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FinTECHTalents Virtual North America 2020
September 9, 2020, Online, USA
FinTECHTalents Virtual North America 2020
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FinTECHTalents Virtual North America 2020 - Debate - Where is the Heart(land) of Banking?
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About speakers

Josh Rowland
Chief Executive Officer and Vice Chairman at Lead Bank
Lisa Violet
Chief Auditor at Varo Finance
Huma Usmani
Virtual Banking | Fintech | Strategic Partnerships & Technology at LendingClub
Jesse Honigberg
Technology Chief Of Staff at Cross River
Bradley Leimer
Co-Founder at Unconventional Ventures

Lead Bank is a national, digital community bank serving FinTech companies, businesses, and consumers across the United States through digital banking services.

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I am an objective, open-minded and collaborative executive with extensive experience standing up and leading strategic Risk frameworks for complex and cutting-edge financial institutions. I’m adept at establishing, optimizing and centralizing key functions, including Internal Controls, Governance, Audit, Risk Assessments and Business Continuity. I develop effective company policies and procedures, translate strategies into actionable plans and skillfully execute. I also foster increased awareness of risk matters and compliance enterprise wide.

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Seasoned entrepreneurial leader with expertise in driving product innovation, building partnerships, and surpassing business objectives. Excel at increasing customer adoption and engagement, and heading projects that consistently exceed targets and serve as a blueprint for continued growth.

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My role at Cross River is to work with a global development and banking organization to build and deliver compelling technology and banking solutions that significantly enhance the operational efficiencies of leading fintech and middle market clients. Cross River has developed an amazing suite of products, ranging from a complete next-generation core-as-a-service to nearly every type of modern payment offering from wires, ACH, debit, push to card and RTP, all delivered real-time through a contemporary web services, API first framework.

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Bradley Leimer is Co-Founder of Unconventional Ventures, which connects founders to funders, provides mentorship to entrepreneurs, advisory to corporates, and broadens opportunities for diversity within the ecosystem. Anyone with great ideas should have a chance to succeed. As the former Head of Innovation and Fintech Strategy at Santander U.S., his team connected the bank to the fintech ecosystem and served as an observatory for the global organization for trends originating in the U.S. that have potential to expand and accelerate globally. He adds additional perspective leading marketing and technology teams and projects within the bank and credit union industry and from a decade driving database marketing and analytic programs.

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About the talk

The Lunch Time Debate – Where is the Heart(land) of Banking?

Many people in North America bank with small-ish, regional, community banks or credit unions. For the retail banking space – do we find true FinTech innovation in small packages?

Are smaller banks having more impact in driving fintech innovation?

Does scale matter? Are incumbents best placed to deliver on the promise of innovation?

Josh Rowland, CEO, Lead Bank

Lisa Violet, Chief Audit Officer, Varo Finance

Huma Usmani, Strategic Partnerships &Technology, Radius Bank

Jesse Honigberg, Technology Chief Of Staff, Cross River Bank

Bradley Leimer, Founder, Unconventional Ventures (moderator)

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Welcome to the lunchtime debate here at spintech talents virtual North America. I'm your host Bradley Lima closed down to unconventional Ventures were Creek yesterday to discuss what we're calling the Heartland a banking or we're just setting this up as a debate. I think what you'll key into each one of our panelists is that the banking model is not just continuing to evolve from the way we reacted to this pandemic, to the way we're thinking about the industry's future, but at the heart of everything we do is how we Define our communities

and how we remain focused on who, Technology comes and goes financial needs change over time. But at the very heart of financial services, this remains a very human and never the ways we can help her communities. Really matters solar panels today are among those that are indeed serving the needs of their respective communities and have the Heartland, a banking at their very core. I want to start this too babe. I haven't you all introduce yourselves and your institution and answer the following question, how does your financial institution,

Define the communities in which you serve. Let's start with you, tell us about radius bank and the way you think about community, 5 billion dollars in Boston, Massachusetts. Set the dictionary on the idea of committee. Level 3 and location. I'll look in the community by making us in a week. 5000 small businesses and over 75,000 people have. Josh. What about you? The story of Lead Bank is really a fascinating. One tells about, you know, your story and and how you guys Define community

there. That's terrific. I'm really happy to be here is a kind of a Genova Bank, essentially built on a 90 year, old Community tradition. I'm the CEO, my family acquired, this Bank in 2005 and it was a one location Community Bank and we began growing it. But but around the time of the financial crisis of 2009, we were really. We really had some big problem. And at that time we had to kind of confront an existential question is like, what are we, what are we

