In this episode of "Accrued," brought to you by LoanPro, hosts Tedd Huff and Colton Pond chat with Joyce Mehlman from iLEX Consulting Group. Joyce shares her expertise in the financial services industry, focusing on the significant role that data and artificial intelligence play in finance today. They touch on the critical need for fintech companies to comply with existing regulations to succeed and the benefits of forming the right partnerships.

Joyce discusses the importance of selecting partners that offer flexibility and foster creativity rather than those who might hinder innovation. She explains that working with the right people can make or break a company's progress in fintech and banking. The conversation touches on the latest trends in lending and credit, highlighting the shift towards personalized financial services and specialized credit programs.

They also discuss the importance of fintech startups focusing on product-market fit fundraising, refining their marketing approaches, and leveraging existing tools to enhance operational efficiency and reduce costs.

They wrap up the conversation by stressing the need for continuous education and the integration of supportive partnerships to innovate and improve credit offerings effectively. This episode is a must-watch for anyone interested in the future of banking and finance.

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Key Highlights:

• "Watch Joyce Mehlman Reveal Fintech Secrets!"

  Joyce Mehlman shares how fintech companies can thrive by using current tools rather than creating new ones, saving both time and money.

• "The Real Story Behind Bank and Fintech Partnerships"

  Discover how collaborations between banks and fintech companies are crucial for success, and what makes a partnership effective.

• "Do You Know the Risks of Choosing the Wrong Tech Partner?"

  Joyce discusses the risks of selecting tech partners that might stifle creativity and how the right ones can fuel success.

• "Essential Advice for Fintech Startups!"

  Key strategies for fintech startups on focusing their resources effectively to ensure growth and sustainability.

• "Trends Shaping the Credit Industry Right Now!"

  Explore the rise of niche credit programs and why personalizing these programs to customer needs is becoming more important.

• "Joyce Mehlman Breaks Down AI’s Role in Fintech!"

  Find out how artificial intelligence is currently used in the financial sector and its growing impact.

• "How to Succeed in Fintech by Understanding Regulations"

  Joyce emphasizes the importance of staying compliant with financial regulations and how it helps in fintech success.

• "Secrets to Raising Capital and Marketing in Fintech"

  Expert tips from Joyce Mehlman on how fintech companies can boost their capital and improve their marketing tactics.

• "Future of Payments: Real-Time Transactions Explained!"

  Joyce explains how real-time payment systems are changing the way businesses and customers interact.

• "The Future of Financial Programs: What You Need to Know!"

  Insights into the development of innovative financial programs and the importance of integrating educational and partnership resources.

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Takeaways:

1️⃣ "Why Your Fintech Needs Compliance to Thrive!"

Compliance isn't just a hurdle; it's a necessity. Joyce Mehlman explains how following regulations can actually help fintechs grow and avoid legal troubles.

2️⃣ "Fintech Partnerships: The Good, The Bad, The Ugly!"

Find out what qualities make a great tech partner and which red flags could spell trouble for your fintech's future.

3️⃣ "Unlock the Secrets to Efficient Fintech Operations!"

Joyce breaks down why buying existing tools rather than building from scratch saves time and money, streamlining operations for better efficiency.

4️⃣ "Discover the Financial Trends That Matter Today!"

Dive into the discussion on how AI and open banking are influencing the current financial landscape, according to fintech expert Joyce Mehlman.

5️⃣ "Build or Buy? The Best Strategy for Fintech Tools Revealed!"

Joyce shares crucial advice on when fintechs should invest in new technology versus utilizing existing solutions, aiding strategic decision-making.

Links:

iLEX

Website: https://ilexgroup.io/

Linkedin: https://www.linkedin.com/company/ilex-consulting-group-llc/

Joyce LinkedIn:  linkedin.com/in/joycemehlman

Fintech Confidential

YouTube: https://fintechconfidential.com/watch

Podcast: https://fintechconfidential.com/listen

Notifications: https://fintechconfidential.com/access

LinkedIn: https://www.linkedin.com/company/fintechconfidential

Twitter: https://twitter.com/FTconfidential

Instagram: https://www.instagram.com/fintechconfidential

Facebook: https://www.facebook.com/fintechconfidential

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Time Stamps:

This is a Production of Diamond D3, Media

About the Guest:

Joyce Mehlman: Joyce Mehlman is a highly experienced fintech consultant and owner of iLEX Consulting Group with over 30 years of experience in the financial services industry. Having been in the fintech space for the last 16 years, Joyce has developed an in-depth understanding of the sector from both the bank's and fintech's perspectives. She has held a range of senior positions, including COO, SVP-Change Management, Director-Deposit Operations, and Head of Compliance and Operations at Douugh and Teampay, where she oversaw operations, compliance, AML, fraud, and third-party vendor management. Joyce's areas of expertise include fintech-related go-to-market support, banking operations, ACH, payments, debit card and rewards programs, private label banking, prepaid retail and insurance market, product implementation, system conversions, and risk management.

iLEX: At iLEX Consulting Group, we understand that FinTechs are filling voids in traditional banking including improving accessibility; identifying and fulfilling currently unmet customer needs; developing innovative products; and providing banking solutions for the currently underserved.

About the Hosts:

Tedd Huff is the Co-Founder of Voalyre and the President & Founder of Diamond D3, a consultancy renowned for its expertise in global payments and marketing. With over two decades of experience in FinTech, Huff has played a pivotal role in shaping the industry through his contributions to various startups and established companies, focusing on growth, innovation, process improvements, and enhancing user experience in the complexity of payments.

Colton Pond is a seasoned marketing executive with a strong fintech and financial services background. In his latest role, Colton is the CMO for LoanPro's API-first lending platform, aiming to meet the increasing market demands. His track record includes a significant tenure at Truv, where he led the marketing team to achieve a 300% growth in year-over-year revenue. Colton has also held key marketing and sales positions at MX, Lucid, and HealthEquity, demonstrating his ability to drive success and innovation within the fintech sector.

Diamond D3, Media: A media creation, management, and production company delivering engaging content globally

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