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Transcript
Joseph Drambarean:
Alright Chris, I feel like I should be telling you this. There’s apparently a risk of us having… Upset stomachs.
Chris Noe:
Yeah.
Joseph Drambarean:
Flatulence.
Chris Noe:
Rough plane ride today.
Joseph Drambarean:
Burning or stinging in the eyes, which I, you know, we should definitely not be touching our face.
Chris Noe:
Yeah, yeah.
Joseph Drambarean:
Physical responses. I expect to have some physical responses.
Chris Noe:
Did you do this yet? You didn’t even do this yet?
Joseph Drambarean:
I didn’t do this yet and we’re gonna do it together. I’ve never done this in my entire life end to end. So this is gonna be fun or awful or both.
Chris Noe:
Both, a little bit of both.
Joseph Drambarean:
Here we go.
Chris Noe:
I have a feeling that an attorney actually did mock up this document.
Joseph Drambarean:
I sure hope so.
Chris Noe:
It is highly possible. What’s the date today?
Joseph Drambarean:
Today is the 22nd.
Joseph Drambarean:
All right, well, here we go.
Chris Noe:
This is scary. No, we’re gonna be okay. What’s the worst that can happen?
Joseph Drambarean:
You never talk to me ever again?
Chris Noe:
I always enjoy catching up with you. Although I gotta tell you, think this is the first time I’ve seen you without a hat.
Joseph Drambarean:
Everybody keeps saying that.
Chris Noe:
Have we given up on the hats?
Joseph Drambarean:
No, we haven’t given up on the hats. I felt like I should probably just take it off for the sake of-
Chris Noe:
You look good.
Joseph Drambarean:
Thank you. I appreciate that. Alright. I don’t even know if I’m gonna be able look at these questions. We’re just gonna figure it out. It’s good to have you. Thank you for coming in here. This is FinTech Corner. This is a special edition of FinTech Corner.
Intro
Joseph Drambarean:
We’ve been working together for quite some time.
Chris Noe:
How long it’s been now?
Joseph Drambarean:
Well, officially, think it’s probably seven years.
Chris Noe
That’s insane.
Joseph Drambarean:
We go all the way back.
Chris Noe:
That’s insane.
Joseph Drambarean:
Probably more with Brett than myself, but I was there. I was in the background.
Chris Noe:
Yeah, yeah, yeah.
Joseph Drambarean:
I was doing the programming. I was the guy. You said, oh yeah, APIs, they’re great. And I said, they are great.
Chris Noe:
Yeah, let me show you how they work.
Joseph Drambarean:
So yeah, it’s been a long time. I think we met at Wells Fargo.
Chris Noe:
Sounds about right.
Joseph Drambarean:
And you’re now at Truist. we’re still hanging out, still having fun together. And today I thought we’d go down memory lane, talk a little bit about your background while absolutely decimating our taste buds with some hot wings.
Chris Noe:
You figured this was the best way to do that?
Joseph Drambarean:
Well, I didn’t. The crack marketing team over here felt that.
Chris Noe:
We could have done bourbon. We could have done bourbon flight.
Joseph Drambarean:
We might not have been lucid. Well, actually, we might not be lucid through this, so we’ll see. So what we have here is we have a bucket of Hattie B’s, which I’m…
Chris Noe:
Big Hattie B’s fan.
Joseph Drambarean:
First time. It was great. Apparently, it’s very popular here.
Chris Noe:
That’s right. The original hot chicken.
Hot Sauce #1: The Classic – Hot Ones Hot Sauce
Joseph Drambarean:
And we’re going to have our first set of sauces here. I don’t know. Are you going to tell us what it is, or are we just going to? Okay.
Chris Noe:
We’re starting with the classic.
Joseph Drambarean:
We need to set a baseline.
Chris Noe:
I’d like to see the bottle. All right. This does heat level two of 10.
Joseph Drambarean:
I actually like this sauce.
Chris Noe:
This seems manageable.
Joseph Drambarean:
All right. Let’s do it.
Chris Noe:
We’ll leave that there.
Joseph Drambarean:
The strategy here is dabbing. We felt like it was probably important to put us in control of the amount of sauce.
Chris Noe:
Yeah, I appreciate that. I appreciate that. It’s always got to be a respectable amount, but.
Joseph Drambarean:
We do the little things we do to try to make it a good user experience. So I think I’m just going to…
Chris Noe:
Always looking out for the customer.
Joseph Drambarean:
Well, you’re probably going be able to do multiple, multiple dips.
Chris Noe:
Yeah, we’ll do a couple dips with different sauces with that one. I think that’s half the chicken.
