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by James Robert Lay on March 7, 2022
Brief Summary of Episode #173
Contractual relationships should never inhibit growth.
But they do, quite frequently.
True partnerships can’t thrive in that restrictive environment.
Our guest is Jeffery Kendall, Chairman & CEO at Nymbus, and the author of a recent fascinating article — It’s Time for Core Vendors to Ditch Exclusivity Clauses.
Jeffery believes that companies should “win the hearts and minds of customers by performing well, doing great things, and making them love you.”
Harsh exclusivity contracts can only hinder organic growth for everyone involved.
How can financial brands begin to form more authentic relationships with their tech constituents?
Platforms fail at an alarming rate… and who wants to enter into a relationship with such a dismal possible outcome?
Jeffery wanted to take a whole new approach:
When we grow, you grow.
His team is much more invested in helping their partners be successful.
Choosing the right partner and a strong relationship depends on a mindset alignment.
“You feel it in your bones when you’re a good partner."
Somewhat ironically, digital banking needs to focus on human transformation over ones and zeros to achieve truly sustainable growth.
Key Insights and Takeaways
- The difference between partner and vendor
- The importance of holding yourself accountable
- Actionable advice for improving partnerships