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Most financial institutions are stuck in the present, lacking the forward-thinking leadership needed to navigate and thrive in a rapidly changing environment. Leaders within these organizations frequently find themselves overwhelmed by day-to-day operations, which restricts their ability to focus on future growth and innovation.
On this episode of the Practical Perspectives series, James Robert Lay and Audrey Cannata discuss the need for leaders to adopt a future-focused mindset by setting aside dedicated time for strategic thinking and ongoing learning. By visualizing their future selves and operating from that perspective, leaders can inspire and drive meaningful change within their organizations. Join in as they suggest practical steps, such as evaluating one's current operating mindset and creating a vision for the future, to bridge the gap between current capabilities and future potential. Ultimately, embracing continuous growth and surrounding oneself with like-minded individuals can help drive the financial industry toward a more innovative and successful future.
Join us as we discuss:-The Importance of Vision in Leadership (05:32)
-The Role of Culture and Change (10:31)
-Leadership vs. Management (17:41)
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.
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In this episode of the Practical Perspectives series we share how a regional bank’s 67% abandonment rate on personal loans translates into a staggering loss of $100 million annually in interest income. The situation is further amplified by the fact that the brand is investing in paid advertisements to drive traffic to these pages, and only 25% of users are even attempting the application process.
Join us as we discuss how small, incremental optimizations (like a mere 5% increase in application starts and a similar reduction in abandonment rates) can potentially recapture millions in lost interest income annually. Addressing and optimizing even the seemingly minor aspects of the digital customer journey can lead to substantial revenue recovery and growth for financial brands.
Join us as we discuss:-Case Study: Regional Financial Brand's Abandoned Applications (02:11)
-Calculating the Financial Impact of Abandoned Applications (07:43)
-The Power of Incremental Changes (14:44)
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.
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After facilitating over 1200 website secret shopping studies for financial brands over the past decade, the Digital Growth Institute decided it was time to drink their own medicine. After recently launching their new website, they put out a call-to-action for industry leaders to provide real-time feedback.
In this episode of the Practical Perspectives series, James Robert Lay and Audrey Cannata discuss the insights they gained and how the practice of rapid iteration helped them to level up their brand messaging and communication. They discuss the lessons that they learned and how even the most seasoned marketers can find tremendous value in outside perspectives.
Join us as we discuss:-Secret Shopping the Digital Growth Institute Website (04:43)
-The Power of Clear Messaging (08:39)
-The Value of Outside Perspective (17:31)
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.
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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 poor optimization practices.
In this episode of the Practical Perspectives series, James Robert Lay and Audrey Cannata discuss insights from a recent Website Blind Spot Benchmark they conducted. The big takeaway? Regular website assessments can help pinpoint problem areas and unlock some serious financial gains. By properly mapping out customer journeys, banks can create a clear path that guides customers from the first click all the way to a completed transaction, reducing confusion and boosting confidence.
Join us as we discuss:
-Understanding Positioning and Customer Journeys (02:38)
-The Importance of Ongoing Optimization (18:12)
-Human Connection in Digital Experiences (28:37)
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.
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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 to discuss how financial brands can turn data into actionable growth opportunities. This episode highlights the importance of not waiting for perfection to start engaging customers, leveraging both digital and relational engagement channels effectively, and ensuring that product offerings align with customer needs. The big takeaway? Human experience and building authentic relationships can inevitably lead to more business and profitable relationships.Join us as we discuss:
-Turning Data into Deposits and Revenue (04:28)
-Account-Based Marketing Explained (15:05)
-Building Transformational Relationships (22:48)
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.
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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 website experiences. With a specific focus on product lines, demographic segments, device types, and stages within the buying journey, financial brands can make targeted improvements. The results are a significant increase in user conversions and overall growth, translating to a substantial return on investment.
Join us as we discuss:
-Breaking Down the Secret Shopping Process (06:19)
-Focusing on Product Lines and Demographics (17:09)
-Stages of the Buying Journey (24:36)
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.
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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 financial institutions. By sharing real-life examples, such as a commendable response from Frost Bank to a negative review, the podcast emphasizes the importance of proactive customer service and reputation management.
Join us as we discuss:-Real-Time Feedback Response (08:56)
-Statistics on Negative Experiences (15:32)
-Google My Business Strategy (25:57)
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.
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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 opportunity to gain valuable, unbiased feedback from real users, which can help improve their digital engagement, boost conversions, and ultimately increase loans and deposits.
Join us as we discuss:
-Understanding Website Secret Shopping (00:47)
-Common Objections to Secret Shopping (03:48)
-Conclusion: Awareness and Action Steps (43:04)
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.
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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 Banking Report and co-publisher of The Financial Brand, believes the solution lies in continuous learning and transformation. Jim joins the show to offer strategies and advice on navigating change successfully.
Join us as we discuss:
-Navigating Industry Changes (11:16)
-The Importance of Asking Questions (18:50)
-Lessons from Failure (28:35)
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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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