Digital Banking Podcast

In this episode of the Digital Banking Podcast, guest Ning Duong, Chief Operating Office of Credit Union West and host Josh DeTar discuss the progressive approach of Credit Union West towards empowering next-generation leadership and prioritizing employee well-being. The discussion revolves around the organization's commitment to nurturing next-generation leaders by prioritizing empathy, flexibility, and support, moving away from traditional leadership models to create positive employee experiences. Integral to their strategy is the continuous journey of Diversity, Equity, and Inclusion (DEI), showcased by investments in education and certification for leadership. This dedication fosters an inclusive culture that enhances engagement and productivity. Moreover, Credit Union West emphasizes the integration of life and work to promote employee well-being, recognizing the importance of a human-centered approach to meet evolving workforce expectations. Overall, their holistic approach aims to cultivate loyalty, satisfaction, and productivity in the workplace.

 The conversation also touched on the challenges and opportunities presented by digital transformation in the banking sector. Duong emphasized the role of leadership in driving change and the need for organizations to adapt to meet the changing expectations of consumers. They discussed practical examples of digital initiatives undertaken by Credit Union West and their impact on both the institution and its members.

 Lastly, the podcast explored the future of digital banking, with Duong providing his perspective on emerging trends and how Credit Union West plans to leverage technology to further its mission. The discussion was informative, offering listeners valuable lessons on innovation and adaptation in the financial industry.

In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Sanjib Kalita, the Head of Industry for Fintech Meetup, an annual conference that brings together fintechs at all stages of development and financial institutions from across North America and beyond. Kalita shared his extensive experience in the fintech industry, discussing the dynamic interplay between technology and financial services. He reflected on his journey from working at Intel to his current role, highlighting the technological advancements that have reshaped the banking sector.

Kalita offered insights into the evolution of digital banking, emphasizing the importance of collaboration and innovation in the industry. He touched upon the challenges and opportunities that have emerged with the digital transformation of financial services. Sanjib's expertise provided a unique perspective on the future of banking.

The conversation also delved into the impact of fintech on consumer experiences and the importance of adapting to changing consumer needs. Kalita 's vision for a more interconnected and efficient banking ecosystem underscores the transformative power of fintech in the modern world.

In this insightful episode of The Digital Banking Podcast, host Josh DeTar welcomed Bill Kennedy, an experienced credit union executive currently at 4Front Credit Union. Kennedy, with over 35 years in the credit union sector, shared his unique journey in the industry. Starting out as a talented golfer hired by a bank to win tournaments, he accidentally discovered his path in credit unions. 

The discussion went beyond Kennedy's career trajectory. He delved into the importance of networking and personal connections in the evolving landscape of digital in banking. His approach emphasizes that while technology is transforming the industry, the value of human relationships remains paramount.

This episode also highlights Kennedy's dedication to mentorship. Having mentored over 200 individuals, he stressed the significance of nurturing the next generation of leaders. His experiences, from golfing connections to leadership roles, offer a profound perspective on the banking industry's dynamic nature and the enduring impact of personal mentorship.

In the latest episode of The Digital Banking Podcast, host Josh DeTar welcomed Dr. Siva Narendra, CEO and co-founder of Tyfone. The episode centered around the digital transformation thought leader Dr. Narendra’s look back on 2023’s biggest moments in banking and technology, and his predictions for 2024 and beyond. DeTar and Narendra discussed the intersections of technology and empathy in banking. His background as a pocket-protector-wearing geek as well as a patent-authoring innovator was highlighted, underscoring his technical and emotional intelligence.

The conversation dived deep into the future of digital banking, emphasizing the crucial role of community financial institutions. Narendra elaborated on the transformative potential of digital tools and technology, particularly for smaller, community-focused institutions. The importance of adapting to digital efficiencies while maintaining a personal touch in banking was also discussed.

Finally, Narendra addressed the broader implications of technological advancement in banking. He reflected on the significant changes and challenges the industry faces, from the advent of digital banking platforms to the evolving landscape of customer needs and expectations. The episode encapsulated Narendra's forward-thinking approach and deep commitment to innovation and empathy in the financial sector.

In this episode of The Digital Banking Podcast, host Josh DeTar welcomes James Burke-Frazier from Jack Henry, highlighting his genuine passion for credit unions and service. Burke-Frazier, affectionately known as JBF, is celebrated for his authenticity and dedication to finding solutions that align with the core mission of credit unions. His approach to service drives him to seek out the perfect blend of innovation and practicality in the financial sector.

Despite not having a background in technology, JBF's accidental love for tech blossomed from his original intention to teach. This pivot reflects his innate desire to help others grow, a trait that shines through in his personal and professional relationships. His nearly three-decade-long marriage is a testament to the depth of his commitment and the sincerity of his interactions.

The conversation explored the importance of in-person connections, especially in a post-pandemic world. Both DeTar and Burke-Frazier shared their experiences of recharging their professional enthusiasm through face-to-face interactions at conferences and on the road. They discussed the unique energy and inspiration that come from engaging with passionate individuals, underscoring the value of personal contact in driving innovation within the digital banking industry.

In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Sarah Howell, the Head of Partnerships for Infinant. The discussion began on a heartfelt note, addressing the devastating fires in Lahaina and their impact on Sarah's family. The Hawaiian community's resilience and the overwhelming support they received from various quarters, including the banking sector, were discussed.

Transitioning to the core topic, Howell dove into the evolving landscape of the banking industry, particularly focusing on banking as a service (BaaS) and embedded finance. She defined embedded finance as the integration of financial products into digital, non-financial platforms, while BaaS is the methodology behind this integration.

Howell closed by emphasizing the significance of the ongoing digital disruption in banking. She presented an intriguing perspective, describing the current landscape as a disruption in the traditional supply chain of financial services.

In this enlightening episode of The Digital Banking Podcast, host Josh DeTar engaged in a thought-provoking conversation with Uku Tomikas, a leading expert in the field of financial fraud prevention. They examined the ever-evolving landscape of financial fraud, exploring the ingenious tactics employed by fraudsters in today's digital age. Tomikas shed light on the alarming rise of deepfake technology, which allows scammers to create convincing video impersonations of loved ones or acquaintances to deceive individuals into sharing sensitive information.

The discussion went on to emphasize the crucial role that technology plays in both facilitating and mitigating fraud. Tomikas highlighted the need for continuous technological innovation to stay ahead of fraudsters while underlining the importance of user education in recognizing and thwarting scams. He emphasized that staying informed and vigilant can significantly reduce one's vulnerability to financial fraud, especially as criminals become increasingly sophisticated.

Throughout the conversation, Tomikas’ insights provided valuable perspectives on how financial institutions and individuals can protect themselves against the growing threat of fraud in an ever-changing digital landscape. This episode serves as a wake-up call to the risks we face and offers practical advice on safeguarding our finances and personal information.

In this insightful episode of The Digital Banking Podcast, host Josh DeTar engaged in a thought-provoking conversation with David Dindi, founder of Atomic Invest. The discussion revolved around the intersection of finance and technology, highlighting the potential for financial institutions, particularly community ones, to create meaningful change in people's lives. Dindi passionately emphasized the role of finance in breaking the cycle of poverty and promoting financial independence, and how community institutions can play a pivotal role in this endeavor.

