Banking Transformed with Jim Marous

Customers are more likely to engage with their bank or credit union if contacted in a timely manner on their preferred communications platform. More than ever, these channels are highly personalized digital options. Be it text, video, audio, secure chat, or social messaging, consumers want their financial institution to stay connected with them at every point of their financial journey. The challenge for financial institutions is how to implement a digital communication strategy that is secure and compliant. We have Ashish Garg, Co-Founder and CEO of Eltropy on the Banking Transformed show today. Ashish discusses the many ways that financial institutions have used digital messaging to improve engagement and revenue opportunities. This episode of Banking Transformed Solutions is sponsored by Eltropy Eltropy is the leading digital conversations platform for community financial institutions (CFIs). Its AI-driven communications tools empower CFIs to communicate, automate, improve operations and engagement, and increase productivity across the institution. Using Eltropy’s platform, CFIs can connect with their consumers anytime, anywhere via Text, Video, Secure Chat, co-browsing, screen sharing, and chatbot technology. Visit www.eltropy.com for more information.

Banking will never return to the way things were done in the past. Continuous disruption is the new norm. The mission is to become more resilient and to benefit from the change that surrounds us. How can banks and credit unions navigate the intentional evolution of financial services while continuing the existing execution of engagement with customers? In other words, creating new business models from within what already exists. I am excited to have Brant Cooper, author of the book, ‘Disruption Proof’ on the Banking Transformed podcast. He will discuss the 5 elements required for organizations to be able to deal with accelerated change today and in the future. This Episode of Banking Transformed is sponsored by FIS How do you find your feet on ground that’s constantly shifting? You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad. Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-report FIS. Advancing the way the world pays banks and invests.

To thrive in the new digital banking environment, financial institutions need to rearticulate their value proposition, simultaneously simplifying and upgrading back-office processes and the customer experience while creating value through data and analytics. To deliver a market-leading value proposition, banks will need to work like a tech company, with leadership embracing change and acting promptly to take advantage of market opportunities that provide differentiation. We are very fortunate to have Doug Brown, President of NCR Digital Banking and Doug Peacock, SVP of Digital Delivery at Associated Bank on the Banking Transformed podcast. They discuss what is required to digitally transform a mid-asset bank and how to prioritize during times of economic uncertainty. This episode of Banking Transformed Solutions is sponsored by NCR NCR, a global technology leader, is the largest non-core digital banking provider. We help financial institutions gain efficiencies and provide personalized, seamless experiences for consumers and businesses—all on a single platform. Our digital-first banking solutions are trusted by over 600 banks and credit union. With our portfolio of industry-leading solutions, open architecture, and on-demand tools, financial institutions gain the power to differentiate and tailor their offerings. Visit www.ncr.com/banking for more information.

The banking industry, while steeped in tradition, is far from predictable. More than ever, marketplace changes are impacting what financial institutions deliver and how solutions are delivered. Unfortunately, not all legacy bankers have kept pace with the changes in the marketplace … either by choice or because their organization has failed to keep up. Without a challenger mindset and a willingness to accept change, take risks and disrupt status quo, bankers like us will be left behind. I am so excited to have Leda Glyptis PhD, chief client officer at 10x Banking back on the Banking Transformed podcast. She will discuss her amazing new book entitled, Bankers Like Us, which chronicles her journey, observations and recommendations for an industry being disrupted. This Episode of Banking Transformed is sponsored by FIS How do you find your feet on ground that’s constantly shifting? You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad. Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-report FIS. Advancing the way the world pays banks and invests.

Credit cards are one of the primary foundations for credit relationships at many financial institutions, accounting for 37% of consumer purchases by dollar value in 2021. But the marketplace is changing, as usage patterns evolve due to economic conditions and new credit alternatives. To continue to grow credit card relationships, banks and credit unions must reimagine their products to meet consumer needs, using deeper data insights to to reach specific segments, drive engagement, and rethink card economics. We have Josh Turnbull and Craig LaChapelle from TransUnion on the Banking Transformed podcast. They share the current state of the credit card marketplace and how financial institutions can better prepare for the credit customer of the future. This episode of Banking Transformed Solutions is sponsored by TransUnion As part of a global information and insights company, the TransUnion Card and Banking business supports over 5,000 financial institutions in the US — from the largest card issuers and retail banks to community-based institutions and technology-driven card issuers — providing actionable data and insights to help them better compete and succeed in an ever-changing environment. For more information visit https://www.transunion.com/extracreditpod

ChatGPT has taken over the news cycle since launching at the end of November of 2022. Its AI version of human conversation has created optimism and debate around the opportunities and risks associated with this technology. The question is, how can conversational AI impact banking as we know it, from an operational and customer experience perspective? What is the scope of this change and what are the challenges? I am excited to have Charles Morris, Chief Data Scientist for Financial Services at Microsoft on the Banking Transformed podcast. We will be discussing how banks and credit unions can leverage the power of ChatGPT and conversational AI in the future. This Episode of Banking Transformed is sponsored by FIS How do you find your feet on ground that’s constantly shifting? You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad. Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-report FIS. Advancing the way the world pays banks and invests.