Joseph Drambarean:
Sorry about that.
Chris Noe:
Thank you so much. Would you like to try some?
Joseph Drambarean:
All right. So this one’s easy. And I thought we’d start us off with a softball question for the softball first hot sauce. How did you get started in banking? How far back does this story go?
Chris Noe:
Listen, I’ve been in banking my entire career. Never thought that it would, never thought about necessarily going into banking, but I started back at what was First Union, 25, 26, 27 years ago, back in 1998, actually supporting check processing on the technology side of the bank. And I thought, well, this is a gig out of college. I’ll do this for a couple of years and figure out what I really want to do. And here I am 27 years later, still working in payments, still trying to get rid of checks to some degree, but having a blast.
Joseph Drambarean:
I’ll let you take your first bite because check processing back then, what is that? Is that a…
Chris Noe:
I know you’re excited about that.
Joseph Drambarean:
Is that, is there still a bunch of humans in the back of the house scribbling those checks to make sure that they’re real or how did that work from a digital perspective back then?
Chris Noe:
That’s really good.
Joseph Drambarean:
Yeah, I thought it was great actually. I could actually have this every day. I think I’d love this.
Chris Noe:
So listen, check processing, it is certainly more automated today than it was back then, I remember. At the time you had dozens upon dozens of what were called proof operators. These were folks who would do nothing but key the amounts on checks to populate the maker line.
Joseph Drambarean:
I knew it.
Chris Noe:
Then they would run down machines called 3890s. I believe they were made by IBM. About 60 yards long. 36 different pockets of checks were run into.
Joseph Drambarean:
Holy moly.
Chris Noe:
Made back in the 50s. Made of steel. Looked like tanks. You’d have 10 or 12 of them in an individual site. was fascinating, right?
Joseph Drambarean:
That’s so interesting.
Chris Noe:
Yeah, now you got check imaging and whatnot with Check21. It’ll let you automate that to some degree. But they told me back in 98 the checks would be dead in 10 years. Not the case.
Joseph Drambarean: Will they ever die?
Chris Noe: Not the case.
Joseph Drambarean:
Let’s take another bite here.
Hot Sauce #2: Ghost Pepper Pear – Little Dick’s
Chris Noe:
What is this one? Thank you very much. Little Dicks, Big Flavor. You take your bite when I say that. Ghost pepper pear. You ever had this?
Joseph Drambarean:
This one’s actually delicious.
Chris Noe:
Is it good?
Joseph Drambarean:
It’s got a little bit of a kick, but it’s actually tasty. There’s another one that I feel like I would enjoy just having every day.
Chris Noe:
That is really good flavor. Mm-hmm.
Joseph Drambarean:
See, I think what they do with this is they kind of lull you in, make you feel like you’re a lot more talented than you are.
Chris Noe:
Listen, I the last dab is in there. I’m not looking forward to that. But I will enjoy this.
Joseph Drambarean:
Going from checks to, fast forward all the way now, you’ve been involved in a lot of innovation projects, I’m assuming. Thinking through all of the years and kind of all the roles you’ve been in, is there one that stands out as one that you’re most proud of?
Chris Noe:
So listen, I love what I’m doing now. I’ve got the pleasure of leading our product and digital organizations over in wholesale payments with Truist. But I’m also proud of a lot of what I’ve been able to do throughout my career. When I started, however long ago, I didn’t know what treasury was, I didn’t know what product management was. Like I said, I worked on the tech side of the bank. I got exposure to treasury and payments more broadly with remote deposit capture. I’m old enough to remember when you couldn’t scan a check or take a picture of a check to deposit, you had to go into a branch.
And so my technology team worked with the product team and I thought, well, product’s a cool area. You get to… still work with technology, I do consider myself a geek at heart. Could never hold a candle to you, but I do enjoy the tech side, the tech side of thing. But I love working with clients and I love working with sales. I’ve got a colleague of mine here, runs our corporate sales team. I really enjoy that side of the business and product sits right in between those two.
Listen, the cash management business, I think had been stale for a little while, almost commoditized. Some people don’t like that word, but I commoditized to some degree. We’ve seen a tremendous amount of innovation from companies like Trovata, right? Others that really have an opportunity to improve the client’s experience materially, right? Whether it’s with cash positioning, cash forecasting, faster payments, embedded banking, there’s just a tremendous amount that’s going on right now. And it’s a lot of fun to be able to work with companies that can help bring that sort of functionality to market faster for our clients we might be able to do in-house.
Joseph Drambarean: Well you sound so positive I think we need to tear you down a little bit.
Chris Noe:
Were you going tear me down?
