Banking on Digital Growth

It’s not surprising that a significant portion of Americans are struggling with their finances, with many living paycheck to paycheck. Even those working within financial institutions are not immune to these issues. This episode of the Exponential Insights series offers a practical and straightforward solution to this widespread problem. Guest Gordon Stein introduces the concept of "Cashflow Cookbook," a book filled with 60 easy-to-follow recipes for freeing up cash without sacrificing lifestyle quality. He emphasizes that small changes in managing recurring expenses, like switching cell phone providers or optimizing monthly bills, can significantly improve cash flow. By taking these steps, individuals can save and invest more effectively, ultimately reducing financial stress and increasing financial well-being.Join us as we discuss:-Practical Financial Tips from Cashflow Cookbook (06:12) -Behavioral Change and Financial Wellness (10:15) -Future of Financial Services and AI (19:15) You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here. Hosted by Ausha. See ausha.co/privacy-policy for more information.

As financial brand leaders navigate the complexities of a post-COVID world, the economic shifts, and the rise of artificial intelligence, feelings of exhaustion and burnout are rampant. Leaders and team members alike are struggling to stay engaged and find fulfillment in their roles. The pervasive cultural norm of complaining about work and separating personal and professional lives further aggravates the issue, leading to an overwhelming sense of frustration and resistance to change.This episode offers a roadmap to overcome these challenges. Audrey Cannata and James Robert Lay share personal experiences of overcoming adversity, such as leaving toxic environments, to highlight the power of personal transformation. They emphasize integrating spiritual, mental, physical, relational, and financial aspects of life to foster holistic growth.Join us as we discuss:-The Connection Between Personal and Professional Growth (7:15)-Recognizing the Need for Change (28:17)-Defeating Self-Limiting Beliefs (37:49)You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here. Hosted by Ausha. See ausha.co/privacy-policy for more information.

Many financial brands are underinvesting in their digital sales channels, especially their websites, in 2024. Organizations often view their website as a one-time cost rather than an ongoing investment and fail to recognize its critical role in the customer buying journey. Failing to adapt to the digital shift can lead to being left behind by competitors who prioritize their digital presence.In this episode of the Practical Perspectives series, James Robert Lay and Audrey Cannata discuss the transformations in consumer behavior and why viewing the website as a critical part of the digital buying journey, financial institutions can align their investments with industry trends and customer expectations.Join us as we discuss:-The Growth Mindset: A Case Study (3:48)-Comparative Analysis: Toys R Us vs. Target (14:43)-Optimizing Digital Strategies: Secret Shopping Studies (21:49)You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here. Hosted by Ausha. See ausha.co/privacy-policy for more information.

Many leaders struggle with the fear of change, failure, uncertainty and not being good enough. Left unchecked, fear can become debilitating and prevent you from taking the actions needed to move forward. You may find yourself procrastinating, doubting your abilities and resisting needed changes that feel uncomfortable. In this episode of the Practical Perspectives series, James Robert Lay and Audrey Cannata discuss the importance of investing in personal development, seeking guidance from a coach or mentor, and leaning on a supportive community of peers. Learn why it's critical for financial brand leaders to face discomfort, address blind spots and navigate change with grit and resilience in order to maximize their adaptability quotient (AQ). Don't let fear hold you back any longer.Join us as we discuss:-The Role of Fear, Uncertainty, and Doubt (FUD) (4:45)-Overcoming Perfectionism and Procrastination (8:37)-The Importance of Self-Respect and Growth Mindset (20:23)You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here. Hosted by Ausha. See ausha.co/privacy-policy for more information.

Many financial brands struggle to adapt to the rapidly changing landscape of digital banking, often feeling overwhelmed and uncertain about how to maintain growth and customer engagement in the face of continuous technological and market changes.Financial brand leaders frequently express feelings of exhaustion, confusion, and indecision when trying to navigate these changes. They're overwhelmed by the need to create digital customer experiences, map out complex buying journeys, and implement new technologies while maintaining trust and human-centric engagement. The pressure to act without clear guidance often leads to inaction or ineffective measures.On this episode of the Exponential Insights series, Carey Ransom, Managing Director at BankTech Ventures, discusses actionable strategies for overcoming these challenges. He emphasizes the importance of creating space for reflection, continuous learning, and the adoption of an agile mindset. Join us as we discuss:-Adapting Agile Methodologies in Banking (10:04) -Investing in an Online Presence (19:28) -The Role of Generative AI in Banking (39:50) You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here. Hosted by Ausha. See ausha.co/privacy-policy for more information.

