Banking Transformed with Jim Marous

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

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

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

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

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

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

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

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

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

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

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

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

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.

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.

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

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

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

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.

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

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.

The majority of financial institutions rank improving customer experience as their top mission, but few organizations get rave reviews. In fact, since the pandemic, it could be argued that the banking industry is doing a worse job in meeting consumer expectations. On this episode, we discuss how financial institutions need to reset their strategies around improving CX in a digital world. The competition has expanded, and consumers understand what is possible. The question is whether financial institutions are ready? We are joined by Jay Baer, one of the foremost leaders in the world of customer experience and marketing. He is founder of Convince & Convert, and the author of six best-selling books, including his newest book, “Talk Triggers: The Complete Guide to Creating Customers with Word of Mouth.” 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

Doing good for the community, employees and customers goes well beyond philanthropy. Organizations need to look within to embed sustainability and social responsibility strategies into their business model, their culture and the people and organizations they interact with. Now more than ever, businesses need to think beyond profits and look at their entire value creation process to the world as a whole. What organizations will find is that there isn’t just a moral imperative for businesses and organizations to behave responsibly, but a financial one as well. We are fortunate to have Theo Lau and Bradley Leimer on the show today. They are the founders of Unconventional Ventures, and the authors of a brand new book, Beyond Good: How Technology is Leading a Purpose-driven Business Revolution. 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

Buy now, pay later (BNPL) solutions have grown in prominence as new players and payments incumbents are battling for market share. This includes firms like Affirm, Afterpay, Klarna, QuadPay, Sezzle, and Splitit, as well as legacy payment firms like Mastercard, Visa, PayPal, and Amex. How will these providers will impact traditional POS card volume or damage the appeal of retailers’ private-label cards? And, who will win the battle for the younger consumer who is drawn to this payment option? We are joined by Adam Hughes, the CEO of Amount, a fintech provider that offers a robust point-of-sale financing product suite. Adam discusses the growth of the buy now, pay later marketplace, and how traditional financial institutions can remain competitive for this business. 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

The pandemic has served to accelerate the relevance and importance of open banking as consumers become more willing to try alternative banking providers to get their digital banking needs met. At the same time, there has been a rise in contactless payments, as consumers replace cash at the point of sale. These dual market forces have provided an opportunity for big tech players, such as Apple, Amazon and Google to increasingly expand their platforms into financial services. We are joined by Pinar Ozcan, Professor of Entrepreneurship and Innovation at the Saïd Business School at Oxford University. Pinar discusses how innovation in banking has been impacted by the pandemic, and the rise of big tech platforms. 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

Over the past year, Marcus by Goldman Sachs has continued to expand offerings, including teaming up with Amazon and Walmart to offer loans to sellers on their marketplaces, buying the General Motors credit card business, launching Marcus Insights smart tools and trackers, and most recently, announcing the offering of a digital investing platform. All of this is before the long-anticipated addition of a digital checking account.. We are very fortunate to be joined by Sonali Divilek, head of product for consumer business at Goldman Sachs, which includes Marcus by Goldman Sachs. Sonali discusses the product development strategy of Marcus, and how a partnership mentality has helped Marcus become a force in the retail 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

One of the biggest problems facing legacy banking organizations today is leveraging data and advanced analytics to drive digital transformation, creating hyper-personalized experiences, supporting an innovative culture, and solving consumer challenges with appropriate technology. One organization that has emerged as a data-centric leader is TD Bank. Headquartered in Toronto, Canada, TD Bank is a top 10 bank with 85,000 employees and more than 26 million customers. Branding itself as America’s Most Convenient Bank, TD has quickly responded to the needs of the digital consumer. We are very fortunate to have John Thomas, EVP and head of global innovation at TD Bank on the show. John discusses how a data-driven culture positions this legacy financial institution to be a major force in banking well into 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

According to the Digital Banking Report, the top priority of the majority of financial institutions is to advance digital transformation. But what is the best way to proceed? And, where should organizations start? People’s United Bank, a regional bank based in Connecticut started by forming a “business transformation office” to focus on digitization and technology development. The team is responsible for optimizing and automating back office processes as well as setting up partnerships with financial technology companies. To understand how a $60 billion dollar bank has advanced digital transformation, we are joined by Ravi Vakacherla, EVP and chief transformation officer at People’s United. Ravi shares his perspective on where organizations should start and the roadblocks to digital transformation. 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

