Delight is a deposit strategy
episode
One Vision Podcast — Fintech, Banking, and AI with Theodora Lau
37 min
1 speaker
8 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What does “delight is a deposit strategy” actually mean for banks?
Hello everyone. Welcome to a brand new episode of One Vision. This is Theo, your host for today's episode. Joining us in the studio today is Angela Scott. Most recently, you're the Growth Marketing Sales Enablement Product Manager at Science. And welcome to the show, Angela.
Thank you. Happy to be here. So happy to be here. I feel very fortunate that you and I have never actually exchanged actual words until last month. And now it's twice in two months and we've been internet friends for uh years, four years, I know, right?
We never met. I don't even know how that happened. We've crossed paths, but we never actually had time together. And next thing you know, we actually shared drinks. Yes. That was
amazing. That was amazing. And sunshine. And now micro.
Sunshine, microwave, backstory. For those of you who don't know, that's okay. We'll leave it as that. But it was so great to see you and it was great to catch you on stage. Um, so let's start off with what you said on stage last time. Um you said delight is a deposit strategy. And when you set that on stage, I I still remember I was sitting from like, wait, what? What did you say? Delight and it's a deposit strategy. So I wrote it down and I said, I need to ask you. So I want to ask you this now before I forget. What do you mean by delight as a deposit strategy?
Ooh, I it sounds kinda corny, right? I'll I'll volunteer that. But um I am I exp I think about experience all the time and I've got this like uh very I think acute sensitivity to how we experience things and what experience means both on a human level, like how we engage our multiple senses and experiences, but then if like thinking about it from an operational perspective or from like a corporate and banking perspective, how do we cultivate good experiences? That's really what everyone's after, right? And I think especially hungry for that given how technological everything is and people were trying to hold the balance of human digital, right? And like AI to supplement and empower people. But The more we evolve in that direction, and I think it's a good direction in many ways, I think the hungrier we're all gonna be for something that feels like something.
Um And differentiating through the type of experience that you offer is like specific to banks, I think a really a really key unlock. Um Right. I guess keys and locks go together. I gotta work on that one. Anyway, but it's it's uh it's a key that we hold to be able to unlock something. That's like how the I think the future of banking and and deposits are gonna go where people find it delightful to be. Delightful, and I think I would define that in a number of ways. Yes, appealing to the senses, but also appealing to the very real realities of trying to engage with the bank. And if that's on the consumer banking level individually, how do I Access an app and move money in. I've I've been with the same bank that I've had since I was like 18 because I happened to pick a very good one.
I won't name it, but it's Blue, we'll call it. Um, there's an octagon involved. It's a very geometric bank. No, there is uh that I've had my relationship with them for a really long time and I've worked at other bank I started my career there, which is largely why why I ended up with my my first really meaningful bank account and banking relationship with them. But as I've gone to other banks, I haven't moved my bank account. Um because you like them so much? I like them so much. I like them a lot. And it's it' not nothing has felt compelling enough for me to move somewhere else. And with one of the institutions that I've that I've worked at uh since then, I tr I did try. I was like, Yes, I'm all in, I'm gonna bank with this place 'cause I can't be the one to deliver and and and
like engineer experiences without knowing what they are at present, right? And I was in a sales seat at the time, so especially that I'm not gonna sell something to a customer if I don't know how they're gonna how they're gonna experience it.
How do core‑banking and app‑vendor constraints limit the banking experience?
Um But I was like, Oh, this app is not the same as what I'm used to.
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Chapters
8 chapters
1
What does “delight is a deposit strategy” actually mean for banks?
0:05–4:18
2
How do core‑banking and app‑vendor constraints limit the banking experience?
4:18–8:31
3
What micro‑delights did the neobank story reveal about winning deposits?
8:31–12:39
4
How did Angela’s personal banking journey shape her view on deposit strategy?
12:39–17:05
5
Why is financial inclusion and literacy crucial for a sustainable deposit base?
17:05–21:34
6
How can banks balance digital efficiency with a human‑focused touch?
21:34–26:48
7
What role does brand experience play in differentiating banks and attracting deposits?
26:48–32:23
8
What are the key takeaways for building a delightful, deposit‑driving banking ecosystem?
32:23–37:35
Speakers
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