Consumer behavior is changing faster than ever. The impact of the pandemic, technological advancements, a greater awareness of environmental, social and governance (ESG) issues and an uncertain economy are influencing financial wellness and buying decisions. More than ever, banks and credit unions are wondering how they can better shape consumer demand and drive engagement and loyalty as consumers are increasingly diversifying their financial relationships. We are very fortunate to have PwC Partners Greta Lovenheim & Brian Morris on the Banking Transformed podcast. Greta and Brian discuss the results of the PwC Customer Loyalty Survey and share how banks can strengthen relationships, increase customer lifetime value, and reduce the likelihood of attrition. Follow us on YouTube to view the video versions of these interviews: youtube.com/c/BankingTransformedPodcast. This episode of Banking Transformed Solutions is sponsored by PwC Customer Link unifies your data with PwC’s third party data to build a 360 degree view of your customers. Create better, more personalized experiences with unmatched customer data you can’t get from just any platform. With a real-time view of your data and call-to-action triggers, you can quickly act on what you learn and feel more confident in the decisions you make. For more information visit https://www.pwc.com/us/en/prod...

An uncertain economy, combined with technological advances, increased customer expectations, and new competition will force banks to reimagine business models and rethink how financial services are delivered. More than ever, banks and credit unions must find ways to meet customer’s individual needs at speed and scale. Continuous digital transformation is required across entire organizations. I am excited to have my friend, Ron Shevlin, Chief Research Officer at Cornerstone Advisors and Senior Contributor to Forbes on the Banking Transformed podcast. We will be discussing how banks and credit unions must respond to the major opportunities and threats facing financial institutions today. Follow us on YouTube to view the video versions of these interviews: youtube.com/c/BankingTransformedPodcast. This Episode of Banking Transformed is sponsored by FIS How do you find your feet on ground that’s constantly shifting? You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad. Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-report FIS. Advancing the way the world pays banks and invests.

Digital banking transformation involves integrating digital technology with data and analytics to enhance customer experiences, drive growth and make an organization more future-ready. Building improved customer experiences and greater engagement involves more than just the customer service area and IT. It must involve the entire organization including the back-end of the business process. The entire company must provide seamless digital customer experiences. We are very fortunate to have Stephen Bohanon, the founder of Alkami Technology on the Banking Transformed Podcast. Stephen discusses how organizations of all sizes need to leverage modern technology and customer insights to stand out in an increasingly competitive marketplace. This Episode of Banking Transformed is Sponsored by Alkami Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly and build thriving digital communities. Alkami helps clients transform through retail and business banking, digital account opening and digital loan origination, payment fraud prevention, and data analytics and engagement solutions. To learn more, visit www.alkami.com.

According to MIT, the biggest challenges to the innovation process include a lack of an innovation culture, fear of change, lack of ownership and vision, inadequate benchmarking and even impatience. Unfortunately, there is no magic bullet or secret formula that can guarantee innovation success. But there are ways to make the odds of success greater. And it is not just new technology or a higher level of investment. I am excited to have Steve Monaghan on the Banking Transformed podcast. Steve's experience includes leading the innovation teams at several bank and non-bank organizations, including DBS Bank and Dell. In this episode, Steve discusses why banking innovation lags many other industries and what can be done to change this paradigm. Follow us on YouTube to view the video versions of these interviews: youtube.com/c/BankingTransformedPodcast. 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 How do you find your feet on ground that’s constantly shifting? You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad. Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-report FIS. Advancing the way the world pays banks and invests.

Over three-quarters of consumers said that receiving personalized communications was a key factor in prompting their consideration of a brand, and 78 percent said such content made them more likely to repurchase. But simply putting a name on an email or targeting a sales message based on recent purchases is no longer enough. Financial institutions, and customers, want to engage in a way that exhibits empathy, is timely and contextual, and most of all, creates a value exchange. We are very fortunate to have John Thomas of Relay Network back on the Banking Transformed podcast. John discusses why companies that excel at creating customer engagement generate faster rates of revenue growth than their peers. Follow us on YouTube to view the video versions of these interviews: youtube.com/c/BankingTransformedPodcast. This episode of Banking Transformed Solutions is sponsored by Relay Network Relay Network is the innovator of SaaS feed technology, with over 10 years of experience helping companies more meaningfully engage with the people they serve. Using Relay Feeds, banks and credit unions are deepening their relationships with their customers. Relay’s goal is to help businesses maximize the value of the relationships they’ve cultivated. ​ For more information visit https://www.relaynetwork.com/onboarding-fs/

The increased digitalization of finance has resulted in massive transformations and disruptions across the industry. Opportunities have emerged from these trends like the use of AI to drive personalization, decentralized finance, embedded banking, and increased collaborations between fintech firms and legacy banks. Driven by the increase of consumers with access to more technology, the pace of change is increasing, with innovation at the forefront and existing business models being challenged. I am excited to have my friend, Ali Paterson, editor-in-chief and publisher of Fintech Finance Magazine on the Banking Transformed podcast. He will discuss the top financial sector trends for 2023 and share ways organizations must become future-ready. 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 How do you find your feet on ground that’s constantly shifting? You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad. Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-report FIS. Advancing the way the world pays banks and invests.

