Banking on Digital Growth

Description

If you’re part of a financial brand marketing, sales, or leadership team, you know the entire industry is in the midst of exponential change fueled by new technologies. Consumers now make purchase decisions long before they walk into a physical branch location, if they walk into a branch at all, while mobile banks, digital lenders, and fintechs have transformed traditional growth models rooted in legacy broadcast marketing and branch sales strategies.Get ready to gain practical insights, proven ideas, and empowering inspiration as financial brand marketing and sales leaders, along with the leading digital marketing and sales technology firms, share their stories to help you maximize your digital growth potential here on Banking on Digital Growth.

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479 episodes

326) Empowering Financial Well-Being: Innovations, Partnerships, and Understanding Credit
In this episode of the 'Banking on Digital Growth Podcast', host James Robert Lay talks with JB Orecchia (https://www.linkedin.com/in/jb-orecchia-98437710/), the CEO of Savvy Money (https://www.savvymoney.com/). They discuss the importance of enabling clarity for customers and building financial confidence through innovation and partnerships. They emphasize the role of understanding credit scores and providing individuals with an action plan to improve them. JB shares his 35-year journey in financial services and how Savvy Money aims to empower you to take control of your financial future with easy to understand actionable advice about your credit. They also discuss the progress of JB's company and the challenges and solutions in keeping pace with technological change. Join us as we discuss: -Financial stress: A silent epidemic (3:11) -Achieving financial wellness with small, measurable goals (10:04) -Solving people's financial problems through technology collaboration and innovation (23:30) You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts (https://podcasts.apple.com/us/podcast/banking-on-digital-growth/id1498837117), on Spotify (https://open.spotify.com/episode/3DS40kGDVBSIodUfGTbvWI), or here (https://www.digitalgrowth.com/podcast). Hosted on Ausha. See ausha.co/privacy-policy for more information.
28min | Published on August 22, 2023
325) Unpacking Gen Z's Financial Mindset: Breaking Money Taboos
In the latest episode of the Banking on Digital Growth Podcast, discover why many Gen Z individuals feel more comfortable discussing politics than their finances and how just 8% of them fully trust financial institutions. Katrin Kaurov (https://www.linkedin.com/in/katrin-kaurov-160972194/) , CEO and founder of Frich (https://www.getfrich.com/) , the first financial platform for Gen Z, shines a light on the fact that while many Gen Z students are unaware of their credit scores, they are enthusiastic about financial literacy and empowerment. On the other hand, Elizabeth McCluskey (https://www.linkedin.com/in/elizabethcmccluskey/), Director of Discovery at True Stage (https://www.linkedin.com/company/trustage/), emphasi zes the pressing need for guidance, as this generation juggles student loans, investments, and personal spending. Surprising findings? A mere 15% of Gen Z trusts local financial brands, with a significant communication gap between them and the banking sector. Platforms like Frich are bridging this gap, providing peer reviews and a space for genuine financial discussions. If banks and credit unions wish to truly connect with Gen Z, a blend of digital strategy, authentic engagement, and human connection is essential. Join us as we discuss: -The lack of trust in financial services from a Gen Z perspectiv. (5:06) -Why making money social matters (17:36) -The connection between health and fitness and finances. (23:55) You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts (https://podcasts.apple.com/us/podcast/banking-on-digital-growth/id1498837117), on Spotify (https://open.spotify.com/episode/3DS40kGDVBSIodUfGTbvWI), or here (https://www.digitalgrowth.com/podcast). Hosted on Ausha. See ausha.co/privacy-policy for more information.
35min | Published on August 21, 2023
324) Master the Mind in the Age of AI
In this episode of the Banking on Digital Growth Podcast, James Robert dives deep into how the rise of automation, data, and AI is changing the landscape of the banking industry. Drawing parallels to the internet's reception in the 1990s, James Robert emphasizes the importance of learning from past technological transitions. Historical business failures, such as Tower Records and Kodak, underscore the dangers of resisting change and not recognizing technological trends. Join us to understand how to adapt to this dynamic environment and why it's crucial for financial leaders to be proactive in this digital era. Join us as we discuss: -Similarities between the rise of the internet in 1994 and AI today (7:07) -Why education is so important for financial leaders (9:56) -Lessons from the downfall of Tower Records (14:45) Hosted on Ausha. See ausha.co/privacy-policy for more information.
