ProSight Banking Strategies

Whether it’s dealing with an extreme disruption like COVID-19 or just to be more effective competing every day, banks benefit from new ideas to streamline current operations and to spot new business opportunities. An innovative mindset within an organization starts at the top and filters down so workers at all levels know their ideas for how to improve are welcome. Vanessa Colella, chief innovatio...

By moving fast to ease the economic hardship felt by businesses and families, financial institutions have built up trust and good will with their customers through their COVID-19 response by embracing the idea that “we’re all in this together.” But at the end of the day, banks are businesses that depend on revenue and profits to remain healthy. Debbie Bianucci, president and CEO at BAI, discusses...

The federal Paycheck Protection Program was built for speed -- get Congress to expedite the loan funding and then get it out ASAP to small businesses reeling from the coronavirus shutdowns. But in all of the well-meaning haste, banks have been challenged to make the nuts and bolts of the program work on a hurry-up schedule, and with so much competition for a limited pot of money. Brian Mauntel, pr...

Generation Z may have grown up as digital natives, but when it comes to banking, they’re not just about the technology. A recent BAI Banking Outlook survey shows that Gen Z also likes to get face-to-face financial service and advice, and for a generation that freely shares so much information about their daily lives, they want a surprising amount of privacy when it comes to their finances. ​Karl D...

We hear a lot about the need for digital transformation in the banking industry and, if nothing else, the COVID-19 experience is reaffirming for banks the importance of their digital identity and capabilities. But what does a true digital transformation look like for a financial institution, and what are the key ingredients needed to get it done? Chris Skinner -- influential commentator, blogger a...

The coronavirus pandemic has closed the doors of small businesses, driving up unemployment and stress levels across America. Part of the federal government’s plan to help small businesses stay afloat is the $350 billion PPP loan program, but there have been some snags in getting the money into the hands of those who need it. In this episode, Mark Messick, director of products at Jack Henry Lending...

Spare rooms, couches and dining room tables are now office space for millions of Americans working from home due to COVID-19. But a dispersed labor force still needs access to data and documents to get their work done, as well as powerful workflow tools to integrate individual efforts across the organization. Josh Spisak, senior product manager for the Nautilus ECM suite at Fiserv, says enterprise...

Whenever there’s a disaster, you can count on scammers and fraudsters to be quick to try to exploit our fears and sense of compassion. So it’s no surprise that the current COVID-19 crisis has already spawned a spike in online criminal activity, including sales of fake vaccine kits, bogus crowdfunding appeals and virus-tracking apps loaded with malware. Mary-Helen McElfresh, senior director of Zell...

Wild daily swings in the stock market are just one sign of the sudden toll that the novel coronavirus is taking on America’s economic health. Across the nation, there are plenty of other signs: closed businesses, canceled flights, slower manufacturing and more. Jeff Korzenik, chief investment strategist at Fifth Third Bank, shares his insights on how long and deep the economic downturn may be, and...

We’re in the thick of tax season now -- that time of year when financial advisors huddle with their clients to discuss planning and portfolios. But at some point in the near future, will those huddles broaden into the client's personal issues and family needs? And if they do, are the advisors equipped to hold up their end of the conversation? Cam Marston of Alabama-based Generational Insights will...

Data can yield great value for banks and even more for customers. But so much hinges on defining the pain points account holders struggle with and how banks can best aggregate and leverage the data they have. What's more, data behemoths such as Google, Amazon and Facebook may arrive at the financial services winner's circle before banks do. But there is good news in terms of banking data blossomin...

What challenges and opportunities lie ahead for financial services leaders in 2020? What will keep a customer from leaving one bank for another? And will customers trust their money with the Googles, PayPals and Apples of the world? BAI recently conducted its BAI Banking Outlook: Trends in 2020 research, and BAI’s Karl Dahlgren and Jason Mencias stopped by the podcast studio to walk us through the...

Whether it benefits customers and employees on the front end or core systems on the back end, digital transformation is a top shelf to-do for banks in 2019. But it's not as though the imperative comes with easy-to-follow instructions where "tech gadget a" plugs into "tough problem b." Here to share her smart strategies, we have Kristiane Koontz, executive vice president, director of banking transf...

Making consumer bank strategy stick ranks among the hottest topics in financial services today. But to get there, financial institutions must figure out how to balance a host of channels, from branches to call centers to mobile and its next wave. Ben Hopper of First Tennessee Bank shares his insights on achieving the optimal digital-physical combination to benefit customers and bolster banks in 20...

Considering that smartphone apps are just a dozen years old, the technology has exploded far beyond anything Steve Jobs might've imagined when he unveiled the first iPhone. Now in 2019, the reality of mobile-centric banking has arrived, with Varo Money already delighting customers to the tune of 13,000-plus five star reviews on the App Store and Google Play. Colin Walsh, Varo's CEO and co-founder,...

Not much thought is always given to exactly what puts the “community” in “community banking.” But the renaissance in arts, technology, culture and entrepreneurial spirit in Detroit goes hand in hand with financial services leadership. It also illustrates beautifully the role banks can play in shaping a modern urban comeback story. Chris McComish, chief banking officer, consumer and wealth manageme...

Digital transformation. The term and the concept predate smartphones and widespread internet usage. Yet if it’s time to bring the idea up to date in an age of AI and machine learning, what does this mean for the financial services industry? And what's the best way to approach strategy even as the pace of transformation has turned into the financial services equivalent of a rocket launch? Kim Capps...

Who is using direct banks and why? How do their customers define ‘convenience’? BAI’s Jason Mencias and Mark Riddle share insights from the latest BAI Banking Outlook report on this week’s podcast.

Who is using direct banks and why? How do their customers define convenience? BAI’s Jason Mencias and Mark Riddle share insights from the latest BAI Banking Outlook on this week’s podcast.

Small businesses are a big deal to the people who own, operate and create them. But that doesn't mean they've had the easiest time working with banks and credit unions, who aren’t always able to cater to these clients every need. That is changing, though, as banks and credit unions reconsider the possibilities that come from fruitful small business relationships. Chris Spiek, vice president of cus...

Over the last decade, financial services innovation has flourished not just in volume but also in variety. In areas such as societal impact, marketing and human capital, a few special institutions are changing how business gets done and progress made. Fresh off announcing this year's winners of the BAI Global Innovation Awards, BAI president and CEO Debbie Bianucci shares what makes this year's cr...

Digital transformation demands that the role of the CFO change to meet a very particular, poignant set of challenges. The question is: How? Enter the "superhero CFO," a gifted and proactive leader who can literally save the day Whether that means breaking data out of silos or finding hidden efficiencies, the tasks of today's data-rich environment demand focus, perseverance and forward-thinking mom...

Today's community banking environment demands an extra layer of hustle and decisive action to grow and compete. Fortunately, there's already a blueprint for success that leverages three factors: planning, marketing and talent management. To get the mix right, banks must forego the shortcuts and set their sights on creating lasting change. On this podcast, David Furnace, the CEO of Haberfeld Associ...

With roots in business academia, behavior finance provides answers to explain the perplexing things all of us do as consumers. Why do we follow others in our spending decisions? Why are we motivated more by what we might lose than what we can gain? To explain, this week's podcast features Meg Goodman, operational leader for Jacobs & Clevenger.

Fraud has moved far beyond the days of passing bad checks and rigging ledger books, both in its volume and sophistication. In the hands of determined hackers, high tech stoops to low levels that threaten everyone, financial institutions and customers alike. Yet banks can build robust defenses into the foundation of all they do and stay steps ahead of even the most determined thieves. Alisdair Faul...