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Overcoming Core Challenges: How Credit Unions & Banks can innovate despite their Legacy Systems

Banking on Experience powered by BUSINESSNEXT

Release Date: 03/07/2024

The Real-Time Payments Fraud Dilemma: Why Faster Transactions Mean Bigger Risks show art The Real-Time Payments Fraud Dilemma: Why Faster Transactions Mean Bigger Risks

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Real-time payments are revolutionizing how money moves—faster, easier, and more seamless than ever. But with speed comes risk. Fraudsters aren’t just small-time scammers anymore; they’re running sophisticated, AI-powered crime rings that target credit unions and community banks in real time. So, how do financial institutions fight back? In this episode of Banking on Experience, host Joshua Barclay sits down with Jeff Scott, VP of Fraud Tech Solutions at Q2, a fraud prevention expert on the front lines of the fight against real-time financial crime.  Together, they reveal how credit...

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Banks and credit unions are sitting on a goldmine of data—so why aren’t they using it to drive real growth in their marketing motions? Too often, financial institutions collect massive amounts of customer insights but struggle to turn them into personalized marketing strategies that actually convert. The key isn’t just having data—it’s knowing how to use it. In this episode, we sit down with Phillip Bosley, Founder & CEO of Tactical Marketing Automation, to break down the roadblocks keeping banks and credit unions from leveraging their data effectively. We cover the following in...

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Did you know that nearly half of new accounts—44%—go inactive within the first year? That’s not just lost revenue—it’s a major threat to long-term growth for banks and credit unions. The culprit? A broken onboarding process.  Too many financial institutions skip relationship-building and jump straight into cross-selling, leaving members and customers disengaged and more likely to churn. So what’s going wrong—and how can banks and credit unions turn things around?  Our guest, Har Rai Khalsa, CEO & Cofounder of Swaystack, joins hosts Joshua Barclay and Andrew Piron to...

info_outline The 2025 Marketing Playbook for Banks & Credit Union show art The 2025 Marketing Playbook for Banks & Credit Union

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Marketing budgets are being slashed. Competition is fiercer than ever. Proving ROI? It’s an uphill battle. Are you ready to transform your marketing from a cost center into a growth engine? In this episode of Banking on Experience, we’re joined by James Robert Lay, CEO of the Digital Growth Institute and host of the Banking on Digital Growth podcast, boasting over 450 episodes of insider strategies. James reveals his proven playbook to help financial institutions unlock podcasting as a game-changing growth tool, defend their marketing budgets in tough times, and focus on the key areas that...

info_outline Do You Really Own Your Digital Transformation? show art Do You Really Own Your Digital Transformation?

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Digital transformation isn’t just a buzzword—it’s a survival strategy.  But here’s the catch: 70-80% of digital transformation projects fail.  Why? Because many credit unions and banks unknowingly rent their digital future from vendors, leaving them trapped by hidden fees, outdated systems, and lack of control. In this episode of Banking on Experience, we sit down with Dylan Shaver, Chief Revenue Officer at TreXis, to uncover the truth about digital transformation.  Dylan shares why owning your digital infrastructure is the only way to truly innovate and how TreXis is...

info_outline The Global Mission to Advance Credit Union Growth show art The Global Mission to Advance Credit Union Growth

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Credit unions are making waves not just locally, but globally!  The need for people helping people extends far beyond U.S. borders, and we’re about to take you on a journey that will expand your understanding of just how impactful this movement is. In the latest episode of Banking on Experience, we had the pleasure of speaking with Mike Reuter, CEO of the Worldwide Foundation for Credit Unions.  From supporting disaster recovery efforts to driving financial inclusion across the globe, Mike shares eye-opening stories and highlights how credit unions are helping communities...

info_outline How Small Credit Unions Can Find Their Competitive Advantages show art How Small Credit Unions Can Find Their Competitive Advantages

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Think small credit unions can't thrive in a post-pandemic economy? Think again. If you believe they can't be at the forefront of innovation, it's time to reconsider. In this episode, we're joined by Jed Meyer, CEO of St. Cloud Financial Credit Union, who is rewriting the playbook for small-to-midsize credit unions.  Jed is challenging the status quo, growing, and innovating at a rapid pace—all while making no excuses and staying laser-focused on the core mission of the credit union movement: serving members and making a meaningful impact on the community. Get ready to dive deep into the...

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Are you struggling with the complexities of getting crucial certifications and grants for your credit union?  We’re excited to welcome Shirley Senn, Chief Consulting Officer for CU Strategic Planning, a key figure in the credit union movement. With a passion for saving small credit unions and serving the underserved, Shirley has dedicated her career to helping financial institutions thrive. In this episode, Shirley shares her deep insights and expert advice on navigating the intricate world of certifications and grants. With a tremendous amount of change in the CDFI space over the last...

info_outline Tackling Healthcare Costs: CU Healthcare PayCard & VyStar Credit Union show art Tackling Healthcare Costs: CU Healthcare PayCard & VyStar Credit Union

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Healthcare costs are skyrocketing, and the pandemic has intensified both mental and physical health crises. Traditional healthcare plans often fall short, leaving many to endure high-interest loans or forgo essential treatments. In this crucial episode of Banking on Experience, we explore how innovative fintech solutions and credit union collaboration are stepping in to address these challenges. Join us as we interview Paul Clampitt, Principal at CU Healthcare PayCard, and Kris Carerra, SVP at VyStar Credit Union. They share insights into CU Healthcare PayCard, a groundbreaking approach...

info_outline Leveraging AI for Credit Union and Banking Growth: More Than ChatGPT show art Leveraging AI for Credit Union and Banking Growth: More Than ChatGPT

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Ever feel like AI is just a buzzword? This episode is where the rubber meets the road. We’re diving into how AI can elevate your bank or credit union by growing your member base and deepening your existing relationships. Get ready for a no-nonsense AI breakdown with real-world applications that could up-level your approach to growth. Our guest today is Mitch Rutledge, CEO and Co-Founder of Vertice AI. Mitch breaks down the essentials of new member acquisition and expanding share of wallet, providing a clear blueprint for leveraging AI to achieve these goals. This discussion isn’t just...

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Kyle Stutzman, CEO and Co-founder of Janusea, along with Masako Long, VP of Sales, share their expert insights and the visionary blueprint they’ve developed to revolutionize the financial technology landscape. This episode is more than just a discussion; it’s a deep dive into the specific challenges of integrating with legacy systems and how to navigate these with strategic finesse and innovative thinking.

Discover the tactical steps, from initial assessment to execution, and the crucial strategic partnerships that make integrating cutting-edge fintech solutions not just a possibility, but a streamlined process. Kyle and Masako illuminate the path towards transforming your institution into a more interconnected, efficient, and customer-centric entity.

This episode was a revelation. It answered the long-standing question of why connecting with legacy systems can feel as daunting as hacking into Area 51—and, more importantly, it showed that it doesn't have to be this way. 

This dialogue is a must-listen for any financial professional determined to move past the hurdles of legacy systems and steer their institution towards a future of technological empowerment and innovation.

Don't let legacy technology dictate your institution's future. Tune in to discover how to turn these challenges into opportunities for growth and technological renewal.