Bankadelic: The colorful side of finance

While none of us would think of carrying rotary phones in our pockets or trying to stream videos via box cameras, we still use the generations-old FICO score as the main way to evaluate credit worthiness. That leads to mistakes, oversights and the exclusion of otherwise deserving consumers. Pankaj Kulshreshtha, the Founder & CEO of Scienaptic AI, explains how “augmented intelligence” can close the gaps of a n obsolete credit measure and give financial institutions peace of mind—and a piece of the action—as they think far, far outside the credit score box.

In 2021, the financial services world saw a lot of tech jargon and goblin-de-gook, as well as Great Pumkins carrying lots of promising fintech goodies. In a conversation so engaging it's scary, Bankadelic hosts five financial all-stars to talk about the hype, the hope and all things tech that took center stage in 2021--whether they deserved to or not.

Our guests:

Paul Davis of Strategic Resource Management

Danny Piangerelli of Sensibill

Martina Schubert of LenderClose

Cyrus Taheri of Mambu

and Steven Ward of CSI

Even with a financial services landscape competitive as ever, misperceptions about the fine points of customer experience and customer engagement refuse to go away. But knowing how they compare and contrast is essential to succeeding in business on every customer-facing level. On this episode of Bankadelic, Engageware CEO Bill Clark explores these fine distinctions, casting new light on the power of relationships. He also explains what it takes to grasp consumer needs on a deep level—and how his company helps financial institutions do it.

Though “challenger bank” is a sexy, rebellious kind of label that many digital properties have adopted, that doesn’t mean the value propositions are new, revolutionary—or profitable. Arcady Lapiro, the CEO and Founder of Agora, explains how challenger banks really work, why they’re challenged to deliver something truly unique—and how financial institutions would do much better to target underserved, unsungdemographics in targeted, insightful ways.

Of all the neobanks created to serve a nice clientele, it’s safe today none approaches the originality of Nerve, the world's first created for musicians. The Austin, Texas-based bank, which launched last month, is out to bring financial harmony to the lives of players on the road, in the studio, at the turntable and writing their next hit. Fintech veteran and co-founder John Waupsh takes us through Nerve's creation, and how his app-powered juggernaut is feeding the needs of creatives—while stoking his own passion for music.

While the COVID-19 pandemic saw many companies rush into cloud computing, not all of them studied the security ramifications of it all. As a result, financial services organizations have been left vulnerable as hackers and their malware lurk in the shadows. On this episode, Sean Martin of CSI Managed Services explains the crucial differences between public and private clouds, and what companies need to do now before they suffer a data breach—or worse.

It could be something as simple as cancelling wasteful subscriptions that over time give a consumer the power to make a big-ticket purchase, whether it’s a car, home improvement or dream vacation. On this episode, Steven McKean, co-founder and CEO of Apex Edge, walks us through how his technology has allowed consumers to take control of their financial lives--and in the process promote financial wellness and provide relief from budgetary stress.

Sharp pencils, sharp minds, sharp first-day-of-school wardrobe. It's time for Bankadelic to go Bank to School, as our four-guest panel helps us figure out what we've learned in 2021, and what we need to learn to graduate the Financial Services Academy with honors. Rich Longo of Mambu, Jill Homan of Deep Target, Mickey Goldwasser of Payrailz and Izabella Gabowicz of Sensibill will show us what they've learned. And no cheating, folks: There will be a test after this podcast--of the industry, that is.

The world of philanthropy is ready for big things as the Great Wealth Transfer from baby boomers begins. How will women lead the charge, not only as inheritors of wealth but business leaders in their own right? Mona Sinha, the Board Chair of Women Moving Millions, shares how her organization seeks to change the face and heart of worldwide philanthropy by "funding big and bold."

Long gone are the days when financial institutions could wait several years, or even months, to sit on the sidelines without reassessing their technology and its impact on serving customers. The good news is that in the home stretch of 2021, the prospects for growth are bright—but only for those who stay on top of the changing digital landscape. David Brooks, Founder and CEO of Cirrus, explains how financial institutions winning the growth game are making sense—and making use—of viable options emerging in the wake of the 2020 tech explosion fueled by COVID-19.