:26:07 - Developing Agent Platforms00:28:02 - Monetization and Business Model Evolution00:30:49 - AI-Enabled Competitive Advantages in Fintech00:32:31 - Top-Down AI Automation Demand00:34:11 - Reinforcement Learning in Fraud Detection00:38:00 - International Go-To-Market Expansion00:41:33 - Designing Global Sales Footprints00:45:04 - Resourcing RevOps and Systems Teams___Rex Salisbury LinkedIn:↪︎ https://www.linkedin.com/in/rexsalisburyTwitter: https://twitter.com/rexsalisburyTikTok: https://www.tiktok.com/@rex.salisburyInstagram: https://www.instagram.com/rexsalisbury/

My Fintech Newsletter for more interviews and the latest insights:↪︎ https://rexsalisbury.substack.com/Figure’s CEO Michael Tannenbaum shares how blockchain is transforming home equity and mortgage lending following one of the year’s biggest IPOs. Learn about Figure’s journey from a contrarian startup to market leader, real asset tokenization, and rapid loan closures. Explore how partners use their tech to save time and money, tackle standardization and audits, and navigate industry criticism. Get insights on blockchain’s future in finance, tokenized equities, and the evolving DeFi landscape.Michael Tannenbaum: https://www.linkedin.com/in/michaeltannenbaum/00:00:00 - Figure’s Massive IPO and Blockchain Vision00:00:41 - Revolutionizing Home Equity Access00:01:07 - Blockchain’s Key Benefits in Finance00:01:43 - Why Consumers Care About Housing Innovation00:02:43 - Slashing HELOC Costs and Timelines00:03:49 - Shifting from Credit Cards to Home Loans00:05:02 - Boosting Secondary Market Liquidity00:06:30 - From Proof of Concept to $10B+ Loans00:07:55 - Why Start with HELOCs as Green Field00:09:21 - Tokenizing Assets Post-2008 Lessons00:10:29 - Avoiding ICO Hype for Long-Term Build00:11:46 - Scaling with 170+ Partners00:13:14 - Launching Pure Marketplace Model00:14:32 - Evolving to First-Lien Mortgages00:15:46 - Attacking Core Mortgage Market00:17:16 - Penetrating Mass Affluent Demographics00:18:35 - How Blockchain Ensures Efficiency00:20:10 - Immutable Data Cuts Audit Needs00:21:42 - Perfecting Liens with DART Tech00:23:34 - Comparing to Unsecured Loan Markets00:25:28 - Addressing Banker Adoption Risks00:27:03 - Flywheel of Growth and Evangelists00:28:48 - Stablecoin Settlement Advantages00:30:01 - Automating Servicing and Prepayments00:31:37 - Responding to Decentralization Critics00:33:05 - Connecting Assets to DeFi Future00:34:39 - Tokenizing Equity for Cross-Collateral00:35:40 - Democratize Prime: DeFi Marketplace___Rex Salisbury LinkedIn:↪︎ https://www.linkedin.com/in/rexsalisburyTwitter: https://twitter.com/rexsalisburyTikTok: https://www.tiktok.com/@rex.salisburyInstagram: https://www.instagram.com/rexsalisbury/

My Fintech Newsletter for more interviews and the latest insights:↪︎ https://rexsalisbury.substack.com/Chaos in the global supply chain and big regulatory shifts set the stage as Ryan Petersen, founder and CEO of Flexport, explains how his team steered through COVID disruptions, rapid growth, and major pivots. Learn how Flexport tackled crises, restructured after setbacks, and built fintech products—plus candid founder lessons, B2B marketing hacks, and the realities of working with changing government policies.00:00:00 - Supply chain chaos: What’s really happening?00:01:35 - Flexport’s origin and YC journey with Paul Graham00:04:05 - The 2007 legal change that made Flexport possible00:06:16 - COVID hits: Hospitals, chaos, and pivoting to crisis aid00:09:37 - Airlifting masks & Flexport.org’s massive response00:11:07 - Post-pandemic: Scaling pains and CEO turnaround story00:13:27 - Surviving and fixing operational meltdown00:15:39 - Should startups focus or diversify? Lessons from Convoy00:17:46 - Acquisitions, exits, and core customer clarity00:21:06 - Why every company is a fintech: Flexport Capital’s story00:24:32 - Lending innovations: Maritime law, risk, and collections00:26:52 - Asset-backed lending, funding growth, and private credit00:32:05 - Stablecoins, international payments, and FX tradeoffs00:37:04 - Direct mail, toy planes, and B2B marketing ROI00:41:06 - Brand, ROI, and investing in event-based relationships00:42:19 - Policy shocks: De minimis, tariffs, and rapid pivots00:46:20 - Lobbying government: How Flexport approaches...

