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by James Robert Lay on November 7, 2023
Brief Summary of Episode #348
The industry is at a crossroads, with banks and credit unions clamoring for deposits and customer retention, while fintechs are rapidly innovating to attract the same customers.
The transactional nature of current financial services fails to provide a comprehensive view of a consumer's financial health, leading to missed opportunities for engagement and support.
Raymond den Hond, Chief Commercial Officer at MX, joined the show to share his vision for the future of financial services, which involves creating a consumer-centric financial wellness feed, similar to the interactive nature of social media platforms.
By aggregating data across multiple financial relationships and applying machine learning and AI, institutions can offer actionable insights directly to consumers.
Key Insights and Takeaways
- Financial wellness and data-driven insights in banking (10:02)
- Using data to create personalized financial experiences (14:37)
- Rebuilding trust in financial services through consumer-centric approaches (23:11)