[00:00:00] Josh DeTar: Welcome to another episode of the Digital Banking Podcast. My guest today is Danny Payne, Sales Director Digital Experience for Jack Henry. You know, when I asked Danny, "If someone wanted to know something about you, what would you want them to know?" He responded without skipping a heartbeat that, "I'm a family man,
[00:01:49] Josh DeTar: a hundred percent, through and through." From his childhood, Danny watched his parents pour their heart and soul into everything they did. There was no such thing as halfway in the Payne household. And this mindset really stuck with him so much, so that even when it comes to playing sports himself or chasing his kids from sport to sport, Danny has sacrificed his knees to the tune of four surgeries.
[00:02:13] Josh DeTar: And, mind you, when I read that back to him, he added, "Well, and an Achilles surgery to boot. If you wanna throw that in there." All to keep him going at this all-in pace in everything that he does. He also made sure to add that without the incredible support of his wife, who holds it all together, this mindset just wouldn't work.
[00:02:32] Josh DeTar: Now, by happenstance, over 20 years ago, Danny got introduced to the community FI space by taking a job at a credit union. And from that point forward, Danny applied his 100% all-in motto to this industry. And still to this day is a hundred percent all-in on supporting and building up community FIs. Danny, welcome to the podcast.
[00:02:52] Danny Payne: Thanks, Josh, this long time coming, man. Appreciate it.
[00:02:56] Josh DeTar: Yeah. Well, so, we talked about this beforehand, and I gotta kick it off with a little bit of a shout-out. This is a pretty cool episode because we call ourselves the Digital Banking Podcast, but to date, I've never had another digital banking company on the podcast. And this is the first time where an actual direct competitor is on the podcast.
[00:03:18] And I'm really thankful for that because, you know, I think Danny and I wholeheartedly agree that one of the things that makes this industry so great is the cooperation model. And, you know, like I said, I do want to give a little bit of a, a shameless plug. You know, we work with a lot of different vendors in this space.
[00:03:33] Josh DeTar: We work with a lot of different competitors in this space. And we work with big companies and small companies. And if I'm being honest, a lot of times the big companies are harder to deal with. They're harder to build genuine relationships with, and that really has not been our experience with Jack Henry.
[00:03:47] Josh DeTar: And I think that just the fact that you and Jack Henry are willing to be the first competitor on this podcast kind of speaks volumes to that. So, I, I did just want to call that out and say thank you. And then, I'm really excited to be able to talk about some different things today. From the standpoint of tomorrow, you and I may be responding to the same RFP against each other, but you know what, today we're really focused on doing what's right for our industry, and that's where that cooperation model comes into play.
[00:04:14] Josh DeTar: So, I just wanna say, thanks, Danny.
[00:04:16] Danny Payne: No, I, and I, I appreciate it, Josh. And I think the, and, again, I'm excited to be on here too. I didn't even blink twice at the idea of what you and I do for a living, and the fact that we could be, you know, in a, both responding to an RFP tomorrow. But the beauty of what you just said is, is that actually, if you think about this the right way, you could be responding to an RFP for a Jack Henry Bank where you're still actually in partnership with Jack Henry with your product, at the same time, while me and my group, over on the digital side, may lose out to what you're doing.
[00:04:49] Danny Payne: So, it's actually a really cool, cool competition process because while me, specifically, and what I do over at Jack Henry may be in contrast to what you're doing at Tyfone, the true partnership between what you guys are doing in the open relationship that we have at Jack Henry allows you to go into a bank or credit union that's using a Jack Henry product and still have that integration and opportunity to do business.
[00:05:12] Danny Payne: So, you know, it's a, the financial technology world is a place where we both know that we're never going to be able alone to solve every problem for every bank or credit union out there. So, the idea that there is collaboration of ideas that happen, and that you and I can get on a podcast and talk about those things, I mean, I think it's fantastic for the industry as a whole.
[00:05:35] Josh DeTar: Yeah, I agree. You know, I think one of the things too that, I don't know how many folks in our industry actually know about that aren't active participants in it, is there's actually a group called AFT, or Association for Financial Technologies. And, Danny, you've been a part of it for a lot longer than I am.
[00:05:53] Josh DeTar: You'll have to keep me honest, but, you know, this group's been around for a hot minute. And, really, the purpose of this group is exactly what you're seeing in today's podcast, is, you know, bringing folks who provide either or both, competing or complimentary services and products for the credit union and community bank space together to be able to figure out, "How can we just support our industry better and as a whole?"
[00:06:20] Josh DeTar: And so, literally twice a year, we all get together in some location and talk about that. And Danny and I will be sitting there having breakfast together and there may be somebody else that, quote-unquote, represents a competitor of ours sitting there. And there may be somebody that's a partner of ours that we've been partnered with for a long time.
[00:06:36] Josh DeTar: And there may be somebody who's got a brand new, you know, FinTech that wants to be able to offer new services to our industry and wants to get to know people. And so, I feel like that might be something that'd be worthwhile for you to talk about 'cause you've been really actively involved in that.
[00:06:49] Josh DeTar: And I think it'd be good for people to know that, um, you know, we actually get together and look at how can we build a stronger industry. You wanna talk a little bit about AFT?
[00:06:57] Danny Payne: Yeah. I mean, so, yeah, AFT's been around for 50 years now, actually. Just celebrated the 50th anniversary at the, um, last summit in Vancouver. As a matter of fact, I was voted on the AFT board during that session. And, and you're right, I think for the listeners of this podcast, if, if you represent a bank or, or credit union, I think what you can feel good about is to know that there is an organization of financial technology companies that, we all get together twice a year,
[00:07:25] everybody puts their swords and knives away. We stop fighting, you know, for your business. And we actually sit and spend two days collaborating on what we can do and how we can understand what's happening in the industry to make sure that we're better serving. And I think that's what, why I give my time to AFT, why I'm so passionate about it, is because the idea that everybody can put aside the competitive spirit of, of what we're trying to do in the industry and actually learn from each other, through sessions and education, to figure out and make sure that we're pointing in the right direction.
