Fiserv Forum 2014: Now is the Time to Reimagine the Financial Experience
More than 4,000 financial services industry leaders gathered for Fiserv Forum 2014 this past week, and the message was clear. The industry is in the midst of epic change, and now is the time for financial institutions to reimagine the banking experience.
During the Tuesday general session, Jeff Yabuki, President and Chief Executive Officer of Fiserv, challenged the largest ever Forum audience to think differently in order to stay at the center of their customers' financial lives.
According to Yabuki, the financial services industry must not only stay ahead of the disruption sparked by non-industry competitors and the rising tide of millennials, but also leverage it to their advantage.
"This is the perfect storm of potential disruption," said Yabuki, urging financial institutions to fundamentally change the way they think about technology. "Technology is no longer just an enabler; it is both an integral part of the business, and how relationships are formed."
The financial services industry has the power to harness the disruption around it, stated Yabuki, speaking to the importance of courageous leadership. "As an industry, we have to take more risks in delivering on a new customer experience," said Yabuki, challenging financial institutions to think about the experience they deliver to their customers. "We have to continue to prove that a financial institution is the best place for your money."
Ron Johnson, best known for leading the transformation of the Apple retail experience, took the stage following Yabuki's address.
"Transformative leaders risk to do one great thing at a time," said Johnson, sharing valuable lessons gained from his executive experiences at Target, Apple and JCPenney.
In a fascinating and candid conversation, Johnson discussed the creation of the Michael Graves line at Target and bringing the Apple retail stores to life – including insights into working with Steve Jobs – before finally revealing why his time as CEO at JCPenney was not a success.
"We are all creative," said Johnson, inspiring the audience to drive their success with creativity. "Just look in the mirror to discover your own creativity and trust your imagination."
Finally, during the Wednesday general session, President George W. Bush, the 43rd President of the United States, shared insights on world events, leadership and the intersection of financial services, public policy and government. The format was driven by topics requested by attendees and moderated by Yabuki. Participants spent the rest of their time in educational and strategy sessions, learning how the latest advances from Fiserv can equip them to deliver an enhanced customer experience. In addition, attendees took advantage of the 97,000 square foot Solutions Center at Forum, which showcased more than 100 solutions from Fiserv in an interactive, hands-on venue.