Are you prepared to embrace change, take risks and disrupt yourself in response to the digital disruption in banking? Hosted by top 5 banking and fintech influencer, Jim Marous, the Banking Transformed podcast highlights the major leadership and cultural challenges facing the banking industry today. Featuring interviews with some of the best minds in business worldwide, this Top 10 Podcast in Banking explores the impact of digital disruption on the industry’s future.
FEATURING: Tony Saldanha, President of Transformant & former VP, Global Business Services for Procter & Gamble.
February 18, 2020
Digital transformations have an exceeding high failure rate despite being one of the most important components of a firm’s long-term survival. Digital transformation requires must more than just a flashy mobile app or new technology.
To understand the dynamics of how to succeed with digital transformation, we are joined by Tony Saldanha, previous head of operations and digital transformation at Proctor and Gamble and currently the president of Transformant, a Cincinnati-based consulting firm focused on digital transformation.
As the author of the book, ‘Why Digital Transformations Fail‘, Tony shares his 5-stage framework that any company can follow to successfully navigate its own digital transformation. Tony discusses why the ultimate proof of an organization’s success at digital transformation is its cultural, not technical rewiring.
FEATURING: Charlene Li, Founder and Senior Fellow at Altimeter and Author of The Disruption Mindset
February 11, 2020
We have often discussed the correlation between innovation and digital transformation, and the positive impact on consumer satisfaction, investment in advanced technology, the presence of top management support and the positive impact on revenues. But, while technology may enable the disruption required, it is often the application of existing technology in new ways that disrupts an industry. In addition, it is those firms that build a business around ‘future customers’ that are best positioned for growth.
We are very fortunate to have Charlene Li on the Banking Transformed show. Charlene is the founder and senior fellow at Altimeter, a Prophet company. She is the author of six books, including the New York Times bestseller ‘Open Leadership‘, and co-author of the book ‘Goundswell‘. Her latest book, ‘The Disruption Mindset‘ is the culmination of years of research and experiences in the field helping leaders and organizations transform.
On this episode, you will learn the secret of successful disruption, the importance of deep-dive research, the qualities of a disruptive leader, how to change existing cultures and where to start.
FEATURING: Brett King, Bestselling author, radio host and founder of Moven
February 4, 2020
For part two of the discussion on my tour of China, I look into the debate about what region or city is the fintech capital of the world. Is the fintech capital London, New York, the Silicon Valley or elsewhere? Should the title go to the city with the most players, the greatest fintech investment or the largest number of users of challenger bank or bank challenger services?
My perspective on a possible candidate for the fintech capital definitely changed when I visited Shenzhen China recently. From the advancement of smart city technologies, to the deployment and use of digital technologies for payments, energy management, operational efficiency and even daily tasks like shopping and eating out, I have never experienced so many modern advancements than during my short week in China.
I am joined today by Brett King, author of many best selling books on the future of banking and the host of the number one fintech podcast, Breaking Banks. Brett and the president of Provoke Management, Jay Kemp, joined me for a VIP tour of Huawei Technologies. With a history steeped in manufacturing, Huawei now is the hub of new technologies that impact every Chinese citizen, from the phones they use to the services they use. They also are an example of how the combination of data, advanced analytics, digital technologies and a culture of innovation and R&D can propel a company into the future.
FEATURING: Matt Dooley and David Wallace
January 28, 2020
China is quickly becoming home to the largest fintech ecosystem in the world, benefiting from historically low use of traditional banking, high smartphone penetration, a changing demographic and a consumer acceptance of banking without traditional infrastructure. Dominated by giants like Baidu, Ant, PingAn and Tencent, combined with many highly successful start-ups like WeLab, the success in delivering both personalized financial services and an impressive level of financial inclusion is a model for the rest of the world.
This is not a story of disruption of legacy banking as much as a story of filling a previously unmet need for advanced financial services supported by smartphones.
To discuss how fintech firms have benefited from open access to data, and how the Chinese consumer benefits from value added services not available to most in the world, I am joined by my friend, Matt Dooley, founding board member of the Fintech Association of Hong Kong and founder of Connected Thinking Ltd. who guided a tour of Shenzhen for myself and the former global CEO of HeathWallace, Dave Wallace.
FEATURING: Alan Trefler, Founder and CEO of Pega
January 21, 2020
The Digital Banking Report has just released a report on digital transformation in the banking industry entitled, The State of Digital Banking Transformation. This research, sponsored by Pega, not only looks at the digital transformation maturity of banking today, but also the components of digital transformation leader organizations.
The research found that there is still more hype than reality when we look at the progress of digital transformation in banking. While the focus in on improving the customer experience, few organizations have leveraged intelligent technologies to deliver on this mission.
To discuss this research report and the implications of the findings, I am joined by Alan Trefler, Founder and CEO of Pega. Alan not only provides his perspective on where the industry is from a technology perspective, but also discusses the challenges of embracing new business models, finding the right talent, changing internal cultures and creating customer engagement.
