Episode 87: Bridging Innovation with Compliance in the Financial Sector with Jim Brusstar of Treasury Prime
Jim Brusstar, President and Co-Founder at Treasury Prime joins Ledge in a podcast about innovation in a traditional institution. Treasury Prime aims to connect visionary FinTechs with innovative banks. It plans to do this by taking legacy technology and making it easier for developers to integrate through APIs.
Banking and finance are always at the top of any list of the most traditional industries. Their stricter regulatory policies, audit scrutiny, and sensitivity to the impact of financial transactions mean that modernization is a challenge. These waters are what Treasury Prime looks at navigating, by using the right technology with banks that are open to some form of innovation.
Brusstar aims to solve this larger business problem by helping developers connect and integrate with banks through the use of Treasury Prime´s solutions. He plans to take advantage of cloud-based platforms. Moving to the cloud presents multiple advantages since it allows FinTech to become more cost-effective. This allows smaller banks to invest in it. It also provides a better experience for customers through a product standard.
Brusstar talks about the challenges he faces regarding the difference in the culture of banks as opposed to startups. He says that being on both sides of the fence as a differentiator has given him an advantage in understanding each side. He also stresses the importance of business leaders tailoring their product to every aspect of their customers´ spectrum.
Startup founders can learn how to push innovation when faced with traditional resistance in this episode. Find great ways to understand your market and your partners to create that innovative product.
Resources mentioned:
Email - jim@treasuryprime.com
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