Financial Futures
54 episodes - English - Latest episode: about 1 year ago - ★★★★★ - 4 ratingsThe way we move money is changing. Fast. We want control at the touch of a finger-print. We want to send money in real-time – to the other side of the world. We want everything in one place, integrated, seamless and on our devices. Ubiquitous, embedded, fast, standardized, frictionless and secure. Global finance trends are hurling towards a unanimous conclusion.
These are our Financial Futures.
Each episode, we size up the bleeding edge of fintech innovation and explore the trends that are already transforming the way the world pays, banks and invests across the globe. And the mechanisms we’ll need to prosper in this brave new landscape.
Is the world’s technology up to the challenge? Are we?
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Episodes
Enabling modern banking with digital implementation
April 04, 2023 08:00 - 28 minutes - 39.8 MBIt used to be that new technology capabilities were there to support existing business channels. But technology isn't just a supporting feature for organizations anymore, technology is a business channel. And for banks to take advantage of that, they need to be flexible, they need to be quick to adopt new features, and they need to have a solid tech foundation. And above all, they need a robust digital implementation strategy. In this Financial Futures season finale, we explore ...
Managing portfolios better with wealth as a service
March 28, 2023 08:05 - 30 minutes - 41.4 MBConsumer banking, loan applications, car insurance - there are some financial services that no one was surprised to see go digital. But some others (until recently at least) seemed like they would always belong more in a mahogany-clad Wall Street office than on a phone screen. But as technology has advanced, and as consumer trends have changed, more and more services are meeting customers where they are and going digital. And the world of wealth management is no exception to thi...
Keeping customers loyal with modern rewards
March 21, 2023 08:00 - 29 minutes - 40.2 MBTime is the nemesis of the rewards program. Because as society's taste for streamlined processes has grown, the long minutes spent signing up for cards at checkouts and remembering logins online have become decidedly more inconvenient. However, those clunky loyalty program processes will soon be a thing of the past thanks to a very modern rewards solution, underpinned by tokenization and fuelled by superior data collection, making its way into the mainstream. In this episode of ...
Making big business personable with customer data platforms
March 14, 2023 08:00 - 27 minutes - 37.4 MBMost financial institutions are well beyond the mom-and-pop store stage of their journey. And while this greater scale is good for business, it does make knowing their customer base almost impossible. And knowing the people an organization serves is essential if they are to continue offering the right products and services. But how does an institution get to know thousands of customers? The answer is simple - they need a customer data platform. In this episode of Financial Futures...
Bringing banking core capabilities to the cloud
March 07, 2023 08:00 - 26 minutes - 36.4 MBAt the center of every bank’s operation is its mainframe. These computing behemoths power all of a bank’s core processes, allowing institutions to function day to day. But mainframes the world over are facing some challenges. They’re becoming difficult to maintain with the talent pool of specialists qualified to keep them operational dwindling each year. Plus, the yearly cost of running them is high and likely to keep rising. Banks need to upgrade their cores to a more sustainable ...
Fortune Favours the Brave: Entrepreneurialism in fintech
December 01, 2022 06:00 - 30 minutes - 42.1 MBCreating a startup in any sector is a challenge. But given the level of technology, regulation, and specialist knowledge required, creating a successful business in the fintech space is even more complicated. But thanks to technology partners (and competitors that are always on the lookout for new innovations), visionaries in fintech don't need to go it alone when trying to bring their products to market, making entrepreneurialism in fintech a truly unique pursuit. On today's episo...
Helping FIs Help the World: ESG and BPO
November 24, 2022 06:00 - 28 minutes - 38.7 MBESG has become an increasingly important factor for investors over the years, but, recently, it's become a top priority for customers, and even employees, too. And with this increased pressure to be seen to be doing good, financial institutions are looking for new ways to improve their environmental, social, and governance credentials. However, finding ways to boost these efforts aren't always easy wins and organizations need help to work out where improvements can be made - and thi...
