In this episode of Fintech Confidential, host Tedd Huff sits down with Lynn Dufrane, the Executive Director of Sales at CheckAlt. They explore the unique partnership between fintech companies and traditional financial institutions, highlighting how these collaborations are changing the landscape of financial services. Lynn explains how her experience as a banker helps her understand both sides of the industry, making her a valuable asset at CheckAlt. One surprising topic they discuss is the enduring relevance of paper checks. Despite the rise of electronic payments, businesses wrote more checks in 2023 than in 2022. Lynn shares how CheckAlt is at the forefront of processing these payments efficiently while also offering new electronic solutions. They also talk about the growing opportunities in the healthcare sector for financial services. Lynn believes that both fintechs and banks should pay more attention to this field as it presents numerous opportunities for growth. The conversation shifts to how financial institutions can benefit from outsourcing tasks like lockbox processing to focus on more revenue-generating activities. Lynn provides examples of how CheckAlt helps banks and other businesses manage their payment processes smoothly. Another key point is the importance of seeing fintech companies as partners, not threats. Lynn emphasizes that successful companies are those that can collaborate and adapt quickly to new challenges. To sum up, this episode provides valuable insights into the current trends in financial services, the surprising persistence of paper checks, and the benefits of collaboration between fintechs and traditional financial institutions. Watch the entire episode on YouTube to get more insights from Lynn Dufrane on how CheckAlt is helping shape the future of payments. Key HighlightsYou Won’t Believe How Relevant Paper Checks Still Are! Discover why paper checks are far from dead. In fact, businesses wrote more checks last year than the year before. Find out why checks remain an important part of today’s payment methods. The Unexpected Partner: Fintechs and Banks Working Together Learn how fintech companies and traditional banks are becoming partners instead of competitors. This partnership is changing the way financial services are offered and improving customer experiences. Healthcare’s Hidden Goldmine for Financial Services Explore why the healthcare sector is a top opportunity for financial services. Banks and fintech companies can find great potential here, with a growing need for efficient payment solutions. Why Outsourcing Lockbox Processing Makes Sense Understand the benefits of outsourcing tasks like lockbox processing. This allows financial institutions to focus on more profitable activities and improves overall efficiency. The Real Reason Paper Checks Aren’t Going Anywhere Despite the rise of electronic payments, paper checks are still widely used. Learn why checks are here to stay and how they fit into the modern payment landscape. How Fintechs Are Helping to Fight Check Fraud Check fraud is a major concern for financial institutions. Find out how fintech companies are developing solutions to detect and prevent fraud, making transactions safer for everyone. A Fresh Look at Payment Processing Challenges Get insights into the common challenges faced by financial institutions when it comes to payment processing. Learn how new approaches and technologies are helping to overcome these obstacles. The Importance of Being Able to Pivot in Business Flexibility and the...