Name: Revolutionizing customer experience with AI and embedded finance
Uploaded: 2024-06-14T08:21:01.542Z
Duration: 221.25
Description: Steven Ramirez, CEO of Beyond The Arc, talks about the impact of generative AI and embedded finance on enhancing customer interactions. Steven explores the shifting expectations among consumers and business executives as he discusses the future of financial services.

FSPR.ED.06_Steven Ramirez_converted.mp4

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English

{{00:00:05}}
Hello everyone and thank
you for joining us today.

{{00:00:08}}
My name is Julie Muhn.

{{00:00:09}}
I'm Senior Research Analyst with Finovate
and today I'm joined by Steven Ramirez,

{{00:00:14}}
my friend and CEO of Beyond the Arc.

{{00:00:17}}
Steven, thanks so much
for coming in today.

{{00:00:18}}
Always a pleasure.

{{00:00:20}}
Yeah, so you spend a lot of
your day thinking about customer

{{00:00:23}}
experience and so I'd love to
pick your brain on that right now.

{{00:00:26}}
So customer experience is something that
we've been talking and banking about

{{00:00:30}}
for who knows, the past decade, I was
going to say, the past decade or so.

{{00:00:35}}
But it has rapidly
changed in the last year.

{{00:00:38}}
Can you tell us about
some of those evolutions?

{{00:00:40}}
Yeah, I'm really excited about
what I'm seeing in two areas.

{{00:00:43}}
One is generative AI and how it is
not necessarily, it's not coming to

{{00:00:47}}
fruition yet, but it's going to be soon.

{{00:00:50}}
and I think that also embedded finance,
which really just means customer

{{00:00:54}}
experience in the moment, financial
services in the moment without having

{{00:00:58}}
a completely disjointed experience.

{{00:00:59}}
So those are two things that last year.

{{00:01:02}}
We didn't see as much of, but
now very much on the, radar.

{{00:01:04}}
Yeah.

{{00:01:05}}
And so that's, from the tech side,
talk to us a little bit about, from

{{00:01:08}}
the consumer expectations side,
the end consumer, how have their

{{00:01:12}}
expectations changed in the past year?

{{00:01:14}}
Two really key things.

{{00:01:16}}
So one as consumers, of course
the bar is really high, right?

{{00:01:20}}
We've now enjoyed these seamless
experiences, digital and in person.

{{00:01:25}}
They've been fantastic, but what
is happening now that's also very

{{00:01:28}}
interesting is you're taking that to work.

{{00:01:31}}
And so you're seeing that key
executives and people at companies

{{00:01:35}}
also have those expectations.

{{00:01:37}}
So now we're seeing it in B2B
as well as on the consumer side.

{{00:01:41}}
Interesting.

{{00:01:41}}
Yeah.

{{00:01:43}}
And so looking again, tying back into what
we were talking about at the beginning,

{{00:01:48}}
about how banks can capitalize on this.

{{00:01:51}}
Talk to us about some enabling
technologies out there that

{{00:01:54}}
banks can leverage to improve
the customer experience.

{{00:01:58}}
Yeah, what have you been seeing out there?

{{00:02:00}}
Obviously, personalization has been a
buzzword for a long time, but now the

{{00:02:05}}
technology is really enabling it, right?

{{00:02:07}}
We again, we started to talk about
this theoretically 10 years ago and

{{00:02:11}}
practically maybe five years ago.

{{00:02:13}}
But now I think with generative AI, It's
a combination of generative AI and what

{{00:02:18}}
we're now calling predictive A I and
it's really being able to understand.

{{00:02:22}}
First of all, what are
people actually saying?

{{00:02:24}}
So we can actually mind
more of their reactions.

{{00:02:28}}
But then we can predict their next action.

{{00:02:30}}
We can give them recommendations.

{{00:02:32}}
And the two technologies together,
I think, are really powerful.

{{00:02:36}}
So from a technology perspective,
it really, unfortunately, is

{{00:02:39}}
all about AI and when it's not,
it's about embedded finance.

{{00:02:45}}
That's really what's happening.

{{00:02:46}}
And when the two come
together, it is so powerful.

{{00:02:48}}
It really is.

{{00:02:49}}
And, why I find embedded finance so
exciting is that it just means that

{{00:02:54}}
financial services is integrated into all
of these other great digital experiences.

{{00:03:01}}
And we already know that from consumer.

{{00:03:02}}
It's like the Uber experience, right?

{{00:03:04}}
You don't ever think about the payment.

{{00:03:06}}
It's like amazon's, just walk
out retail technology where you

{{00:03:10}}
just walk out without paying.

{{00:03:12}}
This kind of seamless thing
we've seen as consumers.

{{00:03:15}}
But now there's the opportunity for banks
to think about how do they take those

{{00:03:19}}
same portfolio of products and services,
but distributed in very different ways.

{{00:03:25}}
Great.

{{00:03:26}}
Yeah.

{{00:03:26}}
Lots of opportunity there.

{{00:03:27}}
That's wonderful.

{{00:03:29}}
this has been Steven Ramirez,
CEO of Beyond the Arc.

{{00:03:32}}
I'm Julie Muhn.

{{00:03:33}}
Thank you.

Hello everyone and thank
you for joining us today.

I'm Senior Research Analyst with Finovate
and today I'm joined by Steven Ramirez,

Steven, thanks so much
for coming in today.

Yeah, so you spend a lot of
your day thinking about customer

experience and so I'd love to
pick your brain on that right now.

So customer experience is something that
we've been talking and banking about

for who knows, the past decade, I was
going to say, the past decade or so.

But it has rapidly
changed in the last year.

Can you tell us about
some of those evolutions?

Yeah, I'm really excited about
what I'm seeing in two areas.

One is generative AI and how it is
not necessarily, it's not coming to

and I think that also embedded finance,
which really just means customer

experience in the moment, financial
services in the moment without having

We didn't see as much of, but
now very much on the, radar.

And so that's, from the tech side,
talk to us a little bit about, from

the consumer expectations side,
the end consumer, how have their

So one as consumers, of course
the bar is really high, right?

We've now enjoyed these seamless
experiences, digital and in person.

They've been fantastic, but what
is happening now that's also very

interesting is you're taking that to work.

And so you're seeing that key
executives and people at companies

So now we're seeing it in B2B
as well as on the consumer side.

And so looking again, tying back into what
we were talking about at the beginning,

Talk to us about some enabling
technologies out there that

banks can leverage to improve
the customer experience.

Yeah, what have you been seeing out there?

Obviously, personalization has been a
buzzword for a long time, but now the

We again, we started to talk about
this theoretically 10 years ago and

But now I think with generative AI, It's
a combination of generative AI and what

we're now calling predictive A I and
it's really being able to understand.

First of all, what are
people actually saying?

So we can actually mind
more of their reactions.

But then we can predict their next action.

And the two technologies together,
I think, are really powerful.

So from a technology perspective,
it really, unfortunately, is

all about AI and when it's not,
it's about embedded finance.

And when the two come
together, it is so powerful.

And, why I find embedded finance so
exciting is that it just means that

financial services is integrated into all
of these other great digital experiences.

It's like amazon's, just walk
out retail technology where you

This kind of seamless thing
we've seen as consumers.

But now there's the opportunity for banks
to think about how do they take those

same portfolio of products and services,
but distributed in very different ways.

this has been Steven Ramirez,
CEO of Beyond the Arc.

FinovateSpring

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Steven Ramirez, CEO of Beyond The Arc, talks about the impact of generative AI and embedded finance on enhancing customer interactions. Steven explores the shifting expectations among consumers and business executives as he discusses the future of financial services.