supposed to do? And fundamentally what we decided is, it did in order to exist, we would go back to First principles of community Banking, and we would say, What is at the heart of community Banking? And why is it relevant today? And how can we make sure that we are relevant fast forward to today? We Define our success as our mission, as to be at the heart of the success of our communities. And what essentially that reflect in our view is that any one of us any member of this panel, any member of this

audience, really exist within multiple communities, are they technology-savvy early, adopters some are seniors. You could be that and you could be a senior citizen and you could be lgbtqia, you could exist within multiple communities. And if that's true, the Community Bank exist to serve you in all of your identities to serve people held a identify themselves into to whom is point. Geography is pass a. It's a, if it doesn't really Define people in the same way, that maybe it, once did now that we have

the communication and, and the, the networks that we participate in. So that's how we Define community, that is on the basis of the multiple complimentary identities that any person has. And if they can, we find through technology and Innovation a solution that will deliver something meaningful to you, that will enable success in the way that you feel it for your community as you've defined it and we think that's the opportunity of Technology because it democratize is the it democratizing banking, it should open banking up to people particular people that

because of their Community identification, say as a purse, Color or a woman have been so marginalized and so discriminating by thank you. So that's kind of how we Define the heart of our community mission. Play. I love that idea that we all have found multiple communities that they were part of its, that's a great way to kind of. Look at it. Let's switch over to Lisa and varo money. So you just received your National Bank Charter and that's really exciting as you got so much opportunity in front of you, but you guys have done so much. So, tell us a little bit more about Barrow,

Chief auditor of our money for a, which is now, varo bank. And yes, we just a, it's August. First, got our adoption Tech consumer, the first to get a national Charter by The Regulators, really big moment for us, really big moment for United States in the financial services market. And what is our community who is solving for the founder, calling walls years ago. Saw that there was a bit contingent of people who weren't getting their needs nap mats by traditional Banks. And what he set out to do,

with the Advent of Technology was to set out on. To be America's first charted National digital Bank, you know, how would you find Community is no longer just your physical location. The location is on the cell phone to be on the computer. So our community are more or less those folks that have been unserved or nutria Banking. And also maybe that New Millennium who's agnostic and it's maybe about generation where they wanted to go, all digital from the outset, you know, our community may evolve over time and you're just as Josh just

described de Hora de novo back with a 90-year history, who must Bank also is redefining geography. Varo itself is supposed to redefining Banking and I would almost say it so much impact will make an impact in the market to really serve the undisturbed and then you to Banking. And also those I just wanted to show first but we are part of an ecosystem. So it's not An attitude of US versus them. We're really all in this together and varo bank is really here to redefine an offer Community. A folks that want to come here and

belonging to our mission and purpose. And we have this kind of larger kind of societal impact to be really want to come to the market with That's awesome. So let's, let's move on and then to, to Jessie. So, I've been following cross river bank for a long, long time. You built this amazing, text back to your clients but your community's little bit different to tell us about your history and what you guys are doing. So I was kind of an interesting bank and such for SCP chief of staff for that Technology Group and Bradley and, and the rest of the team behind you. Thanks for

having us in a really happy to to speak, especially to this topic. You know, crossover is really prided itself on making deep investments, in our technology stack, and then figuring out how we extend that stock out to dinner Partners who Define community, and their own terms. And so, for us, partner is a cute way of thinking about who we serve and how we extend our reach. And so, you know there is some very large fintechs that we provide the back end for it. And ultimately they help to find communities in their own context and in many ways, the way that people move money, the way that

they sing, About money. Is it constantly evolving? And you know the definition of community is I think that everyone has spoken to his really you know something that's very hard to to nail down especially in this day and age and we think it'll continue to become more diverse and our goal is to make sure that banking move seamlessly into those communities in allows people to Really think about how banking can before you come a form of an element and allow you to move seamlessly between the the people who you want to deal with him in a particular context and our platforms and

services are really designed to extend that reached directly to our our fintech partners. And also to large Enterprises who are starting to Define immunity in their own terms as well. So it's been a fantastic Journey, you know, I think, you know, I kind of mentioned the TPP as well but you know thanks to some of the reach that that we were able to do it in our stock and some of the Investments we've made, you know over to of just about 200,000 PPP loans and you know where the third largest PPP originator and turns the units in the country. And a lot of that was a result of these deep

Investments and working with in Tech partner is so those weren't all people coming to cross river that with people coming to Cabbage or going to bluevine are coming to into it and US building the back end and apis that allow them to fund and sir. Those customers, how many of whom were turned down by a larger bank. So we're excited about what the our past was and we're even more excited about what the future holds for communities. When we think about examples like and pee pee pee in, like, what all the different banks in context working together, really, really showed us was that

