Lumin Digital Chief Commercial Officer Kelley Michalik recently joined the Fintech Hustle podcast for a wide-ranging conversation on the future of community banking, digital experience, and how credit unions and community banks can outpace larger competitors.
In a conversation that spanned everything from go-to-market innovation to personalization at scale, Michalik underscored how community financial institutions are meeting evolving consumer expectations and market demands.
Explore key themes and takeaways from the conversation:
On how community FIs are leveraging their strengths to compete with big banks:
“Community banks are gaining traction and starting to win the war… speed to market is one of the key differentiators, both from a reactive and a proactive perspective, so we can do things that are more community-based. We can enable and empower our financial institutions to react to things like [natural disasters] in a faster way.”
“When everything is changing and unpredictable all around us, our clients have a unique ability to respond faster and in a more personalized way to individuals that they serve, as well as to those segments. And we’re starting to see a lot of examples of that and how that’s building more and more trust.”
On the importance of ensuring integration, adaptability, and scalability for digital banking experiences:
“Humans are humans. Whether they are doing work for themselves, whether we’re a parent, a child helping our parents, or an entrepreneurial small business owner, we’re still the same person. So, we need the experiences to be easy, integrated, and adaptable because in all of those realms that I just mentioned, what’s happening today is going to be different than what’s happening tomorrow and next month. That’s one thing we know for sure.”
On Lumin’s approach to personalization and client experience:
“Storytelling and personalization… are the entryway into a good client experience [one that builds] lasting, trusted relationships. That carries into the sales process. It’s one continuum…we can break down barriers, [remove friction], and prioritize each prospect or client, approaching every interaction with empathy and intention.”
Listen to the full interview here.