Improving the customer experience (CX) is at the foundation of the majority of digital banking transformation efforts. Financial institutions need to deliver a fast, safe, and consistent banking experience in both physical and digital engagements. Delivering a future-ready digital banking experience requires data, analytics, modern technology, and a leadership and cultural paradigm shift that enables the reimagining of legacy business models. We are very fortunate to have Courtney Rowan, VP of Digital Experience at Citadel Credit Union on the Banking Transformed podcast. Courtney discusses how Citadel did not slow the digital banking transformation process post-pandemic, but partnered with solution providers to rethink the delivery of financial services. This episode of Banking Transformed is sponsored by NCR Terafina NCR Terafina provides digital onboarding and omnichannel sales solutions that are simple and secure to banks and credit unions. Terafina’s omnichannel sales platform is a multichannel product suite with the broadest spectrum of products, including consumer deposits and lending, real estate, small business deposits and lending, commercial deposits, and cryptocurrency account opening—across digital, branch, and call center channels. https://terafina.com/

Open banking has become a major driver of digital transformation across the financial sector, revolutionizing payments, lending, investments, and transactional ecosystems almost overnight. But the full potential of APIs and open banking have yet to be realized. Will 2023 be the watershed year for open finance in the U.S. and globally, or will regulation slow the innovation process? We have Ritesh Jain, Fintech founder and advisor and previous CTO of HSBC on the Banking Transformed podcast. Ritesh shares his perspective on the growth of APIs and open banking he expects in 2023 and where opportunities still exist. 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 How do you find your feet on ground that’s constantly shifting? You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad. Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-report FIS. Advancing the way the world pays banks and invests. This Episode of Banking Transformed is sponsored by mParticle. mParticle believes that better decisions start with better data. Cleanse, visualize, and connect your customer data from any source or system to any API. Better data, better decisions, better outcomes. Visit mparticle.com for more.

Financial institutions of all sizes must stay focused on providing and improving digital services or they risk getting left behind. The good news is that smaller banks are already experts at relationships and can leverage this expertise and the trust they have earned in a digital world. The questions become where should investments be made and how can a mid-sized bank ‘punch above their weight’ competing with larger banks, fintech firms and big tech competition? We have Laura Merling, Chief Transformation and Operations Officer at Arvest Bank on the Banking Transformed podcast. Laura shares the steps that are needed for banks of all sizes to remain relevant in a digital 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 This Episode of Banking Transformed is sponsored by FIS How do you find your feet on ground that’s constantly shifting? You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad. Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-report FIS. Advancing the way the world pays banks and invests.

Modern workplace technologies are a primary driver of digital transformation in the banking industry, creating immense opportunities for improved experiences for employees and the customer. With increased competition from fintech and big tech firms, what are the most important workplace technologies that will transform banking services and making banks and credit unions more future-ready? I am excited to have Leo Brito, EVP Workforce Experience and Productivity Solutions at Wells Fargo on the Banking Transformed podcast. Leo shares why financial institutions must prioritize workplace technology investments in 2023. 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 How do you find your feet on ground that’s constantly shifting? You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad. Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-report FIS. Advancing the way the world pays banks and invests.

Many banks focus on the technology needed to digitally transform their organization. But technology is only part of the equation. To be successful, leadership must manage internal and external expectations to improve both employee and customer expectations. Being named one of the most powerful women in banking several times, Amy Brady, the CIO of KeyBank, has leveraged her extensive career to build innovative solutions and end-to-end digital experiences at a time of massive change, increasing competition and unique challenges. We are very fortunate to have Amy Brady of KeyBank on the Banking Transformed podcast. Amy discusses how she manages more than 5,000 individuals cohesively, competing against much larger financial institutions and more nimble tech organizations.

While many digital banking initiatives revolve around making banking easier, that only scratches the surface on how to make digital banking better. Consumers want more than simple transactions … they want personalized solutions. Combining market leading innovation with digital banking transformation, U.S. Bank is working hard to build solutions that can quickly adjust to consumer’s evolving needs in real time. But building a digital banking platform that combines speed and scale is not easy. My guest on the Banking Transformed podcast is Dom Venturo, Senior EVP and the Chief Digital Officer of U.S. Bancorp. Dom discusses how US Bank is building a digital bank of the future and the trends and priorities he sees in the marketplace.

More than ever, branch networks must be rightsized and optimized. With data and analytics, banks and credit unions can determine the right mix of flagships, self-service locations, and everything in between. The objective is to enhance the organization's brand, creating better banking experiences that strengthen people and communities. My guest on the Banking Transformed podcast is Gina Bleedorn, Chief Experience Officer at Adrenaline. Gina shares the keys to future-ready branch distribution models that include new formats and functions driven by data and analytics.

