June 10, 2024
The 2024 FinTech Disaster: What You Need To Know (AND the Fascinating History of Banking w/ Paolo Zannoni) (SB1529)
The Stacking Benjamins ShowAbout this episode
Unlocking the FinTech Disaster: What You Need to Know You might not know it, but a huge number of people have their money trapped in a recent FinTech crisis. When the middleman company Synapse went bankrupt, it froze funds in many popular FinTech apps, including Yotta, a sweepstakes app that makes saving money fun. Will Yotta and other affected FinTech companies be able to return their users' money? What does this mean for the future of FinTech? Is more legislation on the way to prevent this from happening again? While new updates are rolling in daily, we’ll break down what we know and how it impacts your finances. The Fascinating History of Banking Later in the show, we'll dive into the history of banking with our mentor for the day, Paolo Zannoni. Paolo is the deputy chairman of Prada, a historian, and the former head of operations for Goldman Sachs in Russia. He'll reveal that while today's FinTech issues might seem new, they’re part of a repeating historical pattern. Learn how modern banking originated in Pisa, the relationship between banks and credit, how minting money sped up the creation of banks, and how banks and governments have collaborated for centuries. Better Call Saul... Sehy and OG: Setting Savings Goals In our Better Call Saul... Sehy and OG segment, a Stacker mom seeks advice on helping her twenty-year-old daughter set savings goals. The young woman is great at saving but isn’t sure what to save for. We always say, "Begin with the end in mind," but what if you don't know what "the end" looks like? We’ll discuss practical steps to find and set meaningful savings goals. Plus... Don't miss our memorable back porch discussions, Doug's always-entertaining trivia, and much more! Join the Conversation For deeper dives with curated links, topics, and discussions, subscribe to our newsletter, The 201, at stackingbenjamins.com . Enjoy the Show! Learn more about your ad choices. Visit podcastchoices.com/adchoices