Banking on Digital Growth

Physical or digital? Human or bot? Technology or customer experience? These questions pose a dangerous false dichotomy for financial institutions. A sustainable competitive advantage over time emerges from people — human beings — who can pull together a technologically-driven solution drawn from disparate sources. In this episode of Banking on Digital Growth, I talk with Matt Monge , the brand and...

In this episode of Banking on Digital Growth, we go inside digital growth as I share my recent conversation with Joe Welu , CEO of Total Expert , during a Fireside Chat hosted by The Financial Brand. Joe asked me good questions about what digital growth really is, the need to define digital consumer journeys, and how to maximize growth and build trust through technology. Here's what we talked abou...

We want to whip out the digital growth checklist in 2021:   Online banking - check Mobile banking - check Tech tools - check   But nothing's happening. Why?   Because we still hold a legacy mindset.   In this episode of Banking on Digital Growth, Ron Shevlin , director of research at Cornerstone Advisors and senior contributor at Forbes , joins me to discuss how to prioritize the digital mindset....

We struggled to make progress in 2020 thanks to COVID. Where should we focus our digital growth efforts and energy in 2021? In this episode of Banking on Digital Growth, I answered this question from Mark, CEO for a community financial brand in the south. Here's what I had to say: Learn the three Rs for digital growth in 2021 Discover the three key elements to help you leap ahead and see the futur...

When’s the last time you went into a bank to pay bills?   Even if that’s your preferred method of payment, the pandemic has probably brought it to a screeching halt.   In this Exponential Insights episode of Banking On Digital Growth, James Robert Lay chats with Blip co-founders, Michael Bank and Seth Fenster , about improving payments UX. They also discuss…   How accelerated digital transformatio...

What are the top digital marketing and sales trends for banks and credit unions in 2021?   That question came to me from Marilyn, a VP of Marketing for a financial brand on the east coast.   I answered Marilyn's question and reflected on where we've been over the last 9-10 months on this episode of Banking on Digital Growth.   Here's what I talked about:   The top 12 digital marketing and sales tr...

We saw five years of progress during the last eight months of 2020 as an industry. We didn't mean to, but it happened anyway. What do you need to make that kind of progress in your own personal digital journey? On this episode of Banking on Digital Growth, I chatted with Kara Yaquinta , content strategist at Tropical Financial Credit Union . We discussed her remarkable digital journey and how she'...

What have been COVID's greatest effects on digital transformation? Brett King, guest editor for the FinTech Times, asked me that question on LinkedIn. I answer Brett's question and share why COVID isn't the end of the road for FinTechs on this episode of Banking on Digital Growth. Here's what I discuss: How COVID has exposed experience and communication capability gaps for incumbent financial bran...

We all like buying new things; it’s human nature.   We know we shouldn’t spend frivolously — but we do anyway.   Why can’t saving money be as fun as spending it?   That’s the question that led Ben Soppitt , Founder and CEO at Unifimoney , to create a financial product that motivates people to save.   What we talked about: How young affluent professionals are being gouged by traditional banks Why p...

Business leaders haven't figured out how to have productive, meaningful conversations with high-value individuals online. They still think LinkedIn is a pipe you can shove a marketing message down. In fact, it's another place to make friends. In this episode of Banking on Digital Growth, I talk with Jay Pater , Chief Engagement Officer at Jay Pater Social Advisory, about humanizing the digital exp...

On this episode of Banking on Digital Growth, we continue our Digital Growth Journey series, as we talk with Jonathan Clay , the Digital Marketing Associate at Louisiana Federal Credit Union . Jonathan and his team are relentlessly focused on two things: People and purpose. In this episode, we talk all about: Why every team member is required to have a “What’s my why?” story. How a brand-new proce...

As we navigate through the COVID-19 pandemic, more and more financial institutions are going to be working with slimmer budgets. We can no longer count on doing things like they’ve always been done, and adaptability is the name of the game. But what does that mean for smaller banking institutions, who may not have the marketing budgets of the big banks? How can you leverage your resources and comp...