The banking industry is facing an onslaught of competitive pressures — from revenues and profit margins to market share and adoption rates. Banking executives have been forced to reevaluate long held assumptions as they completely rethink their acquisition and growth strategies. What is needed to attract, engage, and expand relationships? How can banks and credit unions rethink their current operating model from the inside-out to become future-ready? My guest on the Banking Transformed podcast is Jeffery Kendall, CEO/Founder at Nymbus. Jeffery discusses strategies financial institutions should consider as we enter a new age of digital banking. This Episode of Banking Transformed is sponsored by FIS Discover Worldpay for Platforms, a payments platform that puts you in control and puts your software customers first. This all-in-one payment facilitation platform offers more than just embedded payments. With Worldpay for Platforms, take advantage of a full set of solutions including professional, managed, and advisory services to enhance your business. Make your software even better with a solution that easily integrates and adapts to your needs, helping you create experiences beyond payments. Visit FISglobal.com/WorldpayPlatforms to learn more.

Fintech has transformed the financial sector landscape rapidly and has blured the boundaries of both financial firms and the financial sector. This has created opportunities to build more inclusive and efficient financial services and promote economic development worldwide. Countries must embrace the opportunities that fintech firms provide and the potential for collaboration between fintechs and traditional banks. That said, there is still a need for new policies that encourage safe financial innovation and adoption. My guest on the Banking Transformed podcast is Jeremy Quainoo, Country Operations Director at JUMO. Jeremy discusses the opportunities and challenges facing fintech firms globally and how marketplaces must evolve 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 Discover Worldpay for Platforms, a payments platform that puts you in control and puts your software customers first. This all-in-one payment facilitation platform offers more than just embedded payments. With Worldpay for Platforms, take advantage of a full set of solutions including professional, managed, and advisory services to enhance your business. Make your software even better with a solution that easily integrates and adapts to your needs, helping you create experiences beyond payments. Visit FISglobal.com/WorldpayPlatforms to learn more.

As one of the early digital banking leaders, Ally has leveraged product innovation and highly relevant marketing campaigns to drive awareness and growth. Focusing on being an ally to consumers in their financial journey, Ally has tried to differentiate itself from traditional banks and credit unions. Consistency of message and a commitment to incremental product improvements have proven to be a formula for success. My guest on the Banking Transformed podcast is Andrea Brimmer, Chief Marketing and PR Officer at Ally Bank. Andrea shares how Ally is driven to become a primary partner when consumers look for help during difficult economic times and beyond. 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 Discover Worldpay for Platforms, a payments platform that puts you in control and puts your software customers first. This all-in-one payment facilitation platform offers more than just embedded payments. With Worldpay for Platforms, take advantage of a full set of solutions including professional, managed, and advisory services to enhance your business. Make your software even better with a solution that easily integrates and adapts to your needs, helping you create experiences beyond payments. Visit FISglobal.com/WorldpayPlatforms to learn more.

Marketers and product teams spend heavily on acquiring a customer, only to churn them with a bad first experience. Fraud is becoming an increasing problem with customer experiences, with research finding that payment fraud increased by as much as 70% in 2021. More than ever, we need a new way of looking at fraud prevention, one which deeply inspects user behavior before, during, and after the time of purchase, helping move money fast and without risk, improving the overall customer experience. I am excited to have Simon Taylor and Soups Ranjan from Sardine on the Banking Transformed Podcast. We discuss why security and risk-management leaders need to focus on ROI, false positive rates, and customer experience to protect the entire payments process. 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 Discover Worldpay for Platforms, a payments platform that puts you in control and puts your software customers first. This all-in-one payment facilitation platform offers more than just embedded payments. With Worldpay for Platforms, take advantage of a full set of solutions including professional, managed, and advisory services to enhance your business. Make your software even better with a solution that easily integrates and adapts to your needs, helping you create experiences beyond payments. Visit FISglobal.com/WorldpayPlatforms to learn more.

We continue to see the rise of digital commerce based on customer adoption of innovations like digital wallets, buy now pay later (BNPL), instant payments, and cryptocurrency. It is expected that the payments industry is primed for even more innovation over the next 5 years. The bottom line is investment in payments technology is needed more than ever to enable players to be more agile and future-ready, delivering faster speed and scale of innovation and greater revenue. Our guest on the Banking Transformed podcast is Dan Hanks, VP - head of product development for lending at i2c Inc. He discusses the evolving opportunities and challenges available in today’s payments ecosystem. This episode of Banking Transformed Solutions is sponsored by i2c i2c is a global provider of highly-configurable payment and banking solutions. Using i2c's proprietary "building block" technology, clients can easily create and manage a comprehensive set of solutions for credit, debit, prepaid, lending and more, quickly and cost-effectively. i2c delivers unparalleled flexibility, agility, security and reliability from a single global SaaS platform. Founded in 2001, and headquartered in Silicon Valley, i2c's next-generation technology supports millions of users in more than 200 countries/territories and across all time zones. For more information, visit www.i2cinc.com and follow us at @i2cinc.

In July of this year, Lindsey Johnson took the helm of the Consumer Bankers Association, replacing Richard Hunt, who had guided the organization for the previous 13 years. This is an important time for the CBA, as economic uncertainty, new legislative initiatives, the introduction of modern technologies, and a redefined structure of the financial services ecosystem are emerging. The challenges and opportunities are enormous. We are fortunate to have Lindsey Johnson, president and CEO of the Consumer Bankers Association (CBA) on the Banking Transformed podcast. In this episode, Johnson provides her perspectives for the future of retail banking and the CBA during a period of tremendous change. 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 Discover Worldpay for Platforms, a payments platform that puts you in control and puts your software customers first. This all-in-one payment facilitation platform offers more than just embedded payments. With Worldpay for Platforms, take advantage of a full set of solutions including professional, managed, and advisory services to enhance your business. Make your software even better with a solution that easily integrates and adapts to your needs, helping you create experiences beyond payments. Visit FISglobal.com/WorldpayPlatforms to learn more.