[00:07:59] Danny Payne: Not only for, you know, "Hey, should we be doing this or should we be doing that, but how are we helping point banks and credit unions in the right direction for the competition that they have in the market? How are we making sure that we're sharpening our saw in a way that we're giving them the tools to be competitive out in the landscape that they're dealing with?
[00:08:19] Danny Payne: Which has evolved greatly from the days of, 'Hey, I've gotta compete with Bank American and Chase across the street.' To, 'Hey, how do I compete with Amazon and Google?'" And that's, that's a, a really different way in a different era in which, that bank and credit union CEOs today are having to, you know, understand what they're up against when it comes to users that, you know, they're coming into the branch and downloading their mobile app and doing business with them.
[00:08:45] Josh DeTar: Yeah. I want to come back to that, Danny. This idea that, you know, there's a lot of competition for, you know, financial institution's business, both from traditional sense and from kind of the new age threat sense. But I want to go back to one thing that you made a comment on earlier, because I do think it is kind of important to reiterate, right?
[00:09:05] Josh DeTar: I think there's an understanding and agreement that none of us are capable of really servicing this entire market, and no one is right for everyone. And that's kind of the importance of the competition element of this, right? I mean, you look at the big three, right, Jack Henry, FIS, Fiserv, all three mega companies, lots of products and services.
[00:09:28] Josh DeTar: And you still don't do everything, and neither one of those companies owns a hundred percent of the market share, right? So, regardless of how big you get or can get, there is still no way you're gonna be able to do all things for everyone. So, I just think that that's an important point to kind of reiterate.
[00:09:44] Danny Payne: No. And, and you're right. I mean, if, if we, as a market, and I'm not talking about we as the company I work for, I'm talking about retrospectively we as a marketplace, if we are not looking at an in, in a, way to embrace embedded FinTech. And what I mean by embedded FinTech is, how can I, if you're using any online platform for your bank or credit union, how is that online platform embracing the idea of allowing other services that could possibly be outside of the company that, that owns that online banking platform? How are they allowing those services to plug into and be a part of that platform in a way that gives you, the bank or credit union, the products, and services you need to comp, continue to be competitive in the market?
[00:10:36] And the only way that you're going to, you're gonna maintain any kind of first app status when it comes to, you know, you're the users that, or using your app versus opening PayPal, or Venmo, or whatever else it is out there. The only way they're coming to you first is if you can embed those services into your, you know, into your online mobile services, in a way that, that allows them to do business or, or process, or do whatever they need to do immediately.
[00:11:01] And I, I just think, I think that's an onus on us, all of us. And when we go back to talking about AFT, you know, and getting in a big room and all talking together, that's an onus on all of us, "How are we going to serve our bank and credit union partners in a way that allows them to get everything they need in one download, one app?"
[00:11:21] Josh DeTar: Yeah. You know, before I address that, I just wanna say, you know, we're like 10 minutes into chatting, and I wanna make sure people know, don't worry, this is not gonna turn into a sales pitch for either Tyfone, or Banno, or Jack Henry. But we really wanted to take a minute to address those points because I do think it is really important, and, you know, Danny and I were talking about this before we started recording that, you know, there are certain things that a lot of times in, look, I'm gonna say it super bluntly, like, in the sales process, there's things that we really want to tell community financial institutions, conversations we really want to have with executives at these FIs.
[00:11:57] Josh DeTar: And we have to tread the line. You gotta be a little bit careful because, you know, ultimately, we want an opportunity to demonstrate that, you know, we could do great things together and we'd provide value to each other if we became, you know, mutual customer partner relationship. And sometimes you don't get a chance to have those conversations later if you're the blunt jerk at the beginning, right?
[00:12:18] Danny Payne: Yeah, I.
[00:12:19] Josh DeTar: But there are things that we really do want to have the conversation about. And I think, you know, Danny, to what you were just talking about, I think that's one of 'em, right? And, and you kind of made a comment to me, I think we were talking at financial brand about, you know, that concept of first app status and, like, the fact that we still have to educate sometimes community FI executives that, "No, you gotta go look at the data, or you've gotta take your blinders off and you gotta realize there is a substantial amount of competition for your business.
[00:12:52] Josh DeTar: And you may think that your members love you and they may, may actually love you, but how many of your products are they using and how many other products are they using? And if you were to grab their phone from 'em and open it up and see how they have their tiles organized, how they have their apps, would there be a folder for finance and a bunch of different apps, like mine has, or would they have one single app that says, 'My favorite credit union where I have all of my products and services?'"
[00:13:23] Josh DeTar: I have a feeling it's not the latter.
[00:13:25] Danny Payne: I mean, I'm with you. So, let's just be honest. When you walk in, in every bank or credit union that I walk into or have a conversation with, the first thing I want to ask them is, "Can I get you to do an analysis of the deposits leaving the bank or credit union?" And if you're listening to this podcast, you don't even have to wait for one of us, any of us in FinTech to come in and do this and ask you this question.
[00:13:48] Danny Payne: That way, I would tell you, "You should do this ahead of time so that you're prepared for the question that someone will ask you along the way. Where are the deposits going that are leaving your financial institution?" And I'm not saying this so that, you know, everybody that's listening to podcast is like lose, is losing sleep tonight thinking, "Oh, my Gosh, I've gotta go do this tomorrow.
[00:14:06] Danny Payne: Because, you know, Danny Payne said this on a podcast, and, you know, we haven't done this yet." But I think for those of you that haven't, it could be eye-opening to see how many transactions if you were just to base them, are leaving your bank or credit union for another app. Your bank or credit union may not be losing their deposit from the standpoint that that's where the direct deposit goes in the door, but they very well could be losing your, your transaction data because it's going to a, the money is being moved to another app where they're doing some type of transaction. And just like what Josh just lined out when he said it, you know, the folder with the financial apps in it.