The conversation explored the evolving landscape of financial services, emphasizing the need for community financial institutions to adapt to changing consumer preferences and expectations. DeTar and Dindi discussed the concept of generational wealth transfer and how financial institutions can bridge the gap between generations to maintain relevance and foster long-term relationships. Dindi's perspective on offering tailored financial solutions to diverse customer segments, from teenagers to retirees, added depth to the discussion.

Throughout the episode, Dindi's vision shone, advocating for an industry that not only generates revenue but also empowers individuals to achieve financial freedom. This thought-provoking conversation is a must-listen for anyone interested in the evolving world of finance, the role of technology, and the noble mission of community financial institutions.

In this episode of the Digital Banking Podcast, Josh DeTar sits down with Jin Gwak from AmeriCU Credit Union to dive into the intricacies of modern banking. They discuss the importance of understanding different perspectives within an organization, emphasizing the need for business analysts and committees to bridge various business units. This ensures everyone is on the same page, fostering a cohesive approach to challenges.

Jin highlights the significance of humility and empathy in leadership. She believes in meeting people where they are, understanding that while some may think technologically, others might lean towards business. This balance is crucial in ensuring effective communication and problem-solving within the institution.

Lastly, the conversation touches on the acceptance of failure. Jin stresses that aiming for absolute perfection can be paralyzing. Instead, setting clear milestones and understanding that unforeseen challenges will arise is key. The focus should be on learning, adapting, and moving forward.

In this episode of The Digital Banking Podcast, host Josh DeTar sat down with Ryan Canin, CEO of DocFox, to explore the multifaceted world of technology, empathy, and innovation in the banking industry. They discussed the impact of COVID-19 on client relationships, emphasizing the newfound intimacy and connection through virtual meetings. Canin shared insights into breaking down barriers and the importance of open dialogue in the workplace.

The conversation took a deeper dive into the challenges of leadership and the courage to pursue big ideas. Canin reflected on his personal experiences and the complexities of diversity and inclusion within the tech space. He emphasized the need for empathy and openness to make progress in these areas.

Finally, they touched on the success stories and the transformation of traditional banking culture. The episode concluded with a candid discussion of personal and professional growth, weaving together themes of life, business, and work.

In this episode of the Digital Banking Podcast, host Josh DeTar sits down with Steven Ramirez, CEO at Beyond the Arc, to discuss the future of banking in a rapidly evolving digital landscape.

The conversation kicks off with a reflection on the traditional banking model, which was largely one-size-fits-all. Steven highlights how digital innovation has disrupted this model, creating a demand for more tailored, intuitive experiences akin to those we see in the retail and entertainment sectors. The challenge for the banking industry is to meet these evolving expectations.

The discussion then shifts to the rise of the gig economy and its implications for banking. Steven and Josh explore how traditional banking models struggle to accommodate the financial needs of gig workers, who often don't fit neatly into existing categories. They discuss the need for financial institutions to adapt and innovate, using data-driven decision-making to better serve these emerging customer segments.

Finally, they touch on the competitive threat posed by big tech companies like Apple, which are encroaching on the banking space with seamless digital experiences and attractive offerings. The episode concludes with a call to action for banks to embrace change and maintain relevance in the face of these challenges.

In this episode of The Digital Banking Podcast, host Josh DeTar spoke with Troy Stang, the president and CEO of GoWest Credit Union Association. The takeaway from this conversation is that credit unions need to work hard to change in some ways and work hard to stay the same in other ways.

Not surprisingly, Stang called on credit unions to embrace digital transformation. Staying at the forefront of financial technology is paramount for any credit union that hopes to survive in the years ahead.

However, the credit union movement was built on the cooperative model, a model that demands credit unions know and understand the unique needs and challenges of their member. A model that demands each credit union knows and understands what makes its members different from the members at every other credit union. A model that demands all credit unions bring that personalized, high-touch feel to the world of digital finance.

As Stang and DeTar make clear, this is what makes credit unions credit unions.

In this insightful episode of Digital Banking Podcast, Josh DeTar sits down with Mike Lawson, host of CUBroadcast, to delve into the evolving landscape of credit unions. Lawson shares his unique perspective on the industry, highlighting the importance of data analytics in shaping personalized services. He emphasizes that understanding members on an individual level is now more achievable and crucial than ever.

The conversation then shifts to the topic of leadership. Lawson discusses the changing dynamics as established CEOs retire, making way for a new generation of leaders with fresh outlooks. He expresses his fascination with how these new leaders are navigating their roles, keeping their credit unions successful and moving forward.

Lastly, Lawson provides his predictions for the year ahead. He identifies key areas of focus such as the economy, artificial intelligence, and liquidity. He also touches on the continued transfer of leadership and its impact on the industry. This episode offers a comprehensive look at the current state and future of credit unions.

The third annual CU Build event was held in Dallas July 28-30, 2023. CU Build is a buildathon (sometimes called a hackathon) for credit unions running Jack Henry’s Symitar core processing platform, as well as invited vendor partners. The event is 100% credit union organized.

Prior to the event, Digital Banking Podcast host Josh DeTar had the opportunity to chat with Brad Hickey about the then upcoming event. Hickey is the founder of CU Build, as well as the Manager of Application Development at American Airlines Federal Credit Union. In that discussion, Hickey discussed the how and the why of CU Build, laying out a blueprint that other credit unions can follow to leverage the cooperative credit union spirit and drive credit union technology forward.

Given Hickey’s passion for innovation, it’s not surprising that the conversation went on to examine a wide range of topics, including artificial intelligence and what it could mean to education, the promises and reality of decentralized finance (DeFi), and the fact that most high-performing technologists are driven by more than just a good paycheck.

Every organization on the planet is intent on creating a great user experience – the best possible combination of clicks and swipes to make the task at hand as frictionless as possible. However, as technologies like ChatGPT continue to develop, “clicks and swipes” will end up at some fintech museum right next to a 1200-baud modem. Instead, consumers will converse in natural language with virtually everything around them. Instead of a bunch of individual user experiences, consumers will be able to enjoy a unified digital life experience.

In this episode of The Digital Banking Podcast, our Josh DeTar welcomed Mason Stone, the Director of National Sales at Paymentus. Stone and DeTar discussed why it's efficient to use technology like a smart home network. They also discussed bill payments and the significance of ChatGPT. 

To remain competitive in today’s digital world, community FIs must be nimble. But being nimble isn’t enough if a legacy technology stack creates more obstacles than opportunities. Modernization is imperative, but many FIs lack the tools and the in-house expertise to move the FI forward on the best possible course.

In this episode of The Digital Banking Podcast, Tim Hamilton, the founder, and CEO of Praxent, explained how community FIs should modernize applications to remain relevant against pure-play digital competitors. Hamilton and host Josh DeTar discussed embedded finance, sponsor banking, and how FIs can decide whether to build, buy, or partner.

More and more organizations are committing to diversity, equity, and inclusion (DEI) policies and practices to build a more diverse and just workplace. This is even more important for financial institutions in their outreach to the communities they serve.

In this episode of The Digital Banking Podcast, Shannan Herbert, the EVP of Inclusive Credit at Stratyfy, explained what DEI means and how to implement it in your organization. She and host Josh DeTar discussed how to improve DEI in an organization, root out bias, and how technology can help with that.

Digital transformation is a cultural shift more than it is a technological shift. It’s not about the tools; it’s about how the people within your organization use those tools. It’s about creating a culture of constant change and improvement. 

