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Episode E103 - Katie Quilligan - BankTech Ventures

Female VC Lab Podcast Episode 103

Author

Barbara Bickham
August 16, 2024

Hi Impactful listener!

In this insightful episode of the Female VC Lab Podcast, host Barbara Bickham sits down with Katie Quilligan to discuss her journey from an operator role to a venture capitalist at BankTech Ventures. Katie shares her passion for supporting female founders, the innovative strategies of BankTech Ventures, and her perspectives on the evolving landscape of venture capital.

Key Points Discussed

  • Katie's journey to venture capital and her inspiration to support female founders.

  • The thesis and mission of BankTech Ventures to bridge traditional community banking with modern technology solutions.

  • The potential and challenges of integrating AI solutions in the banking sector.

  • The evolving landscape of venture capital with a balance of innovation and fundamental business practices.

  • Katie's engagement with educational resources and conferences to stay updated in the fintech industry.

🎧 Watch the Episode

Chapters

  • [00:00:00]: Introduction

  • [00:00:19]: Katie's background and inspiration to become an investor

  • [00:01:53]: The thesis and mission of BankTech Ventures

  • [00:04:11]: AI integration and challenges in the banking sector

  • [00:12:04]: Future of venture capital and investing

  • [00:15:53]: How to contact Katie

Full Topic Guide

The Journey to Venture Capital

Katie Quilligan shifted from an operator role, working with startups and larger corporations like American Express, to venture capital to make a tangible difference in the funding gap for female founders. Recognizing the disparity in funding, she pursued an MBA to build her financial skills and worked under influential VC leaders like Petra Griffith. Today, as an investor at BankTech Ventures, Katie continues to champion diversity in entrepreneurship.

BankTech Ventures' Mission and Thesis

BankTech Ventures positions itself as a strategic fund backed by over 100 community banks. Launched in November 2021, the fund aims to merge traditional community banking with cutting-edge fintech solutions. Katie explains how the fund acts as the research and development arm for community banks, providing market intelligence and introducing effective solutions from front-office applications, like loan origination software, to back-office compliance tools.

AI Integration in Banking

Katie highlights the substantial data banks have and the potential for AI to enhance both front-office and back-office operations. She discusses the practical use cases of AI, such as creating marketing copy and documenting processes, to improve efficiency. However, the regulatory landscape poses significant challenges. Katie advises banks to treat AI like an intern, ensuring human oversight and maintaining compliance to avoid any missteps.

The Evolving Landscape of Venture Capital

Katie is optimistic about the future of venture capital, envisioning a balance between high valuations and fundamental business practices. She emphasizes the importance of companies focusing on sustainable margins and scalability rather than just innovation. Katie also predicts that AI will become an integral part of all solutions, contributing to a more digital infrastructure.

Educational Engagements

To stay ahead in the rapidly evolving fintech industry, Katie engages with various educational resources. She listens to podcasts, attends webinars, subscribes to newsletters, and participates in conferences. Recently, her focus has been on understanding AI's role in banking and how to leverage it responsibly.

Notable Quotes

  1. "Women are just not getting the same funding. And even now, we know that. Still true."

  2. "Let's have this shift of it's not gonna take your job. It's gonna take away the tasks you don't wanna do."

Fun Facts or Interesting Tidbits

  • Katie worked under Petra Griffith at Wedbush Ventures before joining BankTech Ventures.

  • Community banks are responsible for over 60% of small business loans and 80% of agricultural loans in the U.S.

  • Katie views AI in banking as an intern, providing efficiencies while maintaining human oversight.

Episode Resources: Reading, Listening and Learning

1. Podcasts, Webinars, and Newsletters on Banking and Fintech

While no specific names were mentioned, Katie Quilligan highlighted the importance of staying updated on the banking and fintech industry through various podcasts, webinars, and newsletters. Here are some highly recommended ones:

2. AI Use in Banking Industry

Katie discussed attending various banking conferences that focus on AI applications within banking. For similar conferences and resources:

3. Industry Reports and Documents

For staying updated with industry trends and market intelligence:

4. Books on AI and Fintech Innovation (additional resources to deepen understanding)

"AI Superpowers: China, Silicon Valley, and the New World Order" by Kai-Fu Lee - Amazon

"Bank 4.0: Banking Everywhere, Never at a Bank" by Brett King - Amazon

Katie Quilligan is a leading fintech investment expert at Bank Tech Ventures, specializing in sourcing innovative bank-enabling technologies. With a background in seed-stage funding and roles at American Express, Katie excels in driving investment growth and fostering innovation.

Fund Information

BankTech Ventures invests in technology that supports community banks, fostering collaboration and advancing the banking sector through innovative solutions.

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If you enjoyed this episode, subscribe to the Female VC Lab Podcast for more insights from leading female investors shaping the future of venture capital. Share this episode with someone who would benefit from their impactful stories and vision.

Got thoughts on this episode? Hit reply and let me know! I’d love to hear from you. 💌

Best,
Barbara

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