My Fintech Newsletter for more interviews and the latest insights:↪︎ https://rexsalisbury.substack.com/In this episode, Jack, founder of Airwallex, shares his journey—from working odd jobs in Australia to leading a company that rejected a $1.2B acquisition offer from Stripe and now generates close to $900M in annual revenue. Jack reveals how Airwallex evolved through three distinct phases—from FX infrastructure to a comprehensive business banking platform—serving 150,000 customers globally. We discuss pivotal moments with investors, rapid scaling, and the challenges of global money movement. Jack also shares candid views on stablecoins, go-to-market strategies—including major brand partnerships like McLaren F1 and Arsenal—and dives into Airwallex's ambitious AI plans that aim to revolutionize finance. Tune in to hear about bold decisions, lessons from near-bankruptcy, and what's next for one of fintech’s fastest-growing companies.Jack Zhang: linkedin.com/in/jack-zhang-0520022200:00 - Why Airwallex turned down Stripe's $1.2B offer00:37 - Jack’s journey: Odd jobs to founder01:08 - Stablecoins and global money movement: Useless or gamechanger?03:22 - Unlocking initial hypergrowth: Key customers and industries05:20 - Pivoting product: What didn’t work and why07:37 - Three phases of Airwallex’s growth08:58 - Building a layered business banking platform10:06 - From student magazines to diverse side businesses13:37 - Lessons from early failures and successes15:34 - Creating borderless financial infrastructure16:56 - Are stablecoins really practical for payments?19:18 - Scaling payments: Liquidity, costs, and geographies21:36 - Airwallex today: Revenue and growth stats22:23 - Market scope and expansion plans24:18 - The million-dollar meeting: Raising capital27:04 - Hardest fundraises and investor stories29:28 - Go-to-market strategy: Brand and partnerships33:25 - Investing in brand: The timing and payoff34:24 - Founder visibility: Why Jack speaks out now37:05 - Impact of storytelling on growth and hiring38:32 - Life outside Airwallex: Hobbies & balance38:44 - Expansion in the US: Offices and hiring plans40:13 - Airwallex Copilot: AI agents for autonomous finance41:42 - AI-powered products: The future of business ops42:22 - Major product launches: Full-stack billing for AI companies43:15 - Crossing $1B ARR: What’s next for Airwallex44:13 - Airwallex Billing: Features, rollout, and free offer___Connect with Rex on social media:LinkedIn: https://www.linkedin.com/in/rexsalisbury/Twitter: https://twitter.com/rexsalisburyTikTok: https://www.tiktok.com/@rex.salisburyInstagram: https://www.instagram.com/rexsalisbury/

In this episode, we sit down with Lex Sokolin, a fintech veteran and founder of Generative Ventures, to unpack the latest in tokenized assets, crypto infrastructure, and the future of payments. Lex shares his insights on Robinhood's controversial OpenAI token launch, the evolution of security tokens, and why fintech giants like Stripe and Coinbase are racing to build AI-native payment systems. We dive into the regulatory hurdles, the shift from old financial factories to blockchain-powered rails, and how stablecoins could enable seamless commerce for AI agents. Lex also discusses the messy realities of public vs. private markets, the power of self-custody, and his new fund focused on the machine economy.Lex Sokolin: linkedin.com/in/alexeysokolin00:00:00 - OpenAI Tokens on Robinhood: What Happened?00:00:50 - Inside Robinhood's Arbitrum-Based Platform00:01:35 - Why Security Tokens Failed in 201800:02:38 - From ICOs to Enterprise Blockchain Attempts00:03:53 - How Robinhood's Product Is Really a Derivative00:05:13 - Eurodollars & Stablecoins: Regulatory Parallels00:06:21 - Launching Meme Coins vs. Tokenized Equity00:07:21 - Why Exchanges Build Their Own Chains00:08:30 - Who Controls Trading Rights for Private Equity?00:09:48 - Public Markets: Now Just for Cashing Out?00:11:06 - Why Exclude Private Equity from Financialization?00:12:19 - Rent Control for Assets? Markets Want to Flow00:13:37 - Fintech's Shift to Crypto-Native Products00:15:15 - How Commerce Drives Payment Processor Changes00:16:36 - Stripe vs. Coinbase: Battle for AI Agent Payments00:18:11 - Web2's Original Sin: No Native Payments00:19:27 - Stablecoins as Internet-Native Dollars00:20:57 - APIs for AI Agents: Machine-Speed Transactions00:22:17 - Where Are We in the Internet Payments Journey?00:24:07 - From Bitcoin to Stablecoins: What Changed?00:26:01 - Better Dispute Resolution with 402 Protocol00:27:42 - Why Blockchain Software Is Profoundly Better00:29:02 - Custody Risks: Lessons from Lehman & Hyperinflation00:30:24 - Self-Custody as an Option, Not a Requirement00:31:40 - Inside Generative Ventures & Machine Economy___Connect with Rex on social media:LinkedIn: https://www.linkedin.com/in/rexsalisbury/Twitter: https://twitter.com/rexsalisburyTikTok: https://www.tiktok.com/@rex.salisburyInstagram: https://www.instagram.com/rexsalisbury/