In this episode of The Digital Banking Podcast, Jay Tkachuk, Chief Digital Officer at Golden 1 Credit Union, explained the digital transformation process. He and host Josh DeTar discussed why digital transformation should come top-down and from the inside out, how the pandemic profoundly changed our society, and how a community FI can be relevant in a time of need.

It seems so simple. Follow a budget. Don’t run up your credit cards. Keep an eye on your credit score. Most importantly, consider the long-term consequences of every financial decision. It’s a recipe for financial success. And yet, most Americans struggle with their finances.

In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Sid Ratkiewicz, a behavioral researcher at the Center for Advanced Hindsight at Duke University, and Matt Iverson-Comelo, CEO and Founder of Moneymap. The three of them discussed the importance of financial education and literacy, the consequences of the lack of financial knowledge, and how community financial institutions can be most helpful. 

In this episode of The Digital Banking Podcast, host Josh DeTar and Austin Adams, retired CIO at JP Morgan Chase, discussed why empathy is more important than feature functionality when community FIs try to take on the megabanks. Adams also shared a little of his knowledge and expertise in driving innovation and superior customer experience in a complex and ever-changing environment.

In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Ashish Garg, the founder and CEO of Eltropy. They talked about the importance of community financial institutions in underserved communities, how community FIs can find their niche, and why technology is a powerful ally for financial institutions.

In this crowded marketplace, how can a community financial institution possibly differentiate itself? Better technology is table stakes, because as soon as you add the latest shiny object to your tech stack, every other FI in town will add it, too. In the end, differentiation can only come from better ideas.

In this episode of The Digital Banking Podcast, our Josh DeTar welcomed Aaron Wollner, the CMO of Quontic Bank, which is the best online bank according to Forbes. Wollner discussed the importance of authenticity for a brand to resonate and explained the concept of non-monogamous banking. The two discussed the importance of digital transformation, how Quontic adapts to macroeconomic changes, and the one question you must constantly ask.

Community financial institutions are no longer competing with just each other. In an increasingly all-digital world, they’re competing with every other app and service that facilitates some sort of financial transaction. If these institutions don’t innovate to stay ahead of the curve, they risk losing relevance – especially with younger generations.

In this episode of the The Digital Banking Podcast, host Josh DeTar welcomed Benjamin Maxim, Chief of Digital Strategy & Innovation at Michigan State University Federal Credit Union (MSUFCU). Ben explained why community financial institutions must innovate and what the process of adopting new ideas looks like. The two also discussed how these institutions can use vendors and their offerings; how they decide whether to build, buy, or partner; and how they select partners.

Collaboration and cooperation in the face of competition. It’s a concept that both financial institutions and fintechs must embrace to survive. In this episode of The Digital Banking Podcast, host Josh DeTar was joined by Danny Payne of Jack Henry. The two discussed how competing fintechs can share a common forum and learn from each other to meet their users' specific needs.

Payne and DeTar also discussed digital transformation and the challenges community financial institutions face in approaching it. Payne explained why community FIs suffer from “conversion aversion” and how they can overcome it. 

It’s easy to think of banking as a numbers industry. After all, that’s what a dollar is: a numerical representation of buying power. However, as our guest in this episode of The Digital Banking Podcast made clear, banking is really a people industry. It’s people working at financial institutions helping the people who bank there to better their financial lives.

In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Kareem Refaay, the managing director of The London Institute of Banking & Finance. Refaay explored the similarities and differences between banking and finance in Europe and the U.S. He and DeTar discussed digital transformation, financial inclusion, and why problems with managing money should be defined as a disease.

The reason it’s so hard to define digital transformation is because it means – or should mean – something different to every financial institution. In other words, the finish line may be the same for everyone, but the starting line will always be different. Sometimes simply adding a new layer of technology will work. Other times, you’ll need to step back and consider completely reengineering a process based on the availability of new technology. The key is to always be mindful of your accountholders’ needs and focus on creating the best possible experience for them.

In this episode of The Digital Banking Podcast, Blip Labs CEO Michael Bank explained what digital transformation in banking should look like. Bank and host Josh DeTar discussed the idea of having an aggregated financial picture, new ideas and expectations of the "younger guard," and why automation is so important. 

There are many ways for financial institutions to communicate with their accountholders in the digital age. With so many options, it’s easy mistake quantity for quality. Effective communication is still a matter of listening mindfully to the people you serve and intelligently providing them with the information that’s pertinent to them. The only thing that’s changed is how that’s accomplished.

In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Gregg Hammerman, the CEO of Larky. The two discussed the banking world and the challenges digital transformation has brought to financial institutions. They talked about sales as a service, how to communicate with customers in the right way, and how to choose a communication channel.

During his 30+ years marketing technology of all sorts, Don MacDonald worked for Intel, Qualcomm, Fiserv, and MX. As a result, the insights he shared on this episode of The Digital Banking Podcast are beyond valuable as they help banking professionals mitigate fear and embrace change. 

MacDonald shared Andy Grove's philosophy and how it shaped his thinking, the lessons he learned from bees and believes could benefit everyone, and how taking the customer-first approach and providing a personalized experience while leveraging technology and data is the future of FIs.

Do financial institutions still need branches? Is digital transformation more of a cultural shift than a technological shift? According to one industry insider, the answer to both questions is no.

In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Ron Shevlin, the Chief Research Officer at Cornerstone Advisors. Shevlin and DeTar explored the world of fintech and tech trends in banking. They also discussed the digital transformation of FIs and what's going on in banking in this context.

In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Brett Wooden, the SVP of Innovation at FTSI. They talked about the benefits of integrating AI into banking technology, the importance of thinking outside the box, and why you need to create a seamless and convenient digital experience for your accountholders. 

Fintechs are no longer the enemy. They’re gradually moving into the role of trusted technology partner. The sooner you recognize and accept that, the better off your financial institution will be.

In this episode of The Digital Banking Podcast, ASA founder Landon Glenn and host Josh DeTar discussed digital transformation and the vast number of fintech launches in recent years. They discuss the danger these companies present to traditional FIs, but also the challenges fintechs face when coming to the market.  

Glenn also explained the terms open banking and collaborative banking, and shared how they benefit traditional FIs and fintechs alike. Finally, he explained why creating opportunities for all is the right path forward in the finance space. 

Opinions are like … well, you know the saying. And that’s all customer feedback is – opinions. Some feedback is downright transformative, other feed back not so much. However, because it comes from your customers, you must respond to all of it in some measure. The trick is determining the appropriate response for any given feedback. You can’t overreact, but you can’t underreact, either.

In this episode of the Digital Banking Podcast, host Josh DeTar welcomed Catherine Ordeman, Head of Banking Partnerships at fintech Mercury. They discussed the importance of customer feedback, how to identify your customers' pain points, and why you need to differentiate relevant feedback from irrelevant feedback.

Traditionally, it’s always been your employees who are responsible for the “front line.” In the wake of digital transformation, has technology taken over responsibility for the front line? The short answer is no. Technology is just a new tool that can help your employees better serve your accountholders. Thus, your employees must be well-versed in the use of that technology.

In this episode of The Digital Banking Podcast, host Josh DeTar was joined by John Findlay, the CEO of LemonadeLXP. The two discussed the importance of digital transformation in the modern-day finance space, why certain financial institutions develop defense mechanisms against this change, and the ways to overcome them. Findlay also talked about gamification and how it impacts employee training, helps companies increase engagement and makes their employees successful digital ambassadors.

