Using AI to Tackle Banking and Credit Card Fees with Paul Kesserwani of Cushion | Soar Payments LLC
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Using AI to Tackle Banking and Credit Card Fees with Paul Kesserwani of Cushion

Banking and Credit Card fees have been frustrating consumers for years, particularly when they’re hidden. Fortunately, innovation through technology once again is now offering solutions.

Cushion is a service that aims to help consumers reduce or even eliminate these fees from their accounts. Listen along as Founder and CEO Paul Kesserwani joins to help explore the world of financial institution fees, and how Cushion leverages AI to address them.

Payments & Fintech Insights In This Episode

  • Why banking and credit card fees are so frustrating for consumers.
  • The story behind Cushion, and how they leverage AI to help individuals get relief from unreasonable fees, and manage their finances.
  • What the future of banking fees may look like, and why there’s significant pressure on banks to lower fees due to competition.
  • What Paul sees in the future of fintech, banking, and beyond.
  • With so much more!

Featured on the Show

Industry Spotlight

Cushion

“At Cushion, our goal is to help every customer waste less money, save more, and live a financially healthier life. We plan to arm every consumer with a digital CFO that can manage their finances for them, better than they can.

Our first product is tackling bank and credit card fees, a $200-billion problem in the U.S. annually. We leverage artificial intelligence, advanced fee-detection technology, and bank-level security to negotiate with the banks and credit card companies to put money back into people’s accounts—quickly, efficiently, securely, and automatically.

Our app supports 15,000 U.S. banks and credit unions, and detects dozens of fees, including overdraft and ATM fees, credit card interest charges, and more. To date, we have gotten our customers more than $6 million in refunds.

Cushion is backed by some of the best fintech funds, including Flourish Ventures and Vestigo Ventures, as well as the founders of companies such as NerdWallet, Funding Circle, and Earnest.”