Deluxe Exchange 2019, held February 4-6 in Miami, is a thought leadership summit that brings together leading industry experts and FI executives responsible for market growth and engagement. In the span of just two days, attendees will have access to exclusive, thought-provoking content, innovative solutions and dialogue that helps them navigate both their day-to-day priorities and their long-term transformation.
Consumer expectations are impacted by experiences in every industry. While you may not compete with Uber and Starbucks, their customer experience impacts expectations for your business. DX19 is focused on helping your institution stay on top of the latest digital trends so you can deliver the kind of experiences your customers expect.
Here are some of the topics we plan to address this year at DX19:
Mark Gibson, Capital Performance Group
Baby Boomers and the Silent Generation have been highly profitable mainstays that retail banks have been catering its products and services to for decades. While these older segments have had higher deposit and investment balances and have been very profitable, their balances and numbers are now diminishing. Many retail banks are seeing their deposits and fee income stagnate as a result.
To survive today, banks and credit unions must look aggressively toward different customer segments to rebuild their portfolios. Engaging with generations X and Y as well as “emerging prime” customers is imperative for current and future growth. However, it requires a total rethink of products, delivery and marketing to be successful. A new set of skills and capabilities as well as a more responsive culture are required to be successful in this unfamiliar environment.
Lily Harder, Mintel
Fintech startups are fundamentally altering how consumers interact with their financial services providers by delivering services faster and by factoring in an ever-growing volume and variety of data that personalizes each interaction. While overall consumer awareness of Fintech still has some catching up to do, the industry is also facing growing concerns around trust and security.
This session, based on Mintel’s primary research findings, will explore how consumers across all generations prefer to engage with their finances, where they seek advice and how interested they are in the latest products and services. Lily Harder, VP of Research at Mintel, will discuss how the digital evolution in financial services has taken us from transactions to interactions, and she will explore the impact of digital channels on the overall consumer banking experience.
Mary Beth Sullivan, Capital Performance Group
A decade of historically low interest rates, vanishing fee income, aggressive competitors and stubborn legacy costs have diminished the profitability of the retail business line. Demographic changes have created a new generation of consumers and small business owners that question the very relevancy of a bank. Still, for many banks, the retail franchise remains one of the most valuable parts of the institution. However, growth in retail banking today typically lags growth in other business lines. Transformational strategies that respond to changing profit dynamics, consumer preferences and competitive pressures are now needed to revitalize and grow the business.
In this session, we will review the current state of retail banking and the challenges that threaten long-term success in this business. We will consider how successful retail banks are now shifting to focus on those segments, products and markets where growth and profit opportunities exist — and retooling their businesses to compete more effectively. We will also discuss the brief list of priorities needed to build strong and sustainable retail banking businesses in today’s competitive environment.
Other session include the Future of Digital Lending, with Richard Whiddon of Meridian Link, and How Gamification and Personalization Drive Engagement and Real Business Results, with Shaina Resto and Todd Weiss, Deluxe Financial Services.
Intrigued? Find out more about how Deluxe Exchange 2019 can help your business reach new heights by visiting the DX19 website.