Each new voice on The Digital Banking Podcast brings with it a fresh perspective that adds to the conversation, and this installment is no different. 

In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Dan Black, Strategic Partnerships and Accounts at Boost.ai. The two discussed open banking and the age of conversational AI. They also covered the conversion to digital banking, ways of communicating with users, and the evolution of fraud in financial services.

Are fintechs your financial institution’s enemy or its savior. Or something in between. The correct answer is, all of the above.  

In this episode of the Digital Banking Podcast, host Josh DeTar welcomed Don Shafer, the co-founder and chief evangelist at Quilo. Among other things, the two discussed how fintechs generally fall into one of three different “buckets.” They also looked at people's expectations from banking and tech, as well as why you shouldn’t close your branches.

Think you understand cryptocurrency? More important, do you understand what it means to your community financial institution? Probably not as well as this episode’s guest, Lou Grilli, Sr. Innovation Specialist at PSCU. Host Josh DeTar dug deep as Grilli explained crypto and shared how it will revolutionize financial services. 

The core philosophy of credit unions is people helping people and enabling underbanked communities that don't have access to traditional financial institutions. While technology can play an important role in effectively reaching those communities, there will inevitably be some members of the community that don’t have access to modern technology. Therein lies the rub. 

In this episode of Digital Banking Podcast, Kristi Kenworthy, Managing Director of Dora Financial, a CUSO of credit union USALLIANCE Financial, joined host Josh DeTar to discuss the present and future of the credit union industry. She introduced Dora and shared its origin story, vision, and mission. 

When asked about whether credit unions are following the core philosophy (as mentioned earlier), Kristi said, ''Do credit unions do a good job? Absolutely. They do a great job trying to serve people of modest means who might shun mainstream financial products and services. But could Dora be a solution that would help you do an even better job? If there are still 50 million unbanked Americans, we have to do a lot of work to try to serve that market and bring them into the credit union industry.''

George Estrada, Principal Strategic Advisor for Credit Unions at AWS, emphasizes that listening to the needs of your accountholders and community members is very important to retain them. In this episode of the Digital Banking Podcast, Estrada and host Josh DeTar considered the relationship between a credit union (CU) and its members. They discussed the importance of user experience, the positive impact of innovative external sources, and how to develop a data strategy that protects your data as a CU.

It’s a constant balancing act for community financial institutions. If you use all your software ”out of the box,” you risk looking just like everybody else. If you customize your environment too heavily, you can end up with a support nightmare that none of your vendors can help with.

In this episode of Digital Banking Podcast, host Josh DeTar welcomed Bill Kinnelly, the CEO of KGA Advisory, LLC. They discussed the pitfalls of being on a customization island, the potential problems with development, and the positives and negatives of an SDK (software development kit) approach.

No two community financial institutions are the same, so of course, no two FI technology environments are the same. Every financial technologist wants to create a user experience that’s perfect for their FI’s accountholders, not one that’s perfect for the FI down the street. Customization is one option. But whether you have your vendor do the customization or do it all in-house, customization has risks. It adds cost and it adds complexity, both up front and over time. Are the risks worth the rewards. No two financial institutions will have the exact same answer to that question either.

Change is difficult for everyone – for some more than others. Communication – whether to employees or account holders – can make change much more palatable.

In this episode of the Digital Banking Podcast, Melissa Kopp got into the need for communication in the corporate world and pointed out the importance of fintech for increasing an FI’s speed to market. She and host Josh DeTar discussed changes in consumer payments, the risks of this process, and fintech's role in all of this.

In this episode of the Digital Banking Podcast, host Josh DeTar welcomed Sabeh Samaha, President and CEO of Samaha & Associates. They chatted about what Samaha called “the speed of impulse,” the importance of functionality, beauty, and hospitality in banking, and the future of banking in the metaverse.

A successful product is unique, or at least arguably better than its competitors. However, that in itself is not enough to guarantee success.  And a seamless, frictionless, transparent user experience is table stakes today. To win big, you need to humanize the experience and introduce human elements into your product.

In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Sarah Sprague Gerber, the Director of Product at MoneyLion. They talked about building trust through an error-free experience, why product gamification works, and the importance of vulnerability and transparency.

Tom Shen boasts a long and fabled career in financial technology spanning some 40 years. Some of the companies he’s been associated with, like Software Dynamics and S1, are long forgotten. Others like Digital Insight and Maluzai Software are still fresh in our memories. Today Shen is on the board of two financial technology rising stars: Sensibill and Zsuite Technologies. In short, he can back up his opinions with plenty of experience. 

In this episode of The Digital Banking Podcast, Shen discussed his personal and professional journey, as well as his perceptions of the market and digital banking with host Josh DeTar. The two also addressed the importance of humanizing the banking experience and hyper-personalization in FIs. They also tackled digital platforms' shiny objects and the importance of understanding customers' needs.

It’s no secret that tech giants like Amazon and Apple are driving consumer expectations for all digital interactions – including digital interactions with your financial institution. The problem is that many systems still in use at community FIs are still based on what one might call “legacy technology.” Simply stated, they were architected before Amazon was even a glimmer in Jeff Bezos’ eye. This problem is not insurmountable, but it does need to be aggressively addressed. 

In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Chris Sachse, CEO of Think|Stack, and Brian Murphy, Partner Strategist, Nonprofit Organizations at Amazon Web Services (AWS).

Brian talked about AWS and its initiatives for building up and supporting innovation within the community banking ecosystem. Chris went on to discuss how important he feels it is for community FIs to take advantage of such initiatives. 

Digital transformation isn’t a project – it’s a never-ending pursuit. What’s more, digital transformation is cultural as much as it is technological. There are no easy answers and there are no shortcuts. 

In this episode of Digital Banking Podcast, Jeff Keltner, the Senior Vice President of Business Development at Upstart, joined host Josh DeTar to discuss the impact of digital transformation on the growth of community FIs. He also explained why failures are as critical as successes and how achieving a balance between people and technology is the key to providing an exceptional user experience. 

Digital transformation is more than deploying some new technology. Effective digital transformation requires financial institutions to think differently and act differently. This fundamental shift begins at the brand level. While some institutions may see their brand as chiseled in stone, a brand must constantly evolve. That’s truer now more than ever.

In this episode of the Digital Banking Podcast, host Josh DeTar welcomed Amy Herbig, founder and CEO of The BA Group. DeTar and Herbig discussed the importance of preparing credit unions for change, explained why credit unions need to think like they are "running a business," and discussed author, inspirational speaker and marketing expert Simon Sinek's business analysis technique.

By now it should be clear to all community financial institutions that digital transformation is both imperative and a never-ending endeavor. Technology keeps changing, which means that consumer expectations keep changing, which means that FIs must keep changing just to keep up. It’s not easy.

In this episode of the Digital Banking Podcast, Josh DeTar welcomed Jenn Markus, the Director of Technology Partnerships at Glia. two discussed how companies can engage consumers and lead them to successful service outcomes, how companies should interact with consumers in the digital environment, and why communication is so important. Markus also explained the intricacies of payment processing.

It’s impossible to ignore the constant beating of the digital transformation drum. Where many financial institution executives struggle is trying to figure out exactly what digital transformation means and where to start. Our guest on this episode of the Digital Banking Podcast broker digital transformation down to four manageable components: people, technology, data, and processes.

In this episode of Digital Banking Podcast, we hear this and more from Mark Sievewright, the founder and CEO of Sievewright & Associates, as well as the co-author of Digital Life. 

