TAG’s Fintech Society recently hosted a Lunch & Learn event featuring a panel titled “Financial Services in a Post-Amazon World,” focusing on the impact disruptors like Amazon have had on financial services and changed user expectations over the past 15 years.
The session was held at the Perimeter location of ROAM’s co-working space; the panel was moderated by Terry Ammons, partner at accounting and advisory firm Porter Keadle Moore. He was joined onstage by Robert Skiba, executive vice president at prepaid retail card leader InComm, Matt Reiner, co-founder and CEO of digital financial advisor assistant Wela, and JR Llewellyn, senior vice president of Meyer-Chatfield Compensation Advisors.
Skiba discussed the state of financial technology before Amazon and others transformed the way companies use financial services, the main challenges faced by the fintech and financial industries as innovative new solutions became mainstream, how well the fintech and financial industries adapted to these challenges and the continuing evolution of financial technology.
The impact companies like Amazon have had on customer expectations was covered by Reiner. In particular he offered insight into what customer expectations regarding financial services were prior to companies like Amazon and how these expectations started to change once new innovations were being offered, how financial services innovations that were introduced during the past 10-15 years set the modern standard for customer service, the impact of AI on customer expectations, how successfully the financial industry adapted to meet people’s changing expectations and the role large organizations like Amazon play in the post-Amazon age when it comes to defining customer expectations of the future.
Llewellyn focused on the impact companies like Amazon had on staffing requirements. He talked about what recruiting was like before companies like Amazon revolutionized financial services, how Amazon and others changed the way people are recruited by the fintech industry today and how recruiters were forced to adapt the way they did business and how this era of rapidly changing technology transformed employers’ expectations.
We hope you can join us in late September when our next TAG FinTech Lunch & Learn will explore fintech’s evolution in the business-to-business (B2B) space.