Banking Transformed with Jim Marous

JB Orecchia, president and CEO of SavvyMoney, joins me today on the Banking Transformed podcast. SavvyMoney is a leading provider of personalized credit education, scores, reports and monitoring solutions. JB has over 35 years of experience driving innovation in financial services with deep expertise in credit, data and technology. In this episode, we explore SavvyMoney's product roadmap, the conv...

According to our Banking Transformed podcast guest, Alexia Cambon, senior director of research at Microsoft, “There is no going back to the way we worked before. Flexibility is no longer seen as a perk by employees, but as a right.” Flexible working has produced a ‘crisis of trust’ and a ‘productivity paranoia’ in employers, but there needs to be a mindset shift and recognition that ‘performance d...

In this episode, the Banking Transformed podcast is at Sibos 2023 in Toronto, Ontario where we are joined by Judith Pinto and Prakash Pattni from IBM who are at the forefront of revolutionizing banking through hybrid cloud solutions. We explore how hybrid cloud can support complex banking workloads, foster innovation, and drive advanced technology strategies. We'll also delve into the crucial aspe...

With their unique preferences, behaviors, and technological fluency, Gen Z and younger consumers are reshaping the landscape of banking products, channels, and engagement strategies. With this in mind, how do banks connect with and build loyalty among the emerging Gen Z demographic. What technologies, products and messaging matters? Joining us on the Banking Transformed podcast is a true expert in...

The digital revolution is transforming banking as we know it. Consumers today want personalized, seamless financial services integrated into the platforms and apps they use daily. How can traditional banks adapt to this demand for "embedded finance"? On this episode, we explore the critical steps banks must take to embrace embedded banking and thrive in the platform economy. Our guest on the Banki...

In today's competitive landscape, financial institutions must adopt a customer-centric culture focused on loyalty and lifetime value to thrive. My guest on the Banking Transformed podcastis Wayne McCulloch, Chief Customer Officer at Alkami Technology. Wayne lays out a proven framework for organizations to become truly customer-obsessed. As the author of the best-selling book, “The Seven Pillars of...

I'm joined on the Banking Transformed podcast by Rakefet Russak-Aminoach, a trailblazer in digital banking innovation. Rakefet led the transformation of Bank Leumi into Israel's most profitable and forward-thinking bank before becoming a managing partner at Team8, a fintech foundry. We explore her transition from traditional bank to Team8 and delve into the unique foundry model that drives its mis...

Generative AI is poised to revolutionize the financial services industry. According to new research from IBM, the market for generative AI in finance is projected to reach $9.5 billion globally by 2032. This disruptive technology has the potential to transform customer experiences, empower employees, and rapidly modernize legacy systems. As we gear up for Sibos 2023, we’re joined by John Duigenan,...

On today’s Banking Transformed podcast, I'm thrilled to be joined by Brandon McGee, Chief Digital Strategy Officer at A+ Federal Credit Union, who is spearheading their ambitious efforts to reimagine members' digital experiences. Brandon has a 30-year legacy in banking and technology, having spent time at both large and small financial institutions as well as working at Dell and Facebook. With lea...

From the complexities of legacy infrastructure to the nuances of modern app development and the ever-evolving threat landscape, banking is faced with balancing performance, speed and security. Join us in this episode of the Banking Transformed podcast as we sit down with Michael Wiley, VP and CTO of F5, to explore the multifaceted world of banking cybersecurity within the context of digital transf...

Community banks, deeply rooted in their local domains, have played a pivotal role in supporting the financial needs of individuals, small businesses, and local economies. But the digitalization of the industry has altered the playing field. Looking forward, what are the unique advantages local financial institutions can bring to the table beyond ‘being friendly’? What are the challenges they face...

We’re at the midpoint of 2023, making this the perfect time to take stock of the major trends shaping retail banking globally and look ahead to the future. A multitude of events this year have altered the industry's trajectory, influenced consumer behavior, and prompted financial institutions to reassess their business models and go-to-market strategies. The question is which events will have a la...

