Financial Futures

Enabling modern banking with digital implementation

FIS, Erin Dangler, Héctor Pagés, Bradley Clerkin — Tue, 04 Apr 2023 16:00:00 +0800

It used to be that new technology capabilities were there to support existing business channels. But technology isn't just a supporting feature for organizations anymore, technology is a business channel. And for banks to take advantage of that, they need to be flexible, they need to be quick to adopt new features, and they need to have a solid tech foundation. And above all, they need a robust digital implementation strategy.

In this Financial Futures season finale, we explore what makes for an effective, and repeatable, digital implementation strategy. We ask what the building blocks of a successful implementation are and we find out what the common pitfalls are to avoid. Plus, we'll learn what institutions need to do to maintain their digital capabilities beyond the onboarding stage.

Joining us on this episode are vice president and general manager for Digital One at FIS, Héctor Pagés, and chief technology officer at BreakFree Solutions, Bradley Clerkin, to guide us through the technical capabilities and mindset banks need to ensure digital implementation success.

We'll also ask:

How have digital banking and digital implementation evolved?
What do pre-digital and post-digital mean for banks?
Why has digital become so important for banking customers?
How do banks ensure they stay ahead of the latest technology trends?
Why do banks need to be involved in their digital implementation strategy?
What are the six essential capabilities institutions need to ensure digital success?

Managing portfolios better with wealth as a service

FIS, Erin Dangler, Luke McCabe, Eric Bittel — Tue, 28 Mar 2023 16:05:29 +0800

Consumer banking, loan applications, car insurance - there are some financial services that no one was surprised to see go digital. But some others (until recently at least) seemed like they would always belong more in a mahogany-clad Wall Street office than on a phone screen. But as technology has advanced, and as consumer trends have changed, more and more services are meeting customers where they are and going digital.

And the world of wealth management is no exception to this new rule.

In this episode of Financial Futures, we learn how the as-a-service model is coming to wealth management and how this technology is democratizing this essential resource. We'll find out how demand for wealth as a service has grown in light of increasingly optimized user experiences across the tech sector and we'll learn why legacy technologies are hindering, rather than helping, wealth managers to provide the best value.

Joining us in this episode are head of wealth management at FIS Global, Luke McCabe, and head of wealth management consulting at NTT Data, Eric Bittel. They'll reveal how the wealth management landscape has evolved (and where it's going), and they'll discuss the current challenges wealth managers are facing, along with some potential solutions.

We'll also ask:

What is wealth as a service?
How is wealth as a service helping wealth managers to focus on higher-value work?
What are customers demanding from the wealth management user experience?
How can firms stay relevant and provide value to wealth management customers?
What can wealth management professionals and firms do to prepare for WaaS adoption?
How is WaaS making wealth management more scalable and allowing for flexible pricing models?

Keeping customers loyal with modern rewards

FIS, Erin Dangler, Mladen Vladic, Doug Dwyre — Tue, 21 Mar 2023 16:00:00 +0800

Time is the nemesis of the rewards program. Because as society's taste for streamlined processes has grown, the long minutes spent signing up for cards at checkouts and remembering logins online have become decidedly more inconvenient. However, those clunky loyalty program processes will soon be a thing of the past thanks to a very modern rewards solution, underpinned by tokenization and fuelled by superior data collection, making its way into the mainstream.

In this episode of Financial Futures, we learn all about the future of loyalty and rewards programs and how these solutions are working for consumers and merchants alike. We'll find out where modern rewards programs can offer the most value to customers and businesses, and we'll find out why the benefits of tokenization aren't solely monetary.

So, join us as we speak with managing director at PWC, Doug Dwyer, and director of loyalty at FIS, Mladen Vladic, all about the technologies helping to set organizations apart from the competition all while keeping customers coming back for more.

We'll also ask:

What is tokenization?
How can modern loyalty programs be used to benefit charities?
What makes modern rewards programs more financially beneficial to merchants?
How is tokenization helping organizations to personalize their rewards programs?
What do rewards programs mean to customers and why are they important?
How can organizations adopt modern rewards and loyalty programs?
What does the future of loyalty look like?

Making big business personable with customer data platforms

FIS — Tue, 14 Mar 2023 16:00:00 +0800

Most financial institutions are well beyond the mom-and-pop store stage of their journey. And while this greater scale is good for business, it does make knowing their customer base almost impossible. And knowing the people an organization serves is essential if they are to continue offering the right products and services. But how does an institution get to know thousands of customers?

The answer is simple - they need a customer data platform.

In this episode of Financial Futures, we find out how customer data platforms are helping financial institutions (and indeed a whole host of businesses) to once again reconnect with their customer base. We'll learn how data is helping to shape new services and strengthen customer engagement, plus we'll hear about some of the out-of-the-box strategies organizations have utilized thanks to the insights they've gained through their CDPs.

Joining us today are senior director of full-stack solutions at TEKsystems, Peter Thum, and senior director of strategy and decision & data solutions at FIS, Brandon Richardson. Join us as we find out how CDPs fit into an organization's data strategy and how institutions can adopt the technology.

We'll also ask:

How do customer data platforms differ from traditional data warehouses?
Why do organizations need to understand their customers better?
How should organizations approach their customer data platform efforts?
Which organizations (and departments within those organizations) can benefit from a CDP?
What do institutions need to ask themselves before adopting a customer data platform?
How will CDPs continue to evolve?

Bringing banking core capabilities to the cloud

FIS, Erin Dangler, Nicole Lanza, Rick Foresta — Tue, 07 Mar 2023 16:00:00 +0800

At the center of every bank’s operation is its mainframe. These computing behemoths power all of a bank’s core processes, allowing institutions to function day to day. But mainframes the world over are facing some challenges. They’re becoming difficult to maintain with the talent pool of specialists qualified to keep them operational dwindling each year. Plus, the yearly cost of running them is high and likely to keep rising.

Banks need to upgrade their cores to a more sustainable and cost-effective technology - and the solution everyone is turning to is the cloud.

In this season of Financial Futures, we’re examining a new generation of intelligent tools that are making financial services fit for modern institutions and their customers. And in today’s episode, we’ll learn how banks are taking on the task of migrating their cores from the mainframe to the cloud.

We’ll be joined by banking cloud leader for North America at Accenture, Nicole Lanza, and division executive of modern banking platform business at FIS, Rick Foresta, as we find out why banks are choosing to move their cores to the cloud and how they’re de-risking the transition.

We’ll also ask:

How important is it for banks to move their cores to the cloud?
What are the benefits of having a cloud-native core?
Should banks opt for a public, private, or hybrid cloud model?
What are the risks involved in migrating banking cores?
How should banks approach the task?
What does having a cloud-native core look like?

Fortune Favours the Brave: Entrepreneurialism in fintech

FIS, Erin Dangler, Rich Wagner, Silvia Mensdorff-Pouilly — Thu, 01 Dec 2022 14:00:00 +0800

Creating a startup in any sector is a challenge. But given the level of technology, regulation, and specialist knowledge required, creating a successful business in the fintech space is even more complicated. But thanks to technology partners (and competitors that are always on the lookout for new innovations), visionaries in fintech don't need to go it alone when trying to bring their products to market, making entrepreneurialism in fintech a truly unique pursuit.

On today's episode of Financial Futures, we delve into the world of entrepreneurialism in fintech to find out how startups can set themselves up for success in the fintech space. We hear from an entrepreneur about their own journey to market and learn about the challenges and opportunities in the current investment climate.