Other topics that Sievewright covers with host Josh DeTar include the importance of company culture, successful tactics and strategies for leveraging technology, how even small FIs can differentiate themselves, and what FIs can learn from giants like Apple and Amazon. 

There’s general agreement that digital transformation is an imperative for forward-thinking financial institutions. Where there’s not always agreement is in what “digital transformation” actually means. Unfortunately, some FI executives conflate digital transformation with simply buying and deploying new tech products on top of their old tech products. To be clear, digital transformation is not about buying technology; it’s about a paradigm shift in how FIs view themselves and what they do.

In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Craig McLaughlin, the CEO of Finalytics.ai, for a discussion of digital transformation and hopw FIs can grow faster by improving their digital strategy. Finalytics.ai offers a platform that applies real-time big data and machine learning in a way that can address the unique needs of prospective and current accountholders. Its “segment-of-one” experience is based on individuals’ unique identities, orchestrating their financial journeys using dynamic segmentation and content to address their needs. This allows institutions to compete more effectively, drive consumer acquisition, and improve retention.

Community financial institutions are unique in that they have high-touch relationships and services built into their culture. But if they want to keep pace with – or even outpace – the mega banks, they must be willing to use that uniqueness to their benefit and take some risks, too.

That was the message from Bryce Deeney, the co-founder and CEO of equipifi. In this episode of the Digital Banking Podcast, host Josh DeTar talked to Deeney about the importance of providing an exceptional user experience, keeping pace with the digitization of money movement, and why fintech companies and credit unions should collaborate more.

Credit unions nationwide have joined forces to help raise money for kids in hospitals, and their results have been significant. Of course, this is a need that never goes away.

In this special episode of the Digital Banking Podcast, Josh DeTar welcomed Nick Coleman, the Director of Strategic Partnerships at Children's Miracle Network Hospitals (CMN Hospitals). They discussed Credit Unions for Kids (CU4Kids), the way this mission brings credit unions together, and how CU4Kids became the fifth largest donor for CMN Hospitals.

Today’s credit unions are faced with a balancing act. On one side is the high-touch, member-focused, “people helping people” ethos. On the other side is the need to embrace digital, with all its benefits and all its shortcomings.

In this episode of the Digital Banking podcast, host Josh DeTar, welcomed Brian Alfano, the COO of Oregon Community Credit Union. They discussed how core values can guide you in the right direction, why credit unions need to put their members first, and how you can leverage digitization to improve services.

Digital tools are increasingly critical to any community financial; institution’s marketing program. However, with so many options literally at one’s fingertips, it can be difficult to create a cohesive, effective digital marketing strategy. That said, the starting point is always a careful consideration of the institution’s culture.

In this episode of the Digital Banking podcast, host Josh DeTar welcomed Kristin Harrison, the Director of Business Development at Web Strategies. The two discussed the importance of thinking outside the box in digital marketing (especially in the financial space), how to stand out in today's competitive market, and why you need to be progressive if you want to succeed in such a crowded space.

While most new credit union members are middle-aged men and women, credit unions, like so many other organizations, want to pursue the millennial market. That apparent disconnect creates quite a challenge for growth-minded credit unions.

In the latest episode of the Digital Banking Podcast, host Josh DeTar welcomes Michael Murdoch, the marketing manager at Wauna Credit Union. The two get into what credit unions should do to attract younger members, why credit union executives should include their entire teams in the decision-making process, and how the appropriate use of data, technology, and diversity can help credit unions grow.

Technology is constantly changing, so what constitutes good due diligence today may not be good enough tomorrow. Many FIs neglect the importance of doing proper due diligence based on current technbology in order to find a vendor that best meets their current and future needs. 

In this episode of the Digital Banking Podcast, we heard from Shaun Murray, CEO of Enhanced Software Products, Inc. Shaun and our host Josh DeTar discussed the importance of practicing due diligence when choosing a new digital banking solution and how this can lead to long-term, mutually beneficial partnerships. 

Customers expect perfection from financial institutions. And when money and personal information are at stake, there's nothing unusual about that expectation. But striving for perfection and being perfect are not the same thing. Companies that strive for perfection in banking actually strive for constant improvement. 

In this episode of the Digital Banking Podcast, our host Josh DeTar welcomed Joel Morehouse, a Strategic Solutions Project Manager at DaLand CUSO. They got into the concept of imperfection in banking and why it helps build customer relationships and improve internal processes. They also talked about the role of technology and how FIs can live up to customers' digital expectations.

Credit unions use technology and a personalized approach to ensure the best member experience. Even with this winning combination, it’s still a challenge to stand out in a market where major banks dominate. 

In this episode of the Digital Banking Podcast, host Josh DeTar welcomed Shannon Ellis-Brock, the COO at Puget Sound Cooperative Credit Union. Shannon and Josh discussed why innovation and development are such powerful ideas in their industry, how satisfied employees lead to happy members, and why credit unions should partner with companies open to members' complaints and ideas. 

For financial institutions to evolve and improve member experiences, it’s important to introduce new technologies. However, it’s important to consider new technologies from a strategic perspective as well. 

Too often, FIs jump to implement the latest new feature. And organizations chase after new “shiny objects” hoping to meet the requirements of members. In the rush, FIs fail to negotiate contracts effectively and potentially cost their organizations millions of dollars during the course of a contract.

In this episode of the Digital Banking Podcast, host Josh DeTar sits down with Mike Crofts, President at vendor management consultant Maple Street, Inc., to uncover the secrets to negotiating favorable vendor contracts for your financial institution. Mike introduces key concepts in vendor negotiations, including establishing a clear understanding upfront and identifying ways to reduce costs when renewing contracts.

Geoff Knapp, Chief Growth Officer at Allied Payment Network, argues that community FIs are hanging onto a life ring, fighting for their lives in the golden age of opportunity.

In this episode of the Digital Banking Podcast, host Josh DeTar sits down with Geoff to talk about how younger clients are disrupting the banking industry by opting for megabanks for traditional banking needs because of their digital presence, and choosing fintech for niche services. Geoff says community FIs need to niche down by identifying who they want to target as customers and then taking risks to bring them in.

Listen to learn more about community FI tech opportunities, the importance of being the local coffee shop of banking, and taking risks.

Our guest, Dion Lisle, bills himself as the Rosetta Stone between FinTechs and Legacy FIs. He says FinTechs and banks operate at different speeds, and like gears, they need a transmission or a translation to be able to work together effectively. 

In this episode, he talks with host Josh DeTar about some of the current challenges community FIs face and what's at stake if they fail to listen to their customers more closely in the coming years. 

There was a time when most banking business was conducted at the branch. The interaction with the same people week after week made for a warm, personal experience. 

Thanks to technology, we wait longer to use the ATM so that we don't have to talk to anyone. As a result, that warm, personal experience is at risk of going the way of the dodo bird.

Joel Schwartz, Founder and co-CEO of DoubleCheck Solutions LLC, joins our host Josh DeTar to discuss how fintech and digitized banking can actually make for a warmer, more personalized experience that your parents might remember.

Shondell Varcianna is a resourceful and creative woman who keeps pace with the latest developments in the world of content marketing. Shondell is the CEO and founder at Varci Media. Her job consists of helping financial institutions succeed with their blog posts and all forms of content marketing. 

Shondell truly believes in the power of content. She suggests a holistic marketing approach to get in front of ideal customers, whether it is through Facebook Ads, PPC, or Google.

