Fintech Insider Podcast by 11:FS
Episode 1011: News: Starling fights fraud with AI, Uber goes global with Checkout and Citi and Coinbase collaborate
Release Date: November 3, 2025
Host: Ross Gallagher (Head of Consulting, 11:FS)
Panelists:
- Bill Kennedy (Interim CEO & CFO, Galileo)
- Rory O’Neill (CMO, Checkout.com)
- Mei Lim (Managing Partner, Anthemis)
Episode Overview
This episode, recorded live during Money2020 North America in Las Vegas, delivers in-depth analysis and on-the-ground insights into fintech’s hottest topics. The panel tackles major news: Starling’s AI-driven scam detection tool, Uber’s global payments partnership with Checkout.com, Galileo’s innovative debit card launch with Southwest Airlines, and Citi’s collaboration with Coinbase to bridge traditional finance with blockchain. AI, fraud prevention, payment optimization, loyalty, and digital assets run as strong themes throughout, reflecting the industry’s rapid transformation.
Key Topics, Insights, and Quotes
1. Starling’s AI Tool for Scam Monitoring
Timestamp: 03:58–17:58
Summary
Starling Bank unveiled “Scam Intelligence,” a first-of-its-kind AI tool in the UK that allows customers to upload online ad images to detect potential marketplace scams via the Starling app. Built in collaboration with Google Cloud, it provides real-time guidance and has already increased transaction cancel rates by 300%, showing significant early impact.
Key Insights
- User-Centric AI: The UX makes scam-checking “just a couple of taps,” with instant feedback.
- Data Collaboration: Trained on thousands of scam ads reported by customers.
- Industry Problem: Social media platforms (e.g., Facebook Marketplace) are identified as major fraud sources yet remain insufficiently regulated.
Notable Quotes
“Our goal for scam intelligence is twofold. To protect our customers from scams and to give them the knowledge they need to detect scams for themselves... With scam intelligence, we really want to give that power back to our customers, helping them to make more informed decisions and make purchases with confidence, but they should not feel ashamed.”
—Bernadette Smith, CCO, Starling (voice note, 05:14)
“At the heart of it, it’s really around putting a little bit of friction into that system that the customer needs, and interjecting with, I would say, just basic common sense...”
—Mei Lim, Anthemis (07:12)
“If you think about our business, our business is getting a balance right between payments acceptance rates and a fraud risk tolerant rate... We should all be using GenAI on both driving acceptance rates and reduction of fraud...”
—Rory O’Neill, Checkout.com (09:57)
“Your goal is to prevent fraud before it happens... AI is a huge important part because a lot of it, AI can catch, and then let, you know, free up for your human interactions to be for the little bit more tricky ones.”
—Bill Kennedy, Galileo (12:39)
Timestamps
- 05:14: Starling’s CCO describes Scam Intelligence
- 07:12: Panel on AI’s UX and customer friction
- 09:57: Discussion of risk vs. acceptance rates
- 12:39: On using AI for different fraud types
2. Uber Partners with Checkout.com for Global Payments
Timestamp: 17:58–30:35
Summary
Uber selected Checkout.com for acquiring and gateway services, using its AI-powered Intelligent Acceptance Technology to optimize payments in multiple international markets. The partnership aims to drive up transaction approval rates, reduce friction, and keep the “invisible” payment experience alive.
Key Insights
- Invisible Payments: Uber’s “magical experience” is built on seamless back-end orchestration.
- AI at Scale: Checkout.com runs ~80 million AI optimizations daily, processing over $300bn in annual volume, to boost acceptance and reduce fraud.
- Global Complexity: Under-the-hood challenges abound—local rules, device data, regulatory requirements, etc.
Notable Quotes
“Uber, for a long time, has been a thought leader and a great innovator to create magical moments... So we’re thrilled to work with them... They’re a great team joining the likes of eBay, ASOS, Pinterest, HelloFresh, Deliveroo, Klarna...”
—Rory O’Neill, Checkout.com (18:49)
“Consumers expect you to get it right and they expect it to be fast. As limited friction as possible... We can’t sacrifice things like speed and reliability and convenience completely in the quest to prevent the bad things...”
—Bill Kennedy, Galileo (23:18)
“The AI-driven routing mechanism to try to find the optimal route is really complicated... It’s almost like a finely tuned Google Maps sat nav, which is identifying the best optimal route for that payment flow to go, evolving all of the red bits where you’re gonna get stuck...”
—Mei Lim, Anthemis (25:25)
“If you can’t take a payment, you can’t generate revenue... We would love to start debate on whether the next C-level role should really be a chief payments officer... because it’s that critical to revenue and it’s that critical to competitive advantage.”
—Rory O’Neill, Checkout.com (28:43)
Timestamps
- 18:49: Uber’s payments experience as an industry benchmark
- 25:25: The map metaphor for AI-driven payment routing
- 28:43: Payments’ role as a competitive advantage
3. Southwest Airlines’ Debit Rewards Card Powered by Galileo
Timestamp: 32:52–44:07
Summary
Galileo powers Southwest Airlines’ new Rapid Rewards debit card, enabling debit-first users to earn flight points on everyday purchases. No credit check is required, and fees are avoided, thus broadening inclusion and allowing a traditionally underserved segment to participate in airline loyalty.
Key Insights
- Debit Loyalty is Back: Brands are addressing the 90% of U.S. adults with debit cards—$4.3tn in annual spend.
- Financial Inclusion: The initiative is specifically designed to reach the “debit-preferred” and those who may not qualify for credit.
- Tech-Enabled Viability: Automation and AI make new economics possible for debit loyalty schemes.
