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AI and generative AI are set to revolutionize the financial services industry. But how are banks leveraging these powerful tools, and what challenges do they face? In this episode of Banking Transformed, Monica Hovsepian and John Radko from OpenText will share their insights on the current state of AI in banking, its potential to transform customer experiences, and strategies for fast and seamless deployment.
Drawing from the latest Digital Banking Report, they explore the current adoption levels of AI in banking, the challenges institutions face in implementation, and strategies for bridging the AI readiness gap.
Download the Digital Banking Report, State of AI in Banking here.
This episode of Banking Transformed Solutions is sponsored by OpenText
OpenText™ is the leading Information Management software and services company in the world. We help organizations solve complex global problems with a comprehensive suite of Business Clouds, Business AI, and Business Technology. OpenText™ serves 19 of the top 20 Financial Services institutions globally. Unleash the power of AI and analytics to become a leading digital bank. For more information about OpenText (NASDAQ/TSX: OTEX) click here: Operational excellence in Banking | OpenText -
Against a landscape where 91% of financial institutions are either assessing or deploying AI in production, Malcolm deMayo, global vice president of the financial services industry at NVIDIA, joins us on the Banking Transformed podcast.
This episode provides an in-depth look at the rapidly evolving AI landscape in financial services, backed by NVIDIA's latest industry survey of global financial services professionals. We explore why 75% of institutions consider their AI capabilities industry-leading or competitive and discuss the finding that 97% plan to increase their AI infrastructure spending this year.
Malcolm deMayo also shares insights on how institutions tackle key challenges, including data privacy and talent acquisition, while implementing AI across critical areas such as risk management, operations improvement, and customer experiences. -
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In this episode of Banking Transformed, we're joined by Brian Solis, Head of Global Innovation at ServiceNow and author of the newly released book 'MindShift.'
We explore the critical insights from Brian's latest work, which offers a roadmap for corporate executives navigating the complexities of leadership and innovation in an era of unprecedented change. We'll discuss how leaders can find clarity amidst uncertainty, harness the power of AI while maintaining a human touch, and leverage customer experience as a competitive advantage.
From redefining leadership in the digital age to embracing disruption as an opportunity for growth, Brian's 'MindShift' provides a fresh perspective on thriving in today's rapidly evolving business landscape. -
In this episode of Banking Transformed, I sit down with Robert Watts, VP of Consumer Credit at D.L. Evans Bank, a $3 billion community bank serving Southern Idaho and Northern Utah. We discuss how the bank is embracing the power of instant loan decisioning, balancing risk, compliance, and customer needs.
Watts highlights the bank's extraordinary growth, transitioning from processing 100-200 loan applications annually to around 300 monthly applications, mainly due to rethinking internal processes and collaborating with innovative partners.
Watts also advises other financial institutions embarking on digital transformation, recommending a step-by-step approach, embracing change, and avoiding the temptation to implement all changes simultaneously.
This episode of Banking Transformed Solutions is sponsored by MeridianLink
MeridianLink® (NYSE: MLNK) powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink’s scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle.
MeridianLink enables customers to accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. Its partner marketplace supports hundreds of integrations for tailored innovation. For more than 20 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. Learn more at meridianlink.com. -
Two years ago, we introduced you to the Debbie app, an innovative rewards platform aimed at improving financial wellness. We're excited to welcome back Frida Leibowitz, one of Debbie's co-founders, to discuss their journey since our last conversation.
In a world where economic uncertainty has become the norm, the need to transform borrowers into wealth builders has never been more crucial. In this episode of Banking Transformed, we explore how the Debbie app has evolved, the challenges it has faced, and the impact it has had on users' financial behaviors.
Join us as we delve into Debbie's growth story, their adaptive strategies, and their vision for the future of financial wellness. -
In an industry where security, efficiency, and client relationships are paramount, having an integrated and democratized document and information management platform is more important than ever.
In this episode of Banking Transformed, we explore the evolving landscape of document and information management in financial services with Matt Geiger from Sharefile. We discuss critical challenges banks and credit unions face and how innovative solutions can address these issues head-on.
