The banking industry is entering another period of transformation. As fintech companies continue to mature, regulatory conditions evolve, and competition increases, financial institutions are faced with important strategic decisions that will shape their future.
In the latest episode of Perspectives Live!, we sat down with Shana Henigan, EVP of Client Strategy at SRM, to discuss the trends influencing banks and credit unions today. Drawing on nearly 25 years of experience working with global financial institutions, community banks, and fintech companies, Shaina shared practical insights on fintech partnerships, bank charters, strategic planning, and what leaders should be focused on in the months ahead.
Key Takeaways
- Look beyond the technology. When evaluating a fintech partner, assess the organization’s financial services expertise, leadership experience, and compliance capabilities alongside the technology itself.
- Stay focused on your institution’s strategy. Rather than trying to be everything to everyone, identify where your institution delivers the most value and make partnership and technology decisions that support that direction.
- Evaluate whether legacy systems are limiting future growth. Take an honest look at your technology, processes, and organizational readiness to determine whether they support your long-term goals or need to evolve.
- Develop a clear roadmap before making major investments. A well-defined five-year strategy can help institutions prioritize technology, partnerships, and operational decisions with greater confidence.
- Conduct thorough due diligence before entering fintech partnerships. Verify a partner’s compliance framework, regulatory understanding, and governance practices rather than relying solely on vendor assurances.
Watch the Full Perspectives Live! Episode
Every episode of Perspectives Live! features conversations with SRM experts on the trends shaping banking, payments, technology, and financial services. Watch the full episode to hear more of Shaina Henigan’s insights and stay tuned for future discussions designed to help financial institutions navigate what’s next.
