Afleveringen
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Join us for an enlightening interview with Maurizio Poletto, Chief Platform Officer at Erste Group, as he shares his remarkable journey of envisioning and bringing to life a next-generation banking platform â George â that reconnects people to their finances.
In this captivating conversation, Maurizio delves into the critical role of user-centric design in crafting intuitive banking experiences and discusses the pivotal role of technology in shaping the future of finance. Gain insights into Erste Group's visionary approach to redefining banking for the digital age and learn how they are empowering customers with personalized financial experiences tailored to their individual needs and preferences.
Don't miss out on this thought-provoking discussion that explores the intersection of technology, design, and customer empowerment in the banking industry.
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Join us for an insightful interview with Colin Walsh, CEO of Varo Bank, as he shares profound insights into Varo's mission and innovative approach to banking.
In this interview, Colin reflects on his extensive experience in the banking industry, from executive roles at Wells Fargo, Lloyds, and American Express to spearheading the creation of Varo Bank, the nation's first all-mobile nationally chartered bank.
Colin discusses Varo's commitment to addressing the needs of the underserved majority, highlighting the realities of paycheck-to-paycheck living in America and Varo's pivotal role in providing financial stability and opportunity.
Discover Varo's customer-centric philosophy and its focus on creating smarter, faster, and safer platforms tailored to the 60% of Americans living paycheck to paycheck.
Learn about Varo's innovative solutions, including high-yield savings, credit-building tools, instant money transfers, and early paychecks, designed to empower customers and transform their daily relationship with money.
Colin envisions a future where financial confidence and stronger cash flow are accessible to all, regardless of their socio-economic background.
Gain insights into Varo's relentless pursuit of financial inclusion, opportunity, and the cultivation of "raving fans" within the banking industry.
Explore the transformative potential of Varo Bank and its unwavering commitment to building a more equitable and inclusive financial landscape for generations to come.
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Zijn er afleveringen die ontbreken?
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Join us for an inspiring conversation with Brent Beardall, CEO of WaFd Bank, as he shares profound insights on leadership, customer centricity, and the role of technology in banking today. Less than a year after surviving a near-fatal plane crash, Brent reflects on how his perspective on life and business has evolved. Learn from his experiences and discover valuable takeaways for building a culture of care and customer trust, navigating industry challenges, and envisioning client experiences that customers will love. Don't miss this opportunity to gain wisdom from a leader who blends technological innovation with humanity and wisdom.
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This weekâs guest on Banking on Innovation is Meheriar Hasan, Chairman of BRAC Bank in Bangladesh.
With over 35 years of experience at prominent banks such as Wells Fargo and US Bank, Hasan is a leading executive in digital banking having driven breakthrough innovation and transformative disruptions. Hasan believes in the idea of customer-centricity. He asks how he can deliver the best customer experience in service or sales and how the customer wants to engage and interact with banking personnel. Today, at BRAC Bank, Hasan is growing both deposits and loans, working with the underprivileged and underbanked.
PLUS youâll discover:
>> How leveraging data leads to understanding customers and customer-centricity
>> What customers should expect from the banking industry in the next 3 to 5 years
>> What the North American banking industry can learn from developments in the emerging markets
>> Hasanâs insights on how to create the best possible customer experience
>> The importance of knowing your customer in the emerging markets
...and more.
Beyond the episode:
Find out more about Personeticsâ personalized, customer-engagement platform for financial services: https://personetics.com/
Connect with podcast host Jody Bhagat on LinkedIn: https://www.linkedin.com/in/digitalbusinessgrower
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In this episode of the "Banking on Innovation Podcast," host Jody Bhagat interviews Tom Brown, CEO of Second Curve Capital, an equity investment firm focused on financial services, and one of the most thoughtful industry experts in the area of bank strategy. A highly respected figure in the banking industry, Tom has extensive experience, unique access to bank CEOs and is a nine-time top-rated bank analyst who publishes the influential Tom Brown Weekly newsletter.
In his discussion with Jody, Tom shares insights into the Second Curve model and describes what sets it apart in the market. He discusses their focused approach that emphasizes the importance of truly understanding the banking business. Unlike most analysts, Tom visits various bank departments to gain insights into all banking operations, from frontline employees to back-office processes.