Late last year, it was announced that Google Pay will partner with legacy financial institutions in the development and distribution of checking accounts through a new service called Google Plex. In addition, Google announced a partnership with Deutsch Bank for cloud implementation and co-innovation of new products and services. For the banks, these partnership can be a way to quickly grow customer relationships and expand market coverage. These partnerships could also threaten banks that fail to execute real-time personalized digital strategies. Our guest for the show is Yolande Piazza, VP of financial services for Google Cloud. Yolande joined Google in mid-2020 after almost 15 years at Citi where she most recently managed fintech partnerships. In this episode, we discuss the financial service strategies at Google. We also discuss what the future of banking may look like and who the players may be.

As a result of the pandemic, people were forced to adopt digital alternatives to their traditional way of doing banking. This shift was not always smooth for the customer or the financial institution. Many consumers still wanted personalized interaction to learn about services. Financial institutions that want to improve engagement, interactions, and brand loyalty are responding with new forms of personalization, such as rich media like video. Our guest for the show is Jim Dicso, CEO of SundaySky. In this episode, Jim discusses how personalized video-powered experiences can drive breakthrough outcomes at key moments along the customer journey. This Episode 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

How can organizations compete for customers, time, attention and money in an increasingly digital world where time is limited, attention is scarce and the ability to genuinely engage with consumers has become more difficult than ever? One of the few brand differentiators available today is to build memorable and repeatable experiences. Unlike in the past, when many of these experiences could be built in a one-to-one tactile world, digital delivery changes the game. To better understand the challenges and opportunities of building a compelling customer experience, I am joined by fellow Clevelander Jim Gilmore. Jim is the coauthor, along with Joe Pine, of one of the best business books of the 20th century, "The Experience Economy". Jim shares examples of how executives from any industry can set themselves apart from the competition be creating personalized and transformative experiences. Episode Sponsor: Auriga Auriga is a leading supplier of software and technological solutions for the banking and payments industries, and a specialist provider of innovative omnichannel solutions to banks and other financial institutions. Auriga wants to help bank branches avoid closure by moving to a “Lean Bank Branch” model. The model reinvents branches as leaner operations, creating enhanced value for customers based on self-service for simple functions and video calling booths for one-to-one personalized advice - reducing their operating costs. As safety has been redefined by COVID worldwide, the lean bank branch requires no contact yet puts human connection and conversation back into banking. Find out more at www.aurigaspa.com/leanbankbranch/ LinkedIn - https://www.linkedin.com/showcase/auriga-uk-the-banking-e-volution/ Twitter - @aurigaSW

The pandemic changed the business landscape for all industries … possibly none more dramatically than financial services. Already being impacted by non-traditional players, financial institutions needed to shift in an instant to satisfy customers no longer able to conduct business in traditional ways. What will 2021 look like? What major shifts will occur that will last into the future? What could surprise us in an ecosystem where change is one of the only constants? To get a perspective on the future of banking and fintech, we are joined today by Ron Shevlin, the Managing Director of Fintech Research at Cornerstone Advisors. Ron is the author of the book Smarter Bank and is a senior contributor for Forbes. Ron is also ranked among the top banking influencers globally and is a frequent keynote speaker. This episode 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

Mobile banking usage is rising quicker than ever as a result of the pandemic. With close to 50% of consumers stating that mobile is a top-three factor that determines their choice of financial institutions (after fees), it is imperative that banks offer mobile features that consumers value most. However, it is not enough to just enable mobile banking capabilities. Banks must also remove friction and provide the user experience that consumers desire as well. The guest for the show is Mark Donohue, founder and CEO of Hong Kong-based iSky Research. In this episode, Mark discusses what makes a mobile banking leader, given the insight Mark has from monitoring hundreds of banks globally on functionality and user experience.

