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00:00:00 – 00:07:17
Stuart Cook from Valley Bank talks about the bank's transformation through technology partnerships with fintech companies, emphasizing the importance of collaboration in the financial sector. The collaboration extends to working with True Digital to drive industry-level growth. Additionally, there's a discussion on a network of Banks and Credit Unions focused on collaboration and innovation, facilitating vendor searches and connections for financial institutions. The importance of troubleshooting using a platform to connect with experts and optimize operations is highlighted. Overall, the emphasis is on collaboration, innovation, and leveraging technology partnerships for growth and efficiency in the banking industry.
00:00:00
In this segment of the video, Stuart Cook, the Chief Innovation Officer at Valley Bank, discusses how the bank transformed from a small community bank to a large institution with innovative technology solutions. He highlights the challenge of competing with large banks in technology spending and explains their approach to partnering with fintech companies to drive growth. Stuart also mentions their venture fund that invests in fintechs and emphasizes the importance of collaboration between banks and fintechs. He shares his positive experiences working with True Digital to drive industry-level collaboration aimed at benefiting the financial services sector. Patrick further elaborates on their collaboration with True Digital and how it has impacted the banking industry.
00:03:00
In this segment of the video, the speaker discusses a network of Banks and Credit Unions focused on collaboration and innovation. They clarified that to be eligible for the network, an institution needs to share information about vendors and services used. The platform only allows W2 employees of financial institutions and provides bank-verified vendor information. The network operates on a one-year contract costing $10,000 or less, with unlimited seats. Members can search for vendors based on categories, goals, or specific products used by other banks. The platform also facilitates connections based on institution size, core systems, implementation phase, and function needed, aiming to streamline vendor selection processes.
00:06:00
In this segment of the video, the speaker discusses the benefits of using a platform for troubleshooting issues by connecting with experienced individuals. They share a real-life scenario where a bank faced a significant delay in a vendor rollout but resolved it quickly by finding the right expert through the platform. The platform also provides insights into vendors and products to optimize operations.