Let’s face it, a lot of financial institutions are really struggling to position themselves online and make the most of their digital channels. Many banks and credit unions sound more like robots with their scripted value propositions and fail to address the real issues their account holders have. This leads to a ton of missed opportunities and a lot of money left on the table. Despite digital channels having the potential to outshine physical branches, they’re often underperforming due to...

Financial brand marketing and sales leaders face the challenge of consistently making new connections that lead to loan and deposit growth. They often struggle to leverage data and customer insights effectively to deepen relationships, which is crucial for fostering new connections and driving business outcomes. Brian Bauer, CEO of Revio Insight, a customer growth platform that transforms complex bank data into actionable growth opportunities for community and regional banks, joins the show...

Many financial brand leaders are unsure where to begin when it comes to secret shopping their website and often feel intimidated by the process—if they even know what website secret shopping is. That’s why on this episode of the Practical Perspectives series, James Robert Lay and Audrey Cannata break down everything you need to know about website secret shopping.  These studies offer a structured, 30-day approach that identifies blind spots and provides actionable insights to optimize...

Financial institutions often struggle to manage and appropriately respond to online feedback, especially negative reviews, risking the loss of potential loyal customers. Statistics reveal that a single negative review can severely damage a brand’s reputation, requiring up to 40 positive experiences to counteract it.  In this episode of the Banking on Digital Growth podcast, Audrey Cannata and James Robert Lay discuss the critical role of listening and responding to customer feedback for...

Many financial brands may not realize that their websites could be their biggest sales blind spots due to lack of proper evaluation. Without secret shopping, banks and credit unions may not identify critical issues that could be causing them to lose out on potential loans and deposits. This episode of the Practical Perspectives series advocates for external, objective website secret shopping studies as a means to uncover and address these blind spots. These studies offer financial brands the...

In a rapidly changing world driven by exponential technological advancements like AI, many leaders, teams, and organizations struggle to keep pace. This creates a widening gap between linear human perception and the exponential nature of change, leading to feelings of fear, stagnation, and a lack of growth. Many financial brand leaders, especially in the marketing sector, are losing their jobs or feeling displaced due to unforeseen changes in their industry. Jim Marous, CEO of the Digital...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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 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...