A large number of fintech lenders launched in the early 2010s and some are reaching a significant scale today. It is interesting to see those that have stayed focused on lending and those that have expanded into adjacent areas of finance, offering a more full suite of banking services.
Our next guest on the Fintech One-on-One podcast is Eyal Lifshitz, the CEO and Founder of BlueVine . They began life as a lender but Eyal’s vision was always bigger than that. He sees BlueVine as providing the primary financial relationship for their small business customers, meeting all their needs in one platform.
In this podcast you will learn: The founding story of BlueVine.
How the company has evolved over the past nine years.
Why fintech lenders are best suited to be the next generation bank.
Why they view the checking account as the hub of the small business relationship.
How their bill pay product is different to most traditional banks.
How they are making access to credit invisible and instant.
Why they provide a high-interest rate (1.2% as of today) on their checking account.
What Eyal thinks about when it comes to getting a banking license.
The size of their team and where they have offices today.
His contrarian views on embedded finance.
What’s coming down the pike at BlueVine.
You can subscribe to the Fintech One on One Podcast via Apple Podcasts or Spotify . To listen to this podcast episode there is an audio player directly above or you can download the MP3 file here .
Download a PDF of the Transcription or Read it Below
Welcome to the Fintech One-on-One Podcast, Episode No. 358. This is your host, Peter Renton, Chairman and Co-Founder of LendIt Fintech.
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Before we get started, I want to talk about the 10th Annual LendIt Fintech USA event. We are so excited to be back in the financial capital of the world, New York City, in person, on May 25th and 26th. It feels like fintech is on fire right now with so much change happening and we’ll be distilling all that for you at New York’s biggest fintech event of the year. We have our best line-up of keynote speakers ever with leaders from many of the most successful fintechs and incumbent banks. This is shaping up to be our biggest event ever as sponsorship support is off the charts. You know, you need to be there so find out more and register at lendit.com
Peter Renton: Today on the show, I’m delighted to welcome Eyal Lifshitz, he is the CEO and Founder of BlueVine. Now, BlueVine is a really interesting company, they’ve been around for many years and they are one of the small business fintech leaders today. I wanted to get Eyal on, I really should have gotten him on years ago, but, anyway, better late than never as they say. We talk in-depth about the different things that small businesses need today, why they decided to expand beyond lending into small business banking, we talk about that offering, it’s got some unique features and we talk about the whole bank partnership model.Eyal gives his perspective on how he feels about maybe getting a banking license, we also talk about embedded finance. Eyal has some really interesting things to say here, a little bit contrarian as to where his views are on embedded finance and Banking-as-a-Service, in general, and he talks about what’s next for BlueVine. It was a fascinating conversation, hope you enjoy the show.Welcome to the podcast, Eyal! Eyal Lifshitz: Hello, Peter, it’s nice to be here. Peter: Okay, good to see you again. So, let’s get started by giving the listeners a little bit of background about yourself, you’ve had an interesting background, why don’t you just give us some of the highlights before BlueVine. Eyal: Well, we are providing banking to customers today. I did not start my career in banking, I started as an engineer, started my career in technology and then moved toward to the business side, worked in consulting and then my last role, before BlueVine, I worked in venture capital, I worked with Greylock Partners in Israel and Europe, I did that for three years and that’s really where I had good exposure to fintech companies. I saw a lot happening in the space, that was in 2010 to 2013 and ended up starting BlueVine while I was working there, that was eight and a half years ago. Peter: Right. So, did you grow […]
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