Bankadelic: The colorful side of finance

The Wells Fargo scandal of 2016 marked a low point in the quest for banks to lut people ahead of profits. Then came the COVID-19 pandemic, and the all-hands-on-deck rush to help consumers and small businesses. One of Bankadelic’s favorite tag teams, Doug Brown of NCR (let) and Corey Gross of Sensibill, return to talk about the exciting developments in data, 2021 style. It all points to a laudable goal that the financial services industry is embracing like never before: financial wellness.

With countless fintechs working to stand out from the crowd, some work quietly within the niches to create meaningful breakthroughs. On this week's episode, ZSuite Technologies CEO Nathan Baumeister discusses the recent product launch that's created a leap forward in commercial escrow sub-accounting. He also weighs in on what fintech innovation and revolution look like in the latter half of 2021 and beyond.

Over 50 episodes, our humble podcast has dedicated itself to bringing your fresh, compelling perspectives on financial services. That’s definitely not what we’re doing here. In a nod to host Lou Carlozo’s past life as a lead guitarist in a 1980s South Jersey hair band, The Bankadelic Brainless Trust has assembled 16 of our lamest, greatest skits from past episodes. Join Lou and special guest Johnny Da Big as they take a look back at a year’s worth of fake banks, bizarre back offices and the fintech fantasies that reveal our host for who he truly is: a legend in his own mind.

Some pundits are already calling 2021 the year of the Great Resignation, as white collar workers given pause by COVID bid adieu to thankless jobs and lifeless workplaces. Then there’s Quontic Bank, which has built a revolutionary culture based on four fundamental values that drive its success. On this episode, three of Quontic’s leaders—Casey Christopher, Mike Lantz and Founder, CEO/President and Chairman Steve Schnall—take us on a deep dive into the mission-critical pillars that have made Quontic a disruptor among the disruptors, and a standout place to work.

For awhile, the hope surrounding AI and banking was beginning to feel more like hype. Then came COVID-19, and fintech turned its attention to keeping up with the unwelcome new realities of sheltering in place. But now, the discussion around AI and banking is once again heating up even as the pandemic winds down. Srinivas Njay, President and CEO of interface.ai, discusses how a new round of AI technology is making banking better for consumers and call centers, even as it begins to open up exciting possibilities in financial wellness.

Even with the recent acceleration of digital technology, financial institutions continue to struggle with their back offices, It’s often a mix of inefficient products, outmoded procedures and overwhelmed people struggling to make obsolete systems work. Raj Singal, Vice President of Technology at FINBOA, explains how user-friendly process automation can turn the bank back office into a powerful; nerve center to keep up with compliance, evaluate tricky loan applications and much more.

Like Rip Van Winkle, the financial services industry is waking from a long, long dream—make that nightmare—brought on by COVID-19. Thanks to advances in tech, the greater-than-ever need for small business loans and the personal connection angle, community banks could see some of their best business in years. But it will take the guidance of industry veterans to help them change and grow with the times, Jerry Craft, CEO and Co-Founder of Corserv, walks us through what he's seeing in community bank trends and why he came out of retirement to meet the needs of this unique sector.

From the struggles to make back offices run at the speed of modern life to the obstacles facing faster payments in the U.S., payments progress depends on light-speed tech. Now, coming out of a pandemic that saw digital banking leap forward at warp speed, the question remains whether payments will make a similar jump. Casey Scheer, Director of Marketing and Sales at BHMI, highlights the bright spots and roadblocks on the way to payments growth in 2021. Scheer also walks us through the Concourse Financial Software Suite, which won the “Excellence in Tech Award” at the Pay TechAwards 2020 digital ceremony.

Without a speck of exaggeration, it’s safe to say that Jon Voorhees knows more about bank branches than anyone in the financial services industry. He’s visited thousands and thousands over some four decades. But during a well-deserved retirement, Jon decided to get back into the game at a startup trying to bridge the gap between human and artificial intelligence. Here, Jon shares why he hopes that work will make a difference — and talks frankly about the personal losses he endured in 2020 on his way to reinventing himself.

Yes, life is slowly returning to something like normal—but the speed of digital innovation fueled by the COVID-19 pandemic isn’t about to let up. Online banking platforms have stepped up to an unprecedented level of capability and power; data is more important than ever in the quest to understand customer behavior. Yet some of the changes taking hold in financial services revolve more around culture, and the imperative to encourage honest dialogues that pave the way for success. Johanna Pugh, Managing Director North America at Mambu, shares her views on where true innovation and reinvention are happening—and how financial services organizations can poise themselves for success in a time of cautious optimism.