In this episode of the Digital Banking Podcast, host Josh DeTar sits down with Steven Ramirez, CEO at Beyond the Arc, to discuss the future of banking in a rapidly evolving digital landscape.

The conversation kicks off with a reflection on the traditional banking model, which was largely one-size-fits-all. Steven highlights how digital innovation has disrupted this model, creating a demand for more tailored, intuitive experiences akin to those we see in the retail and entertainment sectors. The challenge for the banking industry is to meet these evolving expectations.

The discussion then shifts to the rise of the gig economy and its implications for banking. Steven and Josh explore how traditional banking models struggle to accommodate the financial needs of gig workers, who often don't fit neatly into existing categories. They discuss the need for financial institutions to adapt and innovate, using data-driven decision-making to better serve these emerging customer segments.

Finally, they touch on the competitive threat posed by big tech companies like Apple, which are encroaching on the banking space with seamless digital experiences and attractive offerings. The episode concludes with a call to action for banks to embrace change and maintain relevance in the face of these challenges.