Banking Transformed with Jim Marous

Evergreen Podcasts

Are you prepared to embrace change, take risks and disrupt yourself in response to the digital disruption in banking? If not, this podcast is for you. Hosted by top 5 banking and fintech influencer, Jim Marous, Banking Transformed highlights the leadership and cultural challenges facing the banking industry. Featuring interviews with some of the top minds in business, this podcast explores how financial institutions can prepare for the future of banking.

All Episodes

The X1 credit card harnesses the power of technology to offer higher credit limits, an aggressive rewards program, and unique automated features driven by a mobile app. Created by Twitter alums Deepak Rao and Siddharth Batra, and supported by PayPal co-founder Max Levchin and Instagram’s former head of product, Kevin Weil, the X1 card targets younger consumers who want a tech-savvy, elegantly designed stainless steel card. At introduction, there was a 350,000 person waitlist for the card. I’m excited to have Siddharth Batra, co-founder of X1 Card on the Banking Transformed podcast. He discusses the strategy behind introducing a new credit card to an underserved segment and the potential for growth beyond payments. This episode of Banking Transformed is sponsored by FIS. GoCart recognizes email addresses and lets consumers pay quickly anywhere – with no passwords and no long forms. Consumers can pay faster for anything – even things they wouldn’t expect like healthcare, processional services, and more. GoCart goes beyond online checkout and allows consumers to pay easily by email, text, or with QR codes.  Find out how you can use GoCart to simplify payments and increase your sales at GoCartpay.com/podcast.   FIS. Advancing the way the world pays banks and invests.

Nov 30

32 min 26 sec

The importance of a digital banking platform that is flexible, powerful and affordable has never been more important. Banking organizations of all sizes are partnering with solution providers that can help them catch up with a marketplace that has never moved faster. Financial institutions must find solutions that are built for banking, can be deployed quickly, and can be scaled in a manner that allows for building new products and services at digital speed. Our guest on the Banking Transformed Podcast is Michael Coghlan, founder and CEO of BrightFi. We discuss how BrightFi partners with regional and community banks to deliver affordable, cloud-based technology-enabled financial solutions. This episode of Banking Transformed is sponsored by BrightFi BrightFi’s mission is to build stronger communities through better banking by delivering financial technology and operations solutions to community banks and credit unions. Our solution is a ready-to-deploy digital banking infrastructure that is low-cost and reliable. We help financial institutions of all sizes grow revenues, reduce OPEX and ultimately delight and grow within their communities by meeting them where they are on the path to digital transformation.   Visit brightfiservices.com/jm

Nov 24

33 min 51 sec

In March of 2021, Square Financial Services officially launched its bank after receiving its Industrial Loan Company license from the FDIC a year prior. The Salt Lake City-based bank, is owned by Square, a fintech worth more than all but four US banks according to the KBW Bank Index. Square Financial Services will offer banking services like deposits and other products, initially to service a nationwide market of small businesses, many that already operate on the Square payment processing platform. I’m excited to have Square Financial Services CEO, Lewis Goodwin on the Banking Transformed podcast. He discusses the strategy behind building a bank to serve small businesses and the challenges facing fintech players in North America. This episode of Banking Transformed is sponsored by FIS. GoCart recognizes email addresses and lets consumers pay quickly anywhere – with no passwords and no long forms. Consumers can pay faster for anything – even things they wouldn’t expect like healthcare, processional services, and more. GoCart goes beyond online checkout and allows consumers to pay easily by email, text, or with QR codes. Find out how you can use GoCart to simplify payments and increase your sales at GoCartpay.com/podcast. FIS. Advancing the way the world pays banks and invests.

Nov 23

36 min 57 sec

Every financial institution must evaluate how to adapt technology strategies to support business change, operational resiliency and digital response. More than ever, the ability to innovate at speed and scale has become a core competitive requirement. In this year’s Digital Banking Report, 'Innovation in Retail Banking 2021', sponsored by Infosys Finacle and Efma, it was found that innovation is beginning to take center stage at many financial institutions. Our guests on the Banking Transformed podcast are Sanat Rao, CEO of Infosys Finacle and Miguel Rio-Tinto, Group CIO and CDO at Emirates NBD. We will discuss the increase in innovation and digital transformation maturity at financial institutions and what still needs to be done. This episode of Banking Transformed is sponsored by FIS. GoCart recognizes email addresses and lets consumers pay quickly anywhere – with no passwords and no long forms. Consumers can pay faster for anything – even things they wouldn’t expect like healthcare, processional services, and more. GoCart goes beyond online checkout and allows consumers to pay easily by email, text, or with QR codes. Find out how you can use GoCart to simplify payments and increase your sales at GoCartpay.com/podcast. FIS. Advancing the way the world pays banks and invests.

Nov 16

52 min 27 sec

Most core banking operations run on aging platforms that were deployed in the 1980s and 1990s. These platforms are either homegrown or heavily customized since their origination. The needs of the digital consumer and functionality required by banks going forward require solutions that enable and support the digital transformation journey of financial institutions that are endeavoring to become future-ready. Our guest on the Banking Transformed Podcast is Michael Haney, Head of Digital Core at Technisys. We will discuss the steps needed to modernize current core platforms and how firms are implementing these solutions. This episode of Banking Transformed is sponsored by Technisys Technisys is the next-gen digital banking platform that redefines the customer experience. Our unique end-to-end digital backbone enables financial institutions to create and deliver financial products, dynamically, at every customer touchpoint. Giving banks and fintechs the agility to tailor offerings that become integral to a customer’s lifestyle in new and profound ways, down to the segment of one. For more information visit technisys.com

Nov 11

43 min 31 sec

Recent events have put a spotlight on the urgent need for financial institutions to advance financial inclusion initiatives. Beyond responding to recent regulatory developments to provide economic opportunities to underserved and unserved sectors, there also a strong business case for banks and credit unions to align purpose and profits. That said, is the banking industry doing more than simply talking about meeting the needs of the underserved market? We are joined on the Banking Transformed podcast by Courtney Davis, Banking Principal at Deloitte. We discuss the strategic business imperatives that serve the greater good through financial inclusion, and the progress being made by the banking industry. This episode of Banking Transformed is sponsored by FIS.  GoCart recognizes email addresses and lets consumers pay quickly anywhere – with no passwords and no long forms. Consumers can pay faster for anything – even things they wouldn’t expect like healthcare, processional services, and more. GoCart goes beyond online checkout and allows consumers to pay easily by email, text, or with QR codes.  Find out how you can use GoCart to simplify payments and increase your sales at GoCartpay.com/podcast.   FIS. Advancing the way the world pays banks and invests.

