ProSight Banking Strategies

Many Americans live paycheck to paycheck, or are in a situation where one financial emergency could create financial chaos. Banks can help these people by encouraging and building financial literacy, which in time can foster lasting customer loyalty. Luvleen Sidhu, co-founder, president and chief strategy officer of BankMobile, discusses breakthrough practices that can help make a difference.

The banking industry knows by now that it’s missing major opportunities to tap the small business lending market. But between paperwork hassles for borrowers and return-on-investment fears from lenders, it’s left a void for fintechs to exploit. Sam Taussig, head of global policy at Kabbage, explains how online platforms are taking the friction and guesswork out of small business loans.

In 10 years, the banking landscape has accelerated to digital warp speed, bringing with it mobile apps, remote deposit capture, chatbots, upstart startups and the first stirrings of artificial intelligence. But is the temptation to keep up a trap that compels financial institutions to try being all things to all people? Julien Courbe, who leads PwC's U.S. Financial Services Advisory, weighs in on how banks can gain focus and renewed perspective through picking the right projects—and leveraging the never-ending endgame of stellar customer experience.

Small businesses are healthy, and the fundamentals are strong. But bankruptcies are up, and small businesses with good credit have big decisions to make in terms of investing back into equipment and hiring. Are owners finally ready to take their growth, enthusiasm and investment to the next level? And how can banks help? Gavin Harding, senior business consultant with Experian, surveys the landscape and discusses a range of topics from the march of digital technology to regulatory risk—all in the context of a financial services world that's moving faster than ever.

With artificial intelligence taking off, banks find themselves in an unprecedented position to meet and anticipate customer needs. But on the payments side of the equation, there's still a struggle to connect the dots of consumer experience. Can financial institutions play the role of catalyst? Fran Duggan, CEO of Payrailz, shares how banks can indeed make it happen—though he stresses that there's still a long way to go.

The conversation surrounding bank branches, and their future, continues to dominate conversation in financial services. Variables run the gamut from staffing levels to overall customer usage, and how the latter will drive quality and quantity in the former. David Kerstein, president and founder of Peak Performance Consulting Group, reveals how the common assumptions about branches aren't always spot on, while offering precise insights on the road ahead—including what needs to change and how.

In her time at Netflix, Patty McCord help create a much-acclaimed slide deck on talent management that has been seen by millions. In McCord’s podcast, this BAI Beacon keynote speaker and author of the new book “Powerful” talks about why banks should do away with both performance reviews and the notion of the “empowered” employee.

Cybersecurity at banks, to quote BAI managing director Karl Dahlgren, is a constant game of Whac-A-Mole as institutions struggle to stay a step ahead of resourceful, relentless malefactors. Yet for all the concerns, banks are only as strong as their weakest link—which in some cases might be an anemic office password such as “1234.” David Bryan, the self-described “Breaker of Things” for IBM’s X-Force Red, reveals how white hat hackers test (and often defeat) the cybersecurity measures businesses have in place, while offering practical advice for keeping bank data secure.

Today’s fintech industry covers such a wide swath of innovation and invention, it’s harder than ever to identify specific pockets of major forward movement. Even the concept of artificial intelligence too often lacks clarity as it pertains to banking breakthroughs. On thing’s for sure: Competition between banks and high-techs is evolving into cooperation. Meanwhile, the revolution continues as tech traction in payments couldn’t come at a better time. Lamia Pardo, Senior Vice President of growth and operation at Pangea Money Transfer, offers her insight on the most exciting changes on the financial technology front.

For all its focus on metrics and earnings reports, the banking world too often overlooks a non-numerical variable: standout culture. Yet that softer side of the equation, when in balance, produces numbers that are tough to beat. USAA boasts the industry's highest Net Promoter Score, reflecting how much their customers praise them. And Zachary Gipson, USAA's Chief Innovation Officers, says without reservation, "We love our members." Gipson takes us behind the scenes of USAA's innovation and culture success story.