Are you stuck in the cave of complacency? It may feel safe and secure. But it's a deadly place to hide especially given the exponential factors we're dealing with in this new, post-COVID world. No matter what happens in the world, you have to keep making progress along your digital growth journey. In this episode of Banking on Digital Growth, I talk with Mina Worthington , President/CEO at Solarit...

The pandemic has created an opportunity. Financial brands, which had been moving toward a digital-first approach at a snail's pace, have suddenly hit the fast-forward button. Now we have to work on making products and services easier with digitalization. What will leadership look like in this new digital and post-pandemic world? In this episode of Banking on Digital Growth, I talk with Rich Jones...

You've thought about your financial brand's purpose and your culture because as the ancient wisdom says, without purpose — without vision — you have no future. You need a future because we're not going back to the way things were pre-pandemic. But how can you create purpose and culture for the digital world we're entering? In this episode of Banking on Digital Growth, I talk with James Carbary , f...

During the pandemic, we should ask our customers three questions: How can we make sure you feel comfortable? How can we help your neighbor? How can we help your business partner? Our goal is to bring those resources to everybody through our online content. In this episode of Banking on Digital Growth, I talk with Lynne Jarman-Johnson , chief marketing officer at Consumers Credit Union , about how...

The first two questions we ask a prospective customer are: Do you feel like you can trust this institution? How does what you're looking at on the website make you feel? Financial brands that use stock photography almost inevitably raise a red flag. Yet about 9 in 10 financial brand websites show at least one stock photo. In this episode of Banking on Digital Growth, I talk with Andy Janning , pre...

Marketing sees the value of digital, but sales culture can be heavily entrenched around the branches. How can we begin to bridge the gap between marketing and sales teams? In this episode of Banking on Digital Growth, I answer this question from Tyler, a marketing director for a bank in the Midwest. I talk about: Why financial brand CEOs don't trust marketers and marketing teams How chief marketin...

Purpose can power your financial brand. But your purpose is fragile if it's not backed up by process and by proof. On this episode of Banking on Digital Growth, I continued our earlier conversation about the idea of banking on purpose. This time, we talked about the internal power of purpose. I discussed: Why purpose-driven thinking is key for internal stakeholders The four elements of a purpose s...

One thing I’ve learned over the years is that people want two things in their personal financial journey: They want help and hope. And more often than not, hope has to come before help. But if your digital marketing consists of only saying you can offer a loan at X%. What hope are you offering? That’s something my guest today, Mia Perez , Chief Administrative Officer at Louisiana Federal Credit Un...

One in three Americans loses sleep over financial problems, but they're too embarrassed to talk about it. Yet when financial brands want to know what their customers think, what do they do? Ask them to talk about it. This approach cannot work. In this episode of Banking on Digital Growth, I address three pitfalls of digital focus groups and then provide a clear path to getting insights that create...

Can I trust you? That's the question your customers and prospective customers are asking. And you can't answer their question with a broadcast marketing strategy focused on commoditized products. Instead, you have to use the fundamentals of neuroscience and gain access to your customer's reptilian brain. I share my thoughts on how to do that in this episode of Banking on Digital Growth. I talked a...

Twelve years ago, Yury Nabokov arrived in the U.S. from Russia. He wore a backpack and had less than $500 in his pocket. Today, he's building Fast Forward, a platform for an online growth summit. I wanted to know what he'd learned in the last dozen years. So I invited Yury Nabokov , assistant vice president of customer experience & digital marketing strategy at Machias Savings Bank in Portland...

How can content marketing help community banks and credit unions compete with the big banks? Lauren asked that question, and I answered it on this episode of the Banking on Digital podcast. There is no better way to get close with your prospective account holders in a digital world than through content, and there's no better way to retain account holders in a digital world than through content and...

Most financial brands know they need a vision statement.  But vision isn’t the same thing as purpose.  And if you don’t learn the difference, it’ll cost you.  In this episode, I explain: The difference between vision and purpose What to do to bridge the digital experience gap Why conscious capitalism is the path forward You can find this interview, and many more, by subscribing to Banking on Digit...