Fintech Corner
May 10, 2023
E11 - Starting the First Online Bank, S1, with John Philpott
Back in ‘95, the first internet bank opened its virtual doors. Little did its founders know they would be laying the foundations for all modern banking and fintech as we know it. In this Fintech Corner episode, JD and Brett interview John Philpott, the third employee of the bank turned software company, S1. He shares his story as an internet banking pioneer and how the innovations back then mirror the innovations we see in fintech today.
Highlights:
* How S1 moved the banking industry online and built trust
* Two major hurdles S1 overcame to get its first customers
* What it was like to tackle the first online payment service
* Major fintech innovations that John believes banks should keep an eye on today
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About Joseph “JD” Drambarean:
JD is Trovata’s Chief Product Officer. Previously, he served as a Director of Strategy with the mobile app design firm, Punchkick Interactive. There, he was responsible for developing roadmaps and executing global product launches for brands like Marriott International, Allstate Insurance, and Harley-Davidson. He later served as a Senior Manager in Capital One’s Digital Product Management team. Joseph is a Chicago native, and graduated with a BA in Political Science & Economics from Loyola University of Chicago.
Connect with JD on LinkedIn: https://www.linkedin.com/in/jdrambarean
About Brett Turner:
After starting his career as a CPA with the Deloitte audit practice, Brett gained progressive experience in corporate finance and accounting managing SEC reporting for Amazon and then becoming VP of Finance for Worldwide Packets (sold for $300M+ in 2008). Across his last three roles as a startup Co-Founder / CFO, Brett has raised over $100M in equity and venture debt financing while helping create over $500M in shareholder value. Today, he is the founder and CEO of the cash management platform, Trovata. Brett is a Seattle native, with a BA in Finance from Seattle Pacific University.
Connect with Brett on LinkedIn: https://www.linkedin.com/in/brett-turner/
About John Philpott:
John Philpott began his career as one of the founding team members of S1 Corporation (NASDAQ: SONE). S1 originated as the creator of the World's First Internet Bank, SFNB, and grew to over $200mm in annual revenue. While at S1, John served in a variety of roles including SVP and GM of S1's International Business unit. Following S1, John helped found a multi-family family office and asset management firm. Most recently, John served as the Chief Executive Officer of Interactive Advisory Software, a practice management and technology firm for the wealth management industry, representing over $70b in reportable assets. John holds a degree from Davidson College and lives with his family in Nashville, TN.
Connect with John on LinkedIn: https://www.linkedin.com/in/philpottjohn/