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by James Robert Lay on February 9, 2021
Brief Summary of Episode #65
It’s not hard to see the financial industry has become stifled.
It’s a victim of its own success and the commoditization of its products.
And to fix it, we need to look outside the industry.
In today’s episode, I’m joined by Bryan Clagett, Chief Revenue Officer (CRO) at Moven, to talk about why financial brands would do well to look for inspiration from outside the market.
Back in the ‘80s, Bryan used to work closely with a few supermarket branches as the supermarket craze meant they were popping up left and right.
To handle the new mode of selling, the company he worked with needed workers who could deal with this new type of grocery store.
So, they recruited from a shoe store. They didn’t need experts on groceries, they needed experts on serving customers.
Finance is in a similar position — especially legacy banking.
If we want innovation and a brighter future for banking industry-wide, then maybe we need to turn to those who are innovating right now…
And not to the industry that so desperately needs to innovate.
Key Insights and Takeaways
- Why innovation has slowed in the financial industry
- How other industries may be the key to solving the problem
- What the future of finance — and fintech, in particular — looks like