Special Episode: Digital Love in the Time of COVID

On this Special Episode of Breaking Banks we spoke to bankers about why they love what they do and highlighted the importance of purpose in digital advancement.

Show Hosts:

Jason Henrichs

Show Guests:

Mary Kate Loftin of M&T Bank
Curt Queyrouze of TAB Bank

TOPICS DISCUSSED:

[2:40] In today’s landscape does digital banking take the humanization out of banking?

[4:50] Mary Kate Loftin talks about looking ahead in innovation and M&T Bank’s partnership with MX.

[6:45] How should banks manage employee happiness during the COVID19 crisis?

[11:52] Mary Kate talks about the increase in usage of Zelle during the coronavirus pandemic. 

[14:55] Jason asks Mary Kate does meaning and purpose account for a happier workplace? How do the customers benefit when bankers are happy?

[17:10]  What does it take to bring surprise and delight from a banking product?

[25:00] Jason asks Curt Queyrouze why he chose to become a banker.

[30:02] Is there a difference in passion between banks and fintechs?

[33:12] Curt says it’s important to take purposeful risks in technology.

[34:05] Utilizing a jobs-to-be-done mentality can help solve customer problems and issues.

[35:15] How do you get an internal culture to change their mindset around the fear of failure?

[44:00] How important has it become for banks to hire passionate people to be bankers and be able to adapt to change?

RESOURCES MENTIONED:

MX 

M&T Bank

Adobe Analytics

Microsoft Teams

Trello

Zelle

Instacart

Docusign

TAB Bank

Jack Henry & Associates

Show Sponsors:

Breaking Banks is the #1 global fintech radio show and podcast, created by Brett King. Tune in for a look at how technology and customer behavior will bring about more changes in banking in the next 10 years, than in the last 200 years. Listen every Thursday at 3pm eastern time, noon pacific on the VoiceAmerica Business Channel. Subscribe at Provoke.fm to hear the show nearly 2 million listeners from 72 countries are raving about.

FULL TRANSCRIPTION
Jason Henrichs:
Hey, if you’re happy and you know it, clap your hands. I have not gone crazy, although if hear that song one more time, I might be going crazy in this pandemic. But today on Breaking Banks, we’re going to be talking with Mary Kate Loftus, Senior Vice President and Director of Digital at M&T Bank, and we’re going to be talking about happiness.
Jason Henrichs:
Now, the first time Mary Kate and I started this conversation, it was relatively easy to be happy, because we were actually at MX’s Fintech Summit up at Sundance, staring at the mountains and the snow, and everything was good. No one was locked down, spending all this quality time, no one was doing homeschooling.
Jason Henrichs:
But one of the things, Mary Kate for being… Apologies for saying this, you’re a digital nerd. Which is part of why I like you. But you are so happy about being a banker. And it was actually infectious in that level of how excited you are to be a banker. So maybe to start, why do you love being a banker so much?
Mary Kate Loftus:
I love being a banker. You’re right. I think it is just an awesome, delightful career. I think it’s because bankers are helping people with one of the most important aspects of their life, which is how to manage their money, and how to achieve their dreams.
Jason Henrichs:
Has that changed at all? Right now, in the middle of a pandemic, we’ve got a crisis, we’ve got people who are stressed. Has that sense of meaning changed right now? I’m assuming it’s gone up, right? I don’t mean to be leading the witness, but how would you characterize the way it’s changed?
Mary Kate Loftus:
I mean, I think gone up would be an understatement. I’ve seen people, I’ve seen executives so moved by what is going on,