Bai Banking Strategies

Coaching a sales team in an age of runaway high tech is arguably harder than ever. Enter high-touch coaching, which marries digital savvy with focused, one-on-one feedback. Lisa Oliver, president and CEO of The Cooperative Bank of Cape Cod, explains how this powerful practice works.

Attracting stellar talent has long been job one in the financial services industry, and in the digital age, many of the old-school tried-and-trues simply don’t compute. But even in a job seeker’s market and with fierce competition from outside the sector, banks can win. Debbie Morris, senior talent management consultant with Cox Enterprises, explains how.

BAI and the Digital Banking Report recently released “Humanizing the Digital Banking Experience” at BAI Beacon. The report details how banks have an opportunity to humanize customer engagement on their digital platforms. Digital Banking Report owner and publisher Jim Marous discusses why banks lag behind and ways they can bring their experience up to speed via technologies such as AI.

While artificial intelligence and machine learning have enormous potential for banks, their roles are too often misunderstood. Meanwhile, cyber security dangers continue to challenge financial institutions. Matt Mills, chief commercial officer at Featurespace, lays out what the road to high-tech efficiency looks like.

The era of distributed ledgers in the financial services industry has arrived—and what began as a cryptocurrency exchange may well become the system on which the future of financial processes are built. Julie Esser, chief engagement officer for CULedger, discusses how credit unions are entering into this exciting new world, and what that means for them going forward.

Not all corporate leaders and innovators take conventional paths to success. For some, the self-styled journey begins in the teenage years and showcases the gifts of grit and resilience. BAI Beacon Featured Speaker Kat Cole, chief operating officer and president, North America of Focus Brands, describes how financial services leaders can learn from her journey—and arrive at a winner's circle surrounded by connected customers and engaged employees.

Growing customer base and income are priorities for banks, but that comes amidst an insidious form of growth: cyberthreats from determined bad actors. That creates a balancing act between keeping customers happy and secure. David Vergara, director of security and product marketing at OneSpan, discusses how financial institutions can mount a strong front to fight cybercriminals without disturbing customer experience.

In terms of how people save, invest and use credit, you could call it a moving target, based largely on economic conditions--and how they perceive those conditions. Robert Frick, corporate economist at Navy Federal Credit Union, talks about the ways behavioral economics can help financial institutions understand and better serve consumers, while helping them clear up misconceptions about how to best use their money.

Financial institutions—and rightly so—put much emphasis on making consumers happy. But to that end, employees on the front and back end hold the keys to success. Jamie Frogale, director of learning and development at Arlington Community Federal Credit Union, discusses how managers and leaders can motivate their charges and nurture their growth.

Especially in the wake of relaxed regulation, community banks have leverage to make their customer experiences better. Joe Salesky, the CEO at CRMNEXT Inc., discusses how the marriage of technology and proactivity can help banks deliver frictionless experiences.

In advance of moderating the BAI Global Innovation Awards sessions at BAI Beacon, JP Nicols of FinTech Forge talks about how this year's finalists exemplify first-class innovation across categories from data analytics to community impact. He also gives a sneak peek of the takeaways Beacon attendees will garner in service of a crucial goal: to drive powerful innovation in their banks and financial institutions.

A technology focus in the modern banking world means more than chasing new gadgets. Banks truly must adopt an overarching high-tech mindset that embraces innovation to give customers maximum value and satisfaction, in and outside the branch. This week's podcast features leading edge technology insights of Sonny Singh, senior vice president and general manager of Oracle Financial Services global business unit.

The drive for stellar customer service has been a constant in banking for generations. But the explosion of new digital technologies means a host of new ways to reach that goal—and a good share of confusion as well. Titi Cole, executive vice president, head of operations at Wells Fargo, discusses these issues in advance of her presentation at BAI Beacon 2018. By equipping employees the right way—and satisfying their desire to make a difference—banks can realize quantum leaps in meeting the financial needs of consumers.

Levels of credit have historically been based on the FICO score. But what if there was a way to expand beyond that metric and take other factors into account? That's exactly what a new breed of fintechs are doing by leveraging alternative data to reach underserved consumers. Poulomi Damany, vice president of data products for Credit Karma, explains how her company uses data points such as on-time bill payment and spending patterns to build a more comprehensive picture of the consumer.

The digital movement of money from consumer to merchant to bank and back again—all in the blink of an eye—is upon us. Call it the dawn of cybermoney. Al DeBonnett, co-founder and chief operating officer of CyberBanque Ltd., talks about moving towards a cashless society, and how this will impact the future of financial sovereignty in the U.S. and worldwide.

Stellar service doesn't stop at meeting basic customer needs: It means anticipating them to build the foundation of a strong relationship and a more "human" experience. That also means leveraging technology to free up valuable time so bankers and clients can interact on issues that matter. John Maniscalco, senior vice president, head of customer experience and retail productivity at TD Bank, outlines the elements of peerless customer treatment and interaction in advance of his appearance at BAI Beacon in October.

Deposits and interest rates are rising and that's good news for big banks. But questions remain as to how smaller banks will land their market share—and how potential disruptors such as Amazon could change the picture for all. Betty Cowell, senior advisor at Simon-Kucher & Partners, shares what banks can expect in the second half of 2018.

Many Americans live paycheck to paycheck, or are in a situation where one financial emergency could create financial chaos. Banks can help these people by encouraging and building financial literacy, which in time can foster lasting customer loyalty. Luvleen Sidhu, co-founder, president and chief strategy officer of BankMobile, discusses breakthrough practices that can help make a difference.

The banking industry knows by now that it’s missing major opportunities to tap the small business lending market. But between paperwork hassles for borrowers and return-on-investment fears from lenders, it’s left a void for fintechs to exploit. Sam Taussig, head of global policy at Kabbage, explains how online platforms are taking the friction and guesswork out of small business loans.

In 10 years, the banking landscape has accelerated to digital warp speed, bringing with it mobile apps, remote deposit capture, chatbots, upstart startups and the first stirrings of artificial intelligence. But is the temptation to keep up a trap that compels financial institutions to try being all things to all people? Julien Courbe, who leads PwC's U.S. Financial Services Advisory, weighs in on how banks can gain focus and renewed perspective through picking the right projects—and leveraging the never-ending endgame of stellar customer experience.