This week’s Streamly Snapshot options an interview with Rob Thacher, Founder and CEO of BankShift, on the best way embedded banking helps group banks, credit score unions, and different monetary establishments supply extra companies to their clients and provoke new income streams.
On this interview, recorded at FinovateSpring 2025 in San Diego, Thacher talks in regards to the newest developments within the embedded banking area, present challenges and obstacles confronted by group banks and credit score unions, and the way applied sciences are rising to assist these establishments higher serve their clients and members whereas competing successfully towards their bigger rivals.
The brand new demographic, we name them the Gen Zers, 28 years outdated and under, they’re in a distinct area from the place monetary establishments are. Historically, with monetary establishment apps, you must go there and do all the pieces. However sadly, these giant monetary establishments and these neobanks are actually impeding these Gen Zers from desirous to take part with the monetary establishment any extra. Why? As a result of they don’t have a seamless interface; it’s not embedded the place they’re already at … They don’t seem to be within the monetary establishments which are $5 billion and under; they’re not in search of these apps.
The metrics present that you simply lose these of us after they come together with their member of the family to turn out to be part of a credit score union or group financial institution. And that’s the way you (get) these customers. And so, what’s occurring? They’re shedding them and so they’re not coming again.
Based in 2020 and headquartered in Portland, Oregon, BankShift provides an embedded banking loyalty platform that helps monetary establishments companion with trusted manufacturers as a way to unlock new sources of income and improve engagement with clients. BankShift supplies banking and loyalty companies by way of each direct embeds into brand-owned apps, portals, and digital ecosystems, in addition to by a standalone choice hosted by the monetary establishment and co-branded with the companion. BankShift made its Finovate debut at FinovateFall 2024 in New York and returned to the Finovate stage the next 12 months for FinovateSpring 2025 in San Diego.
Rob Thacher is Founder and CEO of BankShift. He’s a veteran expertise govt with 25 years of expertise, together with co-developing CreditWise and main modern fintech initiatives. Thacher thrives on constructing large-scale merchandise and platforms that remedy actual shopper challenges by way of cutting-edge expertise.
Picture by Tabitha Mort
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