The conversation then turned to the current market environment and how Second Curve has adapted to it. Tom sees a positive trend in the fact that the bank stock group has been outperforming the S&P 500 and describes it as a bank stock bull market. He believes that pessimism surrounding the banking industry has led to undervaluation, presenting an opportunity for growth.
Comparing the current market environment to the previous period of rapid interest rate increases in 2008-2009, Tom sees significant differences, particularly in the area of improved risk management and resilience. In his view, these are the most underappreciated aspect of today's banking industry. Banks have become much better at managing risks and running stress tests to assess their portfolios' resilience.
On the customer side, Jody and Tom discussed the importance of building customer loyalty and a strong customer franchise. They agreed that personalization, in the form of differential pricing and individually tailored advice, are crucial for building trust and retaining deposits and valuable ways to increase loyalty. In both mobile and online banking applications, customers have been very receptive to proactive AI-based advice platforms like the ones offered by the largest banks.
Jody and Tom conclude the discussion by noting that even the most loyal customers will pull out if they feel their money is threatened. A deep understanding of customers' financial situations and building trust with current, personalized advice are essential for maintaining strong relationships in today's banking landscape.
Overall, this episode provides valuable insights into the banking industry, covering the significance of personalization, risk management, and the evolving relationship between banks and their customers. Tune in to gain a deeper understanding of current market trends impacting banks and the strategies that can lead to success in the ever-changing banking landscape.
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This episode of the Banking on Innovation podcast features Chris Creed, the Chief Investment Officer of the Department of Energy's Loan Program Office (LPO). The LPO, which was established in 2005, plays a crucial role in accelerating emerging climate sustainability technologies that are likely to be important for the country's future.
Chris explained that the little-known LPO offers senior debt to address financing challenges of sustainable energy projects through several loan programs. It aims to enable and accelerate commercialization of energy technologies and projects that are still too risky to qualify for commercial loans but once successful, are likely to measurably contribute to climate sustainability.
Chris discussed the program's early successes, citing a default rate for initial investments that was less than half of what they projected. Early LPO investments included financing for Tesla and utility-scale solar, which has now matured to being what he describes as a âbankable product.â He then highlighted some technologies that LPO is currently focusing on âbridging to bankabilityâ, including offshore wind power, onshoring battery technology and supply chains for electric vehicles, and power grid connectivity for homes and buildings.
The discussion touched on recent changes in credit spreads, which have made LPO programs more attractive â and necessary. Regarding actions that banks can take immediately and in the coming years to promote climate sustainability, Chris recommended continued investment in viable clean energy asset classes like utility-scale solar. He also suggested collaboration with LPO to de-risk projects through partnerships and co-investment opportunities that can catalyze deployment in emerging industries.
In the final segment, the conversation shifted to the role banks, together with LPO, can play in creating win-win situations for consumers, sustainability technology businesses, and the banks themselves. Chris talked about helping change consumer and small businesses' behaviors to align with their own principles and environmental imperatives. For instance, banks can offer customers insights into energy spend and information about alternatives that would be less costly and more sustainable. With LPO support, banks, could also offer preferential loans for heat pumps versus HVAC systems or even integrate lower long-term energy spend due to sustainable CAPEX investment into residential mortgage calculations.
Beyond the episode:
Find out more about Personeticsâ personalized, customer-engagement platform for financial services: https://personetics.com/
Connect with podcast host Jody Bhagat on LinkedIn: https://www.linkedin.com/in/digitalbusinessgrower
Visit our website â https://personetics.com
Follow us on LinkedIn â https://www.linkedin.com/company/personetics
Like us on Facebook â https://www.facebook.com/Personetics
Join the conversation on Twitter â https://twitter.com/personetics
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In this episode of the Banking on Innovation podcast, we welcome in Ken Meyer, Truist Bankâs Chief Information and Experience Officer for Consumer Products.
Those twin titles have meaning for Ken, who sees his job as bringing tech âforwardâ in the bank at Truist, to where it can markedly improve the customer experience.