Financial Education for Kids: Creating a financially inclusive society
November 17, 2022 06:00 - 36 minutes - 49.7 MBForming good habits takes time. But for some young people, forming the right ones around managing finances happens either far too late, or not at all. And as new financial products emerge, and as our relationship with cash becomes more abstract, the task of teaching children how to manage money is getting more complicated. So complicated in fact, that even the schools can't keep up. But what if learning how to balance the books wasn't just left up to the schools? What if institution...
Disruptive Themes and Key Trends
November 10, 2022 06:00 - 30 minutes - 41.7 MBFor every successful technological solution, there are dozens more relegated to history. Betamax, Zune mp3 players, Google Glass. All three were part of industries that saw enormous success (home video, digital music, and augmented reality); however, these products never won the battle for supremacy. So what separates the successes from the failures? What makes a trend long-lasting? And how do you determine which new technologies to place your investment dollars in? In short, how d...
Finance 2030
November 03, 2022 06:00 - 28 minutes - 39.3 MBThe next generation of fintech is just around the corner. Gen one brought financial institutions greater technological integration during the dot-com boom, and gen two delivered traditionally in-person functions digitally thanks to the use of APIs and the cloud. But gen three will bring the financial services industry into a new era, building upon the successes of gen one and two to enable the greatest user and institution experience yet. In this episode of Financial Futures, we ta...
Building Better Businesses
October 27, 2022 06:00 - 28 minutes - 39 MBGame-changing ideas don't come along very often. But when they do, organizations need to develop them fast or risk missing out on the opportunity they present. But, very often, fintechs and other financial institutions don't have the time or resources to develop innovations when they present themselves, meaning opportunities go unrealized. So if organizations really want to bring in new capabilities they can't just leave it to chance and hope that someone else will develop breakthro...
Innovation as a Service
October 20, 2022 06:00 - 28 minutes - 39.7 MBGreat innovations don't come along every day. And, usually, these ideas can't be fully realized unless the right conditions are met. Funding needs to be available, key players need to have free time, and resources need to be ready to go if any new solution or technology is to have a chance of getting off the ground. And, traditionally, chance is precisely what it came down to. But now there's a new way to innovate. A method that doesn't rely on Goldilocks conditions for any hope of...
Accelerator Programs
October 13, 2022 06:00 - 25 minutes - 34.8 MBGetting any business off the ground isn't without its challenges. And while investment can be a big hurdle to overcome, it isn't the only one. Securing industry expertise, acquiring customers, gaining access to the right tech - these are just a few of a whole host of challenges startups need to solve in order to bring their innovations to life. But rarely can startups find all of these resources from one source, unless they look to accelerator programs. In this season of Financial ...
Banking as a Service: Customer acquisition without boundaries
August 18, 2022 11:25 - 30 minutes - 70.3 MBGrowing a customer base is one of the toughest challenges any business will face - and regional banks are no exception to that rule. For many organizations, a good marketing campaign or the opening of a new brick-and-mortar location might encourage the kind of expansion they're looking for but results aren't guaranteed. However, banks don't have to rely solely on flashy ads or opening new branches because there's another solution to their growth ambitions - banking as a service. ...
Open Banking: The hidden gem of financial management
August 11, 2022 11:00 - 28 minutes - 38.6 MBIt's not uncommon for people to bank with more than one provider. Add into the mix mortgages, finance agreements, insurance, or any of the other countless financial products we all purchase, and it doesn't take long to get overwhelmed by the incredible number of services we need to keep on top of. Because with every product comes a new platform, a new username, and a new login - making it almost impossible to get a snapshot of what your daily finances actually look like. But there ...
Cryptocurrency: A new frontier for regional banking
August 11, 2022 07:20 - 29 minutes - 41.2 MBCrypto used to be the counterculture currency of choice. Giving participants an alternative to the centralized monetary systems of nations, cryptocurrency allowed those in the know a way to transact and invest without the use of fiat currency. But in recent years, cryptocurrency has emerged from the realm of alternative investments and found its place in the world of mainstream finance. And with so many platforms offering retail and commercial customers a way in, banks of all sizes ...
