A CTO's Vision for Fintech Innovation: Insights from Current

Cross River

March 1, 2024

2 min read

In a recent webinar, Cross River’s Head of BaaS & Cards, Anthony Peculic, joined Current's CTO & Co-founder, Trevor Marshall, in an insightful conversation to discuss new growth strategies and fintech innovation. Check out this video for all the highlights from their conversation.

Here are some quick highlights that delve into Current CTO's vision for new growth strategies, fintech innovation, and more:

  1. Target market: Current initially targeted the underbanked/underserved population due to a market opportunity with low competition and a lack of existing solutions that addressed their needs.

  2. Initial challenges: Finding product-market fit and customer acquisition were Current's biggest initial challenges.

  3. Customer evolution: While the core problem (managing finances on limited income) remains the same, customer needs have evolved, requiring Current to adapt its offerings (e.g., early access to paycheck vs. earned wage access).

  4. Financial education vs. opportunity: Trevor believes financial education is not the primary solution for Current's customer base. They focus on providing tools and opportunities to manage finances effectively within their existing limitations.

  5. Technology for efficiency and innovation: Current invests in building its own technology platform to ensure control, efficiency, and faster product innovation.

  6. Future trends: Faster payment rails are seen as one of the important trends with the potential to improve customer experience.

  7. Legacy and impact: Current aims to continue leaving a legacy of improving the lives of millions by providing better financial products and services.

  8. Advice for fintech founders: When seeking a banking partner, founders should prioritize building strong internal compliance and controls to establish trust and facilitate smoother partnerships.

  9. Collaboration within the industry: Trevor emphasizes the importance of collaboration within the financial services industry to create a "constellation of solutions" that better serve the underbanked/underserved population.

 Watch the full recording of the Cross River x Current webinar here.