Being led by the needs of your customers and members is a given. Being confident of what those needs are is another matter. And making big bets on things like your digital experience is increasingly becoming make or break for an institution's relevance.

Addition Financial's COO Kevin Dougherty shares how their team turned member insights into actionable requirements, avoiding costly missteps and building features their members truly needed. Kevin shares their member-first approach to digital transformation, where extensive surveys and feedback loops created the roadmap for their success.

Key topics from our conversation:

• Turning survey data into actionable requirements
• Avoiding costly technology missteps
• Measuring success through member response
• Building features members actually use

Whether planning a digital transformation, evaluating new technology, or looking to understand your members'/customers' needs better, this episode offers practical insights on making smarter technology decisions.

For more info:

• Addition Financial
• Kevin's LinkedIn Profile

How is fintech changing financial regulation, and what does it mean for your institution? In this episode of Behind the Vault, Jim McCarthy draws on his unique experience as a founding CFPB member and former FDIC regulator to help us understand where consumer financial regulation is headed.

Key topics from our conversation:

• Evolution of consumer financial regulation
• Using sentiment data to predict compliance risks
• Impact of fintech on regulatory expectations
• Open banking and Rule 1033 implications
• Strategies for staying ahead of regulatory changes

Jim's perspective and advice can be invaluable to:

• Bank and credit union executives
• Compliance officers
• Risk management professionals
• Fintech leaders
• Banking strategists

For more info:

• Jim's firm, McCarthy Hatch
• Jim's LinkedIn Profile
• Financial Forward Podcast

In this episode, we dive deep with Sandy Spring Bank's Chief Digital Officer Chris Orr and Director of Omni-Channel Strategy Jeff Weidley as they share their journey of leading digital transformation at a $14B institution. Through their unique paired leadership approach, Chris and Jeff reveal how they've orchestrated comprehensive changes in digital banking capabilities while maintaining focus on customer experience. They discuss the evolution of their technology stack, the challenges of post-pandemic modernization, and their innovative approach to in-house software development. The conversation illuminates how executive leadership, organizational alignment, and continuous customer feedback create the foundation for successful digital transformation.

Key topics from our conversation:

• Integration and platform orchestration for enhanced customer experience
• Building and scaling in-house software development capabilities
• Managing organizational change across departments and reporting structures
• Leveraging monthly releases for continuous improvement
• Balancing legacy stability with digital innovation

Whether you're a banking executive, IT strategist, or financial services professional, this episode offers valuable insights into how a 150-year-old institution successfully navigates the challenges of digital transformation while maintaining its commitment to customer service excellence.

For more info:

• Sandy Spring Bank
• Chris Orr's LinkedIn Profile
• Jeff Weidley's LinkedIn Profile

Financial institutions worldwide will spend over $9 billion on digital banking solutions this year, yet more than half of these initiatives fail to meet expectations. In this episode of Behind the Vault, we explore why this happens and how community banks and credit unions can build better digital experiences through design thinking.

Key topics from our conversation:

• Why digital transformation often falls short
• How design thinking applies to banking
• Creating low-fidelity prototypes to test ideas
• Balancing customer needs with regulatory requirements
• Building differentiated value in digital experiences

Actionable takeaways from this episode:

• Building systematic customer observation practices
• Creating frameworks for capturing insights
• Evaluating digital initiatives against strategic differentiation
• Practical steps to start implementing today

Whether you're a banking executive, digital transformation leader, or technology decision-maker, this episode provides practical frameworks for making smarter technology investments that truly serve your community.

For more info:

• Design thinking overview:
• Standford d.School toolkit
• Design of Everyday Things:
• Beyond Good
• IDEO Finance Services case studies
• Gartner survey of digital transformation

In this episode, we hear from Jody Guetter, Chief Marketing Officer at Nymbus, about the lessons learned in consumer engagement from a career in consumer brand marketing, community banking, and fintech. Jody shares insights on the evolution of marketing roles in community banking, the importance of data-driven strategies for growth, and the often missed uses of technology in marketing. She delves into the verticalization strategy, illustrating how narrowing focus can expand market reach and improve service offerings. This episode offers valuable lessons on balancing risk, optimizing growth strategies, and leveraging data and technology for financial institutions.

Key topics from our conversation:

• Transforming marketing from cost center to growth driver
• Using data to understand and reach specific market segments
• How vertical strategies can expand rather than limit growth
• Building effective marketing technology stacks
• Measuring marketing ROI in financial services

Whether you're a bank executive, credit union leader, or marketing professional, this episode offers valuable insights on creating focused growth strategies that deliver results.

For more info:

• Nymbus Labs
• Jody's LinkedIn Profile

In this episode of Behind the Vault, we hear from Randell Leach, CEO of Beneficial State Bank. Beneficial State Bank is proving that banks can be profitable and purposeful. It has grown into a $1.5 billion CDFI while staying disciplined in the business it pursues and avoids and focused on accessibility to underserved communities in the US Northwest.

