Interview with Trey Maust: Banking Innovation Through Partnerships and Trust

Mighty Finsights

Interview with Trey Maust: Banking Innovation Through Partnerships and Trust

Host - Rory Holland

Interviewed - Trey Maust

This Episode

Back in 2006, Trey Maust and Jeff Sumpter started Lewis & Clark Bank–a traditional commercial bank that has embraced banking innovation and evolved to work with third parties to explore new frontiers in banking. In this chat, Trey explains the concept of bankerpreuner: a neologism they coined. He then goes over his own professional history before highlighting how Lewis & Clark has formed strategic partnerships to provide unique banking solutions. The bank focuses on serving clients who value input from experts and are open to soliciting advice from their bankers, attorneys, and CPAs. Trey also shares his view on the future of banking: a critical infrastructure that supplies banking functions and ensures secure and compliant financial services.

Key Takeaways

1. Since 2006, Lewis & Clark Bancorp has evolved from a traditional commercial bank to embrace strategic partnerships.
2. The bank focuses on serving clients who value input from experts and are open to soliciting advice from their bankers, attorneys, and CPAs.
3. Regulatory challenges are a significant obstacle for the bank, but they prioritize compliance and recognize the value of maintaining trust and confidence in the banking system.
4. Trey believes that working with established banks that have successfully navigated the fintech space can provide valuable insights and guidance for newcomers.
5. For Trey, banking is a critical infrastructure that supplies banking functions and ensures secure and compliant financial services.

Chapters

00:00 Introduction and Background

05:34 Exploring the Possibilities of the Bank Charter

10:26 Targeting Unique Solutions and Verticals

15:02 Balancing Stability and Innovation in Banking

About Mighty Finsights

This is 'Mighty Finsights,' the podcast where finance meets formidable insights and spirited storytelling. Each episode offers a deep dive into the challenges and achievements that define the financial landscape, providing valuable lessons in finance, innovation, and resilience. Tune in for an experience that brings finance to life through the voices of its most influential leaders.