Bankadelic: The colorful side of finance

For generations, financial institutions relied on a system of paperwork to make credit decisions. Then as digital technology became commonplace, the process moved into the digital age—but with the explosion of machine learning and AI, also much more is possible. On this episode, Steve Bireley of Lokyata talks about how credit decisions can be improved based on data that’s continuously updated in real time. He outlines how this technology holds the key to fairer, sounder decisions from banks, credit unions and online lenders.

Businesses everywhere face the reality that talent competition is at an all-time high, with a smaller pool of applicants demanding better treatment. Yet if the pendulum swings back, as many predict it will, financial institutions can’t return to business as usual. Shane Smith, Founder and Recruiter at Bankerhire, talks about how successful FIs have adjusted to the new reality to leverage digital and cultural advantages. As for the Great Resignation trends, don’t expect them to end soon—but there are ways to approach the old formula of attract-hire-retain more thoughtfully and creatively in a world defined by pandemic and independence.

Bankerhire is a proud sponsor of Bankadelic.

Given their disparate silos of data and an inability to utilize and strategize it, financial institutions are leaving money on the table in all sorts of ways. This week on BankaDelic, Christopher Aliotta of Quantalytix talks about a new approach loan management software that his company has just unveiled. As a career banking professional with a background in coding, Alliota has worked to bridge the two worlds of traditional financial services and fintech—this latest breakthrough a culminating example of how technology, applicability and practicality can co-exist peacefully and profitably.

Financial institutions and businesses of all kinds can no longer count on a voice-activated system—or even live agents—as exclusive means to solve customer problems. Enter Glia’s Rick DeLisi, who has a new book out, “Co-Author of "Digital Customer Service: Transforming Customer Experience for an On-Screen World” (Wiley). In it, DeLisi makes a compelling case for a greater unity between the screen, the phone and the customer service rep. Much of it boils down to having key information ready to share between those points at digital speed. It’s an encore appearance for DeLisi after one of this year’s most popular Bankadelic podcasts.

Part two of the Qwoted interview series (hosted here on the Bankadelic page), where Ukrainian journalist Yuriy Matsarsky continues his account of life in the capital. Believe it or not, coffee shops are reopening as outclassed Russian troops founder on the outskirts of town.

While bank cards have been around for decades, the strategies to effectively differentiate them — and market them — have not kept up with the times. Kelly Payne, the Chief Marketing Officer at MOCA Financial, talks about the lessons financial institutions can put into play today, and how to move beyond the “mailbox money” mentality that has defined this category for too long. In assessing the situation, Payne calls on banks to be more imaginative, proactive and daring.

I wanted to post another Bankadelic episode this week. But the events in Ukraine made it impossible for me to follow thorough. Instead, I'm posting the interview I did moments ago (in my capacity as Qwoted's Editor in Chief) with Yuriy Matsarsky, a Ukrainian journalist who has decided to go from covering the news to being part of it. He talks about what moved him to take up arms with his people, and shares with the world his pleas for action beyond sanctions.

Here’s the great news: Financial institutions are sitting on a goldmine of data. Now the bad: When it goes unused—as it too often does—it might as well be fool’s gold. Mickey Goldwasser, Vice President of Marketing and Chief of Staff at Payrailz, explains how data-driven insights can help businesses understand consumer behavior. In the end, it’s all about the positive psychology of helping people do things that matter to them while presenting propositions that are relevant to them.

Dave Wallace and Dharmesh Mistry, two rockstars in London's fintech scene, have just celebrated the 50th episode of their podcast, Dave and Dharm Demystify, Bankadelic's sister show. To mark that milestone, the Two Ds check in to talk about a powerful triangle that will shape (and shake) banking in the years ahead: hyperpersonalization, decentralization and inclusion. Be sure to check out check out Dave and Dharm Demystify on Soundcloud.

Everyday is a lovely, lovin’ day at Bankadelic, but no more so than when Cupid comes out to shoot his arrows at the heart of what matters in banking and fintech 2022. Join us for this special episode as our five guests share their love for what’s making this a great year so far—and dish the tough love when it comes to things that need to change. Added bonus: Each panelist will talk about that first crush, which we’re sorry to say just didn’t work out—even if the rest of their lives did.

Our guests:

Will Bryant – Co-founder, Quantalytix 

Barry Kirby – SVP, CuneXus

Gio Mastronardi - Group President, Enterprise Banking, CSI

Shelly Nischbach – VP of Verification Services, Equifax

Martina Schubert – CTO, LenderClose