Research from the Digital Banking Report has found that the biggest barrier to successful digital transformation is legacy leadership and culture that is unable to embrace the skills and mindsets needed for the future of banking. The future of banking and the future of work has made it clear that a different type of leader is required to guide people and organizations to success in the next decade. The question is whether financial industry leaders at all levels can embrace change, take risks and disrupt themselves. We are joined today by Jacob Morgan, futurist, TED speaker and best-selling author of 4 books including his newest book, The Future Leader. On the show, Jacob shares insights from his in-depth research on how leadership is changing, what leadership is going to look like in the future, and what we need to do now to be future-ready leaders. This episode 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

As the largest U.S. bank, Chase is committed to a strong multichannel strategy, building new branches while also being a leader in digital banking innovation. With 55 million digitally active customers, representing close to 70% of the Chase customer base, Chase continues to provide consumers with the banking options they desire—whether it be physical to digital. With the pandemic making consumers more aware of the need for digital banking solutions, as well as more demanding of their digital banking experience, the need to improve both speed and simplicity of digital engagement has never been more important. To understand how Chase continues to be a leader in digital channel growth, we are joined today by Allison Beer, Head of Digital at Chase bank, where she leads digital innovation for the bank. In the episode, we discuss the impact of the pandemic on digital banking and the future of digital at Chase. Episode Sponsor: 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

Founded in 2006, Tinkoff is Russia’s largest online challenger bank offering a huge range of services, including mobile personal and business accounts, investment and insurance products, as well as being Russia’s second-largest issuer of credit cards. Tinkoff has also diversified into non-financial services, including travel, ticketing and bookings services — all available through its lifestyle super app. This expansive array of services has led to profits of over $500 million in 2019, with a current customer base of more than 12 million customers. Tinkoff consistently wins awards as the best digital-only bank, serving customers remotely via online channels and a cloud-based call center. TCS group also has a proprietary nationwide network of representatives. Our guest for the show is Oliver Hughes, CEO of Tinkoff. In this episode, we discuss how the combination of an innovative business model, a strong team and a recognized brand can yield success anywhere in the world. Episode Sponsor: 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

We have had the opportunity to interview many fintech start-ups and challenger banks on the Banking Transformed podcast. None are like Starling Bank. First of all, Starling was founded by a woman with a legacy banking background. Not just any woman, but an extraordinarily tenacious, middle-aged, short-statured woman who doesn’t fit the traditional mode of a fintech founder. Anne Boden had a view of what banking should look like in the future far before many of her challenger bank peers. What also sets Starling bank apart is that they have become the first of the new breed of digital banks in the UK to become profitable. With nearly 1.8 million accounts, £4 billion in deposits and £1.5 billion of lending, they have doubled their customer base in the past year and continue to introduce new services at a frenetic pace. We are joined today by Anne Boden, founder and CEO of Starling, and author of a new tell-all book, Banking On It: How I Disrupted an Industry. On the show, Anne provides an inside look into the origins, successes and challenges of Starling Bank.

When COVID-19 hit, the banking industry was caught off-guard, needing to provide financial services without physical structures, deliver relief to consumers and small businesses in ways never imagined, accelerate digital transformation and innovation efforts, and perform all of these in a remote work environment. With the pandemic crisis mode mostly in the rearview mirror, financial institutions are determining the next best action – placing their bets for the future. Some are doubling down on investments in data, analytics, advanced technology and the reskilling of workforces. Others are delaying or cancelling projects, focusing mostly on improving digital maturity and efficiency. We are joined today by Jim Eckenrode, managing director of the Deloitte Center for Financial Services. On the show, Jim discusses how the financial services industry adjusted to the impact of the pandemic, and what the outlook for the industry will be in 2021 and beyond.

Banking has historically been an industry founded by men, run by men, with products created for men. Recently, progress has been made, but the gender bias in banking still runs deep. Surprisingly, this same bias exists in fintech, where there are far too few female fintech founders and too few women working at these new start-ups. The question is, is this a supply issue or a demand issue? More importantly, how do we address these imbalances that continue to impact the funding mechanism, the ability to get new ideas heard, and the potential for innovations geared to women? We are joined today by Neha Mehta, founder of Femtech Partners, a consulting firm based out of Singapore helping fintech start-ups get a foothold in Asia and promoting women in fintech. On the show, Neha discusses some of the challenges women face in getting an equal opportunity for funding, having a seat at the management table, working at start-ups, and having the ability to create solutions geared to the female market.