âThat mix (of tech and customer experience) has always been something thatâs fascinated me,â Ken told us on the podcast. âItâs something that drove my focus: Making sure we can really translate what our technical capabilities are and pull them forward to actually impact our clients.â
As a key contributor to one of the biggest bank tech stories in recent years â the merger of BB&T and SunTrust to create Truist - Ken had plenty of interesting topics to cover including:
Truistâs approach to tech implementation during the merger, and why often their choice wasnât between the legacy tech of SunTrust or BB&T, but new, innovative solutions. What some of Truistâs most important learnings from the merger experience were. Truistâs use of innovation and personalization, as well as their T3 Initiative (Tech + Touch = Trust) to deliver on Truistâs new purpose and brand promise. The balance Truist tried to strike between efficiency and innovation during the merger. How Truist plans to use innovation of product and experience to win in the ongoing battle for deposits. How Truist is getting customers to take action on the insights the bank provides.⊠and more
Beyond the episode:
Find out more about Personeticsâ personalized, customer-engagement platform for financial services: https://personetics.com/
Connect with podcast host Jody Bhagat on LinkedIn: https://www.linkedin.com/in/digitalbusinessgrower
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This week on Banking on Innovation, we will view banking and customer innovation through a completely different lens. Our guest is the recently appointed CEO of Consumer Bankers Association (CBA), Lindsey Johnson.
CBA is the only banking association in the US focused exclusively on consumer retail issues. Its members include Americaâs largest bank holding companies as well as regional and community banks, giving it a unique perspective on, and influential role in, the issues confronting the industry. In the face of rapidly evolving technology and customer expectations, itâs critical that the industry and lawmakers collaborate to promote innovation that delivers value.
Lindsey would like to see policy makers and banks work more closely together to ensure that every American has access to the financial tools that they need and demand.
âWe have to turn a corner to a new chapter where policy-makers donât see banks as adversaries. The banking system is focused on how to anticipate the next generation of individualsâ financial needs. We need to partner with policy-makers to make sure we can offer these different products to consumers. But when we hear from policy-makers making misleading statements about the banking system, that becomes a challenge for consumers to really discern the truth from myth.â
PLUS youâll discover:
>> The measures Lindsey believes government must take to help consumers in a challenging economy
>> The biggest challenge for banks when leveraging data to improve customer experience
>> The regulatory challenges she anticipates around Open Banking
>> What she thinks the government must do to combat a âhuge rise in scamsâ
>> The best way for banks and policy-makers to work together
...and more.
Beyond the episode:
Find out more about Personeticsâ personalized, customer-engagement platform for financial services: https://personetics.com/
Connect with podcast host Jody Bhagat on LinkedIn: https://www.linkedin.com/in/digitalbusinessgrower
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This weekâs guest on Banking on Innovation is Todd Lane, President and CEO of California Coast Credit Union, a $3.6 billion credit union based in San Diego.
Todd was appointed Chief Financial Officer of Cal Coast in 2009 and has served as president and CEO since 2015.
Although Cal Coast is a relatively local credit union, serving nearly 200,000 members who live or work in San Diego or Riverside counties, Todd argues that it must be ambitious in its vision:
âThe credit union market in California is very unique, and that plays into the approach that we are taking in terms of technology, personalization and membership. We have to compete with the big guys. And the only way to do that is to own the member experience.â
He also spoke at length about the credit unionâs founding vision of working closely with educators to improve their financial wellness, and how technology and digitization is helping Cal Coast remain true to its customer-centric roots:
âCertain programs weâre trying [to implement] manually are not scalable, so weâre trying to accomplish them in automated fashion. The need is far greater than we can deliver without technology.â
PLUS youâll discover:
>> How Cal Coast is successfully bringing younger members on board
>> How Todd gained his boardâs ongoing support for his vision of owning the member experience
>> 3 surprising drivers behind Cal Coastâs growth in recent years
>> The inspiring story of how Cal Coast staff helped struggling members get through the 2008 recession
>> Why the most important demographic for Todd is âGen-Câ - and the surprising members of this group!
...and more.