In this episode of the Digital Banking Podcast, Shondell reveals valuable tips and tricks financial institutions should implement when targeting the right customer. She emphasizes the importance of personalized content, technology, and unique strategies to approach the customer, as they don't want to be seen as numbers but individuals.

In this episode of the Digital Banking podcast, you'll get to hear from Trey Maust, the Co-Founder and Executive Chairman of Oregon City, Ore.-based Lewis & Clark Bank. Trey brings over 25 years of banking experience to the table, having served as CEO and Director at several leading financial institutions. 

Josh DeTar, host of the Digital Banking Podcast, and Trey Maust discuss the benefits of community financial institutions (CFIs) and their role in the future of banking. Trey's passion for the industry is contagious as he shares his thoughts and conclusions about fintech and CFIs. 

Trey and Josh talk about the differences between technology platforms and banks in terms of innovation. Trey offers great advice on how financial institutions can secure their place in the future of fintech.

In this episode of the Digital Banking Podcast, host Josh DeTar and SVP/VP of Operations Tracey Miller of Pioneer Federal Credit Union discuss a wide range of hot credit union topics. 

Tracey has a lot of experience in fintech and explains how important it is to be honest with both team members and external partners. Creating stable and sincere relationships can help any business to grow. If the foundation is strong, everyone around you will prosper and achieve their goals.

Tracey points out the importance of surrounding yourself with ambitious and detail-oriented peers, since that's the best way to answer all questions and overcome business challenges.

She thinks that listening to others while creating a company culture can take you places, and that's why Pioneer continues to thrive. Tracey is sure that building long-lasting relationships with everyone near you can help you overcome every obstacle on your path to success.

Laura Thompson is a retired SVP/CIO at the famous Orange County's Credit Union. She inherited her passion for credit unions from her family, who have been involved with credit unions for decades. For her, credit unions, or careers in general, aren't only about getting promotions and earning more money. They’re about broadening knowledge and fostering mutual respect among members and colleagues, no matter what industry they belong to.

According to Laura, knowledge is a never-ending journey that is a prerequisite for growth. She is happy to hear that there are student-run credit unions whose members and associates are highly motivated young people ready to help others and ensure a stable future. One issue: Many of them want everything, and they want it now. But good things come slowly, says Laura, and they pay off eventually.

Continuing the discussion, she suggests people should focus on becoming better at what they do instead of concentrating on the promotion itself. She also tackles the challenges faced by credit unions regarding technology and digital banking, adding that members still love credit unions despite their uneven tech implementation.

Eric Isham is a founder and CEO of OMNICOMMANDER, a company dedicated to helping credit unions grow by using well-thought-out SEO and marketing strategies. Based on his experience with credit unions, Eric claims that they do a terrible job of branding and marketing. How does that affect their overall performance and success?

Eric sees marketing as an essential tool for growth. However, marketing is only part of the answer. Credit union executives need to communicate well with their employees, members and partners. They need to answer all those why questions. Why should I become a member? Why should I stay at this credit union? By knowing the answers, credit unions can make significant changes in their workflow and grow memberships.

Eric explains how marketing and email campaigns can help credit unions grow, despite the common misconceptions about such an approach. He talks about branding, messaging, and the unified approach credit unions should embrace to go a step further.

In this episode of the Digital Banking Podcast, Josh DeTar discusses the impact of digitalization on the financial industry with his guest Brenda DiMuro, Regional Sales Manager at CO-OP Financial Services.

Not only do Brenda and her team at CO-OP service at least 50% of credit unions across the country, but they're also currently working to enable Zelle for them. Due to its endorsement/adoption by major banks like Bank of America, Chase and Wells Fargo, Zelle is rapidly becoming the de facto standard for real-time, institution-to-institution P2P payments. 

Since the outbreak of COVID-19, it has become much clearer that digitalization is here to stay. According to Brenda, credit union members will not hesitate to look for other options if you don't give them what they need. 

If you want to hear more about the importance of continually updating your product offering, tune in to this episode of the Digital Banking Podcast with Brenda DiMuro. 

In this episode of the Digital Banking podcast, Josh DeTar talks to Dennis Griesgraber, Chief Technology Officer at United Educators Credit Union. In this conversation, the two focus on the benefit of small credit unions and the importance of delivering a superior, member-centric experience to the credit union community in our technology-driven society.

Dennis speaks about the role of technology in enhancing the member experience. He sees that, even though we are surrounded by technology, members still find digital channels with poor user experience overwhelming. He provides potential solutions that create a more user-friendly environment, not only on the frontend but also on the backend.

Josh and Dennis discuss tech-related topics, including business intelligence (BI), leveraging data to enhance the member experience, and how the proper use of technology can help differentiate and allow small credit unions to shine. Tune in to the latest episode of the Digital Banking podcast to hear more firsthand information from our guest Dennis Griesgraber.

Gideon Taub, founder of Pinkaloo, is on a mission to democratize philanthropy.He says that while there's been a lot of innovation to help charities raise money, there hasn't necessarily been a lot of focus on how donors manage all of their giving. He also says giving has been siloed and isolated and explained why people should be more proactive in their giving. Pinkaloo seeks to change that. 

Gideon and host Josh DeTar discuss the virtual community and the importance of investing in digital banking. As Gideon explains, COVID accelerated digital adoption; people who didn't use digital banking apps were forced to use them. He also says in the past 18 months, there've been nonprofits that have really struggled, and there have been nonprofits that have seen a lot more funds flow.Gideon and Josh discuss solutions.

In this episode of the Digital Banking Podcast, Josh DeTar talks with Mark Sommer, COO at $70M ProMedica Federal Credit Union, based in Toledo, Ohio. They discuss actual a wide range of topics in the credit union environment, including the pandemic-driven society surrounded by the power of technology. How can small credit unions leverage technology to improve their services?

Mark talks about the advantages and disadvantages of a digital environment, where non-face-to-face contacts affect the relationships between MSRs and clients, credit union members, etc. He discusses the idea of convincing younger generations to go with credit unions instead of Venmo or big banks. 

In this episode of the Digital Banking podcast, you get to hear from Adrian Quince, Assistant Manager for technology at Redwood Credit Union. RCU is a trusted and community-focused credit union that offers banking services to over 300,000 members. Adrian joins our host Josh DeTar to discuss the power of technology in helping their members achieve their financial goals.

What's one of the most significant value propositions that credit unions bring to the table? According to Adrian, it's the personal touch. "It's the ability to relate to the member on a very deep level and the ability to gain their trust and get them to open up." Throughout this thought-provoking episode, you'll hear Adrian and Josh discuss many burning topics. From the importance of humanizing the digital banking experience to the challenges of competing with big tech companies. 

If you want to learn more about how technology is transforming the financial industry, tune it to the Digital Banking podcast's latest episode.

In this episode of Digital Banking Podcast, Josh DeTar features a conversation with guest - Merle van den Akker. Merle is a Behavioural Science Ph.D. student at the Warwick Business School in England. Merle’s motto is “You are never done learning” and she backs this up as a host the Questioning Behaviour podcast and as a blog writer at Money On The Mind. 

Merle’s inspiration for all of her work are two big questions: “Why do people spend the money they spend, and why don't people make certain investments?”. One of the main topics she’s researched is around whether online banking and tracker apps really help people with their finances. What’s the behavior that fuels our financial decisions? 

