Banking Transformed with Jim Marous

Carson Kotnyek, VP and Head of Loyalty and Ecosystems at Zafin, discusses the vital evolution of banking loyalty in the digital age. He emphasizes how customers now demand personalized experiences rather than just traditional rewards. Kotnyek highlights the challenges traditional banks face with outdated systems while showcasing the need for integration of technology and real-time engagement. He also touches on the importance of understanding customer lifestyles and using personalized strategies to transform banking customers into passionate advocates.

Despite massive investments in digital transformation, most banks and credit unions are still struggling to deliver seamless and intuitive account-opening experiences. In fact, financial institutions could more than double their digital account opening success by following just a few simple strategies. In today’s episode of Banking Transformed, I’m joined by Frida Leibowitz, Co-Founder and CEO of Debbie — a fintech platform that not only helps institutions attract younger members, but also rewards positive financial behavior to boost engagement and loyalty. We discuss Debbie’s rapid growth, the findings from their recently released 2025 Digital Account Opening Guide, and what is holding most financial institutions back from achieving digital onboarding success. If your organization is still relying on outdated forms, clunky ID verification, or legacy vendor excuses — this is the episode you can’t afford to miss.

How do you transform banks that have been built over centuries for a world where artificial intelligence operates 10 times faster than the digital revolution? We're not just talking about implementing new technology; we're reimagining banking for customers who interact daily with AI assistants and may soon entrust their money management entirely to intelligent systems. However, banks that rush into action without understanding their organizational and cultural legacies will find their investments yielding disappointing results. The issue isn't the technology; it's that we equate activity with progress, making top-down decisions that overlook what's happening on the ground. Our guest on the Banking Transformed podcast, Sophie Heller, is the newly appointed Chief Transformation Officer at BNP Paribas CPBS, bringing a unique perspective that combines strategic technology leadership with deep insights from behavioral sciences and organizational sociology. Today, we explore why the pause before progress might be more important than the speed of implementation, how behavioral sciences are becoming essential tools for transformation leaders, and what it takes to redesign banking for an AI-powered world. Welcome to Shaping Banking’s Next – podcast episodes hosted by Jim Marous and brought to you by Infosys Finacle and Qorus Global. These compelling episodes are inspired by the ‘Innovation in Retail Banking’ research, a report that has been tracking innovation trends, investment priorities, emerging business models, and real-world case studies for over 15 years. In these episodes, visionaries, changemakers, and digital pioneers from the world’s leading banks will share how they’re driving innovation, transforming the banking value chain, and reimagining the future of banking. Join them as they explore bold strategies, innovative business models and next-gen technologies shaping the industry today and defining what’s next.

Join Erin Allen, VP of Insurance Strategy and Distribution at Franklin Madison, and Norm Brown, Senior Director of Client and Customer Experience, as they dive into the evolving role of insurance in financial institutions. They explore how offering tailored insurance products can deepen customer loyalty, especially in uncertain times. The duo discusses simplifying insurance for younger demographics, leveraging data to enhance customer engagement, and turning financial anxiety into opportunities for deeper relationships. It's a must-listen for those looking to foster loyalty in their customer base!

The most critical challenge facing most retail financial institutions is how to accelerate organic growth and customer acquisition in an increasingly competitive and technology-driven landscape. I’m joined on the Banking Transformed podcast by Sumeet Grover, Executive Vice President and Chief Strategic Growth & Digital Officer at Austin-based University Federal Credit Union. Sumeet is a renowned thought leader in financial services, with nearly two decades of experience at Citibank, where he held leadership positions spanning marketing, digital transformation, client experience, and operations. Most recently, he served as EVP and Chief Digital & Marketing Officer at Alliant Credit Union, the largest digital credit union in the United States. In today's conversation, we explore the most significant obstacles hindering sustainable growth, identify the most promising opportunities on the horizon, and discuss how AI is fundamentally transforming the growth model for retail financial institutions.

Community financial institutions are at a crossroads—they must deliver cutting-edge card payment experiences that rival fintech disruptors and mega-banks, all while preserving their community-focused mission and working within tighter resource constraints. Guest: Joe Schmithorst, VP of Product and Client Solutions at Primax Joe brings decades of experience helping community banks transform their payment capabilities. In this episode, he reveals how smaller institutions can leverage modern architectures, embedded payment solutions, and customer-centric design not only to compete but also to outmaneuver larger competitors. Key Topics: - Building scalable card payment platforms on realistic budgets - Emerging technologies: real-time payments and digital wallet integration - Turning community banks' personalized service advantage into a competitive weapon - Practical implementation strategies that deliver results Discover how community banks can transform their biggest challenge into their greatest opportunity.

Every financial institution today is sitting on a goldmine of customer data, yet most struggle to turn those insights into a real competitive advantage. The challenge isn't collecting data—it's knowing what to do with it. Rachel O'Neill from Alkami joins me on the Banking Transformed podcast to tackle the hard questions: Why do so many banks fail to activate their data strategically? How can institutions break through the paralysis of analysis and start driving tangible business outcomes? And what separates the winners from the wishful thinkers in today's data-driven banking landscape? From streamlining back-office operations to enhancing customer financial wellness, it's clear that institutions embracing data-driven strategies are positioning themselves for sustained success in an increasingly competitive landscape. This Episode of Banking Transformed is Sponsored by Alkami Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly, and build thriving digital communities. Alkami helps clients transform through retail and business banking, digital account opening, payment security, and data analytics and marketing solutions. To learn more, visit www.alkami.com.

Lamont Young, EVP at Citizens Bank, dives into how banks can truly connect with Gen Z and Millennials. He emphasizes the importance of blending digital innovation with personal engagement. Young discusses the need for legacy institutions to redefine themselves and meet the fast-paced, tech-savvy demands of younger consumers. He highlights the significance of community engagement and how banks can utilize data to enhance customer experiences. Ultimately, it's about building trust through personalized, empathetic service during uncertain financial times.

Despite having established customer bases and trusted brands, many financial institutions struggle to keep pace with the rapid technological evolution driven by fintech firms and digital-first challengers. The potential of AI to transform banking operations, enhance customer experiences, and unlock new revenue streams is evident, yet implementation continues to be a significant hurdle. I'm joined on the Banking Transformed podcast by Marc Corbett, Director of Solutions Engineering Americas for Backbase, to discuss one of the most pressing challenges facing retail banks today: effectively deploying AI solutions to drive growth. We explore how retail banks can effectively overcome implementation challenges, harness AI technologies, and transition from reactive to proactive business models. Marc brings valuable insights on navigating this complex landscape to unlock what Backbase calls "Growth Mode" – a state where banks can fully leverage AI to drive sustainable competitive advantage in today's hyper-competitive marketplace. This episode is sponsored by Backbase Backbase helps financial institutions unlock growth mode by transforming fragmented experiences into seamless, customer-centric journeys. Whether it’s modernizing onboarding, streamlining lending, or scaling commercial offerings, Backbase powers the front-end innovation banks need to compete—and win. Learn more at backbase.com.

Todd Purcell, Head of Digital Strategy at TD Bank, shares insights into the bank's innovative approach to combining technology with human experiences. He discusses the challenges financial institutions face in a digital age and emphasizes the importance of personalization. Highlights include TD's successful initiatives like digital disputes and revamped mobile experiences, all designed to enhance customer satisfaction without losing the human touch. Todd also touches on leadership’s critical role in fostering a culture that prioritizes meaningful connections.