Banking Transformed with Jim Marous

Marketers and product teams spend heavily on acquiring a customer, only to churn them with a bad first experience. Fraud is becoming an increasing problem with customer experiences, with research finding that payment fraud increased by as much as 70% in 2021.More than ever, we need a new way of looking at fraud prevention, one which deeply inspects user behavior before, during, and after the time of purchase, helping move money fast and without risk, improving the overall customer experience.I am excited to have Simon Taylor and Soups Ranjan from Sardine on the Banking Transformed Podcast. We discuss why security and risk-management leaders need to focus on ROI, false positive rates, and customer experience to protect the entire payments process.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 FISDiscover Worldpay for Platforms, a payments platform that puts you in control and puts your software customers first. This all-in-one payment facilitation platform offers more than just embedded payments. With Worldpay for Platforms, take advantage of a full set of solutions including professional, managed, and advisory services to enhance your business. Make your software even better with a solution that easily integrates and adapts to your needs, helping you create experiences beyond payments.Visit FISglobal.com/WorldpayPlatforms to learn more.

We continue to see the rise of digital commerce based on customer adoption of innovations like digital wallets, buy now pay later (BNPL), instant payments, and cryptocurrency. It is expected that the payments industry is primed for even more innovation over the next 5 years.The bottom line is investment in payments technology is needed more than ever to enable players to be more agile and future-ready, delivering faster speed and scale of innovation and greater revenue.Our guest on the Banking Transformed podcast is Dan Hanks, VP - head of product development for lending at i2c Inc. He discusses the evolving opportunities and challenges available in today’s payments ecosystem.This episode of Banking Transformed Solutions is sponsored by i2ci2c is a global provider of highly-configurable payment and banking solutions. Using i2c's proprietary "building block" technology, clients can easily create and manage a comprehensive set of solutions for credit, debit, prepaid, lending and more, quickly and cost-effectively. i2c delivers unparalleled flexibility, agility, security and reliability from a single global SaaS platform. Founded in 2001, and headquartered in Silicon Valley, i2c's next-generation technology supports millions of users in more than 200 countries/territories and across all time zones.For more information, visit www.i2cinc.com and follow us at @i2cinc.

In July of this year, Lindsey Johnson took the helm of the Consumer Bankers Association, replacing Richard Hunt, who had guided the organization for the previous 13 years.This is an important time for the CBA, as economic uncertainty, new legislative initiatives, the introduction of modern technologies, and a redefined structure of the financial services ecosystem are emerging. The challenges and opportunities are enormous.We are fortunate to have Lindsey Johnson, president and CEO of the Consumer Bankers Association (CBA) on the Banking Transformed podcast. In this episode, Johnson provides her perspectives for the future of retail banking and the CBA during a period of tremendous change.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 FISDiscover Worldpay for Platforms, a payments platform that puts you in control and puts your software customers first. This all-in-one payment facilitation platform offers more than just embedded payments. With Worldpay for Platforms, take advantage of a full set of solutions including professional, managed, and advisory services to enhance your business. Make your software even better with a solution that easily integrates and adapts to your needs, helping you create experiences beyond payments.Visit FISglobal.com/WorldpayPlatforms to learn more.

Financial institutions must accelerate their use of data and insights to improve customer satisfaction. By harnessing the power of AI-based personalization, banks can deliver the most relevant information, advice, offers and products … at scale and in compliance.It’s time to understand what each customer wants and needs … providing contextual service instantly. It’s also time to democratize data to enhance experiences for both customers and employees.I am excited to have Devin Poole, Sr. Product Marketing Manager from Coveo on the Banking Transformed podcast. Devin shares how banks and credit unions Increase NPS while reducing costs … finding opportunities to increase revenue and grow customer loyalty.This episode of Banking Transformed Solutions is sponsored by CoveoAs a leader in applied AI, Coveo Relevance Cloud™ help financial institutions accelerate their digital transformations while prioritizing customer satisfaction. With the power of AI-based personalization, banks and insurers can deliver the most relevant information, advice, offers, and products — tailored to each client.For more information visit get.coveo.com/bankingtransformed