Financial institutions must accelerate their use of data and insights to improve customer satisfaction. By harnessing the power of AI-based personalization, banks can deliver the most relevant information, advice, offers and products … at scale and in compliance. It’s time to understand what each customer wants and needs … providing contextual service instantly. It’s also time to democratize data to enhance experiences for both customers and employees. I am excited to have Devin Poole, Sr. Product Marketing Manager from Coveo on the Banking Transformed podcast. Devin shares how banks and credit unions Increase NPS while reducing costs … finding opportunities to increase revenue and grow customer loyalty. This episode of Banking Transformed Solutions is sponsored by Coveo As a leader in applied AI, Coveo Relevance Cloud™ help financial institutions accelerate their digital transformations while prioritizing customer satisfaction. With the power of AI-based personalization, banks and insurers can deliver the most relevant information, advice, offers, and products — tailored to each client. For more information visit get.coveo.com/bankingtransformed

Finance is quickly moving from digital platforms into an era of hyper-personalization, where every user will have ultimate control over their data, their devices, and the value propositions created. This will have a profound effect on the entire banking ecosystem ... and society. Financial institutions are at risk if this transformation is not understood. With democratized finance, anyone can personalize every aspect of finance, including currencies and products created. I am excited to have Emmanuel Daniel, global thought leader, financial industry expert, and author of the book, The Great Transition: The Personalization of Finance is Here,” on the Banking Transformed podcast. Emmanuel shares how financial institutions will need to disrupt current business models to become future-ready. 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 Discover Worldpay for Platforms, a payments platform that puts you in control and puts your software customers first. This all-in-one payment facilitation platform offers more than just embedded payments. With Worldpay for Platforms, take advantage of a full set of solutions including professional, managed, and advisory services to enhance your business. Make your software even better with a solution that easily integrates and adapts to your needs, helping you create experiences beyond payments. Visit FISglobal.com/WorldpayPlatforms to learn more.

Traditional banks and credit unions continue to face competition from challenger and online-only banks willing to offer higher yields for savings and deposits. However, now may be the perfect time to use market instability to build new banking relationships with innovative deposit and lending products. In addition, banks can leverage an understanding of consumer behaviors to detect deposit-pricing sensitivities and tailor promotional offers to reach consumers most at risk of attrition and those who may move relationships to your organization. We have Ryan Walker, Executive Strategist for Kasasa on the Banking Transformed podcast. Ryan shares how banks and credit unions target promotional deposit and loan offers to grow relationships without sacrificing profitability and margins. This episode of Banking Transformed Solutions is sponsored by Kasasa As the Fed continues to raise rates, an account with a compelling rate may have many consumers rethinking where their loyalty lies. In this podcast, you’ll learn how community financial institutions have a unique opportunity to use the instability to establish new banking relationships now that ultimately lead to primary financial institution relationships — generating more non-interest income, and higher loan volumes. For more information visit https://www.kasasa.com/RisingRates

Chase, the digital banking app launched by JPMorgan, has reached one million UK customers after launching in September of last year with a 1% cashback deal and fee-free overseas card use. This growth exceeds the growth of both Monzo and Starling … two other UK neobanks. 10x Banking, the UK-based cloud-native banking technology business, created the platform that powered Chase’s entry into the UK retail banking market. The platform provided a scalable architecture that will allow Chase to expand its retail banking proposition in the UK and beyond. To discuss why a scalable core banking platform built on micro-services and APIs is the key to building a digital bank, we have Antony Jenkins, CEO and founder of 10x Banking on the Banking Transformed podcast.

Americans’ total credit card balance reached $887 billion in the second quarter of 2022, with close to a $50B jump since the first quarter of 2022. The 13% increase since 2021 is the largest year-over-year jump in more than 20 years. Unfortunately, most people with an active credit card account aren't able to pay their bills in full. At the same time, the average APR for all current credit card accounts jumped in the second quarter of 2022. How can consumers get control of their credit card debt? My guests on the Banking Transformed podcast are Frida Leibowitz and Rachel Lauren, cofounders of the habit-shifting rewards platform for debt payoff, Debbie. They share how Debbie challenges the status quo of how financial institutions can use incentives to drive higher engagement that leads to better financial outcomes.

Banks are making significant investments in their data and analytics initiatives. Unfortunately, most organizations struggle moving from the data preparation and analytics process to the “last mile” of data utilization, where insights are translated into process changes and customer outcomes that drive value. The last mile is where the focus moves from great reports to exceptional results. At this stage, the insights generated become part of improving internal processes and personalization that help decision making and improve customer experiences. We have Greg Spencer, Senior Sales Engineer at Segmint, an Alkami Company, on the Banking Transformed podcast. Greg shares how banks and credit unions must focus on ‘finishing strong’ as they leverage insights for improved results. 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. Visit HERE to learn more about Segmint.

