Banking Transformed with Jim Marous

In March of 2021, Square Financial Services officially launched its bank after receiving its Industrial Loan Company license from the FDIC a year prior. The Salt Lake City-based bank, is owned by Square, a fintech worth more than all but four US banks according to the KBW Bank Index.Square Financial Services will offer banking services like deposits and other products, initially to service a nationwide market of small businesses, many that already operate on the Square payment processing platform.I’m excited to have Square Financial Services CEO, Lewis Goodwin on the Banking Transformed podcast. He discusses the strategy behind building a bank to serve small businesses and the challenges facing fintech players in North America.This episode of Banking Transformed is sponsored by FIS.GoCart recognizes email addresses and lets consumers pay quickly anywhere – with no passwords and no long forms. Consumers can pay faster for anything – even things they wouldn’t expect like healthcare, processional services, and more. GoCart goes beyond online checkout and allows consumers to pay easily by email, text, or with QR codes.Find out how you can use GoCart to simplify payments and increase your sales at GoCartpay.com/podcast.FIS. Advancing the way the world pays banks and invests.

Every financial institution must evaluate how to adapt technology strategies to support business change, operational resiliency and digital response. More than ever, the ability to innovate at speed and scale has become a core competitive requirement.In this year’s Digital Banking Report, 'Innovation in Retail Banking 2021', sponsored by Infosys Finacle and Efma, it was found that innovation is beginning to take center stage at many financial institutions.Our guests on the Banking Transformed podcast are Sanat Rao, CEO of Infosys Finacle and Miguel Rio-Tinto, Group CIO and CDO at Emirates NBD. We will discuss the increase in innovation and digital transformation maturity at financial institutions and what still needs to be done.This episode of Banking Transformed is sponsored by FIS.GoCart recognizes email addresses and lets consumers pay quickly anywhere – with no passwords and no long forms. Consumers can pay faster for anything – even things they wouldn’t expect like healthcare, processional services, and more. GoCart goes beyond online checkout and allows consumers to pay easily by email, text, or with QR codes.Find out how you can use GoCart to simplify payments and increase your sales at GoCartpay.com/podcast.FIS. Advancing the way the world pays banks and invests.

Most core banking operations run on aging platforms that were deployed in the 1980s and 1990s. These platforms are either homegrown or heavily customized since their origination.The needs of the digital consumer and functionality required by banks going forward require solutions that enable and support the digital transformation journey of financial institutions that are endeavoring to become future-ready.Our guest on the Banking Transformed Podcast is Michael Haney, Head of Digital Core at Technisys. We will discuss the steps needed to modernize current core platforms and how firms are implementing these solutions.This episode of Banking Transformed is sponsored by TechnisysTechnisys is the next-gen digital banking platform that redefines the customer experience. Our unique end-to-end digital backbone enables financial institutions to create and deliver financial products, dynamically, at every customer touchpoint. Giving banks and fintechs the agility to tailor offerings that become integral to a customer’s lifestyle in new and profound ways, down to the segment of one.For more information visit technisys.com

Recent events have put a spotlight on the urgent need for financial institutions to advance financial inclusion initiatives. Beyond responding to recent regulatory developments to provide economic opportunities to underserved and unserved sectors, there also a strong business case for banks and credit unions to align purpose and profits.That said, is the banking industry doing more than simply talking about meeting the needs of the underserved market?We are joined on the Banking Transformed podcast by Courtney Davis, Banking Principal at Deloitte. We discuss the strategic business imperatives that serve the greater good through financial inclusion, and the progress being made by the banking industry.This episode of Banking Transformed is sponsored by FIS. GoCart recognizes email addresses and lets consumers pay quickly anywhere – with no passwords and no long forms. Consumers can pay faster for anything – even things they wouldn’t expect like healthcare, processional services, and more. GoCart goes beyond online checkout and allows consumers to pay easily by email, text, or with QR codes. Find out how you can use GoCart to simplify payments and increase your sales at GoCartpay.com/podcast.  FIS. Advancing the way the world pays banks and invests.

