The FinTech Report Podcast: Episode 49: Interview with Mac Duncan, Co-Founder, Constantinople
What’s wrong with Banks? Too many people managing too many complex IT systems for starters
https://www.buzzsprout.com/1643860/15123922
https://fintechsummit.com.au/the-fintech-report-podcast/
The next wave of innovation in banking and financial services will be in the bank’s core technology/IT operations; many of which are run as separate systems, with many old legacy systems, with an over reliance on people to manage the integrations as well as the compliance. A new wave of software companies are now starting to disrupt and change this outdated structure. Hear from Mac Duncan, the Co-Founder of Constantinople on how they are changing banking, starting with the first client, Great Southern Bank.
Constantinople is the first of its kind: an all-in-one software and operational platform for banks. Constantinople hosts and manages your bank’s customers directly on their cloud native infrastructure. they support a full range of banking products which are branded as the company name, together with all operational services needed to run a bank.
Constantinople’s state-of-the-art platform frees banks from running expensive infrastructure and replaces manual operational and compliance processes with automation at scale. By removing the operational complexity of banking, Constantinople allows banks to focus on customers and the business of banking.
In this episode we discuss:
- Mac Duncan’s background; influences in banking & fintech
- The vision for Constantinople? What is the story behind Constantinople? Why did you and Di want to start it?
- Do you call yourself a fintech? Bank tech? do definitions matter?
- Money raised to date, various rounds, which VCs / angels etc
- Will you be global? Can all fintechs plan to be global from Australia?
- Foundation client? Is focus on SMEs and lending? What is the brief you have to deliver on?
- Your point of difference. Point solutions vs end-to-end solutions; whats the story here? What is a core banking platform? What do you do that is over and above the core banking?
- It’s a very competitive field. Who are the competitors?
- How do you serve banks who want to be flexible? Flexible on products, pricing, reg, distribution – what other factors?
- How are you creating a GREAT culture? (ie so people want to work in tech and not in banks)