As artificial intelligence (AI) continues to advance and reshape banking, achieving a high level of AI maturity becomes crucial for financial institutions to remain competitive and relevant in the modern landscape. But what determines an organization’s AI maturity. Evident has just published an extensive study on AI innovation and maturity across major banks. Their research analyzed 60 of the larg...

This is the second part of a two-part in-depth Banking Transformed podcast interview on generative AI and ChatGPT in banking with Brian Roemmele, President of Multiplex. With the rise of generative AI (ChatGPT) and its increasing impact on various sectors, including banking, it's crucial to examine how these advancements are transforming the landscape, both for better and for worse. From exploring...

With the rise of generative AI (ChatGPT) and its increasing impact on various sectors, including banking, it's crucial to examine how these advancements are transforming the landscape, both for better and for worse. From exploring the impact of generative AI on customer experience and engagement to discussing the ethical considerations and regulatory challenges, it is more important than ever to u...

Fintech firms are currently facing a series of challenges stemming from a variety of factors, including dropping venture capital (VC) funding, the failure of Silicon Valley Bank and the uncertain economic climate. Collaboration and partnerships within the fintech ecosystem and with traditional financial institutions may become even more crucial as fintech firms reassess business models and try to...

Advancements in digital banking technologies, like mobile apps, chatbots and digital wallets allow banks to provide always-on, personalized experiences across the entire customer journey. Done well, financial institutions can increase early engagement and activation speed, reduce contact outreach and increase revenues. Despite these advancements, challenges remain. Regulatory constraints, data pri...

2023 has presented many challenges for financial institutions. Record-breaking inflation, rapidly rising interest rates, reduced loan demand, and declining deposits have created a level of uncertainty not experienced for decades. These changes have disrupted status-quo assumptions while presenting amazing opportunities for financial institutions willing to reinvent legacy business models. I am exc...

From virtual and embedded experiences to digital payments and the power of AI, digital banking experiences can be enhanced at every touchpoint. With so much disruption – and opportunity – facing banks, credit unions and fintech firms, the industry must be more agile than ever to turn these changes to their advantage. But capitalizing on disruption and unleashing new growth potential requires more...

Creating a separate digital-only bank by a legacy financial institution is an opportunity to build a new, high-growth business that leverages the parent’s capabilities, brand and capital. The challenge is moving from a rapid initial growth phase to delivering sustainable returns, without being challenged by a legacy mindset or outdated back-office. Jenius Bank, the new digital-only banking divisio...

Many financial insrtitutions are stuck with digital transformations that are not moving the needle. In the new book, “Rewired: The McKinsey Guide to Outcompeting in the Age of Digital and AI” the authors found that long-term success comes when leaders embrace change around their talent, operating model, technology, and data capabilities. So, what can the banking industry learn from this detailed ‘...

Being a leader in today’s banking ecosystem can be challenging when everything around us is changing so fast. The ability to pivot, be flexible and continuously evolve is a key to success. These challenges are heightened when a leader is a female in an industry historically dominated by males. The balancing of work with the pressures of home and raising a family can change the path to success. But...

Companies with engaged employees experience lower turnover, higher productivity, improved communication and collaboration, enhanced customer service and increased sales. According to research, an increased focus on employee experience can increase revenue and profits by more than 50 percent. This is why 84% of executives rate employee experience (EX) as important to delivering a better customer ex...

The banking industry is undergoing a transformation as changing customer expectations and disruption from non-traditional financial players force traditional banks to rethink their value propositions. One growing business model is banking as a service (BaaS) — a partnership in which banks and credit unions leverage their charters to enable non-banking institutions to offer financial services direc...

Money 20/20 offers an amazing view into the future of banking and fintech with hundreds of participating organizations and thousands of attendees from across the globe. It was clear from the outset that embedded finance was a key theme this year. Embedded finance offers banks and nonfinancial organizations the ability to provide a frictionless experience built within a customer’s daily life. More...