Community is is much more even within our industry and how we serve, who is Sir? I'm so let's shift gears a little bit and we'll talk about that scale. The largest National Banks in the US have garnered, more market, share over the last decade, you know, since the Great Recession, almost three-quarters of all loans over 80% of deposits. So how can we help smaller financial institutions in context compete? You know, just as more and more large non-financial technology companies from your Google and apple and Facebook and others are trying to get in payments

and credit. And what have you to do that. Let's, let's start with you. And let's talk about, you know, you talked about creating Amazon life experiences with your clients. How are you and ably your partners to be more innovative? Amazon life experience with knowledge. He's Taco. I hate crying for a business. Quadrant. And then, on top of that direction, text to provide banking services to be able to offer. What does a plural form? I were able to open and manage their account while still in the front end aligned. And

then, you know, they can also use our Constitution and our infrastructure. Text dr. And then the path that he not only providing direct, but also That's great in in Jessie along those lines, cross rivers doing sort of the same thing, but perhaps maybe a different approach to tell us a little bit about that. And if some of the success stories that you guys have had. Yeah, I mean, I think that the biggest and most interesting thing we think about banking as a service and and I think I give a lot of credit to Houma and and her team and we're using some great Partners like like mantle as

well for some of our experiences. But you know Frost banking in the service is really about how we take something that's really poorly defined right now cuz it means something different to everybody. You know, I just saw a press release. Another bank was getting in the making of the service and they were really just doing a very thorough doing been sponsorship, but it's okay, right? It's great because everyone is trying to talk about it and for us, what thinking, is a service means and how we think about in the context of community banking is, how do we take the stack that we built and

delivered? And it really has been consumed by fenetex. And how do we go down-market or up market across Market? And, and for us, that means supporting Our community banking brother and then and saying, can we take our products in our investments, and make it relevant in contextually aware and inaccessible for them. And so stuff that we've built for clients like coinbase where they're crossing a huge number of payments. Threw us under using our virtual ledgering system, in a lot of the very interesting things that we've done all of that stuff could in some ways be extended to Community

Banks. And especially, if you have the right, you skis, you can help them solve big problems in a very digestible, you know, kind of in a box way. And it's I think the most important thing and I think that's probably what many of the listeners he'll relate to is that we don't want to move at the speed it up. I asked we don't want to move at the speed of thought by server. Jack Henry they're all Partners. You know everybody has a little bit of them everywhere in the infrastructure, right? But you know the ideas can we take some of these Investments and you can we make Community Bank in

quick? Can we make it? You know scope down a problem and actually figure out how you found something and make a customer Delight it. And then how do we really make an approachable? And so we're thinking about banking as a service and specifically in the nature of how to extend it to community banking along those metrics and taking some of the Investments we've made to serve you. No kind of these very large fintech clients and and you know making it relevant to Community Banks. Yeah, I think speed is probably at the heart of banking right now. I never signed solutely

and your approach to be serviced. You talked about how are you competing in this market and how do you guys stay innovative? Well, it's a it's the daily question, you know? It's the daily question but we started really, with a very kind of, in some ways, a conservative mindset, which was to say credit risk is very dangerous and so what can we do to reduce our credit risk and diversifier are sources of income awake. The first thing we did is we began its really try to explore building the compliance in the system that would be necessary

for high-volume ACH and wire payment processors. And that was, that was seven years ago that we began that but that allowed us to start to think about the investment that what you would make in a back-end is, you know, the non-retail the non Branch, but the whole set of services that you need in terms of compliant, technology BSA and all the rest of it. So that then let us to see. Exploring what we are. What we are all talking about is kind of service to fintech innovators in terms of Dino, providing that banking that

access the banking system. And so, we've been developed relationships with a consumer credit Building Company out of Texas. That is generating very, very significant account volumes for people that have just essentially been put in a position where they don't have, because they don't have a banking relationship. They don't have a very good way to establish your credit score and that relationship then becomes one that we can, as we can think about the other kind of Bank appropriate. It is

