Oct 16, 2026 · 28 min · 8 segments
65 million Baby Boomers over the next 20 years will transfer trillions of dollars ( some estimate $124 Trillion) to their heirs. There has to be a safer, more orderly and efficient way to effect such…
Martha UnderwoodGuest
Jim HerlihyHost
And of course, folks who are in their 20s, maybe early 30s, do they, again, we continue to bank with one of the big old banks around town.
We're not very strong when it comes to electronic banking, but we bank with a big old-fashioned bank.
Number one, what are their expectations of a fintech bank? And number two, what are the suite of products that the fintech banks have to meet the needs of these young folks, number one? And number two, what are they doing to position themselves to take advantage of this gigantic wall of money and assets, which are in the process of transferring to the folks who are in their 20s and 30s today?
So the fintechs are moving in and they're going after the banking licenses, right? They realize deposits are the name of the
Now that they're going after the deposits through the banking license, now they're worried, which is driving traffic to us, to say we need to know who that next generation is.
And the reason why these fintechs can do that is they started with digital conveniences.
They made it easy for the 20-year-olds and the 30-year-olds to see their money, to move their money, to withdraw their money.
And the banks just didn't keep up from a digital perspective, right? But the other thing is to be fair to the banks is the banks are secure.
You have regulatory and compliance and legal rules for a reason because they have to keep your money secure.
The fintechs came in to say, we're going to come in with speed and convenience.
And I asked someone the other day, like, when did you trust Venmo or Cash App? You trusted them when it worked, right? And then when it doesn't work or you have a challenge, then that's when you're stuck.
And that's the difference between a bank and a fintech and where the banks can really lean in on that institutional trust that most people have of them because I can call a call center.
I can call them and ask them, what happened to this money? they can trace it, I can submit a ticket to Venmo and cash app.
But it's sometimes you need to speak to a person because my situation may be nuanced,
And of course, folks who are in their 20s, maybe early 30s, do they, again, we continue to bank with one of the big old banks around town.
We're not very strong when it comes to electronic banking, but we bank with a big old-fashioned bank.
Number one, what are their expectations of a fintech bank? And number two, what are the suite of products that the fintech banks have to meet the needs of these young folks, number one? And number two, what are they doing to position themselves to take advantage of this gigantic wall of money and assets, which are in the process of transferring to the folks who are in their 20s and 30s today?
So the fintechs are moving in and they're going after the banking licenses, right? They realize deposits are the name of the
Now that they're going after the deposits through the banking license, now they're worried, which is driving traffic to us, to say we need to know who that next generation is.
And the reason why these fintechs can do that is they started with digital conveniences.
They made it easy for the 20-year-olds and the 30-year-olds to see their money, to move their money, to withdraw their money.
And the banks just didn't keep up from a digital perspective, right? But the other thing is to be fair to the banks is the banks are secure.
You have regulatory and compliance and legal rules for a reason because they have to keep your money secure.
The fintechs came in to say, we're going to come in with speed and convenience.
And I asked someone the other day, like, when did you trust Venmo or Cash App? You trusted them when it worked, right? And then when it doesn't work or you have a challenge, then that's when you're stuck.
And that's the difference between a bank and a fintech and where the banks can really lean in on that institutional trust that most people have of them because I can call a call center.
I can call them and ask them, what happened to this money? they can trace it, I can submit a ticket to Venmo and cash app.
But it's sometimes you need to speak to a person because my situation may be nuanced,
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