The Financial Brand

Forum 2024 breakout speakers and sessions are released! The Financial Brand Forum 2025 will feature dozens of how-to sessions taking a deep dive into a wide range of issues critical to your organization's growth strategy — from disruptive fintech innovations and digital marketing, to CX and generative AI. You'll learn innovative strategies, advanced techniques, and best practices from the brightest minds in banking. These sessions are packed with actionable insights guaranteed to build both your brand and your bottom line. (And keep an eye out — we have more breakout sessions to come!)

Paze, the banking industry's own digital wallet, is focused on online shopping this holiday season. By offering a convenient and private alternative to traditional e-commerce checkouts, Paze hopes to solve cart abandonment due to checkout friction. But Paze isn't just about convenience. It's bringing enhanced security to the table by tokenizing payment information, ensuring your data stays safe while you shop with ease. Catherine Murchie, head of operations at Paze, emphasizes the long-term vision: "It's not about specific numbers for us. It's about awareness. It's about the build. It's about the longer term." As we approach the holiday shopping season, Paze is positioning itself as a game-changer in e-commerce. The question is: will it revolutionize how we shop online?

The Federal Reserve's recent 50 basis point rate cut marks the start of a long-awaited easing cycle. What does this mean for banks? While many welcome the potential relief on funding costs, the path forward is far from straightforward. Banks now face critical decisions on CD pricing, non-maturity deposits, Bank Term Funding Program usage, loan repricing, and investment portfolio management. The message is clear: banks must quickly pivot their balance sheet strategies. As Eleanor Roosevelt said, "It takes as much energy to wish as it does to plan." In this changing rate environment, proactive planning is crucial. "At a minimum, before considering any of the forthcoming strategies in this article, the executive management team must thoroughly comprehend all facets of the models driving decision-making. There is no 'one-size-fits-all' approach," writes Darling Consulting Group's Vin Clevenger. Read his full guest post for us here:

6 Innovative App Features Pushing the Mobile App Experience Beyond Transactions Nearly half (48%) of millennials abandoning digital banking experiences out of frustration, financial institutions are innovating to meet evolving customer needs. From Bank of America's AI assistant Erica to Chase's Credit Journey®, banks are pushing the boundaries of what's possible in mobile banking. Varo Bank's Smart Ledger and FV Bank's integrated fiat and digital asset management are redefining financial management for the digital age. OneUnited Bank is tackling financial literacy with AI-driven insights, while new tools like Featurettes are enabling hyper-personalized customer engagement. The message is clear: today's consumers want intuitive experiences, personalized insights, and tools that align with their financial lives. Banks that deliver on these expectations are positioning themselves for long-term customer loyalty in an increasingly competitive landscape. Read the latest from Liz Froment:

Happening today at 2pm EST: Increasing Loyalty with One-Stop Shop Financial Solutions Banks and credit unions are striving for greater customer loyalty, but consumers are increasingly demanding more from their financial institutions. The traditional model, with its specialized and often limited offerings, no longer fully meets consumer expectations. Ready to transform your financial institution into a one-stop shop? In this presentation, Franklin Madison team members Andrea Heger—Executive Vice President and Jedd Taylor—GVP Marketing Strategy & Innovation reveal how to meet the growing demand for comprehensive financial solutions including insurance protection. By understanding key consumer segments and tailoring products to their needs—especially Millennials and Gen Z—you can create personalized experiences that build trust and loyalty.

New insights from Claritas' annual Hispanic Market Report reveal a market that now represents over 20% of the U.S. population, with an average lifetime household value of $2.5 million. This tech-savvy demographic is reshaping media consumption, with 79% watching less than 1 hour of live TV daily. For financial marketers, the key lies in a mobile-first approach. A striking 45% of Hispanic consumers use mobile for account access, with 30% preferring mobile interactions overall. Digital engagement is crucial, as nearly a third spend 1-2 hours on social media weekly. The report also highlights a strong preference for value, with Hispanic consumers gravitating towards discount retailers and competitive pricing. Remember, the Hispanic market is not one-size-fits-all. Successful engagement requires understanding cultural nuances and preferences.

