Banking on Digital Growth

Financial institutions often struggle to manage and appropriately respond to online feedback, especially negative reviews, risking the loss of potential loyal customers. Statistics reveal that a single negative review can severely damage a brand’s reputation, requiring up to 40 positive experiences to counteract it.  In this episode of the Banking on Digital Growth podcast, Audrey Cannata and Jame...

Many financial brands may not realize that their websites could be their biggest sales blind spots due to lack of proper evaluation. Without secret shopping, banks and credit unions may not identify critical issues that could be causing them to lose out on potential loans and deposits. This episode of the Practical Perspectives series advocates for external, objective website secret shopping studi...

In a rapidly changing world driven by exponential technological advancements like AI, many leaders, teams, and organizations struggle to keep pace. This creates a widening gap between linear human perception and the exponential nature of change, leading to feelings of fear, stagnation, and a lack of growth. Many financial brand leaders, especially in the marketing sector, are losing their jobs or...

It’s not surprising that a significant portion of Americans are struggling with their finances, with many living paycheck to paycheck. Even those working within financial institutions are not immune to these issues. This episode of the Exponential Insights series offers a practical and straightforward solution to this widespread problem. Guest Gordon Stein introduces the concept of " Cashflow Cook...

As financial brand leaders navigate the complexities of a post-COVID world, the economic shifts, and the rise of artificial intelligence, feelings of exhaustion and burnout are rampant. Leaders and team members alike are struggling to stay engaged and find fulfillment in their roles. The pervasive cultural norm of complaining about work and separating personal and professional lives further aggrav...

Many financial brands are underinvesting in their digital sales channels, especially their websites, in 2024. Organizations often view their website as a one-time cost rather than an ongoing investment and fail to recognize its critical role in the customer buying journey. Failing to adapt to the digital shift can lead to being left behind by competitors who prioritize their digital presence. In t...

Many leaders struggle with the fear of change, failure, uncertainty and not being good enough. Left unchecked, fear can become debilitating and prevent you from taking the actions needed to move forward. You may find yourself procrastinating, doubting your abilities and resisting needed changes that feel uncomfortable.  In this episode of the Practical Perspectives series, James Robert Lay and Aud...

Many financial brands struggle to adapt to the rapidly changing landscape of digital banking, often feeling overwhelmed and uncertain about how to maintain growth and customer engagement in the face of continuous technological and market changes. Financial brand leaders frequently express feelings of exhaustion, confusion, and indecision when trying to navigate these changes. They're overwhelmed b...

Are you aware of the number of loans and deposits you're losing due to blind spots in your bank's or credit union's onboarding experience? According to the Digital Banking Report, 46% of newly opened accounts go inactive within the first year.  To put it differently, almost one out of every two accounts your financial brand opens has the potential to go inactive in the first 12 months. Think about...

What is the most important technology for financial brand leaders to master in the age of AI? While many immediately think of AI as the crucial technology, James Robert suggests that the most vital technology is actually the one between our ears – our minds. Jennifer Beeston , the number one VA mortgage lender in America and author of " Brain Hacked: How Big Tech Trains Your Brain to Spend, How Yo...

In the latest episode of the Practical Perspectives series, James Robert Lay and Audrey Cannata highlight the often unseen complexities of opening new deposit accounts at financial institutions. They reveal how a cumbersome user experience can overwhelm and even frustrate customers, leading to lost opportunities for banks and credit unions. Through recent secret shopping studies, common patterns e...

In this episode of "Banking on Digital Growth," hosts James Robert Lay and Audrey Cannata share insights from the book "The Mountain is You." They discuss self-limiting beliefs and self-sabotage, emphasizing how these can impede both personal and professional progress. Audrey shares her immediate connection with the book and discusses self-sabotage as a coping mechanism that prevents success. Both...