Nov 9

37 min 58 sec

In lending, the best offer usually wins. While some consumers still make the decision based on rate, an increasing number base their borrowing decision on the speed and simplicity of the process. S&P Global Market Intelligence expects U.S. digital lender origination volumes to grow at a compound annual rate of 26% between 2021 and 2025. This is driven mostly by fintech lenders that make borrowing fast and easy. We are joined on the Banking Transformed podcast by Deepak Polamarasetty, Co-Founder and CEO of CreditSnap and Tom Allman, Chief Strategy Officer of NASA Federal Credit Union. We discuss how the advances in the latest technologies, coupled with strategic deployment of the latest techniques has disrupted the lending marketplace. This episode of Banking Transformed is sponsored by Creditsnap CreditSnap is on a mission to enable Credit Unions, Banks and Digital Lenders to accelerate their digital enablement. Our next generation Lending and Account Opening customer journeys enable 100% digitization while integrating into your current solutions. Features include 1) Lending with "No Credit Impact", 2) Instant Lending and Deposit Account Offers, 3) Instant Account Opening, and 4) Personalized Cross-Sell Offers. For more information visit creditsnap.com

Nov 4

33 min 52 sec

The banking industry is in the midst of an exciting revolution in which power has shifted from the financial institution to the consumer. Consumers are impacting the entire customer journey, from the buying process, through customer engagement, and on to loyalty. At the core of this marketing revolution is the use of data, analytics and technology to drive results. One of the most important technologies needed to enable advanced marketing is the cloud. We are very fortunate to have Garry Capers, Division President of Cloud Solutions at Deluxe with us on the Banking Transformed podcast. He will discuss some of the major changes in bank marketing today and what must be done to prepare for marketing transformation. This episode of Banking Transformed is sponsored by FIS. GoCart recognizes email addresses and lets consumers pay quickly anywhere – with no passwords and no long forms. Consumers can pay faster for anything – even things they wouldn’t expect like healthcare, processional services, and more. GoCart goes beyond online checkout and allows consumers to pay easily by email, text, or with QR codes. Find out how you can use GoCart to simplify payments and increase your sales at GoCartpay.com/podcast.  FIS. Advancing the way the world pays banks and invests.

Nov 3

42 min 57 sec

With consumers spending an average of 7.5 hours a day on various media platforms, ‘convenience’ in banking must now expand beyond store-centric factors to delivering digital convenience, with speed, simplicity, and empathy. Increasingly. consumers and employees expect a greater value proposition from their financial institution that will instill loyalty and support a broader brand promise. We are very fortunate to have Tyrrell Schmidt, U.S. Chief Marketing Officer for TD Bank on the Banking Transformed podcast. She discusses how TD’s established brand promise and purpose has translated at a time of marketplace disruption. This episode of Banking Transformed is sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices This episode of Banking Transformed is sponsored by PayPal:  This podcast episode is being presented in partnership with PayPal. PayPal provides access to more than 403 million active global accounts and multiple buy now, pay later offers in a single integration. PayPal Pay in 4 enables shoppers to make purchases in four interest-free payments. Customers get more buying power and flexibility, and you get help maximizing reach and revenue. Learn more about PayPal Pay Later here.

Oct 26

49 min 14 sec

An important component of digital banking transformation is to be able to improve efficiency and productivity in your organization while also helping employees to serve customers better. With complex customer engagements, you need to ensure that the right people are engaged at the right part of the customer journey, using a scheduling tool that reflects the customer need, expertise required, timing and locational constraints, and the ability for both your team and the customer to drive the process. We are joined on the Banking Transformed podcast today by Tom Chang, Distinguished Solutions Engineer at Salesforce. He discusses how a scheduling tool can create stronger relationships with precise, personalized appointments. This episode of Banking Transformed is sponsored by Salesforce.  Salesforce Scheduler is a tool built natively on the Salesforce Platform that helps create stronger relationships with precise, personalized appointments. Boost scheduling efficiency and bring together the right resources, whether people or assets, with the contextual information needed to get the job done. Streamline appointment scheduling for employees and customers, delivering consistency across all channels of engagement, ultimately improving customer experiences.   For more information visit salesforce.com

Oct 21

26 min 39 sec

The premise of the book, The Rise of Technosocialism, is that mankind is coming to a fork in the road. Climate change, emerging artificial intelligence, social and economic upheaval, and the clash between patriotic nationalism and the inevitability of globalism are coalescing into a crucible. The reality is that technology will be at the center of all of these changes. Our guest today on the Banking Transformed podcast is Brett King, author of the book, The Rise of Technosocialism, founder of Moven, international speaker, and member of the Fintech Hall of Fame. We discuss what the future may look like, what is inevitable, and what can be altered if humans take the appropriate action. This episode of Banking Transformed is sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices This episode of Banking Transformed is sponsored by PayPal: This podcast episode is being presented in partnership with PayPal. PayPal provides access to more than 403 million active global accounts and multiple buy now, pay later offers in a single integration. PayPal Pay in 4 enables shoppers to make purchases in four interest-free payments. Customers get more buying power and flexibility, and you get help maximizing reach and revenue. Learn more about PayPal Pay Later here.