[00:14:48] Danny Payne: Right? Do me a favor, when you're listening to this podcast, open your phone and start counting how many places on your cell phone require you to have put in your bank or credit card information to transact, to move some sort of funding over to that app in order to buy or purchase or do something that creates a money movement situation.
[00:15:09] Danny Payne: So, back to Josh's point, when you talk about first app status, if they've got 16, 17 apps on their phone, you know, from a mortgage processor to their Edwards Jones account, you know, all the way down to their Starbucks, how are they going to transact with you if they're doing all of that outside, you know, on, on all those different apps?
[00:15:33] Danny Payne: It's a struggle, and it's, it's not something that you're gonna be able to solve overnight. It's something that, you know, that, that every CEO, of every bank and credit union, they should be kind of trying to wrap their minds around a plan of, "How do I get these customers? What services can I offer my customers
[00:15:50] Danny Payne: that are gonna bring them back to me?" To Josh's point, this is not a sales pitch. I'm not, I'm not making a sales pitch for any specific product or service. I'm talking about the strategy for how you keep your customers and, and help the, service them in a way that they're using services that you're providing them.
[00:16:10] Josh DeTar: You know, Danny, that kind of tees up perfectly. One of the things I really wanted to talk to you about, which is, so going back to what we started with, right? This whole idea of coopertition. So, there's coopertition between us and, and by us I don't mean Josh and Danny, right, I mean, our entire industry of vendors supporting community FIs.
[00:16:28] Josh DeTar: But there's also a really important coopertition model between community FIs and the FinTechs in our space, right? And so, I think it's really important for us to talk through kind of these ideas of open banking and embedded finance because I think, Danny, you touched on something that's super important.
[00:16:47] Josh DeTar: I'm sure you probably read the same thing because if we're not all reading the same thing, like, when this podcast's over, you should go read this thing. And, uh,I was just reading through Ron Chevron's Cornerstone Report of kind of the summary of kind of their big case studies that they've done over the year and kind of his summation of those, in one of the areas that he talked about, it was exactly what you were just saying. Right?
[00:17:07] Josh DeTar: Starbucks wants your member to move a bunch of money from your credit union and load it into the Starbucks app because then there's one single interchange, right? And then, they can pay using their Starbucks app, and Starbucks actually gets to be a part of that process, and you're cut out.
[00:17:23] Josh DeTar: So, you got your one interchange, but now you're cut out of that deal, right? So, how do we start to look at the competition and coopertition in our industry in those terms? And what does that mean from, you know, open banking's kind of one direction, embedded finance is kind of another direction, so I'd love to get kind of your thoughts on that, Danny?
[00:17:45] Danny Payne: Yeah. I mean, so, there's a, a few different ways that I think that you can kind of help serve, that we can help serve the banks and credit unions to be able to deal with exactly what you just lined out. Again, going back to what I was talking about earlier, you are not going to be the intermediary between
[00:18:08] Danny Payne: me and my Starbucks app, right? I mean, like, like, you, as the bank, are not gonna stop me from putting my money and into my Starbucks app, and earning my stars for buying my cup of coffee. I mean, that's, we should probably give up on that fight right now 'cause we've lost. But I could probably start opening my phone and start going through some other apps and say, "Well, if my bank offered this and I could open that up inside of my, my bank or credit union app, would I go out and download another app to do that service?
[00:18:45] Danny Payne: No, I probably wouldn't." I mean, think, think about it this way, Josh. I mean, if you go back to the, go back to the early days of whenever we, you know, the, the fascination with, "Oh, my Gosh, I can pay all my bills on my online banking." You know, do you me, I mean, do you remember when, and again, if you're listening to the podcast and you, I know, surely you can reminisce to the days when, you know, when check free was just like the thing.
[00:19:12] Danny Payne: And you could go online, and I could load all my bills in there, and every month I could just go click, click, click, click, click, click, and they would all be paid. And then I could just do it all in one place. And then, "Oh, my Gosh, check free was embedded inside of my online banking." And, "Oh, my Gosh, I could just do this."
[00:19:26] Danny Payne: And it came right outta my bank account. I even had to load my bank information into check free, click, click, click, click, click. I paid all my bills at once, and there it was. Well, now that's an afterthought, right? And every bank or credit union will tell you in a heartbeat that, you know, bank bill pay is, you know, it's a, it's a, you just check the box with that, remote deposit, check the box.
[00:19:46] Danny Payne: You just, you have to be able to do those things, right? This idea of open banking and embedded banking, if, I'm not trying to, like, sugarcoat this, but you'd better start checking that box. Like, because there are too many FinTechs that are offering services for your users out there that can solve these problems for you.
[00:20:08] Danny Payne: You just gotta go out and find them. And then, what you have to do is you have to push your technology providers to embed them into your service so that your customer doesn't have to download 16 apps. It, it's just, it is what has happened to our industry in what I would call financial fragmentation, is that there are 25 different places to go do one thing, whereas you, as the financial institution, going all the way back to the core of what they were built for, is that I could walk in and you're gonna help me do all these different lines of business,
[00:20:43] it's just evolved. It's just evolved into an electronic version now, where you've got to figure out, "How I can extend the branch into that online world and offer those things to my users, to my members?"
[00:20:55] Josh DeTar: You know, Danny, this makes me think, this is kind of maybe a fun action item to give folks listening to this podcast, go to your phone and go open it up and go see how many you have. And, uh, when this podcast's released, I'll make sure, Danny, you and I should do a LinkedIn post, and we should do a poll, and we should see what the numbers look like.
[00:21:14] Josh DeTar: 'Cause now I'm super curious, and I think it'd be really fascinating if you are a community FI executive listening to this. Do that as a part of a staff meeting. Have everybody open up their phones and see just how many apps are in there. And I'm curious, you know, you gotta be a little bit careful getting people to share some of their, you know, personal information and choices and things.