Are you aware of the number of loans and deposits you're losing due to blind spots in your bank's or credit union's onboarding experience? According to the Digital Banking Report, 46% of newly opened accounts go inactive within the first year. To put it differently, almost one out of every two accounts your financial brand opens has the potential to go inactive in the first 12 months. Think about these questions: How much might these onboarding blind spots be costing you right now? More importantly, what can you do about it? In this episode, we welcome Har Rai Khalsa, who is on a mission to help banks and credit unions recover business from big mega banks and neo banks, thereby strengthening local financial institutions and the communities they serve.Join us as we Discuss:-The Onboarding Experience: Challenges and Solutions (11:41) -Human Connection in the Age of AI (29:32) -Practical Steps to Improve Onboarding (37:30) You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here. Hosted by Ausha. See ausha.co/privacy-policy for more information.

What is the most important technology for financial brand leaders to master in the age of AI? While many immediately think of AI as the crucial technology, James Robert suggests that the most vital technology is actually the one between our ears – our minds.Jennifer Beeston, the number one VA mortgage lender in America and author of "Brain Hacked: How Big Tech Trains Your Brain to Spend, How You Can Fight Back," joins the show to discuss the significance of mental mastery. Jennifer, who has been a guest on the podcast before, shares insights from her new book, emphasizing how financial brand leaders can help their account holders and themselves master their minds. Tune in to gain valuable perspectives on the intersection of technology and human cognition, and learn how to cultivate mental resilience and make more informed decisions in your professional and personal lives.Join us as we discuss:-The Role of Social Media in Consumer Behavior (04:33)-Digital Addiction and the Rise of Social Media "News" (32:39)-Reprogramming the Mind for Positive Change (43:31)You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here. Hosted by Ausha. See ausha.co/privacy-policy for more information.

In the latest episode of the Practical Perspectives series, James Robert Lay and Audrey Cannata highlight the often unseen complexities of opening new deposit accounts at financial institutions. They reveal how a cumbersome user experience can overwhelm and even frustrate customers, leading to lost opportunities for banks and credit unions. Through recent secret shopping studies, common patterns emerged showing that many institutions unintentionally add cognitive load—making the process more confusing for customers.The good news is that simple, actionable changes can make a big difference, such as redesigning comparison tables to clearly present fees, interest rates, and minimum balance requirements. They emphasize the importance of transparency and simplicity, arguing that making essential information easily accessible can significantly reduce customer stress and increase trust. Join us as we discuss:-The Three Types of Cognitive Load (9:26)-Simplifying and organizing different types of accounts (12:16)-Increasing trust through transparency (17:22)Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this episode of "Banking on Digital Growth," hosts James Robert Lay and Audrey Cannata share insights from the book "The Mountain is You." They discuss self-limiting beliefs and self-sabotage, emphasizing how these can impede both personal and professional progress. Audrey shares her immediate connection with the book and discusses self-sabotage as a coping mechanism that prevents success.Both Audrey and James Robert  discuss their shared journeys with abstaining from alcohol for 100 days to achieve mental and spiritual clarity. They also touch on perfectionism, digital addiction, and the quest for deeper connections.Join us as we discuss:-Understanding Self-Sabotage and Its Impact (04:13) -Self-Limiting Beliefs: Breaking Financial Barriers (32:39) -Sobriety Journey: Reevaluating Alcohol Consumption (43:31) You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here. Hosted by Ausha. See ausha.co/privacy-policy for more information.