Oct 19

51 min 40 sec

As a financial institution is preparing to engage in a data-driven strategy, where do they begin? First, it’s important to understand that data transformation is a marathon, not a sprint. Successful financial institutions must align themselves around five critical keys that will lead them through a holistic data-driven strategy roadmap. Our guests today on the Banking Transformed podcast are Jason White, Chief Information Officer at Berkshire Bank and Mark Leher, VP of Data and Analytics for Segmint We will discuss the development and execution of a truly transformational data-driven business strategy for financial institutions. .

Oct 14

42 min 9 sec

According to a recent Harris Poll, 40% of respondents said they are likely to leave their primary financial institution for digital banking that compares to an online shopping experience. New benchmarks have been set as to what is acceptable regarding digital experiences at financial institutions. While consumers still want to bank with community institutions, these smaller firms must accelerate digital transformation efforts to avoid disintermediation to larger banks or big tech organizations. We are joined on the Banking Transformed podcast today by Craig McLaughlin, CEO at Finalytics.ai and Extractable. He discusses the results of the Harris research and provides insights into how smaller organizations must respond to the digital experience challenge. This episode of Banking Transformed is sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices This episode of Banking Transformed is sponsored by PayPal: This podcast episode is being presented in partnership with PayPal. PayPal provides access to more than 403 million active global accounts and multiple buy now, pay later offers in a single integration. PayPal Pay in 4 enables shoppers to make purchases in four interest-free payments. Customers get more buying power and flexibility, and you get help maximizing reach and revenue. Learn more about PayPal Pay Later here.

Oct 12

40 min 27 sec

Capco recently published research offering insights into how banks can modernize their digital banking experience to include the personalization customers expect and prefer. The study finds that regardless of age, over 70% of customers rank personalization as highly important to their banking experience. The study not only delves into how to engage customers initially, but also how to retain customers going forward by building unique and innovative digital features with a personal touch. We are joined on the Banking Transformed podcast by Lane Martin, Partner and Head of U.S. Banking and Payments at Capco. He discusses the challenges firms face in putting a digital strategy in place, and the path to an effective and attractive digital platform. This episode of Banking Transformed Solutions is sponsored by Capco  Capco is a global technology and management consultancy specializing in driving digital transformation in the financial services industry. Capco operates at the intersection of business and technology by combining innovative thinking with unrivaled industry knowledge to fast-track digital initiatives for banking and payments, capital markets, wealth and asset management and insurance.  To access the research paper, visit here

Oct 7

36 min 40 sec

With consumers strapped for cash during these turbulent times, traditional and non-traditional financial firms are expanding financing options to support consumer and merchant needs. One of the newest solutions modernizes the old-school layaway or retail installment loan offering for the digital world. The Buy Now, Pay Later (BNPL) concept allows consumers to take possession of merchandise before they’ve paid in full, with access at the point of sale. We are joined on the Banking Transformed podcast by Greg Lisiewski, VP, Global Pay Later Products at PayPal. He discusses the marketplace opportunities of the BNPL solution and how this can be a win-win-win for all parties involved. This episode of Banking Transformed is sponsored by PayPal: This podcast episode is being presented in partnership with PayPal. PayPal provides access to more than 403 million active global accounts and multiple buy now, pay later offers in a single integration. PayPal Pay in 4 enables shoppers to make purchases in four interest-free payments. Customers get more buying power and flexibility, and you get help maximizing reach and revenue. Learn more about PayPal Pay Later here.

Oct 6

36 min 3 sec

Recently, I had the opportunity to join Ron Shevlin in a unique debate on the future of financial services. Refereed by Jason Henrichs, the CEO at Alloy Labs Alliance, this debate was done in the style of championship title fight, complete with silk robes, a debate timer and an enthusiastic audience that attended the MX Money Experience Summit at the Snowbird Resort in Utah. We debated the future of fintech and challenger banks, current digital banking trends, challenges in the marketplace, and the ‘hottest topics’ in banking today. I am fortunate to have Ron Shevlin: Director of Research at Cornerstone Advisors on the Banking Transformed podcast. We do a recap of the debate and share insights we did not have time for during the actual event. View the Future of Money Experiences debate This Episode of Banking Transformed is Sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices This episode of Banking Transformed is sponsored by PayPal: This podcast episode is being presented in partnership with PayPal. PayPal provides access to more than 403 million active global accounts and multiple buy now, pay later offers in a single integration. PayPal Pay in 4 enables shoppers to make purchases in four interest-free payments. Customers get more buying power and flexibility, and you get help maximizing reach and revenue. Learn more about PayPal Pay Later here. This Episode of Banking Transformed is sponsored by FIS. The way we move money is changing. We want to send money in real-time—to the other side of the world. We want everything in one place, integrated, seamless and on our devices. Embedded, fast, standardized, frictionless and secure. These are our Financial Futures. The Financial Futures podcast by FIS explores the challenges presented by the pandemic. Is the world’s technology up to the challenge? Are we? FIS. Advancing the way the world pays banks and invests. More at: https://feeds.transistor.fm/financial-futures

Oct 5

49 min 42 sec

Marketing is at the center of a massive transformation, driven new technologies, real-time data analytics, and major scientific advances that will power the future of the banking industry. More than ever, we need a new framework for communication, engagement and loyalty. Financial marketers need to understand this new paradigm, and prepare to embrace the opportunities that lie ahead or risk becoming irrelevant or obsolete. We are very fortunate to have Raja Rajamannar, Chief Marketing Officer at Mastercard and author of the book, ‘Quantum Marketing’ with us on the Banking Transformed podcast. He will discuss what marketers must do to prepare for a future where everything we once knew about marketing has changed. This episode of Banking Transformed is sponsored by FIS. The way we move money is changing. We want to send money in real-time—to the other side of the world. We want everything in one place, integrated, seamless and on our devices. Embedded, fast, standardized, frictionless and secure. These are our Financial Futures. The Financial Futures podcast by FIS explores the challenges presented by the pandemic. Is the world’s technology up to the challenge? Are we? FIS. Advancing the way the world pays banks and invests. More at: https://feeds.transistor.fm/financial-futures