[00:21:33] Josh DeTar: But I'd be curious to know if people shared what apps they have. You know, who the top contenders are, who is in the most of your own employees' phones? I think that'd be a pretty eye-opening exercise for a lot of people.
[00:21:47] Danny Payne: And, and you know what, you know what's amazing, is, it's the apps you don't think about, right? You don't really think about, like, financial management apps. You don't think about like, "Well, you know, I downloaded this Credit Karma app, you know, just because I thought it was cool to be able to check my credit score every other day." Or, you know, back in the early days, 10 years ago, I downloaded Mint, and I, you know, I went in there and gave them all my usernames and passwords, which I'm just like, "Ah." Now think about me going back and doing that,
[00:22:12] Danny Payne: now I'm like, "Ah." But then, you start thinking, "How many, how many different checking accounts do I have?" Right? I mean, I have reasons that I have a couple mult, you, I have a couple different, you know, account relationships. One for a nonprofit and one for, you know, our personal account that we have.
[00:22:28] Danny Payne: And then, one for account that I have for, you know, to make sure that I, that I have an account that's a, a Jack Henry customer, I mean those, those types of things. Here's the ones you don't think about. Every credit card you own, you probably have an app for every one of those. You have to load your banking information in there to pay your credit card, right?
[00:22:44] You might have, you know, with, with, hey, with the way that the Fed is moving money right now, you may have just a savings account out because you're just, you're moving money over to savings account to, you know, for high-interest yield. You don't think about health savings accounts as a, you know, as an account that you downloaded some for.
[00:23:01] Danny Payne: But, hey, most of us have HSA investment accounts. I know that crypto's not a popular thing to talk about right now, but you probably, probably.
[00:23:13] Danny Payne: And then, here's the one that really gets you, and this is the one that I think blew me away when I started counting the ones on my phone.
[00:23:19] Danny Payne: Mobile payment apps. How many people say to you, "Well, I can pay you, like, I can pay you square cash, I can pay you Apple Pay, I can pay you Zelle, I can pay you PayPal, I can pay you Venmo." And you're like, "Wait a minute. I have all four of those apps. I have all four of 'em so that somebody can pay me. Oh, yeah,
[00:23:34] Danny Payne: throw my Starbucks app in there too. That makes five." So, it adds up really quickly. And, like I said, the very beginning,I think I just mentioned to you, just talking out loud, if you go back and listen to the recording now, I probably just mentioned 15 apps right there. Am I gonna be able to embed all 15 of those apps into one service that the bank or credit union can use to solve all those problems?
[00:23:54] Danny Payne: Absolutely not. But can I put a mobile payments app in there? Yes. Can I put investment savings apps in there? Yes. 100% you could, you could go outside your phone financial institution and find a, a high-yield savings, credit-earning way to draw your members back to you. 100% you could find ways to draw your customers back into your merchant credit cards.
[00:24:18] And 100% you could have fin, financial management tools out there that you can embed inside of what you're doing. So, you can't solve it all, like we said, at the beginning, right, Josh? We said at the very beginning, we can't solve every problem that the banks and credit unions have. You can't solve every problem that your customer has.
[00:24:34] Danny Payne: You're not gonna make them not download apps on their phone. Sometimes people just download apps outta curiosity alone. But you can have your own competitive service that you can push your members, your customers to, to offer.
[00:24:49] Danny, I want to reiterate that, and I want to have you talk about that even more because I, this is a huge takeaway I want our listeners to have, right? Is, again, just like we talked about, you know, within the space, you know, you and I play in is, it relates to our whole industry. Nobody's gonna be all things to everyone, right?
[00:25:08] Josh DeTar: Like Chase, Capital One, they're still not all things to everyone, and they are gargantuan monoliths, right? So, you're not gonna be all things to everyone. So, you could, in theory, just try and throw the kitchen sink at this thing, right? And throw everything and anything at it. Well, we've gotta make sure we have a P2P.
[00:25:25] Josh DeTar: Well, we've gotta make sure we've got a bill payment, we've gotta make sure we've got an RDC. We've also gotta make sure we've got micro-investing. We've also gotta make sure that we do, you know, health savings accounts integrations, and we've gotta make, but does it actually make sense? Right? And how do you go back and identify what's actually gonna provide value to our account holders?
[00:25:44] Josh DeTar: Right? And I think that's a really important step that people have to identify is, you know, the world is really moving towards this idea of kind of hyper-personalization. And, you know, be really good at niche things. And so, it's a, I think it's a very important balance for community FIs to make sure they have enough things, that they're not so niche, that they narrow themselves outta the market, but they also can't just try and be all things to everybody.
[00:26:10] Josh DeTar: And I, and I recognize that. I'm like, I'm giving you a big problem without, necessarily, the solution, but it's a conversation I think that needs to happen.
[00:26:18] Danny Payne: Now, and I agree with you a hundred percent. I think it goes all the way back to what we said at the very beginning, Josh, when we were talking about the problem that the financial institution run into and the hard conversation that it is to have when you walk in, "Do the analysis, find out where the transactions are leaving you.
[00:26:33] You would have a better understanding of the DNA of your customer base by looking where they're moving money versus sending out a straw poll and asking your customers what are important." Because if you understand the analysis of where, where the money is leaving your bank or credit union, and what apps or what services they're pushing the money to, where those deposits are leaving the bank and going, it will give you a tally mark of the top five things that your financial institution should be concentrating on of what embedded services you should be bringing in.
[00:27:08] Danny Payne: I mean, think about, just to take a second and think about, like, going through the PPP process and how so many community banks and credit unions stepped up to serve small businesses during that period of time. And now, think about where we are now and how the digital service that these banks and credit unions provided have, they've allowed them to go well beyond the geographical limits of where we were, you know, pre-COVID.
