Fintech Transformers: Rise of Primacy with Dave DeFazio
In the ever-transforming battle for customers/members, fintechs seek to be the new rulers of the banking universe. And the tides have turned. From 2019 to 2022, digital banks have the largest growth rates of primary relationships. Now, for the first time ever, more consumers in the Gen Y and Gen Z age groups name a digital bank as their primary institution than all of the community banks and credit unions combined! Experience live demonstrations of the banking apps that are reimagining the definition of PFI as Primary Financial Interactions, instead of Primary Financial Institution, and changing consumer attitudes and banking behaviors.
What You’ll Learn
• Examine the evolution of AI powered chat bots, such as Erica from Bank of America, and how they are reducing complexity of the basic user experiences of mobile banking.
• How challenger banks like MoneyLion, use unique fintech features designed for low-income designated segments, including friendly subscription pricing strategies instead of the penalty-based fee structures that dominate traditional banking.
• What the intersection of retail and payments looks like from Amazon One, an innovative new merchant payment system from Amazon that uses a person’s palm to reinvent the shopping and payment experience.
• Why the secret to customer/member growth will lie in understanding the changing role of banking products in the financial lives of today’s consumers.
Dave DeFazio - Partner at StrategyCorps
Armed with a passion for banking strategy, StrategyCorps, partner Dave DeFazio has found great success and satisfaction in exploring the intersection of data, marketing, and technology. Dave’s extensive financial services experience and continuous research in the field help him ensure that each product and service meets the needs of today's financial institutions. At StrategyCorps, he leads and manages the company’s direct sales efforts while working directly with financial institutions to design, build, and implement a variety of checking solutions. He downloads banking apps for fun. On the weekend. And talks about them at dinner with his family. Across the industry, Dave is a highly sought-after speaker who has shared thought leadership on innovations in financial technology, retail banking, mobile banking, customer engagement, product and customer profitability, product design, bank marketing, and changing consumer behaviors in an increasingly mobile-centric world. Dave graduated from Ohio Wesleyan University with a B.A. in Economics and Mathematics.
