265) Stop Banking on Mistakes: Ditching Banking Processes for Outcomes

What is holding many banks and credit unions back from just doing the right thing by their clients? The unfortunate reality is that most financial institutions profit off of people’s mistakes. But what if they pivoted to banking on positive outcomes instead?

Matt Wallaert, Founder of BeSci.io and author of Start at the End, believes everyone in finance has an intrinsic desire to help others. But they’re bound to an industry that values measured processes over outcome-driven results, and that needs to change. And behavioral science could be the key to unlock a new perspective for financial leaders.

Join us as we discuss:

- The abstract nature of measuring behavioral science progress (4:42)

- Reducing friction points to make banking better for common people (20:28) 

- Why people need to hope before asking for help (34:20)

Check out these resources we mentioned during the podcast:

- Matt Wallaert

- Start at the End: How to Build Products that Create Change

- BeSci.io

You can find this interview and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.

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