The Financial Brand

Forum 2024 breakout speakers and sessions are released! The Financial Brand Forum 2025 will feature dozens of how-to sessions taking a deep dive into a wide range of issues critical to your organization's growth strategy — from disruptive fintech innovations and digital marketing, to CX and generative AI. You'll learn innovative strategies, advanced techniques, and best practices from the brightest minds in banking. These sessions are packed with actionable insights guaranteed to build both your brand and your bottom line. (And keep an eye out — we have more breakout sessions to come!)

Apple, Starbucks, McDonald's, and Walmart aren't just selling products anymore — they're becoming financial powerhouses. They're creating emotional connections that make managing money feel "easier, smarter, and cooler than ever." Some key insights on how traditional banks are responding: - Capital One's innovative Café strategy proves that banking can blend lifestyle with finance - Bank of America's virtual assistant Erica has connected with 42M+ customers through personalized, proactive support - Strategic partnerships like Apple-Klarna show how collaboration can trump competition The future of finance isn't going to be just about transactions. It's about creating seamless, emotionally engaging experiences that fit naturally into people's lives.

Lots of great predictions for Trump 2.0 in the The Financial Brand piece from Steve Cocheo below, including: 🟦 James Ballentine thinks Biden-era interagency CRA revision is "absolutely off the table." 🟦 Penny Lee is looking for "harmonization" in the banking agencies' approach to BaaS. 🟦 I'm predicting that the “tremendous amount of right-wing tech influence on this election" may yield "regulators who are more receptive to technology and innovation." What are you predicting? #fintech #regulation #banking #baas #crypto https://lnkd.in/gvesKF_P

2% of consumers say trustworthiness is their top priority when choosing a new bank, while 86% prioritize good customer service. And, traditional banks and credit unions command 65-66% trust rates, while digital banks lag at just 43%. The real wake-up call? Only 48% of customers believe their bank truly understands them. Just 37% feel they receive personalized advice consistently. This explains why banking giants are doubling down on human connection. Even as Bank of America sees 95% of client interactions happening digitally, they're expanding their physical footprint for those crucial face-to-face conversations. Convenience isn't just about apps and websites. It's about creating worry-free banking experiences where customers never have to question: - Is my money safe? - Is my balance accurate? - Where did this fee come from?

Thanks for sharing the piece, Discover Financial Services!

"Nobody goes out, buys a new iPhone, gets halfway through setting the thing up and then throws it in a drawer, saying it's too complex," says Chris Powell, head of deposits and customer engagement at Citizens. "But consumers seem to do this all the time with checking accounts." Today's customers need more than just digital features — they need intuitive, purposeful banking experiences that solve real problems. Here's what's working: - AI assistants that don't just answer questions but take action - Practical savings tools that help customers reach specific goals - Smart appointment scheduling that bridges digital and physical banking Powell puts it perfectly: "The old way was to hang features in the mobile app and hope customers find them. The new way is to walk them through a very simple, curated experience."

Thank you for sharing your insights with us, Beth! (Everyone, go check it out now if you haven't already.)

Banks could save $1 trillion by 2030 with chatbots, but only 2.7% have advanced AI capabilities. Bank of America's Erica leads with 1.5 million daily customer interactions, but most banks still offer glorified FAQ tools. The good news? 70% of consumers believe AI-powered chatbots can make support more personalized. The catch? They need to stop behaving like search engines and start delivering real value. To explore the current state of chatbots, we looked at 149 national and regional banks, credit unions, and challengers in North America and Europe. Our sample consisted of 90 firms in North America (76 in the U.S. and 15 in Canada) and 58 firms in Europe (41 in the EU and 17 in the UK). Check out the full analysis:

Surprisingly, Gen Z is emerging as a generation of super-savers, outpacing every other generation with 47% setting aside more than 20% of their monthly income. But here's what makes them fascinating: Despite being digital natives (99% use mobile banking apps), Gen Z's banking decisions aren't driven by flashy tech or even the highest returns. Their top factor? Good old-fashioned word of mouth from family and friends. "Over 60% of Gen Z admit to being confused by financial topics," YouGov reports. This vulnerability might explain why many still keep their savings in cash, missing out on today's 5% high-yield opportunities.

We couldn't have said it better ourselves.