Zach Perret (Plaid) & Simon Khalaf (Marqeta): New Applications in Fintech

In this conversation from 16z's Connect Fintech event, a16z General Partner Angela Strange, Plaid CEO and cofounder Zach Perret, and Marqeta CEO Simon Khalaf discuss how AI will shape the future of banking, the battle between payment rails in the U.S., and how there's still opportunity to transform the basic credit card into a fully digital product.

“In the Vault” is a new audio podcast series by the a16z Fintech team, where we sit down with the most influential figures in financial services to explore key trends impacting the industry and the pressing innovations that will shape our future.

0:00 - Intro
1:56 - GenAI's potential impact on credit modeling and fraud
4:46 - Implications of payment products becoming digital products
7:09 - Why brands will embed finance
8:33 - The card vs. pay-by-bank debate
11:01 - New infrastructure to combat fraud
12:24 - Reassessing traditional "top-of-wallet" tactics, historic business models
17:27 - Potential implications of the Visa/Mastercard antitrust suit
20:04 - Regulation around open banking and sponsor banks
24:12 - Outro

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[ChairmanHehe]

after spending enough time in crypto world this world is downright painful