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The Invisible Heist: How Software Companies Are Quietly Stealing Your Commercial Relationships

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Manage episode 472404881 series 1309585
Content provided by Breaking Banks - The #1 Global Fintech Podcast. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Breaking Banks - The #1 Global Fintech Podcast or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

In This Episode

Banking executives, your business customers aren’t leaving you for another bank—they’re leaving banking altogether— at least partially. For now.

As a part of our “Unbreak the Bank” series we dissect the most significant existential threat to community financial institutions since the 2008 crisis: the systematic extraction of business banking services into everyday business software.

Community banks are hemorrhaging 12-18% of operational deposits annually to companies that don’t even consider themselves “banks”, and they’re moving upmarket.

The competitive battlefield has shifted, and “relationship banking” is not enough to compete. Customers are integrating business solutions into their daily workflow, and banks risks being shut out altogether.

Discover why the future isn’t about being the best business bank – it’s about being a relevant layer in the best business experience.

Fintech Takes founder Alex Johnson and Velocita founder Barb MacLean join host JP Nicols to reveal how embedded lending is systematically dismantling banking relationships as Quickbooks, Square, Toast, and others integrate financial services directly into business workflows, and explore some options for how banks can respond.

  continue reading

271 episodes

Artwork
iconShare
 
Manage episode 472404881 series 1309585
Content provided by Breaking Banks - The #1 Global Fintech Podcast. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Breaking Banks - The #1 Global Fintech Podcast or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

In This Episode

Banking executives, your business customers aren’t leaving you for another bank—they’re leaving banking altogether— at least partially. For now.

As a part of our “Unbreak the Bank” series we dissect the most significant existential threat to community financial institutions since the 2008 crisis: the systematic extraction of business banking services into everyday business software.

Community banks are hemorrhaging 12-18% of operational deposits annually to companies that don’t even consider themselves “banks”, and they’re moving upmarket.

The competitive battlefield has shifted, and “relationship banking” is not enough to compete. Customers are integrating business solutions into their daily workflow, and banks risks being shut out altogether.

Discover why the future isn’t about being the best business bank – it’s about being a relevant layer in the best business experience.

Fintech Takes founder Alex Johnson and Velocita founder Barb MacLean join host JP Nicols to reveal how embedded lending is systematically dismantling banking relationships as Quickbooks, Square, Toast, and others integrate financial services directly into business workflows, and explore some options for how banks can respond.

  continue reading

271 episodes

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