Banking Transformed with Jim Marous

The economy has been top of mind for consumers throughout 2022 and into 2023. In a survey by PSCU, nearly nine in ten consumers stated they were worried about the economic outlook, while three-quarters also reported they were concerned about their personal finances. In response to economic uncertainty, consumers want choice and variety when making purchases and transacting. In fact, most consumers said they are using a greater variety of payment methods than they did a few years ago, including digital payment options. We have Tom Pierce, CMO of PSCU on the Banking Transformed podcast. He shares the results of the most recent Eye on Payments study done by PSCU and provides insights into how financial institutions can better serve members and customers. This episode of Banking Transformed Solutions is sponsored by PSCU Through this annual research, discover how PSCU explores the factors that influence consumers when it comes to their choice and usage of different payment methods, how these factors may vary am

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

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 gi

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

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 fin

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 b

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 y

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 degr

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

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 commun

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

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 meaningfull

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 o

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

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

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 T

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

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.