Joining us today are CEO of Cashplus, Rich Wagner, and SVP of banking and payments Europe at FIS, Silvia Mensdorff-Pouilly. They reveal what makes the fintech space such a unique, lucrative and collaborative market for startups to break into, and Rich details his own journey of taking his idea to market. Plus we'll learn how technology partners can help startups to actualize their innovations.

We'll also ask:

What's it like being an entrepreneur in the fintech space?
Why is it important to keep your competitors close when bringing new products to market?
Which skills and attributes do entrepreneurs in fintech need to be successful?
What are the benefits of innovating during a time of market instability?
How do you spot opportunities to innovate?
What are investors' priorities when making investment decisions?

Helping FIs Help the World: ESG and BPO

FIS, Erin Dangler, Simon Penny, Silvia Mensdorff-Pouilly — Thu, 24 Nov 2022 14:00:00 +0800

ESG has become an increasingly important factor for investors over the years, but, recently, it's become a top priority for customers, and even employees, too. And with this increased pressure to be seen to be doing good, financial institutions are looking for new ways to improve their environmental, social, and governance credentials. However, finding ways to boost these efforts aren't always easy wins and organizations need help to work out where improvements can be made - and this is where transformative business process optimization can help.

In this episode of Financial Futures, we learn how transformative BPO is helping financial institutions not only to streamline their processes and find new efficiencies, but also how it is facilitating organizations' ability to meet their own ESG goals. We debunk some of the myths around BPO and we explore a real-life example of one institution's journey to better ESG through Transformative BPO.

Joining us today are sales lead of business process transformation and resourcing at FIS, Simon Penny, and SVP of banking and payments Europe at FIS, Silvia Mensdorff-Pouilly. We discuss why ESG is so top-of-mind for everyone from investors to customers, and we reveal why good ESG starts with a thorough self-assessment of processes.

We'll also ask:

How do ESG and transformative BPO go hand-in-hand?
What is the difference between transformative BPO and outsourcing?
Why is ESG important for financial institutions?
Where can transformative BPO help financial institutions?
How should organizations evaluate their ESG strategies?
Why is it important for institutions to appoint their own head of ESG?

Financial Education for Kids: Creating a financially inclusive society

FIS, Erin Dangler, Louise Hill, Silvia Mensdorff-Pouilly — Thu, 17 Nov 2022 14:00:00 +0800

Forming good habits takes time. But for some young people, forming the right ones around managing finances happens either far too late, or not at all. And as new financial products emerge, and as our relationship with cash becomes more abstract, the task of teaching children how to manage money is getting more complicated. So complicated in fact, that even the schools can't keep up. But what if learning how to balance the books wasn't just left up to the schools? What if institutions could help share the load?

In this special three-part series of Financial Futures, we're exploring the work FIS is doing by partnering up with fintechs and entrepreneurs to shape the future of the financial services industry. And on today's episode, we learn how one institution is taking on the mission of teaching young people how to manage money, and we ask who should be responsible when it comes to educating children about finances. We also find out how good financial education helps to promote financial inclusivity, and we discover the societal benefits that come with having a money-matter-savvy young population.

We'll be joined by co-founder and COO of goHenry, Louise Hill, and SVP of banking and payments Europe at FIS, Silvia Mensdorff-Pouilly, to discover how goHenry is bridging the financial education gap in young people's learning, and to find out how the financial services industry is proactively trying to foster a more financially inclusive society.

We'll also ask:

How does better financial knowledge help in securing a better future for young people?
What do institutions need to do to create a financially inclusive society?
How do we teach children to form good money-management habits?
What are the pillars of strong financial education?
Who is responsible for teaching young people to manage money?
How has going cashless affected children's understanding of money?
How is goHenry helping young people to learn about money in a safe environment?

Disruptive Themes and Key Trends

FIS, Erin Dangler, Ed Barker — Thu, 10 Nov 2022 14:00:00 +0800

For every successful technological solution, there are dozens more relegated to history. Betamax, Zune mp3 players, Google Glass. All three were part of industries that saw enormous success (home video, digital music, and augmented reality); however, these products never won the battle for supremacy. So what separates the successes from the failures? What makes a trend long-lasting? And how do you determine which new technologies to place your investment dollars in?

In short, how do you identify the right disruptive themes and key trends?

In this episode of Financial Futures, we examine the emerging trends, themes, and technologies that could form the groundwork for the future of financial services. We find out how institutions can distinguish between game-changing trends and flavors of the month, and we ask what organizations can do to future-proof their investments and back the right emerging technologies.

In today's episode, we speak with Vice President of Future Exploration and Ventures at FIS, Ed Barker, to find out how institutions can look to the past to make better predictions about the future. And we'll find out how investors and fintech founders can set themselves up for success in economically volatile times.

We'll also ask:

How can financial institutions separate important trends from all the noise?
What are the current themes affecting the financial services sector?
How could emerging technologies transform the way consumers interact with financial services?
What will the rise of embedded finance mean for traditional financial institutions?
How will the cooperation between startups and corporates drive the evolution of fintech?

Finance 2030

FIS, Erin Dangler, Stephane Wyper — Thu, 03 Nov 2022 14:00:00 +0800

The next generation of fintech is just around the corner. Gen one brought financial institutions greater technological integration during the dot-com boom, and gen two delivered traditionally in-person functions digitally thanks to the use of APIs and the cloud. But gen three will bring the financial services industry into a new era, building upon the successes of gen one and two to enable the greatest user and institution experience yet.

In this episode of Financial Futures, we take a look at the development of financial services over the last 30 years and examine the advances taking place to define the future of finance into 2030 and beyond. We learn all about the technological milestones and societal shifts that are influencing change within the fintech industry, and we’ll hear how institutions will respond to changing consumer attitudes and the never-ending innovations within the financial space.

In today's episode, we speak with SVP and global head of venture investment at FIS, Stephane Wyper to find out what gen 3 will mean for customers, institutions, and even society. We'll explore the advances and attitudes that will shepherd in this new age of fintech and find out how the digital and physical will combine, making financial services truly omnichannel.

We'll also ask:

What is fuelling innovation and the change in customer attitudes?
What are the factors affecting new technology adoption?
Where do cloud and API technology fit into the third generation of fintech?
What is developer-less integration?
What will the financial services industry look like in 2030?
What is the future of brick-and-mortar banks and financial institutions?

Building Better Businesses

FIS, Erin Dangler, Ash Bhatia, James Clayton — Thu, 27 Oct 2022 14:00:00 +0800

Game-changing ideas don't come along very often. But when they do, organizations need to develop them fast or risk missing out on the opportunity they present. But, very often, fintechs and other financial institutions don't have the time or resources to develop innovations when they present themselves, meaning opportunities go unrealized. So if organizations really want to bring in new capabilities they can't just leave it to chance and hope that someone else will develop breakthrough services or products for them - they need to do it themselves.

In this episode of Financial Futures, we'll learn about the inorganic business-building method fintechs and financial institutions are using to fold in new capabilities to their service offering. We'll discover how the venture studio technique is de-risking the startup model, allowing institutions to create new products and solutions and bring them to market while protecting their own resources and investment capital.

Join us, along with CEO of Shipyard Innovation, Ash Bhatia, and VP of Venture Studio Investments at FIS, James Clayton, as we find out why the venture studio model is a recipe for building successful businesses. And we'll learn about a real example of a startup currently going through the inorganic business-building method to find out what the process looks like from the inside

We'll also ask:

Why is creating businesses with the venture studio model less risky than investing in a startup?
What is the recipe for building better businesses?
How do you choose the right partner to build a business with?
What are the challenges associated with the venture studio model?
Who is using the venture studio model to create startups?
How do you choose an executive team to lead a new business?