Beyond the episode:
Find out more about Personeticsâ personalized, customer-engagement platform for financial services: https://personetics.com/
Connect with podcast host Jody Bhagat on LinkedIn: https://www.linkedin.com/in/digitalbusinessgrower
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This weekâs guest on Banking on Innovation is Harit Talwar, who in 2015 joined Goldman Sachs to establish Marcus and build a differentiated consumer business.
Marcus went on to become of the most impactful challenger banks in history, offering financial products known for their simplicity and transparency. To date it has around 16 million retail customers, more than $120 billion in consumer deposits and revenues in the $1.5-$2 billion range.
Although few people believed that true innovation could come from within a 150-year-old institution, one of Marcusâs advantages was precisely its heritage.
âRegulatory compliance, risk management and capital management is in our DNA. And while these things may not sound very sexy, theyâre absolutely critical to be a successful disruptor in a regulated industry,â says Harit.
Another advantage was its âcustomer-obsessiveâ approach, says Harit, who previously served as President of US Cards for Discover Financial Services and managing director of Morgan Stanleyâs Consumer Banking Group International.
By the time he left Marcus in 2021, they had interviewed 100,000 consumers directly and indirectly, to keep in touch with their wants and needs. The bank identified that customers âthink banks are in it for themselves.â
The white space, therefore, âwas to demonstrate that you are a brand and financial services organization which is on the side of the customer... And to demonstrate this in every transaction, you must be simple and you must be transparent.â
This became the foundation of Marcusâs disruptive approach, which includes eliminating confusing jargon, inflexible products and hidden fees.
PLUS youâll discover:
>> Why Harit looked for business models outside the banking industry
>> How he hired a team of exceptional âunicornsâ - and where he found them
>> Why he wasnât looking to deliver an innovative product (and where he tried to innovate instead)
>> Banksâ ethical obligations in the way they leverage customer data
>> The next frontier in applying AI to enhance the customer experience
>> Why Harit believes the banking industry is ripe for further disruption - and the institutions he perceives as vulnerable
...and more.
Beyond the episode:
Find out more about Personeticsâ personalized, customer-engagement platform for financial services: https://personetics.com/
Connect with podcast host Jody Bhagat on LinkedIn: https://www.linkedin.com/in/digitalbusinessgrower
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This weekâs guest on Banking on Innovation is Hans Morris, Managing Partner of NYCA Partners, a premier venture capital and advisory firm focused on the fintech sector.
Hans brings a unique perspective because of his rare blend of investment savvy, extensive operating experience, and deep fintech knowledge. His former roles include President of Visa and CFO, Markets and Banking at Citigroup.
Meanwhile, NYCA has an enviable roster of Limited Partners, highly accomplished former industry executives who operate as advisors to portfolio companies. Hans serves as a member of the board.
He argues that if banks want to lead in innovation and quickly improve customer experience, they must learn how to develop strong relationships with fintechs.
The best fintech companies will prefer to work with banks that have created a working environment that is conducive to cooperation.
To earn âthe reputation of being good to work with,â banks must demonstrate that they make good decisions quickly, will implement technology that works, are fair and straightforward to deal with, and wonât give their partners the run-around.
To make this happen, the bankâs CEO and senior management must take ownership of innovation in their organization rather than delegating it to a technology team.
âI donât see this as a technology problem - itâs a leadership issue,â says Hans.
PLUS youâll discover:
>> Why every bank needs a â3 meetings to POCâ rule
>> 4 ways for banks to attract top fintech companies
>> How fintechs are extending the customer franchise - and how they can help banks do the same
>> The biggest technological challenge facing banks and credit unions
>> 4 criteria for banks to measure the success of their interactions with customers
...and more.
Beyond the episode:
Find out more about Personeticsâ personalized, customer-engagement platform for financial services: https://personetics.com/
Connect with podcast host Jody Bhagat on LinkedIn: https://www.linkedin.com/in/digitalbusinessgrower
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Our guest on the sixth episode of Banking on Innovation is Erin Pryor, Executive Vice President, Chief Marketing Officer at First Horizon Bank. Already the fourth largest regional bank in the American Southeast, First Horizon is set to become the sixth-largest US bank by assets by mid-2023, when its $13.4 billion acquisition by TD Bank is expected to complete.