Joseph Drambarean:
Let’s bring in the next sauce.
Hot Sauce #3: Smoked Onion – Neil’s Real Deal
Chris Noe:
This one is really good.
Joseph Drambarean:
I’m concerned by what I’m looking at here.
Chris Noe:
This looks a little thick. This is the extra chunky?
Joseph Drambarean:
This one looks a little bit more challenging.
Chris Noe:
Yes it does.
Joseph Drambarean:
Which is a funny segue.
Chris Noe:
Smoked onion.
Joseph Drambarean:
That sounds like it’s going to taste good but…
Chris Noe:
Three out of five. Smoked onion habanero. Lord. Okay.
Joseph Drambarean:
What I’m going to do is I’m going take a couple of pieces here.
Chris Noe:
Yeah that’s a good idea.
Joseph Drambarean:
So funny segue, this one’s a little bit more challenging. What would you say in your career in banking is the standout most challenging project or initiative that you are ever a part of? Checks notwithstanding.
Chris Noe:
I can’t go the easy answer on checks.
Joseph Drambarean:
So this one, I thought it might be good on first taste. Then it had a smoky aftertaste. And now it has not really that much of a burn, right?
Chris Noe:
I was wondering if maybe I missed something.
Joseph Drambarean:
Yeah, this actually might taste okay. You’re gonna have to do better than that.
Chris Noe:
No, no, don’t dare them, please. All right, most, I’m getting distracted with this lovely hot sauce. Yeah. Most challenging? So I’ve been through a number of mergers and acquisitions in my career. That always has a sense of challenge to it. The nice thing about those sort of events though is that everyone is focused on a single goal. And everybody comes together, kind of gets in the trenches and able to get some things done in a relatively short period of time. You know, I’ve had a number of projects that I’ve worked on that have been exceptionally complex.
But I don’t know that I would characterize any as like exceptionally difficult. You know, trying to change the culture, right? You know, I think about the first time we started working together, you know, oftentimes there’s very much a… a build versus buyer, build versus partner. And I always love, you know, I got a great technology, had a great technology team. My former employer, I have a great technology team now. I’d love to let them build whenever they possibly can.
But the reality is, oftentimes it can be faster to be able to bring solutions to market and working with a partner. Influencing the culture, right? And starting to really win hearts and minds around that new philosophy on how we want to go to market as an option, right? Was probably one of the more challenging things that I worked through, but still not that difficult.
Joseph Drambarean:
You know, sometimes you can have a challenging experience that is also fun. There’s no reason that they should be mutually exclusive. Actually, for me, a lot of the most challenging parts of my life were the most fun. I feel like I resonate with that. think we should get a little bit more challenging at this point with the sauces. What do you think? Should we ramp it up? Should we take a leap or should we keep going in order?
Chris Noe:
Listen, I’m game for… Are you challenging me now?
Hot Sauce #4: Los Calientes Verde – Hot Ones Hot Sauce
Joseph Drambarean:
I might be. I also know you have a hard stop. I want to make sure that we feel….Okay, perfect. So what do you have for us now? Los Calientes.
Chris Noe:
This is one of my favorites.
Joseph Drambarean:
Yeah, this is a good sauce.
Chris Noe: Yeah, I actually have this at home.
Joseph Drambarean:
So I think I feel bad for tossing this wing, but I’m going to reset.
Chris Noe:
You’re going back in?
Joseph Drambarean:
Get some more chicken.
Chris Noe:
See, I’ve still got a little bit more meat on the bone.
Joseph Drambarean:
Shout out to Hattie B’s. This is great fried chicken. I wish we had this in California.
Chris Noe:
It’d be fantastic, wouldn’t it? You know the story with Hattie B’s, right?
Joseph Drambarean:
No, I don’t actually.
Chris Noe:
Supposedly. Somebody’s going to fact check me on this. Supposedly, the hot chicken phenomenon was was initiated the catalyst for it was someone had found out their spouse was cheating and so when they went to go make their fried chicken for the evening they thought i’m gonna show this person and they doused it up with cayenne pepper and when the individual came home and started to eat it they absolutely loved it and the phenomenon of hot chicken was was born.
Joseph Drambarean:
Alright. Well I have to say Los Calientes.
Chris Noe:
Isn’t that delicious?
Joseph Drambarean:
This is probably one of my favorite sauces.
Chris Noe:
It’s very good.
Joseph Drambarean:
Chris, we have been working together for a while. I’m sure that there are reasons that you love working with me and my team. Also probably some reasons you hate working with us that you’ll probably not share on camera.
Chris Noe:
Hate’s a strong word.
