Banking Transformed with Jim Marous

Digital transformation in banking cannot occur without rewiring back-office processes, including streamlining operations and integrating data sets. But the most important transformation that must occur is with the culture and leadership at traditional financial institutions.   A digital culture is customer-centric, with latitude given for employees to make decisions on behalf of the customer. A di...

Organizations in all industries need a new operating model that puts the customer’s needs at the center of all digital transformation strategies. This can be achieved by redesigned customer journeys, new products and services, and the agile delivery of insights and contextual solutions across channels.   To better understand how legacy financial institutions can better position themselves against...

Digital transformation is a challenge for organizations due to legacy infrastructure, internal silos, lack of a clear vision and resistance to change. Design thinking can help firms overcome many of these challenges, accelerating the transformation timeline. Done well, design thinking is a consumer-centric collaborative effort that can drive change internally and externally.   In this episode, we...

The power of voice-based interactions has grown exponentially with the addition of always-on systems, combined with advanced analytics (AI), cloud-based computing and optimized multichannel delivery of insights. The voice-first paradigm will move beyond providing answers to questions – using data and insights to proactively provide insights and guidance that will simplify life for consumers.   In...

A Silicon Valley icon and philanthropist, Steve Wozniak helped shape the computing industry by co-founding Apple Computer with Steve Jobs in 1976. Since leaving Apple in 1985, Wozniak has been involved in various business and philanthropic ventures, focusing primarily on computer and technology education.   I had the unique opportunity to sit down with 'The Woz' as part of the Novathon innovation...

Digital disruption is impacting today's worker more than ever, with sociologists believing that today's worker will need to 'reinvent themselves' several times during a career in the future. While maintaining the status quo provides a temporary comfort zone, personal disruption can dramatically improve chances of finding financial, social, and emotional success. This personal transformation requir...

Digital transformation is not as much about technology as it is about the leadership and cultural changes that are required to respond to a new business paradigm. In his latest book, The Algorithmic Leader, Mike Walsh shares insights and actionable strategies for leaders to make better decisions at a time of disruption. Mike is brilliant at challenging leaders in all industries to think and act di...

Every financial institution is looking for the next ‘big idea’ or ‘next generation’ digital app that will differentiate an organization by making banking easier and deployment of products and services less costly. With most banks and credit unions unable to build this type of digital capability internally, it is vital to be able to reach out to the largest possible number of creative thinkers. In...

Many people talk about digital transformation in financial services, but few have actually built a digital banking organization from the bottom up. What are the strategies and components of success? What are the challenges and barriers that can derail a digital transformation journey? And, why are so few traditional financial institutions able to effectively compete with new fintech firms and larg...

Mobile initiatives are aligning with emerging technologies to become the centerpiece of most enterprise-wide digital transformation efforts at banks and credit unions. The proliferation of mobile devices has moved mobile apps beyond a transactional entry point, with an increased emphasis being placed on creating exceptional customer experiences that boost productivity, loyalty and contextual engag...

It is imperative to build and maintain a customer-centric business during periods of digital transformation. To accomplish this, firms must focus on the customer experience, leveraging corporate culture, strategy, technology, and data analytics. Which firms are the best at being able to accomplish this objective? Which firms are failing to live up to customer expectations … and why? In this episod...

Digital disruption is occurring globally, impacting not only the way products and services are consumed, but how they are marketed and delivered using modern technologies. The impact is felt in all industries, but especially in banking, where legacy systems and culture work counter to most transformation efforts. One of the biggest challenges is how these changes are impacting the future of work a...

The future of innovation is not defined by technology. Innovation is defined by doing something new and different that works. Organizations hoping to succeed in their digital transformation journey must avoid simply adding something new, and consider the elimination of old paradigms. In this episode, we interview Rohit Bhargava, Author and Professor of Global Marketing at Georgetown University abo...

Disney is a great example of an organization that has changed tremendously through the years, leveraging data and new technology without forgetting their legacy or relinquishing their brand. At a time when financial institutions are caught between legacy cultures and the demands of a digital consumer, Disney has found a way to integrate modern technology with a personalized human touch. They have...

The financial services industry has seen a great deal of disruption from digital-based alternatives. Many of these challengers use advanced technology and expanded data sets to offer apps that provide financial solutions at a lower cost, with less friction and greater personalization than traditional bank or credit union offerings. Toronto-based startup Flybits believes that the best way to compet...

In this exclusive interview, Jeffrey Hayzlett, the former CMO of Kodak, discusses the importance of strong leadership, the need for a well-defined culture, and the risk of being passive when your industry is facing massive disruption.   Hayzlett challenges bank and credit union executives to examine their values and behaviors while aligning values with an organization’s overall mission. He also st...

In a digital world, consumers can acquire enough information about a product or service on a smartphone or online to make a purchase decision without ever asking a question of a customer service representative or walking into a physical store (branch).  Whether a consumer wants to buy a protein bar or new automobile, they can now leverage digital channels at each step of the customer decision jour...

Gary Vaynerchuk (Gary Vee) is a serial innovator, social media icon, chairman of VaynerX, and the active CEO of VaynerMedia. He wants you to have a proactive approach to marketing and be willing to disrupt yourself to avoid obsolescence. In this interview, Gary discusses the use of social media, the need for supportive culture and leadership and the importance of a personal brand.   During this in...