Banking Transformed with Jim Marous

More than ever, financial institutions are expected to know what account holders need even before they do. Using relationship history, transaction data, and even insights from outside the bank, customers want you to know them, understand them and reward them.Combining historical account ownership history with real-time transaction data can provide a great predictor of what account holders are going to do next. The key is to keep account holder data safe, while providing a value-add with each engagement.We have Deep Varma, Chief Technology Officer from Alkami on the Banking Transformed podcast. Deep shares how modern technology can enable a next-generation sales and service platform that increases revenue and lowers costs for financial institutions.This Episode of Banking Transformed is Sponsored by AlkamiAlkami 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 and digital loan origination, payment fraud prevention, and data analytics and engagement solutions. To learn more, visit www.alkami.com.

We are in uncharted territory with today’s economic uncertainty. Customers are concerned about the safety of their bank and credit union and don’t know where to turn.Open and honest communication is only the start as the bank crisis continues to unfold. Financial institutions must provide resources and answers in real-time that help customers and employees ease their stress and help your brand become a trustworthy advisor during a time of need.This can ensure customer loyalty — and potentially even attract new customers.My guest on the Banking Transformed podcast is Steven Ramirez, CEO of Beyond the Arc. He shares what financial institutions should say and share, and how they should communicate during these tumultuous times.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.

With the increasing popularity of digital marketing, many financial institutions have shifted their focus away from direct mail. But is that a mistake? Some believe a well-designed and targeted direct mail campaign be a secret weapon in your marketing arsenal.At a time when banks and credit unions are looking to break through the marketing message clutter, The Data & Marketing Association revealed direct mail may be the most effective marketing channel to drive engagement and ROI.We are fortunate to have Dave Fink, CEO & Co-founder at Postie on the Banking Transformed podcast. Dave shares how direct mail can turbocharge your marketing campaigns, how to leverage modern technology for traditional channels, and why multichannel campaigns perform the best.

71% of Gen Z and 72% of Millennials say there are financial topics they want trustworthy advice on but aren't sure how to get it. At the same time, the top barrier preventing Americans from seeking financial advice from a professional financial planner is the belief that they don't have enough money to hire one.The good news is that these generations are more open to meet with their financial planners via digital channels. Many Millennials prefer not to meet in person or over the phone. Rather, they prefer communicating through text messages, videos or audio messages. The challenge is that they also want a highly personalized financial plan based on their goals.My guest on the Banking Transformed podcast is Jessica Chen Riolfi, Co-Founder and CEO at Uprise. She shares how Uprise has leveraged data, AI algorithms, and human expertise to provide the potential for optimal financial outcomes.

Expectations about what makes a great customer experience (CX) are rising faster than most organizations can keep up with — and consumers aren't afraid to walk away when their needs aren't met.The good news is that most organizations understand the gap that exists between expectations and delivery and are investing more to increase engagement.We have David Porter, Managing Director of Financial Services at Genesys on the Banking Transformed podcast. David discusses how innovative organizations are redefining what's possible using digital technologies and artificial intelligence (AI).

With the possibility of a recession, financial institutions of all sizes may be considering a delay or cut in technology spending. As seen by recent challenges at Southwest Airlines, falling behind in technology capabilities can create enormous costs in the short-term and in the future.According to Forrester, firms pursuing technology-driven innovation grow three to four times faster than industry averages. Just as importantly, new technologies can reduce the cost of doing business, improve customer and employee experiences, and provide a long-term competitive advantage.I am excited to have Maureen Doyle-Spare, general manager at the digital transformation consulting firm UST on the Banking Transformed podcast. We will be discussing how the pursuit of technology investments regardless of the economy will ensure financial institutions will be future-ready.

Every financial institution is adapting and adjusting to compete in the realities of an ever-changing digital world. It is time to re-imagine how applications are delivered, how data is leveraged, and how to create immersive experiences to meet the needs of today’s customers.The right strategy is to shift to a hybrid environment that leverages the key resources already in place, but combining those resources with one or more solution providers, to create a robust network that is future-ready.We are very fortunate to have Roji Oommen, Managing Director, Financial Services at Lumen Technologies on the Banking Transformed podcast. He discusses how a platform mindset enables a best-execution strategy for delivering financial services now and into the future.This episode of Banking Transformed Solutions is sponsored by LumenLumen’s mission is to deliver amazing customer experiences with networking, cloud and security solutions that power next-gen business applications. We aim to democratize complex and cutting-edge technologies and deliver simple solutions, so our customers can focus on innovation, not their IT. Learn more about Lumen’s capabilities for financial services at www.lumen.com/financial-services.Lumen and Lumen Technologies are registered trademarks in the United States.

To retain market share amid stiff competition, the banking industry has to adapt to changing customer preferences and embrace digital transformation. This includes investing in new technologies, improving operational efficiency, and partnering with third party providers that can help innovation at speed and scale.To become future-ready, financial institutions need to support customer journeys from the inside-out, enabling the connection with external brands, and delivering contextual solutions in real-time supported by data and analytics.We have David Feuer, Chief Product Officer at Galileo on the Banking Transformed show. David shares why building an end-to-end digital platform solution is the key to digital banking transformation success.This episode of Banking Transformed is sponsored by GalileoGalileo is creating the only end-to-end vertically integrated banking technology stack, from user interface development capabilities to a customizable multi-product banking core and ledger with fully integrated processing and card issuing. The Cyberbank platform isa best-in-class financial technology platform that reinvents how people connect with their money through exceptional digital-first experiences.For more information visit www.galileo-ft.com

Banks and credit unions understand the need to innovate, but finding the perfect partners to collaborate with can be a challenge with a marketplace that has tens of thousands of potential third-party providers.So, how can a financial institution find the best provider that aligns with their unique needs, growth ambitions, and internal culture in an ever-changing digital landscape? More importantly, how can a financial institution understand how well third-party providers will implement solutions at speed and scale?We have Patrick Sells, co-founder of True Digital Group on the Banking Transformed podcast. Patrick discusses a new platform where financial institutions can easily understand all marketplace offerings and connect with peers and providers for a better innovation experience.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.

To ‘wow’ customers across their financial journey, you must know them, understand them and be able to proactively anticipate and deliver solutions. This requires taking an event-driven approach to offer contextual engagement and experiences.Today, banks and credit unions are ditching siloed, departmental frameworks and, instead, are connecting people + processes + technology across the organization with a collaborative approach that puts insights into action … for the customer’s benefit.I am excited to have Darryl Knopp, Senior Director of portfolio marketing at FICO on the Banking Transformed podcast. Darryl discusses the current state of personalization in banking and how organizations can use applied intelligence systems to improve experiences, engagement and loyalty.This episode of Banking Transformed Solutions is sponsored by FICOFICO powers decisions that help people and businesses around the world prosper. Founded in 1956, the global analytics software firm is a pioneer in the use of predictive analytics and data science to improve operational decisions.For more information visit fico.com