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Alloy, Synctera and Unit discuss the future of embedded finance at TC Disrupt on August 25, 2023 at 3:00 pm

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Banking-as-a-service (BaaS), embedded finance and open banking are among the hottest topics in fintech today. The promise? Make opening a bank account, storing money, receiving a payment card and lending money as easy as opening a social network account.

The reinvention of banking is well underway, and we’re excited to welcome three key players — Peter Hazlehurst, co-founder and CEO, Synctera; Laura Spiekerman, co-founder and president, Alloy; and Amanda Swoverland, chief compliance officer, Unit — to the Fintech Stage on September 19 at TechCrunch Disrupt 2023.

In a session called “Making Money Move with Embedded Finance,” our panel will talk about how a new breed of finance infrastructure companies have the potential to turn any company into a fintech company.

Despite a roller-coaster year that featured mergers, acquisitions and layoffs, the BaaS sector is huge and expected to be worth almost $66 billion by 2030. Venture dollars continue to flow. This past March, Synctera raised $15 million to launch embedded products in Canada.

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In May 2022, Unit closed a $100 million round with a $1.2 billion valuation, and in September, Alloy raised $52 million at a $1.55 billion valuation — just 11 months after raising $100 million at a $1.35 billion valuation.

With millions of dollars in funding — and billions of dollars in market potential — flying around, we’re eager to hear our panelists’ take on how a new wave of finance infrastructure startups are reinventing the way financial services are created, distributed and sold.

Learn more about our speakers — and their qualifications for tackling this timely topic — below.

Peter Hazlehurst: Synctera co-founder and CEO

Peter Hazlehurst is a global fintech entrepreneur and philanthropist with nearly 30 years of experience creating financial products for banks, fintechs and large tech companies. In 1993, he built core banking technology for Phoenix, which still powers companies today.

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More recently, Hazlehurst served as head of Uber Money, chief operating officer at Postmates, senior director of product management at Google, CEO and board member of Google Payments Corporation and chief product officer at Yodlee. He also led the product team at Nokia for enterprise mobility and mobile email, and he has served as a CTO and consultant at several startups.

Laura Spiekerman: Alloy co-founder and president

In 2021, Laura Spiekerman was recognized by Crain’s New York as a Notable Woman on Wall Street. Prior to Alloy, she led business development and partnerships at an ACH payments startup. Spiekerman was also on the research and investment team at Imprint Capital Advisors (acquired by Goldman Sachs). A proud Barnard College alumna, she lives in Berkeley, California.

Amanda Swoverland: Unit chief compliance officer

Amanda Swoverland has built her career at the intersection of risk, compliance and innovative financial service solutions. She has more than 20 years of experience as a bank examiner, consultant, BSA officer and compliance officer.

Prior to joining Unit, Swoverland led a team of compliance and risk professionals at Sunrise Bank, where she served as the chief risk officer. During her time at Sunrise Bank, she helped transform the organization into a highly regarded sponsor bank, serving clients like Remitly, Gusto and Self Lender. Swoverland is a regular speaker at fintech conferences, including LendIt and Finext.

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TechCrunch Disrupt 2023 takes place on September 19–21 in San Francisco. Tickets will sell out. Buy your pass now and save $400 before prices go up at the door. For a limited time, when you book your Disrupt hotel room at the Hyatt Regency San Francisco Downtown SOMA, you’ll automatically be eligible to enter a raffle for a chance to win two spots for you and a guest to attend the exclusive TechCrunch Disrupt Speakers & Editors Dinner. Book your room today. More hotel raffle details here.

Is your company interested in sponsoring or exhibiting at TechCrunch Disrupt 2023? Contact our sponsorship sales team by filling out this form.

​ Banking-as-a-service (BaaS), embedded finance and open banking are among the hottest topics in fintech today. The promise? Make opening a bank account, storing money, receiving a payment card and lending money as easy as opening a social network account. The reinvention of banking is well underway, and we’re excited to welcome three key players — 

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US May Completely Cut Income Tax Due to Tariff Revenue

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President Donald Trump says the United States might one day get rid of federal income tax because of money the government collects from tariffs on imported goods. Tariffs are extra taxes the U.S. puts on products that come from other countries.

What Trump Is Saying

Trump has said that tariff money could become so large that it might allow the government to cut income taxes “almost completely.” He has also talked about possibly phasing out income tax over the next few years if tariff money keeps going up.

How Taxes Work Now

Right now, the federal government gets much more money from income taxes than from tariffs. Income taxes bring in trillions of dollars each year, while tariffs bring in only a small part of that total. Because of this gap, experts say tariffs would need to grow by many times to replace income tax money.

Questions From Experts

Many economists and tax experts doubt that tariffs alone could pay for the whole federal budget. They warn that very high tariffs could make many imported goods more expensive for shoppers in the United States. This could hit lower- and middle‑income families hardest, because they spend a big share of their money on everyday items.