Joseph Drambarean:
I was curious, what are some of the favorite moments that you’ve had? working with fintechs and if you’re willing to share them some of the maybe not so favorite moments.
Chris Noe:
Listen, I thoroughly enjoy having the opportunity to work with really what I see as some of the brightest minds in the financial technology space. And I certainly put you and the Trovata team in that camp. It challenges all of us to maybe think a little bit differently, and start to realize the art of the art of the possible.
You know, I tried tackling cash positioning and forecasting for quite some for. I think anyone with a decent budget can build it up the first time. But continuing to iterate and innovate on what that needs to be is it’s a challenge. You know that you know that all too well. So I love being able to to work with smart folks, bring solutions to market. I also find that it helps when we’ve got a shared vision, shared goals, shared principles, understanding how do I define success, how might you define success. Same thing with any partner. With respect to, what do you call it, challenges. You said hate, I’m not gonna say hate. I’ve never had, I really haven’t had bad experiences.
Oftentimes I find that that you know any sort of challenges that we face is is largely a result of the values or the goals not being aligned the way that they they should be, and typically we can we can resolve that we can work through that if we find that listen our our goals and our objectives are not aligned, I’d much rather solve for that in the early assessment the early due diligence then getting too far down a path. Realize the partnership is just not going to work.
Listen, banks don’t move at the pace of fintech. You know that. And so I think setting realistic expectations across the board and helping to manage those expectations becomes an opportunity as well.
Joseph Drambarean:
Speaking of moving quickly, we’re already what, five deep?
Hot Sauce #5: Apple Caraway – Dawson’s Hot Sauce
Chris Noe:
Are we five deep? Now it’s going to get really hard. Why do I have that feeling? Thank you.
Joseph Drambarean:
Well, that’s a different color.
Chris Noe:
It’s like the color of death.
Joseph Drambarean:
That’s a volcanic color.
Chris Noe:
This one is really good though, isn’t it?
Joseph Drambarean:
It really is. I kind of just want to stick with that one.
Chris Noe:
Thank you. Oh God. I don’t know that I really want to but…
Joseph Drambarean:
So this is…
Chris Noe:
Is that Dawson’s hot sauce?
Joseph Drambarean:
Yeah. It’s kind of an unassuming…
Chris Noe:
Apple Caraway. Yeah. It looks like a nice bottle. Something like you buy at Whole Foods, right?
Joseph Drambarean:
It’s not shouting or being angry like other sauces that are in the lineup. Speaking of moving fast, a lot of people at this conference, including myself, have been talking about AI.
Chris Noe:
Yeah. I’ve heard of it.
Joseph Drambarean:
Oh yeah. Little heat. That’s a little heat. It’s still not bad. It might have an aftershock though. So speaking of AI.
Chris Noe:
It’s got good flavor.
Joseph Drambarean:
Do you think that there’s anything that AI will make obsolete?
Chris Noe:
Do I think that there’s anything…
Joseph Drambarean:
In the banking space specifically? Sorry, I got the little taste. like…
Chris Noe:
I heard you. And as soon as you said that, I got the tingle in the back of the throat there.
Joseph Drambarean:
I did too. was like, wait a minute.
Chris Noe:
I thought, wow, this is nice and sweet. I will go back for more, but it’s got some heat.
Joseph Drambarean:
I think I’m going to go back for more as well.
Chris Noe:
That was really nice.
Joseph Drambarean:
I want to say I didn’t see Chris and Brett double dipping that often.
Chris Noe:
Oh, is that right?
Joseph Drambarean:
And we’ve been going back. So I feel like we’re doing a better job.
Chris Noe:
We’re doing a better job. We’re doing a better job. We’ll let others be the judge. That’s good too.
Joseph Drambarean:
Actually yeah.
Chris Noe:
I would eat that. I would.
Joseph Drambarean:
I like the sweetness of it. I like that it has a little after kick.
Chris Noe:
Yeah. Little after burn, but not overwhelming. Yeah. Right. What did you ask me about AI.?
Joseph Drambarean:
So do you think it’s going to make any part of banking today obsolete?
Chris Noe:
I don’t know about obsolete. I think it has an opportunity to maybe shift the way that folks are working today. The amount of time that, you know, banks spend on analysis type functions or even communications and content type functions. think there’s quite a bit of that could benefit from AI and we’re already starting to see some of that with OpenAI and Co-Pilot and other platforms.
I’ll tell you my personal philosophy. I think there’s a number of use cases where it can benefit, but I think as a financial institution, we’ve got to be very, very conscious of how we use our clients’ data and just making sure that we’re using it in an appropriate way and we’ve got the appropriate permissions.