Sep 28

58 min 55 sec

What can legacy financial institutions learn from the first online-only bank? Founded in 1999, First Internet Bank reimagined the traditional banking model as the first state-chartered, FDIC-insured institution to operate entirely online. What makes First Internet Bank different than other competitors that were established at about the same time, but were later either shuttered or absorbed by other entities? To understand what makes First Internet Bank unique, and how complex services can be offered by a bank with no branches, we have Nicole Lorch, the president and COO of First Internet Bank on the Banking Transformed podcast. Nicole shares her perspective on how to combine technology, analytics, innovation and a challenger mindset for long-term success. This episode of Banking Transformed is sponsored by FIS. The way we move money is changing. We want to send money in real-time—to the other side of the world. We want everything in one place, integrated, seamless and on our devices. Embedded, fast, standardized, frictionless and secure. These are our Financial Futures. The Financial Futures podcast by FIS explores the challenges presented by the pandemic. Is the world’s technology up to the challenge? Are we? FIS. Advancing the way the world pays banks and invests. More at: https://feeds.transistor.fm/financial-futures

Sep 21

37 min 46 sec

Inclusive and accessible digital experiences are more important now than ever before. 61 million adults in the US live with a disability and the average American reads to a 7th/8th grade level. Are your digital platforms, content, campaigns and social media posts easily accessed and understood by all? Or are you excluding huge portions of your online audience? We are very fortunate to have James Deignan, Inclusion and Accessibility Specialist at Texthelp and Jeff Wissel, Director of the office of customer accessibility at Fidelity Investments on the Banking Transformed podcast. We will discuss the rationale and benefits of ensuring that websites, social media and customer engagement are accessible and inclusive. This episode is sponsored by Texthelp Texthelp are leaders in digital inclusion and accessibility software with products used by over 40 million users. ReachDeck offers an all-in-one solution to help financial organizations improve the accessibility, readability and reach of websites and online content. For more information or a free scan of your website visit our website.

Sep 16

40 min 3 sec

What makes a fintech firm or challenger bank different from a legacy financial institution? Is it the products offered or the digital platform? Or is it deeper than that? In discussions with dozens of fintech organizations as part of this podcast, I believe there is a completely different mindset at most fintech firms. What I have also found is that this ‘challenger mindset’ doesn’t need to exist only at new firms. It must be the foundation for any successful organization. We are very fortunate to have Eric Fulwiler, Chief Commercial Officer at 11:FS and previous executive director of VaynerMedia in London on the Banking Transformed podcast . We will discuss what it means to have a challenger mindset and why it is more important today than at any time in the past. This episode of Banking Transformed is sponsored by FIS. The way we move money is changing. We want to send money in real-time—to the other side of the world. We want everything in one place, integrated, seamless and on our devices. Embedded, fast, standardized, frictionless and secure. These are our Financial Futures.   The Financial Futures podcast by FIS explores fintech innovation and the trends that are already transforming the way the world pays, banks and invests...across the globe. And the mechanisms we’ll need to prosper in this brave new landscape.   Is the world’s technology up to the challenge? Are we? Find Financial Futures on your favorite podcasting app.  FIS. Advancing the way the world pays banks and invests.   More at: https://feeds.transistor.fm/financial-futures

Sep 14

39 min 37 sec

As more companies navigate the return-to-office movement, management teams are faced with an increased urgency of finding, training and retaining quality talent while also creating an inclusive environment for hybrid working. It is increasingly clear that the path to long-term relevance is through leveraging human capital. But, in most cases, this will require cultural changes that will banks and credit unions win the war for talent. We are joined on the Banking Transformed podcast by Jill Nowacki, president and CEO of the financial institution executive search and consulting firm, Humanidei and O’Rourke. Jill and I discuss the challenges and opportunities facing financial institutions today as they try to build future-ready workforces and cultures.

Aug 31

42 min 43 sec

Historically, the banking industry viewed innovation as a way to add more to a product or service. The focus was often on technology, competitive offerings and ecosystems and not often enough about the customer. The world has changed … in an instant. More than ever, consumers want ways to transact and engage in a way that is easy, intuitive and emotional. Simplicity has taken center stage in the innovation process. We are joined on the Banking Transformed podcast by Jin Kang Moller, previous vice president of customer experience at OCBC Bank in Singapore, and the author of the book, “The Simplicity Playbook for Innovators’. Jin and I discuss why simplicity is important and how to make it happen at any organization.

Aug 24

26 min 54 sec

Embedded finance enables businesses to seamlessly integrate financial services into their business models, providing banking, credit, payments, or other services — efficiently and at the consumer’s point of need. According to Accenture, 47% of non-financial companies said their companies have already invested in embedded finance offerings. The vast majority of these firms also stated that embedded finance increased engagement and helped them acquire new customers. We are very fortunate to have Eric Sager, COO of Plaid and Ben Brown, cross industry financial services lead at Accenture with us on the Banking Transformed podcast. They discuss the competitive trends, the impact on traditional financial services and the opportunities in the marketplace.