FEATURING: Gerald (Jerry) Kane, visiting scholar at the Harvard Business School and professor at the Boston College Carroll School of Management
January 14, 2020
Digital technologies are disrupting organizations of all sizes, leaving leadership scrambling to find the right technologies to keep pace with market demands. Unfortunately, simply buying the best or newest technology will not create digital transformation success by itself.
Beyond technology, it is imperative to implement the right organizational changes that can harness the power of the new technologies. In other words, digital disruption is primarily about people, organizational dynamics and culture.
Today’s podcast features Gerald (Jerry) Kane from Boston College. Jerry is one of the 4 authors of the exceptional book, ‘The Technology Fallacy’. This book draws on 4 years of research between MIT Sloan Management Review and Deloitte that surveyed 16,000 people and included interviews with companies like Walmart, Google, Salesforce and several other top brands.
Kane emphasizes that every organization needs to understand its “digital DNA” in order to stop “doing digital” and start “being digital.” He proposes that the best way to respond to digital disruption is by changing the company culture to be more agile, risk tolerant, and experimental.
FEATURING: Kevin Travis, Executive Vice President of Novantas
January 7, 2020
Should an existing financial services organization attempt to transform their current institution into a more agile, responsive organization with a completely new digital foundation, or should banks and credit unions consider building an entirely new organization outside the parent company?
The ability to compete in the future will require new systems, new processes and a new culture. One option is to build a successor bank that would be a network of only a few branches or a completely branchless offering separate from the legacy organization. Even if a bank or credit union decides to ‘stay the course’, the future will require differentiation defined by customer experience and innovative offerings similar to what is being offered by fintech and big tech organizations.
To get a perspective on the need to disrupt current distribution paradigms, I interviewed Kevin Travis, EVP of Novantas’ financial services consultancy. Kevin discusses distribution alternatives for the financial services industry and the cost of inaction by the industry.
FEATURING: Blake Morgan, Keynote Speaker, Bestselling Author and Futurist
December 31, 2019
Consumers insist on experiences that are personalized, friction-free and that make their lives easier. It’s no longer enough for organizations to state they are making improved customer experiences a priority. The consumer needs to feel that the companies they buy from know them, look out for them and are willing to reward them.
To get a perspective on how advanced technologies are impacting customer experience strategies, I am fortunate to be joined by Blake Morgan, author of the new book, “The Customer of the Future”. Blake is considered one of the leading authorities on the changes occurring in the world of customer experience. She has worked with some of the most prominent global brands and is a contributor to Forbes and the Harvard Business Review. She is also the host of the podcast, The Modern Customer.
FEATURING: Ron Shevlin, Director of Research at Cornerstone Advisors
December 24, 2019
Automation and digital technology aimed at improving financial services continues to impact the banking ecosystem. From mobile payments to digital lending and budgeting services, fintech and big tech providers are revolutionizing how consumers and businesses handle manage their financial relationships.
To get a perspective on the past and future of fintech applications and their impact on traditional banking, I am joined today by my very good friend, Ron Shevlin. Ron is not only one of the foremost authorities on what is happening in the banking industry, he is also a personal mentor and one of the people who was most responsible for my professional transformation a decade ago.
Ron is the Managing Director of Fintech Research at Cornerstone Advisors, author of the book Smarter Bank and senior contributor on Forbes with his weekly Fintech Snark Tank articles. Ron is ranked among the top fintech influencers globally, and is a frequent keynote speaker at banking and fintech industry events.
FEATURING: Dan Rosen, Founder and DEO of Commerce Ventures
December 17, 2019
After a record-breaking 2018, fintech investment activity continues strong in 2019, as new start-ups take aim at traditional banks and credit unions that are slow to update back offices, change outdated business models, embrace advanced analytics and keep up with consumer expectations.
For a perspective on the changing fintech investment marketplace, we are joined by Dan Rosen, Founder and General Partner of Commerce Ventures, a VC firm focused on fintech, payments and commerce ecosystems. We discuss the continued growth in funding by venture capital investors, private equity firms and even traditional banks interested in the newest technologies in payments, banking and wealth management.
FEATURING: Janine Sneed, Chief Digital Officer, VP of Customer Success IBM
December 10, 2019
Buying the right technology solution is only the beginning of the digital transformation journey. Organizations need onboarding support from solution providers to ensure the intended benefits of new technologies are realized. This entails looking beyond the technology, to include the vast human and cultural aspects of digital transformation.
In this episode, we discuss how businesses can optimize the outcomes of their digital initiatives with the support of a customer success management process. For a perspective on customer success strategies, I’m joined by Janine Sneed, Chief Digital Officer and VP of Customer Success at IBM. Janine shares how she has build a Customer Success Organization at IBM and how she has brought together multiple functions at IBM to help clients succeed.
Janine also discusses her role in promoting internal career support for women and minorities at IBM, and how diversity in the workplace can become an organizational priority.