Despite the rise of digital-first and digital-only banking tools, there remains a strong desire for personal interaction in banking. Many people still prefer human interactions because they inherently trust people more than automated systems. In this episode, James Robert shares a live, real-time example of a failed attempt to connect quickly with a person at Frost Bank, showing that despite claims of easy access to human support, actual customer experiences often fall short.Join us as we Discuss:-Insights from Website Secret Shopping Studies (03:14) -Case Study: Frost Bank's Human-Centric Approach (12:44) -Live Experiment: Testing Frost Bank's Customer Service (20:13)You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.  Hosted by Ausha. See ausha.co/privacy-policy for more information.

A significant issue facing financial brands is the overwhelming number of choices and decisions account holders and prospective account holders face daily. This cognitive load can lead to a poor shopping experience on financial websites, resulting in the loss of millions in loans and deposits.Jon MacDonald, founder and CEO The Good, and author of Behind the Click, suggests financial brands engage in proactive communication and undergo user testing to understand customer needs truly. Jon joins this episode of the Exponential Insights series to discuss the importance of personalized digital experiences and removing barriers for both types of consumers — "satisficers" looking for quick solutions and "maximizers" seeking detailed information. He also discusses why post-purchase communication is critical to meet customer expectations, fostering positive emotions and encouraging advocacy.Join us as we discuss:-Behavioral Insights: Understanding Online Behavior (04:24)-The Paradox of Choice in Digital Experiences (18:39)-Optimizing the Post-Purchase Experience (38:08)You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here. Hosted by Ausha. See ausha.co/privacy-policy for more information.

Many financial institutions experience limited conversions when running paid traffic to their campaign landing pages. They invest significant ad dollars but fail to capture and convert leads effectively, leading to wasted resources and missed opportunities for loans and deposits.To overcome these obstacles, financial institutions should enhance trust by providing clear information about their identity and reliability, display rate information transparently to align with consumer expectations, and offer easily accessible resources like buying guides to nurture leads effectively.Join us as we discuss:-Secret Shopping Study Insights (01:28)-Transparency in Rates (10:30)-Communication Follow-Up (15:32)You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here. Hosted by Ausha. See ausha.co/privacy-policy for more information.

Over 80% of financial brands lack a clear digital growth strategy, leading to confusion and misalignment among marketing, sales, and leadership teams. This results in organizations getting stuck in cycles of chaos and conflict, unable to effectively address core fears related to change and growth.The absence of a well-defined digital strategy exacerbates common fears such as fear of the unknown, fear of change, fear of failure, and even fear of success. Join James Robert Lay and Audrey Cannata as they unpack the Digital Growth Blueprint and how one credit union in Texas increased alignment and gained a unified path forward through this roadmap.Join us as we discuss:-Identifying and Addressing Misalignment (09:09) -The Role of Stakeholder Conversations (14:00) -Transforming Go-to-Market Strategies (19:55) You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.  Hosted by Ausha. See ausha.co/privacy-policy for more information.

Many financial brand leaders often find themselves questioning their role and value within their organization amidst periods of significant change and transformation. This self-doubt is commonly driven by imposter syndrome and a fear that the value they create may not be recognized or needed by their team or organization.By fostering adaptability and resilience, leaders can transform their self-limiting beliefs, embrace discomfort, and ultimately drive themselves and their organizations toward exponential growth. Join James Robert Lay and Audrey Cannata on this episode of the Digital Leadership series as they emphasize the importance of radical honesty, celebrating victories, and maintaining a growth mindset to navigate and thrive in changing environments.Join us as we discuss:-Embracing Discomfort for Growth (06:52) -Overcoming Self-Limiting Beliefs (17:38) -The Role of Villains in Transformation (24:19) You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.  Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this episode of the Digital Growth Journeys series, Rob Hoyle, Chief Information Officer at Vantage West Credit Union, shares the story behind HUSTL, a new digital brand specifically designed for freelancers and small business owners. With features like custom project folders, seamless expense tracking, and dedicated customer support, HUSTL helps these entrepreneurs manage their finances more efficiently. The service extends beyond digital capabilities by engaging with the community through in-person events and collaborations, thereby building a stronger affinity with its usersJoin us as we discuss:-Challenges and Lessons in Starting from Scratch (03:29) -Targeting the Freelancer Market (05:13) -The Importance of Affinity and Community (14:40)You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.  Hosted by Ausha. See ausha.co/privacy-policy for more information.