Aug 17

35 min 19 sec

Bitcoin is taking another step toward mainstream adoption, as customers of some U.S. banks will soon be able to buy, hold and sell bitcoin through their existing accounts. According to research by Cornerstone Advisors, 60% of crypto owners would use their bank to invest in cryptocurrencies. Even though interest from traditional banking firms is still rather low, could Bitcoin represent a missed opportunity at a time when money and accounts are flowing into fintech firms globally? We are very fortunate to have Patrick Sells, head of banking solutions for NYDIG, a leading technology and financial services firm dedicated to Bitcoin. Sells discusses the opportunities and challenges of traditional banks offering integrated Bitcoin solutions.

Aug 10

30 min 58 sec

Leveraging modern technology, data, analytics and digital distribution, market leaders can use innovation to support new business models and create improved experiences. Despite these opportunities, new research by the Digital Banking Report has found that most organizations consider themselves to be behind the curve with both digital transformation and innovation. Part of the challenge is the lack of an innovation culture or leadership that fails to embrace change. We are very fortunate to have Mohit Joshi, president of Infosys, as well as Michael Ruttledge, Chief Information Officer and Head of Technology Services at Citizens Bank. They discuss the opportunities and challenges of implementing an innovation focused digital transformation process during times of rapid change. This episode of Banking Transformed is sponsored by FIS. The way we move money is changing. We want to send money in real-time—to the other side of the world. We want everything in one place, integrated, seamless and on our devices. Embedded, fast, standardized, frictionless and secure. These are our Financial Futures.    The Financial Futures podcast by FIS explores fintech innovation and the trends that are already transforming the way the world pays, banks and invests...across the globe. And the mechanisms we’ll need to prosper in this brave new landscape.   Is the world’s technology up to the challenge? Are we? Find Financial Futures on your favorite podcasting app.   FIS. Advancing the way the world pays banks and invests.   More at: https://feeds.transistor.fm/financial-futures

Aug 4

39 min 26 sec

Research shows that the biggest banks and fintech firms are doing best at delivering digital experiences, while smaller banks and credit unions often struggle. How can mid-tier organizations keep pace with consumer and small business expectations? Where should an organization start? How can you prioritize initiatives and partner with third-party solutions providers and fintech firms to innovate and create positive experiences at scale, quickly? For answers to these and other questions, we are joined by Ross Creasy, Chief Innovation Officer at Ameris Bank in Georgia and Stuart Cook, Chief Digital Product Officer of Valley Bank in New Jersey. Both of these executives will share how they became leaders in digital banking transformation. This episode of Banking Transformed is sponsored by Terafina: NCR Terafina unifies the digital onboarding and sales experience for banks and credit unions across the digital, branch, and call-center channels. NCR Terafina’s sales platform is a multichannel product suite offering the broadest spectrum of products, including consumer deposits and lending, real estate, small business deposits and lending, and commercial deposits. Visit here to learn more about how Terafina collaborates with financial institutions to deepen customer relationships and accelerate scalable growth.

Jul 29

42 min 12 sec

According to a recent study from Ernst & Young, 37% of consumers now say a FinTech firm is their most-trusted financial services brand, compared with 33% who name a bank as their most-trusted brand. More concerning is that Among U.S. consumers, 31% name a FinTech as their primary financial relationship (PFR), up from just 6% in 2019. Much of this shift has been caused by the shift to digital providers, that deliver more targeted solutions faster and more seamlessly than traditional banks and credit unions. Our guest is Nikhil Lele, the principal for digital transformation at EY. He discusses the shift in financial services loyalty and what banks and credit unions can do to defend relationships in a digital age. This episode of Banking Transformed is sponsored by FIS.  The way we move money is changing. We want to send money in real-time—to the other side of the world. We want everything in one place, integrated, seamless and on our devices. Embedded, fast, standardized, frictionless and secure. These are our Financial Futures.     The Financial Futures podcast by FIS explores fintech innovation and the trends that are already transforming the way the world pays, banks and invests...across the globe. And the mechanisms we’ll need to prosper in this brave new landscape.   Is the world’s technology up to the challenge? Are we? Find Financial Futures on your favorite podcasting app.    FIS. Advancing the way the world pays banks and invests.    More at: https://feeds.transistor.fm/financial-futures

Jul 27

42 min 40 sec

Consumers have grown to expect personalized digital experiences across all channels and throughout the entire customer journey. Much more than just good targeting for offers, organizations need to engage contextually, in real time, helping consumers reach their financial goals. Achieving personalization at scale is a daunting task for the majority of banks and credit unions. This is where the power of strategic partnerships is so important to achieve success. Our guest is Colleen Dabbs, director of solution consulting for Fiserv. We discuss the importance of creating digital solutions and delivering a personalized digital experience across channels. We also dig into how this can be achieved quickly and what are barriers to success. This episode of Banking Transformed is sponsored by Fiserv:  As a global leader in payments and financial technology, Fiserv helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution.  For more information visit  Architect | Fiserv

Jul 20

31 min 11 sec

In February of this year, LendingClub closed the acquisition of Radius Bank, becoming a full-spectrum fintech marketplace bank and among the first fintech companies to buy a bank. LendingClub’s long-term vision is to pursue a platform strategy expanding the use of a variety of financial products and services by their 3 million members, while providing transaction integration and processing capabilities. To understand what makes this combination of digital bank and lending platform unique, we are joined by Scott Sanborn, CEO of LendingClub. Scott shares his perspective on how the LendingClub platform can leverage the loyalty of borrowers for future relationship expansion. This episode of Banking Transformed is sponsored by FIS. The way we move money is changing. We want to send money in real-time—to the other side of the world. We want everything in one place, integrated, seamless and on our devices. Embedded, fast, standardized, frictionless and secure. These are our Financial Futures. The Financial Futures podcast by FIS explores fintech innovation and the trends that are already transforming the way the world pays, banks and invests...across the globe. And the mechanisms we’ll need to prosper in this brave new landscape. Is the world’s technology up to the challenge? Are we? Find Financial Futures on your favorite podcasting app. FIS. Advancing the way the world pays banks and invests. More at: https://feeds.transistor.fm/financial-futures