The best way to increase sales, loyalty and customer satisfaction is to reduce the effort needed to proceed along the customer journey. Jeff Bezos said, “When you reduce friction – make something easy – people do more of it.” Customers have been trained by companies like Amazon, Google, Uber, Netflix, Rocket Mortgage and others that processes can be simplified in a digital world. The key is to be able to identify roadblocks and change them for the benefit of both your company and the customer. We are joined by Roger Dooley, author of the books ‘Brainfluence: 100 Ways to Persuade and Convince Customers With Neuromarketing’, and ‘Friction: The Untapped Force That Can Be Your Most Powerful Advantage’. During the interview, Roger shares how behavioral science can help identify and eliminate the friction that can destroy a customer experience.

The outbreak of the COVID-19 posed great challenges to the global economy and people’s daily lives, and has had far-reaching consequences beyond the spread of the disease. It has changed the way consumers perform transactions and engage with friends, family and organizations. At the same time, the pandemic was the foundation for increased creativity and innovation. In the banking industry, we have seen new products developed, new ways of engaging emerge and traditional services transformed for a new digital era. To discuss the findings of our Retail Banking Innovation 2020 Digital Banking Report report, we are joined by Sanat Rao, Chief Business Officer and Global Head of Infosys Finacle, the sponsor of the report. In this episode, we discuss this year’s findings and the ramifications for financial institutions in the future.

While almost every financial institutions wants to market to, and build relationships with, the Gen Z consumer, few organizations understand who the Gen Z consumer is, what they want from a brand, how to market to them, or how to make them loyal customers. Just as importantly, few organizations understand how to recruit and retain them as loyal employees. Bottom line, the Gen Z consumer is often misunderstood or categorized only by their digital channel inclinations. Financial institutions need to much dig deeper to maximize the value of this important segment. We are joined today by Jason Dorsey, president of the Center for Generational Kinetics and the foremost leader in the understanding of the Gen Z consumer. On the show, Jason shares insights from his most recent global research that is featured in his new book, Zconomy, How Gen Z Will Change the Future of Business – And What to Do About It.

Before the pandemic, digital transformation was optional for many organizations. When COVID-19 took hold, necessity dictated that all organizations ‘become digital’. Remote work became the norm, and the agenda for technology investment changed as consumers and businesses expected experiences similar to what they received from Amazon, Netflix, Zoom and Uber. But the future of banking is far from clear. There are optimists who believe the industry will transform itself through modern technology to be more than it is today. There are pessimists who believe traditional banking is dead. The reality is probably somewhere in between. We are fortunate to be joined today by Theo Priestley, globally recognized futurist and international speaker, author, and authority on the future of business, technology, and society. He is also working on a collaborative book entitled, 'The Future Starts Now'. During the interview, Theo provides perspective on what we can expect as consumers and as bankers.

When you think of global leaders in digital banking, the conversation must start with Tencent-backed WeBank, the first digital-only bank in China. Launched at the end of 2014, WeBank has experienced astounding growth, with digital technology that is considered an industry best. Today, WeBank has over 200 million customers and is the leader in assets, loans, net profits, return on equity in the Chinese digital banking space. WeBank was founded with the mission of providing ‘“affordable, accessible, appropriate, and sustainable” banking services for underserved individuals and small businesses. As opposed to being a bank with technology advantages, it is a shining example of a technology company with banking licenses. We were granted an exclusive interview with Henry Ma, executive vice president and CIO of WeBank who I met back in January when I visited WeBank in Shenzhen. During the interview, Ma discusses WeBank’s mission of delivering financial inclusion at scale by leveraging AI, blockchain, cloud computing and big data.

According to a recent survey by Deloitte, nearly two-thirds of respondents said that global digital identity will be very important in the future despite the fact that digital IDs are still largely underused in the world today. Newer digital identity verification methods, like biometrics, could provide far superior authentication protocols and offer customers more seamless experiences while protecting against fraudsters. Digital IDs could also greatly enhance the gig economy, where the identity of remote workers is paramount to the protection of valuable corporate and consumer assets. While passwords are currently king, the development of universal digital recognition solutions that are both seamless and secure will eventually be the norm. We are fortunate to have Dave Birch, Author, advisor and commentator on digital financial services on the show today. During the podcast, Dave discusses the benefits and risks of digital identity, the role of the banking industry, and how we must balance connected commerce with human rights.

