reSee.it Podcast Summary
‘We built the bank we wanted to see in the world,’ Jackie Reses says, describing Lead Bank. She started her career at Goldman Sachs, then moved into entrepreneurial roles, loving math and building new products. She comes from an entrepreneurial family, left high school to work, put herself through college, and credits Wharton with shaping her network and career.
Iron core of her leadership: outcomes over titles. 'I focus on not the work they're doing, but the outcomes they drive,' she says, and describes hiring as discovering innate skills beyond resumes: 'I focus on what I think the person's innate skills are as a human, not what jobs they've had in the past.' She uses case studies, personal life goals, and honesty to assess fit.
She discusses building teams at Square and Lead Bank, rejecting micromanagement, and promoting a culture of hard work and high performance. 'I don't micromanage... I focus on outcomes,' and she notes the value of scrappy, ambitious people, 'people who have the passion, the grit and are inspired by what we're doing.' She recalls COVID PPP volunteer effort as a proof point for mission-driven culture.
Crypto, regulation, and fintech in the interview: she discusses crypto winters, regulatory clarity, and the Fed. 'Regulatory oversight is probably the most important thing for the crypto industry today.' She emphasizes openness with regulators to build credibility, 'we work with crypto companies... explaining the products' risks.' She envisions consolidation in fintech via M&A, and argues incumbents must disrupt themselves; 'the most important thing is staying disciplined and focused on long-term operations.'
Future of Lead Bank: 'will be one of the biggest innovators in fintech infrastructure,' aiming for multi-country expansion and a full slate of banking services designed for compliance and safety.