23min | Published on August 15, 2023
323) Unraveling Large Language Models and The Rise of Chat GPT
On November 30, 2022, the launch of Chat GPT marked a momentous step towards mainstream AI awareness, amassing over 100 million users within two months. This introduction spurred a rapid expansion of applications, tools, and integrations with the AI technology. Connor Heaton, VP of Intelligent Automation and AI at Strategic Resource Management, Inc. joined the Banking on Digital Growth Podcast to emphasize the vast potential of AI tools, especially Large Language Models (LLMs), in the financial realm. Their potential to transform customer service, risk assessment, fraud detection, and financial forecasting is remarkable. However, there are challenges, such as inherent biases in the AI models, the 'black box' problem which alludes to the lack of transparency in AI decisions, and the risk of over-relying on AI without human oversight. Understanding and leveraging AI is paramount in today's dynamic technological environment, and humans must learn to collaborate with AI to drive innovation, growth, and value creation. Hosted on Ausha. See ausha.co/privacy-policy for more information.
44min | Published on August 14, 2023
322) Elevate Your Digital Empathy With Consumer Personas
Digital empathy, fostered through well-developed consumer personas, can play a crucial role in creating emotional connections with customers in the digital world. Financial institutions have traditionally relied on demographic data to define their audiences, but a shift towards viewing them as unique communities can provide deeper insights. However, about 70% of financial brands do not use consumer personas, hindering their ability to empathize with their customers. On this episode of the Banking on Digital Growth Podcast, James Robert Lay guides you through the most common pitfalls to avoid when creating consumer personas. Developing personas and recognizing their potential can transform your bank, credit union, or fintech focus from transactions to people, fostering a greater sense of empathy and connection. Hosted on Ausha. See ausha.co/privacy-policy for more information.
19min | Published on August 8, 2023
321) Demystifying Data: Unlocking the Potential of Your Financial Brand's Digital Real Estate
Using data can enrich your digital real estate to ultimately amplify loans and deposits. The balance between owning and renting digital real estate and data is key, along with keeping customers' needs at the forefront. We examined the nuances of Big Data vs. Thick Data. It's the stories these data tell—he DNA behind zeros and ones—that give us valuable insights into consumer behavior. We also highlighted a simple 5-step process to leverage big and thick data to revolutionize your brand's digital real estate: Step 1: Integrate a marketing automation platform. Step 2: Segment data into groups based on user behavior and interests. Step 3: Conduct interviews to gather thick data and understand motivations. Step 4: Formulate a series of targeted ads tailored to the consumer buying journey stages. Step 5: Optimize your digital real estate with personalized user experiences. As we venture deeper into this data-driven era, remember that each data point represents a real person with real concerns and aspirations. Let's make our data strategies always human-centered and aimed at helping our customers realize their dreams. Hosted on Ausha. See ausha.co/privacy-policy for more information.
20min | Published on August 7, 2023
320) Risk & Compliance: Transforming the Department of “No” Into “Tell Me More
Financial thought leaders have historically perceived Risk & Compliance as where ideas go to die. But Michelle Prohaska (https://www.linkedin.com/in/michelleprohaska/), Chief Risk & Compliance Officer at Nymbus (https://www.nymbus.com/), transformed her colleagues’ view by responding to innovative queries with just five words… “That’s interesting. Tell me more.” In this episode of our Heart of Growth series, Michelle shares how her team is shedding its image of the “Department of No” and promoting change by embracing curiosity. Join us as we discuss: - If Risk and Compliance functions really do stifle innovation (3:33) - Why financial leaders should be investing in new communities (12:29) - How A.I. might transform the Risk and Compliance game (18:12) Check out these resources we mentioned during the podcast: - compliance@nymbus.com (mailto:compliance@nymbus.com) You can find this interview and many more by subscribing to Banking on Digital Growth on Apple Podcasts (https://podcasts.apple.com/us/podcast/banking-on-digital-growth/id1498837117), on Spotify (https://open.spotify.com/show/6ml7uCQ7HoVvWTYUNpdUfS), or here (https://www.digitalgrowth.com/podcast). Listening on a desktop & can’t see the links? Just search for Banking on Digital Growth in your favorite podcast player. Hosted on Ausha. See ausha.co/privacy-policy for more information.
