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

Behind Marqeta’s launch into credit card issuance with Kevin Doerr

  • Marqeta has grown up as a modern debit card issuer processor for firms like DoorDash and Instacart.
  • Now, the company is moving into the credit space.
Zachary Miller | February 22, 2021
Payments, Podcasts

‘Tech is global but local payments determine who’s a winner or loser’: PPRO’s Simon Black

  • PPRO is freshly off a $180 million investment round.
  • The local payments firm's CEO joins us on the Tearsheet Podcast.
Zachary Miller | February 15, 2021
Podcasts

‘Workflow’s calling is to rejoin the fragmented parts of an FI’: ServiceNow’s Lauren Robbins

  • ServiceNow works with hundreds of financial services firms to create digital workflows in IT.
  • During the pandemic, the software company has seen more clients improve HR and customer service experiences, as well.
Zachary Miller | February 12, 2021
Podcasts

‘We knew banking apps are the least deleted on people’s phones’: Sensibill’s Corey Gross

  • Understanding spending data is still a hard nut to crack.
  • Sensibill provides tools to users and their banks to feed decision making and advice.
Zachary Miller | February 11, 2021
Podcasts

Behind the launch of Craft Bank, the first de novo in Atlanta in over a decade

  • Craft Bank is the first de novo bank in the Atlanta area in over ten years.
  • CEO Ross Mynatt joins the Tearsheet Podcast to discus his bank's launch and progress.
Zachary Miller | February 08, 2021
More Articles