Community Bank appropriate. Kinds of products. You know that people need to become more fully in control and more fully vested in their own inventor own well-being. So, And we've expanded our payments likewise to a to serving, as a payment processing serving payment processors in the Cannabis. You know, a lot of people that are dykes gets all alarm. The island and admittedly a reason to be alarmed about it, but we really feel like that that let you know it's all over. But the shouting basically, the decision is going to be married in the

processing. Those type of payment for businesses that have been in really that are excluded is part of what we can do and part of ways that we can innovate a couple of examples as we continue to think about ways that finding opportunities that it don't ordinarily. Come to a community bank in the Kansas City area. That's part of our our challenge is that we have to be a little bit more aggressive because we simply don't have the kind of access to Big technology. Tanner's, an end to the big two, big city, that's where we need to do to be resourceful

and find our own niche. And then when we, when we think about in a banking and thank you for all of the communities that we serve. Like you said, cannabis Banking, and other opportunities are going to present themselves to Community Banks in ways that before. So that's good to hear about. You're one of the most pre-eminent. So, as we switch back to you, we talk about gross. Since the beginning of this year, your account growth is up, 60%, your customers spend is up one and a half times over this. And you deposit

through three and a half times. In October of last year, you had a million customers and now you have over two million. So what are you guys do for an encore? How come to me to the institutions of emulate? A little bit of that. Success that you guys about, how do we do it on? Core has the power of the charter and the power of the text back and being relevant to what the consumer need. And we have seen a definite interest and demand for what we have to offer. And I think building a what Josh talked about. You know, what we are seeing is how people work is

different than Sea Isle pier in that there's a lot of gig economy where people have kind of short us prints of work contract. The so there's kind of a Swiss change of business model of that. People are very transient right now in the workforce and that type of Employee or contractor, has a different financial needs. Traditional credit products, looked at a job. You're 5 10, 20 years and the credit product. Exactly. It's not. Now it's more Pious, you go, more payments. So that the power bank is, you know, with this kind

of All Digital out that we we start for a big demand for justice, traditional Pima, the people PS they going to keep using venmo and Val and we kind of really saw that shift and brought Solutions so that that person can have that pee with me and bring it back into their, can you call home back? And what? Now that we have the charter, we are also going to be extending our product capabilities. We've already started and bringing traditional lending products, but letting products really suited to what that consumer needs. So there's kind of more microloans, more,

Michael cosima. Louis people may not necessarily. Need to buy a house and they rent they may watch shorter purchases before cuz you are good. So you know. Encore is really going to come from Richmond to build on that. Text back. And also continue to build on that Charter that Charter allows. This is well, provide landing and have leveraged at the traditional bag but it always has to come back to the customer and how could how could other community back to other banks on the call hair in the conference, kind of Emily? What we have done? I think on the panel here, we have some terrific

example of the breadth and diversity of how you can emulate this. So, you know, using lead back, you know, they have reinvented Community. Looking at Cross River has really partnered and bringing back at the service and then bring, this is a perfect example of bring it all together. I think all the folks on the call with additional bricks-and-mortar bank can revisit the banking platform and stay Is it is it is it leveraging partners? And they were talking about payment and credit products to deposit with what is around the corner.

Encore and what we could told you. It's always keep looking at what next we haven't touched on cryptocurrency and Bitcoin without coming. You know a lot of companies are saying if you're not thinking about cryptocurrency in three to five years, it'll be similar to early 90s saying, I don't know what that internet thing. I'm going to stick with my on Primus, but if you, if you did not end of it for the internet that you would have totally missed the nineties and into the New Millennium. And if you did not look at the mobile phone 2005, you would have missed the

movement of how everybody went to the cell phone. And so I'm putting a challenge back to all of us as well. Wait, we have a lot of innovative technology right now. We are really into what the consumer needs, both Legacy and fintech alike, but we also To have to look at what's around the corner, we serve covid-19. In this pandemic has been so impactful on this country and on the globe and on the industry of Bank in our customers and our client. So, let's talk about how many teams have been impacted either. How you been working remote, or how your customers have changed. The, let's talk about

what we've been experiencing because again, that's at the heart of what we do. It's not just change. The reaction is what is happening now. So Josh that start with you and you wrote this great post about Lee Banks reaction to covid pandemic and you started it out by quoting Shakespeare's Hamlet. He said the Readiness is all. So let's talk about Lee Bank in your community and your workers reaction, especially the part where you singled out, you know, how you're going to support the women, the organization because that's the part of the story that we don't talk. well, I

think this idea of a Readiness is is really speak to Lisa's last point about, you know what, what's around the corner and You know, I think the thing is what is historically I think the devil than and hamstrung our industry is a sense of complacency and entitlement about what people need from us and about our relevant. And so I think what covid kind of produces that me and makes me think about is we re mixing recalibrating the question of what is relevant. What is and what are we ready for? Because if You know,