30min | Published on August 1, 2023
319) Master Your Mindset: The Key to Powering Your Digital Growth Engine
Someone who heard one of my keynote speeches recently asked me, “How exactly can my bank move forward to build what you call a digital growth engine?” What if I told you the answer to that question won’t be found in a large language model or other AI tool? The answer is actually a lot closer than you think, and it starts with mastering the “tech” sitting between your ears. In this episode of our Inside Digital Growth series, we dive into the power of transforming mindset to help fuel your digital growth engine into the future. Join us as we discuss: - A cautionary tale on being stuck in the present moment (4:17) - How a streaming service became a model for transformation (7:33) - The GRO model and how it can get you to where you want to go (13:22) Check out these resources we mentioned during the podcast: - Text your questions to James Robert at (832) 549-5792 You can find this interview and many more by subscribing to Banking on Digital Growth on Apple Podcasts (https://podcasts.apple.com/us/podcast/banking-on-digital-growth/id1498837117), on Spotify (https://open.spotify.com/show/6ml7uCQ7HoVvWTYUNpdUfS), or here (https://www.digitalgrowth.com/podcast). Listening on a desktop & can’t see the links? Just search for Banking on Digital Growth in your favorite podcast player. Hosted on Ausha. See ausha.co/privacy-policy for more information.
17min | Published on July 31, 2023
318) Marketing Technology Landscape 2023: Maximize Your Tech With a Strategic Framework
With so much exciting new technology at our fingertips, how can financial leaders possibly choose the right ones for their brands? It starts with building a strategic framework — a roadmap — that can guide their teams together in identifying the customer’s needs. Once we’ve come together to determine why we need technology, then we can begin the adoption journey and move forward into the age of AI with confidence. In this episode of our Practical Perspective series, we unpack 2023’s Marketing Technology Landscape report to help gain perspective on a technology strategy framework for financial services. Join us as we discuss: - Marketing technologies’ impact on internal teams (4:05) - The four gears of the digital growth engine (12:02) - Why financial leaders need a tech strategy framework (16:05) Check out these resources we mentioned during the podcast: - Marketing Technology Landscape 2023 (https://chiefmartec.com/2023/05/2023-marketing-technology-landscape-supergraphic-11038-solutions-searchable-on-martechmap-com/) - Chief MarTec (https://chiefmartec.com/about/) You can find this interview and many more by subscribing to Banking on Digital Growth on Apple Podcasts (https://podcasts.apple.com/us/podcast/banking-on-digital-growth/id1498837117), on Spotify (https://open.spotify.com/show/6ml7uCQ7HoVvWTYUNpdUfS), or here (https://www.digitalgrowth.com/podcast). Listening on a desktop & can’t see the links? Just search for Banking on Digital Growth in your favorite podcast player. Hosted on Ausha. See ausha.co/privacy-policy for more information.
20min | Published on July 25, 2023
317) Exploring Growth Opportunities in Small Business and Community Bank Collaboration
Small business owners are frustrated. These courageous entrepreneurs contribute to nearly half of our economy, but large lenders have all but disregarded the needs of these niche consumers. That’s why John Janclaes, President of Nymbus CUSO (https://www.nymbus.com/cuso/), says it’s time for credit unions to step up and partner with SMB owners to help them get their jobs done. In this episode of our Heart of Growth series, John brings the passion as the former contractor explains how community financial brands can guide entrepreneurs on a pathway to care. Join us as we discuss: - Growth opportunities for SMB and credit union partnerships (5:36) - Why community financial brands need to lean into the gig economy (13:53) - How entrepreneurs can know which lending partner is right for them (23:32) Check out these resources we mentioned during the podcast: - Time, Talent, Energy (https://www.bain.com/insights/books/time-talent-energy/) by Michael Mankins and Eric Garton You can find this interview and many more by subscribing to Banking on Digital Growth on Apple Podcasts (https://podcasts.apple.com/us/podcast/banking-on-digital-growth/id1498837117), on Spotify (https://open.spotify.com/show/6ml7uCQ7HoVvWTYUNpdUfS), or here (https://www.digitalgrowth.com/podcast). Listening on a desktop & can’t see the links? Just search for Banking on Digital Growth in your favorite podcast player. Hosted on Ausha. See ausha.co/privacy-policy for more information.
30min | Published on July 24, 2023

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