Banking Transformed with Jim Marous

At a time when the competitiveness in the banking industry is more intense than ever, and the need for digital transformation has never been greater, is the viability of smaller community organizations at risk? Is there a way for community banks and credit unions to stand out in a world of digital giants? To dive deeper into the viability of community banking organizations, we have Gabe Krajicek, CEO of Kasasa, on the show. He discusses the benefits of local banking as well as the the opportunities for community banks to serve consumers and communities.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

McKinsey found that 90% of executives “believe that the COVID-19 crisis will fundamentally change the way they do business over the next five years.” Unfortunately, only 21% “feel confident that they are prepared to capture new growth opportunities.” At a time when technology solutions are abundant, an innovation culture is required more than ever in banking. This is because status quo is not an option in a marketplace that is changing faster than ever before, with competitors of all sizes creating new solutions at scale.We are very fortunate to have Amy Radin, founder and principal of Pragmatic Innovation Partners and author of the award-winning book, ‘The Change Maker’s Playbook: How to Seek, Seed and Scale Innovation In Any Company’.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 pandemic disrupted the entire planet, changing consumer behavior, altering business and government assumptions, and dramatically impacting business plans. The future is still unclear, but the opportunities (and risks) are immense.What lies ahead will define winners and losers. From adoption of new technologies to a redefined future of work, and new innovation culture, digital banking transformation will require a paradigm shift in leadership thinking and a new level of agility.Our guest is Paolo Sironi, Global Research Leader for Banking and Finance at the IBM Institute for Business Value. We discuss how financial institutions will need to explore a new normal, which may require continual reinvention of business models and solutions.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 way people and businesses shop for and buy financial services has been altered dramatically since the pandemic. No longer needing to go to a physical location, consumers can do their research, purchasing and ongoing engagement on their phone.But just because banks and credit unions have enabled consumers to open and use accounts digitally doesn’t mean they will. Growth is not a given ... and satisfaction is far from guaranteed.We are very fortunate to have James Robert Lay, CEO of the Digital Growth Institute and author of the book, “Banking on Digital Growth” on the show. He discusses digital sales models and how organizations can multiply results by following a well-defined formula.This Episode of Banking Transformed is Sponsored by FIS GlobalIf you’re looking to transform, then look no further than FIS’s Modern Banking Platform. Cloud-enabled, containerized, open and secure – it’s built from the ground up to meet the unique challenges and opportunities of the digital age.More at: fisglobal.com/modernbankingThis 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

Modern technology is providing institutions with opportunities that expand well beyond traditional financial services. As part of digital banking transformation, financial institutions can process data and engage with consumers in ways never before possible. Tools such as open banking, cloud computing, AI and Platformification have become table stakes for remaining competitive.The question is, how do we prioritize the investment in available technologies? More importantly, how do we deploy these technologies to increase market share and improve customer experiences? Our guest is Andrew Beatty, Head of Global Next Generation Banking at FIS Global. He shares his insights and projections as to where the banking industry must focus efforts to succeed in the future.This Episode of Banking Transformed is Sponsored by FIS Global  If you’re looking to transform, then look no further than FIS’s Modern Banking Platform. Cloud-enabled, containerized, open and secure – it’s built from the ground up to meet the unique challenges and opportunities of the digital age.More at: fisglobal.com/modernbanking

The pandemic has caused many banks to rethink their branch network strategy. For banks to be positioned for a future that includes greater reliance on digital delivery, organizations must explore ways that technology can enable stronger human interactions as well.It is clear that the role of the branch has changed dramatically over the past decade, but the importance of human connection still remains. But what is the right balance of physical and digital delivery for the future? And what is needed to transition to new models?We are very fortunate to have Mindy Mercaldo, Head of US Branch Network at Citi, to discuss the future of bank branch delivery and how to support growth with new delivery models.This Episode of Banking Transformed is Sponsored by FIS Global If you’re looking to transform, then look no further than FIS’s Modern Banking Platform. Cloud-enabled, containerized, open and secure – it’s built from the ground up to meet the unique challenges and opportunities of the digital age.More at: fisglobal.com/modernbanking

What is the foundation used to drive growth in an financial institution? If it's not data - it should be. Banks and credit unions have a wealth of insights that live within their account holder data. But, managing all of this data, and the accelerated speed at which it flows into the ecosystem can cripple an institution.Now more than ever, organizations must focus on leveraging both internal and external data to drive strategic decisions that can drive acquisition, share of wallet, loyalty and growth.Our guests are Marco Bernasconi, President of North Brookfield Savings Bank and Marla Pieton, VP of Marketing for Segmint. We discuss with how using data, at a foundation level, can drive growth in banking.This Episode of Banking Transformed is Sponsored by Segmint: Segmint empowers financial institutions and financial technology providers to easily understand and leverage data, interact with customers, and measure results. Derived from billions of transactions, Segmint provides the fastest and most accurate customer insights through advanced data tagging, categorization, and contextualization. Our insights enable all functions of an organization to inform strategies including competitive analysis, risk, marketing, customer experience, and product innovation.Learn more at segmint.comThis 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

Before the rise of PayPal, Venmo, and dozens of other new payment solutions, banks didn't look at the payments function as an epicenter for innovation. Times have changed.Digitization of front, middle, and back office processes, plus an explosion of fintech experimentation around the world, have turned the payments function into a competitive weapon rather than a cost center. In parallel, the rise of contextual or embedded finance mean that payments innovation is changing the operating models for banks and the industries they serve.Our guest is Mike Cook, global payments leader at IBM. We discuss how the center of transformation in banking is focused on payments and how legacy financial institutions can keep pace with a new generation of providers.This episode of Banking Transformed is sponsored by IBM:IBM has created a payments fabric where ecosystem members can easily, quickly and economically collaborate and consume payments services from banks, other Financial institutions, or FinTechs.. The IBM Payments Center brings together all elements of IBM to offer clients payments modernization services in a Payments as a Service offering.For more information visit ibm.com

Despite increased investment in digital initiatives, financial institutions continue to be concerned that they are falling behind with digital transformation efforts that are needed to build real, long-term competitive advantages.Enabling digital engagement is not enough. Banks and credit unions must re-imagining banking from the inside out, changing both how banking is done, as well as what will create value in the digital era.Our guest is Daniel Latimore, chief research officer for Celent. He discusses the ways leading financial institutions are differentiating themselves with innovation, back-office reengineering, technology modernization and new leadership paradigms.This Episode of Banking Transformed is Sponsored by FIS Global  If you’re looking to transform, then look no further than FIS’s Modern Banking Platform. Cloud-enabled, containerized, open and secure – it’s built from the ground up to meet the unique challenges and opportunities of the digital age.More at: fisglobal.com/modernbankingThis 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

In 2009, Shamir Karkal and several colleagues created the first digital-only bank of its kind in the U.S. Struggling to describe the benefits of a bank without branches, getting funding was a difficult process. As it turned out, Simple not only grew, but was one of the first neobanks to be acquired by a legacy financial institution.When Shamir tried to generate interest for his new financial technology start-up, Sila, he generated $5 million in funding in only a few months … in a marketplace that readily embraces fintech start-ups today.On the show, Shamir Karkal, Founder & CEO of Sila, discusses how innovation in the banking industry has changed since the early days of Simple, and what the prospects are for innovation and digital banking transformation 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 FIS Global If you’re looking to transform, then look no further than FIS’s Modern Banking Platform. Cloud-enabled, containerized, open and secure – it’s built from the ground up to meet the unique challenges and opportunities of the digital age.More at: fisglobal.com/modernbanking