if we don't acknowledge that our that we are implicated in a global ecosystem. And we we think that we are. We think that we're okay, we are okay here. We're not, okay. and, you know, misery is a hotspot So so then what are you do? Well if it if you translate that to banking, the question is we are not immune The position of a Community Bank in Kansas City. Missouri, is is challenged by the very growth and market share that you identified the beginning of this call Bradley. It's it's it's right there in front of us. So what does that

mean? I think it actually means for us that we have to over invest. In our preparedness, we have to do things at Banks didn't do before, which is really think in the way that that Jessie and and radius and whom are talking about and now you're over investing in our technology. We don't know what, we don't know necessarily what for, but we know that if we don't we're going to be doomed to irrelevance the incapacity. So, in that respect, I think you ask a question about, what are we doing for

saying to them? We are going to listen to your need and try to help you through it. because, I don't know what an individual Bank guys, honestly, about the fact that we have Stagnant, middle-class incomes in this country. We have no childcare infrastructure. I cannot provide childcare for my staff. We don't have enough money to do that. We just can't do it. When I leave a solution for that in our country adequate attention to childcare. So what does that mean? It means we've got to figure out and being good communication with our staff and what could we do? Is it a stipend? Is it

something else to enable you to feel a sense of security and calm as you try to do your work? And raise your family and that's it. There's no answer to that question. Except try to understand it. The first you need to get. We have to be successful for is the community of the people that are stakeholders in our, that is our success power bank. Yeah, I know. I just, I like that. You recognized the one that letter that in a women are shouldering the responsibility to overwhelming in more during the pandemic because of child care needs. And note that the

change in the weather today today is happening. So just come here, we need to be more more. We're like you said of what's happening to her own employees and how it's impacting our family life. So most of our people, most of our people are women. So is that if we know that the truth with women are shouldering the second and third shift in their household. Then we have to be a lot more proactive with over-invest. And that changes, that changes. A lot of things, it changes kind of what our returns are going to look like, but but we know that we

don't, We're going to be behind if we don't because we have to be ready for the next thing and it's not like it's not like there's going to be another Global pandemic. We know that for sure, right, whether this disease or another We have to be ready. I think I think that one of the biggest challenges right in and that Josh highlighted and and you know, I'm probably the only exception and you know, crossover is partially reopened. Then I'm in the office today. Is that context is everything. And I think that what's what,

what we've learned through the pandemic. And, you know, if we continue to grow and evolve is an organization, is that we need to understand and be aware that what work is, is defined as much by the the employer by the colleague as it is, by the employer. Write, you know, giving someone work and saying, I need it. By X means that you need to buy Axe and let them find their way there, as opposed, to being prescriptive, which is almost impossible. Understand a trade-in covid, made it even more complex. So, I think that for us, it's very

much about. We hire the right people. We give them the right level of agency. We provide sufficient structure, they understand what the boundaries are, but we Empower them to get things done and we Empower them to think about what's the best way to do things and how do they have the contacts? Their decisions. So as you know Community Banks think about what you know that the new world looks like and how they get the most out of their employees. And and certainly, I agree with Josh that, you know, that Are female employees of shouldered, huge burden on

balancing. You know, everything that goes along with their job, plus the light, your family life and in my wife is among the big, you know. I don't know where I would be without her butt. we need to also think about how we Empower people to really be the Agent of Change within our organization and not be so prescriptive with, with how we're going to get from A, to B that covid has taught us that we can plan for the implant and we need to really Empower our people to Really on the journey as much as we work with them, to understand the destination. And I think that's really what

we think about across the river. And in the change that this is really accelerated. So, so jumping off in that point then and taking care of people, instead of new ways during this pandemic, at least, let's go back to you a little bit. I mean, your ear Starts. Now, like a large National Bank. If it's huge customer base that you have to take care of and you're to the reintroducing, this idea what a big bank and be early on, in this pandemic, you help customers get early access to government stimulus funds, which I find fascinating. You also partnered with studying to help the unemployed

find additional work. So, what it would have you guys learned since March, and, and how are your users, your customers using the bank differently. Brad, what we plan should borrow with the Advent of covid-19 was just how relevant our bank is and what we had set out to do, if he's almost a cream at the moment, we didn't plan for covid-19 stats, borrow provided a solution. The same way, couple of the Baxter on this call pivoted and allowed to the small business if we alter pivoted and were there to

help these folks get their stimulus payment and we partnered at a level of scale to real because all these people didn't even have a bank account, right? That's how it was administered, the our technology and our business nimbleness meet us able to respond and anticipated, even what we were going to do and be twisted up some additional product to really help with kind of, you know, short-term shortage and cash flow. There's another thing that happened this year. Get the message that the purpose of a corporation is really changing from purely