Matt also touches on the future of financial document management, including the role of AI and machine learning in creating more personalized, secure, and efficient systems.
This episode of Banking Transformed Solutions is sponsored by Sharefile
ShareFile helps professionals deliver modernized client experiences with collaboration and workflow technology that is highly secure, easy to use, and customizable to fit their organization’s unique needs. Designed with highly regulated industries in mind, ShareFile offers secure, digital technology to simplify workflows and improve collaboration. ShareFile works with your existing technologies and gives you added visibility, speed, and efficiency, without sacrificing security.
Visit sharefile.com -
In this episode of Banking Transformed, we explore the transformative power of data in the financial services industry. Joining us is Jeremiah Lotz, SVP of Product & Data Experience at Velera, formerly known as PSCU/Co-op Solutions.
We discuss how banks and credit unions can harness data to drive strategic decisions, enhance customer experiences, and navigate the delicate balance between AI capabilities and human insights.
Jeremiah also shares his expertise on developing effective data strategies, ensuring privacy and security, and measuring the success of data initiatives in the ever-evolving landscape of modern banking.
This episode of Banking Transformed Solutions is sponsored by Velera
Velera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit velera.com. -
As financial institutions face growing competition and increasing regulatory pressure, AI could unlock unprecedented efficiency, innovation, and growth—if only they could overcome the hesitation that holds them back.
In this episode of Banking Transformed, we sit down with Sandeep Mangaraj, Microsoft's Managing Director of Fintech, to explore the critical role of speed in AI transformation for financial services.
Sandeep discusses the barriers to AI adoption in financial services, the risks of falling behind in this fast-moving technology landscape, and the tangible benefits of empowering employees with AI tools today. He also shares insights into how banks can experiment with AI responsibly while building the foundations for long-term success.
This episode of Banking Transformed is sponsored by Microsoft:
Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.
More at Microsoft.com/financialservices -
In an era of digital transformation reshaping the financial landscape, understanding shifts in consumer behavior is crucial for banks and credit unions aiming to stay competitive. Today, we have Dave Feuer, the Chief Product Officer at Galileo, on the Banking Transformed Podcast. We delve into the fragmentation of banking relationships, the satisfaction paradox, and the imperative for data-driven personalization across generations.
We discuss the challenges and opportunities these shifts present for traditional banks and credit unions, the importance of leveraging real-time data, and the need for seamless digital experiences.
This episode of Banking Transformed is sponsored by Galileo
Galileo Financial Technologies, LLC and certain of its affiliates collectively comprise a financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ: SOFI) that enables fintechs, financial institutions, and emerging and established brands to build differentiated financial solutions that deliver exceptional, customer-centric experiences. Through modern, open APIs, Galileo’s flexible, secure, scalable and fully integrated platform drives innovation across payments and financial services. Trusted by digital banking heavyweights, early-stage innovators and enterprise clients alike, Galileo supports issuing physical and virtual payment cards, mobile push provisioning, tailored and differentiated financial products and more, across industries and geographies.
Visit galileo-ft.com for more information -
Today we're joined on the Banking Transformed podcast by David Acevedo, president of 360View. David discusses the critical importance of developing a comprehensive understanding of customers in the banking industry. We delve into how a 360-degree customer view can transform marketing, analytics, product development, and overall customer experience.
Acevedo discusses the challenges and benefits of implementing a holistic customer data strategy and provides practical advice for banks looking to enhance their customer understanding.
This episode of Banking Transformed Solutions is sponsored by 360View
360 View is the CRM Platform developed for banks and credit unions, providing the necessary tools to maximize your team’s performance. Their solution offers the best 360-degree view of your customers empowering you to make smarter decisions and grow your relationships. The platform includes CRM, Marketing Automation, Analytics, Profitability, and Goal and Incentive Tracking and was recently named a Top CRM Solution by Banking CIO Outlook.
