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Banking on Digital Growth Podcast

Think Beyond the Present Moment or Get Stuck in the Past

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Brief Summary of Episode #21

Is your financial brand stuck in the present moment?

Too afraid of risk? Of loss?

If you don’t think strategically about your future…

You’ll get left in the past. 

In the latest By The Book episode, I explain how the natural risk-aversion of financial brands becomes a liability for the future. 

I get it… 

Financial brands are dealing with people’s money. 

And customers need to know their money is in good hands. 

But that risk is usually just a matter of perception. 

A perception informed by a past that is no longer relevant.

And often, this thinking paralyzes us into dealing with the problems of the present moment and not strategizing for those of the future. 

It’s like Blockbuster putting all their efforts into renting out a few more DVDs — completely oblivious to the Netflix monster lurking in the shadows.

The same digital disruption is already here for financial brands.

And even if consumer perceptions haven’t yet caught up to it, they will. 

Leaders have a choice:

Prepare for the digital future.

Or get left in the past. 

Key Insights and Takeaways

  • The natural risk-aversion of financial brands
  • Risk is just a matter of perception
  • Preparing for the digital future