Turning Data Into Better Banking
Community banks and credit unions keep pace by putting their own data to work for customers.
Many community banks and credit unions already have the technology, data and insights they need, and are waiting too long to put them to work. That execution gap is what customers and members feel. Greg Adelson, President and CEO of Jack Henry, joins Jim Marous to explain why the technology gap with the largest banks is narrowing while the execution gap keeps getting wider, and what it takes for community institutions to keep pace.
Greg sees the institutions that end up acquired as the ones that waited too long or chose not to invest. The way forward starts with data. As Greg puts it, nobody has more data than a bank or a credit union, and the flow of funds shows where customers and members are moving money long before an account closes. He and Jim discuss turning that insight into a better experience, and why no provider can be the best at everything.
That makes partner choice critical. Institutions need partners that work openly with others and can help them deploy at speed and scale. On AI, Greg’s advice is to protect what community institutions were built on- service, relationship, and trust – by taking cost out of the back office and putting those savings into people on the front line. He closes on the opportunity he’d act on first: Gen Z.
About Banking Transformed: Hosted by Jim Marous, co-publisher of The Financial Brand and owner of the Digital Banking Report, Banking Transformed explores the people and ideas changing retail banking. New episodes multiple times each week.