Innovation as a Service

FIS, Erin Dangler, Adrian Sturley, Jason Williams — Thu, 20 Oct 2022 14:00:00 +0800

Great innovations don't come along every day. And, usually, these ideas can't be fully realized unless the right conditions are met. Funding needs to be available, key players need to have free time, and resources need to be ready to go if any new solution or technology is to have a chance of getting off the ground. And, traditionally, chance is precisely what it came down to.

But now there's a new way to innovate. A method that doesn't rely on Goldilocks conditions for any hope of success. It's innovation for the 21st century. It's innovation as a service.

In this episode of Financial Futures, we explore innovation as a service (IaaS) and learn how this structured and methodical approach to innovation is helping financial institutions accelerate their GTM strategies for new solutions and making innovation equitable. We'll discuss how IaaS works, plus we'll learn where the need for rapid innovation has come from and why the traditional approach to innovating is no longer enough when it comes to ideating and creating new offerings.

Join us as we learn about the innovations that are already helping institutions to remain competitive with a little help from vice presidents of Impact Ventures at FIS, Adrian Sturley, and Jason Williams.

We'll also ask:

How is IaaS bridging the gap between fiat and cryptocurrency?
Why is speed critical when it comes to delivering innovation?
How does innovation work in an "as a service" model?
What does the future of innovation look like?
How do organizations identify when to stop, implement and abandon innovation?
What does the IaaS process look like?

Accelerator Programs

FIS, Erin Dangler, Chris Barry, Elaine Duff — Thu, 13 Oct 2022 14:00:00 +0800

Getting any business off the ground isn't without its challenges. And while investment can be a big hurdle to overcome, it isn't the only one. Securing industry expertise, acquiring customers, gaining access to the right tech - these are just a few of a whole host of challenges startups need to solve in order to bring their innovations to life. But rarely can startups find all of these resources from one source, unless they look to accelerator programs.

In this season of Financial Futures, we'll be finding out how financial institutions and their partners are stepping up their innovation efforts to shepherd in the next generation of fintech. And in this episode, we'll learn how accelerator programs are helping to fuel this new age of ingenuity.

Join us as we find out what separates accelerator programs from other investment models with a little help from innovation product manager at FIS, Chris Barry, and senior vice president of Impact Ventures at FIS, Elaine Duff. We'll ask what it is that makes accelerator programs so unique (and so effective), and we'll find out how ESG goals are driving innovation between accelerators and their partners.

We'll also ask:

What are the benefits for fintechs who partner with accelerators?
How do fintechs choose the right accelerator?
Why is it important for fintechs and accelerators to share the same values?
How are minorty-owned businesses leading the charge on ESG standards?
What benefits, other than investment, do accelerators bring to startups?

And for more information on the FIS Fintech Accelerator Program, head over to https://www.fisglobal.com/en/fis-fintech-accelerator

Banking as a Service: Customer acquisition without boundaries

FIS, Erin Dangler, Barbara Negron, Eric Guion — Thu, 18 Aug 2022 19:25:00 +0800

Growing a customer base is one of the toughest challenges any business will face - and regional banks are no exception to that rule.

For many organizations, a good marketing campaign or the opening of a new brick-and-mortar location might encourage the kind of expansion they're looking for but results aren't guaranteed. However, banks don't have to rely solely on flashy ads or opening new branches because there's another solution to their growth ambitions - banking as a service.

In this season finale of Financial Futures, we'll be putting BaaS under the microscope to find out how regional banks are using this unique facility to drive expansion and create mutually beneficial relationships between themselves and other businesses. We'll hear from director of product management for banking as a service at FIS, Barbara Negron, and business unit manager for APIs and integrations services at FIS, Eric Guion, about how BaaS is helping banks to acquire new customers beyond their usual reach. We'll also discover what differentiates BaaS from embedded finance and learn about the relationships and ecosystems that facilitate banking as a service.

We'll also ask:

What is the difference between 'for benefit' and 'on-core' BaaS?
Why is BaaS one of the best distribution tools available to regional banks?
How does BaaS reduce the cost of acquiring new customers?
Why does risk need to be top of mind for banks considering BaaS?
How can BaaS help regional banks to use other businesses' brand loyalty to grow their own customer base?

Open Banking: The hidden gem of financial management

FIS, Erin Dangler, Eric Guion — Thu, 11 Aug 2022 19:00:00 +0800

It's not uncommon for people to bank with more than one provider. Add into the mix mortgages, finance agreements, insurance, or any of the other countless financial products we all purchase, and it doesn't take long to get overwhelmed by the incredible number of services we need to keep on top of. Because with every product comes a new platform, a new username, and a new login - making it almost impossible to get a snapshot of what your daily finances actually look like.

But there is a solution - one that's been in the making for nearly thirty years. And it's called open banking.

In today's episode of Financial Futures, we find out how open banking is helping regional banks to innovate and evolve and how it's giving customers visibility of, and control over, all their financial products. We'll discover how open banking has evolved since its first iteration in the 90s and we'll find out why giving customers exposure to competing products is actually a good thing for regional banks. So join us as we speak with FIS's business unit manager for APIs and integration services, Eric Guion about why open banking adoption has soared in recent months and explore all the possibilities that this cutting-edge tech will afford regional banks.

We'll also ask:

What do banks need to consider before adopting open banking?
How is open banking helping regional banks to expand and grow?
What is the difference between open banking and screen scraping?
How safe is open banking?
What has led to the rise of open banking?

Cryptocurrency: A new frontier for regional banking

FIS, Erin Dangler, Fiaz Sindhu — Thu, 11 Aug 2022 15:20:43 +0800

Crypto used to be the counterculture currency of choice. Giving participants an alternative to the centralized monetary systems of nations, cryptocurrency allowed those in the know a way to transact and invest without the use of fiat currency. But in recent years, cryptocurrency has emerged from the realm of alternative investments and found its place in the world of mainstream finance. And with so many platforms offering retail and commercial customers a way in, banks of all sizes are seeing an opportunity to tap into this rapidly growing market.

In today's episode of financial futures, we speak with head of new business strategy for America's banking solutions at FIS, Fiaz Sindhu. We examine the past and present of cryptocurrency and ask what opportunities the tech poses for the future of regional banking. We'll find out how this once alternative financial product has made its way into the mainstream, attracting both private and corporate interest. And we'll explore the ways in which regional banks can adopt decentralized finance and discover what they need to do in order to serve their own crypto clientele.

We'll also ask:

What is happening in the world of cryptocurrency and what does the future look like?
Who is driving crypto adoption and why are customers so excited about it?
What are the cultural, technological, and regulatory considerations banks need to make when adopting cryptocurrency?
How can regional banks determine what their own customers' crypto needs are?
Who can banks turn to for guidance on how to implement cryptocurrency solutions?

Regional Banks: How to future-proof a financial institution

FIS, Erin Dangler, Nicole Pienkos, Mike Gravelle — Thu, 28 Jul 2022 19:00:00 +0800

Like many organizations, regional banks are experiencing a time of rapid change. In the wake of a pandemic, and in order to keep up with an increasingly digitized society, these institutions need to augment their services to remain competitive among other banks and appeal to societal shifts. But regional banks don't need to go on this journey of transformation alone, with fintechs and other partners at the ready to help them make sense of the evolving retail banking industry and to help them adopt modern solutions.

