Podcasts

Building financial communities with Vanessa DiMauro

  • More financial firms are building communities to deepen customer relationships.
  • Communities can provide tangible benefits to banks, investment firms, and financial media companies.
close

Email a Friend

Today’s financial firms aren’t your father’s financial firms.

Vanessa DiMauro is the CEO of Leader Networks, a research and consulting company that helps companies create and grow online communities. In a world of increasingly commoditized financial services, financial communities give their sponsors a whole new level of competitive differentiation. Consumers are demanding more from their financial relationships and financial communities are a way to deepen those relationships, bringing the digital experience back to a human one. She recently published her research on the keys to community readiness and growth.

Vanessa and I discuss why financial firms are building and maintaining communities and the challenges in doing so. She provides us some very interesting insight into the ingredients necessary to build a successful community and her view on future trends in community building.

Subscribe: iTunes I SoundCloud

Below are highlights, edited for clarity, from the episode.

Why financial firms are building communities

Recently, financial firms have perked up and began thinking more critically about building financial communities. That’s because of the critical differentiator these communities can provide by making the relationship with the firms’ customers more intimate. New regulation has made this more accessible and new rules have opened the door for financial firms to provide proactive thought leadership and disclosure in the context of communities.

Who within financial firms is responsible for the communities?

Most frequently, the remit and budget for a community typically fall under the CMO or chief digital officer. The most successful communities have a key stakeholder group because they have impact on R&D, products and services, IT, and very importantly, on customer care. They all need skin in the game because a community that’s designed to just be a marketing or amplification channel aren’t that successful.  Customers come for content and stay for each other.

Where are financial communities headed?

There’s a lot of untapped opportunity for financial services firms to use communities, technology, and the evolving customer relationship to experiment with customer loyalty. To blend automation and a human face. Roboadvisors are a good example of the combination of collaboration and automation. Imagine banking apps that give customers access to the community straight from the apps, to give a full user experience that blends collaboration and content.

0 comments on “Building financial communities with Vanessa DiMauro”

Podcasts

‘It’s all about embedding financial solutions at a customer’s point of need’: Plaid and Accenture on the future of embedded finance

  • Embedded finance is enabling new players from outside of finance to offer financing products.
  • Plaid and Accenture have released research on embedded finance, its roots and history, and where it's headed.
Zachary Miller | July 23, 2021
Podcasts

‘My mandate is to find great partners that can reach millions of consumers’: Green Dot’s Amit Parikh

  • Hailing from Apple and Discover, Amit Parikh recently joined Green Dot to run its banking as a service platform.
  • The executive joins the Tearsheet Podcast to discuss opportunities in platform banking and how to service top brands' financial offerings.
Zachary Miller | July 14, 2021
Podcasts

‘A real underdog mentality permeates this place’: Chase’s chief product officer, Allison Beer

  • With 56 million users, Chase is an at-scale digital bank.
  • Chief Product Officer Allison Beer joins us on the podcast to discuss UX design, payments trends, and the bank's product pipeline.
Zachary Miller | July 12, 2021
Podcasts

‘Solving corporate payments is about context, not about who pays’: Mesh Payments’ Oded Zehavi

  • Mesh Payments uses a foothold in SaaS payments to help corporates with their spend.
  • CEO Oded Zehavi joins the Tearsheet Podcast to discuss the genesis of the firm and why the market for corporate payments is so interesting.
Zachary Miller | July 08, 2021
Podcasts

‘Sitting in the back of an Uber, we understood drivers have a pain point’: Payfare’s Marco Margiotta

  • Gig workers increasingly want access to the wages as they earn them.
  • Payfare works with firms like Uber and DoorDash to help their workers get paid more frequently.
Zachary Miller | June 28, 2021
More Articles