return on investment as a shareholder to this concept of stakeholder of which the employees are also a stakeholder. And also that the customer and no I think what came out the back, the pandemic would shoot, a lot of people lost work. People could not work in particularly in Industries where in the hospital to where you have to be with people. All the people in positive right away and we collectively, everybody hear this call was there to help you spoke to Mom. We are now there any bar, we did it in a big way, but what follows it ended me into June

with something horrific. I mean, we had had, you know, a lot of understanding that we know there was just in the middle class in the United States, no more The Haves and have-nots, but the racial unrest that came to lay there and still continues right now. Ulta telling us something out in that movie looking at Banks and the purpose of a corporation. We have to be relevant to serve everybody and it's almost our kind of hyper personalization of your backing product because Financial Wellness is part of our Wellness pull together. And I think what we're witnessing

here in United States right now is the need for more novel and needed solution. So that everybody has a piece of the American dream and that American Dream for some may not be a mortgage. A 30-year mortgage that American dream, could be a partner where they can have payments that they can do, and they can have micro loan for somebody else. There is a small business, you know, a lot of the American economy is built on small and medium Enterprises the big Banks. You know, you talked really around the outside up their huge market share but think about that big wheel in the

ocean. Is it feeds everything that's down beneath. That's where is the Plankton of our economy. Where is the plankton in banking? And this is where, where companies like to borrow our purpose is. It's very intentional about the undisturbed and you to banking, I also those that just wants to have a digital banking, alternative hits only one but that's who were serving. We are also seeing that he just pointed it out. We always have to be ready for the unexpected. So in terms of our own company, we have a text back or

fully digital, but that doesn't mean that were we we have thought it all out. We have to continually do scenario, planning and crisis management. And sometimes a crisis that she was up at your door, is not an earthquake is not a pain dammit, but it supposed to stay until outrage on Injustice. I mean, who would have thought You know, for myself, I'm the chief auditor of borrow, you know, I'm there to really help protect that Charter than the other controls and his practices and please so that we are safe and sound but a voice email that I didn't even know I had. And it was one talkin to

diversity and inclusion, and I think you've been here to fintech companies are doing that in an awful way. When we talked about diversity inclusion, and emerging class of a banking sector, we really talking about the platform, the product and the people and you know there's this 2020 has been a still bring year but it's also up for us a year of affirmation and also this energy if we can't wait to continue being part of the conversation. And what I, what I'm calling Cobra calling being more of an impact do Financial

Services player. I think the one thing that we have seen in this conversation is that we can react regardless of the size of a douching. When the institution itself, takes that upon themselves to really understand what's happening with the customers, thank you for that. You know, let's go back to that area is too much happening. During the pandemic, increase the risk of getting information into your applications and that that New Year's day that we have seen from MX. Another aggregators that the people really right now,

they need our help. They need our help to understand their financial condition. So it's so, how has really has changed since the world has changed and turned upside down in March? On our end of covid-19. I'm also on the debit card, or debit card. Are there if I'm to save more and they also kind of feeling down to the station to see what they can. Add additional categories as well as understand. We haven't seen. Kmart. That's great sex with Jessie early. You were talking about how you guys are very open to your office, a bit, and I don't see mass and anything like

that. So, so it is the other side of the world, like, okay. Now, you know, if you're in San Francisco, it's that it's so. So what you don't say, so I can probably look around. This is as about that, the density that we have right now. So you know, we have pretty pretty strict rules that, you know, you're allowed to, you know, be at your desk, with your mask off and then, you know, the second you leave your desk, you need to have a mask on and you accept temperature, check before you show up in the office, you have to sign in. If you've

traveled out of state, you know, we try to follow up the best practices from the the CDC. And then from the New York, New York state is on a really good job and getting in front of getting in front of the, the virus. Since we had the outbreak in New Jersey is, is following closest closely witches, we're on base right now. But, you know, I think it speaks to the fact that, you know, it's some point life goes on and we're going to meet to figure out how we exist and support. Our community is how we exist and support our colleagues. How we exist in support our families in, in whatever this new

context is send, you know, one of the things that's an incredible and and I think that is really important, is all of the Community Banks have really stepped up and figured out how to serve their customers given these extraordinary circumstances. And, you know, as much as you know, there is the resumes and the, you know, all the other tools that we have in order to enable interactions, the bottom line is, it's figured out. We move all the Community Banks had to figure out how to humanize this whole situation and you still have people who have difficult times, right? You're trying to

roll out digital tools to help them, but you also need to be able to be aware of what the problem is and how you can be a human on the other end of the line that it helps Other Financial you, no problems challenges opportunities and you know thing that we're proud of is that we continue to do that. And I think the thing that everybody on this call should be proud of is that it would have been a lot easier for us to step back and said it's a difficult situation. You know we can't do it instead. I think that everybody on this Hall as well as you know the vast majority Community Banks in the