In today's episode of Financial Futures, we'll be joined by senior vice president and group executive of regional banking at FIS, Nicole Pienkos, and vice president and business executive at FIS, Mike Gravelle. We'll be exploring the challenges that are facing regional banks and examining some of the solutions and opportunities that are emerging out of this period of innovation. We'll also find out what sets regional banks apart from the community and national banks and take a look at what makes them uniquely suited to address the financial needs of their customers. Plus, we'll hear how having the right tech partners helped regional banks to rapidly adapt to the hurdles presented by the pandemic, and we'll find out how they're carrying those lessons through to serve an increasingly digitized society.

We'll also ask:

How are data insights driving regional banking innovation?
Why could digitization be one of the keys to addressing gaps in the workforce?
What do banks need to consider when adopting new technologies?
Why is it important to have good fintech partners?
Why were regional banks instrumental in the payment protection program during the pandemic?

Robotic Process Automation: Unlock the Potential of your Workforce

FIS, Erin Dangler, Carl Bahneman — Thu, 21 Jul 2022 14:00:00 +0800

Regional banks find themselves in a unique space within the financial services industry - not as localized as a community bank, but not as ubiquitous as the nationals. Operating in this sector presents these institutions with a host of challenges faced by both larger and smaller institutions alike, but it also opens them up to a myriad of opportunities. And that's exactly what we'll be looking at in this season of Financial Futures.

Simply the mention of automation is enough to strike fear into the heart of a workforce. But while sci-fi movies would have us believe that the machines are here to replace us, in reality, they're actually here to help - taking on the mundane and repetitive tasks so that people can focus on the more meaningful and important work that only they can do.

Robotic Process Automation (RPA) is a powerful tool, bringing efficiencies to regional banks throughout the US. And the benefits this technology brings go far beyond simply eliminating the menial day-to-day processes.

In this season premiere, we speak with Carl Bahneman, Business Unit Manager at FIS, all about robotic process automation and the value it offers to regional banks. We discuss what kind of tasks can be automated to improve efficiencies, and Carl explains how just thinking about incorporating bots can reveal new opportunities for time-saving.

We’ll also ask:

Why is it important to write out your organization's processes?
What are the differences between buying and building bots?
Why are regional banks looking to RPA?
What kind of bots are available to regional banks?
How can financial institutions prepare to integrate RPA into their businesses?

More Than Just Currency: The Crypto and Blockchain Revolution

FIS, Erin Dangler, John Avery, Patrick Sells, Richard Walker — Thu, 24 Mar 2022 14:00:00 +0800

The world has cryptocurrency on the brain. And with new coins being released, seemingly, every day, and mammoth losses and gains occurring among the most popular cryptocurrencies, it’s no wonder why. And where some see danger in those troughs and peaks, others see opportunity - opportunity not just in the financial gains to be had, but in the blockchain technology behind these digital currencies. Indeed, crypto and blockchain might not just have the potential to diversify investors’ asset portfolios, they might actually be poised to completely evolve our financial ecosystem.

In this episode, we’ll be joined by John Avery, senior strategy director at FIS; Patrick Sells, CIO at NYDIG; and Richard Walker, principal at Deloitte. We’ll explore what has caused the surge in popularity of cryptocurrency and blockchain technology, and we’ll discuss what the long-term impacts of these could be. We’ll also look at the potential implications of more widely adopting a decentralized finance model and examine whether crypto and blockchain could herald the demise of cash.

We’ll also ask:

How are financial institutions and the capital markets reacting to crypto and blockchain?
What are the drawbacks of a centralized financial system?
How are different generations adopting cryptocurrency?
Why are everyday savers, as well as high-net-worth investors, attracted to crypto?
Could the world be moving away from fiat money do de-fi?

Enterprise Collections: Modernizing and humanizing debt recovery

FIS, Erin Dangler, Dale Williams, Guy Hammon, Michael Peretz — Thu, 17 Mar 2022 14:00:00 +0800

In one form or another, most people have debts. It is, in many ways, an everyday part of life. Yet debt carries a considerable amount of stigma with it, which can have a negative impact on people’s willingness to seek out ways to manage it. And it’s not that people don’t want to pay, in fact, in most cases the opposite is true, but outdated procedures, unfit technological solutions, and seemingly unempathetic customer service representatives create significant barriers - barriers that must be removed in order to modernize and humanize enterprise collections.

On today’s show, we’ll be speaking with Dale Williams, CEO of Telrock Systems; Guy Hammon, general manager of enterprise lending at FIS; and Michael Peretz, housing finance practice lead at Capco. Join us as we explore the modern solutions that are reshaping enterprise collections and improving debt recovery for institutions and customers. We’ll discover why poor communication can drastically damage an institution's ability to recover funds, where current enterprise collection solutions currently fall short, and how improved tech solutions can better human interactions and, therefore, debt recovery.

We’ll also ask:

How has COVID impacted the technologies associated with enterprise collections?
What, other than technology, is the key to providing a better experience for those in debt?
How is the landscape in B2B enterprise collections changing?
Why does empathy need to be at the core of debt recovery?
What do organizations need to consider when bringing enterprise collections in-house?

Financial Wellness: How to create a financially-savvy community

FIS, Erin Dangler, Nicole Meyers, Nick Woodcock, Eric Bittel — Thu, 10 Mar 2022 14:00:00 +0800

Saving used to be simple. But as our society has advanced, so have our financial needs, which has made things a lot more complicated. Phone contracts, tuition fees, direct debits for endless streaming services - the list of bills we have to manage seems to be constantly growing, and savings accounts and piggy banks are no longer enough to help us reach our financial goals. The challenge of keeping our finances in order has evolved, and now we need to embrace new tools and a new mindset if we’re to regain control over our financial wellness.

In today’s show, we’ll be speaking with Nicole Meyers, vice president of strategic account management at Personetics; Nick Woodcock, digital banking executive at FIS; and Eric Bittel, wealth management practice lead at NTT Data Services all about the role financial institutions play in financial wellness. We’ll find out how fintechs are helping customers to improve their financial health, and look at some of the new (and potential) tools and services that are helping to put people back in control of their funds.

Join us as we discuss why so many of us feel financially unwell, and what some of the barriers are that stop people from building better saving habits and improving their financial literacy. We’ll also ask:

How are financial institutions promoting financial wellness programs?
What are the societal impacts of poor financial literacy?
What are fintechs doing in this space to better serve the individual?
How do you create engaging, socially-minded, and financially viable wealth management platforms?
What does the future of financial wellness and wealth management look like?

BNPL: Protecting business and consumer cash-cushions

FIS, Erin Dangler, Nathan Hilt, Amanda McBee, Mickey Lynch — Thu, 03 Mar 2022 14:00:00 +0800

When it comes to purchasing big-ticket items, our spending options have, traditionally, been pretty limited. Either scrimp and save until we can afford what we want, or borrow the money through a loan or finance agreement and pay even more in interest fees. But thanks to the myriad of terms and conditions and strict eligibility requirements, getting access to these products can be difficult. But a new product has made its way onto the spending scene over the last few years, providing customers with another, much-needed solution - buy now, pay later.

In today’s episode, we’ll be joined by Nathan Hilt, Managing Director and Payments Industry Leader at Protiviti, Amanda McBee, BNPL GTM Solutions Director at Amount, and Mickey Lynch, Product Management Executive at FIS. They’ll be discussing how BNPL is helping both consumers and businesses stay in control of their cash flow, and they’ll reveal how banks, fintechs, and even merchants, are innovating in this space to provide new BNPL products.

