Banking Uncovered Podcast

Banking Uncovered Episode 11. Jim Marous: Futureproofing finance part 2 – Customer engagement, branding and next-level innovation in banking

Customer engagement in banking is shifting from passive loyalty to active engagement, driven by innovation and increasing customer expectations. Today’s customers want banks that understand their unique needs, offer quick and simple account setups, and provide a personalised experience. 

But what is the difference between a fabulous relationship and being intrusive? 

Banking Uncovered host Chloe James, speaks to Jim Marous, a top 5 retail banking influencer, global speaker, podcast host and co-publisher at The Financial Brand about the evolving landscape of customer experience (CX) and engagement in financial services. They explore how banks must prioritise personalisation beyond broad segmentation and embrace partnerships with fintech’s to offer streamlined, intuitive experiences that build trust and loyalty.  

They discuss how traditional banks and fintechs should take advantage of the data they have on their customers, what’s next for innovation in banking, and much more. 

In the second of two podcasts, Jim and Chloe dive into the challenges financial institutions face with the rising pressure to embrace personalised, customer-driven experiences in a tech-driven world. 

Topics discussed include:  

• What customer engagement means today and how to excel
• The importance of personalised engagement and how customers expect banks to understand their unique goals, preferences and financial patterns
• The huge and under-utilised value that data and customer insight bring
• What financial institutions can learn from GPS systems, Amazon Prime and Disney
• The next level of innovation in banking and how to deliver meaningful innovation
• The imperative for convenience and speed 

Banking Uncovered Episode 11. Jim Marous: Futureproofing finance part 1 – Digital innovation, AI and the dawn of the fintech

Intention to switch main bank accounts around the world is at an all-time high. In the world’s largest markets, up to 34% of consumers are considering changing their main bank provider. In the US it has never been higher at 25%.  

Banking Uncovered host Charles Green talks to Jim Marous, a top 5 retail Banking Influencer, global speaker, podcast host and co-publisher at The Financial Brand, about the market dynamic causing this trend, the proliferation of digital, AI and fintechs. And much more. 

In the first of two podcasts Jim and Charles dive into the challenges traditional banks face in keeping up with digital platforms, and the opportunity the data they hold on customers represents.  

Topics discussed include: 

• Redefining switching: The dynamics behind switching behaviour today and how the definition of switching has changed 
• Banking relationships: Why the main bank account is no longer the primary banking relationship 
• The rise of PayPal and super apps: How companies like PayPal and other transactional apps have become dominant, and the value of the insights they hold on consumers 
• Lessons outside of finance: What financial institutions can learn from the likes of Uber and Airbnb 
• The role of AI and Gen AI: How AI is reshaping everything from personalisation to fraud prevention, setting the pace for finance’s future. 
• The dawn of fintechs: The growth of fintechs and the importance of personalisation and convenience  

Don’t miss part 2, subscribe on your podcast app today. 

Banking Uncovered Episode 10: Building trust through transparency - RAA Insurance's focus on a member-centric service

RAA Insurance won three prestigious awards in the Australian Banking & Finance Awards 2024, Most Recommended General Insurer, Best Motor Insurer and Best Home Insurer. The Awards celebrate the financial service providers who have outperformed their peers, and often exceeded the expectations of their customers. Unlike other awards programmes, winners are determined by customers and are backed by data.   

In this engaging episode of the Banking Uncovered Podcast, Chloe James, Banking Uncovered Co-host at RFI Global, speaks to Tara Page, Chief Executive at RAA Insurance about how they achieved customer excellence and how they are addressing many of the challenges the insurance industry is facing worldwide, including the impacts of climate change and cost of living crisis. 

By keeping their members' needs at the forefront, RAA Insurance ensures its products offer value for money while addressing affordability and providing quality service.  

Topics discussed include:  

• The challenges facing the industry including climate change, the cost-of-living crisis and the aftermath of the pandemic
• The impact of economic stress on consumers and the protection gap
• How insurers around the world can learn from each other
• The importance of customer-centricity and designing products that meet consumers’ evolving needs and the importance of membership benefits
• How to offer value-for-money insurance products
• Best practice and innovation in the insurance sector
• Representing the voice of the consumer with government initiatives
• Introducing flexible motor insurance options
• Managing late payments with flexible payment plans
• Enhancing customer experience during claims
• Strategies for maintaining affordable insurance premiums 

Banking Uncovered Episode 9: The digital banking revolution - Brett King on the rise of challenger banks

The banking sector has undergone a radical transformation over the past decade. Fourteen years ago, when our podcast hosts first met our guest, there were no fintechs or neo banks. Now, the world’s top 20 fintechs significantly outvalue the top 20 traditional banks. So, what does the future hold? How should traditional banks navigate this changing landscape? 

In this engaging episode of the Banking Uncovered podcast, Charles Green, RFI Global’s Founder, and co-host Chloe James, speak to Brett King, founder of Moven and host of Breaking Banks, investor, author and futurist, about how AI and technology are shaping the future of banking. They explore changing customer behaviours, particularly among younger generations, who prefer digital solutions over physical branches. They discuss how banks in different regions, like the US, are adapting their branch strategies and integrating digital services to meet customer expectations, the next big transformations in the industry and much more.   

