Tune into our latest episode of Accelerated, a podcast dedicated to giving a behind-the-scenes look at how fintech-banking deals are made and why they’re essential to the overall industry.
This week, Heather Sugg and Wayne Miller are joined by Seattle Bank’s Jayson Callies and Agora’s Arcady Lapiro to discuss the bank’s digital transformation for their high net worth, ultra tech-savvy clients and board, and their overall partnership strategy.
Seattle Bank, a 77-year-old bank with a single location in a downtown high-rise, first saw the benefits of technology when they started their PPP program. Notably, 95% of the people they provided PPP loans to were new to Seattle Bank, with a majority coming from megabanks. This quick win showed the bank how fast they could adopt technology that ultimately improved their customer experience.
Listen in to learn how Seattle Bank and Agora work together to address niche banking and how to manage brands, markets and high-demand products with the right tech stack. “This was not the bank pushing it down, it was the clients pushing it up,” Jason noted about the desire for digital innovation.
This month’s episode dives into understanding where people are putting their money and how bankers can provide modern-day essential services to grow customer loyalty. Notably, the two believe that early-stage fintechs who say they can do 20 plus things are a red flag. Financial institutions need to understand specific problems and find the best solutions before entering a partnership.
A focus on open banking and personalized solutions were constant themes throughout the conversation. Arcady mentioned a recent article from Ron Shevlin in Forbes about how big banks are losing their grip on younger generations due to the increasing amount of digital and innovative fintech solutions