Welcome to RFI Global’s Banking Uncovered - the podcast that goes behind the industry PR, the media spin, the product awards and the investor reports to look at what’s really going on in the industry. Using customer data we focus on how are customers behaving, how behaviour is changing and how institutions are reacting to new customer needs. At the same time as the rapid development and enhancement of data capability, the impact of generative AI and the emergence of stronger fintech propositions, traditional banks have invested heavily in their digital capabilities. As the industry stalwarts, challengers and fintechs continue to compete in this new digital and physical world, we bring together divergent opinions and viewpoints. Talking to CEOs, founders, global experts and leaders in banks, payments, fintechs and challengers spanning the globe, we ask the big questions facing the industry. In depth interviews and panel discussions, combined with RFIs global customer data lake will ask: · What are evolving needs of customers and what are the key trends? · What are the next innovations that will meet these? · Which players are responding to new and emerging customer needs and what propositions are working? · Are new and upcoming regulations going to impact the market and how?
Episodes
Tuesday Oct 29, 2024
Tuesday Oct 29, 2024
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.
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