Inside Vanguard's CX modernization journey

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller Banks and other FIs continue to look for higher engagement with their customers. Logging into an account and refreshing a balance doesn’t create relationships. So, what’s an FI to do to drive real engagement. Michigan State University Federal Credit Union has rolled out a loyalty program that delivers gift cards directly to customers inside their accounts by merchants trying to acquire new customers. The program uses customer data to target offers that matter. And this is just the beginning as banks and credit unions find ways to extend their value proposition, building and strengthening relationships with their customers. I’m joined by Ben Maxim, Chief Innovation Officer at Michigan State University Federal Credit Union, and Brendan Grove, CTO of PrizeOut, who are to share their insights on how financial institutions are looking to provide more value to their customers, extended beyond that tried and true toaster. We’ll discuss the power of partnerships between credit unions and fintech companies, and explore topics like the evolution of loyalty solutions, the challenges of integrating new technologies into existing credit union infrastructures, and the exciting possibilities for enhancing member engagement through personalized data-driven experiences. So, whether you're a bank or credit union product person, a fintech aficionado, or just curious about the future of banking, you're in for a treat. Let's get started!

We recently held a LinkedIn Live event, entitled "Card Launch 101," where we dove deep into the strategies, insights, and best practices for launching and growing successful card products in the fintech and banking industries. Featuring industry experts: Scott Johnson, Vice President of Revenue at Galileo Financial Technologies Marc Butterfield, SVP of Innovation and Disruption at FNBO  Jack Rubin, SVP of Consumer Financial Solutions at DailyPay Listen is as these professionals share their wealth of knowledge and experience in scaling partnerships, driving innovation, and navigating the complexities of launching card products in today's dynamic landscape. Here's what we discussed: Understanding Card Launches: Gain insights into the key components of a successful card launch strategy, including strategic planning, market research, and product development. Identifying Your Audience: Learn how to identify and understand your target audience through effective market research and data analysis. Creating Your Card: Explore the process of designing and developing card products, from features and branding to user experience and regulatory compliance. Partnerships and Business Development: Discover the role of partnerships in scaling card programs and expanding market reach, with real-world examples of successful partnership strategies. Marketing and Promotion: Get insider tips on marketing and promoting your card product effectively, including targeted messaging, branding, and customer acquisition tactics. Case Studies and Success Stories: Hear real-world examples of successful card launches and gain valuable insights and lessons learned from industry leaders. To download Tearsheet's Card Guide 101, from ideating, partnering, building, launching and optimizing a card program, go to http://tearsheet.co/cardguide

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. In this episode, we'll be diving deep into the world of customer experience (CX) transformation with Vanguard, one of the leading names in investment management. Joining us are Aaron Taylor, Chief Information Officer, and Marco De Freitas, Head of CX and Digital, two seasoned professionals who have been instrumental in Vanguard's CX modernization journey. Throughout our conversation, we'll explore Vanguard's approach to modernizing its digital channels, client journeys, and service platforms. From laying down the foundational pillars to unlocking the potential of ‘CX Alpha’, Aaron and Marco share invaluable insights into how Vanguard is improving the way clients interact with their services. We'll delve into the parallel advancements made by Vanguard, the impact of fintech innovations on their CX strategy, and how they measure the success of their initiatives both internally and with clients. Stay tuned as we uncover the seminal steps behind Vanguard's CX transformation, explore the significance of data accessibility and personalized interventions, and discover what lies ahead in their journey towards even greater CX innovation. So sit back, relax, and get ready to embark on an insightful episode into Vanguard’s CX modernization journey. Let's dive in!