For more information visit www.360view.com -
In this episode of Banking Transformed, we sit down with Scarlett Sieber, Chief Strategy & Growth Officer of Money20/20, to explore the remarkable journey of this unique fintech and financial services event.
Since its inception in 2012, Money20/20 has grown from a startup conference to a global phenomenon, mirroring the rapid evolution of the banking industry itself. Scarlett shares insights on industry trends, the challenges facing traditional banks, and the innovations shaping our financial future.
Join us for a fascinating look at how Money20/20 has both witnessed and catalyzed the transformation of banking over the past decade. -
In this episode of Banking Transformed, recorded at MeridianLink LIVE in Nashville, I interview Janel Hartin, Senior Loan Administrator at Bangor Savings Bank. We discuss the bank's digital transformation journey, focusing on streamlining the lending process and enhancing customer experience.
Hartin shares insights into Bangor Savings Bank's evolution from a paper-based lending system to a fully digital process, highlighting the bank's advancements in achieving rapid loan processing times and improving customer service.
Hartin emphasizes the importance of balancing digital innovation with maintaining strong community connections, covering topics such as risk management, employee training, and strategies for engaging younger customers.
This episode of Banking Transformed Solutions is sponsored by MeridianLink
MeridianLink® (NYSE: MLNK) powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink’s scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle.
MeridianLink enables customers to accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. Its partner marketplace supports hundreds of integrations for tailored innovation. For more than 20 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. Learn more at meridianlink.com. -
Today on the Banking Transformed podcast, we’re joined by Jaime Dominguez, Principal Product Marketer at Q2, to discuss their groundbreaking report on cross-generational banking preferences. This study, conducted in partnership with Harris Research, offers crucial insights into how financial institutions can deliver personalized experiences across different age groups.
We discuss the surprising similarities in banking preferences across generations, the high level of trust in the banking industry, and the strong desire for personalized experiences. We'll also delve into the role of AI in fraud detection, the importance of data-driven personalization, and Gen Z's unique banking behaviors.
The findings challenge some common assumptions about generational differences in banking preferences and highlight important opportunities for financial institutions. -
As the credit landscape shifts under the pressures of economic changes, new technologies, and evolving consumer behaviors, financial institutions must explore how to adapt strategies to meet these challenges head-on.
We are excited to have Josh Turnbull, VP of Card and Banking Strategy, and Craig LaChapelle, VP of Market Development at TransUnion, join us on the Banking Transformed podcast. They discuss the changing patterns in consumer credit management, the emergence of new user segments, and how financial institutions are innovating to meet evolving demands.
They also delve into successful market strategies, the impact of AI and new technologies, and the ongoing battle against fraud, offering valuable insights for financial institutions looking to stay ahead in this dynamic marketplace.
This episode of Banking Transformed is sponsored by TransUnion
As part of a global information and insights company, the TransUnion Card and Banking business supports over 5,000 financial institutions in the US — from the largest card issuers and retail banks to community-based institutions and technology-driven card issuers — providing actionable data and insights to help them better compete and succeed in an ever-changing environment.
Extra Credit: A Card and Banking Podcast by TransUnion -
We're excited to have JB Orecchia, CEO of SavvyMoney, joining us again on the Banking Transformed podcast to discuss their groundbreaking new product, Get My Rate. This innovative tool offers personalized loan pre-qualifications without impacting credit scores.
We discuss how this solution allows consumers to get pre-qualified for multiple loan offers simultaneously, receive ongoing alerts when rates change in their favor, and how consumers benefit from continuous credit monitoring and expanded financial wellness tools.
Finally, we discuss how generative AI is set to revolutionize credit solutions and financial well-being across the entire banking ecosystem. -
Personalized, real-time micro-engagements are more than just a trend – they're reshaping the future of banking. By leveraging technology to create meaningful, timely interactions, financial institutions can build stronger customer relationships, increase loyalty, and stay competitive in an ever-evolving digital landscape.
On today’s episode of Banking Transformed, we’re joined by two industry leaders: Sarah Martin, CEO of Pulsate, a company at the forefront of mobile engagement technology, and Eric Givens, SVP of Research and Development at Arizona Financial CU.