Notable Quotes
“It’s emerging of the trends where consumers or a large segment of consumers are headed, and the brand’s realization that loyalty is super keen for ’em, and they want to reach all segments... just not those that might be credit first.”
—Bill Kennedy, Galileo (32:52)
“The debit preference has been long ignored in loyalty and reward schemes. And it’s great to see that it’s being addressed.”
—Rory O’Neill, Checkout.com (35:54)
“From a moral hazard perspective, I do welcome this trend to reward consumers to use debit cards because there is clearly moral hazard around incentivizing consumers to use credit and maybe take on too much credit that they can’t afford.”
—Mei Lim, Anthemis (41:03)
Timestamps
- 32:52: Background on debit loyalty trends
- 35:54: The economics and technology behind the model
- 41:03: Credit vs. debit considerations in loyalty programs
4. Citi and Coinbase Team Up on Digital Asset Payments
Timestamp: 44:07–52:17
Summary
Citi and Coinbase will collaborate to streamline digital asset payments for institutional clients, focusing initially on better fiat on/off-ramps and payment orchestration for smoother transitions between fiat and digital currencies. This is seen as a sign of traditional finance and blockchain infrastructure converging.
Key Insights
- Trust Through Partnerships: Big bank involvement is essential for mass crypto adoption.
- Real-Time Money Movement: Need to modernize legacy banking rails, move beyond cross-border limitations.
- Regulatory Backdrop: The U.S. Genius Act is fueling the current wave of institutional adoption.
Notable Quotes
“Crypto benefits from endorsements that build trust, whether that be regulatory or big brands. Or traditional finance institutions like Citi and Coinbase having partnerships that fuse those two worlds... The movement of money needs to be updated to the digital experiences that we’re providing for consumers.”
—Rory O’Neill, Checkout.com (45:34)
“Consumers are going to be impacted by crypto in a lot of different ways... but the reality is, in practice, it’s going to be money movement, stablecoins, and behind the scenes, cross-border...”
—Bill Kennedy, Galileo (47:10)
“The bridging between on and off-ramps is going to be pretty crucial to make sure that new and old is knitted together in the most seamless way.”
—Mei Lim, Anthemis (48:52)
Timestamps
- 45:34: On trust and traditional finance getting involved
- 47:10: The practical impact of stablecoins and digital assets
- 48:52: The importance of seamless fiat–crypto bridging
5. Quickfire News: Bunk Gets US Broker Dealer License & JP Morgan’s AI for Performance Reviews
Timestamp: 52:17–61:00
Dutch Bank Bunk Expands to US
- Bunk’s new broker-dealer license will let it offer US stocks to American customers—part of a broader strategy for US and global expansion.
“This license means we can offer… investment options like stocks, ETFs… both for the US and beyond. It’s a big milestone for us, I think the industry as well.”
—Joe Wilson, Bunk (voice note, 53:36)
JP Morgan Lets Staff Use AI for Performance Reviews
- JPMorgan allows employees to use its internal AI suite, LLM Suite, to draft year-end reviews.
- Aim: Save time, but employees retain final responsibility.
“I think yes it will be a time saver for the manager, but with all things AI it’s reliant on good input data... The bigger signal is just the fact that... we are seeing large banks... adopting AI more to reduce operational inefficiencies...”
—Mei Lim, Anthemis (55:30)
“A good manager will use AI as a tool… and spend less time having to do the gathering... and more time actually talking to the employee which will result in a better outcome.”
—Bill Kennedy, Galileo (59:23)
Episode Structure and Flow
- Opening (Money2020 buzz, AI theme)
- In-depth story-by-story discussion
- Each story introduced, expert analysis and firsthand launch perspectives
- Quickfire round: extra industry headlines
- Closing: Guest contact info
Recurring Themes & Tone
- Balance and Trade-offs: Most discussions return to balancing user experience (frictionless, “magical” payments) with safety (fraud prevention, regulation).
- AI as Both Antagonist and Ally: AI is leveraged both by fraudsters and by those combating fraud; it enables both breakthrough user experiences and operational improvements.
- Industry Collaboration: A frequent call for shared threat intel, cross-industry partnerships, and open innovation.
“If we want to be optimistic about where we can go in the future, and we should not be islands, we should try to collaborate as much as possible.”
—Mei Lim, Anthemis (17:22)
Useful Timestamps
| Segment | Time | |-------------------------------------------------|-------------| | Starling AI Scam Tool | 03:58–17:58 | | Uber & Checkout.com Global Payments | 17:58–30:35 | | Southwest Airlines Debit Card / Galileo | 32:52–44:07 | | Citi & Coinbase Digital Asset Collaboration | 44:07–52:17 | | Bunk US Expansion, JP Morgan AI in HR | 52:17–61:00 |
Closing Takeaways
- AI is now table stakes in fraud prevention and payment optimization.
- Payment experience is increasingly a source of competitive advantage.
- Loyalty and financial inclusion strategies serve new demographics thanks to technology and data.
- Old and new finance are merging, with digital assets and traditional banking intertwining.
- Human judgment remains vital, even in an AI-enhanced workplace.
Where to Find the Guests
- Rory O’Neill: checkout.com
- Bill Kennedy: galileofinancial.com / sofi.com / LinkedIn
- Mei Lim: anthemis.com / commonai.org / LinkedIn
This summary captures the episode’s core news stories, expert insights, and memorable exchanges with clarity and precise pointers for further exploration. For professionals, founders, or anyone interested in where fintech is going, this episode illustrates the sector’s swift adaptation as AI and digital convergence become ever more fundamental.