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Today, I have the pleasure of sitting down with Dee Choubey, CEO of MoneyLion. In our chat, Dee takes us on a journey through MoneyLion's evolution, from its early days as a venture-backed neobank to its current position as a headline fintech stock. With a blend of insight and humor, he shares the company's shift from a growth-at-all-costs mindset to a more sustainable position focused on distribution, strategy, and morale. Through market ups and downs, Dee underscores the vital role of staying mission-driven and the focused dedication of MoneyLion's team to empower Americans with better financial tools and literacy. Looking ahead, Dee paints a vibrant picture of MoneyLion's future, where AI-driven search capabilities impact how consumers interact with their finances. MoneyLion isn’t the same company it was when I spoke with Dee almost 5 years ago. Since then, the firm has acquired two businesses which now function as an embedded banking product platform and an influencer content studio. With a comprehensive product catalog, a dynamic consumer marketplace, and trendy media business capabilities, MoneyLion is poised to lead a charge in reshaping the future of finance. So buckle up for an enlightening and entertaining conversation as we explore the past, present, and future of MoneyLion with the ever-insightful CEO, Dee Choubey. The big ideas Shift from Growth-At-All-Costs to Sustainable Strategy: "In 2019, we were a venture-backed, serious business. The expectation was continued growth of 100 to 150%. Keep burning. Don't worry about the burn." Maniacal Obsession with Mission: "What got us through it was a maniacal obsession with mission. Our mission is to rewire the financial system, to give every American the right tools to make the best financial decisions." AI-Driven Financial Search Capability: "Our search capability, AI-driven search across all of your financial institutions, you can talk to MoneyLion very soon and say, 'Hey, what happened this day, last year? This day, two years ago?'" Empowering Americans with Financial Literacy: "Our ability to actually offer at scale, consumers the right financial basket, I think we're probably further ahead on that than most because we have the consumer in the marketplace." Focus on Distribution, Strategy, and Morale: "My role has moved from being much more tactical and execution-oriented to much more focused on distribution, strategy, and morale, kind of like the vision and the mission." Staying Mission-Driven Amid Market Volatility: "It's always better to multiply your options by a larger number than a lower number. We've had our days. At one point, the market cap had fallen below $100 million. But it's just owning your destiny."

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. I'm thrilled to bring you a special episode today. After doing this for over 10 years, it’s not often I’m on the other side of the mic, being interviewed. But that’s exactly what we have in store for you. What you're about to hear is a recording from my recent appearance on Gusto's SMB Tech Innovators Podcast, hosted by Brian Busch. In this conversation, Brian and I explore the intriguing intersections of traditional financial institutions, technology, and innovation. Throughout our discussion, I share insights drawn from over 15 years of experience in the industry, including my role in reporting financial services news and producing over 650 podcast episodes. Together, we unravel the complexities of the financial services landscape and shed light on the evolving role of technology in shaping its future. Join us as we delve into key themes such as: Tearsheet’s journey and our focus on incumbent innovation. The importance of partnerships between traditional finance and fintech. Regulatory challenges faced by fintech entrepreneurs. The transformative impact of embedded tools on SMB technology. Success stories like Intuit and QuickBooks' ecosystem. My insights on AI, quantum computing, and crypto in finance. How banks are adapting to embrace new technologies. The evolving landscape of fintech acquisitions. This recording captures an interesting dialogue that I'm actually quite proud to share with you. So without further ado, let's dive into the conversation and explore the fascinating evolution of the financial services industry. Here’s my conversation with Gusto’s Brian Busch. Here's a link to the original conversation: https://embedded.gusto.com/blog/financial-services-technology-podcast-with-zack-miller/

Tearsheet Editor-in-Chief Zack Miller hosted a LinkedIn Live session featuring two of our top reporters, Rabab Ahsan and Sara Khairi. It was a chance to go behind the scenes of our reporting and go deeper into what's happening at the intersection of financial services, new models, rising expectations, and evolving technology. We explored the fascinating intersection of finance, Gen Z trends, and influencer culture, discussing how unconventional strategies like budgeting coloring books are reshaping financial literacy. We'll also dove into how some incumbent firms, like Bank of America and Capital One, are exploring unconventional methods to capture consumers’ interest in financial education as a starting point.

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Today, I invite you to join us as we uncover the story of Curve, a creative fintech that's a sort of operating system for money, impacting the way people spend, send, see and save money Step into the world of Shachar Bialick, founder and CEO at Curve, as we traverse the company's path from its humble beginnings in 2016 to its strategic expansion into international markets. It's a tale of resilience, grit, and determination, as Curve works to carve out its place in a competitive fintech space. Along the way, we'll uncover five pivotal insights that shed light on Curve's approach to finance. From offering customers a real-time, panoramic view of their finances to navigating the complexities of international expansion with precision and foresight, Curve is reworking the way people interact with their money. Shachar shares the intricacies of Curve's revenue model, where interchange fees, subscriptions, and platform revenue converge to create an ecosystem of financial empowerment. It's a model built on innovation, adaptability, and a pursuit of customer-centric solutions. But beyond the numbers and metrics lies a deeper story of personal motivation and resilience. As Shachar shares insights from his own journey, we gain a glimpse into the driving force behind Curve's success—a shared commitment to empower individuals to take control of their financial destinies. So, join us as we peel back the layers of Curve's story, uncovering the passion, vision, and sheer determination that have propelled this fintech to get to where it is today. Here’s my conversation with Curve’s Shachar Bialick