In lending, the best offer usually wins. While some consumers still make the decision based on rate, an increasing number base their borrowing decision on the speed and simplicity of the process.S&P Global Market Intelligence expects U.S. digital lender origination volumes to grow at a compound annual rate of 26% between 2021 and 2025. This is driven mostly by fintech lenders that make borrowing fast and easy.We are joined on the Banking Transformed podcast by Deepak Polamarasetty, Co-Founder and CEO of CreditSnap and Tom Allman, Chief Strategy Officer of NASA Federal Credit Union. We discuss how the advances in the latest technologies, coupled with strategic deployment of the latest techniques has disrupted the lending marketplace.This episode of Banking Transformed is sponsored by CreditsnapCreditSnap is on a mission to enable Credit Unions, Banks and Digital Lenders to accelerate their digital enablement. Our next generation Lending and Account Opening customer journeys enable 100% digitization while integrating into your current solutions. Features include 1) Lending with "No Credit Impact", 2) Instant Lending and Deposit Account Offers, 3) Instant Account Opening, and 4) Personalized Cross-Sell Offers.For more information visit creditsnap.com

The banking industry is in the midst of an exciting revolution in which power has shifted from the financial institution to the consumer. Consumers are impacting the entire customer journey, from the buying process, through customer engagement, and on to loyalty.At the core of this marketing revolution is the use of data, analytics and technology to drive results. One of the most important technologies needed to enable advanced marketing is the cloud.We are very fortunate to have Garry Capers, Division President of Cloud Solutions at Deluxe with us on the Banking Transformed podcast. He will discuss some of the major changes in bank marketing today and what must be done to prepare for marketing transformation.This episode of Banking Transformed is sponsored by FIS.GoCart recognizes email addresses and lets consumers pay quickly anywhere – with no passwords and no long forms. Consumers can pay faster for anything – even things they wouldn’t expect like healthcare, processional services, and more. GoCart goes beyond online checkout and allows consumers to pay easily by email, text, or with QR codes.Find out how you can use GoCart to simplify payments and increase your sales at GoCartpay.com/podcast. FIS. Advancing the way the world pays banks and invests.

With consumers spending an average of 7.5 hours a day on various media platforms, ‘convenience’ in banking must now expand beyond store-centric factors to delivering digital convenience, with speed, simplicity, and empathy.Increasingly. consumers and employees expect a greater value proposition from their financial institution that will instill loyalty and support a broader brand promise.We are very fortunate to have Tyrrell Schmidt, U.S. Chief Marketing Officer for TD Bank on the Banking Transformed podcast. She discusses how TD’s established brand promise and purpose has translated at a time of marketplace disruption.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 PayPal: This podcast episode is being presented in partnership with PayPal. PayPal provides access to more than 403 million active global accounts and multiple buy now, pay later offers in a single integration. PayPal Pay in 4 enables shoppers to make purchases in four interest-free payments.Customers get more buying power and flexibility, and you get help maximizing reach and revenue.Learn more about PayPal Pay Later here.

An important component of digital banking transformation is to be able to improve efficiency and productivity in your organization while also helping employees to serve customers better.With complex customer engagements, you need to ensure that the right people are engaged at the right part of the customer journey, using a scheduling tool that reflects the customer need, expertise required, timing and locational constraints, and the ability for both your team and the customer to drive the process.We are joined on the Banking Transformed podcast today by Tom Chang, Distinguished Solutions Engineer at Salesforce. He discusses how a scheduling tool can create stronger relationships with precise, personalized appointments.This episode of Banking Transformed is sponsored by Salesforce. Salesforce Scheduler is a tool built natively on the Salesforce Platform that helps create stronger relationships with precise, personalized appointments. Boost scheduling efficiency and bring together the right resources, whether people or assets, with the contextual information needed to get the job done. Streamline appointment scheduling for employees and customers, delivering consistency across all channels of engagement, ultimately improving customer experiences.  For more information visit salesforce.com

The premise of the book, The Rise of Technosocialism, is that mankind is coming to a fork in the road. Climate change, emerging artificial intelligence, social and economic upheaval, and the clash between patriotic nationalism and the inevitability of globalism are coalescing into a crucible.The reality is that technology will be at the center of all of these changes.Our guest today on the Banking Transformed podcast is Brett King, author of the book, The Rise of Technosocialism, founder of Moven, international speaker, and member of the Fintech Hall of Fame. We discuss what the future may look like, what is inevitable, and what can be altered if humans take the appropriate action.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 PayPal:This podcast episode is being presented in partnership with PayPal. PayPal provides access to more than 403 million active global accounts and multiple buy now, pay later offers in a single integration. PayPal Pay in 4 enables shoppers to make purchases in four interest-free payments.Customers get more buying power and flexibility, and you get help maximizing reach and revenue.Learn more about PayPal Pay Later here.

As a financial institution is preparing to engage in a data-driven strategy, where do they begin? First, it’s important to understand that data transformation is a marathon, not a sprint. Successful financial institutions must align themselves around five critical keys that will lead them through a holistic data-driven strategy roadmap. Our guests today on the Banking Transformed podcast are Jason White, Chief Information Officer at Berkshire Bank and Mark Leher, VP of Data and Analytics for Segmint We will discuss the development and execution of a truly transformational data-driven business strategy for financial institutions..