Banks and credit unions know the future is digital, and that traveling there is a long road with many obstacles.
Chris Craver, head of digital products at Valley National Bank, joins us to talk about his bank’s approach to digital transformation and outlook for the future.
A few takeaways from our conversation:
- As the bank progresses in its digital transformation, a key priority is to not lose what Craver calls the “community banking ethos.”
- A major challenge is dealing with legacy technology issues – journey mapping and human-centered design are helping on this front.
- Valley already provides payment-related services to cannabis outfits, a rising industry that most banks are still trying to figure out.