What Congress Must Do

The president can change some tariffs, but only Congress can change or end the federal income tax. That means any real plan to remove income tax would need new laws passed by both the House of Representatives and the Senate. So far, there is no detailed law or full budget plan on this idea.

What It Means Right Now

For now, Trump’s comments are a proposal, not a change in the law. People and businesses still have to pay federal income tax under the current rules. The debate over using tariffs instead of income taxes is likely to continue among lawmakers, experts, and voters.

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Epstein Files to Be Declassified After Trump Order

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Former President Donald Trump has signed an executive order directing federal agencies to declassify all government files related to Jeffrey Epstein, the disgraced financier whose death in 2019 continues to fuel controversy and speculation.

The order, signed Wednesday at Trump’s Mar-a-Lago estate, instructs the FBI, Department of Justice, and intelligence agencies to release documents detailing Epstein’s network, finances, and alleged connections to high-profile figures. Trump described the move as “a step toward transparency and public trust,” promising that no names would be shielded from scrutiny.

“This information belongs to the American people,” Trump said in a televised statement. “For too long, powerful interests have tried to bury the truth. That ends now.”

U.S. intelligence officials confirmed that preparations for the release are already underway. According to sources familiar with the process, the first batch of documents is expected to be made public within the next 30 days, with additional releases scheduled over several months.

Reactions poured in across the political spectrum. Supporters praised the decision as a bold act of accountability, while critics alleged it was politically motivated, timed to draw attention during a volatile election season. Civil rights advocates, meanwhile, emphasized caution, warning that some records could expose private victims or ongoing legal matters.

The Epstein case, which implicated figures in politics, business, and entertainment, remains one of the most talked-about scandals of the past decade. Epstein’s connections to influential individuals—including politicians, royals, and executives—have long sparked speculation about the extent of his operations and who may have been involved.

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Former federal prosecutor Lauren Fields said the release could mark a turning point in public discourse surrounding government transparency. “Regardless of political stance, this declassification has the potential to reshape how Americans view power and accountability,” Fields noted.

Officials say redactions may still occur to protect sensitive intelligence or personal information, but the intent is a near-complete disclosure. For years, critics of the government’s handling of Epstein’s case have accused agencies of concealing evidence or shielding elites from exposure. Trump’s order promises to change that narrative.

As anticipation builds, journalists, legal analysts, and online commentators are preparing for what could be one of the most consequential information releases in recent history.

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Politics

Netanyahu’s UN Speech Triggers Diplomatic Walkouts and Mass Protests

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What Happened at the United Nations

On Friday, Israeli Prime Minister Benjamin Netanyahu addressed the United Nations General Assembly in New York City, defending Israel’s ongoing military operations in Gaza. As he spoke, more than 100 delegates from over 50 countries stood up and left the chamber—a rare and significant diplomatic walkout. Outside the UN, thousands of protesters gathered to voice opposition to Netanyahu’s policies and call for accountability, including some who labeled him a war criminal. The protest included activists from Palestinian and Jewish groups, along with international allies.

Why Did Delegates and Protesters Walk Out?

The walkouts and protests were a response to Israel’s continued offensive in Gaza, which has resulted in widespread destruction and a significant humanitarian crisis. Many countries and individuals have accused Israel of excessive use of force, and some international prosecutors have suggested Netanyahu should face investigation by the International Criminal Court for war crimes, including claims that starvation was used as a weapon against civilians. At the same time, a record number of nations—over 150—recently recognized the State of Palestine, leaving the United States as the only permanent UN Security Council member not to join them.

International Reaction and Significance

The diplomatic walkouts and street protests demonstrate increasing global concern over the situation in Gaza and growing support for Palestinian statehood. Several world leaders, including Colombia’s President Gustavo Petro, showed visible solidarity with protesters. Petro called for international intervention and, controversially, for US troops not to follow orders he viewed as supporting ongoing conflict. The US later revoked Petro’s visa over his role in the protests, which he argued was evidence of a declining respect for international law.

BILATERAL MEETING WITH THE PRIME MINISTER OF ISRAEL Photo credit: Matty STERN/U.S. Embassy Jerusalem

Why Is This News Important?

The Gaza conflict is one of the world’s most contentious and closely-watched issues. It has drawn strong feelings and differing opinions from governments, activists, and ordinary people worldwide. The United Nations, as an international organization focused on peace and human rights, is a key arena for these debates. The events surrounding Netanyahu’s speech show that many nations and voices are urging new action—from recognition of Palestinian rights to calls for sanctions against Israel—while discussion and disagreement over the best path forward continue.

This episode at the UN highlights how international diplomacy, public protests, and official policy are all intersecting in real time as the search for solutions to the Israeli-Palestinian conflict remains urgent and unresolved.

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