This week’s Streamly Snapshot options an interview with Rob Thacher, Founder and CEO of BankShift, on the way in which embedded banking helps neighborhood banks, credit score unions, and different monetary establishments supply extra providers to their prospects and provoke new income streams.
On this interview, recorded at FinovateSpring 2025 in San Diego, Thacher talks concerning the newest tendencies within the embedded banking house, present challenges and limitations confronted by neighborhood banks and credit score unions, and the way applied sciences are rising to assist these establishments higher serve their prospects and members whereas competing successfully towards their bigger rivals.
The brand new demographic, we name them the Gen Zers, 28 years previous and beneath, they’re in a unique house from the place monetary establishments are. Historically, with monetary establishment apps, it’s important to go there and do every part. However sadly, these giant monetary establishments and these neobanks are actually impeding these Gen Zers from eager 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 aren’t within the monetary establishments which are $5 billion and beneath; they’re not in search of these apps.
The metrics present that you simply lose these of us once they come together with their member of the family to change into part of a credit score union or neighborhood financial institution. And that’s the way you (get) these customers. And so, what’s taking place? They’re shedding them and so they’re not coming again.
Based in 2020 and headquartered in Portland, Oregon, BankShift presents an embedded banking loyalty platform that helps monetary establishments associate with trusted manufacturers in an effort to unlock new sources of income and improve engagement with prospects. BankShift offers banking and loyalty providers through 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 associate. BankShift made its Finovate debut at FinovateFall 2024 in New York and returned to the Finovate stage the next yr 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 revolutionary fintech initiatives. Thacher thrives on constructing large-scale merchandise and platforms that remedy actual shopper challenges by cutting-edge expertise.
Photograph by Tabitha Mort
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