[00:27:37] Danny Payne: These where our branches are, this is the locations that we service. And because of that, you, as leaders of banks and credit unions, are now being stressed to figure out, "How do I attract younger generational customers, and how do I service these new geographical limits that have been created by me, by people downloading our app and living far, far away from branches?"
[00:28:01] Danny Payne: So, again, follow the data. The data will tell you, you know, which, you're right, you can't boil the ocean, but which one of these services are the most important ones? And I, I think that, with the right technology partners, you can find those services and solve those problems for your customers.
[00:28:20] Danny, I wanna come back to what you were talking about, about geography. But, you know, real quick, using that example you were talking about too, of just like, look at the data and, and then make some informed decisions on that, that doesn't even have to, you could definitely take a kind of a crawl, walk, run strategy to this.
[00:28:36] Josh DeTar: Right? And I think I've used her as an example before, but, you know, this is not even one of my customers, it's just a, a small local credit union that I've become good friends with their CEO. We seem to manage to end up on flights together from things like GAC all the time. And, um, it's Terry from Ironworkers Credit Union.
[00:28:54] Josh DeTar: And, you know, they have a, a closed seg credit union that services ironworkers, and she said, she's like, "My boys, they love their bikes." She's like, "They love to get them some Harley Davidsons." And she's like, "One of the things I started doing was..." She's like, "I'm a tiny credit union, I don't have a ton of resources.
[00:29:14] Josh DeTar: I don't have a bunch of sophisticated systems." But she's like, "I can go in and pull an ACH report outta my core and go look and see where's some of this money going." And she goes, "And I just look, and I look for members that have payments to Harley Davidson Financial." She's like, "I know they're predatory lenders."
[00:29:30] Josh DeTar: She's like, "I know they've got ridiculous rates on my members all the time." She's like, "It's not uncommon for me to call one of my members, and they've got a loan on a bike that's 25%." And she's like, "I'll call 'em up and be like, 'Hey Jim, do you know Credit Union will give you the loan on that bike? Our rate right now is, like, 6% for you.
[00:29:50] Josh DeTar: Do you wanna move that? You'll save 200 bucks a month on your bike payment?'" And she's like, "I can't tell you how many times I've had members break down in tears and be like, 'I was gonna have to give up the bike. I couldn't afford it. And this literally changes everything for me. Like, you gave me a chance to keep my bike.
[00:30:04] Josh DeTar: Like, that's pretty cool.'" You know? So, when we're talking about going in and looking at this, it's not even just from a competition perspective and, and how you need to approach, you know, looking at embedding different FinTechs or things into your apps, it can even just be helping you to understand what are the pain points and things that your members need, and where do they need some help.
[00:30:25] Josh DeTar: And so, like, follow the data is a really important strategy, like across the board.
[00:30:31] Danny Payne: Yeah. And I mean, you just like, you completely read my mind of what I was gonna say next by bringing up that example. 'Cause I, I had written, after I said follow the data, I had written down a little note to mention. So, I don't know if you're familiar with a company called Merchants Pack, it, small company.
[00:30:46] So, they do something similar to what you were just talking about, except for instead of analyzing the interest account information on loans that members have, they actually go in and look at all the small businesses and say, "Hey, what's the merchant card processing rate
[00:31:03] Danny Payne: these small businesses are paying? Are there third parties outside of the financial institution, outside of your financial institution?" And what they end up finding out is, you know, the financial institution goes and they sign a merchant acquiring, or the merchant processing agreement with whatever merchant processor will, will deal with the small businesses every time they wanna sign up to take credit cards and they kind of get locked into a rate.
[00:31:24] Danny Payne: And it's just, you know, it just goes, right? That's just how the business runs. What Merchant Pack does is they go in and say, "Hey, look, you are paying this, your small business is paying that plus X. Did you know that, like, there are rates that are significantly lower out there for these small businesses that are struggling right now, by the way, to be able to accept credit cards?"
[00:31:46] Danny Payne: And it's, to the same point you just made is, like, these small businesses, like, or the banks first are like, "Oh, my Gosh, do you know how much, how much this will help me with my small businesses that are asking me to help them? But do you know how much this will in turn help the small business be able to have a, a better, end of the day, take home of what they're doing because they're not paying as much on credit cards?"
[00:32:06] Danny Payne: So, back to, that's a long story, and I'm not trying to plug a certain product over one or the other. I'm just telling the story from a standpoint of, what they do best, and what's most amazing about watching their process is they a, all they do is they put the data up there, and they tell the bank or credit union, "Follow the data."
[00:32:24] Danny Payne: Because if you follow the data, the data will usually tell you what the trends are, what your customers are dealing with, and how you can better help them. So, it's the two examples that you and I just talked about or all the way back to what we talked about at the beginning with, you know, an embedded services.
[00:32:40] Danny Payne: There's so much out there right now and it's moving so fast that I feel like that there's opportunities we just kind of have to, we, as financial service providers, we have to get off the mat and help our partners in the bank and credit union space.
[00:32:55] You know, along those same lines too, Danny, I think data also helps us to avoid some of those sacred untouchables, right? Because the data doesn't lie.
[00:33:08] Josh DeTar: Like, the data's gonna be impartial. It doesn't care if it hurts feelings. And I think a lot of times we see that in our industry where we're like, you know, kind of what you were talking about earlier,
[00:33:19] Josh DeTar: "Well, no, I mean, you know, there's only one app on my member's phone, and it's ours." And then you open up the phone, and you're like, "Well, there's actually 37 of them." And you are number 34, "Sorry." Like, and even just, you know, ways of doing things like, "Well, this is how we always do it, and we're, we're kind of sacred to those things."
[00:33:36] Josh DeTar: The data helps us to make decisions that make us a little bit more impartial, I think, too.