FEATURING: Chris Skinner, CEO of The Finanser, author, global speaker
December 3, 2019
Digital transformation in banking cannot occur without rewiring back-office processes, including streamlining operations and integrating data sets. But the most important transformation that must occur is with the culture and leadership at traditional financial institutions.
A digital culture is customer-centric, with latitude given for employees to make decisions on behalf of the customer. A digital culture also supports creativity and innovation — again, on behalf of the customer.
To get a great perspective on how legacy banks must disrupt themselves, we spoke to Chris Skinner, best-selling author and one of the most sought after and respected financial services influencers. Chris discusses his recent research into the traditional financial institutions that are setting the pace for others to follow.
FEATURING: Sophie Heller, Group Chief Operating Officer for Retail Banking at BNP Paribas
November 26, 2019
Organizations in all industries need a new operating model that puts the customer’s needs at the center of all digital transformation strategies. This can be achieved by redesigned customer journeys, new products and services, and the agile delivery of insights and contextual solutions across channels.
To better understand how legacy financial institutions can better position themselves against digital pure play organizations such as Google, Amazon, Facebook, Apple and Alibaba, I sat down with Sophie Heller, Group Chief Operating Officer for Retail Banking at BNP Paribas. Sophie discusses the critical elements required to launch an integrated operating model organized around end-to-end experiences in an open banking environment.
FEATURING: Alex Kreger and Monika Cālīte from financial services design agency, UXDA
November 19, 2019
Digital transformation is a challenge for organizations due to legacy infrastructure, internal silos, lack of a clear vision and resistance to change. Design thinking can help firms overcome many of these challenges, accelerating the transformation timeline. Done well, design thinking is a consumer-centric collaborative effort that can drive change internally and externally.
In this episode, we sat down with Alex Kreger and Monika Cālīte from the financial services customer experience design agency, UXDA to discuss how organizations can use design thinking and applied insights to improve internal processes, develop better products and services, maximize the impact of content and enhance the digital consumer experience.
FEATURING: Brian Roemmele, voice-first expert and president of Multiplex
November 12, 2019
The power of voice-based interactions has grown exponentially with the addition of always-on systems, combined with advanced analytics (AI), cloud-based computing and optimized multichannel delivery of insights. The voice-first paradigm will move beyond providing answers to questions – using data and insights to proactively provide insights and guidance that will simplify life for consumers.
In a voice-first world, advertising, commerce, payments and interacting with others around us will change dramatically. To get a perspective on the future of voice, we reached out to Brian Roemmele to discuss his vision of a highly personalized AI assistant that will keep data secure, while connecting to the outside world on an as needed basis to simplify a consumer’s daily interactions.
FEATURING: Steve Wozniak, Apple Co-Founder, entrepreneur, philanthropist
November 7, 2019
A Silicon Valley icon and philanthropist, Steve Wozniak helped shape the computing industry by co-founding Apple Computer with Steve Jobs in 1976. Since leaving Apple in 1985, Wozniak has been involved in various business and philanthropic ventures, focusing primarily on computer and technology education.
I had the unique opportunity to sit down with ‘The Woz’ as part of the Novathon innovation event in Budapest last week. The event, presented by the Italian bank, Instesa Sanpaolo featured Wozniak as well as other industry speakers including myself discussing digital transformation, innovation and competition in banking. In our interview, Steve discusses his personal life, his focus on education, recommendations for entrepreneurs, the state of innovation and his memories of Steve Jobs.
FEATURING: Brian Solis, Digital analyst, author, keynote speakers
November 5, 2019
Digital disruption is impacting today’s worker more than ever, with sociologists believing that today’s worker will need to ‘reinvent themselves’ several times during a career in the future. While maintaining the status quo provides a temporary comfort zone, personal disruption can dramatically improve chances of finding financial, social, and emotional success. This personal transformation requires a new perspective.
In this episode, we discuss the importance of personal and professional growth with Brian Solis, digital anthropologist, global speaker and author of the new book, ‘Lifescale: How to Live a More Creative, Productive and Happy Life‘. Brian discusses his scientific findings, and provides insights that can help any person dissect where they are today, what could be holding them back, and how to be better positioned for long-term success and satisfaction.
FEATURING: Mike Walsh, Futurist, speaker and author of the book, The Algorithmic Leader
October 29, 2019
Digital transformation is much more than just new technologies. Leadership and cultural changes are required to respond to a new business paradigm. How can leaders make better decisions at a time of digital disruption … embracing change, taking risks and leveraging technology in partnership with humans for a better consumer experience?
In this episode, Mike Walsh provides insights on how to survive and win during a time of digital transformation. His ability to synthesize the core principles of personal transformation that are needed for the future are both exciting and a bit unnerving. Referencing his newest book, The Algorithmic Leader, Mike discusses the keys to algorithmic leadership, cultural change and the future of work.
FEATURING: Kris Kovacs, President and CEO at Constellation Digital Partners, LLC.
October 22, 2019