Wallet Max Planet Positive Podcast™
May 31, 2026 · 50 min · 12 segments
Join **Bhuva Shakti**, Founder & CEO at Wallet Max, as she speaks with investors looking to leverage inclusion and impact without compromising growth of investments. This month, Bhuva's guest is…
Bhuva ShaktiHostFor us, transforming financial systems starts with building genuinely great businesses that are solving end user problems at scale.
We want our companies to succeed on their own merits and become real market leaders.
But we also think that the most important fintech companies can do something bigger than that.
And the way we think about it is that real system change happens when a company is so successful that incumbents are forced to respond.
It also sort of fundamentally challenged the idea that banks needed to rely on punitive overdraft fees or minimum balance requirements as core revenue drivers, right? So Chime built simpler, more consumer-friendly product, but it also created real competitive pressure on incumbents, and that mattered beyond just Chime's own customer base, right? So combined with policy and regulatory shifts, we saw that the challenger bank competition really helped push a lot of incumbents to reduce or eliminate overdraft fees altogether.
And that is sort of the culmination of systems change, right? Is that you had, you built a really commercially successful company, but it also had ripple effects and changed incumbent behavior across the board.
Especially the concept of change that you mentioned, it also enhances the earlier concept you mentioned about financial well being and consumer health, right.
So in several studies, we see data either doesn't exist or broken data or incorrect data in the traditional systems, that was not letting many people to get access to the financial system, even open a bank account credit card or you know try to operate on a daily basis but chime kind of companies not only like you said broke the narrative but also forced the incumbents to be more inclusive of people and be more included in the financial system itself right so That's a great narrative.
Now, what are the most broken parts of today's financial systems that founders are still underestimating? Because when we talk about financial systems, some people call insurance very separate from the traditional banks.
So what is your thought process? And if I'm a founder, what am I underestimating?
Yeah, there are so many potential good candidate answers to this question.
And I think you're right to call out that insurance is probably an important example of a space that is sort of underappreciated in its impact on customers and on its potential for transformation.
But another sort of stressed piece of the system, maybe not the most broken, but fraud and scams actually is one of the first things that came to mind.
We've seen AI dramatically increase the speed and sophistication of financial crime.
And I think people do underestimate how systemic the problem is becoming.
For us, transforming financial systems starts with building genuinely great businesses that are solving end user problems at scale.
We want our companies to succeed on their own merits and become real market leaders.
But we also think that the most important fintech companies can do something bigger than that.
And the way we think about it is that real system change happens when a company is so successful that incumbents are forced to respond.
It also sort of fundamentally challenged the idea that banks needed to rely on punitive overdraft fees or minimum balance requirements as core revenue drivers, right? So Chime built simpler, more consumer-friendly product, but it also created real competitive pressure on incumbents, and that mattered beyond just Chime's own customer base, right? So combined with policy and regulatory shifts, we saw that the challenger bank competition really helped push a lot of incumbents to reduce or eliminate overdraft fees altogether.
And that is sort of the culmination of systems change, right? Is that you had, you built a really commercially successful company, but it also had ripple effects and changed incumbent behavior across the board.
Especially the concept of change that you mentioned, it also enhances the earlier concept you mentioned about financial well being and consumer health, right.
So in several studies, we see data either doesn't exist or broken data or incorrect data in the traditional systems, that was not letting many people to get access to the financial system, even open a bank account credit card or you know try to operate on a daily basis but chime kind of companies not only like you said broke the narrative but also forced the incumbents to be more inclusive of people and be more included in the financial system itself right so That's a great narrative.
Now, what are the most broken parts of today's financial systems that founders are still underestimating? Because when we talk about financial systems, some people call insurance very separate from the traditional banks.
So what is your thought process? And if I'm a founder, what am I underestimating?
Yeah, there are so many potential good candidate answers to this question.
And I think you're right to call out that insurance is probably an important example of a space that is sort of underappreciated in its impact on customers and on its potential for transformation.
But another sort of stressed piece of the system, maybe not the most broken, but fraud and scams actually is one of the first things that came to mind.
We've seen AI dramatically increase the speed and sophistication of financial crime.
And I think people do underestimate how systemic the problem is becoming.
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