Regional Banks: How to future-proof a financial institution
July 28, 2022 11:00 - 27 minutes - 38.4 MBLike many organizations, regional banks are experiencing a time of rapid change. In the wake of a pandemic, and in order to keep up with an increasingly digitized society, these institutions need to augment their services to remain competitive among other banks and appeal to societal shifts. But regional banks don't need to go on this journey of transformation alone, with fintechs and other partners at the ready to help them make sense of the evolving retail banking industry and to ...
Robotic Process Automation: Unlock the Potential of your Workforce
July 21, 2022 06:00 - 28 minutes - 39.4 MBRegional banks find themselves in a unique space within the financial services industry - not as localized as a community bank, but not as ubiquitous as the nationals. Operating in this sector presents these institutions with a host of challenges faced by both larger and smaller institutions alike, but it also opens them up to a myriad of opportunities. And that's exactly what we'll be looking at in this season of Financial Futures. Simply the mention of automation is enough to str...
More Than Just Currency: The Crypto and Blockchain Revolution
March 24, 2022 06:00 - 36 minutes - 50.1 MBThe world has cryptocurrency on the brain. And with new coins being released, seemingly, every day, and mammoth losses and gains occurring among the most popular cryptocurrencies, it’s no wonder why. And where some see danger in those troughs and peaks, others see opportunity - opportunity not just in the financial gains to be had, but in the blockchain technology behind these digital currencies. Indeed, crypto and blockchain might not just have the potential to diversify investors’...
Enterprise Collections: Modernizing and humanizing debt recovery
March 17, 2022 06:00 - 35 minutes - 49.2 MBIn one form or another, most people have debts. It is, in many ways, an everyday part of life. Yet debt carries a considerable amount of stigma with it, which can have a negative impact on people’s willingness to seek out ways to manage it. And it’s not that people don’t want to pay, in fact, in most cases the opposite is true, but outdated procedures, unfit technological solutions, and seemingly unempathetic customer service representatives create significant barriers - barriers th...
Financial Wellness: How to create a financially-savvy community
March 10, 2022 06:00 - 34 minutes - 46.8 MBSaving used to be simple. But as our society has advanced, so have our financial needs, which has made things a lot more complicated. Phone contracts, tuition fees, direct debits for endless streaming services - the list of bills we have to manage seems to be constantly growing, and savings accounts and piggy banks are no longer enough to help us reach our financial goals. The challenge of keeping our finances in order has evolved, and now we need to embrace new tools and a new mind...
BNPL: Protecting business and consumer cash-cushions
March 03, 2022 06:00 - 31 minutes - 43.5 MBWhen it comes to purchasing big-ticket items, our spending options have, traditionally, been pretty limited. Either scrimp and save until we can afford what we want, or borrow the money through a loan or finance agreement and pay even more in interest fees. But thanks to the myriad of terms and conditions and strict eligibility requirements, getting access to these products can be difficult. But a new product has made its way onto the spending scene over the last few years, providin...
Fintech Ecosystem Innovation: Financial Service Platforms Evolved
February 24, 2022 06:00 - 25 minutes - 35.6 MBFinancial institutions, businesses, and customers are seeing dramatic advances in the tools and services they use at an ever-increasing rate. As demand for immediacy and convenience continues to grow, fintechs are rising to the challenge to deliver more and more banking solutions at the points where people need them most. But behind the multitude of new apps and services, the most impressive changes are taking place in the fintech ecosystems powering these tools. In this season of ...
Fighting Fire with Fire: Risk and Compliance in a Chaotic Era
October 18, 2021 18:00 - 35 minutes - 49.3 MBAs regulators clamp down and criminals become more sophisticated, the roles of Chief Compliance Officers and Chief Risk Officers are becoming more complex. CROs and CCOs are the strongest lines of defense for financial institutions, but in order to carry on protecting their firms, they must embrace technology in order to manage the ever- increasing number of risks they face. But what are the solutions keeping them a step ahead of the fraudsters? And how are these technologies affect...
AI and Innovation: Accelerating Digital Transformation
October 11, 2021 18:00 - 32 minutes - 44.7 MBTechnology is advancing at a blistering pace and it's causing clients to ask for more from institutions in the capital markets. Investors want access to real-time data and insights and they want this service packaged up in slick, smartphone-like experiences. And if buy and sell-side firms want to meet these needs, they'll have to adapt and upgrade their own systems and embrace technologies such as artificial intelligence and machine learning. In this episode of Financial Futures, w...
