On the TechTO stage ×1
First seen on the TechTO stage in 2019. Every talk is searchable — ask the archive about Michele ↗
In their words
it's not as simple as building a solution or launching an app it requires the deep understanding of all the complexities of global money movement networks correspondent banking regulatory compliance and foreign exchange
we're creating a model where both parties can leverage their strengths to bring solutions to market quicker and more efficiently than either of them could alone
Quick answers
Who is Michele Poole?
Founder of DeepPoole Advisory in Toronto, which advises fintechs, payment service providers and financial institutions. She has spent more than twenty years in payments, fintech and public policy, with senior roles at Interac Corp., CIBC, National Bank of Canada and AOL, and was global head of customer experience at Buckzy Payments.
What is Buckzy?
A Toronto fintech, founded in 2018, that runs a real-time cross-border payment network and banking-as-a-service platform for financial institutions and marketplaces rather than for consumers directly.
Why hasn't cross-border payment improved in forty years?
Her answer on the FintechTO stage: it isn't a matter of building an app. It takes correspondent banking, regulatory compliance, foreign exchange, connections to real-time payment networks in each country, and relationships with banks and regulators globally — a set of things no single product decision solves.
How big is the market she described?
Citing McKinsey on the TechTO stage in May 2019: US$1.3 trillion of revenue from global money movement in 2017, projected to reach $2.2 trillion by 2026, about 90 per cent of it earned by financial institutions. Dated stage figures, not current ones.