BT_Insights7_2026-03-29_MR_0855_Mix2

0:11

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Why do people come into your branch and people said friendly service and all this?

0:16

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I was gonna raise my hand because my answer was because you've made it so damn tough to open digitally.

0:22

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

That doesn't mean the branch is secondary. It means we're doing the wrong things.

0:28

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

So think about what the branch is gonna do. The survey also

0:32

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

asked, you know, how it relates to payments. How the branch is going to be built.

0:37

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It's the size of branches. The highest space in square footage was 1,000, 3,000 feet.

0:44

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

That's smaller than it was a number of years ago, or even a couple years ago.

0:49

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We're rethinking branching.

0:51

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Branching has got to be an accelerant to what's going on in digital.

0:58

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Digital is going to be where most of the transactions should and will go.

1:03

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

But that's not where the engagement is going to happen.

1:09

S… Speaker 2 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It's my pleasure to introduce, to speak for a few minutes to you about the future of places like this.

1:15

S… Speaker 2 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Please join me in welcoming the one, the only Jim Maruse.

1:23

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

You know, the people...

1:26

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

How did you turn this?

1:27

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

On?

1:28

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Okay, here we go.

1:30

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It's interesting.

1:31

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It doesn't go without noticing that I'm probably the oldest person here.

1:37

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

And I spent my whole career in banking.

1:39

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It's over 50 years now.

1:40

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I came right out of college, was a management trainee at National City Bank in Cleveland.

1:45

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

And what was interesting, the first role I had, as many management trainees did, was being in a branch.

1:50

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

So I've got to take you back before we go forward.

1:53

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

The first branch I worked in was called University Circle Branch in Cleveland, Ohio.

1:58

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I was selected for it because I came from a very diverse high school.

2:03

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

And they thought, what the heck, we're going to put you in an area where you're going to see all kinds of customers.

2:09

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

But this was before direct deposit.

2:11

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

So imagine the teller line that went from that window to this window, had about 15 to 17 branch stations, that on a 15th, 30th, or any Friday, the people were lined up out the door and would stand in line for an hour because they either didn't want to go through the drive-through, didn't have a car,

2:32

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

or they didn't trust the ATM, which was brand new at that point.

2:36

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

The reality was the technology and the way we do banking has changed so much.

2:42

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

They have, I don't even know what the name of these things are.

2:45

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

You're going to have to tell me again.

2:45

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

But I guess it's called cash recyclers.

2:49

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Basically, we didn't have that.

2:50

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We had one way to get fired as a teller.

2:52

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

That was not to balance.

2:54

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Which is why you brought about $20 in loose cash.

3:02

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

But we made it up the next day.

3:05

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We always get, oh, we don't do that anymore.

3:12

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Okay, gotcha.

3:13

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

That's why you have cash recyclers.

3:16

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It was very interesting because we worked in a very diverse area that also had a lot of small businesses.

3:23

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We'd have people come in with bags of cash.

3:27

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We had counters in the back office that were doing the counting to go into the vault.

3:32

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We'd have two pickups and two drops off in a day.

3:35

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It was an amazing environment, but it taught me so much about what it meant to be a teller

3:40

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

and what it meant to bring an experience to the branch.

3:44

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I didn't do it by having people trying to balance, but the reality was it has changed so much.

3:49

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

What's interesting is during every stage of technology, we kept on making the case that it would replace the branch.

3:56

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It would replace the tellers.

3:58

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Online banking, going to replace the teller.

4:00

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

ATMs, going to replace the tellers.

4:02

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Nobody came back ever and said, what are those numbers he gave?

4:06

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We kept on using the same ones for the same reason.

4:08

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We did the same thing with mobile banking.

4:10

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

What happened was transactions went through the roof, transactions of the branch dropped a bit, but the branch was still important.

4:19

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Now, I just finished writing a chapter for a book with Brett King, who's not necessarily a branch advocate.

4:27

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

He believes it's going to shrink over time because it's just not cost effective.

4:35

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

And I'll agree with him partly.

4:37

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

The reality is in most of the world, branches are not being built.

4:42

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

They're being closed.

4:43

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

And that was because a lot of these economies were on new banking systems that were really built in a digital world,

4:49

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

the beginning of a digital world.

4:51

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

America is not the rest of the country or world, and we can say that on so many fronts right now.

4:56

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

But the reality is North America still...

