Banking Transformed with Jim Marous

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 ad

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

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

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

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-effe

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

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 m

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,

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 ho

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 bi

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-ser

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

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 consistent

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 servic

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 wor

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

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