FEATURING: Nikhil Lele, principal for digital transformation at EY
According to a recent study from Ernst & Young, 37% of consumers now say a fintech firm is their most-trusted financial services brand, compared with 33% who name a bank as their most-trusted brand. More concerning is that among U.S. consumers, 31% name a fintech as their primary financial relationship, up from just 6% in 2019.
Much of this shift has been caused by the shift to digital providers, that deliver more targeted solutions faster and more seamlessly than traditional banks and credit unions.
Our guest is Nikhil Lele, the principal for digital transformation at EY. He discusses the shift in financial services loyalty and what banks and credit unions can do to defend relationships in a digital age.
The way we move money is changing. We want to send money in real-time — to the other side of the world. We want everything in one place, integrated, seamless and on our devices. Embedded, fast, standardized, frictionless and secure.
The Financial Futures podcast by FIS explores fintech innovation and the trends that are already transforming the way the world pays, banks and invests…across the globe.
More at Financial Futures by FIS
About the Banking Transformed Podcast
In each Banking Transformed podcast, host Jim Marous has candid conversations with the world’s foremost leaders on what it takes to transform financial institutions during an age of digital disruption. His guests discuss technology, channels, innovation, customer experience, leadership, culture and competitive forces that are changing the banking industry faster than ever before.
Named as one of the most influential people in banking, Jim Marous is an internationally recognized financial industry strategist, co-publisher of The Financial Brand and the owner and CEO of the Digital Banking Report. The Digital Banking Report is a subscription-based publication that provides deep insights into the digitization of banking, with over 150 reports in the digital archive available to subscribers.
As a sought after keynote speaker, author and recognized authority on disruption in the financial services industry, Marous has been featured by CNBC and CNN, Cheddar, The Wall Street Journal, New York Times, The Financial Times, The Economist, The American Banker and has spoken to audiences worldwide. Jim has also advised the White House on banking policy.