Ep. 86: An Engine To Drive Data and Digitalization in Banking

Phill Rosen, CTO and Business Leader of MoneyLion, has a long history in digital finance and joins the podcast to share some of the changes digitalization is bringing to the financial world.

Through digitalization, consumers can get more out of their finances than what was possible with traditional banking. With the help of more advanced technology like artificial intelligence, consumers are able to get personalized financial tools and advice. While some consumers are still skeptical about digital banking, Phill has seen firsthand the benefits it can bring.

“A lot of things that were speculative recently as three to five years ago, and certainly dreams ten years ago, are premature and material building blocks as part of now what is a really well-developed ecosystem”

A big aspect of digitalization is data usage and analysis, but since financial data is very personal there are a few things to keep in mind. Phill emphasizes the importance of using data in a way that will be useful to the consumer, but that also follows industry regulations. In order to keep financial institutions out of risk with regulators, financial institutions must be clear about how consumer data will be used. Once this is figured out, financial institutions, and consumers, are able to see more meaningful returns.

“Now it’s about maturity when it comes to combining all of this infrastructure and data with business maturity, right, to really drive corporate results”

In the future, Phill is excited to see how digitalization will continue to rise in the financial world. As financial institutions become more familiar with the services and products available through digitalization, consumers can take advantage of their finances more than ever before.

Listen to this podcast to learn more about the digital banking world with Hunter and Phill.

More About Phill

Phill Rosen has nearly two decades of experience and is currently the Chief Technology Officer of MoneyLion and Business Leader of Engine by MoneyLion – Web Services. Previously, Phill was CEO and Founder of Even Financial for over five years (before it was acquired by MoneyLion in February of 2022), the award-winning embedded finance platform for enterprise businesses. He founded Even with the goal of filling the gaps that he identified in financial services acquisition.

A software engineer by training, Phill has worked with numerous startups in the intersection of data analytics, API-driven marketplaces, and ad-tech. Prior to launching Even, Phill co-founded Orchard Platform, an institutional investment platform for P2P and online lending, where he served as Vice President of Engineering.