Key highlights from our conversation:

• How Beneficial State Bank measures success through a triple-bottom-line approach
• The unique challenges and opportunities of operating a mission-driven bank
• Their approach to unionization efforts
• Creating profitable growth while prioritizing community impact

This episode challenges conventional wisdom about banking and provides a blueprint for how financial institutions can drive positive change while maintaining strong financial performance.

Tune in to learn about:

• Why they are structured as a for-profit bank owned by a nonprofit foundation
• Balancing profitability with community development goals
• How technology investments support both efficiency and accessibility
• Measuring success beyond traditional banking metrics

Links:

• Beneficial State Bank
• Beneficial State Foundation
• Randell's LinkedIn Profile

In this episode, Mike Daum, Chief Marketing Officer of Golden 1 Credit Union, shares his fresh perspective on driving change at one of America's largest credit unions. As a recent addition to the $20B+ institution, Mike offers unique insights on modernizing a 91-year-old organization while preserving its core values.

Key topics from our conversation:

• Transitioning from traditional banks to the credit union market
• The shared vision and mission of serving the community and meeting financial needs
• Modernizing marketing functions and the martech stack
• Balancing change and modernization with the Golden 1's legacy
• The critical role of data strategy and personalization

Listen in to learn:

• Navigating alignment and the interconnected roles within larger organizations
• The strategic effort to evolve marketing technology with a focus on speed, efficiency, and impactful data insights
• Strategic approach to physical branch expansion in a digital age

Whether you're in financial services or interested in modern marketing strategies, this episode provides valuable perspectives on managing change in today's market.

For more info:

• Golden 1 CU
• Mike's LinkedIn Profile

In this episode of Behind the Vault, Phil Suckow, VP of Innovation at IncredibleBank, challenges that assumption by sharing how a 60-year-old Wisconsin community bank transformed itself into a digital banking pioneer.

Key highlights from our conversation:

• IncredibleBank's journey from traditional community bank to digital innovator
• Building and launching digital brands without massive development teams
• Developing a framework for innovation
• Strategic partnerships with fintechs and core providers
• Practical approaches to innovation with limited resources

This episode demonstrates how community banks can compete and win in today's digital landscape through strategic focus and deliberate execution.

Listen in to learn:

• How to drive digital transformation in a community bank setting
• Strategies for successful fintech partnerships and vendor relationships
• Ways to deliver exceptional digital experiences without huge budgets
• The areas ripe for innovation in banking today

Whether you're a community bank leader looking to innovate, a fintech professional seeking partnership insights, or simply interested in the future of community banking, this episode offers valuable perspectives on bringing big ideas to life in smaller institutions.

Links:

• IncredibleBank
• BankTech Ventures
• Phil's LinkedIn profile

In this episode of Behind the Vault, we hear from Ben Maxim, the Chief Innovation Officer of Michigan State University Federal Credit Union. While every innovation discussion inevitably touches AI, we hear Ben's perspective on the misses and hits the CU, and its wholly owned CUSO, The Reseda Group, has had to get real returns from AI in its operations.

Key highlights from our conversation:

• The real-world applications that have and haven't made an impact
• The role partnerships play in composing successful solutions
• Where Ben sees BaaS and embedded payments headed in the future
• How credit unions can balance innovation with traditional service values

This episode provides a practical roadmap for financial institutions leveraging AI and fintech partnerships to enhance member experiences.

Listen in to learn:

• Embracing innovation in a traditional member experience first culture
• Practical applications of AI for personalized member experiences
• Strategic approaches to fintech partnerships and experimental projects
• Measuring ROI on technology investments in fintech

Links:

* Our previous episode with MSUFCU CEO April Clobes

* the lab at MSUFCU

* The Reseda Group

* Ben's LinkedIn Profile

In this episode of Behind the Vault, we look at the inside vs. outside innovation options with Ted Coy, founder of Valiify, a CUSO dedicated to serving smaller banks and credit unions. Ted's journey from Alabama Credit Union to entrepreneurship offers a unique perspective on the challenges and opportunities in this often overlooked sector.

Major points from the episode:

• Ted's career path and the experiences that led to founding Valiify
• The unique needs of small financial institutions and why they're underserved
• Tackling digital account opening for community banks and credit unions
• Overcoming the technology adoption bottleneck in smaller institutions
• The build vs. buy dilemma and how it can spark innovation

This episode provides invaluable insights for anyone interested in fintech, credit unions, and the digital transformation of community financial services.

Listen in to learn:

• Barriers to innovation for smaller financial institutions
• Approaches the "build vs. buy" dilemma for community FIs
• Strategies for competing with neobanks and fintechs on a limited budget
• The importance of a consultative approach in serving both small and large institutions

Links discussed:

• Valiify
• Ted's LinkedIn Profile