In this episode, Kathryn chats with Dan Westhues, Executive VP of Central Bank. They discuss Dan's career journey, the evolution of technology in banking, and how Central Bank leverages data for better customer experiences. They also explore Central Bank's marketing strategies, including the use of sports partnerships, the importance of personalization, and how primacy is everything.
Guest Quote:
“ Primacy for us is everything…Most people choose their credit card based on their affiliation with maybe it's their Marriott or their Southwest or their Hilton…Well, that's always been our bread and butter as a bank is that we want to be a full service bank. So that we can have all of those conversations with you. Because once we do that, we know because of the data that we have, we know that you're ready to start thinking about owning a home. We know that you're ready to start thinking about changing your credit card or buy a car whatever else it is that the bank can add value to help you with.”
Episode Breakdown:
[02:32] Alchemy Unveiled: Modern-day banking
Banking today is more than just where you deposit cash earned from your day job. Modern-day banking begins and ends with personalization options that extend both online and in-person at brick and mortar locations. Central Bank is focused on enhancing customer experiences to deepen customer relationships.
[14:28] From Nuggets to Campaign Gold: Build the technology yourself
Cultivating an in-house technology strategy is pure genius if you want to have a leg up on your competition. Not only does it offer your business extensive opportunities to get creative, it also allows you to provide constant updates to your apps and offer personalization options as quickly as you can deploy them, which increases customer loyalty and satisfaction over time.
[26:23] Gold Rush: Invest time and money now
Data is the lifeblood of any business. So if you take the time to build a solid data infrastructure up front, you will be much more suited to face future challenges and opportunities head on.
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