Erin previously served as Executive Director of Brand Management at USAA, a leading provider of financial services to the US military, and fulfilled leadership positions in United Capital Financial Advisers and Opus Bank.
Now she is leading is First Horizon through a marketing transformation, including updating the bankâs MarTech stack. The first CMO on our podcast, she argued that there is a growing convergence of traditional marketing campaigns and the delivery of personalized insights for bank customers:
âAt First Horizon, our purpose is to provide capital and counsel. The capital is not just the money - itâs also the human capital and the advice and counsel on what your goal is, whether thatâs growing your business or buying a home. But if youâre providing that advice and you know your client, then it makes sense to provide them with an applicable offer. And so the marketing message and the marketing offer needs to be aligned with the client journey, which is part of the personalization. So I think weâre there.â
Erin also spoke at length about how the bank uses its CRM, which she calls the âheartbeat at the centerâ of its efforts to deliver improved customer experiences and turn data into actionable advice.
âThat really is where the client experiences lives.â
PLUS youâll discover:
>> How Erinâs approach to leadership has changed over 20 years
>> The methods she uses to develop a full picture of customer needs
>> Why First Horizon took a risk by becoming the first in the US to use Salesforceâs Customer Data Platform
>> Why the bar for great customer service in banks is set outside the financial services industry
>> Erinâs biggest obstacle to delivering highly personalized customer experiences
>> Why over-communicating with clients is a huge misstep
>> Expanding the definition of where the client journey takes place
>> How being a competitive athlete prepared Erin for a career in banking
...and more.
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Our guest on Banking on Innovation this week is Ankit Bhatt, Executive Vice President, Consumer and Chief Digital Officer at US Bank.
Ankit built the US Bank mobile app from scratch in 2019, the same year he was named Digital Banker of the Year by American Banker. The app, which has delivered more than 2 billion personalized insights, has more than a million 5-star reviews in app stores. And in the third quarter of 2021, the industry benchmarking firm Keynova Group named it as the top mobile app.
The key to creating a best-in-class app? According to Ankit, the bank has followed a âDigital Plus Humanâ strategy, seeing the app as one strand in its mission to deliver unified advice to customers across digital and banker channels.
âWe have a very defined approach - a philosophy if you may - which is that, in order for us to become central to our customers' lives, we need a great digital experience. But we fully recognize that if we don't combine that great digital experience with a great human experience - connecting customers to the colleagues that serve [them] at the bank - we will fall short.â
Ankit revealed how the âDigital Plus Humanâ approach has not only helped customers but created a sense of purpose amongst team members. It unites them around a common vision and keeps them focused on customer needs:
âItâs not just about creating that digital feature... That technology person whoâs helping bring that to life, theyâre not just thinking about, âHow do I code this to bring this aliveâ. Theyâre thinking about the purpose behind it: How are we helping the customer? How is this going to improve their life?â
PLUS, on this episode youâll learn:
>> Ankitâs 4 principles for excellence in mobile strategy
>> Why giving customers personalized insights is no longer enough for banks to differentiate
>> The key to implementing your digital vision in an agile, nimble way
>> Two features which Ankit believes add the most value to his mobile customers
>> Why US Bankâs in-branch staff have bought into the digital agenda
>> The biggest roadblock to driving continuous innovation - and how US Bank overcomes it
>> Three ways US Bank spots changes to customer needs early
>> The emerging trend Ankit believes will shape mobile banking in the near future
...and more.
Beyond the episode:
Find out more about Personeticsâ personalized, customer-engagement platform for financial services: https://personetics.com/
Connect with podcast host Jody Bhagat on LinkedIn: https://www.linkedin.com/in/digitalbusinessgrower
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Jamie Warder, who is Head of Digital for KeyBank, is our guest this week on Banking on Innovation
KeyBank has around 1,000 branches in 15 states. Jamie is a savvy industry veteran who is skilfully navigating the complex terrain of how regional banks can capitalize on both opportunities and threats from the burgeoning fintech ecosystem.
KeyBank is taking bold and non-traditional steps to deliver on their digital ambitions â acquiring AQN, an analytics company, and Laurel Road, a student loan refinance operation which they are refashioning into a digital-led, full-service bank for the healthcare market.
