Banking Transformed with Jim Marous

Being a leader in today’s banking ecosystem can be challenging when everything around us is changing so fast. The ability to pivot, be flexible and continuously evolve is a key to success. These challenges are heightened when a leader is a female in an industry historically dominated by males. The balancing of work with the pressures of home and raising a family can change the path to success. But, the path is not impossible if there is focus, commitment to learning, and empathy for coworkers and peers around us. I am thrilled to have Amnah Ajmal, Mastercard’s EVP of Market Development for Eastern European, Middle Eastern and African markets on the Banking Transformed podcast. She shares her leadership journey across multiple continents and why continuous learning is the key to becoming more future-ready.

Companies with engaged employees experience lower turnover, higher productivity, improved communication and collaboration, enhanced customer service and increased sales. According to research, an increased focus on employee experience can increase revenue and profits by more than 50 percent. This is why 84% of executives rate employee experience (EX) as important to delivering a better customer experience (CX), according to Deloitte. Unfortunately, less than 10% of firms say they are ready to actively improve employee experiences. I am excited to have Tiffani Bova, the global customer growth and innovation evangelist at Salesforce, and the Wall Street Journal bestselling author of the new book ‘The Experience Mindset’ on the Banking Transformed podcast. We discuss why organizations need a new operating mentality that takes into account the needs and preferences of both customers and employees with every decision made. 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/financialservices

The banking industry is undergoing a transformation as changing customer expectations and disruption from non-traditional financial players force traditional banks to rethink their value propositions. One growing business model is banking as a service (BaaS) — a partnership in which banks and credit unions leverage their charters to enable non-banking institutions to offer financial services directly to their customers. According to recent studies, BaaS is expected to reach $7 trillion in value by 2030. I am excited to have Jason Mikula, one of the foremost authorities on the banking and fintech marketplace on the Banking Transformed podcast. We discuss how banks can unlock new business opportunities and add value and why BaaS has the potential to transform financial services. 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/financialservices

Money 20/20 offers an amazing view into the future of banking and fintech with hundreds of participating organizations and thousands of attendees from across the globe. It was clear from the outset that embedded finance was a key theme this year. Embedded finance offers banks and nonfinancial organizations the ability to provide a frictionless experience built within a customer’s daily life. More than ever, banks need a strategy to unlock the vast potential of embedded finance. I am excited to have Christoffer Malmer, head of SEB Embedded and Pal Krogdahl, CTO for IBM Core Banking and Payments on the Banking Transformed podcast. We discuss how Swedish banking giant SEB reorganized its tech and innovation operations to become a leader in the embedded finance space. This episode of Banking Transformed Solutions is sponsored by IBM IBM delivers technology and industry expertise to the global financial services industry through its infrastructure offering, software portfolio and consulting services. As a trusted partner to banks, insurers, asset managers and other financial institutions around the world, IBM enables modernization and digital transformation of the world’s mission-critical businesses. IBM is a leading provider of enterprise AI and hybrid cloud architecture to banks and insurers and leads a robust ecosystem of fintech partners serving financial institutions. For more information, visit https://www.ibm.com/industries/financial-services

Gone are the days of ultra-low interest rates when generating deposits and making loans was easy. Today, small and mid-sized financial institutions are battling for retail deposits after recent bank failures spurred a massive exodus of funds to larger players. In fact, a report by S&P Global Market Intelligence noted that several hundred banking institutions, including a handful of large ones, are paying over 4% and even as much as 5% on certificates of deposit amid a general increase in reliance on CDs and increasing thirst for deposits. My guest on the Banking Transformed podcast is Adam Stockton, Managing Director of Retail Deposits at Curinos. We discuss the importance of building stronger connections between consumers’ deposit and credit needs and rethinking the way organizations build relationships in the future. 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/financialservices

The 2023 Retail Banking Trends and Priorities found that 60% of financial institutions are meeting the digital banking needs of customers through collaboration with fintech firms and other third-party solution providers. How are these collaborations increasing the speed and scale of innovation, resetting business models and making traditional financial services organizations more future-ready? I am excited to have Claire Calmejane, Chief Innovation Officer at Societe Generale and Thad Vorozilchak, Vice President, Banking and Financial Markets from IBM on the Banking Transformed podcast. We discuss how financial institutions are disrupting legacy banking with new ideas and technological advances. This episode of Banking Transformed Solutions is sponsored by IBM IBM delivers technology and industry expertise to the global financial services industry through its infrastructure offering, software portfolio and consulting services. As a trusted partner to banks, insurers, asset managers and other financial institutions around the world, IBM enables modernization and digital transformation of the world’s mission-critical businesses. IBM is a leading provider of enterprise AI and hybrid cloud architecture to banks and insurers and leads a robust ecosystem of fintech partners serving financial institutions. For more information, visit https://www.ibm.com/industries/financial-services

