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- Winning Through Empathy, With Austin Adams, Retired CIO of JP Morgan ChaseIn this episode of The Digital Banking Podcast, host Josh DeTar and Austin Adams, retired CIO at JP Morgan Chase, discussed why empathy is more important than feature functionality when community FIs try to take on the megabanks. Adams also shared a little of his knowledge and expertise in driving innovation and superior customer experience in a complex and ever-changing environment.
- Think Big, Start Small, Move Quickly, With Ashish Garg of EltropyIn this episode of The Digital Banking Podcast, host Josh DeTar welcomed Ashish Garg, the founder and CEO of Eltropy. They talked about the importance of community financial institutions in underserved communities, how community FIs can find their niche, and why technology is a powerful ally for financial institutions.
- Achieving Differentiation in a Crowded Market, With Aaron Wollner of Quontic BankIn this crowded marketplace, how can a community financial institution possibly differentiate itself? Better technology is table stakes, because as soon as you add the latest shiny object to your tech stack, every other FI in town will add it, too. In the end, differentiation can only come from better ideas.In this episode of The Digital Banking Podcast, our Josh DeTar welcomed Aaron Wollner, the CMO of Quontic Bank, which is the best online bank according to Forbes. Wollner discussed the importance of authenticity for a brand to resonate and explained the concept of non-monogamous banking. The two discussed the importance of digital transformation, how Quontic adapts to macroeconomic changes, and the one question you must constantly ask.
- Remaining Relevant Through Innovation, With Benjamin Maxim of MSUFCUCommunity financial institutions are no longer competing with just each other. In an increasingly all-digital world, they’re competing with every other app and service that facilitates some sort of financial transaction. If these institutions don’t innovate to stay ahead of the curve, they risk losing relevance – especially with younger generations.In this episode of the The Digital Banking Podcast, host Josh DeTar welcomed Benjamin Maxim, Chief of Digital Strategy & Innovation at Michigan State University Federal Credit Union (MSUFCU). Ben explained why community financial institutions must innovate and what the process of adopting new ideas looks like. The two also discussed how these institutions can use vendors and their offerings; how they decide whether to build, buy, or partner; and how they select partners.
- Bridging the Language Gap Between Fintechs and Community FIs, With Lisa Gold SchierMany new fintechs started out focused on a direct-to-consumer (DTC) model. They’re not accustomed to many of the technological constraints of the banking industry and, just as important, they’re unfamiliar with the language of the industry. This can lead to break-downs in communication between fintechs and FIs, even though they very much need each other right now.In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Lisa Gold Schier, the Chief Strategy Officer at ASA Technologies. They discussed the importance of the relationship between tech providers and financial institutions and how to bridge the language gap. They looked at adopting new technologies, why FIs should make technology changes, and the test-learn-go method.
- Balancing Collaboration and Competition, With Danny Payne of Jack HenryCollaboration and cooperation in the face of competition. It’s a concept that both financial institutions and fintechs must embrace to survive. In this episode of The Digital Banking Podcast, host Josh DeTar was joined by Danny Payne of Jack Henry. The two discussed how competing fintechs can share a common forum and learn from each other to meet their users' specific needs.Payne and DeTar also discussed digital transformation and the challenges community financial institutions face in approaching it. Payne explained why community FIs suffer from “conversion aversion” and how they can overcome it.
- The People Side of Banking, With Kareem Refaay of The London Institute of Banking & FinanceIt’s easy to think of banking as a numbers industry. After all, that’s what a dollar is: a numerical representation of buying power. However, as our guest in this episode of The Digital Banking Podcast made clear, banking is really a people industry. It’s people working at financial institutions helping the people who bank there to better their financial lives.In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Kareem Refaay, the managing director of The London Institute of Banking & Finance. Refaay explored the similarities and differences between banking and finance in Europe and the U.S. He and DeTar discussed digital transformation, financial inclusion, and why problems with managing money should be defined as a disease.
- Banking on Engagement, With Michael Bank, the Co-Founder of Blip LabsThe reason it’s so hard to define digital transformation is because it means – or should mean – something different to every financial institution. In other words, the finish line may be the same for everyone, but the starting line will always be different. Sometimes simply adding a new layer of technology will work. Other times, you’ll need to step back and consider completely reengineering a process based on the availability of new technology. The key is to always be mindful of your accountholders’ needs and focus on creating the best possible experience for them.In this episode of The Digital Banking Podcast, Blip Labs CEO Michael Bank explained what digital transformation in banking should look like. Bank and host Josh DeTar discussed the idea of having an aggregated financial picture, new ideas and expectations of the "younger guard," and why automation is so important.
- Accountholder Communications: Choosing the Right Channel at the Right Time, With Gregg HammermanThere are many ways for financial institutions to communicate with their accountholders in the digital age. With so many options, it’s easy mistake quantity for quality. Effective communication is still a matter of listening mindfully to the people you serve and intelligently providing them with the information that’s pertinent to them. The only thing that’s changed is how that’s accomplished.In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Gregg Hammerman, the CEO of Larky. The two discussed the banking world and the challenges digital transformation has brought to financial institutions. They talked about sales as a service, how to communicate with customers in the right way, and how to choose a communication channel.
- Being Totally Prepared for an Uncertain Future, with Don MacDonaldDuring his 30+ years marketing technology of all sorts, Don MacDonald worked for Intel, Qualcomm, Fiserv, and MX. As a result, the insights he shared on this episode of The Digital Banking Podcast are beyond valuable as they help banking professionals mitigate fear and embrace change. MacDonald shared Andy Grove's philosophy and how it shaped his thinking, the lessons he learned from bees and believes could benefit everyone, and how taking the customer-first approach and providing a personalized experience while leveraging technology and data is the future of FIs.
