Banking Transformed with Jim Marous

Fraud is no longer just a downstream cleanup issue. It’s a direct result of cyber incidents that outpace our organizational structures. Siloed teams still overlook weak signals, coordinated attacks manage to get through, and losses grow across different channels. That’s why banking leaders need a new strategy: one that treats fraud and cybersecurity as a unified defense, sharing intelligence, standard procedures, and real-time decision-making. In this episode of Banking Transformed, we’ll explain how cyber-enabled fraud actually occurs, why traditional structures don’t work, and what it takes to stay ahead. We’ll also explore the GenAI factor, looking at how attackers are scaling deception and how banks can respond with smarter profiling and faster, smoother decision-making. Joining me is Laura Quevedo, Executive Vice President, Fraud & Decisioning Solutions at Mastercard, a leader at the center of payment resiliency, financial crime prevention, and risk decisioning. She will share how integrated teams and shared intelligence are changing outcomes for institutions worldwide. For banking leaders tasked with protecting their institutions and customers in this new era of converged threats, this conversation offers a practical roadmap for building truly resilient defenses. Because the question is no longer whether your fraud and cyber teams should work together, but how quickly you can make it happen.

Today, I’m excited to welcome Colton Pond and Simon Taylor, the visionary co-founders of Fintech NerdCon to the Banking Transformed podcast. Fintech NerdCon is an event with no meetings, no sales booths … just top-tier networking with fintech operators and builders. It’s what happens when a fintech passion, Comic-Con energy, and genuine community building come together. In this conversation, we’ll explore why they believe the fintech conference circuit needs disruption, how they’re creating a different kind of community experience, and what banks, fintechs, and ecosystem builders should focus on to succeed in the industry’s next phase. In addition, they provide an inside look into what will make this event different from any the banking industry has ever experienced.

Today, we're exploring one of banking's most vital yet often overlooked functions: corporate banking account analysis. Though it might not seem glamorous, this is where billions of dollars in revenue are gained or lost, and where the gap between a loyal corporate client and a frustrated one is often decided. Joining us on the Banking Transformed podcast is Dan Gill, Industry Analyst at Zafin, an AI-powered banking platform that's revolutionizing how banks handle pricing, billing, and customer relationships. In a time when corporate clients demand transparency and banks face challenges with legacy systems and scattered data, the account analysis function has become a key strategic area. We'll explore how modern AI and unified data platforms are addressing long-standing issues, including revenue loss, manual fee calculations, and unclear reporting that frustrates CFOs. Whether you're in banking, fintech, or simply interested in how corporate finance operates behind the scenes, this conversation will reveal the significant transformation underway in this field. This episode of Banking Transformed is sponsored by Zafin Zafin's Loyalty Rewards capability helps banks deepen customer engagement by rewarding behaviors across the entire banking journey, not just their transactions and spends. It offers behavior-based incentives, flexible point strategies, and personalized rewards, moving beyond traditional spend-based models. With seamless integration and real-time analytics, banks can optimize loyalty programs to enhance customer lifetime value and drive sustainable growth. Visit https://zafin.com/insights/banking-blueprints/?videos

Financial institutions are overwhelmed with customer data but lack meaningful insights. Banks and credit unions find it difficult to accurately identify their customers across scattered digital channels, monitor customer behavior from the initial contact to conversion, and demonstrate which marketing efforts truly produce results … all while complying with strict data privacy laws. Today on the Banking Transformed podcast, we're tackling these issues with Harmon Lyons, Vice President of Strategy and Market Development at TransUnion. We'll discuss full-funnel marketing strategies for financial services that blend brand awareness with acquisition tactics, achieving up to 40% improvements in identity completion. This allows banks and credit unions to finally demonstrate ROI and link marketing efforts directly to conversions. If you're a financial services marketer facing customer data fragmentation, attribution challenges, or privacy compliance concerns, this episode offers actionable strategies for enhancing campaign performance in 2025. This episode of Banking Transformed is sponsored by TransUnion TransUnion brings clarity to marketing chaos by delivering a 360-degree view of your customer, helping you deepen your insights, accelerate your decision making, and better measure the impact of every marketing dollar. For more information: Bring Clarity to Chaos | TransUnion