But I think there’s some of the work that we’ve probably all done growing up through our careers, building decks, working through spreadsheets. I think there’s a significant opportunity to simplify some of that. Do I foresee AI taking the role of a CTO or CIO or even a product manager in the near term? I don’t see it taking the place. I don’t think it makes it obsolete. I think there’s ways to maybe make it more efficient.
Joseph Drambarean:
Efficiently moving through this next line up here.
Chris Noe:
Are you keeping us moving?
Joseph Drambarean:
It’s possible and I can still feel it in the back of my neck. So I actually like that. This is the first one that I feel like there’s a little bit of a tingle.
Chris Noe:
In the back of your throat?
Joseph Drambarean:
The back of my throat.
Chris Noe:
Yeah, yeah, 100%.
Joseph Drambarean:
It’s not uncomfortable. I actually like it.
Chris Noe:
No, no. But it’s got some flavor.
Joseph Drambarean:
Yeah. All right. So this is six.
Hot Sauce #6: Jerk & Scotch Bonnet – Pepper North
Chris Noe:
I was gonna go in for more. All right, we’ll table that. Thank you, ma’am.
Joseph Drambarean:
And where are we on this one? This is Jerk and Scotch Bonnet Pepper North.
Chris Noe:
That smells, like deceptively. Take a look. Look, family, community, integrity, peace, and love.
Joseph Drambarean:
Where are we at on the Scoville level for this one? Is this in the 30s yet or 40s?
Chris Noe:
Jamaican, this is legit.
Joseph Drambarean:
OK, so this is a 71,000. So it’s not terrible.
Chris Noe:
Millions?
Joseph Drambarean:
But it’s also, it should have a kick.
Chris Noe:
Let me turn the table on you. Where do you think there’s opportunity for efficiency or roles becoming obsolete for, and let’s just say from a financial services standpoint, with respect to AI?
Joseph Drambarean:
I have one and you can feel free to steal it. I really believe that so much time is wasted in the process of learning about available services and how to best leverage them and make decisions around those services. Things that I think about are how often clients of ours don’t even know where to begin to start connecting the dots on what they want to accomplish.
Chris Noe:
I think that’s very true.
Joseph Drambarean:
So I’ve thought a little bit about all of that is text-based, right? There’s no complexity there. There’s no calculations being made, there’s no analytics. It’s just simply connecting dots in a way that helps you meet the need that you have with the questions that you’re asking, and so often you send an email, maybe it’s to your banker or to your vendor, and maybe you misword it, or you word it in a way where they understand it, given their ecosystem of services, and they say, I know what you’re trying to do. Let me put you in touch with this person. And it’s just fundamentally wrong. And you were on the wrong path. And I feel like so much of that could just be…
Chris Noe:
I think that’s a good one. I think that’s a good one. Yeah. Tremendous opportunity for automation. Right. And just being able to better serve and understand the context and the spirit with which things are being imposed.
Joseph Drambarean:
I feel like help just generally is an underutilized part of AI because it’s like everybody’s focusing on this will write my contracts. Well, why can’t it be something simple?
Chris Noe:
Yeah. Well, the simple stuff may not be what gets the headlines. Right. But I think it’s the simple stuff is where you start and prove out the value and build from there.
Joseph Drambarean:
And that’s something that I can verify pretty quickly, and I gain trust in because if it tells me to go meet this person or here’s the answer to my question, and it’s right, and I find out within the first meeting that it was right, now all of a sudden I’m going to go back to it because why would I talk to a person, if it can answer my question?
Chris Noe:
That’s really good.
Joseph Drambarean:
It’s good again. And I actually think number five was hotter. Or at least it had more of an after kick.
Chris Noe:
I agree with you. I will say I’ve got… I can tell the heat is coming.
Joseph Drambarean:
Yeah, it’s built up at this point.
Chris Noe:
It’s built up. Yeah. Yeah.
Joseph Drambarean:
I assume that’s the whole point of this. Right? that what the whole… It’s accumulation of heat.
Chris Noe:
We’re just gonna keep holding?
Joseph Drambarean:
We have various flavors here.
Joseph Drambarean: Alright.
Chris Noe:
What do we have coming up?
Hot Sauce #7: Ninja Napalm – The Pepper Ninja
Joseph Drambarean:
Alright, so this is seven. Ninja Warrior. This is actually, I remember Chris made a face.
Chris Noe:
Oh God, this is the one? Yeah, I can understand why. That does not smell great. Ninja Napalm.
Joseph Drambarean:
I don’t, well, you know.
Chris Noe:
Scorching. I think I’m gonna start with a little dab on this one.
