Banks don’t need to change what they do, says CCG Catalyst’s own Chief Relationship Officer, Pat Valentino, but they need to change how they do it.
The business of banking does not need to fundamentally shift, Valentino argues in this podcast, but the technology used to do it does. Fintech companies can help guide banks back to providing a superior customer experience.
Pat Valentino describes her background in banking as “long and colorful” and she certainly has done just about everything there is to do in the space. She has worked for small banks, giant banks, regulatory agencies, technology vendors, and now a consultancy.
In talking about the appeal of the user experience that defines so much of fintech, Valentino focuses on some of the earliest disruptors: alternative lenders. Fundamentally, she says banking needs to continue the work of looking at problems from the consumer point of view.
In short, banks need to go to “back to the basics with an eye to the future,” Valentino said.