If you want to learn how emotions can influence people’s decisions regarding money, how different payment methods influence your spending habits, and what’s the science behind contactless cards & our spending behavior - tune in to hear it straight from Merle van den Akker. 

P.S. - She also had an interesting point of view about whether we should get back to cash or not, so don’t miss out on it!

Tim VanTassel, a VP of analytics software organization FICO, has rich experience in consulting, financial services, and banking. He’s interested in data and applied analytics, which he finds incredibly important in delivering convenient member experience, especially when it comes to credit unions.

In the latest episode of Digital Banking Podcast, he introduces the concept of FICO score, which is another brand of credit score widely used by lenders worldwide, but he also mentions other issues faced by credit unions and the process of their digitalization. Tim is focused on data, seeing them as an essential factor in user experience, loans, and sales.

What will you hear?

Through many interesting examples provided by both Tim and our host, Josh DeTar, you will learn about the FICO’s main goals, credit, members, behavior scores, sales relevancy, digitalization, and other concepts closely related to credit unions and member experience.

Tim and Josh will also discuss the problem of transactional fraud, another field in which Tim excels. Can fraud affect one’s credit score even if people didn’t know they were victims? You’ll be surprised. 

In this episode of the Digital Banking Podcast, you’ll hear from John San Filippo, the co-founder of Finopotamus. Finopotamus is a digital magazine for credit unions providing the latest fintech news from the industry. John has been in the credit union industry for over 30 years and has fulfilled a range of roles in different organizations. As a proud co-founder of a credit union blog, John now delivers useful tips and tricks to credit unions and technology companies that service credit unions.

Josh DeTar, host of the Digital Banking Podcast, and John San Filippo lead you through a brief history of the credit union, its development, and digital evolution. The two highlight events which have sparked significant changes to credit unions - especially in a year with a pandemic. John touches upon online banking, user experience, API integration, and the role of technology in the modern era.

The conversation also dives deeper into the difference between generations and what that means for handling transactions within a modern banking environment. And, lastly, the two explore how credit unions can compete with all the new fintechs and “Venmos” of the world.

Collin Campbell is one of the brightest minds when it comes to implementing strategic initiatives focused on Credit Unions, and he has some interesting points of view that are going to shift the way you see the overall member experience. 

When Collin started his career, it was in digital. Over the years he has found his place in the finance industry where he works as a strategic advisor for credit unions. In 2019, Collin collaborated with other partners and launched Detalus Strategy. In this episode of the Digital Banking podcast, Collin shares details about his journey with Detalus Strategy and provides perspectives on how credit unions of adapted over the last year.

In this episode, you’ll learn how people's understanding of organizations has changed from the '80s and what the future holds for credit unions. Collin also touches upon a member-centric strategy, and how to meet expectations and deliver the best services to your members by assessing their individual needs.  

In this episode of Digital Banking Podcast, Josh DeTar discusses the development of payment technologies with his guest Mickey Goldwasser, VP of Marketing and Chief of Staff at Payrailz. Having been in the industry since he got out of college, he calls himself a lifelong FinTech. He selflessly shares with us his helpful insights on how to embrace technology and explore artificial intelligence.  

Mickey's goal at Payrailz is to create a smart payment experience that will satisfy the end customers. "Our focus is trying to re-imagine payments and to do so in a way that matches innovation." The topics that Mickey and Josh touch upon in this episode go beyond just financial services. From machine learning to digital relationships, they answer some burning industry questions. 

If you want to hear more about the importance of personalized customer experience, machine learning, and product marketing, tune in to the latest episode of the Digital Banking Podcast with Mickey Goldwasser. 

Sahil Pankhaniya and Christian Trummer are two names that you should remember beyond doubt, if you haven't done it already, because of some incredible things that these guys are working on. They're both seniors at the George Washington University, and this is precisely where they first started thinking about Credit Union Initiative. 

When Sahil first started his studies at the George Washington University, he discovered that his classmates were running credit unions. He also found out that they were helping universities in one essential task – to combat a problem that students have a low financial literacy level. Because of that fact, they have a tough time during the college days and after they graduate to build a strong financial foundation. 

In 2021, Sahil and Christian hope to present a very lightweight suite of products, based on student needs. One thing will bring a fresh and young approach to this – the use of technology and finding as many niche service providers as possible to put them together for their tech system. Also, they're thinking about their future employees and how they will be able to interact with the system and learn fast. 

In this episode of the Digital Banking Podcast, Sahil and Christian are going to explain to us how this process started. From just a seed in their minds to an idea they could talk about out loud until this moment where they're almost launching it into the market. They're also going to give us a young generation’s perspective on finances and how the next money revolution should look. 

Is it possible to be pandemic-ready before one occurs? It was for Numerica Credit Union. 

Based in Spokane Valley, Washington, Numerica’s members-first operations had technological solutions in place to build on to better navigate COVID-19’s curveballs — that way, its 150,000 members could worry about one less thing. 

“Everything we do is all focused on enhancing our member’s lives, helping them fulfill their dreams and building the communities we serve,” says Numerica’s Senior Vice President Information Technology KayCee Murray, who’s worked at the credit union for nearly 20 years. 

From working in the IT department to business analytics, to project management to facilities, KayCee has extensive knowledge in Numerica’s robust set of financial products. It’s no surprise she’s a wizard at making members’ lives easier by employing the most efficient fintech to deliver and help them access services.

Before, during and after the pandemic, KayCee and her team are committed to doing the groundwork that leads to better processes and systems for digital banking, including account origination, money movement and more. 

On this episode of the Digital Banking Podcast, KayCee shares how Numerica tackles finding the balance between good user experiences and backend manual processes. She shares how Numerica educates its community on hackers and financial scams — plus, what the credit union plans to improve with its digital banking platforms. 

Business Data Incorporated (BDI) customer relationship and sales expert, Brian Orta, discusses credit union (CU) industry learnings from the industry's adaptations and needs exposed during the 2020 coronavirus. Orta talks with Digital Banking Podcast Host, Josh DeTar about the unique challenges and opportunities the COVID-19 pandemic has generated for Credit Unions (CUs) to innovate methods for improving their customer and employee experience.

Brian provides perspective on the shared circumstance in which all industries across the global business sector are struggling to adapt during the pandemic. He provides exciting insights into specific problems and the potential range of innovative solutions in new business practices and technology applications in service environment. He examines the kinds of advancements in technology that are necessary for realizing meaningful small increases in service value as well as more extensive upgrades in systems and practices to meet rapidly changing consumer demands.

He further comments on adaptive approaches for CU professionals and external agents networking on behalf of CU support services and product vendors, during the current health and economic crisis and beyond it, as the industry continues on in the digital era. He offers observations, ideas, and recommendations for replacing traditional ways of networking during this time.

Brian encourages thinking about the role of technology to maximize opportunities for improving efficiencies of CU operations. He explains the need for CUs to optimize treatment of customer relationships in the digital sphere. He also surprisingly considers the benefits of a refreshing return to some "old-school" ways of networking and general communications online, as feasible during the pandemic and even in pre-digital-age modes, as practical again after the pandemic

Podcast guest Mike Tierney discusses with host Josh DeTar the contrasts between current and former conventional U.S. American financial institution service offerings and personal finance management practices compared with those in other cultures, such as in the Netherlands.

Tierney, participating in the interview via international telecom, discusses current and future creative concepts for the development of live and digital interactive programs for educating children and adults in effective personal finance management practices.

