Snark Tank 2023 – Celebrating Fintech and Banking Excellency

Key Points:

  • The 2023 Fintech Snark Tank Banking and Fintech awards, announced recently, marks some of the greatest moments and biggest breakthroughs in the fintech sector over the past year.
  • Among the top winners were Panacea Financial, Jason Mikula, and Efi Pylarinou and Leda Glyptis.

The banking industry observed a slew of banking and fintech awards recently. The annual ceremony was hosted by cornerstone Advisors’ Gonzo Banker blog and marks various highs and lows in the fintech industry in the past year. The awards brought some invaluable insights into the past year’s banking and fintech activities.

One of the major awards, “The Worst Day of the Year”, was won by May 1, 2023, the day First Republic Bank failed. This followed the failures of Signature, Silicon Valley Bank, and Silvergate, sending out a survival panic throughout the banking domain.

The “Biggus Dickus” Award was bagged by an Esteemed Senator from Illinois who continued his assault on the industry’s capability to support safe and secure consumer and business payments based on unsupported interchange claims.

Despite concerns about credit quality and negative effects on lower-income consumers, Buy Now, Pay Later (BNPL) won the “We’re Not Dead Yet” Award. In addition to this, the “Work from Home” Award went to Ja Hillebrand, the CEO of Stock Yards Bank.

The Fintech Snark Tank also bestowed five banking and fintech awards. The “Best Neobank of the Year” award was won by Panacea Financial. Despite facing strong competition, Panacea has successfully established a neobank that does not solely rely on interchange for revenue. Panacea is profitable and has originated approximately $350 million in loans over the past two years.

The award for the Most and Least Impactful Product Launch of the Year was won by FedNow. Despite being in the early stages of rollout, FedNow’s faster payments capability has proved to be a significant milestone in the fintech space.

Other honorees included Jason Mikula, Fintech Business Weekly’s author, who won the Best Fintech Investigative Journalism award, and Efi Pylarinou and Leda Glyptis, who jointly received the Best Female Fintech Blogger award.

Moving forward, the awards served as a reminder of the constant change within the fintech sector and the numerous unsung heroes who contributed significantly to its growth in the past year.