Launched shortly after the 2008 financial crash, Betterment pioneered robo-advisory services and opened the door for individuals to manage their money without the engagement of traditional financial advisors. Despite tremendous growth, a valuation of $1.3 billion in 2021, and a customer base of more than 700,000 customers, limited market potential and increased competition impacted the potential for long-term sustainable growth. This prompted Betterment to expand services offered and markets served. My guest on the Banking Transformed podcast is Michael Reust, president of Betterment. Mike shares how Betterment is using a challenger mindset to future-proof earnings and growth.

The demand for fast, humanized digital engagement has reached new heights, and is changing the financial services landscape. More than ever, customers have switched from wanting to visit a branch to connecting with a human representative via digital channel. Financial Institutions that aren’t prepared to adapt to this new paradigm are at greater risk of losing both market share and the growth that these new channel engagement opportunities provide. I am excited to have Katherine Regnier, CEO of Coconut Software on the Banking Transformed podcast. Katherine shares how banks and credit unions can bridge the gap between digital and physical client experiences to create a seamless experience customers crave. This episode of Banking Transformed is sponsored by Coconut Software: Make navigating your digital and in-person channels a smoother process for customers, members, and staff. Coconut’s appointments, queuing, and video banking platform makes connecting with your institution a breeze. With Coconut’s self-serve tools, customers and members choose when and where they engage your team. Explore why 150+ financial institutions choose Coconut to transform their customers’ and members’ experience at coconutsoftware.com.

In the past, consumers relied almost exclusively on legacy banking institutions for their financial interactions. Today, businesses across all industries have access to embedded banking products enabled by Open Banking policies and powered by Banking-as-a-Service (BaaS) providers. Embedded financial services within the user journey makes the experience seamless for the user and unlocks revenue streams and analytics for businesses. The question becomes, what is the role of traditional banks in this new business model? My guest on the Banking Transformed podcast is Anthony Burton, SVP of connected banking, open finance, and embedded banking at Truist. Anthony shares how Truist is embracing this opportunity and how this will impact current and future customers. This Episode of Banking Transformed is sponsored by FIS When customers need to pay, borrow, or invest, are you there? FIS believes the future of financial services delivery is giving customers what they want, whenever and wherever they are. SMB Embedded Finance enables Financial Institutions and Technology Companies to deliver critical financial services to small businesses at their point of need. Visit FISglobal.com to learn more.

An Aberdeen Research report shows that improving operational efficiencies is now taking a back seat to customer experience in back-office operations. This should not be a surprise, especially in financial services. Companies that create greater synergies between service and back-office are more successful at transforming their back-office into a strategic differentiator supporting their CX objectives. The question is, where do you start? I am excited to have Nicole Nevulis, Global Senior Director at Verint on the Banking Transformed podcast today. Nicole shares how banks and credit unions can transform the back-office to become a competitive differentiator for long-term customer service success. This episode of Banking Transformed is sponsored by Verint Verint® helps the world’s most iconic brands build enduring customer relationships by connecting work, data and experiences across the enterprise. We help financial institutions eliminate inefficiencies created by organizational and data silos and consistently deliver differentiated experiences at scale across every interaction. With Verint, brands can create One Workforce to best leverage their resources to deliver exceptional customer engagement. For more information visit https://www.verint.com/back-office-workforce-management/?redirect-rule=

Utah-based open finance solution provider MX Technologies has named several PayPal veterans to lead the firm’s next phase of growth. This growth will include the continuation of using data to deliver intelligent and personalized money experiences, while connecting technology partners to financial institutions with modern solutions that improve results. MX powers 85% of digital banking providers, as well as thousands of banks, credit unions, and fintech firms, with a combined reach of over 200 million consumers. Recorded at the MX Money Experience Summit, my guest on the Banking Transformed podcast is Jim Magats, the CEO of MX. Jim shares how he and his team see MX moving forward, and the importance of data and insights as the foundation of the entire 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

Banks and credit unions are challenged to satisfy consumers with the traditional services they have used for decades, while also delivering the latest offerings that a growing portion of consumers desire. More than ever, consumers are willing to take their business to other financial institutions to find innovative products and services, with more consumers than ever willing to diversify their financial services partners to get what they want. We are very fortunate to have Kris Kovacs, president and CEO of Constellation Digital Partners on the Banking Transformed show. He discusses how financial institutions that deliver the innovations that best satisfy demand will reduce the likelihood that business will go to another FI or a FinTech. 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 When customers need to pay, borrow, or invest, are you there? FIS believes the future of financial services delivery is giving customers what they want, whenever and wherever they are. SMB Embedded Finance enables Financial Institutions and Technology Companies to deliver critical financial services to small businesses at their point of need. Visit FISglobal.com to learn more.