We’ll also ask:

What does the BNPL customer journey look like?
Which customers have been championing BNPL and how has this payment method been received by different generations?
How are BNPL products evolving and what kind of innovations are emerging?
How is BNPL helping businesses when it comes to their cash cushion and customer base?
Is BNPL here to stay?

Fintech Ecosystem Innovation: Financial Service Platforms Evolved

FIS, Erin Dangler, Andrew Beatty — Thu, 24 Feb 2022 14:00:00 +0800

Financial institutions, businesses, and customers are seeing dramatic advances in the tools and services they use at an ever-increasing rate. As demand for immediacy and convenience continues to grow, fintechs are rising to the challenge to deliver more and more banking solutions at the points where people need them most. But behind the multitude of new apps and services, the most impressive changes are taking place in the fintech ecosystems powering these tools.

In this season of Financial Futures, we’ll be exploring some of the latest innovations in the fintech landscape that are paving the way for BNPL and crypto, enhancing enterprise collections, and improving customer financial wellness. And on today’s show, Division Executive and Head of Enterprise Banking at FIS, Andrew Beatty, joins us to discuss how the institutions and ecosystems supporting these advances are evolving.

We’ll be asking Andrew how financial institutions need to adapt in order to keep supporting modern customers and their increasing needs. He also discusses how fintechs are strengthening banks’ offerings, and how these new relationships are benefitting all parties, from institutions to customers.

We’ll also ask:

What has led to the rise of challenger banks and non-traditional banking services?
How are fintechs helping banks to bring new solutions to customers?
What should institutions consider when it comes to core banking transformation?
What does the increased collaboration between fintechs, banks and businesses mean for the end consumer?

Fighting Fire with Fire: Risk and Compliance in a Chaotic Era

FIS, Erin Dangler, Kyle Gardner, Niv Bodor — Tue, 19 Oct 2021 02:00:00 +0800

As regulators clamp down and criminals become more sophisticated, the roles of Chief Compliance Officers and Chief Risk Officers are becoming more complex. CROs and CCOs are the strongest lines of defense for financial institutions, but in order to carry on protecting their firms, they must embrace technology in order to manage the ever- increasing number of risks they face. But what are the solutions keeping them a step ahead of the fraudsters? And how are these technologies affecting CROs and CCOs day-to-day?

In the season 6 finale of Financial Futures, we speak with Senior Manager of Advisory Technology Risk at Deloitte, Niv Bodor, and Senior Vice President & Group Executive at FIS Compliance Suite, Kyle Gardner, about the evolution of compliance and risk. We dig into the current and emerging issues affecting CROs and CCOs and take a look at how technologies such as AI are helping to tackle crime and keep institutions compliant.

We discuss how contemporary issues such as free-trading platforms and the prevalence of the work-from-home model are creating new challenges for CROs and CCOs. We also look at how the changing demands of regulators are putting firms under increased compliance pressures and reveal how AI could hold the solution. And we find out how institutions can utilize unstructured data to help fight fraud. We'll also ask:

How are changing trader demographics affecting the role of CROs and CCOs?
What are the emerging risks to the capital markets beyond the pandemic?
How will CROs and CCOs have to change to meet the demands of regulators?
Why is people-power alone not enough to keep up with modern risk and compliance issues?

AI and Innovation: Accelerating Digital Transformation

FIS, Erin Dangler, Ed Abbo, Tony Warren — Tue, 12 Oct 2021 02:00:00 +0800

Technology is advancing at a blistering pace and it's causing clients to ask for more from institutions in the capital markets. Investors want access to real-time data and insights and they want this service packaged up in slick, smartphone-like experiences. And if buy and sell-side firms want to meet these needs, they'll have to adapt and upgrade their own systems and embrace technologies such as artificial intelligence and machine learning.

In this episode of Financial Futures, we speak with President and CTO of C3AI, Ed Abbo, and Executive Vice President and Head of Strategy and Solutions Management at FIS, Tony Warren, about the changing stakeholder demands in the capital markets. And we take a look at AI, machine learning, robotic process automation and more to discover how these technologies could hold the solution.

Join us as we examine where these once futuristic technologies are being harnessed in the capital markets already. We also explore the pain points for buy and sell-side firms and discuss which processes and systems need to be updated in order for firms to continue to grow. And Tony and Ed share their predictions for these technologies and give us their advice on how firms should engage in this digital transformation. We'll also ask:

How are emerging technologies, such as blockchain, prompting digital transformation?
What major disruptors do firms need to prepare for?
How can AI help institutions keep up with regulations?

Frontrunners of Modernization: BPaaS and the Cloud

FIS, Erin Dangler, Alvin Huang, Tara Winters — Tue, 05 Oct 2021 02:00:00 +0800

The capital markets must look to the future. As institutions generate more data and clients demand more insights, it won't be enough for firms to rely on legacy systems. With solutions such as BPaaS and Cloud computing, institutions have hope. By streamlining data processes through modern BPaas solutions, firms in the capital markets can regain their competitive edge and maintain the resilience they need to move forward.

In today's episode, we speak to Capital Markets Specialist for Worldwide Financial Services Business Development at Amazon Web Services, Alvin Huang, and Head of Global Managed Services for FIS Capital Markets, Tara Winters. We dive deep into the avenues for growth in order to understand how institutions can benefit from branching into emerging markets and by adopting newer technological systems.

We discuss the mechanics behind BPaaS and Cloud computing, and how financial institutions, in wake of the pandemic, have newfound avenues for business growth. We'll look at the processes behind data migration and explore the factors firms may need to consider with the rise of new client and scaling challenges. We'll also ask:

How can BPass and cloud computing improve efficiency?
How are firms using public and private clouds?
Which processes should firms be migrating to BPaaS and the cloud?

ESG: Making Business Better

FIS, Erin Dangler, Tony Warren, Andrew Ciafardini — Tue, 28 Sep 2021 02:00:00 +0800

Move over ROI. ESG is the hottest abbreviation in the capital markets now. Environmental, social and governance ratings aren't just the mark of a sustainable organization, to some extent, they're even a strong indicator of a good investment. And with societal expectations and investor demands changing, firms in the capital markets need to have these investment options in their portfolio if they want to keep clients happy.

In today's episode, we speak to Executive Vice President and Head of Strategy and Solutions Management at FIS Tony Warren, alongside Chief Sustainability Officer and Head of Global Public Policy at FIS Andrew Ciafardini. We get granular and ask how ESG investments are impacting the institutions offering them as well as the risk and fund managers who manage them.

We discuss the key components of ESG and the benefits these investments have on the institutions offering them. We'll explore what's prompting firms to center their attention on ESG, as well as look at the challenges surrounding ESG scores and the numerous disparate rating standards. We'll also talk about:

What should risk and fund managers be doing when educating their clients?
Why is the expectation for ESG investments so significant?
How are ESG factors measured?

Never More Than Now: Data, Digitization and the CX

FIS, Erin Dangler, John Avery, Rupesh Khendry — Tue, 21 Sep 2021 02:00:00 +0800

The capital markets are constantly evolving. But when the world had to overcome the challenges thrown up by the pandemic, that evolution accelerated exponentially. Almost overnight, employees went remote, meetings moved online, and an entire industry realized that the key to resilience depended on the ability to provide premium customer experiences through digitization powered by centralized, seamlessly accessible data.

In this season of Financial Futures, we'll be looking at the challenges and opportunities facing the capital markets and asking how institutions should prepare in order to stay competitive in this ever-changing industry. Today, we'll be finding out about the present and future of customer experience, digitization, and data with help from Microsoft's Global Financial Services Strategy and Solutions Leader, Rupesh Khendry, and FIS's Senior Director of Sell-Side Strategy, John Avery.

