The Intersection of Financial Institutions and Technology Leaders

An Outward In Approach to Banking

By lauraschield


In this episode of Reinventing Banking, a special podcast series brought to you by Bank Director and Microsoft Corp, Bank Director’s COO Laura Schield interviews Rich Kiel, the Managing Director and Head of North American Enterprise Sales at Backbase to hear how their Engagement Banking Platform can help banks craft the seamless user journeys that customers expect – and frankly demand.

Rich says that the focus of a traditional bank is inward out – that is, the bank focuses on the products it has to sell and then applies those to its customer base. However, this next generation of customers requires a new approach – outward in and putting the focus squarely on the customer. Technologies in other industries are similarly customer centric. For example, Netflix provides a curated list based on your viewing history, Spotify pulls together a suggested music list based on your favorite songs and styles, and Amazon does the same with consumer products. This curated, hyper-personalized approach can also happen in banking.

In this episode, Rich shares his experiences and insights on how he and the Backbase team are reinventing banking by re-architecting banking around a bank’s customers.

This episode, and all past episodes of Reinventing Banking, are available on, Spotify and Apple Music.

Laura Schield is the Chief Operating Officer of Bank Director and FinXTech, and has served in numerous roles with the company since her start in 2010. Her primary focus is overseeing the day-to-day operational functions of the company.