US have really stepped into the void and figure out a way to continue to serve their communities, wherever they sit, wherever they are, and whatever form they take and will continue right Josh's, right? This is it going to be the last time that we have, you know, some type of extraordinary situation that we need to, we need to manage through the hope is that you know, can the text that you know, crossover brings to the table. Can you experience? Is that a viral bring to the table? You know, the stuff that lead is doing stuff, that that was leading a charge with, you know, how can

we make that less of an island? And and more approachable and and intangible to, you know, the smaller Community Banks out there and there's a path forward. And I think that this pandemic has been horrible. But it's allowed us to really think about growth in a whole new way and allowed us to understand that people can rise to almost any occasion is a lot of people in your training and are committed to be back across the heartland of America. And, you know, I think what we're sharing on this panel in there.

There's something for everybody to All Digital, they all bricks-and-mortar and something in between, and there are solutions coming out there either backing us a service. Some of the platform players allowed, a channel to acquire loans where if your footprint is limited to two or three branches, there still an Avenue, to broker a loan to pay must because the demographics, the population people are changing the way they were. And this is not a case of one segment of the financial services banking sector. You think I'm making another one, irrelevant. Or

pushing it out there. There is a need for every type of institution, but but one thing that's common though, is that we would got to embrace technology has shown us. That that is so offering is tantamount to being around tomorrow. But there's also the human factor and there's no magic in. You have to stay connected with a customer. Weather. Customer is virtual or physically coming into the branch. And for us to borrow, it's it's part of part of the magic is, how do we Delight customers when they come into the

platform? And also respecting that the customers may have more than one choice of a financial provider. And there's there's a box for all of us. Absolutely, you know, I I love how all of your bangs are able to serve your communities and especially during this pandemic and I'm really grateful for each of your efforts. And you know I worked in a credit union serving people know Clint I work at a Regional Bank here in California to San Francisco and I work for global bank that had its us office is based in Boston and each one of them really Define the community differently. And I

think all of us are really changing based on this pandemic but also changing because the business model changing. So let's talk about to wrap up with this class they're customers and other financial institutions that may not have the resources that fellow has, have you demonstrated some examples? So far has a lot of lot of community institutions on this webinar. And this conference, I were having and They all had the communities and heart but they all have the same kind of challenges that we do so. So dusty. Let's, let's get back to you.

Again, you two talked a little bit about how you could do this or smaller financial institutions, in addition to Integris thinking about doing it, support the model. So I think that for us, it's about thinking about how you can take change, and instead of saying, you know, you need to think about becoming fully digital in 24 months and changing entire business model. That the change is something that happens incrementally if done, right? And so how do you think about starting really small and changing something digitizing a process with that means working with someone like crb

to figure out how you can automate AC gauges or wires or, you know, all types of payments which is fine. But, you know, Or just certain bracing, something like RPA, like revive process Automation and thinking about how you can make yourself more scalable. So I think very much the idea of how you Embrace technology, how you become continue the relevant, and how you leverage technology has asked. Lisa said, Is is by making it part of your DNA and making it part of the way that you think about an enabling your business processes, how you think about a needle in your customer experiences?

That technology is not a destination? It's part of the journey and as you continue to become relevant, as you continue to think about what your customers want and need from their financial interactions. Think about how you Scope that down and applied technology to it in bite-sized chunks, right? You know, the biggest advice, I give to every Community Bank, or I talk to is that make small investment that are foundational, as opposed to listening to some Consulting come in or, you know, some, some core provider coming into telling you you by exid. All your problems. I guarantee you.

Anyone telling you that is Lying to you, that the real way that you enable change the real way, that you support their make technology part of your platform is to make me part of your DNA, and that doesn't happen quickly, right? It's about Evolution versus Revolution and how you really get your people to think Tech first process first. And then, you know, you kind of make small Investments and by the time, you know, where you transformed yourself. Absolutely, I love that. What about you Josh? You've got three physical branches at Lead Bank on, you know, which wich,

it's the moment. How are you? What's your advice for Chris Mueller? Financial institutions? How do you go forward and how do you help that? But I also want to be really brutally honest. I don't think that anyone can any Community diaper. Can stay in their bubble. And assume that they have any relevant without technology. the fact is that our customers wherever they are, Are enjoying Netflix. Or Tik-Tok. Or Facebook. They are buying technology. They are seeing what technology offers them and is offering them real value. And to imagine that there