Nearly two-thirds of consumers indicate they manage their financial relationships predominantly online or via their mobile device. In addition, nearly 70% of consumers feel faster payment capabilities from their current financial institution is an important driver of satisfaction. To address these expectations, the Federal Reserve Banks are developing FedNow to enable financial institutions of every size to provide safe and efficient instant payment services in real time, around the clock, every day of the year. We have Nick Stanescu, FedNow Business Executive, Federal Reserve Financial Services, on the Banking Transformed podcast. Nick provides an update on the future introduction of the FedNow Service and discusses the benefits of the service in the future. This episode of Banking Transformed is sponsored by FedNow The FedNow Service is a new instant payment infrastructure that the Federal Reserve Banks are launching in mid-2023 to enable financial institutions of every size across the U.S. to provide safe and efficient instant payment services in real time, 24x7x365. For more information visit https://explore.fednow.org/

While the fintech industry is growing rapidly, it is still rare to see women as fintech founders or women holding leadership roles. More concerning is the fact that women fintech founders are lower in North America than other regions of the world. In August, a collaboration between BMO Harris Bank and 1871, a #1-ranked private business incubator, provided women entrepreneurs the opportunity to bring their innovative technologies and products forward. My guests on the Banking Transformed podcast are BMO Harris’ Niamh Kristufek, US head of business banking and Andrew Harrison, Head of US Digital Partnerships. They share the results of this year’s incubator program and the importance of greater inclusion in the fintech space. 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 When customers need to pay, borrow, or invest, are you there? FIS believes the future of financial services delivery is giving customers what they want, whenever and wherever they are. SMB Embedded Finance enables Financial Institutions and Technology Companies to deliver critical financial services to small businesses at their point of need. Visit FISglobal.com to learn more.

As new players continue to expand market share with data and customer-centric business models, incumbent banks face an urgent need to modernize systems to remain competitive in the payments landscape. By investing in emerging digital technologies, banks can address evolving customer preferences, mitigate risk, and achieve regulatory compliance. My guest on the Banking Transformed podcast is Nick Botha, Business Development Manager at AutoRek. He discusses the importance of an end-to-end platform designed reduce costs, improve efficiency, and streamline your reporting processes. This episode of Banking Transformed is sponsored by AutoRek AutoRek is a trusted vendor of data management solutions by the world’s largest financial institutions with extensive experience across banking and payments. The end-to-end payments reconciliation platform is designed to overcome the most difficult challenges for managing reconciliations, data management and reporting. AutoRek combines cutting edge technology, first class implementation and subject matter expertise to deliver custom solutions that save our clients both time and money. For more information visit autorek.com https://www.autorek.com/en-us/solutions/reconciliations/

Despite the benefits of easy information access, the amount of information each human needs to process is overwhelming, creating a reduction in comprehension and decision quality. The question most leaders have is, “How do I keep on top of so much information?” Those who can absorb and convert the vast amount of available information into insights, action, and a view of the future will generate success and results beyond their peers. My guest on the Banking Transformed podcast is Ross Dawson, chairman of the Advanced Human Technologies group of companies. He discusses how leaders can not only cope with today’s information overload … but thrive on 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 This Episode of Banking Transformed is sponsored by FIS When customers need to pay, borrow, or invest, are you there? FIS believes the future of financial services delivery is giving customers what they want, whenever and wherever they are. SMB Embedded Finance enables Financial Institutions and Technology Companies to deliver critical financial services to small businesses at their point of need. Visit FISglobal.com to learn more.

Trust in banking hinges on the ability of financial institutions to safeguard identities and keep consumer and business data private, particularly during online account opening and onboarding. Unfortunately, traditional Know Your Customer (KYC) and Know Your Business (KYB) verifications is often synonymous with tedious and manual processes, friction, and onboarding delays. The longer these processes take, the greater the negative impact to client acquisition. My guest on the Banking Transformed podcast is Chris Luttrell, the CEO of IDology. She discusses what can be done to foster trust across the entire customer journey, while improving the customer experience for consumers and businesses. This episode of Banking Transformed Solutions is sponsored by IDology ExpectID® Business is an automated KYB solution that is imperative for any business that wants to remain competitive. With ExpectID® Business, IDology has combined KYB and KYC due diligence with multiple layers of risk detection and fraud intelligence into one powerful, programmatic solution. The solution goes beyond KYB and KYC verification to provide a holistic perspective of the risk associated with both the business and the primary user. For more information visit https://www.idology.com/business-verification/

The banking sector has always been data intensive. Today, AI technology has the capability to improve efficiency, increase innovation, boost differentiation, manage risk and regulatory needs, and positively impact the customer experience. While more than 80% of financial services AI adopters say that AI will be very or critically important to their business’s success in the next two years, it’s time for banks to move beyond the hype and consider practical applications of AI across the entire organization. On today’s Banking Transformed podcast, we have Imtiaz Adam, global AI influencer and founder of Deep Learn Strategies Ltd. He will share why financial institutions must make adoption of AI technologies across the entire enterprise a strategic imperative.

More than ever, financial marketers can trigger automatic action by applying behavioral science principles in marketing strategy and creative execution. If you have a behavioral understanding of your customer, they will find you, refer business, and share insights that will help your efforts succeed. At a time when both print and digital marketing involve as much art as science, behavioral science is a critical tool for understanding how consumers will react to various tactics and strategies. My guest on the Banking Transformed podcast is Nancy Harhut, cofounder of HBT Marketing. Nancy shares why marketers cannot afford to ignore behavioral science since it can shed light on why people buy or don’t buy your brand.

