August 20, 2018

How a Massive Merger is Driving the Future of Banking Tech

It’s always fun to talk with someone who is on the cutting edge of their industry. And when that industry is something as significant to the global economy as banking, it gets even more interesting. On this episode, you’ll hear Drew conversation with Martin Häring, CMO of a newly formed company Finastra. Finastra is actually the result of a merger between two existing powerhouses in the banking technology industry – Misys and D+H.

In our conversation, Martin highlights the particular challenges faced in bringing two well-known and highly-respected companies together with an eye to maintaining the reputation and specialization of each but forging something altogether different and exciting at the same time.

As Chief Marketing Officer, for Finastra, Martin is responsible for marketing on a global scale. He first joined the team at Misys in October 2013 and is part of the Executive Team at the newly formed company. He’s excited by both the company’s significant role in the banking industry, and its influence in the world of financial technology.

You’ll enjoy this conversation, click here to listen!

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Marketers Are All Storytellers

One of the most intriguing things to me about a huge merger like has happened between Misys and D+H is the task of creating a new brand identity without losing the loyalty and enthusiasm of existing customers. It’s not simply a matter of coming up with a catchy name and deciding on a color palette for the new logo and letterhead. The legal issues alone are mind-boggling.

Martin shares some of the challenges the Finastra team had to address in its merger and rebrand and highlights how the same foundational principle that supports good marketing – storytelling – was required internally in developing and nurturing a new vision among its team members, and externally in the form of customer outreach and communication. I love how marketing principles prove to be useful in a variety of challenges businesses face. Martin’s insights are gold, so be sure you take the time to listen.

Be Courageous In Forming A Vision

When it comes to bold visions, Martin Häring and the team at Finastra are leading the way in the banking industry. The company is positioned as a leader in banking technology and is intentionally paving the way for the future of what banking will become as a global industry.

In our conversation, Martin and I talk about the role A.I. (artificial intelligence) will play in banking tech and how Finastra is leading the way in developing the systems and platforms that financial institutions will use in the future. It’s a long, slow road to introduce new technologies in the banking industry but the Finastra team is not only patient, they know the industry well and are taking steps at the pace the industry can handle.

Are you driving the trends in your industry, or trying to keep up with them?

In Martin Häring’s view, CEOs and CMOs should be asking themselves daily if their company is merely maintaining the status quo or driving their industry forward. It’s the innovation and disruption market leaders create that makes them the go-to people in a given industry.

In this conversation, as Martin describes the changes coming to the future of banking technology and the role his company, Finastra is playing in the implementation of those changes, I got a feel for what he meant. It’s about thinking ahead, looking into the future to see what will be needed years from now, and positioning yourself to be the one to meet those challenges and provide the right solutions. This was an enjoyable and challenging conversation you won’t want to miss.

What You’ll Learn

  • [0:29] My guest on this episode: Martin Häring of Finastra
  • [1:18] The amazing journey of how Finastra combined 3 companies
  • [4:41] Approaching the business analysis for a merger of this magnitude
  • [7:23] Getting employees excited about the new brand coming from the merger
  • [11:20] The brand naming process, legal hurdles, internal challenges
  • [13:36] An unbelievable 6 month timeframe for making the merger happen
  • [21:01] Martin’s interview with a human-sounding and human-looking android
  • [24:43] A.I. solutions being built into the Finastra platform
  • [28:07] The biggest marketing challenges Martin and Finastra are facing

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Resources & People Mentioned

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Quotes from Martin Häring

That's important for every company, that you create the emotional moment that stimulates and motivates 10,000 employees to go for a new journey.
In marketing, we are all storytellers. We have to create emotions.
If you don't leverage the innovation and leadership from a broader community, you are missing a trick.
As a CMO, you should always wake up in the morning and ask yourself: is what I'm doing good enough? Is it innovative enough? Is it disruptive enough?