[00:33:41] Danny Payne: Yeah, I completely agree. And I, and I think that we are creatures of habit. And just like the people that have worked for FinTech companies for 30 plus years and people that have worked for banks and credit unions for 30 plus years, you kind of get into a groove, things work,
[00:33:59] you know, why would we change that? It's painful to change. Listen, we, as humans, we don't like change. I mean, we just don't embrace the idea of, "Hey, this may hurt a little bit. I have to do it a little bit different." I mean, there's a reason why in the, in the, in the world of FinTech, Josh, that we, we make the joke when we're talking about banks and credit unions that this conversion aversion, right?
[00:34:21] Danny Payne: Like, you know, no matter how bad they want us, it's, they're dealing with conversion aversion, right? But the truth is, is that sometimes I, this is something I always tell my kids, like, "Is this a situation where there's short-term pain for long-term gain?" And I think that's where, I really think that's where we're at
[00:34:40] Danny Payne: a, we're at a branch in the road right now. You know, there's, in the history of the United States, there are less financial institutions today by account of five to six times than where we were just 10 or 15 years ago. And those survivors, right, those that are, that are out there servicing in the community space right now, I, I feel like we, in the financial technology world, we owe them to give them the very best to help them continue to be successful.
[00:35:12] Danny Payne: I mean, I just feel like that is the service that we are em, employed to provide them. This isn't about selling one product over another. This isn't about who's best. It's about making sure that we are giving the products and services that are the best and that can help in the best way to our banks and credit unions.
[00:35:35] Danny Payne: Because, as a whole, aren't we better as a country when the credit union world and the, and the community bank world is thriving? I mean, I feel like those are the institutions that step up when we hit a crisis. So, it might sound a little bit cheesy for the purposes of this podcast, but it's the truth.
[00:35:54] Danny Payne: I mean, just go back a couple years. I brought it up already, the PPP stuff, but who was it lending? Who was it saving community banks? If you don't know who, uh,you know, who these leaders were out there on the community bank and credit union side that were pushing the envelope to get those loans out to save these small businesses,
[00:36:12] you know, to me, that's, that's the market that we serve. And I think that it's so important that we continue to, to have conversations like we're having today to make sure that I don't, I mean, again, sounds super cheesy, but to make sure that you know that we hear you, I mean.
[00:36:27] I was thinking about this actually a lot when we were talking about your intro, right? And I'm gonna put words in your mouth, and then you can tell me if I'm on point or not here. But, you know, I feel like you're maybe a few steps ahead of me in this, but it was something that was really important to me before.
[00:36:46] Josh DeTar: And then, when I became a parent, it wasn't that it became more important, but it just became more apparent. Like, it is so incredibly important to me now. Like, I don't wanna leave a, a useless legacy to my son. I wanna leave him in a world that's better than, you know, what
[00:37:02] Josh DeTar: I got it. And my dad wanted to leave it a better place than he got it. And I'd like to think that that's all of our kind of goal, right, is we wanna leave the world a better place. And I agree, man, it sounds super cheesy, but, you know, when you were talking about look, like what do I want somebody to know about me?
[00:37:18] Josh DeTar: Like, I'm a family man through and through. Like, I care about the success of my kids. I care about the success of my wife. I care about the family as a whole and a part of that. Look, finances plays a huge part into the role of families today, right? And not just families but just individuals. Just people, right?
[00:37:35] Josh DeTar: So, if we're working together as an industry to make sure that the good guys win, right? And, like you said, the people that step up in times of crisis, it's really easy to look good when times are going good, right?
[00:37:50] Josh DeTar: It's harder when your feet are really put to the fire. And that's where I feel like the community FIs that we service, that's where they shine.
[00:37:58] Josh DeTar: So, we wanna make sure that when the good times are good, and people are like, "Ah, I don't need that awesome credit union, I can go dabble around in other things." That they stay with the credit union because they're gonna need 'em when times get tough. And I don't know, I, I agree with you that I feel like as people who, you know, those types of values and things are important to us, I think that's why we get so, you know, cheesily passionate about this industry.
[00:38:21] Danny Payne: No. I, I mean, listen, you know, you, you said it in my intro. Like, I, you know, I've kind of followed, tried to follow in the footsteps of my father and being, you know, like a nose to the grindstone, you know, blue-collar type of person. And I can remember the first time my dad brought home a, a Pentium 286 processor.
[00:38:38] Danny Payne: And I remember thinking, "Oh, my Gosh, we have the most up-to-date computer anybody's ever owned." And I remember, within 12 months already, that next Christmas, there was a 386, and of course, what did my dad do? He went out and got it, right? I mean, we, it was just like iPhones today, right?
[00:38:54] Danny Payne: We had to, we, you had to upgrade every year because everything would grind to a halt on these processors because the software was moving so fast you couldn't keep up with it. The moral that story was, is that my dad, he put something in there because he was giving me something during that time that I would take with me for the rest of my life.
[00:39:13] Danny Payne: He wanted me to understand like, "You are gonna have to learn how to use this stuff. You're gonna have to be able to take this with you and feel comfortable, you know, messing around with computers and, and software." And, and I'm not a software technician, nor am I an engineer or any of those things, nor did I ever want to be.
[00:39:30] Danny Payne: But if somebody, you know, somebody in my house says, "Hey, Danny, this doesn't work on the computer. Can you fix it?" Other than saying, "Hey, restart." Like, I actually can get in there and start, you know, messing around with it and help them. What moved past that for me was, is that my dad stayed passionate about that even as he got older, and he, it is almost like it flipped, right?
[00:39:50] Danny Payne: He started wanting to learn from me as I got into the technology world and saying, "Hey, make sure you don't let me get behind on this. I wanna know what you are doing." I want to do that same thing for my children, which is not to say, "Hey." I'm not gonna be so old fashioned as to say, "Hey, son, we're gonna go over to the bank, and we're gonna open a, or the credit union and we're gonna, we're gonna open a, a shared draft account today and I'm gonna, we're gonna sit here and fill out the paperwork."
