Episodes
Tuesday Oct 03, 2023
The Transformation Blueprint: Talking About Organizational Change
Tuesday Oct 03, 2023
Tuesday Oct 03, 2023
Strategic planning is just around the corner and organizational transformation is a topic for many financial institutions. Allied's EVP, Chief Strategy & Technology Officer Dave Hilger joins the pod to discuss how to optimize your people, processes, and organization for future growth.
In this episode…
[0:35] Meet Dave Hilger
[4:31] Why is planning for growth imperative to a company’s future?
[5:00] The next goal is how to prepare to be a long-term, successful company.
[5:49] Covid did not impede us or our success one bit.
[5:57] Should other companies consider OCT?
[6:30] How do we become a bottom-up-driven company?
[7:42] This [initiative] is wildly different from what we used to do.
[8:25] How did you lay the foundation?
[9:13] What do we want to do? Why are we here?
[9:20] Do you recommend using an outside partner?
[9:57] Threats are everywhere, the world is changing. Right now we are in a tough lending environment.
[10:38] We try to do too many things, in too many directions.
[11:31] You have to plan for change, you have to be willing to change. I think you always have to question.
[13:10] How did you get your team excited for change?
[13:54] Sometimes the folks steering the ship forget what it’s like to run the ship.
[14:34] We had open, harsh criticism.
[15:47] I get jazzed about the concept of change.
[16:30] Words of wisdom for the company looking to create or re-evaluate their strategic plan
Thursday Sep 07, 2023
Banking On Video: Turning Heads in the Attention Economy
Thursday Sep 07, 2023
Thursday Sep 07, 2023
Capture your customers' attention with video and by leveraging artificial intelligence. Allied's own Charlie Peterson, Senior Vice President of Strategic Initiatives, joins the pod to discuss how Financial Institutions can improve the customer experience.
In this episode…
[0:30] Meet Charlie Peterson
[1:54] What is the Attention Economy and why should financial institutions be familiar with it?
[2:36] Video is the answer.
[3:50] 98% of all text messages are read within 3 minutes.
[4:32] Should FIs be worried about SaaS tools?
[5:25] You should have your eyes wide open to opportunities to be better at what you do.
[7:12] No special skills required to use video editing tools.
[8:17] How do we know that video is going to stick around?
[8:55] Viewers retain 95% of a message they watched via video compared to 10% when reading it.
[9:21] Why are some institutions hesitant to evolve and keep up with trends?
[10:25] Elevate your game and deliver what your customers are looking for.
[11:00] The cost of NOT evolving and transforming.
[13:35] Best practices for using video.
[14:24] 83% of the internet traffic is dominated by streaming and video.
Tuesday Aug 08, 2023
Risky Business: Inside Today’s LPI & Mortgage Tracking
Tuesday Aug 08, 2023
Tuesday Aug 08, 2023
Allied Solutions’ Senior Vice President, Mortgage Solutions Group Jason Sweeney joins The Allied Angle to discuss the current state of mortgage, LPI, and the future of technology in lending.
In this episode…
[0:35] Meet Jason Sweeney
[2:00] What’s your go-to karaoke song?
[2:49] What brought me into this industry is pure chance.
[3:22] What has changed the most [in this industry] is an intriguing question.
[4:00] We are at the mercy of the US postal service.
[4:30] False placement is the most disruptive component to a borrower’s venture in owning a home.
[7:23] Mortgage and LPI have been making big news recently…
[9:37] Is there a way for lenders to make sure their data is transferred accurately and in a timely manner?
[13:52] We’ve really deployed automated web verification technology…
[16:39] Going through the proper compliance, and sending a text message is critical.
[20:04] AI has quickly infiltrated every industry…
[24:47] This is concerning for everyone…it is very difficult to get certain types of insurance through the standard channels in high-risk/high disaster-prone areas.
[27:06] I can see some of these carriers coming back into these areas when we can renormalize how these catastrophic events are dealt with.
[27:21] Where do you see the mortgage and LPI industry in five years?
Tuesday Jul 11, 2023
What’s New (and Used) in Auto Finance
Tuesday Jul 11, 2023
Tuesday Jul 11, 2023
New and used car prices, sky-high interest rates and the looming impacts of inflation. Director of Finance Company Markets, Suzi Straffon, breaks down the latest trends in Auto Finance.
In this episode…
[0:31] Meet Suzi Straffon
[1:35] How did we get here?
[2:34] I saw an interesting stat – 88% rise in index pricing from April 2020-January 2022.
[5:25] Also on the table is a potential recession, many analysts expect a mild recession.
[8:00] Things that are affecting default rates.
[9:27] It’s really expensive to own a vehicle.
[9:41] The average transaction price for a new vehicle is $48,700.
[11:05] Used car prices have come down.
[13:38] Vehicle affordability is going to continue to be a challenge.