We'll be asking Rupesh and John what some of the core pain points are for institutions (and their clients) in the capital markets when it comes to digitization. And they'll share their thoughts on which solutions will allow both firms and their customers to seamlessly access data to get insights faster than ever before.

We'll also talk about:

How should institutions approach the challenge of digitization?
What is the true cost of siloed data?
Why is digitization crucial to both the customers of today and the workforce of tomorrow?
How could technologies such as AI and ML be leveraged with the help of frictionless data?

The Future of Financial Wellness

FIS, Erin Dangler, Brian Fey — Thu, 10 Jun 2021 17:00:00 +0800

A recent study done by the American Psychology Association found that nearly 2 in 3 adults say that money is a significant source of stress in their life. This financial stress is an epidemic issue, affecting both individuals and communities alike. But according to Brian Fey, Senior Director, Digital Banking at FIS, better education on managing money might be the solution to widespread stress. He says financial wellness programs are “a tangible way that we're helping the community get better by improving their financial health.”

In this season 5 finale of Financial Futures, FIS’ Brian Fey joins us to explain what a financial wellness program is, and how it can help relieve anxiety money often brings. We’ll look at the history of these initiatives and how banking’s digitization transformation has changed financial education efforts.

We’ll also cover:

How does financial stress affect an individual?
How can banks start their own financial wellness programs?
How did COVID-19 change our approach to financial wellness?

Your digital transformation is not optional–it’s necessary

FIS, Erin Dangler, Nick Woodcock — Thu, 03 Jun 2021 17:00:00 +0800

So far in this fifth season, we’ve explored the nuances of the digital transformation. We’ve looked at real-time posting trends, changes in commercial banking, and the new digital reality of retail lending. But in this episode, we’re asking why digitize now? Nick Woodcock, Senior Vice President, Group Executive, Digital Banking, at FIS says that for banks, “it’s a matter of competitive survival.”

COVID-19 expedited this need for digital services–mobile signups and transaction volumes significantly increased in the last year. How are banks adapting to this high demand, and what can they do to start their switch to digital? We’ll also look at:

How has the definition of digital evolved over time?
What makes a good digital customer experience?
How will branch banks be utilized in the digital future?
How are some financial leaders approaching their digital transformation?

Retail Lending in a Digital Reality

FIS, Erin Dangler, Andrew Beatty — Thu, 27 May 2021 18:00:00 +0800

In a digital era, consumers don’t want to wait too long, no matter what the product. Whether they’re streaming a television show or applying for a retail loan, we expect instant availability. Andrew Beatty, Senior Vice President of Next Generation Banking at FIS, says that financial institutions need to be paying attention to these expectations: “if the consumer is dictating the pace of change, financial institutions, merchants, and retailers all have to evolve towards that.”

In season five of Financial Futures, we're focusing on banking's digital transformation, and why the switch to digital is no longer just nice to have––it's a necessity. We'll unpack what this digitization trend looks like for banks, consumers, and communities.

Retail loans have helped consumers for generations make big purchases. In this episode, we’re looking at how the retail loan process has adapted to changing consumer trends, digitization efforts and the pressures of a global pandemic. We’ll also look at:

How has the influx of PPP loans affected credit metrics?
What role are Fintechs playing in the digital transformation of retail lending?
How has the influx of new data changed loan decisioning?

Are banks ready for real-time?

FIS, Erin Dangler, Matt Lessig — Thu, 20 May 2021 17:00:00 +0800

The way we bank has evolved from brick-and-mortar branches to an almost completely digital customer experience. So how will the next generation bank? According to Matt Lessig, Vice President of Next Generation Banking at FIS, real-time banking is the future of how money will move.

In season five of Financial Futures, we're focusing on banking's digital transformation, and why the switch to digital is no longer nice to have––it's a need. We'll unpack what this digitization trend looks like for banks, consumers, and communities.

In this episode, we’re talking about real-time banking with Matt Lessig. Matt explains what real-time solutions are available for financial institutions and how they’re being implemented. What role are fintechs playing in this switch? We’ll also talk about:

How did the posting process traditionally work?
What’s the difference between memo posting and real-time posting?
How does real-time banking cut costs?
What are some roadblocks to making the real-time switch?

The digital transformation of commercial banking

FIS, Erin Dangler, Brian McCumber — Thu, 13 May 2021 18:00:00 +0800

Thanks to digitization efforts, commercial banks have weathered the storm of COVID-19. Contactless payments, mobile deposits, and remote services kept money moving and businesses afloat in 2020. But, according to Brian McCumber, CPA, director of Next Generation Banking at FIS, even as financial institutions quickly pivoted, the fundamentals of banking remained steadfast.

In this season of Financial Futures, we're focusing on banking's digital transformation. Digitization is no longer optional for financial institutions––it's necessary. We'll unpack what this trend actually means for banks, consumers, and communities alike.

In this episode, Brian McCumber, CPA, director of Next Generation Banking at FIS, explains how commercial banks have adapted in the past year and the challenges they still face ahead. We’ll explore how the commercial customer experience changed and the three major priorities for commercial banks.

We’ll also talk about:

What are some bright spots of the commercial banking sector?
How are commercial banks implementing government support schemes?
What role are fintechs playing in the digital transformation of commercial banking?
What are the fundamentals of commercial banking?

How To Utilize Big Data

FIS, Erin Dangler, Pete Hilger — Thu, 25 Mar 2021 18:00:00 +0800

Every day, humans produce 2.5 quintillion bytes of data (that's 2,500,000,000,000,000,000 if you're curious how many zeroes that entails). And a large portion of that isn't the usual emails, tweets, and YouTube uploads - it's data we generate in the background as we go about our lives. It's location data, transaction data, credit card usage data, cookies, search histories and so much more. And as useless as this data might seem to us, to our financial institutions it offers a unique and valuable insight into the products and services we use, allowing them to better predict and meet our needs.

This is the vast and almost incomprehensible world of big data. And in the season finale of "Financial Futures" we'll be looking at how credit unions can use big data to better serve their members.

Pete Hilger, CEO and President of Allied Solutions explains what kind of data credit unions are interested in and shares with us how they can use it to offer members tailored services. We also explore how credit unions can use big data to better assess loan risks and personalize lending rates, and how they can use it to make better-informed decisions on lending, rather than relying on a small number of metrics such as credit scores.

Join us in this episode as we take a deep dive into big data and discuss:

How credit unions are uniquely positioned to take advantage of big data.
What benefits, other than more accurate risk measuring, will the incorporation of big data have on credit unions and members.
How big data can positively impact marketing efforts as well as create more relevant financial products.
What credit unions need to do to take advantage of big data now and how it can help them remain competitive in the crowded lending landscape.

DEI in Credit Unions

FIS, Erin Dangler, Angela Russell — Thu, 18 Mar 2021 18:00:00 +0800

All around the world, the push for equality has accelerated in recent years. People want to see themselves represented in the institutions they patronize, and they want fair treatment and equal opportunities in the workplace. Diversity, equity, and inclusion (DEI) is what businesses, employees, customers, and members are calling for. But it's not just about ticking boxes and meeting quotas - it's been proven to have a hugely beneficial impact for businesses and their customers, improving collaboration, problem-solving, and helping to attract and retain a larger customer base.