In late 2019, BB&T and SunTrust combined to become the 6th largest bank in the country, serving 10 million households. Looking at the strategic and financial benefits of the merger, the mission was to preserve the strong cultures of the legacy organizations, while using the combined scale and cost savings to build best of breed systems, processes and digital capabilities. At the time of the merger, the question was whether two legacy banking organizations could reinvent themselves for the future of banking, making the foundational changes needed in culture, leadership focus, and innovation spirit ,while retaining what customers of both organizations had cherished from the past. I am joined today by Scott Case, the CIO of Truist. In this episode, we discuss the status of this historic merger, the role technology and innovation has played, and the impact that COVID-19 has had on the intended results.

In May of this year, Brian Brooks took office as Acting Comptroller of the Currency (OCC). During his short tenure, Brooks has already made statements regarding the role of banking organizations in supporting communities, approved the first national charter to a fintech organization and suggested a federal payments charter. He has even asked for public input on how banks store and manage crypto. It is clear that Brooks has a significantly updated perspective on the role of the OCC than his predecessors or the leaders of other regulatory bodies. It is still to be seen how broad the changes in regulations will be going forward. We are fortunate to be granted an exclusive interview with Brian Brooks, the Acting Comptroller of the Currency (OCC). Brooks’ background includes roles at OneWest Bank, the board at Fannie Mae and as chief legal officer at Coinbase. In today’s episode, we discuss the speed of how regulations are changing and the expected impact on legacy banking.

There has never been a more important time for executives to evaluate their position in the marketplace and to determine their future path to personal and professional success. No matter what your position in an organization, you can’t be successful without loving what you do and being recognized for who you are. Now more than ever it is time to embrace change, take risks and transform yourself. Or, as my guest today would say, “Be Bold, Be Brilliant, Be You”. I am joined today by Katrina McGhee, executive vice president of marketing and communications for the American Heart Association. Katrina is a world renowned brand strategist, innovator, success coach, keynote speaker and the author of two books: "Loving on Me!: Lessons Learned on the Journey from MESS to MESSAGE" and "BE BOLD BE BRILLIANT BE YOU: Lessons from the C-Suite to Accelerate Your Career." During the show, Katrina discusses her non-traditional career path, and shares ideas on how women (and even men) can understand who they are, what they want, what they can uniquely contribute and how to realize the dream life once felt to be unachievable.

In a post-COVID world, financial institutions must deliver innovative credit options, on-demand, in an almost instantaneous manner. To accomplish this feat – which had previously only been offered by fintech firms – traditional financial institutions will need to rethink back-office processes that currently hinder the speed to deliver digital credit. This will require the rethinking of everything from an organization’s origination process, to credit checks, to the operation of approvals, focusing on being able to use data to reduce costs, improve speed and expand the potential marketplace. I was very fortunate to be granted an exclusive interview with Christopher Maloof, chief product officer at MeridianLink, as part of the Banking Transformed podcast. His perspective on the results of this year’s research is a great overview on what banks and credit unions must do to succeed in the future.

Dubai-headquartered Emirates NBD has the distinction of being a legacy bank fully committed to innovation, digital transformation and customer-centricity. Rather than moving in baby steps, Emirates has made major efforts to build unique digital solutions for select segments. In 2017, Emirates NBD introduced Liv, a digital lifestyle banking platform geared to the needs of Millennials and Gen Z customers. The most recent iteration of the digital app was introduced this summer, integrating several third-party platforms, allowing customers to book tables or flights, play games or get concert tickets, and receive discounts on food and retail. The app also provides a host of financial tools to better manage money. We are joined today by Jayesh Patel, the head of Liv, the first digital-only lifestyle bank which is part of Emirates NBD. With more than 300,000 users, Liv has leveraged an open API platform to expand product features and boost Emirates NBD’s revenues. On today’s episode, Jayesh discusses digital transformation at Emirates NBD, the importance of an innovation culture and the development of a challenger bank within a legacy banking organization.

Even before the pandemic, there was a financial crisis where many consumers had difficulty making ends meet, causing missed monthly payments or overdrafts with fees that quickly added up. Initially created as a budgeting tool to help consumers avoid overdraft fees, the Mark Cuban-backed fintech named Dave has morphed into a digital banking platform that provides free paycheck advances of up to $100, helps gig workers find jobs, plants trees and offers an alternative to the big Goliath banks. We were fortunate to get some time with Jason Wilk, co-founder and CEO of Dave. During the show, Wilk discusses his career path as a 4X founder, the mission of Dave, the increasingly competitive challenger bank space and how Dave responded to a recent security breach.