Retail giant Walmart is set to leverage both The Clearing House Real-Time Payments network and FedNow for online transactions. This shift could rewrite the rules of retail payments, with experts predicting it may soon extend to in-store experiences via the Walmart Pay app. Why it matters: • Day Zero fund access for Walmart • Potential millions in daily savings • Significant impact on interchange fee dynamics "Walmart will be making millions of dollars a day off of that, and the banks will be making their investment in the technology for absolutely nothing," warns Peter Davey of Alloy Labs Alliance. Will consumers bite? The answer might lie with Gen Z.

"Interconnectedness" is more than just a buzzword in banking — it's a strategy that's paying dividends for U.S. Bank. The nation's fifth-largest bank is weaving a web of complementary products designed to serve customers better and boost revenue. Why the focus on interconnected services? A multiservice consumer generates three times the revenue of a single-service client. It's a strategy that's already bearing fruit, with U.S. Bank's consumer and business banking segment seeing a 4.4% year-over-year growth in deposits, outpacing peers who experienced an average 2.9% decline. At the heart of this strategy is the expanding "Bank Smartly" ecosystem. The latest additions — Smartly Savings and the Smartly Visa Signature Card — join the existing Smartly checking account to create a trifecta of interconnected products. These new offerings are turning heads: within 48 hours of announcement, 10,000 people joined the waiting list. "We're being more intentional with the notion of 'interconnectedness'," says Arijit Roy, head of consumer and business banking products. This intentionality is evident in the product design. The Smartly Visa offers up to 4% cashback, with rates tied to deposit balances. Meanwhile, the Smartly Savings account can earn up to 4.1% APY, with "interest rate bumps" for maintaining qualifying balances across U.S. Bank accounts. The target? Young, affluent customers at the start of their financial journey. As Derik Farrar, SVP and head of personal deposits, puts it: "We want to bring in people whose deposit relationships will grow as their finances mature."

The Fed's recent rate cut warmed the national mood, but the road ahead remains bumpy for auto lenders and buyers. As we cruise through 2024, the auto lending landscape is marked by lingering pandemic effects, rising delinquencies, and persistent affordability challenges. Jonathan Smoke, Chief Economist at Cox Automotive, puts it bluntly: "Affordability challenges will not be solved by this new path for rates." Indeed, the numbers tell a sobering story. The average monthly payment for a new car has soared to $740, a staggering 24% increase from 2021. Even used cars aren't offering much relief, with payments averaging $527, up 17.6% over the same period. Yet, amidst these challenges, some see glimmers of opportunity. As rates potentially continue to fall, refinancing existing auto loans could become an attractive option for both lenders and borrowers. Major players in the auto lending space are cautiously optimistic, carefully balancing risk and growth in this evolving environment.

Financial institutions racing to adopt AI are running headlong into a thicket of privacy concerns and consent issues. Recent headlines tell a cautionary tale. Tech giants face lawsuits for using customer data to train AI without explicit consent. It's a wake-up call for the finance industry, where trust is currency and privacy is paramount. Scott M. Giordano, Esq., AIGP, FIP, CISSP, CCSP, a cybersecurity expert, paints a stark picture: "The potential for being punished is pretty big. The problem is: How do you find out that customer data is being misused?" It's a question that should keep every finance executive up at night. But it's not just about avoiding punishment. It's about maintaining the trust that forms the bedrock of finance. As Christina McAllister from Forrester Research puts it, "This isn't a reason for companies to shy away from leveraging AI in the contact center. But they need to be concerned with how they create a transparent disclosure and consent mechanism for customers." So, what's a forward-thinking financial institution to do? The path forward isn't about abandoning AI, but embracing it responsibly. It means scrutinizing vendor contracts, anonymizing data, and conducting rigorous risk assessments. Most importantly, it means speaking to customers in plain language about how their data is used.