is an alternative to what Jesse said which is incremental bite-size, taking these foundational steps. Is is delusional. Now what do you do? How do you do that? I think the point is to really look at what is important to your customers. This is just as we're all talking about. What is it? You know, what do people that are new to banking need, they did change the way that they pay. They changed the way that they pay their money. So, Community Bank, or are you, are you supporting? Is out, do you promoted and use? They'll do you promote and

how do you serve other payment tools that your customers want to make? Because they are paying with venmo today? And if you're not paying attention to the fact that your customers are using a PayPal app, To pay money when they used to use your cash and your checks. Then you're kidding yourself. Your own staff is using venmo. And your staff is using venmo. What message is that sending? To you. What what indication is that to you? So I I feel that it is possible is just a thing that they're incremental, things that you can do to begin

to reboot your mindset around. What is possible for you as a community bank. But it definitely means that you have a digital Branch, whether, you know, it or not, you have a digital branch and it's time to embrace it and acknowledge it as a digital Branch. Good people, don't come into the branch anymore, but instead of bemoaning, that fact acknowledged that it's a string. Joshua, just to answer that. I think that your point is, you know, her kind of that the Italian point that I think I take away from what you're saying, right? Is that it starts at the top, right?

And so that if your leadership and you was your bank's leadership, don't believe that this is the future, then your your people never will. And so you really need to think about how you create those visible artifacts of the world that is changing. And, you know, the digital branch is a great one and even if, you know, you make something up in collateral Branch, that's great because no one really knows what I did with branches. Anyway, right. So the bottom line is right, you know, think about what you do today, that gets the ball moving, right? That sends a

visible message to your people because if you don't do it then they never will. An engine other than they are already doing it. They connected their own behaviors or your own behaviors to our institutions tour companies. And if you can make that connection then you then you're then you're part of the way there. But acknowledging a long time ago, Lisa you you got more than two million customers which is a dream for eating a Regional Bank sometimes how do you say, you know what, you guys have done and what you will do with that, half a billion dollars of venture funding that you guys have for

growth. What's what's next for you guys? I think what's next is to keep the mission and the purpose of why we're here for borrow do to sight of that customer. We're going to continue building on our capabilities and product offering and creating Community. Know, we want people to come to the bar platform and belong and I think we also want to be a leader. We are a leader in the system. You know, we went when everybody else wins as well, because you're a collector. And I think, you know, for the D-backs on the call, the credit union that are you know a couple

branches for a regional player. I think you know go digital embrace it if you thinking about it, you know, if you were thinking about the mobile phone, if you're not thinking today about payments and teacher Technologies, then, you know, also think we have to be prepared for. It's almost like an altered reality physic. Call vs. Rich law, but I want to end with have more carpets just like this. You know, we learn by looking at others, we learn by getting introduction in a reach out to us on this panel or after he puts on a terrific conference. A lot of thought leadership come into their Forum,

hop discussion, learn and I think that's how we are the other folks can advance everybody together and no. Lastly, that you don't have to build it from scratch. The technology and partners that are out there and Mabel you to Pivot for us all to tell it our business to the needs of the consumer. The needs of the market place an FTP for having this conference, I think it's a great discussion and let's continue with the conversation. I'm selling a wrapping up again, how do you say radius bank? Then is being part of this

evolution of the business model, what's next for you guys? And what's next for the industry? Yeah, I think a couple of people talk about technology and how important that is to act as an alternative solution in order to provide a ride. It's important to talk about. So on our end, Then I'll touch my bass. How to get back for customers. We also have a product. And and everything, too. Small to medium business. While addressing specific needs of the larger community. And so, this is Christmas.

That's fantastic. Superhero products in superhero, methods and superhero, futures. For all of us is what I'm hoping today is the story of for financial institutions of very different shapes and sizes. Very different business models in very different ways, we're helping customers in their class but what unites us is serving those needs. What unites us is serving them the way that the best know-how and that's fine, being very close to the customers and I keeping the customers and their clients at the heart of everything that they do. So

I want to thank Uma and Josh and Lisa and Jesse for joining us in sharing your views today. And I want to thank all of you for joining us in this debate. You still have a little bit of time, left to, maybe go stretch, your legs and have a sandwich or whatever else you're eating. It would be like a cup of coffee. I have to go, go do that and come back to the main stage at 1:10 p.m. for lively discussions. We're going to have on social media and financial services. Be well, everybody have a good day. Thank you.

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