Episode 2 Liz Wolverton, Head of Consumer Banking and Brand Experience at Synovus: Bringing digital and human together in all banking interactions

Banking on Innovation

The second episode of our leadership podcast series, Banking on Innovation, features Liz Wolverton, Head of Consumer Banking and Brand Experience at Synovus, a 134-year-old regional bank with around $55 billion in assets, serving clients in the southeastern US.

Liz, who has been with Synovus since 2003, has been named one of American Banker’s 25 Women to Watch every year since 2015. She also has an unusually wide-ranging remit, extending from oversight of her organization’s marketing, digital, analytics and customer experience functions to responsibility for the branch network, consumer banking products and services, and mass affluent strategy and execution.

This translated into a provocative discussion around how regional banks can not only personalize customers’ experiences online, but also do more to bring digital insights to customers when they interact with their bankers in physical branches.

“One of the questions that I’ve been asked is how do you really motivate branch teams to be digital champions, because in a sense it takes away from what they do. And I just think that’s a crazy statement. We position team members within our physical locations to be advisors and to serve our customers... [The insights derived from digital and data] just mean that they can do something different within the four walls of the branch than work on a deposit. What if they had a conversation about that customer’s transactional insights? That’s a much better way for that customer to walk away with value.”

Ultimately, she would like to see all interactions become omnichannel, with digital and assisted (banker) channels blending completely.

“So I can start an application online and finish it in the branch - that’s sort of today’s expectation. But [in future], when I get an insight online, I’m going to expect that when I go into that branch, I don’t have to show that to you so you know [about it]. High-tech and high-touch is so blended that my relationship feels wholesome.”[DB1]

At Personetics, we call this truly seamless experience “connected channels,” and it’s part of our vision too.

“I see it as a dance, a beautiful dance of that choreography between the digital and the human coming together. Right now, I think most banks - and we’re one of them - are in the elementary class of that. But I see the future where that comes together really beautifully.”

Plus you’ll learn:

>> What Liz has found engaging about banking over a 20-year career - a personal perspective from an industry leader

>> Why Synovus’ business model has been so enduring - the bank was founded in 1888

>> How customer expectations from their banks have evolved recently - setting a “new bar”

>> The “obvious” change regional banks need to make in order to compete - but many aren’t

>> Where mid-market banks need to invest in order to exceed customer expectations - 3 areas

>> What the Apple watch can teach banks about personalized customer experiences - Liz frequently shares this analogy with her team

>> How the role of the banker is evolving in a data-rich environment - and why it’s empowering them

>> The next step in customer personalization that the industry will take - because omnichannel transactions are not enough

>> How the Metaverse will change customer expectations - amongst other ways customer expectations will evolve in the near future

...and more.

Beyond the episode:

Find out more about Personetics’ personalized, customer-engagement platform for financial services: https://personetics.com/

Connect with Jody Bhagat on LinkedIn: https://www.linkedin.com/in/digitalbusinessgrower [DB1]Take this out if you need to cut