We discuss how real-time communication is not just about big data or complex algorithms, but about using new tools to create small, impactful moments that resonate with consumers on a personal level. Our guests also show how micro-engagements will continue to transform the banking experience, making it more human, more relevant, and more valuable for customers and financial institutions alike. -
In this episode of Banking Transformed, recorded at MeridianLink LIVE!, we sit down with Kate Himes, VP of Consumer Lending at Generations FCU, to discuss the modernization of their lending platform, emphasizing the importance of efficient processes, member-centric service and risk management.
She highlights their achievement of processing personal loans in under five minutes and explains how they leverage technology partners to streamline operations. Kate also addresses the challenges of implementing rapid changes and the importance of employee buy-in.
Finally, Himes shares how Generations FCU uses data analytics for engagement and their vision for future innovations in financial services.
This episode of Banking Transformed Solutions is sponsored by MeridianLink
MeridianLink® (NYSE: MLNK) powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink’s scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle.
MeridianLink enables customers to accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. Its partner marketplace supports hundreds of integrations for tailored innovation. For more than 20 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. Learn more at meridianlink.com. -
Today on the Banking Transformed podcast, we're exploring the ripple effects of the recent high interest rate environment on both consumers and financial institutions.
We're joined by Mark Leher, Director of Product Management at Alkami and Jim Perry, Senior Strategist at Market Insights who will unpack the insights from Alkami's comprehensive 2024 State of the Industry report. This report offers a data-driven look at how rising rates have transformed everything from housing and auto loans to deposit behaviors and emerging fintech trends.
Whether you're a banking professional, a financial advisor, or simply someone trying to make sense of your own finances, this discussion promises to shed light on the forces shaping our economic future.
This Episode of Banking Transformed is Sponsored by Alkami
Alkami’s Digital Sales & Service Maturity Model Assessment was developed to help banks and credit unions self-assess their digital maturity - and then take action on the results.
Take this 5 question assessment and compare your responses to benchmark data collected from hundreds of U.S. based regional and community institutions and determine just how digitally mature your FI is. Get your results now, and with it details to support you on your path forward.
Link to assessment tool: Sales and Service Digital Maturity Model Assessment -
As traditional credit scoring methods face increasing scrutiny and limitations, alternative credit data has emerged as a powerful tool for lenders looking to expand access to credit and drive profitability. In this special mini-series on the future of lending, sponsored by LoanPro, the Banking Transformed podcast is excited to welcome two industry leaders: Warren Hogarth, Co-Founder & CEO of Empower, and Colton Pond, Chief Marketing Officer at LoanPro.
Our guests explore examples of alternative credit data points, the evolution of underwriting processes, and the regulatory considerations surrounding the use of non-traditional data. Warren also discusses Empower's recent acquisition of Petal Card and the future of credit, while Colton offers insights into the shifting focus from debit to credit products in the fintech space.
This episode of Banking Transformed Solutions is sponsored by LoanPro
LoanPro is the leading modern lending and credit platform enabling lenders to innovate quicker, driving growth while optimizing efficiency. Over 600 lenders use LoanPro to enhance their borrower, agent, and back-office experiences. LoanPro’s mission of providing the platform to innovate the future of finance is enabled through its composable architecture, allowing lenders to enhance their origination, servicing, collections, and payments, all supported by a modern lending core.
https://www.loanpro.io/ -
In an industry where products and services often seem indistinguishable, financial institutions must differentiate themselves and create meaningful connections with their audiences. From leveraging cutting-edge marketing strategies to crafting unique brand narratives, banks and credit unions must create engagement by providing value each day.
On today’s episode of Banking Transformed, we'll explore the challenges and opportunities facing financial marketers today with Eric Fulwiler, a great friend who is the co-founder and CEO of the marketing consultancy, Rival.
Whether you're a seasoned financial services professional or a marketing enthusiast curious about this dynamic field, this episode promises to deliver valuable insights and actionable strategies. - Visa fler