Instant payments have officially entered the mainstream — but adoption is still uneven, and questions remain. How is FedNow performing more than a year after launch? What’s driving momentum, what’s holding institutions back, and what will it take for real-time payments to finally reach critical mass? In this episode of Banking Transformed, I’m joined by Bernadette Ksepka, Senior Vice President and Deputy Head of Product Development for the Federal Reserve’s FedNow Service. We’ll explore how instant payments are reshaping financial interactions, debunk some of the biggest myths surrounding FedNow, and examine how financial institutions — from community banks to major players — can leverage this infrastructure for competitive advantage. From new use cases and fraud prevention to the economics of real-time liquidity, this conversation offers a clear-eyed look at where the U.S. instant payments ecosystem stands today — and where it’s heading next. If your institution hasn’t yet activated “send,” this episode might just change your mind. This episode of Banking Transformed is sponsored by FedNow The FedNow Service is an instant payment infrastructure developed by the Federal Reserve that allows eligible financial institutions to provide 24x7x365 instant payment services to stay competitive and meet customer demand. The network currently has about 1,500 participating financial institutions headquartered in all 50 states. For more information visit https://explore.fednow.org/

Against the backdrop of the iconic Bonneville Salt Flats, where speed records are broken and boundaries are pushed, Colton Pond joined me to interview three visionary banking leaders who are breaking through the traditional limitations of legacy core banking systems. This unique setting perfectly mirrors the conversation's theme: the need for financial institutions to accelerate their modernization journey and adopt a modular approach to the future. In this compelling episode of Banking Transformed, Kelli Keough from SoFi, Chris Black from Thread Bank, and Raphael Reznek from Mascoma Bank share their real-world experiences transitioning from monolithic legacy systems to specialized, modular architectures. They reveal why treating deposits, lending, and wealth management as distinct domains isn't just a technical decision ... it's a competitive imperative that can make product launches 40% more efficient. Whether you're a banking executive navigating modernization challenges, a fintech professional exploring infrastructure options, or simply curious about the future of financial services, this conversation offers practical insights from leaders who've successfully transitioned from legacy to modern, API-first platforms.

What if your business banking clients could ask a question, in plain English, and get an instant, intelligent answer? No spreadsheets. No manual reports. Just the client, their data, and AI working together. It sounds like science fiction, but it's happening right now. Grasshopper Bank has become the first U.S. bank to enable customers to connect their business banking data directly to Anthropic's Claude AI assistant, and the implications are staggering. We're joined on the Banking Transformed podcast by two visionaries who made it happen: Chris Tremont, Chief Digital Officer, and Pete Chapman, CTO of Grasshopper Bank. They'll reveal how they built a secure bridge between banking and artificial intelligence, why they raced to be first, and what this means for every banking organization in America. This is the conversation where the future of banking gets written. The companies that understand this shift will thrive. Those who don't will be left behind.

Sandeep Lalwani, Head of UST FinX, and Barry O’Connell, Managing Director at Thought Machine, dive into the urgent need for banking modernization. They discuss why many banks hesitate to update outdated systems and highlight the importance of gradual, modular approaches rather than drastic overhauls. The conversation emphasizes the significance of real-time data and cloud-native technology for enhanced customer experiences. Additionally, they outline strategies for mid-sized banks to innovate while managing costs, urging a mindset shift to embrace continuous modernization.

In this insightful conversation, Ronit Ghose, Head of Future of Finance at Citi Institute and author of 'Future of Money', shares his expertise on the transformation of finance. He discusses how AI is revolutionizing financial management and the rise of digital assets like stablecoins. Ronit explains the impact of open banking across different regions and imagines the future of 'self-driving money.' He also critiques the AI hype cycle and reveals the significant yet underappreciated potential of B2B innovations in fintech.

In this intriguing discussion, Luke Allchin, Director of Research at RFI Global, shares insights from a study of 130 million U.S. households. He highlights the shift toward social media as a primary source for financial decisions and reveals how mobile banking is set to surpass traditional channels by 2026. Luke emphasizes the rising demand for personalized financial advice and warns of consumer distrust in AI tools. He advises banks to build transparency and trust around AI while adapting to the competitive landscape shaped by challenger banks. A must-listen for anyone interested in the future of finance!