Customer expectations are changing faster than ever. Unfortunately, most banks and credit unions are playing catch-up, with siloed data, back-office technology that was built decades ago, and processes that move too slow. Continuous Product Design, supported by real-time data, can help organizations deliver digital solutions that are personalized, empathetic, and delivered with speed and scale. My guest on the Banking Transformed podcast is Mario Ciabarra, founder and CEO of Quantum Metric. Mario discusses how banks can use data to drive digital product design and deployment that enhances customer experiences and increases engagement. This episode of Banking Transformed is sponsored by Quantum Metric As the pioneer in Continuous Product Design, Quantum Metric helps organizations put customers at the heart of everything they do. The platform empowers a customer-centric culture, helping business and technology teams align faster on customer needs and prioritize the opportunities that will drive the most value. Today, Quantum Metric captures insights from 29 percent of the world’s internet users. For more information visit www.quantummetric.com

More than ever, creating an organization that responds to customer’s needs, cares for and inspires employees, embraces purpose, emphasizes diversity, equity, and inclusion, and helps a firm become future-ready — all boil down to one thing: leadership. While conversations about the importance of a disruptive mindset started well before the pandemic, the crisis accelerated the need for strong leadership significantly. The question becomes how ready is existing leadership to lead an organization to success during uncertain times? My guest on the Banking Transformed podcast is Charlene Li – Chief Research Officer, PA Consulting. Charlene shares how leadership can better embrace change, accept risks, and help organizations become future-ready.

Most mortgage experiences are overwhelming and full of friction, with outdated processes that includes a stack of paper forms and multiple in-person meetings. And, while many financial institutions would like to provide a better experience, resources are scarce. New mortgage-as-a-service (MaaS) solutions allow smaller financial institutions to utilize best-in-class technology, while still retaining personalized engagement. This enables local banks to compete with larger financial institutions for the most important household relationship. My guests on the Banking Transformed podcast are Jonathan Price, EVP of Q2 and Sam Schey, EVP of Rocket Mortgage. They are going to explain how a bank can combine an industry-best digital mortgage process with a bank’s existing mobile and online banking platform. This episode of Banking Transformed is sponsored by Q2 Today, digital banking is more than a channel—it’s how financial institutions deliver their brand, manage customer relationships, and grow their business. Q2 helps FIs wherever they are on their digital transformation journey, with a portfolio of consumer and commercial solutions that help customers save, spend, borrow, and engage. More at Q2.com

Small businesses are the foundation of the American economy, with 30.2 million small businesses making up 99.9% of American businesses and employing 47.5% of American employees. Despite the size of this segment, small businesses have unique challenges such as funding, payment processing, money transfer and more. In addition, most traditional small business bank processes are antiquated and time-consuming. My guest on the Banking Transformed podcast is Corey LeBlanc, co-founder of Locality Bank, a digital-first community bank based in Fort Lauderdale. Corey shares the mission of this start-up and how Locality is using financial technology to make processes more efficient, saving money and better serving their customers.

Embedded finance integrates financial services, such as payments, lending, insurance, etc. within a non-financial business’ infrastructure. This provides a seamless bridge between a brand, the consumer, and a financial solutions provider. The expansion of embedded finance solutions on the B2C side have skyrocketed, while B2B solutions have seen much more tepid growth. Innovation of both forms of solutions is expected to continue to be robust in the foreseeable future. We are very fortunate to have Mike Kresse and Taira Hall from FIS Global on the Banking Transformed podcast. They discuss the current embedded banking and Banking as a Service can provide both opportunities and threat in the future. This Episode of Banking Transformed is sponsored by FIS When customers need to pay, borrow, or invest, are you at the point of need? The future of financial services delivery is giving customers what they want, whenever and wherever they are. FIS Embedded Finance gives any company or financial institution the tools to build finance solutions based on customer needs. Discover how embedded finance technologies could affect your business. Visit here: www.fisglobal.com/en-gb/market-movers/embedded-finance

Becoming adept at digital banking is not simply about technology. It’s about the way banking leaders adapt to the pace of change and continually rethink how they can create and deliver value in a digital economy. Most importantly, it is understanding that the digital banking transformation process is a never-ending journey … with no end point. My guest on the Banking Transformed podcast is Liz Wolverton, Head of Consumer Banking and Brand Experience at Synovus. Liz shares how building the muscles for continuous change at Synovus allows the bank to adapt to future change more rapidly, which makes the bank more resilient. This Episode of Banking Transformed is sponsored by FIS From super apps and crypto to embedded finance and financial inclusion, we’re a long way away from the world of cash and checks. That’s why FIS has published The Global Payments Report. The Global Payments Report makes it easy to understand what your consumers want now – and in the future. Read about the trends transforming payments and what they mean for your business. FIS also gives you an in-depth view of how consumers pay when shopping online and at the point of sale in more than 40 markets, along with the latest insights into real-time payments trends, digital wallets, and even Crypto. Discover how the latest payments technologies could affect your business. Get your report today by visiting fisglobal.com/gpr. FIS. Advancing the way the world pays banks and invests.