In this episode of "Financial Futures", we discover what DEI actually is and ask what improved DEI can do for credit unions and their members. We also explore where credit unions are ahead of the curve, where improvements can be made, and how they can increase their levels of diversity, equity and inclusion.

Angela Russell, Vice President, Diversity, Equity and Inclusion at CUNA Mutual Group says that 'compliance does not always equal inclusion' and that organizations need to go further than doing what is required to be truly inclusive.

We talk about:

Why is DEI so relevant right now and why is it important for the future of credit unions?
How can diverse leadership teams positively impact credit union staff and members?
Why it's important to get comfortable with having uncomfortable conversations.
Who should shoulder the responsibility of advocating for DEI?

P2P Predictions

FIS, Erin Dangler, Al Ko — Fri, 12 Mar 2021 00:38:06 +0800

Peer-to-peer payment platforms aren't a new concept. In fact, we've had the ability to move money through apps as far back as 2008. But the system was fractured and only adopted by individual institutions or small groups. Now the P2P landscape is unrecognizable from what it once was. Zelle has unified credit unions and banks, offering a one-size-fits-all solution for peer-to-peer payments. And along with technological changes, attitudes towards the platform have changed too, thanks in no small part to the pandemic and people's need to transfer funds cleanly and conveniently.

In this episode, we take a look at how the pandemic has impacted P2P payments and ask what's in store for Zelle and the institutions using it. Al Ko, CEO of the company behind Zelle, Early Warning, says that, at just three years old, Zelle is 'a large toddler', but with over 800 banks and credit unions using its platform already, it's growing fast. Al guides us through the opportunities P2P offers to credit unions and what the future of peer-to-peer payments could look like. We talk about:

How the pandemic has prompted credit unions to increase digital engagement through Zelle.
Why the nature of transactions made through P2P are changing.
How Zelle can help credit unions to remain competitive and relevant.
Why credit unions need to offer digital P2P services and why digital members offer more value.
What the current trends in the adoption of Zelle indicate about the platform and the technology's future.

Harnessing the Power of AI

FIS, Erin Dangler, Jill Mason — Thu, 04 Mar 2021 19:00:00 +0800

AI is inching more and more into our daily lives, and one area it's having a profound impact on is our financial institutions. With its ability to learn from interactions and mimic human behavior, credit unions in particular stand to benefit the most from this rapidly advancing technology. And with uses in both customer-facing roles and behind the scenes, AI is looking set to elevate the member experience of credit unions.

In this episode of “Financial Futures,” we find out what exactly AI is, where the technology can be deployed, and how credit unions can take advantage of it.

Jill Mason, Director of Business Transformation, Robotics and AI for FI Payments at FIS, explains how humans and artificial intelligence will work together within institutions, what AI can do to improve security, and how machines will deepen relationships between members and credit unions.

We'll also discuss:

How AI will better account-holder experience.
Why better chatbots are key to a more personal service.
How FIS' AI chatbot, Mel, is already helping its customers.
The areas in which credit unions can adopt AI to benefit both their employees and members.

Card Payment Evolved

FIS, Erin Dangler, Matt Collicoat — Thu, 25 Feb 2021 19:00:00 +0800

Over the last few years, contactless card payment adoption has skyrocketed thanks to universal concern over hygiene and the need for convenience. As we explore the technology and issues that are shaping the credit union industry, we'll ask Matt Collicoat, VP of Strategy for Cards and Money Movement at FIS what some of the emerging technologies are and how they will benefit credit unions and their members.

Over the last few years, contactless card payment adoption has skyrocketed thanks to universal concern over hygiene and the need for convenience. But the digital payment landscape is still adapting and advancing. Even the once futuristic contactless cards now look relatively low-tech thanks to digital wallets and the ever increasing integration between our phones and our plastic.

In this season of Financial Futures, we'll be taking a look at the technology and issues that are shaping the credit union industry. Today, we'll be exploring the continually evolving card payment landscape alongside FIS' VP of Strategy for Cards and Money Movement, Matt Collicoat.

We'll be asking Matt what the emerging technologies are and what advances he thinks will be made over the coming years. We'll also discuss some of the hurdles that these innovations will face as well as the opportunities they could present to credit unions and their members. We'll also talk about:

What controls do these new card technologies offer?
What functionality do members expect from their cards?
How will these innovations make our money safer?
How can credit unions position themselves to take advantage of improving payment technology?

Beyond Boomers – Our Wisdom Keepers

FIS, Erin Dangler, Danny Russell — Tue, 23 Feb 2021 19:00:00 +0800

Last but not least in our series on how the generations shop and pay, we get to know the Beyond Boomers. They’re our “wisdom keepers” who grew up in a time when life and business moved at a slower pace. Beyond Boomers have the lowest rates of digital payment adoption, and for many of them, technology is like a foreign language. But with a little patience, they too can become fluent.

In this episode, Danny Russell, a payment technology strategist at FIS, joins us to talk about how to empower more Beyond Boomers to use digital payment tools, why financial inclusion is so important for our elders, and how to design e-commerce experiences with the personal touch they need.

Danny Russell, a payment technology strategist at FIS, and host Erin Dangler compare notes on their Beyond Boomer relatives and talk about how to support our elders as they learn to shop and pay in the digital age:

Why Beyond Boomers still have a fondness for cash
How to relate the benefits of contactless payments to their interest in security and financial responsibility
Why financial inclusion should be a priority
How to approach our elders with empathy when teaching them tech tools

The Baby Boomers – Raised in Prosperity

FIS, Erin Dangler, Pinar Alpay, Maria Prados — Thu, 18 Feb 2021 19:00:00 +0800

Ok Boomers, it’s your turn. Having grown up during a time of rising prosperity, the Baby Boomers value quality, service, and convenience. But this aging generation can be finicky when it comes to online shopping. Whether because of old-school preferences or a little impatience with technology, companies have to make the experience as seamless as possible to get the Baby Boomers on board with digital shopping trends.

In this episode, FIS Worldpay’s Pinar Alpay and Maria Prados join us to talk about why convenience and trust are essential to tap the unmatched spending power of this generation.

FIS Worldpay’s Pinar Alpay, senior vice president of global payment solutions, and Maria Prados, vice president of global retail and e-commerce, join us to talk about trends in how the Baby Boomers like to shop and pay:

Why they still prefer traditional payment methods like credit cards
How to build trust in the online shopping experience
The rise of one-click checkout and its allure for Boomers
How data and AI can be used to offer the personal attention and convenience they value

Gen X – Generation Zen

FIS, Erin Dangler, Jason Pavona — Tue, 16 Feb 2021 22:40:00 +0800

As the first generation whose parents often both held jobs outside the home, members of Generation X are known for having a healthy distrust of authority and for doing things their own way. Gen-Xers tend to be ambivalent about entrusting their money with digital payment technologies, but that doesn’t mean they’re tech-averse.

In this episode, host Erin Dangler and fellow Gen-Xer Jason Pavona, senior vice president and general manager of global e-commerce at FIS, hash out why their generation prizes independence and security, still clings to their credit cards, and remains loyal to trusted brands.

FIS’s Jason Pavona shares the Gen-X perspective as we continue to explore trends in how different generations like to shop and pay. Topics include:

How brands can connect with this supposedly “marketing-resistant” generation
Why Gen-X’s has been slow to adopt digital payments, and how to win their confidence around security issues
What Gen-X’s extensive use of social media means for future payment trends
Why they love their credit cards
How to design rewards programs to attract Gen X customers

Millennials - Coming of age in a digital age

FIS, Erin Dangler, Ellen Straus — Thu, 11 Feb 2021 19:00:00 +0800

Born between about 1980 and 1996, millennials saw the advent of the internet--unlike Gen Z, who were born after it became a household term. Living online comes naturally to millennials, but they still remember and value older ways of doing things. That means companies have to up their omnichannel marketing game if they want to win over this versatile crowd.

