Company: Lead Bank
Title:Â Co-founder, Chair & Chief Executive Officer
Industry: Financials
Hometown:Â Atlantic City, New Jersey
Notable in 2023: Pioneered a new tech-centric transformation of the banking system from the inside out.
When Jackie Reses became CEO of Lead Bank in 2022 by way of an acquisition, she had a goal of expanding access to financial products for tech startups and small businesses. Reses believed with her technical and regulatory expertise, the Kansas City-based banking-as-a-service company could become a leader in the industry and help usher banking into the tech age.
"In some cases, there's an abstraction layer to another set of clients underneath ... and [the banks] have no idea how to understand the data and analysis [of] who they're serving, why they're serving them and how their product works," Reses told Axios.
Prior to Lead, Reses held executive roles at Block's Square and Square Financial Services. She also led the media group for private equity firm Apax Partners and managed Yahoo's Asian assets, including helping Alibaba with its initial public offering.
It's been a fun journey to go from 'executive' to 'founder' as it's a deeper level of fear – but also satisfaction – from my previous day to day work. I feel the weight of every decision we make in a more visceral way.Jacqueline ResesCo-founder, Chair & Chief Executive Officer, Lead Bank
While the fintech industry may be facing rough times, Lead Bank has been growing and the company serves over 1 million customers. Lead Bank's revenue grew 9% quarter-over-quarter and its net profit increased 50% in the third quarter of 2023, with the story of Reses getting Forbes' cover attention.
Having an ownership profile in the banking industry is still rare for women, according to the Office of the Comptroller of the Currency.
"I do think we're going to change banking, and I think we're going to make it better for people in the United States, in ways that they see — and ways that they don't see," Reses said to Her Money.
Beyond Lead, Reses has deep knowledge across the fintech industry, serving on the board of directors at buy now, pay later lender Affirm and online international bank Nu Holdings.
Changemakers is an annual list spotlighting women whose accomplishments have left an indelible mark on the business world. Click here to view the full list and continuing coverage.