Joseph Drambarean:
I think I’m going to do the same thing.
Chris Noe:
Made in Ohio. Shout out Ohio.
Joseph Drambarean:
I don’t want the questions to get too spicy, but I have a…
Chris Noe:
That’s a heck of a teaser.
Joseph Drambarean:
I have a spicy question for you. Which we can always cut this out, but maybe we won’t. In a previous podcast, one of our guests, I positioned him with your czar of AFP today, and you have at your disposal every bank, every vendor that’s here at AFP to solve one problem immediately. What is that problem? Without hesitation. I mean, there wasn’t even the slightest hesitation. This person said, KYC, it’s as if they are intentionally making our lives miserable. Any comment as I take my first bite?
Chris Noe:
Let me take my first bite, then I’ll give you some comments. It smells terrible, Joseph. I don’t know why I went back for more.
Joseph Drambarean:
It doesn’t taste good. It is spicier than all the rest of them, but not in a way that is like alarming. Oh wait.
Chris Noe:
Yeah, there’s the heat.
Joseph Drambarean:
It’s got some.
Chris Noe:
It’s got some heat.
Joseph Drambarean:
This is a sign of what’s to come.
Chris Noe:
Yeah, great. I can’t wait. KYC is a challenge.
Joseph Drambarean:
Truer words were never said.
Chris Noe:
You like that? Hmm. Yeah, that’s got some heat.
Joseph Drambarean:
I’m losing a little focus.
Chris Noe:
You want to go back for more?
Joseph Drambarean:
Yeah, I want to go back for more, but I don’t know if it’s a good idea.
Chris Noe:
Yeah, I mean it’s almost like it’s, it’s…Addictive right like…
Joseph Drambarean:
Yeah, I can feel the face, something is happening.
Chris Noe:
So was this the one that, the face was made yesterday.
Joseph Drambarean:
Yeah, this is the one where Chris started to react negatively. I think Brett He just must have a higher tolerance.
Chris Noe:
Oh yeah, I’ll have a yeah, I’ll feel this one later.
Joseph Drambarean:
This is what they came here for though, right? This is why Flora’s here all of a sudden.
Chris Noe:
Yeah. Yeah. KYC.
Joseph Drambarean:
That’s a spicy topic of KYC.
Chris Noe:
KYC. It’s a challenge. Is it the biggest challenge? I don’t know that I’d argue…I’m not going to argue for or against that. I think the challenge is KYC is only going to continue to get more challenging. There is an opportunity for consistency across the industry. I think there have been groups of financial institutions that have tried to tackle these things in the past.
We haven’t seen the success that I think there’s an opportunity to. But I think if we look at this the way that we should, from a client standpoint, we should be able to work together to be able to solve for simplifying and improving that overall process.
Joseph Drambarean:
Ultimately, think the answer that is the easiest one to accept for everyone is that, look, identity is hard. No one has solved it. No, not banking, not tech, not even blockchain. No one has solved it. There’s a reason no one has solved it. It’s hard. But I think the commitment is there because all of our lives would be improved if we could fix it.
Chris Noe:
Yes. Yeah, completely agree. But I think what you’re like, you hit the nail on the head. It’s a, it’s not necessarily a technology challenge. It’s an identity challenge. Right. I think technology has an opportunity to solve for it. Like and there’s some other there’s some companies doing some very interesting things in this space. I don’t know. There’s a silver bullet just yet, but I think it will be solved. I’m going back in. This is a bad idea.
Joseph Drambarean:
He’s going to go back in. We’ve got number eight…
Hot Sauce #8: Evolution Hot Sauce – Da Bomb
Chris Noe:
How many do we have? Two more?
Joseph Drambarean:
…coming in the pipeline. It’s more volcanic. Well, this one’s Da Bomb.
Chris Noe:
Are you serious?
Joseph Drambarean:
This is the infamous Da Bomb.
Chris Noe:
Da Bomb Evolution.
Joseph Drambarean:
This is the one that, you know, I’ve watched this show constantly.
Chris Noe:
Listen, Joseph, I don’t mean to be nitpicky, but this says refrigerate after opening. I’m not sure we can actually eat this.
Joseph Drambarean:
We signed the waivers.
Chris Noe:
We did.
Joseph Drambarean:
We should have done our due diligence. Maybe we should have had a KYC process. You know what? I’m going to go for it. I am going to regret this immediately…
Chris Noe:
I want to see you take a big big dip Joseph.
Joseph Drambarean:
All right. my god. That’s That’s a.. that’s a mistake. Pour some of that out.
Chris Noe:
What’d get you? You got a lot!