We talk with a member of the millennial generation today as we continue our series on how the generations like to shop and pay. Ellen Straus, the strategic sales director of global e-commerce and retail at FIS Worldpay, tells us why she and her peers embrace digital payments but still like to shop in stores, and how retailers can use data to engage millennials with the meaningful online and “IRL” experiences they seek.

FIS Worldpay’s Ellen Straus is our insider guide to millennials as we explore trends in how her generation likes to shop and pay.

Topics include:

Why millennials like to research online but shop in stores
How brick and mortar stores contribute to the brand experience
What millennials expect from an omnichannel shopping experience
How data can help brands engage millennials at every touchpoint

Gen Z - Living In Technology

FIS, Erin Dangler, Phil Pomford — Tue, 09 Feb 2021 19:00:00 +0800

This season, we’re taking a closer look at each of the five generations alive today and how they like to shop and spend their money. Armed with survey data from 15,000 consumers in 15 countries, experts from FIS will tell us how the way we pay is changing across generations and around the world. How do age, culture, and technology interact to make the generations unique, and which global trends unite us all?

First up: Gen Z. Phil Pomford, general manager of global e-commerce at FIS Worldpay joins us to explain why social media is the new shopping mall for the youngest generation, why they like to “buy now, pay later,” and why trust and personalization are so important for connecting with Gen Z.

FIS Worldpay’s Phil Pomford joins us as we explore trends in how the digital natives of Gen Z like to shop and pay. Topics include:

How Gen Z is driving the rise of social commerce
Why winning the trust of social shoppers is essential
How culture and local forms of payment complicate global trends
Why the youngest generation is embracing a very old idea in retail
How brands can reach Gen Z now and in the future

Fraud In The Digital Age

FIS, Erin Dangler, Eric Kraus — Tue, 15 Dec 2020 19:00:00 +0800

As the ways we spend and move our money go ever-more digital, fraud and identity theft have followed not far behind. The technology revolutionizing financial services has created new opportunities for fraudsters to exploit. But it also brings new tools that we can use to protect ourselves--including identity safeguards that are more high-tech, and definitely more convenient, than the passwords and nostalgic security questions of yore.

Eric Kraus, vice president of fraud, risk, and compliance solutions at FIS, believes that the benefits of our new financial technologies ultimately outweigh the risks. But he says consumers and financial institutions still have a long way to go to fully mobilize fraud prevention measures.

In the Season One finale of “Financial Futures,” FIS’ Eric Kraus joins us to discuss fraud in the digital age. Topics include:

How fraudsters have adapted to new digital payment technologies
How the COVID pandemic has fueled fraud trends
Why some of the most tech-savvy people among us are at the greatest risk for fraud
How financial institutions can up their game to protect customers
Tips for good “password hygiene” and other ways to avoid falling victim

The untapped potential of commercial credit cards

FIS, Erin Dangler, Ellen Winterod — Tue, 01 Dec 2020 19:00:00 +0800

Corporate credit cards can be a win-win for companies and their employees. For employees, they’re a convenient and rewarding way to pay for expenses, and for companies, they provide better transparency and control over their spending. So why aren’t more companies using them?

While overall commercial card spending is growing, a lot of small and medium-sized businesses still haven’t adopted them. But Ellen Winterod, senior product manager at FIS, says that’s starting to change. As the COVID crisis shakes up ways of doing business, companies have new incentives to embrace commercial credit cards and their evolving digital capabilities.

Will commercial cards continue to catch on with the middle and lower ends of the market? Is catering commercial card offerings to this segment a risky play for financial institutions, or an untapped opportunity?

In this episode of “Financial Futures,” Ellen Winterod, senior product manager at FIS, joins us to discuss:

Why COVID is forcing companies to rethink how they pay for expenses
The advantages of using commercial cards vs. personal cards for business spending
The digital trends driving commercial card adoption
How financial institutions can reach untapped markets for commercial cards
and design products that cater to the digital age

P2P is transforming banking as we know it

FIS, Erin Dangler, Norm Marraccini — Tue, 17 Nov 2020 19:00:00 +0800

Apps like Zelle and Venmo have made splitting happy-hour tabs with friends so much easier. But that’s only the tip of the iceberg when it comes to the impact of person-to-person payments, or “P2P.” P2P is not only changing how we move money, it’s radically transforming banking itself.

FIS’ Norm Marraccini says that leaves only one option for banks that want to survive into the digital future: “You’ve got to get into P2P.”

In this episode of “Financial Futures,” Marracini, senior vice president for executive retail digital payments at FIS, joins us to take a closer look at the P2P payment revolution.

We’ll discuss:

How COVID accelerated P2P’s already-rapid growth
Zelle’s success introducing P2P to the masses, and how it has become the dominant player in the industry
How “B2C,” “B2B,” and the like are the next steps in P2P’s evolution
Will the rise of P2P cause brick and mortar bank branches to vanish?

Transcending our little pieces of plastic

FIS, Erin Dangler, Melissa Kopp — Tue, 03 Nov 2020 19:00:00 +0800

Cash is quickly disappearing as a form of payment. But what will take its place?

Tech wizzes have given us a dizzying variety of devices and apps that make paying for things easier than lifting a finger. We’ve got smartphones, smartwatches, smart speakers. Digital wallets, P2P apps like Venmo, and refrigerators that will buy more milk for us when we run out. As different as they are, most of these payment innovations are still linked to that little piece of plastic we call a credit or debit card. But just like cash, new technologies are making that physical token less and less relevant.

In this episode of “Financial Futures,” FIS’ Melissa Kopp returns to talk about what it means to be a cardholder these days, and why financial institutions and merchants need to unify the growing variety of payment experiences available today. We’ll discuss:

How consumers are interacting with retailers and financial institutions through an ever-growing variety of digital channels.
What the “omnichannel” buzzword really means, and how to create a truly omnichannel experience.
How APIs can be leveraged to design cohesive customer experiences.
Do payment providers really need to go omnichannel?

Is COVID the Death of Cash?

FIS, Erin Dangler, Melissa Kopp — Tue, 20 Oct 2020 18:00:00 +0800

In the age of COVID, a lot of us are feeling more squeamish about paper money and the germs that may be hitching a ride on it. All across the world, people are using way less cash. But the pandemic only accelerated a trend that was well underway, with the rise of contactless cards and digital payment apps making a cash-free lifestyle more appealing than ever.

In the debut episode of “Financial Futures,” we ask: does COVID spell the death of cash? What would a cashless society look like, and do we really want to live in one? And how can financial institutions attract a new generation of customers ready to ditch the clutter of coins and bills, while weathering uncertain times that leave others longing for the comfort of cold, hard cash?

Melissa Kopp joins us to offer her take on these questions as director of business development at FIS, a global leader in financial services technology. We talk about:

How both consumers and merchants have embraced contactless payments during the pandemic
The benefits and risks of a cashless society, and who it might leave behind
What we can learn from Sweden, a trailblazing model of a (nearly) cash-free country
How financial institutions can adapt and lead the way into the digital-payments future

Introducing Financial Futures

FIS — Fri, 16 Oct 2020 22:28:27 +0800

Introducing Financial Futures, launching October 2020.

For more information, visit https://www.fisglobal.com