Inside the BaaS Challenge: Battle Scars, Breakthroughs, and What’s Next

This inaugural Inside the Vault session was recorded live on the Money Pot stage at Money20/20 USA 2025. Tedd sits down with confidential informant Stephen, AnaLiza from First Bank of the Lake, and Rodrigo from Piedmont Bank to talk bluntly about Banking as a Service, embedded finance, and what happens when programs break under real pressure. The tone is direct, practical, and focused on what operators and sponsor banks actually care about when they decide who to work with. You hear why some BaaS programs never should have launched, how banks now review fintech partners with investor-style discipline, and what recent failures may signal about the next phase of sponsor bank risk. The group walks through real lessons from collapsed programs, missing funds, and weak unit economics, then ties those lessons to concrete steps you can take around funding, oversight, and unwind planning. If you care about BaaS, sponsor banks, or building a fintech that can survive a tougher market, this session is likely to shift how you prepare for your next partner meeting. 1️⃣ Pressure-test your BaaS idea Treat your concept like a risk team would, validate the use case, revenue model, and account growth with realistic numbers before you pitch a bank. 2️⃣ Use funding to build trust Show committed capital, sane burn, and a path beyond launch so a sponsor bank can see you are prepared to support customers for the long haul. 3️⃣ Plan for clean exits early Write reserves, unwind steps, and customer communication into your structure so a program failure does not turn into an emergency for the bank. 4️⃣ Align with bank operations Bring people, controls, and routines that fit how banks work so you feel like a responsible partner instead of another exception they must manage. 5️⃣ Budget past MVP to real scale Secure enough runway for product, compliance, and go-to-market through early scale, not just the first release, so you are less likely to stall when costs rise. Links: Fintech Confidential Youtube: https://youtube.com/@fintechconfidential Podcast: https://fintechconfidential.com/listen Newsletter: https://fintechconfidential.com/access LinkedIn: https://www.linkedin.com/company/fintechconfidential X: https://x.com/FTconfidential Instagram: https://www.instagram.com/fintechconfidential Facebook: https://www.facebook.com/fintechconfidential SUPPORTERS ABOUT AnaLiza Grandner is Executive Vice President and Chief Payments Officer at First Bank of the Lake, an internationally recognized leader in fintech banking with more than 17 years of experience. She leads the bank’s payments strategy and private-label banking efforts and has helped brands like Google Wallet, Chime, Varo, Simple, Seed, Walgreens, and Bento design and refine their products. Rodrigo Suarez is Chief Banking Officer at Piermont Bank, where he leads the bank’s high-growth client and payments businesses. He is responsible for product strategy, technology platforms, and channel delivery that support fast-moving entrepreneurial clients and keep the bank’s offering aligned with real market needs. Stephen Bishop is President of amBaaSsador, an education and advisory platform focused on embedded finance and Banking as a Service for banks and service providers. He previously held senior roles at OMB Bank building OMBX, as well as leadership positions at Jack Henry & Associates, Citi, and AT&T. Tedd Huff is the Founder and CEO of Voalyre and the creator and host of Fintech Confidential, with more than 26 years in fintech and payments advising startups and public companies on strategy, growth, and user experience. Fintech Confidential is a media platform of shows and newsletters that shares real operator stories about how money, risk, and technology products are built and scaled.Links: GuestAnaLiza Grandner: https://www.linkedin.com/in/algrandner/First Bank of the Lake: https://www.fblake.bankLinkedin: https://www.linkedin.com/company/first-bank-of-the-lakeRodrigo Suarez: https://www.linkedin.com/in/rodrigosuarezu/Piermont Bank: https://www.piermontbank.comLinkedin: https://www.linkedin.com/company/piermontbankHostsTedd Huff: https://www.linkedin.com/in/teddhuff/Fintech Confidential: https://fintechconfidential.comLinkedin: https://www.linkedin.com/company/fintechconfidentialStephen Bishop: https://www.linkedin.com/in/stephenbishop1/amBaaSsador: https://ambaassador.comLinkedin: https://www.linkedin.com/company/bankingambaassador Fintech ConfidentialYoutube: https://youtube.com/@fintechconfidential Podcast: https://fintechconfidential.com/listenNewsletter: https://fintechconfidential.com/accessLinkedIn: https://www.linkedin.com/company/fintechconfidentialX: https://x.com/FTconfidentialInstagram: https://www.instagram.com/fintechconfidentialFacebook: https://www.facebook.com/fintechconfidentialSupportersSkyflow: Data privacy vault that helps keep payment and personal data off your core systems and reduces PCI scope for your teams https://skyflowsecure.com Under: A Tool that turns static PDF applications into fast, sign-ready flows for underwriting, onboarding, and internal approvals https://under.io/ftc Hawk AI: Real-time transaction monitoring and payment screening that uses machine learning to reduce false positives and strengthen financial crime defenses https://gethawkai.com Guests AnaLiza GrandnerAnaLiza Grandner is the Chief Payments Officer at First Bank of the Lake and a widely recognized leader in fintech-focused banking with more than 17 years of experience. She leads the bank’s payments strategy and its private-label banking business, drawing on a career that spans both banks and high-growth fintechs. Her work has helped major brands such as Google Wallet, Chime, Varo, Simple, Seed, Walgreens, and Bento design, launch, and refine payments programs. Before joining First Bank of the Lake, she led Banking-as-a-Service efforts at Cross River Bank and has been a featured keynote speaker at multiple global industry events.First Bank of the LakeFirst Bank of the Lake is a nationally active SBA lender with deep expertise in government-backed small business financing. From its roots in Osage Beach, Missouri, it has grown into one of the top SBA 7(a) and 504 lenders in the country, funding thousands of loans and more than a billion dollars in capital for businesses across the United States. The bank focuses on tailored SBA solutions, strong customer relationships, and a high-touch approach that helps business owners secure the funding they need to grow.Rodrigo SuarezRodrigo Suarez is the Chief Banking Officer at Piermont Bank, where he is responsible for keeping the bank ahead in modern product delivery and client service. He oversees the innovation-focused banking and payments lines of business and leads strategies that support fast-growing, entrepreneurial clients. Rodrigo also manages product development, technology applications, and channel delivery so that the bank’s offerings stay aligned with the needs of scale-ups and high-growth companies.Piermont BankPiermont Bank is a tech-forward commercial bank built for startups, scale-ups, and modern mid-market businesses. The bank focuses on fast decisions, flexible structures, and banking solutions designed around the pace of high-growth companies. It combines experienced bankers with modern technology to offer tailored lending, payments, and treasury services that help clients move from early growth to larger scale without getting stuck in rigid legacy processes.Confidential InformantStephen BishopStephen “Steve” Bishop is the President of amBaaSsador, an education and advisory platform focused on embedded finance and Banking-as-a-Service for both financial institutions and service providers. He previously led strategic growth and new initiatives at OMB Bank as Chief Operating Officer and Chief Innovation Officer, where he also helped create and build OMBX, the bank’s embedded finance brand. His background includes senior roles at Jack Henry & Associates, Citi, and AT&T, and he holds graduate degrees in operations, finance, strategy, and information management from Washington University in St. Louis.amBaaSsadoramBaaSsador is a strategic advisory and ecosystem platform dedicated to helping banks, fintechs, and service providers succeed in embedded finance and Banking-as-a-Service. The firm focuses on clear education, practical strategy, and curated connections, giving clients a neutral place to understand market shifts and choose a path that fits their goals. Its work spans consulting, community programs, training, events, and research, all designed to turn complex BaaS questions into...