Fueled by the growth of plug-and-play banking infrastructure, startup niche banks have emerged that cater to a varied assortment of segments, including specific nationalities and genders, income and age stratifications, occupations and hobbies and even personal values. The majority of these start-ups have a licensed sponsor bank as well as a digital banking offering specific products that consumers (or businesses) can't get elsewhere. The challenge is how to differentiate, achieve scale, fund marketing and acquisition and build loyalty beyond the debit card. My guest on the Banking Transformed podcast is Alex Johnson, founder of Fintech Takes. We discuss the future of niche financial institutions where funding has become more difficult and scalability continues to be elusive. 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/financialservices

The global wearable device market is expected to reach $62.82 billion by 2025. Wearable technology holds potential to revolutionize the way people interact with their financial institution, healthcare provider, and corner retailer leveraging wearable devices from smart watches, to fitness trackers, to apparel. More than ever, wearable devices can create seamless payment experiences while also providing unequaled authentication around digital identity and unique branding opportunities. My guest on the Banking Transformed podcast is David Birch, international speaker, author and advisor to the financial services industry. We discuss how wearable technology can be a major differentiator for both payments and digital authentication in the future. 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/financialservices This episode of Banking Transformed is sponsored by FIS How do you find your feet on ground that’s constantly shifting? You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad. Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-report FIS. Advancing the way the world pays banks and invests.

Our expectations of what a bank is, and customers will engage with financial services has changed immensely over the past several years. And that change will only happen faster in the future. It’s indisputable that technology has been the driving force behind this change. As the industry gets ready for Money 2020 in Amsterdam, it good to assess how technologies such as artificial intelligence, machine learning, the blockchain, cloud computing, IoT, robotics and biometrics are reshaping banking, enhancing customer experiences, and paving the way for new banking business models. I am excited to have John Duigenan, General Manager, Financial Services and IBM Distinguished Engineer, IBM Technology on the Banking Transformed podcast. We will be discussing how technologies like AI will impact the future of banking, and how banks must become future ready. This episode of Banking Transformed Solutions is sponsored by IBM IBM delivers technology and industry expertise to the global financial services industry through its infrastructure offering, software portfolio and consulting services. As a trusted partner to banks, insurers, asset managers and other financial institutions around the world, IBM enables modernization and digital transformation of the world’s mission-critical businesses. IBM is a leading provider of enterprise AI and hybrid cloud architecture to banks and insurers and leads a robust ecosystem of fintech partners serving financial institutions. For more information, visit https://www.ibm.com/industries/financial-services

Technological advances, regulatory changes, and rising consumer expectations have led to a tidal wave of challenges for the financial marketer. While most marketers focus on the technology to drive results, research shows that a change in legacy mindset is far more important. The foundation to drive growth in today’s competitive and cultural landscape is a playbook that will help you: • Build a brand that drives loyalty and advocacy, • Stand out with breakthrough content and campaigns, • Develop a better understanding of what works and what doesn’t, • Drive more efficiency from your paid media budget, • Foster an entrepreneurial culture in your team to move faster and stay on top of change. We are very fortunate to be rejoined on the Banking Transformed podcast by Eric Fulwiler, co-founder and CEO of the marketing consultancy, Rival on the Banking Transformed podcast. We discuss what drives the growth of successful fintech and banking brands and where a financial marketer should start. Download the Fintech Playbook here. 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/financialservices This episode of Banking Transformed is sponsored by FIS How do you find your feet on ground that’s constantly shifting? You have to read The Global Innovation Report from our partners at FIS. From embedded finance and ESG to crypto, decentralized finance and the metaverse, FIS pinpoints the trends you need to watch – and explains how innovation can give you an advantage, in good times and bad. Discover how the latest innovations could affect your business. Explore the research today by visiting www.fisglobal.com/global-innovation-report FIS. Advancing the way the world pays banks and invests.