Arizona Company A Leader In Fintech

Published: Wednesday, January 30, 2019 - 1:28pm
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Andrei Cherny, CEO of Aspiration Bank.

Some of the country’s most traditional industries — from real estate to mattress companies — have been hit by disruptors. And the results have been mixed, with successes and failures, which is no surprise when innovation is involved.

But even after the Great Recession and the "too big to fail" designation on certain banks, those legacy banks continue to dominate. That’s where the concept of fintech comes in — moving the financial services industry in a new direction, one that could combine the best technology with customer wants and needs.

Arizona is hoping to be at the heart of those changes, as some state officials want the state to be a fintech “sandbox.”

One of the leaders in that realm — in part, for concepts like allowing customers to "pay what is fair" as their fee — is Arizona resident Andrei Cherny of Aspiration.

He joined the Show to talk about fintech and what his firm is doing.

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