[00:40:15] Danny Payne: Actually, I'm the opposite. I wanna be like, "Hey, I'm gonna show you how we're gonna go online, and we're gonna do an online account opening when you turn 16. And I'm gonna show you how to take your paycheck and get a direct deposited. You may never, ever have to walk into the branch because of the cool technology stuff that, you know, dad and his friends do.
[00:40:33] Danny Payne: This is cool. Like, this is the next generation of financial technology. But, oh, by the way, here's my favorite part. If during any part of this process you having a struggle, all you have to do is go down the street because there are people that work in these branches that will help you finish this process."
[00:40:50] So, I'm very passionate about not just the experience for members or users on a bank accrediting spite, I'm passionate about making sure that we're helping our banks and credit unions be successful out there for the next generation of users. And we're not moving towards a world where everybody's opening a bank account through Google or Amazon or something else.
[00:41:12] Danny Payne: And that, you know, that's the legacy I don't wanna leave behind. I don't wanna say we didn't do enough to help our banks and credit unions be successful in the market that they're competing against.
[00:41:21] Josh DeTar: Yeah, I have nothing to add. That's exactly well said. You know, as much as I know we could, and I would love it, you know, I, I, I think we could go on the love fest forever of that and why we're so passionate about that. But, you know, I wanted to go back to one of the things that you had mentioned earlier because I think it's kind of relevant to this conversation in geography, right?
[00:41:42] Josh DeTar: And I think, again, you know, I, I probably, you know, give him a lot of shout-outs, but it's, uh, you know, without due cause, in Ron's Report, he was talking about how a lot of, you know, community financial institutions are really, quite frankly, still stuck in this idea that they service a geography and that is unique, and geography's no longer unique.
[00:42:01] Josh DeTar: It's just not. America is the greatest melting pot in the world. We have so many different people, from so many different walks of life, with so many different views, opinions, perspectives, thoughts, ideas, challenges, struggles, and they could all be on my street, let alone if you look at my community as a whole, right?
[00:42:21] Josh DeTar: So, geography is not the great differentiator that it once was. And just saying that I serve my community in this geography and that therefore makes me unique enough that I should deserve your business, it's just not gonna fly anymore. And so, how do we have to think about solving that with digital?
[00:42:41] Josh DeTar: Because digital is the way that we kind of break the barriers of, you know, geography. And I think that was what you were kind of alluding to from earlier, right?
[00:42:49] Danny Payne: Yeah, you know, again, it would be really cool, and you were talking about surv, you know, putting, putting up a survey on LinkedIn, another survey I would really love to come off this podcast would be, you know, how many, how many, um, of our community banks and credit unions out there have at some point, since COVID, even just in a boardroom meeting, talked about the idea of a secondary brand of their bank or credit union
[00:43:14] Danny Payne: that's just a, a mobile lonely version of, you know, what they're doing to be able to expand outside the branch and offer their, a unique set of services out to what we were talking about earlier, a bigger geography, younger generation, those people that you just know they're just not coming into the branch.
[00:43:32] But you can expand your footprint, as a financial institution, and get outside of your standard geography, but still service in a way, and still provide those same, you can still provide your same level of service to those people, even though they, they're not within fifty or a hundred miles of the closest branch.
[00:43:53] I actually, this was not on purpose, but I actually posted something on LinkedIn yesterday. I, it was, it was kind of as a joke, but I wanted to, I wanted to see what kind of feedback I got from it. I was driving my son to a basketball tournament. It was in rural Kentucky, which, for all of you all that you are listening to this and don't know what that means, is two-lane Highway for a long time.
[00:44:16] And on this trip, I think we passed five or 6 Dollar General stores. And, again, if you're on this podcast, you don't know what a Dollar General store is, it's like a little, I wouldn't call it a market, but it's almost like a place you would go that has everything, everything from small market groceries to cleaning supplies, to, I mean, just, just everything in one spot, right?
[00:44:38] And then, I started, I went back and did my research before I did the post. And I thought, it was only just a couple years ago that Dollar General, like, bet on themselves and said, "Look, we're gonna pull a bunch of Dollar General stores out of these big, like strip mall retail locations and we're gonna build, brick and mortar, Dollar Generals out everywhere.
[00:44:57] Danny Payne: Like, we're gonna put them out in all these locations where, you know, the closest grocery is maybe 30 or 45 minutes away. We're gonna drop a Dollar General there." And I started thinking to myself, I was like, "Is It, could that be the next iteration of like how community banks and credit unions could, like, save the branch?"
[00:45:15] Danny Payne: And don't call it a branch, almost call it a service center, which is an extension of your digital footprint. You don't, you don't staff it with 15 people, you don't have teller lines, you don't do all that stuff, you actually put something out there that gives them the opportunity to say, "Hey, I'm servicing you from afar with all these cool digital features.
[00:45:34] Danny Payne: But if you need, if you need help or you need to come close a loan, or there's something you can't finish through this digital brand, there's a..." Some, some terrible branding way to put this, but, "There's a Dollar General store near you." I know it's crazy and wacky and way outside the lines of what we're talking about right now, but I put it out there, and I was actually blown away at how many people kind of
[00:45:54] Danny Payne: didn't make fun of it and responded to it and said, "You know? That's not crazy. And I do feel like, again, when you're talking about the world of survival for our banks and credit unions that we're gonna have to start thinking outside the box. And when you're talking about how do you expand geography, to your question, I'm, I am, I promise I'm getting all the way back around to it.
[00:46:13] Danny Payne: But when you talk about expanding geography, I always try to remember as much, I live the world of digital banking, but as much as I live it, I never wanna lose the human touch. If Ron Shevlin listens to this, you know, he, he always likes to battle me on social media about, you know, why I'm so tied to the fact that chatbots can't take over the world.