Frontrunners of Modernization: BPaaS and the Cloud
October 04, 2021 18:00 - 33 minutes - 46 MBThe capital markets must look to the future. As institutions generate more data and clients demand more insights, it won't be enough for firms to rely on legacy systems. With solutions such as BPaaS and Cloud computing, institutions have hope. By streamlining data processes through modern BPaas solutions, firms in the capital markets can regain their competitive edge and maintain the resilience they need to move forward. In today's episode, we speak to Capital Markets Specialist f...
ESG: Making Business Better
September 27, 2021 18:00 - 33 minutes - 45.8 MBMove over ROI. ESG is the hottest abbreviation in the capital markets now. Environmental, social and governance ratings aren't just the mark of a sustainable organization, to some extent, they're even a strong indicator of a good investment. And with societal expectations and investor demands changing, firms in the capital markets need to have these investment options in their portfolio if they want to keep clients happy. In today's episode, we speak to Executive Vice President and...
Never More Than Now: Data, Digitization and the CX
September 20, 2021 18:00 - 32 minutes - 45.3 MBThe capital markets are constantly evolving. But when the world had to overcome the challenges thrown up by the pandemic, that evolution accelerated exponentially. Almost overnight, employees went remote, meetings moved online, and an entire industry realized that the key to resilience depended on the ability to provide premium customer experiences through digitization powered by centralized, seamlessly accessible data. In this season of Financial Futures, we'll be looking at the c...
The Future of Financial Wellness
June 10, 2021 09:00 - 37 minutes - 51.9 MBA recent study done by the American Psychology Association found that nearly 2 in 3 adults say that money is a significant source of stress in their life. This financial stress is an epidemic issue, affecting both individuals and communities alike. But according to Brian Fey, Senior Director, Digital Banking at FIS, better education on managing money might be the solution to widespread stress. He says financial wellness programs are “a tangible way that we're helping the community g...
Your digital transformation is not optional–it’s necessary
June 03, 2021 09:00 - 30 minutes - 42.1 MBSo far in this fifth season, we’ve explored the nuances of the digital transformation. We’ve looked at real-time posting trends, changes in commercial banking, and the new digital reality of retail lending. But in this episode, we’re asking why digitize now? Nick Woodcock, Senior Vice President, Group Executive, Digital Banking, at FIS says that for banks, “it’s a matter of competitive survival.” COVID-19 expedited this need for digital services–mobile signups and transaction...
Retail Lending in a Digital Reality
May 27, 2021 10:00 - 27 minutes - 37.5 MBIn a digital era, consumers don’t want to wait too long, no matter what the product. Whether they’re streaming a television show or applying for a retail loan, we expect instant availability. Andrew Beatty, Senior Vice President of Next Generation Banking at FIS, says that financial institutions need to be paying attention to these expectations: “if the consumer is dictating the pace of change, financial institutions, merchants, and retailers all have to evolve towards that.” In...
Are banks ready for real-time?
May 20, 2021 09:00 - 36 minutes - 49.6 MBThe way we bank has evolved from brick-and-mortar branches to an almost completely digital customer experience. So how will the next generation bank? According to Matt Lessig, Vice President of Next Generation Banking at FIS, real-time banking is the future of how money will move. In season five of Financial Futures, we're focusing on banking's digital transformation, and why the switch to digital is no longer nice to have––it's a need. We'll unpack what this digitization trend...
The digital transformation of commercial banking
May 13, 2021 10:00 - 32 minutes - 45.3 MBThanks to digitization efforts, commercial banks have weathered the storm of COVID-19. Contactless payments, mobile deposits, and remote services kept money moving and businesses afloat in 2020. But, according to Brian McCumber, CPA, director of Next Generation Banking at FIS, even as financial institutions quickly pivoted, the fundamentals of banking remained steadfast. In this season of Financial Futures, we're focusing on banking's digital transformation. Digitization is no...
RTP Predictions: what’s next for this innovation?