Topics discussed include:   

• The phenomenal global growth of fintechs and neobanks 
• The evolution of digital banking and its impact on traditional institutions
• The role of AI and technology in enhancing banking services and customer experiences
• The future role of bank branches: Will they become a fashion accessory?
• The shift in customer preferences, particularly among younger generations
• The increasing importance of convenience and accessibility in financial services, driven by smartphones and AI capabilities
• Consumer appetite for super apps around the world and the potential for ‘super wallets’ 

Tune in to gain valuable insights into the digital revolution in banking and what lies ahead for financial institutions and fintechs. 

Explore all our past podcast episodes here. 

Banking Uncovered Podcast Episode 8: Innovating banking - Steve Weston on digital transformation and customer engagement at Barclays

Steve Weston, Head of Everyday Money Management at Barclays, discusses his career journey, including his role in founding neobank Volt and his return to Barclays UK. He shares valuable insights into the challenges and experiences of working in both a fintech startup and a traditional bank. 

In this engaging episode of the Banking Uncovered podcast, Charles Green, RFI Global’s Founder, and co-host Chloe James, speak to Steve about the future of digital banking for neobanks and traditional banks. Innovative strategies for maintaining customer relationships beyond digital transformation, the concept of super apps, AI and cyber security and much more. 

Topics discussed include:    

• The future of neobanks and the increasing need for them to act more like traditional banks, especially regarding customer service and fraud reimbursement 
• Barclays’ innovative approach to customer engagement including the creation of  Barclays Local, the introduction of shared banking hubs and the development of electric vans
• The role of super apps and advanced payment solutions in the future of banking
• Barclays’ approach to acquiring and retaining young customers
• The importance of personalised services and digital tools
• Strategies to integrate payments and enhance digital services
• The value of Barclay’s Digital Eagle programme in educating customers and preventing fraud 

Explore all our past podcast episodes here. 

Banking Uncovered Episode 7: Why financial institutions are slowly moving away from their traditional ways

Did you know that half of SMEs globally are increasingly turning to non-traditional financial providers? As their trust in these new financial solutions has grown, many are now obtaining a wider range of financial products directly from these fintech providers. Additionally, numerous SMEs are forming partnerships with these innovative companies to enhance their value propositions and refine their lending practices.  

In this episode of the Banking Uncovered podcast, Charles Green, RFI Global’s Founder, speaks to Jane Prokop, Executive Vice President and Global Head of Small and Medium-Sized Enterprises at Mastercard, about investing 7 billion dollars over the last five years in cyber security, how SMEs can use generative AI to automate a lot of admin tasks, open banking and much more.   

Topics discussed include:   

• An increase in SMEs looking to switch their main banking and payments providers
• The increase in demand for digital services post-pandemic 
• Why SMEs are turning more to non-traditional financial providers    
• The introduction of joint platforms and automated lending processes using alternative data and scoring 
• How SMEs are highly vulnerable to cyber attacks 
• Gen AI's potential for automating tasks and providing actionable insights for SMEs

Explore all our past podcast episodes here. 

Banking Uncovered Episode 6: Robot customers, robot bankers or robot fraudsters? A look at the future of SME banking.

RFI Global data shows that 75% of consumers and 1 in 4 SMEs in the UK are looking to switch their main bank - a HUGE threat to the high street banks that hold most of these relationships. 

In this episode of Banking Uncovered, Chloe James sits down with Dave Birch, International Keynote Speaker, Author, and all-round Payments Guru. They talk about SME switching trends, the challenges of scheduling payments, managing overdrafts, dealing with financial crime and much more. 

Topics discussed include:  

• The implications of big tech in digital payments
• How “Fraud is out of control!” - and SMEs are a target 
• Payments and super apps
• Addressing SME dissatisfaction with innovation
• The AI take over… “Why isn’t a BOT doing this for me!?” 
• Ludicrous liability – tough times for the big players
• The importance of protecting your digital identity

Explore all our past podcast episodes here.

Banking Uncovered Episode 5: Inside SME banking, digital trends and the fintech evolution

Bank switching rates for SMEs in the UK and other countries are high, and SMEs are expecting more innovative solutions. 

In this episode of the Banking Uncovered podcast Charles Green, RFI Global’s Founder, speaks to Richard Davies, CEO of Allica Bank, about the trends in SME banking, the challenges and opportunities they represent, and much more. 

Explore all our past podcast episodes here.

Banking Uncovered Episode 4: How are fintechs disrupting the money transfer market?

Banking Uncovered co-host Chloe James, speaks to Surendra Chaplot, Global Head of Product, at standout fintech, Wise about the biggest opportunities for fintechs and traditional players when it comes to money transfer amongst consumers and SME’s, how to give customers exactly what they want (and need), the threat to traditional banks and much, much more.

Explore all our past podcast episodes here.

Banking Uncovered Episode 3: The importance of trust, culture and customer-centricity

Charles Green, RFI Global’s Founder, speaks to Rupert Lee Browne, Chairman and Founder of Caxton, about how to build a fintech brand that engenders trust, the importance of transparency, security and a customer-centric culture. 

Explore all our past podcast episodes here.