Banking Transformed with Jim Marous

Buy now, pay later (BNPL) solutions have grown in prominence as new players and payments incumbents are battling for market share. This includes firms like Affirm, Afterpay, Klarna, QuadPay, Sezzle, and Splitit, as well as legacy payment firms like Mastercard, Visa, PayPal, and Amex.How will these providers will impact traditional POS card volume or damage the appeal of retailers’ private-label cards? And, who will win the battle for the younger consumer who is drawn to this payment option?We are joined by Adam Hughes, the CEO of Amount, a fintech provider that offers a robust point-of-sale financing product suite. Adam discusses the growth of the buy now, pay later marketplace, and how traditional financial institutions can remain competitive for this business.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 has served to accelerate the relevance and importance of open banking as consumers become more willing to try alternative banking providers to get their digital banking needs met. At the same time, there has been a rise in contactless payments, as consumers replace cash at the point of sale.These dual market forces have provided an opportunity for big tech players, such as Apple, Amazon and Google to increasingly expand their platforms into financial services.We are joined by Pinar Ozcan, Professor of Entrepreneurship and Innovation at the Saïd Business School at Oxford University. Pinar discusses how innovation in banking has been impacted by the pandemic, and the rise of big tech platforms.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

Over the past year, Marcus by Goldman Sachs has continued to expand offerings, including teaming up with Amazon and Walmart to offer loans to sellers on their marketplaces, buying the General Motors credit card business, launching Marcus Insights smart tools and trackers, and most recently, announcing the offering of a digital investing platform. All of this is before the long-anticipated addition of a digital checking account.. We are very fortunate to be joined by Sonali Divilek, head of product for consumer business at Goldman Sachs, which includes Marcus by Goldman Sachs. Sonali discusses the product development strategy of Marcus, and how a partnership mentality has helped Marcus become a force in the retail banking ecosystem.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

One of the biggest problems facing legacy banking organizations today is leveraging data and advanced analytics to drive digital transformation, creating hyper-personalized experiences, supporting an innovative culture, and solving consumer challenges with appropriate technology.One organization that has emerged as a data-centric leader is TD Bank. Headquartered in Toronto, Canada, TD Bank is a top 10 bank with 85,000 employees and more than 26 million customers. Branding itself as America’s Most Convenient Bank, TD has quickly responded to the needs of the digital consumer.We are very fortunate to have John Thomas, EVP and head of global innovation at TD Bank on the show. John discusses how a data-driven culture positions this legacy financial institution to be a major force in banking well into 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

According to the Digital Banking Report, the top priority of the majority of financial institutions is to advance digital transformation. But what is the best way to proceed? And, where should organizations start?People’s United Bank, a regional bank based in Connecticut started by forming a “business transformation office” to focus on digitization and technology development. The team is responsible for optimizing and automating back office processes as well as setting up partnerships with financial technology companies.To understand how a $60 billion dollar bank has advanced digital transformation, we are joined by Ravi Vakacherla, EVP and chief transformation officer at People’s United. Ravi shares his perspective on where organizations should start and the roadblocks to digital transformation.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

Late last year, it was announced that Google Pay will partner with legacy financial institutions in the development and distribution of checking accounts through a new service called Google Plex. In addition, Google announced a partnership with Deutsch Bank for cloud implementation and co-innovation of new products and services.For the banks, these partnership can be a way to quickly grow customer relationships and expand market coverage. These partnerships could also threaten banks that fail to execute real-time personalized digital strategies.Our guest for the show is Yolande Piazza, VP of financial services for Google Cloud. Yolande joined Google in mid-2020 after almost 15 years at Citi where she most recently managed fintech partnerships. In this episode, we discuss the financial service strategies at Google. We also discuss what the future of banking may look like and who the players may be.

As a result of the pandemic, people were forced to adopt digital alternatives to their traditional way of doing banking. This shift was not always smooth for the customer or the financial institution. Many consumers still wanted personalized interaction to learn about services.Financial institutions that want to improve engagement, interactions, and brand loyalty are responding with new forms of personalization, such as rich media like video.Our guest for the show is Jim Dicso, CEO of SundaySky. In this episode, Jim discusses how personalized video-powered experiences can drive breakthrough outcomes at key moments along the customer journey.This Episode 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

How can organizations compete for customers, time, attention and money in an increasingly digital world where time is limited, attention is scarce and the ability to genuinely engage with consumers has become more difficult than ever?One of the few brand differentiators available today is to build memorable and repeatable experiences. Unlike in the past, when many of these experiences could be built in a one-to-one tactile world, digital delivery changes the game.To better understand the challenges and opportunities of building a compelling customer experience, I am joined by fellow Clevelander Jim Gilmore. Jim is the coauthor, along with Joe Pine, of one of the best business books of the 20th century, "The Experience Economy". Jim shares examples of how executives from any industry can set themselves apart from the competition be creating personalized and transformative experiences.Episode Sponsor: AurigaAuriga is a leading supplier of software and technological solutions for the banking and payments industries, and a specialist provider of innovative omnichannel solutions to banks and other financial institutions.Auriga wants to help bank branches avoid closure by moving to a “Lean Bank Branch” model. The model reinvents branches as leaner operations, creating enhanced value for customers based on self-service for simple functions and video calling booths for one-to-one personalized advice - reducing their operating costs.As safety has been redefined by COVID worldwide, the lean bank branch requires no contact yet puts human connection and conversation back into banking.Find out more at www.aurigaspa.com/leanbankbranch/LinkedIn - https://www.linkedin.com/showcase/auriga-uk-the-banking-e-volution/Twitter - @aurigaSW

The pandemic changed the business landscape for all industries … possibly none more dramatically than financial services. Already being impacted by non-traditional players, financial institutions needed to shift in an instant to satisfy customers no longer able to conduct business in traditional ways.What will 2021 look like? What major shifts will occur that will last into the future? What could surprise us in an ecosystem where change is one of the only constants?To get a perspective on the future of banking and fintech, we are joined today by Ron Shevlin, the Managing Director of Fintech Research at Cornerstone Advisors. Ron is the author of the book Smarter Bank and is a senior contributor for Forbes. Ron is also ranked among the top banking influencers globally and is a frequent keynote speaker.This episode 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

Mobile banking usage is rising quicker than ever as a result of the pandemic. With close to 50% of consumers stating that mobile is a top-three factor that determines their choice of financial institutions (after fees), it is imperative that banks offer mobile features that consumers value most.However, it is not enough to just enable mobile banking capabilities. Banks must also remove friction and provide the user experience that consumers desire as well.The guest for the show is Mark Donohue, founder and CEO of Hong Kong-based iSky Research. In this episode, Mark discusses what makes a mobile banking leader, given the insight Mark has from monitoring hundreds of banks globally on functionality and user experience.