April 29, 2021 10:00 - 36 minutes - 50.6 MBDigitization of the payment process was inevitable, but the timeline to real-time was expedited in 2020. Now that the future of payments is here, what’s next for instant payments? In the season finale of Financial Futures, Aman Cheema, Senior Vice President Global Real Time Payments, Strategy, and Innovation at FIS, shares his prediction for what’s ahead for real time payments. We’ll explore barriers to innovation and what it will take to get to real-time payments from obscurity to ...
Can cross-border payments be made in real time?
April 27, 2021 10:00 - 28 minutes - 39.3 MBAdoption and usage of real-time payments has accelerated during the COVID-19 pandemic, with the volume of real-time payments surging around the globe. In this new era of faster payments, Daniel Mayhew, GM, Real-Time Payments Cross-Border, FIS, says "the digital borderless commerce economy of 2021 demands faster payments, more efficiency, and more transparency. A simplified solution for cross-border payments is what we need." Traditionally, when money is sent from one country to ano...
The U.S. real time revolution
April 15, 2021 10:00 - 27 minutes - 37.6 MBReal time payments have only been a reality in the United States since 2017. The RTP network was the first new payments scheme in the U.S. in 40 years. But even in its adolescence, RTP in the U.S. has had a demonstrable impact. Financial liquidity is crucial for small businesses, consumers and corporations alike, and real time payments have shifted the power to the people. No longer are banks the sole gatekeepers to financial flexibility. Add a global pandemic and the growing gig ec...
Global RTP Trends
April 08, 2021 10:00 - 32 minutes - 44.5 MBReal time payments are not a recent innovation. Japan first introduced the world to instant payments in 1973, with the Zengin System. In comparison, the UK’s first real time payment system went live in 2008, while the EU launched theirs in 2017. Why are there such gaps in this global timeline? In this episode of Financial Futures, we explore the complexities and challenges of rolling out new payments schemes like RTP. Bernd Richter, Senior Vice President and Group Executive, Gl...
Real-time Payments: A new era of instant?
April 01, 2021 10:00 - 26 minutes - 36.2 MBOver the years, payment methods have evolved from slow to fast, to faster. Wire-transfers improved upon sending money via check, and same-day ACH sped up this process even more. But we’ve now entered the payment era of instant. With real-time payments, money can be sent instantaneously with the click of a button. But this immediacy means more than convenience--making payments in real time is revolutionizing our fractured financial landscape. In this season of Financial Futures, we'...
How To Utilize Big Data
March 25, 2021 10:00 - 30 minutes - 42.2 MBEvery day, humans produce 2.5 quintillion bytes of data (that's 2,500,000,000,000,000,000 if you're curious how many zeroes that entails). And a large portion of that isn't the usual emails, tweets, and YouTube uploads - it's data we generate in the background as we go about our lives. It's location data, transaction data, credit card usage data, cookies, search histories and so much more. And as useless as this data might seem to us, to our financial institutions it offers a unique...
DEI in Credit Unions
March 18, 2021 10:00 - 29 minutes - 40.7 MBAll around the world, the push for equality has accelerated in recent years. People want to see themselves represented in the institutions they patronize, and they want fair treatment and equal opportunities in the workplace. Diversity, equity, and inclusion (DEI) is what businesses, employees, customers, and members are calling for. But it's not just about ticking boxes and meeting quotas - it's been proven to have a hugely beneficial impact for businesses and their customers, impr...
P2P Predictions
March 11, 2021 16:38 - 27 minutes - 38.1 MBPeer-to-peer payment platforms aren't a new concept. In fact, we've had the ability to move money through apps as far back as 2008. But the system was fractured and only adopted by individual institutions or small groups. Now the P2P landscape is unrecognizable from what it once was. Zelle has unified credit unions and banks, offering a one-size-fits-all solution for peer-to-peer payments. And along with technological changes, attitudes towards the platform have changed too, thanks ...
Harnessing the Power of AI
March 04, 2021 11:00 - 33 minutes - 45.7 MBAI is inching more and more into our daily lives, and one area it's having a profound impact on is our financial institutions. With its ability to learn from interactions and mimic human behavior, credit unions in particular stand to benefit the most from this rapidly advancing technology. And with uses in both customer-facing roles and behind the scenes, AI is looking set to elevate the member experience of credit unions. In this episode of “Financial Futures,” we find out what e...