Jamie brings a real appreciation for the financial services ecosystem and complex competitive landscape. He combined new ideas about the capabilities necessary to serve customers with pragmatism about the speed and types of innovation possible.
âAs much as we talk about the digital revolution, I think in many cases itâs a digital evolution,â he says. âWeâll be measuring the change over the course of many years or decades.â
Different parts of the market are also maturing at different paces. Therefore, how and where you innovate must be considered carefully.
âWeâve coined a term - âTargeted scaleâ - which means weâre not going to out-scale the trillionaire banks at KeyBank. But what we can do is pick our spots, like renewable energy, low-income housing and healthcare, where we can really focus our time, effort and resources and create targeted scale... If youâre trying to be strong everywhere youâre probably strong nowhere.â
The 3 Rules for Successful Innovation
Drawing on his experience in different organizations - including the United States military, where he was a captain - Jamie observes three key rules for successful innovation.
First, âyou have to think about innovation in horizons. Thinking about what you can innovate this year might be different than innovation youâre thinking about five years from now.â The former may be âslight tweaks... relentless incrementalismâ rather than true original thinking, while the latter may require thinking and design that never gets implemented. Second, organizations must avoid âinnovating for the sake of innovating.â Instead, start with a clearly articulated strategy outlining your target market and how you are trying to serve it, then use that as a frame for innovation. Third, do not confine your innovation to technology, but consider processes and people too.For example, says Jamie, heâs particularly proud that at KeyBank âWeâve been doing a lot of innovation on how to allow small start-up, nimble companies, typically that weâve acquired, to keep their culture, spirit and speed, but within a larger regulated organization.â
The implication is that organizations cannot wait until they have achieved parity to start considering where they can innovate. It must be part of your agenda from the start. But equally, organizations must be intentional about their focus and accept that they cannot be innovative in every part of their business.
...and more.
Beyond the episode:
Find out more about Personeticsâ personalized, customer-engagement platform for financial services: https://personetics.com/
Connect with podcast host Jody Bhagat on LinkedIn: https://www.linkedin.com/in/digitalbusinessgrower
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Brendan Coughlin, who is responsible for national and regional banking at Citizens, is our guest this week on Banking on Innovation
Brendan has an 18-year history at the bank, which has over 1,200 branches and $192 billion in assets. And he has driven outsized market share growth in every position he has held, whether in consumer deposits and lending, consumer banking product management or consumer finance.
During the podcast, Brendan explained how he has innovated at every stage of his career, both when he was starting new services within Citizens and when he managed mature ones. So while there is increased pressure on banks to differentiate because of greater customer choice, disruption does not have to come from obvious quarters like challenger banks. It can take place in regional banks too:
âThatâs what weâre trying to do at Citizens - be a fintech within the structure of a mature, well-run, well-capitalized bank. Itâs easier said than done, but this is that moment in the market where the banks are going to separate from each other and say, which ones can lean into that hybrid mindset and which ones retrench back to the traditional mindset. And I think that will be what separates the winners from the losers.â
Brendan urged banks to think in new ways about digital acceleration, arguing that âItâs not just about technology and displacement of bricks-and-mortar. Itâs about financial confidence and empowerment for customers.â Banks need to deliver the personalized insights across all channels, and consider now how to upskill and invest in their branch staff to enable them to deliver that value, as part of the digital acceleration process.
Plus youâll learn:
How Brendan re-invented himself at every stage of his career - and how this prepared him for his biggest role to date.Why high net worth individuals need basic financial insights - itâs not just for mass market customers.Why Brendan believes banks have an advantage over fintechs - and are well positioned to âwinâ.The real key to improving customersâ financial confidence - itâs not just about helping them with âbig ticketâ items.How banks can avoid being overwhelmed by the intensity and speed of change in the market....and more.
Beyond the episode:
Find out more about Personeticsâ personalized, customer-engagement platform for financial services: https://personetics.com/
Connect with podcast host Jody Bhagat on LinkedIn: https://www.linkedin.com/in/digitalbusinessgrower
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The second episode of our leadership podcast series, Banking on Innovation, features Liz Wolverton, Head of Consumer Banking and Brand Experience at Synovus, a 134-year-old regional bank with around $55 billion in assets, serving clients in the southeastern US.