Welcome to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. For the past 18 months, we’ve been exploring what it will take to really deliver financial services and products that resonate with Gen Z. As the biggest generation in history, getting this right can be an existential problem for certain types of FIs It won’t be easy. But according to Mahesh Raghavan, Associate Managing Director of Strategy at Publicis Sapient, it can be done using some untapped strategies used elsewhere in financial services and tech. Fresh from his session at the Tearsheet Gen Z Symposium in NYC, Mahesh is here to unveil some hidden gems of what it would take to build Gen Z-friendly financial products. Mahesh uncovers the often-overlooked strategies that could hold the key to captivating this discerning demographic. From personalized offerings to holistic loyalty initiatives, Mahesh shares five transformative tactics reshaping the financial landscape for the Zoomer generation. But the journey doesn’t end there. Mahesh guides us through the intricacies of peer-oriented engagement and intergenerational approaches, shedding light on Gen Z's financial mindset. Moreover, Mahesh underscores the importance of research, hypothesis, and experimentation in ensuring the viability of these strategies. In an era where innovation reigns supreme, Mahesh’s insights serve as a beacon of guidance for financial firms seeking to forge meaningful connections with Gen Z. So, dear listeners, join us for this interesting presentation as we unearth the latent potential of Gen Z-friendly financial products with Mahesh Raghavan. Read a write-up on Mahesh's talk here: https://tearsheet.co/banking/exploring-untapped-strategies-to-create-gen-z-friendly-financial-products-with-publicis-sapients-mahesh-raghavan

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. Today, we're joined by Don Relyea, the Chief Innovation Officer at U.S. Bank, and Todder Moning, who leads the bank's applied foresights practice. They've recently returned from scouring the halls of CES, the annual consumer electronics show, on a mission to uncover the latest trends and emerging technologies that could disrupt - or benefit - the financial services industry. From the rise of edge AI and machine vision capabilities that could enable personalized, privacy-preserving experiences, to sustainable innovations like water generation devices that challenge traditional infrastructure, Don and Todder share the diverse insights they gathered at this year's CES. You'll hear how the U.S. Bank innovation team is working to transform these market signals into strategic advantages for the bank. They'll explain how technologies first showcased in consumer products are reshaping customer expectations, and how the bank is preparing business leaders to adapt to this rapidly evolving landscape. By considering both the upsides and potential downsides of emerging innovations, the applied foresights practice is helping ensure US Bank stays ahead of - rather than chasing - the pace of change. So settle in, as we dive into the future-focused mindset that's guiding innovation at one of the country's largest banks. Let's get started.

Welcome, everyone, to another episode of The Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I’m Tearsheet’s editor in chief, Zack Miller. As we explore how financial services is attempting to cater to younger customers, it’s clear – some neobanks and fintechs resonate with Gen Z much more than traditional FIs. That may be because they have identified niche consumer groups and are thinking out of the box when it comes to designing products for them, according to Josh Stephens, SVP of Product at Current and Tony Tran, CEO and co-founder of Lumanu. Both these professionals – and the companies they’ve helped build – stand out among just a handful of financial services firms building their products and their services, designing their infrastructure, and establishing the channels to foster relationships with their clients today and into the future. Stephens and Tran joined me on stage for a fireside chat in March at Mastercard’s Tech Hub in NYC at our Gen Z Symposium, to talk about how their companies are catering to Gen Z. Our conversation explores the evolving standards banks have to meet when serving younger customers. We spend a good deal of time exploring the importance and design of good UX for today’s customers. We end with a discussion about how communities may be the way to educate and engage Gen Z. Here’s my conversation with Josh Stephens and Tony Tran.