Banking Transformed with Jim Marous

Gone are the days of ultra-low interest rates when generating deposits and making loans was easy. Today, small and mid-sized financial institutions are battling for retail deposits after recent bank failures spurred a massive exodus of funds to larger players.In fact, a report by S&P Global Market Intelligence noted that several hundred banking institutions, including a handful of large ones, are paying over 4% and even as much as 5% on certificates of deposit amid a general increase in reliance on CDs and increasing thirst for deposits.My guest on the Banking Transformed podcast is Adam Stockton, Managing Director of Retail Deposits at Curinos. We discuss the importance of building stronger connections between consumers’ deposit and credit needs and rethinking the way organizations build relationships in the future.This episode of Banking Transformed is sponsored by Microsoft:See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working.More at Microsoft.com/financialservices

The 2023 Retail Banking Trends and Priorities found that 60% of financial institutions are meeting the digital banking needs of customers through collaboration with fintech firms and other third-party solution providers.How are these collaborations increasing the speed and scale of innovation, resetting business models and making traditional financial services organizations more future-ready?I am excited to have Claire Calmejane, Chief Innovation Officer at Societe Generale and Thad Vorozilchak, Vice President, Banking and Financial Markets from IBM on the Banking Transformed podcast. We discuss how financial institutions are disrupting legacy banking with new ideas and technological advances.This episode of Banking Transformed Solutions is sponsored by IBMIBM delivers technology and industry expertise to the global financial services industry through its infrastructure offering, software portfolio and consulting services. As a trusted partner to banks, insurers, asset managers and other financial institutions around the world, IBM enables modernization and digital transformation of the world’s mission-critical businesses. IBM is a leading provider of enterprise AI and hybrid cloud architecture to banks and insurers and leads a robust ecosystem of fintech partners serving financial institutions. For more information, visit https://www.ibm.com/industries/financial-services

Fueled by the growth of plug-and-play banking infrastructure, startup niche banks have emerged that cater to a varied assortment of segments, including specific nationalities and genders, income and age stratifications, occupations and hobbies and even personal values.The majority of these start-ups have a licensed sponsor bank as well as a digital banking offering specific products that consumers (or businesses) can't get elsewhere. The challenge is how to differentiate, achieve scale, fund marketing and acquisition and build loyalty beyond the debit card.My guest on the Banking Transformed podcast is Alex Johnson, founder of Fintech Takes. We discuss the future of niche financial institutions where funding has become more difficult and scalability continues to be elusive.This episode of Banking Transformed is sponsored by Microsoft:See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working.More at Microsoft.com/financialservices

The global wearable device market is expected to reach $62.82 billion by 2025. Wearable technology holds potential to revolutionize the way people interact with their financial institution, healthcare provider, and corner retailer leveraging wearable devices from smart watches, to fitness trackers, to apparel.More than ever, wearable devices can create seamless payment experiences while also providing unequaled authentication around digital identity and unique branding opportunities.My guest on the Banking Transformed podcast is David Birch, international speaker, author and advisor to the financial services industry. We discuss how wearable technology can be a major differentiator for both payments and digital authentication in the future.This episode of Banking Transformed is sponsored by Microsoft:See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working.More at Microsoft.com/financialservicesThis episode of Banking Transformed is sponsored by FISHow do you find your feet on ground that’s constantly shifting?You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad.Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-reportFIS. Advancing the way the world pays banks and invests.

Our expectations of what a bank is, and customers will engage with financial services has changed immensely over the past several years. And that change will only happen faster in the future. It’s indisputable that technology has been the driving force behind this change.As the industry gets ready for Money 2020 in Amsterdam, it good to assess how technologies such as artificial intelligence, machine learning, the blockchain, cloud computing, IoT, robotics and biometrics are reshaping banking, enhancing customer experiences, and paving the way for new banking business models.I am excited to have John Duigenan, General Manager, Financial Services and IBM Distinguished Engineer, IBM Technology on the Banking Transformed podcast. We will be discussing how technologies like AI will impact the future of banking, and how banks must become future ready.This episode of Banking Transformed Solutions is sponsored by IBMIBM delivers technology and industry expertise to the global financial services industry through its infrastructure offering, software portfolio and consulting services. As a trusted partner to banks, insurers, asset managers and other financial institutions around the world, IBM enables modernization and digital transformation of the world’s mission-critical businesses. IBM is a leading provider of enterprise AI and hybrid cloud architecture to banks and insurers and leads a robust ecosystem of fintech partners serving financial institutions. For more information, visit https://www.ibm.com/industries/financial-services

