Ninth Wave’s Post

The hosts of Fintech Takes & the Breaking Banks Fintech Podcast join us this week to discuss the impact of open banking on underwriting. "Open banking is transforming the financial services landscape." In a special episode with TWO guests this week, Counting Change sits down with fintech experts Alex Johnson and Jason Henrichs to understand open banking and how institutions can take advantage of it to empower their consumers. The discussion delves into the evolution of open banking, its effects on underwriting and cash flow analysis, and the challenges that community banks face in adapting to these changes. Alex and Jason provide their insights on how open banking can improve consumer experiences and foster competition within the financial services sector. They also discuss what banks must do to effectively differentiate themselves to customers in today’s landscape. #OpenBanking #CustomerExperience Alloy Labs Stream this episode now on your favorite podcast platform and join the conversation to hear more about how open banking is shaking up the industry!

We have entered a new era of open banking. This means changes for both financial institutions and fintechs alike. We partnered Alex Johnson at Fintech Takes to break down key parts of the playbook that everyone should know about the new landscape of open banking. 🔗 https://lnkd.in/e8P5Z3zP

There's single framework, timeline or set of initiatives, features, apps, project plans or technologies will point your bank to transformation nirvana. The end of digital banking transformation. #fintech #digitalbanking #finserv #financialinstitutions #banks #creditunions https://lnkd.in/enh7k9Ei

Fintech CEOs, if you think you’re better than the core banking providers at any particular aspect of the core banking suite, ask yourself if you are 10X better. The real reason why core banking is so resilient is that they’re incredibly good at selling “best in suite” bundles. That means a series of products that work together to deliver a service. When core banking providers sell solutions to banks, they figure out a banks budget before their proposal, then build a package that throws in all this stuff into an annual service offering. Once a product, for example Bill Pay, is included in a bank’s purchased bundle, it’s incredibly hard to unbundle. It was built that way to give the CFO of any bank a very hard approval decision on adding any new service to the suite. Where I see a lot of Fintech CEOs go wrong is that it’s easy to claim your point solution is better than any one product in the bundle. But is it exponentially better to the point that it’s worth the pain for the bank to say yes?

A few days ago, I engaged some SMSE business owners about how they manage thier finances. There had been a temporary service outage that affected most traditional banking app, and these business owners voiced how they have abandoned traditional banks and opted for the use of FinTechs companies that offer banking as a service. In this article, we share a breakdown of these two different yet similar financial institutions and how their relationship is shaping the way we interact with our money https://lnkd.in/dSjnVz8z

Facing financial fragmentation in digital banking? Discover the 4 key steps to combat this challenge and ensure a seamless, integrated financial experience for users. This insightful article from Jack Henry's FinTalk blog offers valuable strategies for fintech leaders looking to enhance digital banking services. A must-read for anyone striving to bridge gaps in the fintech ecosystem: https://lnkd.in/g7E6nZuN #fintech #financialplanning #financialfragmentation #financialmanagement #forcasting #aidriven

I’m excited to share my latest blog on 'Open Banking: Breaking the Monopoly of Traditional Banks with APIs'. Check it out - https://lnkd.in/e3DNNhzG

Personal Reflection on Industry Milestones: "Reflecting on my journey in digital banking over the past decade – from early online banking to the rise of fintech disruptors. Excited for what the future holds!"

Why Niche Banking May Be Community Banks' Secret Weapon NYMBUS CEO discusses how community banks can thrive by focusing on specialized market segments and leveraging technology to deliver personalized solutions that larger institutions can't match. https://buff.ly/42AYs6o #FinTech #FinServ #Banking