Key Findings from the Financial Brand Forum 2024

Keynote speakers from the Financial Brand forum 2024 in Las Vegas

Key Findings from the Financial Brand Forum 2024: How to Connect with your Customers and Differentiate Yourself from Competitors

At the Financial Brand Forum 2024 in Las Vegas, speakers took the stage to discuss the biggest challenges, innovations, and trends occurring in the financial industry. Take a look at the latest findings and advice from the forum’s speakers including, Scott Galloway, Reggie Fils-Aimè, Mike Walsh, and Eric Fulwiler.

Disruption rules with Reggie Fils-Aimè: Mantras to become a disrupter 

Reggie Fils-Aimè highlighted the transformative journey of Nintendo as he outlines the key principles of disruption. He highlighted how the gaming company was able to foster a mindset of continuous innovation, leveraging core strengths, and delivering relevant changes to their products in order to become a leader in the space. 

Fils-Aimè’s rules to becoming a disruptor in the financial industry:

  • Disruptive innovation is a culture, a mindset, and consistent work
  • Disrupt “inside-out” from your core strengths
  • Disrupt with unexpected relevance
  • Disruptors must over-communicate
  • Disruptors truly understand their markets
  • Disruptors fail, learn to fail forward
  • Disruptive innovation is a leadership function

Disrupters must over-communicate, deeply understand their customers, and view failure as part of the process. The process of “disruptive innovation” hinges on strong leadership, as an organization must consistently evolve through meaningful change and maintain their course (even through failure).

Futurist Mike Walsh Explains how AI-Powered organizations will differentiate in 5 ways

Futurist Mike Walsh Explains how AI-Powered organizations will differentiate in 5 ways:

  1. Scale: AI-powered organizations can handle large amounts of data and operations efficiently, enabling them to scale rapidly.
  2. Speed: Leveraging AI allows companies to accelerate decision-making processes and analyze both internal and external data faster. 
  3. Sustainability: AI helps organizations become more efficient, promoting long-term sustainable growth, while identifying pain points.
  4. Security: Implementing AI enhances security measures by identifying and mitigating threats faster for financial institutions by anticipating rather than reacting. 
  5. Scope: AI enables organizations to broaden their reach and capabilities, offering a wider range of services and solutions to meet the changing needs of their customers. 

10 Commandments to Achieve Differentiation:

  1. Work backward from the future
  2. Aim for 10x not 10%
  3. Think computationally
  4. Embrace uncertainty
  5. Make culture your operating system
  6. Don’t work, design work
  7. Automate and elevate
  8. If the answer is X, ask Y
  9. When in doubt, ask a human
  10. Solve for purpose, not just profit
Speakers from the Financial Brand Forum discussing financial services marketing

Eric Fulwiler: What are differences between challengers & incumbents in financial services marketing?

In speaking with 120+ CMOs of companies from Shell to VISA, Eric shares what sets challenges and incumbents apart when it comes to financial services marketing:

  1. Have a framework of innovation
  2. Relentlessly focus on the customer
  3. Move fast on things that matter 
  4. Seek out new/different perspectives
  5. Be creatively brave
  6. Do the work around the work
  7. Differentiation is everything
  8. Double down on data
  9. Stay on top of your craft
  10. Keep learning

Key takeaways in digital marketing for financial services:

  1. Digital marketing for financial services requires a heavy focus on customer / member experience
  2. Delivering relevant, timely content is key to building trust and loyalty
  3. FI’s need to support their customers and members through their big life moments
  4. Personalized content is table stakes, not a call for celebration
  5. Failing to personalize, engage and automate is costing FI’s millions

In Summary – Financial Institutions (FI’s) must view disruption as a positive and leverage AI to enhance their customer experience. By following the key tips and strategies above, FI’s can foster a culture of innovation, understand market needs, and grow their share of wallet. By leveraging data-powered AI, FI’s can now modernize and scale a competitive roadmap to deliver exceptional customer experiences. 

Flybits team at Top Golf with Q2 customers at the financial brand forum in Las Vegas

The Flybits team hosting Financial Brand Forum attendees at the Top Golf venue in Las Vegas. Please reach out to our team if you’d like to attend future events like this. 

Flybits booth activation showcasing VR customer experience at the financial brand conference

Flybits booth activation showcasing VR customer experiences at the Financial Brand Forum 2024. 

About Flybits:

Flybits revolutionizes how financial institutions deliver personalization. Utilizing our award-winning framework, we simplify the connection between financial institutions, their data, and their customers. Our platform expedites the delivery of critical use cases with minimal IT intervention. Empowering the digital teams to regain control and seamlessly deliver data-led insights across all channels.

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