BAI Banking Strategies

Wild daily swings in the stock market are just one sign of the sudden toll that the novel coronavirus is taking on America’s economic health. Across the nation, there are plenty of other signs: closed businesses, canceled flights, slower manufacturing and more. Jeff Korzenik, chief investment strategist at Fifth Third Bank, shares his insights on how long and deep the economic downturn may be, and what's important for financial institutions to communicate to customers.

We’re in the thick of tax season now -- that time of year when financial advisors huddle with their clients to discuss planning and portfolios. But at some point in the near future, will those huddles broaden into the client's personal issues and family needs? And if they do, are the advisors equipped to hold up their end of the conversation? Cam Marston of Alabama-based Generational Insights will share some of his thoughts on how the role of the financial advisor may expand from wealth coach to all-around life coach as boomers and Gen Xers make room for millennials and Gen Z.

Data can yield great value for banks and even more for customers. But so much hinges on defining the pain points account holders struggle with and how banks can best aggregate and leverage the data they have. What's more, data behemoths such as Google, Amazon and Facebook may arrive at the financial services winner's circle before banks do. But there is good news in terms of banking data blossoming into insight, shared on this podcast by Todd Barnhart, executive vice president, head of retail distribution for PNC Financial Services Group.

What challenges and opportunities lie ahead for financial services leaders in 2020? What will keep a customer from leaving one bank for another? And will customers trust their money with the Googles, PayPals and Apples of the world? BAI recently conducted its BAI Banking Outlook: Trends in 2020 research, and BAI’s Karl Dahlgren and Jason Mencias stopped by the podcast studio to walk us through the findings.

Whether it benefits customers and employees on the front end or core systems on the back end, digital transformation is a top shelf to-do for banks in 2019. But it's not as though the imperative comes with easy-to-follow instructions where "tech gadget a" plugs into "tough problem b." Here to share her smart strategies, we have Kristiane Koontz, executive vice president, director of banking transformation at Zions Bancorporation.

Making consumer bank strategy stick ranks among the hottest topics in financial services today. But to get there, financial institutions must figure out how to balance a host of channels, from branches to call centers to mobile and its next wave. Ben Hopper of First Tennessee Bank shares his insights on achieving the optimal digital-physical combination to benefit customers and bolster banks in 2019.

Considering that smartphone apps are just a dozen years old, the technology has exploded far beyond anything Steve Jobs might've imagined when he unveiled the first iPhone. Now in 2019, the reality of mobile-centric banking has arrived, with Varo Money already delighting customers to the tune of 13,000-plus five star reviews on the App Store and Google Play. Colin Walsh, Varo's CEO and co-founder, describes the journey from blueprint to charter, and how Varo hopes to help millions of customers improve their financial lives.

Not much thought is always given to exactly what puts the “community” in “community banking.” But the renaissance in arts, technology, culture and entrepreneurial spirit in Detroit goes hand in hand with financial services leadership. It also illustrates beautifully the role banks can play in shaping a modern urban comeback story. Chris McComish, chief banking officer, consumer and wealth management at Chemical Bank, talks about how his institution has worked to foster relationship-driven growth and prosperity, and offers insight into an upcoming merger with another midwestern bank.

Digital transformation. The term and the concept predate smartphones and widespread internet usage. Yet if it’s time to bring the idea up to date in an age of AI and machine learning, what does this mean for the financial services industry? And what's the best way to approach strategy even as the pace of transformation has turned into the financial services equivalent of a rocket launch? Kim Capps, chief operating officer for Southern Bank, shares how financial institutions and community banks in particular can keep up the unprecedented changes.

Who is using direct banks and why? How do their customers define ‘convenience’? BAI’s Jason Mencias and Mark Riddle share insights from the latest BAI Banking Outlook report on this week’s podcast.