Banking Reinvented

Episode 9 of the ‘Banking Reinvented’ podcast covers how your bank can improve customer acquisition, activation, engagement, and retention to build stronger, more profitable relationships. Together, Tim Rutten and Karan Oberoi discuss strategies for driving top-line growth, plus best practices to help you get there. They also explain how you can initiate the organizational change that will contribute to this growth. Tune in to learn how your bank can boost efficiency and customer satisfaction with modernized internal processes and technology. Curious to find out more about customer-centric banking? Follow us on LinkedIn: -> Backbase -> Jouk Pleiter  -> Tim Rutten  -> Karan Oberoi Step into the future of finance -> Check out our content hub (00:00) - Welcome to the ‘Banking Reinvented’ podcast (00:34) - Revolut acquiring a UK banking license (03:04) - Exploring top line vs. bottom line strategies for growth (06:37) - Importance of modernizing from inside out (11:08) - Role of ambitious leadership and clear goals (16:47) - Improving the onboarding and activation experience (21:09) - Increasing customer engagement  (24:54) - Using AI and data for customer retention  (27:40) - Key takeaways

Episode 8 of ‘Banking Reinvented’ shares insights into the transformative potential of artificial intelligence (AI) in the banking industry. In this episode, Tim Rutten is joined by Chris Shayan, the new head of AI at Backbase. Together, they discuss the accessibility and practical application of AI in banking, providing real-life examples for retail banking, business banking, and beyond. Tune in to learn more about the shift from expensive, limited AI use cases to more widespread, cost-effective applications in the banking sector. Curious to find out more about customer-centric banking? Follow us on LinkedIn: -> Backbase -> Jouk Pleiter  -> Tim Rutten  -> Chris Shayan Step into the future of finance -> Check out our content hub (00:00) - Welcome to the ‘Banking Reinvented’ podcast (00:44) - Meet the new Head of AI at Backbase (05:17) - JP Morgan’s AI implementation (09:25) - AI in the banking industry (12:55) - Real-life examples of AI in banking (18:11) - Cost and accessibility of AI (21:12) - Future of AI in banking (23:00) - AI’s role in different banking sectors (35:55) - Key takeaways (38:12) - Episode wrap-up

Episode 7 of ‘Banking Reinvented’ explores how the best-of-suite philosophy can transform your banking operations, helping you create seamless customer experiences. This time around, Tim Rutten is joined by Karan Oberoi, Chief Product Officer at Backbase, to share insights into this transformative concept. Together, they explain how to unify your diverse banking functions into a single and cohesive, integrated platform. Tune in to get insights into how your bank can transition from fragmented systems to a unified platform that enhances both operational efficiency and customer experiences. Curious to find out more about customer-centric banking? Follow us on LinkedIn: -> Backbase -> Jouk Pleiter  -> Tim Rutten Step into the future of finance -> Check out our content hub (00:00) - Welcome to the ‘Banking Reinvented’ podcast (01:11) - Banking industry highlights (02:41) - Understanding the best-of-suite philosophy (05:27) - Challenges with the inside-out approach (09:26) - Benefits of the best-of-suite approach (14:30) - Future-proofing with a unified data model (18:25) - Market trends and industry adoption (22:21) - Key takeaways (24:35) - Episode wrap-up

A composable platform architecture can help your bank create a more efficient, agile, and customer-centric environment. In episode 6 of 'Banking Reinvented,' Tim Rutten and Jouk Pleiter explain the differences between a composable architecture and a monolithic one. They also discuss the critical components of a composable platform fabric, such as identity management, process orchestration, and data synchronization. Tune in to learn more about composable banking and how it can help your bank drive business value and innovation. (00:00) - Welcome to the ‘Banking Reinvented’ podcast (00:37) - AI integration in banking (04:02) - Components of a composable architecture (07:25) - Benefits of a composable architecture (09:12) - Challenges and strategies for implementing (15:00) - Omnichannel banking logic (18:32) - The composable platform fabric at Backbase (25:18) - Biggest lesson on architectural redesigns (27:29) - Key takeaways (32:58) - Episode wrap-up Curious to find out more about customer-centric banking? Follow us on LinkedIn: -> Backbase -> Jouk Pleiter -> Tim Rutten Step into the future of finance -> Check out our content hub