Internal misalignment could be costing your bank or credit union millions of dollars. Many financial brands, while confident about their service and experience, may actually be failing to align their internal messaging and strategies. In this episode of the Practical Perspectives series, we’ll discuss a real-world example  of a financial institution struggling with inconsistencies in their product positioning, resulting in missed opportunities and customer confusion.  We’ll share the importance of having a unified internal communication strategy and firsthand experiences with both their own financial brand’s services and as well as their competitors' offerings.Join us as we Discuss:-The Importance of Unique Product Positioning (06:21)-The Power of Perspective and Expertise (17:19) -Benchmarking for Better Alignment (21:43)You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.  Hosted by Ausha. See ausha.co/privacy-policy for more information.

Despite having access to financial education, the mass majority of people still experience financial stress and anxiety, while struggling with the emotional and behavioral aspects of money management.This financial insecurity is exacerbated by comparison culture and the constant move of goalposts, leading to a sense of inadequacy and perpetual dissatisfaction. Even high-achieving individuals fall into the trap of not recognizing their progress and feeling stuck. Misconceptions about financial success being solely related to income level further complicate the issue, fostering a sense of hopelessness among those with modest earnings.In this episode of the Behind the Cover series, Audrey Cannata joins James Robert Lay to dive into the Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel. They discuss shifting focus from pure financial literacy to integrating emotional and behavioral insights into financial coaching. By addressing underlying beliefs and behaviors, financial brands can better support their account holders, encouraging small, sustainable steps towards financial confidence and long-term wellbeing. Join us as we discuss:-Behavioral Aspects of Money (05:24) -Comparison Culture and Social Media (13:19) -Setting and Achieving Financial Goals (16:19) You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.  Hosted by Ausha. See ausha.co/privacy-policy for more information.

Financial brands often struggle with unseen gaps in their marketing and sales systems, leading to lost loans and deposits. Understanding the "what" and "why" behind consumer behavior is critical, but many financial institutions lack clarity and actionable insights. In this episode of the Exponential Insights series, Carlo Cardili, COO at Alpha Rank, and James Robert Lay discuss a strategic approach to overcoming these challenges by leveraging both big data (what people are doing) and thick data (why people are doing it). This approach helps financial institutions identify and address blind spots, develop a strategic plan tailored to their needs, and implement a continuously optimized digital growth strategy.Join us as we discuss:-Understanding Consumer Behavior (05:44) -Simplifying the Application Process (23:41) -Re-engaging Abandoned Applications (28:34) You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.  Hosted by Ausha. See ausha.co/privacy-policy for more information.

The commonly held belief that financial well-being is the starting point for achieving overall life satisfaction is misguided. Despite the increased focus on financial literacy and education, financial stress and anxiety are at an all-time high, with many people failing to achieve true financial stability.The path to true financial well-being begins with mastering one's physical and mental health. Through personal stories and philosophical insights, James Robert Lay and Audrey Cannata emphasize that by improving physical fitness and mental resilience, individuals can create a strong foundation for financial stability. They share practical advice, such as integrating physical activity into daily routines and leveraging Stoic philosophies for long-term mental and financial health.Join us as we discuss:-The Five Levels of Wealth and Wellbeing (04:27) -The Role of Emotions in Financial Decisions (07:33) -The Interconnectedness of Physical, Mental, and Financial Health (16:46) You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.  Hosted by Ausha. See ausha.co/privacy-policy for more information.

This panel discussion at the CuneXus Symposium addresses key challenges faced by credit unions, such as achieving positive loan growth, fostering loyalty, differentiating lending products, enhancing member experiences, preventing fraud in digital account openings, managing liquidity, expanding digital presence, and adapting to post-COVID member expectations.Join us as we discuss:-Audience Engagement and Mindset Shifts (05:12) -Navigating Digital Transformation (09:58) -Opportunities and Future Growth (13:59) You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.  Hosted by Ausha. See ausha.co/privacy-policy for more information.