In this episode, we sit down with Johnny Ayers, founder and CEO of Socure, to uncover why government fraud rates remain stubbornly high compared to the private sector—and what it will take to fix them. Johnny shares lessons from working with 17 of the nation’s 20 largest banks, state and federal agencies, and over 600 fintechs. Together, we explore the flaws in identity infrastructure, the challenges of updating records like the Death Master File, and the cultural and incentive misalignments that allow billions in fraud to persist. The conversation dives into the realities of Social Security, Medicare, Medicaid, and unemployment insurance fraud, the evolution of scams during the pandemic, and the urgent need for better data sharing, technology, and legislation. If you’re interested in the intersection of technology, policy, and the future of fraud prevention, this episode is for you.Johnny Ayers: https://www.linkedin.com/in/johnnyayers/00:00:00 - Why Is Government Fraud So Persistent?00:01:05 - Introducing Johnny Ayers & Socure’s Mission00:01:20 - The Biggest Problems at Federal Agencies00:02:15 - Death Master File: Flaws and Opportunities00:04:43 - How Big Is Government Fraud? The Numbers00:06:37 - Identity Is a State, Not Federal, Issue00:08:19 - Data Sharing Gaps & The $5 Billion Problem00:09:24 - Medicare & Medicaid: How Fraud Slips Through00:10:09 - What AI Can Do for Fraud Detection00:11:25 - SBA & PPP Loan Fraud During the Pandemic00:12:24 - Why Did COVID Relief Lose 10% to Fraud?00:14:32 - Incentive Alignment Problems in Government00:16:02 - Getting Contractors Onboard with Fraud Prevention00:17:11 - Why It’s Hard to Access Benefits You Deserve00:18:21 - What’s a “Leakage Rate” in Unemployment?00:19:04 - How Can 80% of Claims Be Improper?00:20:00 - Why State Tech Gaps Make Fraud Easy00:22:08 - Medicare Abuse vs. Classic Fraud00:23:17 - Should the Public or Private Sector Own Identity?00:24:00 - The Battle Over Digital Identity in the US00:26:05 - Which States Are Leading on Digital ID?00:27:13 - The Role of Motor Vehicle Associations00:28:39 - Why US Identity Infrastructure Is Broken00:30:33 - How the Private Sector Tackles Fraud00:33:00 - Are We Making Progress? Lessons Learned00:34:01 - Can AI and Data Fix Government Fraud?00:36:35 - Measuring Success in Fraud Reduction00:37:37 - Approving the Right People Faster00:38:09 - Final Thoughts and What’s Next___Connect with Rex on social media:LinkedIn: https://www.linkedin.com/in/rexsalisbury/Twitter: https://twitter.com/rexsalisburyTikTok: https://www.tiktok.com/@rex.salisburyInstagram: https://www.instagram.com/rexsalisbury/