Jul 13

36 min 56 sec

Founded in 1935, Alliant Credit Union was created to serve the employees of United Airlines. With most members traveling across the globe, the top 10 credit union had far fewer branches than other firms its size. Today, it has transformed itself into a digital-first financial institution with no branches and a nationwide presence. To cement its leadership position, Alliant named Dennis Devine as their new CEO in mid-2020. Prior to Alliant, Devine held senior roles at KeyBank, Citizens Financial Group and PNC Bank. To understand what makes Alliant unique and why a legacy big bank executive would want to ‘downsize’, we are joined by Dennis Devine, CEO at Alliant Credit Union. Dennis shares his perspective on how Alliant delivers the best of digital while still meeting the expectations of a great human experience. This episode of Banking Transformed is sponsored by FIS.   The way we move money is changing. We want to send money in real-time—to the other side of the world. We want everything in one place, integrated, seamless and on our devices. Embedded, fast, standardized, frictionless and secure. These are our Financial Futures.     The Financial Futures podcast by FIS explores fintech innovation and the trends that are already transforming the way the world pays, banks and invests...across the globe. And the mechanisms we’ll need to prosper in this brave new landscape.   Is the world’s technology up to the challenge? Are we? Find Financial Futures on your favorite podcasting app.    FIS. Advancing the way the world pays banks and invests.    More at: https://feeds.transistor.fm/financial-futures

Jul 6

37 min 8 sec

More than ever in the past, data and applied analytics is being used to transform business models and create more personalized, streamlined experiences tailored to the needs and preferences of consumers and businesses alike. To compete in the future, banks and credit unions must be at the center of a good data ecosphere, serving as trusted data custodians, proving real-time value to customers. More importantly, financial institutions must give control back to the customer – so they can choose when to give up their data and for what purpose. In this episode, Hossein Rahnama, CEO and Founder of Toronto-based Flybits, discusses how data can make relationships stronger by keeping data secure and using data responsibly – on the customer’s behalf. This episode of Banking Transformed Solutions is Sponsored by Flybits Flybits is the most advanced contextual engagement platform designed for the financial industry. It transforms data into experiences that build trust and preserve the privacy of individuals. So simple and accessible to use, Flybits empowers any employee to create and launch recommendations in minutes, at scale, turning a bank’s mobile channels into a destination beyond transactions. For more information visit flybits.com

Jul 1

36 min 19 sec

Data is the foundation for the entire digital transformation process, allowing organizations to make better real-time decisions and enable the movement from being product-led to being experience-led organizations. Firms that have invested in data transformation have seen tangible results through improved business models. But, data transformation is challenging because of the structure of current data, the distribution of insights, and the lack of skills and resources to commit to a holistic data strategy. Our guest for the show is Karthik Ravindran, GM, Enterprise Data at Microsoft. He discusses the data transformation journey at Microsoft, and why data maturity is the key to success in a digital world. This Episode of Banking Transformed is Sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices

Jun 29

46 min 7 sec

At a time when the competitiveness in the banking industry is more intense than ever, and the need for digital transformation has never been greater, is the viability of smaller community organizations at risk? Is there a way for community banks and credit unions to stand out in a world of digital giants? To dive deeper into the viability of community banking organizations, we have Gabe Krajicek, CEO of Kasasa, on the show. He discusses the benefits of local banking as well as the the opportunities for community banks to serve consumers and communities. This Episode of Banking Transformed is Sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices

Jun 22

43 min 11 sec

McKinsey found that 90% of executives “believe that the COVID-19 crisis will fundamentally change the way they do business over the next five years.” Unfortunately, only 21% “feel confident that they are prepared to capture new growth opportunities.” At a time when technology solutions are abundant, an innovation culture is required more than ever in banking. This is because status quo is not an option in a marketplace that is changing faster than ever before, with competitors of all sizes creating new solutions at scale. We are very fortunate to have Amy Radin, founder and principal of Pragmatic Innovation Partners and author of the award-winning book, ‘The Change Maker’s Playbook: How to Seek, Seed and Scale Innovation In Any Company’. This Episode of Banking Transformed is Sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices

Jun 15

34 min

The pandemic disrupted the entire planet, changing consumer behavior, altering business and government assumptions, and dramatically impacting business plans. The future is still unclear, but the opportunities (and risks) are immense. What lies ahead will define winners and losers. From adoption of new technologies to a redefined future of work, and new innovation culture, digital banking transformation will require a paradigm shift in leadership thinking and a new level of agility. Our guest is Paolo Sironi, Global Research Leader for Banking and Finance at the IBM Institute for Business Value. We discuss how financial institutions will need to explore a new normal, which may require continual reinvention of business models and solutions. This Episode of Banking Transformed is Sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices

Jun 8

40 min 54 sec

The way people and businesses shop for and buy financial services has been altered dramatically since the pandemic. No longer needing to go to a physical location, consumers can do their research, purchasing and ongoing engagement on their phone. But just because banks and credit unions have enabled consumers to open and use accounts digitally doesn’t mean they will. Growth is not a given ... and satisfaction is far from guaranteed. We are very fortunate to have James Robert Lay, CEO of the Digital Growth Institute and author of the book, “Banking on Digital Growth” on the show. He discusses digital sales models and how organizations can multiply results by following a well-defined formula. This Episode of Banking Transformed is Sponsored by FIS Global If you’re looking to transform, then look no further than FIS’s Modern Banking Platform. Cloud-enabled, containerized, open and secure – it’s built from the ground up to meet the unique challenges and opportunities of the digital age. More at: fisglobal.com/modernbanking This Episode of Banking Transformed is Sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices

Jun 1

48 min 48 sec

Modern technology is providing institutions with opportunities that expand well beyond traditional financial services. As part of digital banking transformation, financial institutions can process data and engage with consumers in ways never before possible. Tools such as open banking, cloud computing, AI and Platformification have become table stakes for remaining competitive. The question is, how do we prioritize the investment in available technologies? More importantly, how do we deploy these technologies to increase market share and improve customer experiences? Our guest is Andrew Beatty, Head of Global Next Generation Banking at FIS Global. He shares his insights and projections as to where the banking industry must focus efforts to succeed in the future. This Episode of Banking Transformed is Sponsored by FIS Global   If you’re looking to transform, then look no further than FIS’s Modern Banking Platform. Cloud-enabled, containerized, open and secure – it’s built from the ground up to meet the unique challenges and opportunities of the digital age. More at: fisglobal.com/modernbanking

May 27

38 min 24 sec

The pandemic has caused many banks to rethink their branch network strategy. For banks to be positioned for a future that includes greater reliance on digital delivery, organizations must explore ways that technology can enable stronger human interactions as well. It is clear that the role of the branch has changed dramatically over the past decade, but the importance of human connection still remains. But what is the right balance of physical and digital delivery for the future? And what is needed to transition to new models? We are very fortunate to have Mindy Mercaldo, Head of US Branch Network at Citi, to discuss the future of bank branch delivery and how to support growth with new delivery models. This Episode of Banking Transformed is Sponsored by FIS Global  If you’re looking to transform, then look no further than FIS’s Modern Banking Platform. Cloud-enabled, containerized, open and secure – it’s built from the ground up to meet the unique challenges and opportunities of the digital age. More at: fisglobal.com/modernbanking

May 25

38 min 58 sec

What is the foundation used to drive growth in an financial institution? If it's not data - it should be. Banks and credit unions have a wealth of insights that live within their account holder data. But, managing all of this data, and the accelerated speed at which it flows into the ecosystem can cripple an institution. Now more than ever, organizations must focus on leveraging both internal and external data to drive strategic decisions that can drive acquisition, share of wallet, loyalty and growth. Our guests are Marco Bernasconi, President of North Brookfield Savings Bank and Marla Pieton, VP of Marketing for Segmint. We discuss with how using data, at a foundation level, can drive growth in banking. This Episode of Banking Transformed is Sponsored by Segmint: Segmint empowers financial institutions and financial technology providers to easily understand and leverage data, interact with customers, and measure results. Derived from billions of transactions, Segmint provides the fastest and most accurate customer insights through advanced data tagging, categorization, and contextualization. Our insights enable all functions of an organization to inform strategies including competitive analysis, risk, marketing, customer experience, and product innovation. Learn more at segmint.com This Episode of Banking Transformed is Sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices

May 18

32 min 23 sec

Before the rise of PayPal, Venmo, and dozens of other new payment solutions, banks didn't look at the payments function as an epicenter for innovation. Times have changed. Digitization of front, middle, and back office processes, plus an explosion of fintech experimentation around the world, have turned the payments function into a competitive weapon rather than a cost center. In parallel, the rise of contextual or embedded finance mean that payments innovation is changing the operating models for banks and the industries they serve. Our guest is Mike Cook, global payments leader at IBM. We discuss how the center of transformation in banking is focused on payments and how legacy financial institutions can keep pace with a new generation of providers. This episode of Banking Transformed is sponsored by IBM: IBM has created a payments fabric where ecosystem members can easily, quickly and economically collaborate and consume payments services from banks, other Financial institutions, or FinTechs.. The IBM Payments Center brings together all elements of IBM to offer clients payments modernization services in a Payments as a Service offering. For more information visit ibm.com

May 13

37 min 57 sec

Despite increased investment in digital initiatives, financial institutions continue to be concerned that they are falling behind with digital transformation efforts that are needed to build real, long-term competitive advantages. Enabling digital engagement is not enough. Banks and credit unions must re-imagining banking from the inside out, changing both how banking is done, as well as what will create value in the digital era. Our guest is Daniel Latimore, chief research officer for Celent. He discusses the ways leading financial institutions are differentiating themselves with innovation, back-office reengineering, technology modernization and new leadership paradigms. This Episode of Banking Transformed is Sponsored by FIS Global    If you’re looking to transform, then look no further than FIS’s Modern Banking Platform. Cloud-enabled, containerized, open and secure – it’s built from the ground up to meet the unique challenges and opportunities of the digital age. More at: fisglobal.com/modernbanking This Episode of Banking Transformed is Sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices

May 11

37 min 6 sec

In 2009, Shamir Karkal and several colleagues created the first digital-only bank of its kind in the U.S. Struggling to describe the benefits of a bank without branches, getting funding was a difficult process. As it turned out, Simple not only grew, but was one of the first neobanks to be acquired by a legacy financial institution. When Shamir tried to generate interest for his new financial technology start-up, Sila, he generated $5 million in funding in only a few months … in a marketplace that readily embraces fintech start-ups today. On the show, Shamir Karkal, Founder & CEO of Sila, discusses how innovation in the banking industry has changed since the early days of Simple, and what the prospects are for innovation and digital banking transformation in the future. This Episode of Banking Transformed is Sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices This Episode of Banking Transformed is Sponsored by FIS Global  If you’re looking to transform, then look no further than FIS’s Modern Banking Platform. Cloud-enabled, containerized, open and secure – it’s built from the ground up to meet the unique challenges and opportunities of the digital age. More at: fisglobal.com/modernbanking

May 4

44 min 40 sec

Competition in the financial services sector has never been more intense. Banking boundaries, that once were defined geographically, have expanded globally as a result of digital functionality. While neighborhood financial institutions built their businesses on domestic transactions, today’s consumer and small businesses are sending and receiving funds from all around the world more frequently than ever. Our guest is Stephen Kuhl, Managing Director – Financial Institutions and Strategic Partnerships for Western Union Business Solutions. We discuss why offering international payment services can be a game-changer, how to overcome hurdles, and what action steps every community bank and credit union must take right now. Episode Sponsor Western Union Business Solutions is a global leader in international payment enablement for financial institutions. With hassle-free implementation, we offer a world-class, 24/7 digital platform where customers can send payments in 130+ currencies and receive foreign funds with only a few clicks. Each institution is offered a customized solution and dedicated support to help increase customer satisfaction and attract new business. Visit HERE to learn more about Western Union Business Solutions.

