Today we welcome Landon Glenn, CEO and Founder of ASA. I met Landon at the RevTech Labs fall Venture 135 Conference. We ended up sitting at the same table together and quickly started talking about ASA and his background.
Landon was a key component of scaling Banzai (an online financial literacy application for kids). During that time (about 5 years) Landon was attending 10 – 12 fintech conferences a year and kept hearing about fintech startups struggling to integrate with banks and the financial institutions. ASA came about when Landon realized the difficulties of Fintechs partnering with financial institutions. ASA has developed a solution that allows them to integrate with the banking system’s core.
Landon and Ryan Ruff, who has been through RevTech Labs’ accelerator in 2017 with Envudu (know known as Spendpal), started working on this problem as soon as Landon left Banzai. What they have come up with is a very unique solution. The regulators here in the US want to see the banking system open up more as well so you’ve seen them move towards requiring the financial institutions integrate more with systems like Plaid – which is similar to the open banking/open API platform commonly being used in Europe. But the open banking system has its own set of problems.
Landon and ASA call their solution, colloborative banking, as it allows the Fintech and the banks to work together – to the benefit of the end user. Fortunately, they’ve already been working with regulators on their solution and it has been well received. What they have is a solution that allows fintech companies to quickly access data directly from the banks core processor (which Landon describes in our podcast). As such, startups don’t have to worry about the issues that come from scraping data and banks get to protect aspects of their business they can’t with open banking.
Sounds like a homerun right? Listen to the podcast for more about Landon and ASA is doing and how they are doing it.
William Bissett is the owner of and an Investment Advisor Representative of Portus Wealth Advisors, a Registered Investment Adviser. Registration does not imply a certain level of skill or training. Opinions expressed on this program do not necessarily reflect those of Portus Wealth Advisors. The topics discussed and opinions given are not intended to address the specific needs of any listener.
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