Joseph Drambarean:
Okay, as I’m having this bite I’m gonna make you czar of AFP for the day you have every vendor at your disposal. Let’s leave the banks out of it. What would you use all of that creative and technical capacity to solve right now? Today. Here I go.
Chris Noe:
So before I take this bite, I think KYC is a valid item. I think solving for…
Joseph Drambarean:
Poison…
Chris Noe:
Is it terrible? You went…
Joseph Drambarean:
That’s poison.
Chris Noe:
Should I bail? I can’t bail.
Joseph Drambarean:
No. Why?
Chris Noe:
I think if we can all come together…Let’s talk about KYC. I think about embedded banking or ERP banking as another opportunity…
Joseph Drambarean:
I’m really trying to focus.
Chris Noe:
Can you focus?
Joseph Drambarean:
Yea I’m here. Embedded banking.
Chris Noe:
Joseph, are you here?
Joseph Drambarean:
I’m following you.
Chris Noe:
Joseph, can you hear me?
Joseph Drambarean:
I can hear you.
Chris Noe:
Oh God.
Joseph Drambarean:
It just tastes so awful.
Chris Noe:
This is God awful.
Joseph Drambarean:
Okay, this is the Trovata dab brought to you by Trovata.
Chris Noe:
That is disgusting. I mean, it’s not even good.
Joseph Drambarean:
I wish…
Chris Noe:
The rest of these have all had some degree of flavor.
Joseph Drambarean:
I’m not gonna do a second dab.
Chris Noe:
No, that’s terrible.
Joseph Drambarean:
I think I’m gonna have to get some water.
Chris Noe:
I got a flight later today, Joseph.
Joseph Drambarean:
This was a mistake, Chris. Whoever on your PR team said, let’s do this. They should have a word with Rida. Maybe I’m just weak.
Chris Noe:
You’re not weak, Joseph. We got two more to go.
Joseph Drambarean:
We’ve got two more to go. And you’re still the czar. You’re still trying to do embedded banking. I think.
Chris Noe:
What are we talking about? Yeah okay, thank you. So we said we said, we’re in charge. We’re going to solve for KYC. First and foremost, because that’s a problem that impacts everybody. I think the other item that does impact everybody is how commercial and corporate clients work with their financial institutions. Historically, it’s been, you know, setting up lengthy setting up file transmissions that take forever. Doing copying and pasting sort of swivel chairs, what I call it with multiple monitors, multiple applications with digital apps.
You know, being able to, to meet clients where they are within their respective platforms and whether that’s a ERP, accounting system, TMS, whatever the case might be. I think there’s a, there’s a real opportunity there.
Joseph Drambarean:
I love that. And my follow-up is going to be about this, but I think Rida is going to meet us where we are with number nine.
Chris Noe:
Are you asking for more? God. I can’t feel my tongue. That is terrible.
Joseph Drambarean:
Chris, I’ve never been staggered by a food item.
Chris Noe:
Are you staggered right now?
Joseph Drambarean:
I’m staggered.
Chris Noe:
I will never eat the bomb again, I can assure you. Arbal Scorpion, though, this sounds fantastic.
Joseph Drambarean:
Another characterization that I’m not fond of when thinking of food items.
Hot Sauce #9: Arbol Scorpion – Fresco Sauce
Chris Noe:
Well, here you go. Used with caution, extremely spicy. This has five flames and it says Hellfire. I think that means generally…
Joseph Drambarean:
Where are we at in Scoville Count at this point?
Chris Noe:
820,000 on this one? Here an interesting factoid. Number one ingredient is water. You know what the next one is?
Joseph Drambarean:
Habanero?
Chris Noe:
Pomegranate juice.
Joseph Drambarean:
OK. This is healthy.
Chris Noe:
And then red wine vinegar. This can’t be that bad.
Joseph Drambarean:
So…
Chris Noe:
you go first.
Joseph Drambarean:
I’m going to dab it. This one is not going to be. I think my mistake was I went. Oh god. I’m going to let that drip a little bit. Do you want a pitch hitter? I think maybe you should come over. So embedded banking. I actually heard an interesting commentary in a… two podcasts ago. So not Richardson…
Chris Noe:
You say Tupac?
Joseph Drambarean:
Two pods ago, two pods, two pods. Yeah. He was saying marketplaces are interesting from an embedded banking perspective. Where do you stand on on just kind of creating ecosystems if you were platforms that allow for vendors like Trovata and others to play a role in the wider banking experience.
Chris Noe:
See I’m strategically waiting for you to take that bite to see how bad it is.
Joseph Drambarean:
Alright I’m just gonna do it.