Card Payment Evolved
February 25, 2021 11:00 - 30 minutes - 42.3 MBOver the last few years, contactless card payment adoption has skyrocketed thanks to universal concern over hygiene and the need for convenience. As we explore the technology and issues that are shaping the credit union industry, we'll ask Matt Collicoat, VP of Strategy for Cards and Money Movement at FIS what some of the emerging technologies are and how they will benefit credit unions and their members. Over the last few years, contactless card payment adoption has skyrocketed th...
Beyond Boomers – Our Wisdom Keepers
February 23, 2021 11:00 - 24 minutes - 34.1 MBLast but not least in our series on how the generations shop and pay, we get to know the Beyond Boomers. They’re our “wisdom keepers” who grew up in a time when life and business moved at a slower pace. Beyond Boomers have the lowest rates of digital payment adoption, and for many of them, technology is like a foreign language. But with a little patience, they too can become fluent. In this episode, Danny Russell, a payment technology strategist at FIS, joins us to talk about how t...
The Baby Boomers – Raised in Prosperity
February 18, 2021 11:00 - 27 minutes - 37.7 MBOk Boomers, it’s your turn. Having grown up during a time of rising prosperity, the Baby Boomers value quality, service, and convenience. But this aging generation can be finicky when it comes to online shopping. Whether because of old-school preferences or a little impatience with technology, companies have to make the experience as seamless as possible to get the Baby Boomers on board with digital shopping trends. In this episode, FIS Worldpay’s Pinar Alpay and Maria Prados join...
Gen X – Generation Zen
February 16, 2021 14:40 - 25 minutes - 34.5 MBAs the first generation whose parents often both held jobs outside the home, members of Generation X are known for having a healthy distrust of authority and for doing things their own way. Gen-Xers tend to be ambivalent about entrusting their money with digital payment technologies, but that doesn’t mean they’re tech-averse. In this episode, host Erin Dangler and fellow Gen-Xer Jason Pavona, senior vice president and general manager of global e-commerce at FIS, hash out why their...
Millennials - Coming of age in a digital age
February 11, 2021 11:00 - 25 minutes - 35.3 MBBorn between about 1980 and 1996, millennials saw the advent of the internet--unlike Gen Z, who were born after it became a household term. Living online comes naturally to millennials, but they still remember and value older ways of doing things. That means companies have to up their omnichannel marketing game if they want to win over this versatile crowd. We talk with a member of the millennial generation today as we continue our series on how the generations like to shop and pay...
Gen Z - Living In Technology
February 09, 2021 11:00 - 27 minutes - 37.8 MBThis season, we’re taking a closer look at each of the five generations alive today and how they like to shop and spend their money. Armed with survey data from 15,000 consumers in 15 countries, experts from FIS will tell us how the way we pay is changing across generations and around the world. How do age, culture, and technology interact to make the generations unique, and which global trends unite us all? First up: Gen Z. Phil Pomford, general manager of global e-commerce at FIS...
Fraud In The Digital Age
December 15, 2020 11:00 - 27 minutes - 38.3 MBAs the ways we spend and move our money go ever-more digital, fraud and identity theft have followed not far behind. The technology revolutionizing financial services has created new opportunities for fraudsters to exploit. But it also brings new tools that we can use to protect ourselves--including identity safeguards that are more high-tech, and definitely more convenient, than the passwords and nostalgic security questions of yore. Eric Kraus, vice president of fraud, risk, and ...
The untapped potential of commercial credit cards
December 01, 2020 11:00 - 28 minutes - 38.7 MBCorporate credit cards can be a win-win for companies and their employees. For employees, they’re a convenient and rewarding way to pay for expenses, and for companies, they provide better transparency and control over their spending. So why aren’t more companies using them? While overall commercial card spending is growing, a lot of small and medium-sized businesses still haven’t adopted them. But Ellen Winterod, senior product manager at FIS, says that’s starting to change. As t...