How the Crowd is Changing Brand Advocacy in Banking

Social networking and platforms like YouTube, Facebook, Twitter, Instagram and Tumbler are changing the way we share and interact. Unlike traditional broadcast channels, these new channels encourage participation, feedback and dialog, but in an environment steeped in traditional processes that discourage transparency banks are sometimes finding the shift towards a more socially engaged brand a challenge. This week on Breaking Banks we interview two leading social media voices in the financial services space – Frank Eliason is the Global Director of Social Media for Citigroup, and Author of @Your Service (published by Wiley in 2012) and Simone McCallum, a pioneering Social and Community Strategist for ASB Bank in New Zealand. How do brands co-exist in a world where as a consumer I trust the crowd more than I trust what the “brand” tells me about it’s own products and services?

Banks Built Without Branches

Most banks rely on their branch infrastructure for the vast majority of revenue and customer acquisition today. From the basic requirement many banks have for in-person, face-to-face identification and the legacy signature card, for many banks this is a very hard habit to break. But there are already many banks who’ve not only cracked this problem, but get the majority (and in some cases all) of their revenue from non-branch sources. In this week’s Breaking Banks we talk to Neff Hudson from USAA Bank who serves a highly mobile customer base, and Alex Twigg from UBank in Australia, who built their entire business rapidly in the space of just a few years without any branches. We often hear that customers still prefer to open an account or sign-up for a mortgage in a branch, but what if banks are biasing this behavior and actually missing out on major new sources of revenue because they’re not adapting to changing behavior.

The Era of Faster, Smarter Payments

From the check you used to get on your birthday from your Grandma, to your regular monthly salary payment, through to the mortgage or rent payments you make each month – much of the utility we enjoy in banking revolves around payment capabilities. Whether it is card payments at a store, bank to bank payments, or international wire transfers, the “bank” has often been the go to place for such basic capabilities. Today, however, a virtual payments revolution is taking place. From the emergence of PayPal creating very simple payment transfer mechanisms, to the recent emergence of players like Dwolla, Square, Venmo, LevelUp and others – there are more payment options today than a humble banker could ever have imagined a few years ago. Please join Brett King, the host of Breaking Banks and the best selling author of Bank 3.0, and his guests Dwolla’s Ben Milne, Dave Birch from CHYP, and PayPal’s Head of Innovation Dan Schatt as they discuss how faster, smarter payments are rewriting the rules of how money gets from A to B.

A New Take on Credit and Lending

Remember the last time that you went to your bank branch for advice on lending and investment? Most people don’t. Branches simply can’t compete with digital services that have proven to provide more information in a more timely manner providing a process with less friction between the consumer and what they need, whether it is a mortgage, or other kind of loan. Also, as mistrust of the traditional banking system has increased over the past decade, entrepreneurs have been turning to tools of the digital age to offer real solutions to those who want to operate outside that system and succeed. Please join Brett King, the best selling author of Bank 2.0 and 3.0 and his guests Giles Andrews and Jeff Stewart as they discuss how the digital revolution is reforming the heart of banking; credit and lending.

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