Episode 5 of 'Banking Reinvented' explores how banks can progressively modernize their legacy tech. Tim Rutten and Jouk Pleiter discuss three key banking modernization strategies: the segment-based, journey-based, and headless approaches to updating banking systems. They highlight the importance of having a clear business case and ROI for modernization efforts. Tune in to find out which approach best suits your bank and to discover practical steps for implementing these strategies. (00:00) - Welcome to the ‘Banking Reinvented’ podcast (00:43) - A view on the Apple WWDC event (04:29) - Modernization strategies (05:00) - Segment-based modernization (06:00) - Journey-based modernization (07:00) - Headless approach to modernization (07:41) - Scope of modernization approaches (15:53) - Practical implementation insights (24:27) - Key takeaways (26:19) - Episode wrap-up Curious to know more about customer-centric banking? Follow us on LinkedIn: -> Backbase -> Jouk Pleiter  -> Tim Rutten Step into the future of finance -> Check out our content hub

Episode 4 of ‘Banking Reinvented’ delves into reimagining banks’ operating models. Typically, banks revolve around a core system, encompassing back-office, mid-office, and front-office layers. However, this internal focus lacks customer-centricity. Tim Rutten and Jouk Pleiter tackle the imperative task of modernizing traditional banks’ operating models in this discussion. They highlight the pitfalls of the inside-out model and propose transitioning to an outside-in approach. Tune in to grasp how banking operating models are pivotal in fostering differentiation and driving revenue growth. (00:00) - Welcome to the ‘Banking Reinvented’ podcast(01:27) - Traditional banking operating models(06:05) - Shifting to an outside-in approach(09:04) - Reallocating investments and reducing waste(10:19) - The role of technology in banking transformations(17:25) - Key takeaways(19:05) - Parallels between banking and e-commerce(20:58) - Episode wrap-up Curious to know more about customer-centric banking? Follow us on LinkedIn:-> Backbase-> Jouk Pleiter-> Tim Rutten Step into the future of finance -> Check out our content hub

70% of banks are not succeeding in implementing their digital strategies. How can banks break down and simplify their journey towards digital transformation? In this episode of 'Banking Reinvented', Tim Rutten and Jouk Pleiter discuss what banks should focus on: adopting a modular, composable IT infrastructure. They tackle the build vs. buy debate and discuss all the strategic considerations banks should take into account to not get bogged down by black and white options. Catch our latest episode to learn how to drive successful digital transformation with modernized banking IT systems. (00:00) - Introduction (02:10) - What is “decomposing complexity?” (07:56) - Day-to-day decomposing complexity (10:04) - Modular business capabilities (12:20) - Build vs. buy debate (14:30) - Progressive modernization (17:00) - Horizontal vs. vertical modernization (21:49) - Greenfield vs brownfield approaches (24:03) - Key takeaways (29:39) - The importance of executive leadership (30:07) - Episode wrap-up

Business models such as value flywheels can have transformative power in the banking industry and can help create momentum for digital transformation. In this episode of ‘Banking Reinvented’, Tim Rutten and Jouk Pleiter discuss how the Backbase flywheel can drive both technological and business improvements in banking. By placing composable banking at the core of a bank’s business model, one can generate a positive loop. This helps reduce technical debt, simplify IT landscapes, and optimize customer journeys, while allowing for the reallocation of budgets towards innovation and differentiation.  Join us to learn how banks can grow into technology-centric organizations and drive lasting change. (00:00) - Introduction (03:56) - Explaining the flywheel concept (05:54) - Technology and business flywheels (09:39) - Integrating IT and business flywheels (12:34) - Banks as technology firms (16:05) - Strategic intent and execution (20:30) - Key takeaways (22:12) - Commitment to transformation (23:03) - Episode wrap up 

In this episode, Tim Rutten and Jouk Pleiter, CEO and Founder at Backbase, discuss how banks can expedite customer centricity. They describe and tackle the challenges banks face with legacy systems, and talk about the necessity for progressive modernization to remain competitive. Tune in to explore how financial institutions can re-architect banking around the customer. And discover the actionable steps to make this transformation a reality. (00:00) - Welcome to the ‘Banking Reinvented’ podcast  (02:48) - Defining engagement banking(06:24) - Challenges for traditional banks (08:48) - The paradigm shift in banking (12:31) - Evolution of Backbase (16:10) - Engagement Banking vs. digital banking (20:39) - Key takeaways (22:02) - Importance of the Engagement Banking model (23:27) - Episode wrap-up