Banking Transformed with Jim Marous

Brandon Sailors, VP at CSG focused on billing, engagement and data-driven solutions. Richard Ullenius, CSG executive leading bank transformation and modernization. They discuss why outdated back offices drag growth. They cover realistic modernization steps, using AI as a decision partner, balancing risk and compliance, and turning data into actionable signals for smarter pricing and faster service.

From Walmart and Amazon to banks and credit unions, stablecoins are accelerating a banking reset that is already reshaping how payments move. In this episode of Banking Transformed, I’m joined by Dr. Lamont Black, Associate Professor of Finance at DePaul University. We will break down why stablecoins represent a fundamental shift in financial infrastructure, not another crypto cycle. We will also explore how emerging payment rails challenge traditional card networks, what this means for deposits, data, and interchange revenue, and how financial institutions of all sizes should prepare for what comes next. This conversation is essential listening for banking executives, payments leaders, and fintech professionals who want to understand the real impact of stablecoins, the strategic risks of waiting, and how the banking reset is already unfolding.

Most financial institutions say they are data-driven. Far fewer can prove it in customer acquisition and relationship growth success. At a time when marketing costs are rising, response rates are under pressure, and every institution has access to the same channels, data is often the difference between growth and wasted spend. Today’s conversation is about how data actually drives results, not dashboards, not buzzwords, but measurable connections with the right consumers at the right time. We are going to talk about how modeling, channel orchestration, and analytics are reshaping direct marketing for banks and credit unions, and why doing this well is becoming a competitive necessity. I am joined by Preston Carroll, Director of Data and Analytics, and Eddie Tu, Principal Statistical Analyst at Franklin Madison Direct. Together, they work at the intersection of data science, marketing strategy, and financial services growth. Today, we will unpack what actually works, where institutions get it wrong, and how leaders can move from data awareness to data advantage. This episode of Banking Transformed is sponsored by Franklin Madison Franklin Madison Direct is a premier direct marketing agency within the Franklin Madison Group. Specializing in performance-driven strategies, FM Direct empowers financial and insurance brands to connect with their ideal audiences and achieve outstanding growth. The agency supports clients in expanding their customer base profitably through diverse acquisition channels, including direct mail, paid search, paid social, and display advertising. https://franklinmadisondirect.com/

Shanthi Shanmugam, CEO and co-founder of KSAP, previously led product developments at Robinhood and Chime, focusing on first-party fraud. She sheds light on how this hidden issue, arising from customers disputing legitimate transactions, costs financial institutions a staggering $100 billion. Shanthi discusses the misconceptions banks have about disputes, the rise of fraud during economic hardship, and the need for accountability and innovative solutions like a first-party fraud score. Her insights on automating dispute processes and in-housing operations offer a transformative vision for the banking industry.

Phil Tomlinson is a Senior VP at TaskUs, specializing in tech-enabled services, while Pragya Agarwal oversees financial crimes risk operations. They discuss how banks are falling behind in digital experiences compared to tech-driven industries. Adopting empathy through predictive financial guidance is essential. AI's role in triaging cases is crucial, but human oversight remains necessary for complex issues. They highlight the importance of owning identity verification to foster trust in an increasingly app-driven financial landscape.

Banking leaders face an urgent threat as nearly half of their skills could soon be obsolete. Continuous learning is now the key to staying relevant, with technology accelerating the pace of change. Personal stories highlight transformative journeys, while generative AI emerges as a powerful tool for skill enhancement. Those who embrace AI will thrive, while laggards risk falling behind. A strong message emphasizes dedicating an hour each day to learning and adapting, ensuring leaders remain effective in an ever-evolving landscape.

Siya Vansia, Chief Brand and Innovation Officer at ConnectOne Bank, and Suzan Chaffin, EVP of Solutions at LoanPro, tackle the crucial gap between banks' promises and customer experiences. They highlight the importance of genuine innovation and the dangers of retrofitting new technology to outdated processes. The conversation dives into building internal advocates for transformation, the balance of digital and high-touch services, and the need for banks to define clear goals with technology partners to drive meaningful change in the financial landscape.

What if the biggest myth in banking is that customers don’t need branches anymore? Because every time Bank of America opens a new financial center, digital sales in that market jump by 50 percent. Physical presence isn’t competing with digital — it’s accelerating it. Now, Bank of America is putting $750 million behind a bet the rest of the industry walked away from too soon, opening 150 new financial centers across 60 markets by 2027 at more than $5 million per location. Bold? Yes. Contradictory? Maybe. But the timing suggests something deeper: after shrinking from 6,000 branches to about 3,700, they now believe the future isn’t fewer branches… it’s smarter ones. These next-generation centers aren’t transaction factories. They’re advisory hubs staffed by 12,000 relationship bankers, designed to anchor communities and handle the conversations digital can’t — at least not yet. My guest on the Banking Transformed podcast, Will Smayda, leads this transformation. He’ll explain why Bank of America is expanding while others retreat and what these new financial centers reveal about how clients actually want to bank. So, here’s the question we all need to wrestle with: Is this the future of the branch — or the most expensive contradiction in banking?

Sai Rangachari, Chief Product Officer at Temenos, sheds light on the critical need for core banking modernization in today’s digital age. He discusses how outdated systems stifle innovation and stresses that modernization is a strategic necessity, not just a tech upgrade. Sai explores Temenos' unique single-core strategy and highlights practical steps banks can take to modernize without disruption, including leveraging AI for efficiency and enabling hyper-personalization. He also shares insights on the resurgence of stablecoins and how AI can reshape banking practices.

Nearly half of U.S. households are living paycheck to paycheck, yet millions of financially capable people are denied access to affordable credit. That is not a consumer failure. It is a system failure. I recently spoke at the Hope Global Forums in Atlanta, where the focus is on economic opportunity. I challenged the banking industry to address a blind spot. We rely on outdated credit models that look backward, not at real cash flow, real behavior, or real potential. When credit is denied, education alone does not work, mobility stalls, and banks lose the growth they say they want. Serving the underserved is no longer optional. It is the strategy gap holding this industry back.