Chris Noe:
Do it. Marketplaces and platforms. I’m a fan. I think the challenge or the opportunity is we’ve got to make sure that the rules are consistent. Is it terrible?
Joseph Drambarean:
It tastes better.
Chris Noe:
The rules are consistent across the board and that the economics make sense. There’s this there’s this idea, this fallacy out there that you can put interchange percentage points on every payment type. That’s not the case. Right. So…
Joseph Drambarean:
We all have to win somehow.
Chris Noe:
There’s got to be a balance. Right.
Joseph Drambarean:
You know who’s not winning? Me. I take that back. Doing this together with you is a win. We’re never going to forget this. Again..
Chris Noe:
You’re far too kind.
Joseph Drambarean:
Will you ever hang out with me again?
Chris Noe:
That is actually…No, no, listen, this is fun. But this is… The bomb… Da bomb… Was far… Worse.
Joseph Drambarean:
Yeah. If this is all that’s left… I can do this.
Chris Noe:
This is not that bad. This is not that bad.
Joseph Drambarean:
The problem is Da Bomb is still there.
Chris Noe:
It’s lingering. It’s lingering. Yeah. you dumped it? I’m going one more.
Joseph Drambarean:
This is a… We’ve got number 10 coming.
Hot Sauce #10: The Last Dab: Xperience – Hot Ones Hot Sauce
Chris Noe:
Oh we’re done? Did we survive?
Joseph Drambarean:
We’ve got one more. This is The Last Dab: Xperience.
Chris Noe:
How many scoville?
Joseph Drambarean:
2 million? Okay. 2 million.
Chris Noe:
2 million. 2 million, 693,000. Wow. This is stupid. It’s over 91 % pepper X, which I think is supposed to mean something to…
Joseph Drambarean:
So it’s a custom, not existing in nature, pepper…
Chris Noe:
Excellent.
Joseph Drambarean:
That they just made to hurt us.
Chris Noe:
Here’s the ingredients, Joseph, are you ready? Pepper X, Pepper X distilled vinegar. Pepper X pepper powder and Pepper X pepper distillate. So it’s Pepper X. It’s gonna be delicious.
Joseph Drambarean:
Chris, this has been amazing.
Chris Noe:
Hold on, I gotta get ready with you. We gotta do this together.
Joseph Drambarean:
We’re gonna do it together. And I’m not just so our Chris sees. I’m not copping out. This is a full, wholehearted dip.
Chris Noe:
Are you grading dips over there? Is that sufficient? All right.
Joseph Drambarean:
I just want to thank you, Chris, for doing this. It’s hot.
Chris Noe:
I can taste that pepper X.
Joseph Drambarean:
So I think I made a mistake just now. What I did, was when I bit it. I didn’t really chew it. I just said down the hatch And it is absolutely
Chris Noe:
That’s gonna work out well for you later.
Joseph Drambarean:
Volcanically, just scorching my entire esophagus right now. That is an effect, again staggering.
Chris Noe:
I still say I did listen, this is rough…Alright, I’m not talking smack. I was gonna talk smack. I’m not talking smack.
Joseph Drambarean:
It’s not as staggering as the fact that we made it to the end.
Chris Noe:
Come on, right?
Joseph Drambarean:
I was not going to let Brett have the final say on spice.
Chris Noe:
Did Brett make it?
Joseph Drambarean:
He made it. And I’m proud of him.
Chris Noe:
Chris make it?
Joseph Drambarean:
Chris made it. I always knew Chris would do it though. I just had a feeling. He has that build. But I know we got to get you out of here. I just want to thank you so much for doing this with me. And I look forward to many more years of working together.
Chris Noe:
Thanks for having me. This is a lot of fun. Oh my God.
Joseph Drambarean:
Have fun having your next meeting because I don’t know how you’re going to get through that. Before we go, we’ve got this camera right here, this camera right here, that camera right there. We’d love to…
Chris Noe:
You’re doing your best, Shawn edit?
Joseph Drambarean:
Share any of your good news with our audience on FinTech Corner. The camera is yours. Wow.
Chris Noe:
Wow. Can you repeat that again? No, I’m just kidding. Listen, folks, thanks for thanks for the opportunity to participate in this with Joseph and I. I’m actually pretty impressed. We got through it. I don’t have anything to. Celebrate or evangelize at this point in time, but thanks for having a book coming out. No book. All right. No book.
Joseph Drambarean:
Yeah, maybe we can figure that out.
Chris Noe:
We’ll figure that out together.
Joseph Drambarean:
All right. Thank you, Chris.
Chris Noe:
Thank you brother.
Joseph Drambarean:
Appreciate your time.
