In this episode, I sit down with Joe Colca, founder of Forge Clarity, to talk about a challenge credit unions and banks keep running into as they try to compete with digital-first players. Most people frame this as a technology problem. Joe and I don’t see it that way.

With more than 26 years of experience at organizations like Vanguard, Citi, and VyStar Credit Union, Joe shares why the real issue isn’t a lack of technology, it’s a lack of strategic clarity. We dig into why many financial institutions struggle to deliver strong digital experiences, how the Innovator’s Dilemma applies to banking today, and what leaders should be thinking about as AI, fintech partnerships, and new operating models reshape the industry.

Listen to learn why strategy, not technology, is the real bottleneck for digital transformation, and what banks and credit unions can do to position themselves for the future.

00:00 Welcome back and episode introduction
01:00 Introducing Joe Colca and his background in financial services
05:00 Joe’s career journey from Vanguard to Citi to VyStar
10:30 The Innovator’s Dilemma and its relevance to banking today
14:30 Branch-based vs. branchless banking models
18:00 Why digital transformation feels so hard for credit unions
22:30 Technology upgrades vs. meeting member expectations
27:30 Fintech partnerships and the build vs. buy decision
33:00 Can banks successfully be both branch-based and digital-first?
38:00 Strategy problems vs. technology problems
43:30 Spinoff digital banks as a potential solution
50:00 Real-world examples of credit union digital spinoffs
56:00 The impact of AI on the future of banking experiences
01:01:30 What Forge Clarity does and who it helps
01:06:30 One action leaders should take right now: strategic clarity
01:09:00 Final thoughts and wrap-up

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