Money Can Buy Happiness…

It is an old cliche that is proving to be untrue. But the trick to money buying happiness may not lie in how much money we have, but in how and when we spend it. This week Brett is joined by Michael Norton, a Harvard business school professor and author of HAPPY MONEY, which explains how money can buy happiness. In the book, Mr. Norton and his co-author, Elizabeth Dunn, outline 5 principles which help you know when and how to spend your money to increase your overall happiness. Following the interview with Mr. Norton, Brett will speak with New York money coach Carrie Birgbauer and discuss how she helps someone transform from existing paycheck to paycheck into someone financially empowered, and discuss the new personal financial management tools that can aid the process.

FinTech Design: Build the Necessary and Useful

We are now in a time when interface is a more common experience than face to face. It is faster, easier, and simpler… or at least it should be. Banks must look for ways to build bridges to customers through these new interfaces and create customer experiences that build trust, create commonality, and increase loyalty. To reach out to those that are unbanked and underbanked, the challenge is to find ways to make the mobile app friendlier, more trustworthy, and more usable than banks have ever been. Today on Breaking Bank$, we are speaking with James Moed, lead business designer with IDEO, Jim Marous, author of Bank Marketing Strategy, and Lynn Teo, an experienced design industry leader to find out what changes banks need to make and how they need to “mobilize” in order to create the best customer journey

Designing Goodbank

After the banking crisis of 2008 and the lingering effects on the economy, people have felt a mistrust in their banks and communities. Many have put even more trust in credit unions, but have found that there are restrictions on their accounts and access that they don’t like. To take a deeper look at these issues and look at what banks and credit unions can do as digital disruption continues, we are speaking with Bruce Cahan, Founder of the Good Bank, and Ben Rogers, a researcher on banks and credit unions with the Filene Institute about what a good bank looks like, what changes credit unions need to make and how both can gain trust back from consumers.

Here come the Neo-Banks

Pre-paid debit cards are the fastest growing deposit product in countries like the United States and China today. In the US healthy 25% year-on-year growth the last 4 years now amounts to $350 Billion dollar annual business. In contrast checking accounts in the US have been shrinking by close to 4% year-on-year since 2009. The vanguards of the new bank account today, however, are not necessarily the giants of the financial industry. The new bank account is being defined by a different set of rules. Low friction, engaged customer base, differentiated distribution (no branches) and strong digital (mobile and web) support are all the rage, but at the core is a new approach to the basic day-to-day bank account. Join Brett King (Author of Bank 2.0 and 3.0) and his guests Alex Sion, Jon Rosner and Shamir Karkal, as they discuss how Neo-banks will are changing the rules and redefining what it means to be a bank at the same time.

When the Tech becomes more Human, does a Human provide a differentiated experience

When we think of technology in banking we often think of 40 year old legacy mainframe systems and clunky IVR menu trees (Press 1 for banking, 2 for credit cards, etc) that are complex, unwieldy and don’t exactly provide a great customer experience in comparison with sitting in front of a smiling human in a branch location. However, with the advent of technology like Siri, the baby-proof usability of iPad and the ever growing suite of apps, voice biometrics that can tell who you are when you ring your bank’s call centre, etc the gap between a seamless digital experience and a great face-to-face experience is shrinking. In this week’s BREAKING BANK$ show we talk to Sutherland Global, Nuance, Kony and others who are leading the mobile, voice self-service technology platform boom and explore how automation, usability and new technologies are creating a service layer that might one day replace that human sitting in a physical space.

FinTech- Turning PFM to Personal Financial Performance

PFM or Personal Financial Management tools first popularized by have taken the financial services space by storm in the last couple of years. In this week’s show we talk to some of the leading PFM platforms to talk about why banks are taking on PFM capability and how customers are referencing this capability. More importantly we’ll also discuss how real-time, personalization, big data, gamification, mobile user experience, rich data overlay and geo-location will move PFM into a day-to-day personal financial performance capability that you use everyday to give you context and awareness. Join Brett King as he interviews players from MoneyDesktop, Yodlee and Geezeo on this emerging space in customer enablement

Is Bitcoin the Beginning of the End of Cash?

For more than 2,000 years commerce has been conducted on the basis of cash, hard cold currency. Today, however, 90% of global transactions are done electronically, and while cash use is still strong in the retail environment, even there cash use is declining in many economies. In this week’s show we’ve invited renowned author David Wolman (End of Money) and American Banker journalist Marc Hochstein to discuss the end of cash and the emergence of digital currencies like BitCoin. Is there a time in our future when physical cash will be just a memory?

Not Your Father’s Banking Habits

In this week’s Episode Brett is joined by some of the top research analysts in the field of commercial banking include Ron Shevlin from Aite Group, Kevin Travis a Managing Director of Novantas and Jerry Canning is the Industry Director, Financial Services for Google. Analysis is showing that there are some fundamental shifts in consumer behavior when it comes to banking. Whether it is the de-banked Y-Gen, the smartphone enabled consumer, or simply the dramatic and relentless shift away from branch engagement, banking habits are not what they were 10 years ago. How rapidly is this new behavior becoming evident? Is it just millennials or are baby boomers and others also shifting? Join Breaking Banks to find out!

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.

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