5:00

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

depends on branches but for different reasons we don't want these to be transaction centers i mean

5:05

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

this this wall also this teller's line used to look like a barrier the the base would be this

5:12

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

high there'd be windows sometime during we went through a stage where you had bulletproof glass

5:16

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

all the way down the the line it was a crazy place to work but it wasn't inviting we've gone from

5:23

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

transfer from transactions to engagement it is meant these people are supposed to come

5:29

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

from behind the counter and help you they're supposed to take you to where you want to go

5:33

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

to meet with people to talk about asking questions as opposed to giving solutions

5:41

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

ej's referenced it a couple times i think he said in an email to each of you that we just did a

5:46

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

research study for dbsi on the future of branches so what did we find what we found one thing in

5:53

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

was really important it really correlated with all the recent research we've done at the digital bank

5:58

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

report our trends and priorities survey our our um ai agentic ai survey that talked about what's

6:06

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

the future of working with the customer and our brand survey they're all working cohesively to tell

6:12

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

a story number one the branch is not dead it's changing every day and it's individual i was talking

6:20

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

to this gentleman right here that talked about chase where he worked for many years and the reality is

6:24

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

just because chase builds a branch doesn't mean you need to build a branch on the same hand just

6:33

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

because maybe bank of america closes the branch doesn't mean you should close the branch it is

6:38

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

very individual and talking with amy here yesterday it became very clear that decision every single part

6:45

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

of this building was very well thought out and for a purpose this is a flagship branch this is not a

6:52

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

local community branch it's not meant to be it's meant to be a billboard outside that brings people

6:58

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

in if you spend any time in arizona you get to know every shade of brown in the world and the buildings

7:07

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

reflected you can go down camelback and while there's a lot of money there there's very few buildings that

7:12

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

look anything like this the billboard on the outside is the beginning then you come through the door and

7:18

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

you're immediately amazed by number one the vastness of it but the close proximity of what it feels like

7:25

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

it's a warm office the people are warm the reality is the vision of this organization and the partnership

7:32

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

with dbsi made it very clear that a whole lot of minds came together to deliver on something that was

7:38

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

very different i came in and immediately i thought god i thought this would be a lot smaller okay gotta roll

7:44

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

with it gotta figure out what's going on but at the very beginning and throughout the whole development

7:49

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

process it was all roi the golf simulator they figured out an roi for it not for it specifically

7:55

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

but for the branch as a whole somebody just came up to me tonight said so why the brand simulator

8:01

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

well if you want new customers in an area you have very few people living around you that are customers

8:07

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

of your your office you need to get word of mouth what better way to get word of mouth than saying

8:12

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

i came to the branch i hit some golf balls i'm gonna go banking tomorrow at noon you know what's

8:20

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

interesting is it's all about the experience the wall the mesh screen back there continues to tell a

8:27

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

story the story very subtle as we talked about when you presented about artwork is what is the feeling

8:33

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

that leaves behind the feeling that leaves behind without broadcasting we're an arizona-based organization is

8:40

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

that's camelback mountain that that isn't but earlier when the people are climbing that's camelback

8:44

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

i've walked that trail not nearly as fast as people did in the video and then back here you have

8:50

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

the ability to sell or recommend services our survey found that there are 42 percent of organizations say

9:02

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

they're going to be building branches here that stunned me in fact the reason why we asked it again

9:06

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

because we just did the trends and predictions i said there's got to be something wrong with our data

9:10

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

came out to be the same number the number who are investing is another 30 percent and only four

9:16

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

percent are actually reducing the investment in branches people are changing all the time but you

9:22

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

have to listen don't it was said earlier today don't do what your neighbor's done determine on each

9:28

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

branch what the metrics need to be secondly when we wondered what they were building and what was the

9:37

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

thing that was getting in the way we gave them an option of three different things they picked all three

9:42

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

it wasn't the finance it wasn't the budget it was getting the plan to be implemented the way we want

9:49

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

to be to keep the plan key to the north star to the strategy that was being developed we then asked

9:56

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

what dynamics do you have in the branch what new technology do you have

10:00

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I think we listed 11 things from the cash recycler, which was number one, to safe deposit boxes, down very low.

10:07

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

In fact, they were taken out of this branch, to ATMs, to coffee centers.

10:12

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We didn't put golf simulator because we knew one institution would respond that way right now.

10:18

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

But the reality was everybody's trying to put everything in a branch.

10:22

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Be flexible.

10:24

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Don't think just because you put it into the branch, it's got to stay in the branch.

10:28

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

This is a dynamic environment in everything we're doing.

10:32

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I'm going to leave you another message.

10:34

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

The branch by itself, just because you build it, they will not come.

10:41

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

And just because you have a great team doesn't mean you're going to open the number of accounts you set.

10:47

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

People keep on asking me, what's the best growth initiative?

10:50

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Well, if you were with me last year, I said it.

10:52

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I'm going to say it again until you all start doing it.

10:54

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

The best growth initiative, I can guarantee you're going to get 30% to 50% growth immediately on new account growth.

11:02

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

And that is to have a three-minute to five-minute digital account opening experience on the phone.

11:08

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Now, there's companies that do this for you.

11:10

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

The problem is you hire them, and then you say, I kind of like what you're doing, Mantle, or whoever it may be,

11:18

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

but I want to stay with the driver's license in the first step.

11:22

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

That's nine minutes, right there.

11:23

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

You're adding nine minutes.

11:24

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

You cannot be digital if you take that long.