Technological advances, regulatory changes, and rising consumer expectations have led to a tidal wave of challenges for the financial marketer. While most marketers focus on the technology to drive results, research shows that a change in legacy mindset is far more important.The foundation to drive growth in today’s competitive and cultural landscape is a playbook that will help you:• Build a brand that drives loyalty and advocacy,• Stand out with breakthrough content and campaigns,• Develop a better understanding of what works and what doesn’t,• Drive more efficiency from your paid media budget,• Foster an entrepreneurial culture in your team to move faster and stay on top of change.We are very fortunate to be rejoined on the Banking Transformed podcast by Eric Fulwiler, co-founder and CEO of the marketing consultancy, Rival on the Banking Transformed podcast. We discuss what drives the growth of successful fintech and banking brands and where a financial marketer should start.Download the Fintech Playbook here.This episode of Banking Transformed is sponsored by Microsoft:See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working.More at Microsoft.com/financialservicesThis episode of Banking Transformed is sponsored by FISHow do you find your feet on ground that’s constantly shifting?You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad.Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-reportFIS. Advancing the way the world pays banks and invests.

The future of banking is being driven by advancements in technology, changing customer preferences, new collaborations, and increasing regulatory requirements. Change is happening every day … and it is more difficult than ever to keep pace.As the industry gets ready for Money 2020 in Amsterdam, it is important to look at where the industry is today and where it will likely be in the near and more distant future.I am excited to have Shanker Ramamurthy, Global Managing Partner Banking & Financial Markets, IBM Consulting on the Banking Transformed podcast. We discuss the massive changes occurring in financial services and what can be expected in the future.This episode of Banking Transformed Solutions is sponsored by IBMIBM delivers technology and industry expertise to the global financial services industry through its infrastructure offering, software portfolio and consulting services. As a trusted partner to banks, insurers, asset managers and other financial institutions around the world, IBM enables modernization and digital transformation of the world’s mission-critical businesses. IBM is a leading provider of enterprise AI and hybrid cloud architecture to banks and insurers and leads a robust ecosystem of fintech partners serving financial institutions. For more information, visit https://www.ibm.com/industries/financial-services

Customers want their financial institutions to know them, understand them and reward them based on their unique financial situation. Displaying this level of empathy is difficult if transactional data remains in silos.The aggregation of data to generate insights is only half the battle for financial institutions, though. Banks and credit unions must go beyond using data to create great reports to supporting exceptional customer experiences and engagement – the final mile in the customer journey.I am excited to have Ed Maslaveckas, CEO of Bud Financial on the Banking Transformed podcast. We discuss the firm's expansion into the US and how financial institutions of all sizes are leveraging data, insights, personalization, open banking and BaaS as strategic differentiators.This episode of Banking Transformed is sponsored by Microsoft:See how Microsoft can help to unlock new opportunities at speed through innovative business models, deliver differentiated customer experiences across channels, products and services, and redefine new ways of working.More at Microsoft.com/financialservicesThis episode of Banking Transformed is sponsored by FISHow do you find your feet on ground that’s constantly shifting?You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad.Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-reportFIS. Advancing the way the world pays banks and invests.

As part of the digital transformation process occurring at financial institutions, CFOs must increasingly leverage technology and data analytics to become strategic partners to leaders across the organization, driving organizational success.Beyond optimizing financial performance and streamlining operations, finance operations can now play an instrumental role in the innovation process, sustainability reporting and identifying new growth opportunities.I am excited to have Monica Proothi, Partner and Global Finance Transformation Lead for IBM Consulting on the Banking Transformed podcast. We discuss how the finance function has evolved from reactionary, transactional work to value-generating roles and strategic engagement.This episode of Banking Transformed Solutions is sponsored by IBMIBM delivers technology and industry expertise to the global financial services industry through its infrastructure offering, software portfolio and consulting services. As a trusted partner to banks, insurers, asset managers and other financial institutions around the world, IBM enables modernization and digital transformation of the world’s mission-critical businesses. IBM is a leading provider of enterprise AI and hybrid cloud architecture to banks and insurers and leads a robust ecosystem of fintech partners serving financial institutions. For more information, visit https://www.ibm.com/industries/financial-services

A digital-first account opening and onboarding platform is becoming increasingly important in banking, as customers increasingly expect a seamless, digital experience when opening and managing bank accounts.A fully integrated digital platform streamlines processes, reducing the risk of errors, improving compliance, and increasing the ability to offer personalized products and services. For customers, a digital-first approach provides convenience, speed, and the ability to open and manage accounts from anywhere, at any time.We are very fortunate to have Cindy Blackstone, Chief Retail Officer for Southside Bank on the Banking Transformed podcast. She will discuss how a digital-first platform has resulted in a superior customer experience, reduced costs, and driven growth in a highly competitive marketplace.This episode of Banking Transformed Solutions is sponsored by NCR TerafinaNCR Terafina provides digital onboarding and omnichannel sales solutions that are simple and secure to banks and credit unions. Terafina’s omnichannel sales platform is a multichannel product suite with the broadest spectrum of products, including consumer deposits and lending, real estate, small business deposits and lending, commercial deposits, and cryptocurrency account opening—across digital, branch, and call center channels.https://terafina.com/