Liz, who has been with Synovus since 2003, has been named one of American Bankerâs 25 Women to Watch every year since 2015. She also has an unusually wide-ranging remit, extending from oversight of her organizationâs marketing, digital, analytics and customer experience functions to responsibility for the branch network, consumer banking products and services, and mass affluent strategy and execution.
This translated into a provocative discussion around how regional banks can not only personalize customersâ experiences online, but also do more to bring digital insights to customers when they interact with their bankers in physical branches.
âOne of the questions that Iâve been asked is how do you really motivate branch teams to be digital champions, because in a sense it takes away from what they do. And I just think thatâs a crazy statement. We position team members within our physical locations to be advisors and to serve our customers... [The insights derived from digital and data] just mean that they can do something different within the four walls of the branch than work on a deposit. What if they had a conversation about that customerâs transactional insights? Thatâs a much better way for that customer to walk away with value.â
Ultimately, she would like to see all interactions become omnichannel, with digital and assisted (banker) channels blending completely.
âSo I can start an application online and finish it in the branch - thatâs sort of todayâs expectation. But [in future], when I get an insight online, Iâm going to expect that when I go into that branch, I donât have to show that to you so you know [about it]. High-tech and high-touch is so blended that my relationship feels wholesome.â[DB1]
At Personetics, we call this truly seamless experience âconnected channels,â and itâs part of our vision too.
âI see it as a dance, a beautiful dance of that choreography between the digital and the human coming together. Right now, I think most banks - and weâre one of them - are in the elementary class of that. But I see the future where that comes together really beautifully.â
Plus youâll learn:
>> What Liz has found engaging about banking over a 20-year career - a personal perspective from an industry leader
>> Why Synovusâ business model has been so enduring - the bank was founded in 1888
>> How customer expectations from their banks have evolved recently - setting a ânew barâ
>> The âobviousâ change regional banks need to make in order to compete - but many arenât
>> Where mid-market banks need to invest in order to exceed customer expectations - 3 areas
>> What the Apple watch can teach banks about personalized customer experiences - Liz frequently shares this analogy with her team
>> How the role of the banker is evolving in a data-rich environment - and why itâs empowering them
>> The next step in customer personalization that the industry will take - because omnichannel transactions are not enough
>> How the Metaverse will change customer expectations - amongst other ways customer expectations will evolve in the near future
...and...
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In our inaugural podcast episode, host Jody Bhagat talks to Dennis Devine, President, and CEO of Alliant Credit Union, about its member-first strategy.
Having previously held senior leadership roles at KeyBank, Citizens Financial Group and PNC Bank, Dennis reveals some of the ways in which his personal approach to customer-driven innovation has changed over the years, and how these past experiences have prepared him to head a credit union with $16 billion in assets, one of the 10 largest credit unions in the US.
In 2014, Alliant Credit Union, realized that 96% of the transactions occurring in its branches could be done digitally, sparking a decision to move towards a digital-first model. So how does a digital-first credit union with no physical branches creates an outstanding customer experience?
âThe benefit [of being digital-first] is the best cost structure in the industry, without the cost of a far-reaching and often underutilized branch network. Weâre able to take those cost savings and give them back to our customers.â
Dennis also discusses some of the key challenges that the industry will need to address in order to deliver more personalized member experiences in the future. For example, consumers typically have relationships with several financial institutions, leaving banks and credit unions with a fragmented picture of their true financial situation.
Plus youâll learn:
>> Two ways banks and credit unions can help customers in times of economic uncertainty
>> The silver lining to rising interest rates, for banks and customers
>> One easy way Alliant keeps member experience at the heart of organizational culture
>> The driving force behind Alliantâs decision to eliminate overdraft fees
>> The biggest challenge in delivering a personalized customer experience - and how Alliant overcomes it
>> How to make the most of your partnerships in order to improve your overall value proposition
>> Alliantâs âsuperpowerâ which allows it to grow in an increasingly competitive environment
...and more.
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Listen to the trailer of the Banking on Innovation podcast, coming out soon
