Whit Chapman

#Fintech communications @ Green Dot 💰. Previously @fleishman 📝 and @wustl 🐻. No tats on the right arm, strictly for tweeting.

[Dov Kleiman @NFL_DovKleiman]

Wild: #Illinois TE Tip Reiman thinks pigeons are not real...🤦‍♂️

“Have you ever seen a baby pigeon?”

“How do we know that power lines aren’t pigeon recharging stations?”

(h/t @RieseDraft)

[Whit Chapman @whitchapman]

Off the streets this week:

[NBC News @NBCNews]

The craze for Stanley stainless steel drinking cups reached new levels last week when a woman was arrested for allegedly stealing 65 of them, worth almost $2,500, from a store in California. https://t.co/AF7SEbzau8

[Whit Chapman @whitchapman]

Now we play the waiting game until I can legally start shooting my original screenplay, "Spaghetti Dogs"

[Wikipedia @Wikipedia]

Today is Public Domain Day.

This year in the United States, the earliest incarnation of Mickey Mouse enters the public domain through “Steamboat Willie,” an animated short film that served as the character’s debut. 🧵⬇️ (1/4)

[Whit Chapman @whitchapman]

Stressful Friday trying to decide if my favorite recent fintech story is the OCC hiring a phony Chief Fintech Officer or HyperVerse crypto fund having a CEO that doesn't actually exist
https://t.co/8VhzWz8JH0

[BetMGM 🦁 @BetMGM]

If he wasn’t a generational NBA prospect, what does it look like Victor Wembanyama would do for a living

[Whit Chapman @whitchapman]

There’s been a tragedy in the club community

[Wild content @Nocapmedia]

Man ain’t no way 😭

[Whit Chapman @whitchapman]

Should I start cooking our Christmas hot dogs on Xmas eve or is the morning of fine?

[Gordon Ramsay @GordonRamsay]

Before you know it the holidays will be here….what cooking questions do you have for me ??

[Julian Edelman @Edelman11]

7 days.

[Simon Taylor @sytaylor]

I read the entire OCC, FDIC and Fed 3rd party guidance. Here's my snapshot take.

This is the biggest shakeup to Bank and Fintech provider partnerships in the US in a decade.

The guidance is for banks on managing risks from 3rd party relationships. This covers all outsourcing, the use of consultants, payments providers, consortia, and technology providers. Banks must maintain a complete inventory of 3rd parties and periodically risk assess those parties.

🤔 Guidance is a super helpful thing for everyone in the space. The industry has evolved dramatically in the past decade. The last time this guidance was updated, Banking-as-a-Service wasn't a thing, and it was rare for Fintech companies to be a bank providers. How the world has changed. There's nothing earth-shattering in this, and yet it is a comprehensive checklist of activities clearly written. There's no excuse not to do this well.

🤔 There are clues in the guidance regarding what the regulators are responding to. If you look at actions at state and federal levels, findings included 3rd parties like consumer Fintech companies having high volumes of complaints. After the banking crisis considering the "financial soundness" of 3rd parties has also got a heightened focus. A lot of this looks like the way banks themselves are examined (management team, governance) being expected when appropriate to be in place over 3rd parties. And. That seems logical. Right?

🤔 This impacts everyone from bank vendors to Fintech companies to the banks themselves. Banks must consider everything about a 3rd party, like the business plan, management team experience, financial soundness, the volume of customer complaints, and ability to manage any risks and responsibilities. The guidance recommends ongoing monitoring, including reports, periodic visits, and regular testing of controls.

🤔 There are great Fintech tools to help banks manage, audit, and test the quality of 3rd parties (Cable, Themis, Sardine*, Unit21, Alloy etc). On the surface, the guidance leaves the "how" up to the banks. The default would be spreadsheets and committees, but in 2023 we can do better with dashboards and data. The interesting challenge for banks is their legacy providers might be more compatible with spreadsheets and committees. The Fintech companies that can help them grow deposits, NII, or reduce cost are best managed with data and dashboards.

🤔 The USA still needs an "e-money license" or something similar. There is too big a gap between state-level MTLs and a banking charter.

[Whit Chapman @whitchapman]

Day 1 of #FintechNexus. New this year: automated attendees.

[Whit Chapman @whitchapman]

While I was in middle/high school:
• 9/11
• Worst financial crisis since Great Depression
• Failed Bay of Pigs invasion heightens Cold War tensions
• Bernie Mac dead at 50
• Spygate witch hunt detracts from how good the 2000s Patriots were; ESPN quietly apologizes in 2015

[Pedro L. Gonzalez @emeriticus]

It really feels like Millennials were the last people who got a largely apolitical high school experience. I don’t remember anything political, just a bubble of blissful ignorance. “Jackass” and Blink-182 were popular. The main concern was asking out your crush.

[Spoked Z @SpokedZ]

Trent Frederic one punches Lane Pederson. Oof

[Whit Chapman @whitchapman]

Game notes: just looked up Kansas State on Google Maps. Not only are there no people, there’s no books, not even one on bball 🏀 #keystothegame #MarchMadness

[Whit Chapman @whitchapman]

Just thought about what the Founding Fathers would think if they saw this technology and had to lay down on my Fainting Couch #again
#THEPLAYERS

[THE PLAYERS @THEPLAYERS]

Our favorite tracker video of the year returns.

#THEPLAYERS

[Whit Chapman @whitchapman]

@GriffMcNerney .@TwitterSafety this user is espousing dangerous rhetoric

[Whit Chapman @whitchapman]

Congratulations Darrelle! Knew we would be lifelong friends after I patted you on the back after beating the Ravens in the playoffs and you looking like you wanted to break every bone in my body. Let’s catch up soon.

[Savage @Savageboston]

Congratulations to Patriots Super Bowl champion, Darelle Revis on being selected to the pro football hall of fame!!!

[Jordan McKee @jordanhmckee]

In the process of pulling together a banking-as-a-service market map report - this is one of my favorite data points so far: BaaS was mentioned in 62 bank earnings calls last year, up from 6 in 2019

[Tanay Jaipuria @tanayj]

Google lost $100B of market cap today as its Chatbot Bard made a factual error during its first-ever demo and its AI event fell flat.

Must be the most costly live demo fail of all time

[Whit Chapman @whitchapman]

I’m not doin it. I don’t even wanna be around anymore.

[Horror N Haunted @HorrorNHaunted]

Today is National Science Fiction Day. Share science/horror scenes from any movie or tv shows.

From Possessor 2020

[Whit Chapman @whitchapman]

Best game I have gone to/will ever go to.

(apart from wife crying from being too cold)

[TCL @TitleTalkTCL]

Enjoy hearing Gillette Stadium the loudest I've ever heard it