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What Happens to Your Money When an Account Goes Dormant? With Eisen CEO Allen Osgood
Description
In this episode of This Week in Fintech Partnered, Nik Milanovic sits down with Allen Osgood, founder and CEO of Eisen, to unpack one of the seemingly least glamorous but most important parts of financial infrastructure: what happens when customer accounts go dormant.
Allen explains the world of escheatment, the process that can require financial institutions to hand abandoned assets over to state governments after a period of inactivity. States are currently holding around $70 billion in unclaimed property, and for banks, brokerages, crypto platforms and fintechs, navigating dozens of different state rules can quickly become a major operational and compliance problem.
The conversation gets into why Eisen is focused on preventing accounts from reaching that point in the first place, how outdated customer information can lead to assets being liquidated without their owners realizing it, and why crypto has made the problem even more complicated. Allen also shares how Eisen works with companies like Coinbase, Binance.US and other financial institutions to automate account offboarding, outreach and regulatory workflows at scale.
Nik and Allen also discuss Eisen’s new Tax Center, the coming challenge of backup withholding for crypto platforms, and how AI could dramatically increase the number of financial accounts that institutions need to manage. They also get into where AI can help automate the back office, and where regulated financial services still demands systems that are deterministic, tested and 100 percent reliable.
This is a sponsored episode of This Week in Fintech Partnered, produced in partnership with Eisen.
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About This Week in Fintech
This Week in Fintech’s Podcast is where the decision makers shaping the future of finance come to talk candidly about what’s working, what’s breaking, and what’s coming next in fintech. The show goes beyond headlines to unpack the real stories behind product decisions, regulation, and market shifts with leading founders, C-suite execs, and ecosystem veterans. This is your front-row seat to the people and ideas moving money into the future.