11:28

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Because what happens is, I think EJ earlier today said, or no, this person after EJ that asked,

11:35

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

why do people come into your branch?

11:37

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

And people said, friendly service and all this.

11:40

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I was going to raise my hand, because my answer was, because you've made it so damn tough to open digitally.

11:46

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

That doesn't mean the branch is secondary.

11:48

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It means we're doing the wrong things.

11:52

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

So think about what the branch is going to do.

11:54

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

The survey also asked, you know, how it relates to payments, how the branch is going to be built.

12:01

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

The size of branches, the highest space in square footage was 1,000, 3,000 feet.

12:08

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

That's smaller than it was a number of years ago, or even a couple years ago.

12:13

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We're rethinking branching.

12:15

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Branching has got to be an accelerant to what's going on in digital.

12:22

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Digital is going to be where most of the transactions should and will go.

12:27

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

But that's not where the engagement is going to happen.

12:29

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I'm going to ask you, because you already heard the question earlier.

12:33

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

How many of you have closed your primary financial relationship in the last five years?

12:39

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Look around.

12:40

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Look at my, oh, oh, one.

12:42

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We have a little bit of a bias group here.

12:44

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We're bankers.

12:45

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

So, you know, we kind of keep them where we're working.

12:46

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

But the reality is, this is the same if I'm going to the public and asking.

12:51

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Secondly, how many of you have opened a new digital relationship, a new relationship with a brand new financial institution,

12:56

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

a relationship with a digital financial institution, or a financial institution that's out of your area in the last two years?

13:02

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Raise your hand.

13:04

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Okay, guys, look around, girls, everyone.

13:07

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

The reason being, this is attrition that you're not paying attention to.

13:11

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

If you're not bringing more to the table when they come into the branch, when they work with you,

13:16

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

if you don't reach out to them with questions about what are their needs, the person's going to find their relationship.

13:23

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We talked about open banking for a number of years.

13:25

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Open banking, in reality, is me opening an Acorns account, opening a Wells Fargo account, opening a Robinhood account,

13:31

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

opening a SoFi account, having PayPal, having Ally, all this financial relationship.

13:37

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

And by the way, each one of them served one purpose.

13:39

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

All of them could have been served by either my business bank or my personal bank.

13:45

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I'll leave you with one more story that is important because it shows how we are broken

13:50

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

and we don't think about why we need these facilities.

13:53

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Every month, twice a month, I write a check to myself from my business account to my personal account

13:58

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

so that my wife and I can do our fun things.

14:02

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Every month, I take a picture of the check and it's deposited.

14:07

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

PMC and Wells Fargo don't talk well together.

14:10

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

As a result, I've got to keep doing that.

14:12

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

And neither institution has said, we have a better way for you to bank.

14:16

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It's now become a game with me because I'm that kind of person.

14:20

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I go, I want to prove that banking is still what it is.

14:24

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

The good news is your institutions are the size that you can really make a difference.

14:31

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

The biggest hindrance to financial and business transformation is leadership.

14:37

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It's not about how much technology you can buy, how much branch you can build,

14:40

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

how much investment you have in back office, in your data system.

14:47

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It is what is your leadership going to allow you to do.

14:51

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It's going to keep on coming back to that.

14:52

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

We talked about it.

14:53

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

A couple of our conversations.

14:55

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It's all about leadership.

14:57

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I met Amy, who's the leader of this organization.

14:59

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I met Amy, who's the leader of this organization.

15:00

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

It was very clear that I was way out of my league in interviewing her about what she knows more about than I do.

15:06

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

I surround myself with smart people. She's going to be one of the people I surround myself with.

15:11

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Because I don't know everything, but if you know the people, you can connect people to people and become smarter.

15:18

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

That's been my goal for the last 17 years since I left traditional financial institutions and became a content creator.

15:24

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Was to continually enlighten myself so I can enlighten others and keep on learning so I don't fall behind.

15:29

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

But enjoy your night tonight. Please remember, it really is up to you as leaders to build banks and financial institutions and credit unions that really stand out compared to that one or the one down the street or the one in Fashion Place Mall or be the biggest banks.

15:50

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

You can outpace them because you have partners in every step of the way that can make you as strong as the biggest banks in the country if you have the leadership to move forward.

16:02

S… Speaker 2 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Thank you.

16:13

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Thank you. Thanks for listening to Banking Transform, the winner of three international awards for podcast excellence.

16:18

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

If you enjoy what we're doing, we would really enjoy a positive review.

16:23

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

Also, check out my recent articles in the financial brand, the research we're doing for the Digital Banking Report.

16:29

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

This has been a production of Evergreen Podcast.

16:31

S… Speaker 1 (BT_Insights7_2026-03-29_MR_0855_Mix2)

A special thank you to our senior producer, Leah Aslich, audio engineer, Chris Vofaglias, and video producer, Will Pritz.

BT_Insights7_2026-03-29_MR_0855_Mix2

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