Finance is quickly moving from digital platforms into an era of hyper-personalization, where every user will have ultimate control over their data, their devices, and the value propositions created. This will have a profound effect on the entire banking ecosystem ... and society.Financial institutions are at risk if this transformation is not understood. With democratized finance, anyone can personalize every aspect of finance, including currencies and products created.I am excited to have Emmanuel Daniel, global thought leader, financial industry expert, and author of the book, The Great Transition: The Personalization of Finance is Here,” on the Banking Transformed podcast. Emmanuel shares how financial institutions will need to disrupt current business models to become future-ready.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 FISDiscover Worldpay for Platforms, a payments platform that puts you in control and puts your software customers first. This all-in-one payment facilitation platform offers more than just embedded payments. With Worldpay for Platforms, take advantage of a full set of solutions including professional, managed, and advisory services to enhance your business. Make your software even better with a solution that easily integrates and adapts to your needs, helping you create experiences beyond payments.Visit FISglobal.com/WorldpayPlatforms to learn more.

Traditional banks and credit unions continue to face competition from challenger and online-only banks willing to offer higher yields for savings and deposits. However, now may be the perfect time to use market instability to build new banking relationships with innovative deposit and lending products.In addition, banks can leverage an understanding of consumer behaviors to detect deposit-pricing sensitivities and tailor promotional offers to reach consumers most at risk of attrition and those who may move relationships to your organization.We have Ryan Walker, Executive Strategist for Kasasa on the Banking Transformed podcast. Ryan shares how banks and credit unions target promotional deposit and loan offers to grow relationships without sacrificing profitability and margins.This episode of Banking Transformed Solutions is sponsored by KasasaAs the Fed continues to raise rates, an account with a compelling rate may have many consumers rethinking where their loyalty lies. In this podcast, you’ll learn how community financial institutions have a unique opportunity to use the instability to establish new banking relationships now that ultimately lead to primary financial institution relationships — generating more non-interest income, and higher loan volumes.For more information visit https://www.kasasa.com/RisingRates

Chase, the digital banking app launched by JPMorgan, has reached one million UK customers after launching in September of last year with a 1% cashback deal and fee-free overseas card use. This growth exceeds the growth of both Monzo and Starling … two other UK neobanks.10x Banking, the UK-based cloud-native banking technology business, created the platform that powered Chase’s entry into the UK retail banking market. The platform provided a scalable architecture that will allow Chase to expand its retail banking proposition in the UK and beyond.To discuss why a scalable core banking platform built on micro-services and APIs is the key to building a digital bank, we have Antony Jenkins, CEO and founder of 10x Banking on the Banking Transformed podcast.

Americans’ total credit card balance reached $887 billion in the second quarter of 2022, with close to a $50B jump since the first quarter of 2022. The 13% increase since 2021 is the largest year-over-year jump in more than 20 years.Unfortunately, most people with an active credit card account aren't able to pay their bills in full. At the same time, the average APR for all current credit card accounts jumped in the second quarter of 2022. How can consumers get control of their credit card debt?My guests on the Banking Transformed podcast are Frida Leibowitz and Rachel Lauren, cofounders of the habit-shifting rewards platform for debt payoff, Debbie. They share how Debbie challenges the status quo of how financial institutions can use incentives to drive higher engagement that leads to better financial outcomes.

Banks are making significant investments in their data and analytics initiatives. Unfortunately, most organizations struggle moving from the data preparation and analytics process to the “last mile” of data utilization, where insights are translated into process changes and customer outcomes that drive value.The last mile is where the focus moves from great reports to exceptional results. At this stage, the insights generated become part of improving internal processes and personalization that help decision making and improve customer experiences.We have Greg Spencer, Senior Sales Engineer at Segmint, an Alkami Company, on the Banking Transformed podcast. Greg shares how banks and credit unions must focus on ‘finishing strong’ as they leverage insights for improved results.This episode of Banking Transformed is sponsored by SegmintSegmint 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.Visit HERE to learn more about Segmint.

Launched shortly after the 2008 financial crash, Betterment pioneered robo-advisory services and opened the door for individuals to manage their money without the engagement of traditional financial advisors.Despite tremendous growth, a valuation of $1.3 billion in 2021, and a customer base of more than 700,000 customers, limited market potential and increased competition impacted the potential for long-term sustainable growth. This prompted Betterment to expand services offered and markets served.My guest on the Banking Transformed podcast is Michael Reust, president of Betterment. Mike shares how Betterment is using a challenger mindset to future-proof earnings and growth.