Apr 29

30 min 17 sec

In order to survive in an increasingly competitive market, financial organizations must be able to correctly identify consumers to streamline the account opening and credit application processes. This includes those with limited profiles, which has long been a shortcoming of the banking industry. It’s important that organizations use new sources of data to combat fraud and improve the customer experience for all consumers, expanding the availability of banking services for a broader population. We are fortunate to have Zac Cohen, COO of Trulioo, a global identity verification company, on the show. Zac discusses how alternative data can be used to provide stronger digital identities and provide credit and other services to the previously underserved markets.

Apr 27

40 min 49 sec

Some experts predict the demise of community banking organizations, that are challenged by changed consumer behavior, outdated infrastructure, an evolving competitive landscape, and the high cost of digital transformation. Is there a viable niche for community banks and credit unions in an industry that is increasingly dominated by huge mega-banks, or are we entering an era of ‘too small to succeed’? If there is a niche, what needs to be done today? Our guest is Jeff Marsico, President of The Kafafian Group, Inc. and author of the new book, 'Squared Away: How Can Bankers Succeed as Economic First Responders'. Jeff discusses the role community banks and credit unions can play in an increasingly demanding banking ecosystem. This Episode of Banking Transformed is Sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices

Apr 20

39 min 50 sec

The marketplace is being disrupted by firms that were built on digital platforms. Their agility, foundation of data, analytics and modern technology position these firms advantageously in a world that wants personalization, speed and simplicity of engagement. Which companies will thrive and which will get crushed by the powerful forces in the global business landscape now at work? How can legacy organizations compete with digital giants like Google, Facebook, Amazon and Apple? Our guest is R “Ray” Wang, Principal Analyst, Founder, and Chairman of Constellation Research, Inc., author of the best-selling book, 'Disrupting Digital Business' and his upcoming book, 'Everybody Wants to Rule The World'.   This Episode of Banking Transformed is Sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices

Apr 13

40 min 7 sec

More than at any time in the past, the largest banks in the U.S. have capitalized on their customers’ increased willingness to use digital financial services. U.S. Bank, the sixth largest bank in the country, has been one of the leaders in going beyond the basics in digital banking transformation. From streamlining new account opening and onboarding processes, to creating new ways to manage finances across channels, U.S. Bank combines innovation, modern technology and a focus on the customer experience to change the way people bank. Today’s guest is Dominic Venturo, senior executive vice president and chief digital officer at U.S. Bank. He discusses many of the ways that U.S. Bank has leveraged the recent changes in consumer behavior to increase efficiency and grow revenues. This Episode of Banking Transformed is Sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices

Apr 6

45 min 46 sec

Consumers are shopping for products and services, opening accounts, and building relationships using the channels they prefer. More than ever before, this is done on a mobile phone or online. The only way to support new account opening and deepen existing relationships is by seamlessly aligning your branches, call centers, and digital channels with a modern account opening and onboarding process. The guests for today’s show are Tami Ferguson, SVP and Director of Client Experience, for Washington Trust Bank and Zach Hamilton, Chief Digital Officer of Synovus. They will provide insights into how they have supported consumers across the customer journey with innovation that prioritizes customer needs. This Episode of Banking Transformed is Sponsored by NCR Terafina: NCR Terafina unifies the digital onboarding and sales experience for banks and credit unions across the digital, branch, and call-center channels. NCR Terafina’s sales platform is a multichannel product suite offering the broadest spectrum of products, including consumer deposits and lending, real estate, small business deposits and lending, and commercial deposits. Visit here to learn more about how Terafina collaborates with financial institutions to deepen customer relationships and accelerate scalable growth.

Apr 1

37 min 54 sec

Companies that use disruption as an opportunity for innovation emerge from it stronger, while companies that merely attempt to 'weather the storm' until things go back to normal miss an opportunity to thrive. Transformation is not a project or a destination, but a continuous process of adapting to a volatile and uncertain environment. But where does a financial institution begin? On this episode, we are joined for a second time by Jerry Kane from Boston College. Jerry is one of the 4 authors of the upcoming book, "The Transformation Myth: Leading Your Organization through Uncertain Times". We discuss the research and interviews done for the book, which offers a framework for understanding disruption and tools for navigating it. This Episode of Banking Transformed is Sponsored by Microsoft: See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working. More at Microsoft.com/financialservices

Mar 30

46 min 37 sec

Banks and credit unions are rethinking their distribution strategies as more people than ever are using digital channels. Despite this shift, closing all branches is not the best alternative. Neither is keeping them all open. Forward-thinking banks are adopting alternative models, including self-service banking that is complimented with new technology in a lean branch format. Organizations are realizing that optimal distribution begins by making all channels more efficient and effective. The guest for this Banking Transformed Solutions episode is Mark Aldred, Head of Sales for Auriga. We discuss how bank branches are only one component of an improved distribution strategy, as organizations strive to embed banking within a consumer's daily life. This Episode is Sponsored by Auriga Auriga, leading supplier of software and technological solutions for the banking and payments industries, wants to help bank branches avoid closure by moving to a “Lean Bank Branch” model. This reinvents branches as leaner operations with enhanced customer value through self-service for simple functions and video calling booths for personalised advice – reducing operating costs yet putting human connection and conversation back into banking. Find out more here.

Mar 25

37 min 14 sec