- Branches Are Dead, According to Ron Shevlin, Chief Research Officer at Cornerstone AdvisorsDo financial institutions still need branches? Is digital transformation more of a cultural shift than a technological shift? According to one industry insider, the answer to both questions is no.In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Ron Shevlin, the Chief Research Officer at Cornerstone Advisors. Shevlin and DeTar explored the world of fintech and tech trends in banking. They also discussed the digital transformation of FIs and what's going on in banking in this context.
- Embracing Technology to Improve Lives, With Brett WoodenIn this episode of The Digital Banking Podcast, host Josh DeTar welcomed Brett Wooden, the SVP of Innovation at FTSI. They talked about the benefits of integrating AI into banking technology, the importance of thinking outside the box, and why you need to create a seamless and convenient digital experience for your accountholders.
- The Time for Collaborative Banking Is Now, With Landon GlennFintechs are no longer the enemy. They’re gradually moving into the role of trusted technology partner. The sooner you recognize and accept that, the better off your financial institution will be.In this episode of The Digital Banking Podcast, ASA founder Landon Glenn and host Josh DeTar discussed digital transformation and the vast number of fintech launches in recent years. They discuss the danger these companies present to traditional FIs, but also the challenges fintechs face when coming to the market. Glenn also explained the terms open banking and collaborative banking, and shared how they benefit traditional FIs and fintechs alike. Finally, he explained why creating opportunities for all is the right path forward in the finance space.
- The Good and the Bad of Customer Feedback, With Catherine OrdemanOpinions are like … well, you know the saying. And that’s all customer feedback is – opinions. Some feedback is downright transformative, other feed back not so much. However, because it comes from your customers, you must respond to all of it in some measure. The trick is determining the appropriate response for any given feedback. You can’t overreact, but you can’t underreact, either.In this episode of the Digital Banking Podcast, host Josh DeTar welcomed Catherine Ordeman, Head of Banking Partnerships at fintech Mercury. They discussed the importance of customer feedback, how to identify your customers' pain points, and why you need to differentiate relevant feedback from irrelevant feedback.
- Don’t Forget to Include Your Employees in Digital Transformation, with John Findlay, CEO of LemonadeLXPTraditionally, it’s always been your employees who are responsible for the “front line.” In the wake of digital transformation, has technology taken over responsibility for the front line? The short answer is no. Technology is just a new tool that can help your employees better serve your accountholders. Thus, your employees must be well-versed in the use of that technology. In this episode of The Digital Banking Podcast, host Josh DeTar was joined by John Findlay, the CEO of LemonadeLXP. The two discussed the importance of digital transformation in the modern-day finance space, why certain financial institutions develop defense mechanisms against this change, and the ways to overcome them. Findlay also talked about gamification and how it impacts employee training, helps companies increase engagement and makes their employees successful digital ambassadors.
- Open Banking, Conversational AI and a Whole Lot More, with Dan Black of Boost.aiEach new voice on The Digital Banking Podcast brings with it a fresh perspective that adds to the conversation, and this installment is no different. In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Dan Black, Strategic Partnerships and Accounts at Boost.ai. The two discussed open banking and the age of conversational AI. They also covered the conversion to digital banking, ways of communicating with users, and the evolution of fraud in financial services.
- Determine Your Strategic Goals Before Selecting a Fintech Partner, with Don Shafer, Co-founder & Chief Evangelist at QuiloAre fintechs your financial institution’s enemy or its savior. Or something in between. The correct answer is, all of the above. In this episode of the Digital Banking Podcast, host Josh DeTar welcomed Don Shafer, the co-founder and chief evangelist at Quilo. Among other things, the two discussed how fintechs generally fall into one of three different “buckets.” They also looked at people's expectations from banking and tech, as well as why you shouldn’t close your branches.
- Cryptocurrency and the Community FI, With Lou Grilli of PSCUThink you understand cryptocurrency? More important, do you understand what it means to your community financial institution? Probably not as well as this episode’s guest, Lou Grilli, Sr. Innovation Specialist at PSCU. Host Josh DeTar dug deep as Grilli explained crypto and shared how it will revolutionize financial services.
- Leveraging Technology to Serve the Underserved, with Kristi Kenworthy of Dora FinancialThe core philosophy of credit unions is people helping people and enabling underbanked communities that don't have access to traditional financial institutions. While technology can play an important role in effectively reaching those communities, there will inevitably be some members of the community that don’t have access to modern technology. Therein lies the rub. In this episode of Digital Banking Podcast, Kristi Kenworthy, Managing Director of Dora Financial, a CUSO of credit union USALLIANCE Financial, joined host Josh DeTar to discuss the present and future of the credit union industry. She introduced Dora and shared its origin story, vision, and mission. When asked about whether credit unions are following the core philosophy (as mentioned earlier), Kristi said, ''Do credit unions do a good job? Absolutely. They do a great job trying to serve people of modest means who might shun mainstream financial products and services. But could Dora be a solution that would help you do an even better job? If there are still 50 million unbanked Americans, we have to do a lot of work to try to serve that market and bring them into the credit union industry.''
- Good Decisions Require Good Data and Good Accountholder Understanding, with George Estrada, Principal Strategic Advisor for Credit Unions at AWSGeorge Estrada, Principal Strategic Advisor for Credit Unions at AWS, emphasizes that listening to the needs of your accountholders and community members is very important to retain them. In this episode of the Digital Banking Podcast, Estrada and host Josh DeTar considered the relationship between a credit union (CU) and its members. They discussed the importance of user experience, the positive impact of innovative external sources, and how to develop a data strategy that protects your data as a CU.