Despite the rise of digital-first and digital-only banking tools, there remains a strong desire for personal interaction in banking. Many people still prefer human interactions because they inherently trust people more than automated systems. In this episode, James Robert shares a live, real-time example of a failed attempt to connect quickly with a person at Frost Bank, showing that despite claim...

A significant issue facing financial brands is the overwhelming number of choices and decisions account holders and prospective account holders face daily. This cognitive load can lead to a poor shopping experience on financial websites, resulting in the loss of millions in loans and deposits. Jon MacDonald , founder and CEO The Good , and author of Behind the Click, suggests financial brands enga...

Many financial institutions experience limited conversions when running paid traffic to their campaign landing pages. They invest significant ad dollars but fail to capture and convert leads effectively, leading to wasted resources and missed opportunities for loans and deposits. To overcome these obstacles, financial institutions should enhance trust by providing clear information about their ide...

Over 80% of financial brands lack a clear digital growth strategy, leading to confusion and misalignment among marketing, sales, and leadership teams. This results in organizations getting stuck in cycles of chaos and conflict, unable to effectively address core fears related to change and growth. The absence of a well-defined digital strategy exacerbates common fears such as fear of the unknown,...

Many financial brand leaders often find themselves questioning their role and value within their organization amidst periods of significant change and transformation. This self-doubt is commonly driven by imposter syndrome and a fear that the value they create may not be recognized or needed by their team or organization. By fostering adaptability and resilience, leaders can transform their self-l...

In this episode of the Digital Growth Journeys series, Rob Hoyle , Chief Information Officer at Vantage West Credit Union , shares the story behind HUSTL , a new digital brand specifically designed for freelancers and small business owners. With features like custom project folders, seamless expense tracking, and dedicated customer support, HUSTL helps these entrepreneurs manage their finances mor...

Internal misalignment could be costing your bank or credit union millions of dollars. Many financial brands, while confident about their service and experience, may actually be failing to align their internal messaging and strategies. In this episode of the Practical Perspectives series, we’ll discuss a real-world example  of a financial institution struggling with inconsistencies in their product...

Despite having access to financial education, the mass majority of people still experience financial stress and anxiety, while struggling with the emotional and behavioral aspects of money management. This financial insecurity is exacerbated by comparison culture and the constant move of goalposts, leading to a sense of inadequacy and perpetual dissatisfaction. Even high-achieving individuals fall...

Financial brands often struggle with unseen gaps in their marketing and sales systems, leading to lost loans and deposits. Understanding the "what" and "why" behind consumer behavior is critical, but many financial institutions lack clarity and actionable insights. In this episode of the Exponential Insights series, Carlo Cardili , COO at Alpha Rank , and James Robert Lay discuss a strategic appro...

The commonly held belief that financial well-being is the starting point for achieving overall life satisfaction is misguided. Despite the increased focus on financial literacy and education, financial stress and anxiety are at an all-time high, with many people failing to achieve true financial stability. The path to true financial well-being begins with mastering one's physical and mental health...

This panel discussion at the CuneXus Symposium addresses key challenges faced by credit unions, such as achieving positive loan growth, fostering loyalty, differentiating lending products, enhancing member experiences, preventing fraud in digital account openings, managing liquidity, expanding digital presence, and adapting to post-COVID member expectations. Join us as we discuss: -Audience Engage...

Discover why EQ plus AQ surpasses IQ and how emotional intelligence can drive your financial brand's growth, just as it has for iconic brands like John Deere since the late 1800s. In this episode of the Practical Perspective series, we will revisit the basics of sowing seeds of trust and nurturing human relationships, essential for guiding both your organization and account holders through complex...

AI is creating a lot of buzz across industries, but where are we in the AI hype cycle? Uncertainty about AI’s place in the cycle confuses financial leaders about future growth. These negative emotions are enhanced by the godown curves of the hype cycles and the natural human resistance to change, resulting in burnout and stagnation. Leaders can effectively navigate transformation journeys by under...