In this episode, Denise Leonhard, CEO of Early Warning (the company behind Zelle), joins us to discuss her journey from American Express and PayPal to leading one of the largest real-time payment networks in the US. Denise shares how Zelle became a $1 trillion powerhouse, what makes it different from other P2P networks, and how it’s expanding into small business payments. We dive into Zelle’s unique bank-owned structure, the challenges of fraud, and the roadmap for growth—including new tools for SMBs and disbursement payments. Denise also offers candid insights on building teams, product innovation, and the future of real-time payments.Denise Leonhard: https://www.linkedin.com/in/denise-leonhard-4b93918/00:00:00 - Why Zelle’s Office is Always Full in SF00:01:34 - Denise’s Journey: From Venmo Rival to Zelle CEO00:02:57 - Early Wallets at Amex and PayPal’s Public Era00:05:05 - Leading Venmo and Taking a Break00:05:36 - Meeting Early Warning: The Banks Behind Zelle00:06:20 - How Zelle Was Born and Grew to $1 Trillion00:07:09 - Early Warning’s Mission: Fighting Fraud00:08:17 - Small Business Stories and Financial Inclusion00:09:02 - What Makes Zelle Different from Venmo?00:10:12 - Real-Time Money: Stories of Instant Relief00:11:20 - Zelle’s Biggest Days: Rent, Payday, and SMB Growth00:12:14 - How SMBs and Consumers Use Zelle Differently00:13:30 - Can Non-Bank Apps Join the Zelle Network?00:14:55 - Zelle’s Roadmap: SMB Tools, Tags, and QR Codes00:16:01 - Disbursements: The Hidden Power of Zelle00:17:43 - Tackling Fraud: Tech, Product, and Education00:19:24 - Who Owns Fraud? Banks, Consumers, and Liability00:20:53 - How Zelle’s Settlement Infrastructure Works00:21:25 - Product Roadmap: Network Growth and SMB Focus00:23:01 - Building the Team: Product, Ops, and Fraud00:24:16 - Strengthening Bank Relationships for Expansion00:25:13 - Why Zelle Builds Fraud Tools In-House00:25:19 - Hiring Across New York, SF, and Scottsdale00:26:31 - Celebrating $2 Trillion and Planning the Next Trillion00:26:41 - Advice for Fintech Founders and Operators___Connect with Rex on social media:LinkedIn: https://www.linkedin.com/in/rexsalisbury/Twitter: https://twitter.com/rexsalisburyTikTok: https://www.tiktok.com/@rex.salisburyInstagram: https://www.instagram.com/rexsalisbury/

In this episode, I sit down with René Lacerte, founder and CEO of Bill. René shares his entrepreneurial journey from growing up in a fintech family to building one of the most successful SMB financial platforms. We dive into his failed pitch to Intuit that led to his first company, why he parted ways with PayCycle to start Bill, and how he navigated the company through the Great Recession while dealing with personal loss. René also discusses his decision to go public in 2019, the strategic acquisition of Divvy, and why he believes accountability drives performance. We explore how AI is transforming financial operations and his insights on building for the underserved SMB market.René Lacerte: https://www.linkedin.com/in/renelacerte/00:00:00 - There's Nothing Like Being a Public Company00:00:31 - René's Journey: From Fintech Family to Founder00:02:08 - What Was Your Mother Doing the Night You Were Born?00:03:16 - The Dinner Table MBA: Learning Business from Family00:05:22 - From Florida to Silicon Valley: Early Tech Roots00:07:18 - The Failed Intuit Pitch That Started Everything00:09:16 - PayCycle: From Nanny Payroll to Accounting Firms00:11:14 - Why René Left PayCycle to Start Bill00:14:20 - The Great Recession: Laying Off 40% of the Team00:18:36 - Why Solo Founders Make Faster Decisions00:22:16 - How to Reach SMBs: Go Where They Trust00:24:34 - The Scale That Unlocked Bill's IPO Journey00:27:05 - Why Accountability Drives Better Performance00:31:07 - The Problem with Dual Class Share Structures00:33:22 - The Divvy Acquisition: Getting 100% of Spend Data00:38:15 - Bill vs Competition: We Started with Financial Ops00:42:10 - How AI Will Create Fortune 500 Teams for SMBs00:44:36 - Building for SMBs: Passion and Hacking Solutions___Connect with Rex on social media:LinkedIn: https://www.linkedin.com/in/rexsalisbury/Twitter: https://twitter.com/rexsalisburyTikTok: https://www.tiktok.com/@rex.salisburyInstagram: https://www.instagram.com/rexsalisbury/