In Episode 11 of Business & Brews, Matt Pierce is joined by Phil Goldfeder and Charles Potts of the American Fintech Council for a conversation about responsible innovation, collaboration across the fintech ecosystem, and what it takes to build durable, consumer-first financial products.

From Phil’s journey into fintech and the growth of AFC, to Charles’ perspective on standards, trust, and long-term industry success, this episode explores how fintechs, banks, and regulators can work together to move the industry forward the right way.

Episode Summary

This conversation dives into the evolution of the American Fintech Council and how it has grown into a major voice across fintech. Phil and Charles share why AFC has focused so heavily on responsible innovation, pragmatic policymaking, and creating a space where competitors can align on best practices for the good of the broader ecosystem.

The episode also highlights earned wage access as a powerful example of what can happen when companies collaborate around shared standards while still competing in market. Matt, Phil, and Charles discuss why governance, transparency, accountability, and compliance are not barriers to growth, but core ingredients for building lasting companies and products.

Timestamps

00:54 – Charles’ coffee shoutout and entrepreneurial roots

01:31 – Phil’s origin story

05:40 – How American Fintech Council came together

06:35 – AFC’s growth and evolution

08:35 – Charles on why AFC’s growth matters

11:23 – Navigating fintech, banks, and government

12:52 – Responsible innovation and pragmatic leadership

16:18 – Mission, optimism, and building with purpose

21:26 – Earned wage access as a case study in collaboration

25:48 – Building standards, durability, and trust

27:44 – Competitors aligning for the good of the industry

29:42 – What’s ahead for fintech in the next 9 months

Key Takeaways

The American Fintech Council has grown into a major collaborative voice across the fintech ecosystem
Responsible innovation requires governance, transparency, and accountability from the start
Compliance can be a competitive advantage, not just a requirement
Earned wage access is a strong example of how competitors can align around shared standards