What Digital Transformation Is and Isn’t, with Craig McLaughlin of Finalytics.ai

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.