[16:07] The CFPB’s focus the last few years and how lenders are responding.
[19:01] Right now, there is a big competition for loan share.
[21:45] In this market, would you purchase new or used?
Monday Jun 05, 2023
Unraveling CPI: Safeguarding Assets & Understanding Risks
Monday Jun 05, 2023
Monday Jun 05, 2023
Allied’s Senior Vice President, Client Experience and Risk Management Services Anne Holtzman joins the podcast to talk about why CPI is such a hot topic. Anne covers what she’s been seeing in 2023, the effects of a booming used car market, challenges FIs are facing, and her predictions for the backend of the year.
In this episode...
[0:26] Meet Anne Holtzman
[3:46] Why CPI, why is this such an important topic?
[6:10] In 2023, we've seen the highest auto default rates now up to almost 0.94%.
[6:26] A decline in automobile car values.
[8:19] The average interest rate on a used vehicle is 10.5%.
[9:17] Continue to see restricted demand on vehicles as we move through 2023 and 2024.
[11:10] With inflation, a much higher cost to repair vehicles.
[11:52] Delinquency or deficiency balances, are going to return.
[12:34] If you're not lending, then the focus is always on risk mitigation.
[13:50] About 36% of the repossession agent market was lost.
[14:28] We are going to see decreased recovery rates and an increased need for technology.
[18:49] What are your market predictions going into the back half of 2023?
[19:06] Are vehicles going to be affordable for the main-line consumer?
[19:50] Technology, digital engagement, and AI are going to make a big mark.
[20:39] 2024 will be a year of refinance.
Thursday Mar 30, 2023
The Lowdown on Alternative Deposit Solutions
Thursday Mar 30, 2023
Thursday Mar 30, 2023
The need for deposit solutions is on the rise. Allied Solutions' Charlie Peterson breaks down traditional and non-traditional solutions to help Credit Unions navigate turbulent economic times.
In this episode...
[0:28] Meet Charlie Peterson[1:51] Liquidity Crisis -- why so much “hype” around it?[3:22] Organic lending is starting to come back, and people are getting nervous because...[4:00] 75% of CFOs are nervous, 25% are “game on”.[5:44] Strategic planning became a strategic adjustment conversation.[6:33] Nontraditional ways institutions can achieve the same goals...[7:01] What is a “broker deposit”?[10:01] When looking into an investment or new deposits, talk to your regulator.10:32 You need a solution that is more infrastructure based.11:02 If you are not able to give your members or consumers what they need, that’s a high cost.[12:25] At the end of the day the low-income credit unions (LICUs) have a greater demand (for deposits).[12:45]: A: Can CUs use secondary capital in conjunction with DTC eligible share certificates/ broker deposits? absolutely![13:14] Its most important that you are looking to bring the deposits in the door.13:47 Time is an enemy, right now pull the trigger and make a decision on what you want to do... make more loans to your members.[14:00] Newer channels available to financial institutions - technology, everything is technology.14:38: From a consumer’s perspective...[17:32] 83% of all internet traffic is estimated to be streaming and video.[18:12] A homework assignment for listeners- open an account with your competitors.[19:49] If a customer experience is strong, WOM is one of the best things that can happen.
Monday Jan 30, 2023
Top 2023 Trends for Financial Institutions
Monday Jan 30, 2023
Monday Jan 30, 2023
Today, we’re recapping the top stories from 2022 with Allied Solutions’ Senior Vice President and Chief Growth Officer, Mark Bugalski, as well as outlining Top Trends for 2023.
In this episode…
[0:51] Meet Mark Bugalski
[2:08] A lot happened in 2022
[2:35] Preparing for a liquidity crisis
[3:55] There’s good news and bad news when it comes to balancing a portfolio in a liquidity crisis.
[5:21] It’s important to be conscious of non-interest income opportunities.
[6:11] Make sure there is a process in place to do short and long-term forecasting.
[7:06] General consensus in the industry, the fed is looking to stabilize their policy in 2023 which should help guard against massive interest rate spikes.
[8:53] How digital should an institution get?
[10:08] It’s about providing options when it comes to engaging your ideal customer.
[11:49] Even today, a lot of employers still struggle with the idea of attracting and retaining good employees and it goes beyond compensation.
[13:15] I believe that if you have a digital delivery channel or strategy, it just supplements the human and relationship aspect of how people want to do business.
[14:29] Why is video such a big deal?
[17:45] That’s probably one of the most exciting aspects of SundaySky is we’re enabling our clients to help accomplish a lot of things they want to get done internally but they have had to historically outsource.
[19:48] What should we expect out of 2023?
Grow. Protect. Evolve.
Partnering with financial institutions since 1978, we are focused on helping more than 4,000 clients grow or enhance their bottom line, protect their business and consumers, and evolve to stay ahead of the competition