Mike goes on to offer a vision for the future of the credit union role in helping individuals consolidate their personal financial resources on a powerful unified management platform, complete with an exciting array of helpful digital tools. For example, he considers the usefulness of providing charts displaying data extracted from the user's various accounts, and analytics features generating status reports and other information auto-prompts triggered by variations in account balances, deviations from personal historical behavioral trends, etc.

The discussion goes on to explore inspirational concepts for helping individuals maintain a more consistent and meaningful focus on their financial position and goals, such as employing gamification, announcements of accomplishments, and symbolic digital awards for reaching set financial milestones, and others.

Chances are, you’ve heard of Star One Credit Union. It’s one of Silicon Valley’s largest member-owned financial institutions.

And because it’s surrounded by the Facebooks, Googles and Apples of this world, it has more than $10 billion in assets with less than 115,000 members. (Psstt… That’s pretty impressive.) It also has a 90% retention rate, thanks to its efforts to serve its members. (Psstt… Also pretty impressive.)

One of the leading forces behind this customer-centric culture is Margarete Mucker. She’s been with Star One Credit Union for more than 28 years. As the Executive Vice President of Operations, Margarete is constantly exploring new ways to meet member needs through remote services and digital banking channels.

Because Star One understands its clients have large amounts of money with multiple institutions — sometimes around the world — the credit union has focused its efforts on optimizing money movement. In fact, Star One was one of the first financial institutions to partner with Zelle, the digital payments network.

In this episode of the Digital Banking podcast, Margarete explains the importance of Star One’s member-centric approach and how it balances that with profitability. She also dives deep into the money-movement ecosystem and even gives us a glimpse at what initiatives she and the Star One team plan to focus on next. 

You might not immediately associate credit unions with fintech startups, but this intersection is Austin Wentzlaff’s passion — so much so he started his own business.

As the founder of FinTech Accelerator, Austin works with early-stage startups that provide tech solutions for credit unions. For instance, he’s working with a company called Illuma Labs, a voice-authentication solution built for credit unions. The idea is for credit unions to bypass those annoying security questions and better serve the needs — and wants — of customers.

He also works with a company called RenoFi, what he describes as a “HELOC on steroids.” It’s a lending solution that allows homeowners to borrow money based on the value of their post-renovation home.

In this episode of the Digital Banking podcast, Austin shares his insights into the world of credit unions and tech. He explains how voice authentication solutions could change the way credit unions interact with customers, and he emphasizes the important role technology plays in this space — and how it could help credit unions reclaim thousands of hours a year.

The abrupt cancellation of in-person industry gatherings has resulted in “a year of lost connections,” says Natasha Chilingerian, Credit Union Times’ Executive Editor.

A self-proclaimed grammar nerd who deals with words daily, Natasha has managed the news site’s print magazine and website content for the past five years. Even though she’s worked remotely for seven years, there are plenty of new learning curves to navigate in light of COVID-19 — namely, the inability to connect with a community. 

While the number of virtual events this year has increased to simulate the connectedness of in-person learning and networking, Natasha says it’s not the same. The chance to travel and explore new places with others “creates bonding and builds relationships with different colleagues you work with.”

Without that, what connects us now is how much more human we allow each other to be. 

In this episode of the Digital Banking podcast, Natasha shares her thoughts on the sustainability of virtual events — plus, what we’ve learned about them since the onset of COVID-19. She provides insight on the post-pandemic future of remote work for credit unions, how we can balance schedules and availability (hint: flexibility is key!) and how to create boundaries between work and home. 

Hear Natasha’s thoughts on these topics and more, like the actual timeline of converting to digital banking and her take on the role of physical credit union branches in a digitized landscape.

Of the many important lessons the COVID-19 pandemic has taught us, don’t overlook this one: Digital marketing and communication strategies are key for any business, even those in the financial services industry.

On this episode of the Digital Banking podcast, Prisma Campaign’s Chief Revenue Officer Ianai Urwicz discusses how critical it is for financial institutions to keep up with the ever-evolving marketing landscape.

Ianai’s perspective is rich with culture and experience.  

Though born in Israel, Ianai moved to Latin America as a child and grew up mostly in Uruguay. He began his career in the telecom industry and worked for companies like AT&T and T-Mobile before eventually venturing into mobile payments and the FinTech ecosystem.

Now, Ianai serves as Chief Revenue Officer at Prisma Campaigns, the startup behind an agile omnichannel marketing tool specifically designed and engineered for financial institutions. Part of his work includes helping the company achieve its goal of creating the “Amazon experience while banking.” In other words, he works to leverage user data to create targeted campaigns across different marketing channels. 

Ideally, all financial institutions, including credit unions, should use data and modern marketing technology to predict and support their members — but creating personalized marketing campaigns comes with its fair share of challenges.  

Still, nothing is impossible.

Learn what approach financial institutions should lead with and how to create continuity across your digital and face-to-face messaging. Bonus: Find out how artificial intelligence can take your marketing campaigns to the next level. 

Credit unions are uniquely able to create intimate relationships with members, especially in rural towns where access to critical resources is limited. 

A passionate advocate and CEO of CUProdigy, Amber Harsin understands that better than most. She’s committed much of her career to credit unions — she credits working in branch after high school with providing unique opportunities to discover her full potential.  

Now, she ensures CUProdigy, a core data processor vendor, can help credit unions empower the financial stability of their members through seamless multi-channel user experiences. 

Between navigating a global pandemic and a series of earthquakes, Amber’s first six months of her latest role with the Credit Union Service Organization (CUSO) have been a rollercoaster. 

Still, in this episode of the Digital Banking podcast with host and Tyfone’s VP of Sales and Marketing Josh DeTar, Amber shares her enthusiasm to help credit unions help others. 

Technology plays a significant role in supporting credit unions to change business models, so it’s important that providers modernize their core infrastructure and architecture.

And to get ahead of 2020’s ripple effects, credit unions should apply these tools to offer digital financial services in creative ways, like placing kiosks in local hubs to give the people-first experience they’re known for. 

During our conversation, Amber also tells the CUProdigy origin story, how the CUSO approaches servicing credit unions and what would happen if community banks disappeared from small towns.

Plus, how can credit unions differentiate themselves from competing conglomerates that cash in on convenience?

As the digital space rapidly evolves, can credit unions access technology providers to fortify the journey forward? 

In the premiere episode of the Digital Banking podcast, host and Tyfone’s VP of Sales and Marketing Josh DeTar welcomes Mitch Rosenbaum and Lisa Mixon from the Credit Union of Colorado.

As the credit union's Director of Project Management, Lisa has enjoyed learning everything about the industry over the last 10 years, especially the parts where she gets to connect with people and hear about their sides of the business. 

While her role is to assure everyone’s voice is heard and communication is clear across teams, Mitch, on the other hand, helps the credit union create messaging — and ensures they deliver on it.

Though new to the credit union business, Mitch’s background in engineering psychology and marketing is useful as the Credit Union of Colorado aims to meet the developments of technology to create smoother digital banking experiences through artificial intelligence (AI). 

In this discussion about credit unions in the digital space, Lisa and Mitch provide insight into their process of pivoting their online experience, which Mitch says is partly, “measurement and understanding what our members are doing on those systems and where their pain points are.”

Plus, they explain what it’s like to maintain company culture remotely (and during a pandemic), the middleware that will allow them to implement new technologies, the four phases of sophistication of AI and much more.