[00:46:31] And I love you, Ron, but I never want to lose that, that customer touch that the human aspect of it has, it can be done through digital. You can have a human touch through digital. But, anyway, my expansion idea with Dollar General stores, just, you know, it started here first.
[00:46:48] Josh DeTar: Well, okay, this is hilarious that you actually use that exact example. So, literally, Danny and I had to move this podcast to today because I ended up having, getting stuck doing a, a crazy drive through Western Massachusetts up to Upstate New York from Boston and back. And so, two things, I, one, I was going there for a customer go-live, that I want to touch on in a second.
[00:47:13] I think this is hilarious, Danny, because as I was driving back to Boston yesterday, it was daytime this time, and snow was off the roads. So, I was able to, like, pay attention a little bit more to my surroundings. I was like, "This beautiful countryside, but there's nothing." I mean, nothing. I would see no cars for half an hour and then a house here or there.
[00:47:37] Josh DeTar: But you know what I saw a ton of? Dollar Generals. That's stuck with me, and I was like, "That's so crazy." I was like, "There's a Dollar General out here." And we don't have those on the West Coast really. Or if we do, I don't, I'm not aware of 'em, but it was prominent enough in the middle of nowheres that it stuck with me.
[00:47:53] Josh DeTar: So, it's just hilarious that you use that example. But, you know, to your exact point, I tend to agree with you, you know, and when I had Ron on the podcast, he and I kind of talked about that a little bit too. That, look, I think that we can get to a point where the extremely large majority of things are done digitally, but there's something about that human element.
[00:48:14] Josh DeTar: And so, where I was going with this, with, you know, I was there for a customer go-live. I was there for a credit union that their CEO, and I, have never met him in person. We started the whole pre-sales process and everything through COVID, all of this just never worked out. We've never met each other in person.
[00:48:32] Josh DeTar: But, like Ryan and I, you know, hopefully, he doesn't disagree with me on this podcast, but, you know, I feel like we've gotten to kind of this friend level, and Ryan and I text back and forth all the time. And so, we have this awesome relationship, but I'd never met the man in person. And when I finally met him in person earlier this week, it just, there was something to it, and I was like, "You know what?
[00:48:51] Josh DeTar: I felt like Ryan, and I had become really good friends. We talk really openly with each other. You know, he knows to come to me. I go to him." But it went to a whole nother dimension when I got a chance to actually just sit down, shake the man's hand, have a conversation, look at him in the eyes without a screen in between us, you know?
[00:49:09] Josh DeTar: And so, again, I'm like you, I'm like, I promise there's a point to this, you know? My point to this is, is that I agree. I think that there is some element of, I don't think branches can ever completely die. I really do believe that even as this society evolves to be more and more digital, I don't know, I guess maybe, lemme put it a little bit differently, maybe we do get to the point where branches aren't necessary.
[00:49:34] Josh DeTar: But I don't know if I love the idea of that world, because that kind of tells me that we've lost the desire for human touch. So, I don't know. I'm, I'm with you. I wanna support this industry, but I don't want to kill branches because I don't want to be a part of this revolution where all we ever do is interact digitally and with robots.
[00:49:53] Josh DeTar: I don't know, I still wanna look people in the eye and shake their hand.
[00:49:55] Danny Payne: I think, I mean, you could probably do a whole different podcast of somebody who knows a whole lot more about, you know, the economics around brick and mortar and, and what that all means. It is just not me. But I will tell you, I think there can be an evolution to the branch that you changed the experience for the consumer where they can come in almo, and you could almost train them in person on how they could use customer service tools that are being offered. With the right technology branches could be an extension of almost a chat call center for your, for your customers. I mean, if you, if you have a conversations tool that's built into your service, I mean, I could be sitting right here, right now, and even though there's a branch down the road, right?
[00:50:35] Danny Payne: I could be having a conversation from my phone with that person, at that branch that's helping fix those problems. It could eventually them say, "Hey, you just need to come to the branch. We're gonna finish this." But most of it I might be able to get done over my phone. I agree with you a hundred percent about the personal touch.
[00:50:51] Danny Payne: I think that, I have two feelings about this, I think number one, the desolation of COVID accelerated the need for us to have screen share, tons of digital evolution quickly. Like, it just advanced what we had to have for, for our banks and credit unions on the digital side, you know, by a couple of years.
[00:51:12] Danny Payne: I also believe what it did, though, is help us, as human beings, understand how important human touch is. Because you and I, I said this to you when we ran into each other at Financial Brands, "It's good to see you." Like, shake your hand, talk to you. And I had, and I talked to banks and credit unions all day, every day.
[00:51:34] Danny Payne: We still use Zoom, we still use Teams, Google meet, all that stuff. There's nothing like the opportunity to talk to someone in person, even at a conference when they only have 15 minutes because they're, you know, they're passing by to see you to the next person. Because you move on past, the process of being on Zoom has turned into so much, like, "We have one hour, we gotta get this done in one hour."
[00:51:58] Danny Payne: Right? And you have some early on, "Hey, let's talk about our kids." Or whatever, at the very beginning. But then it's like, "We gotta get to work, we gotta get this done. We only have much, so much time. We gotta move on." The difference is it, in person is you still have that opportunity to share stories, talk about what's happened today.
[00:52:13] It just, it allows you to still be a person. And I agree with you a hundred percent. I think if you, I think that branches can be augmented, but I don't think you ever wanna lose the ability to give that human touch to someone because everybody has their own situation. And it could be a struggle, it could be, you know, buried in NSF fees.
[00:52:36] Danny Payne: There's some, there could al, somebody's always gonna need someone to help them, outside of, "Hey, we're gonna text about this or talk about it on the phone." So, anyway, belabor that point to Dan.
[00:52:46] Josh DeTar: Yeah. I do agree, and I think that that is an important point that sometimes we do lose sight of when we talk about wanting to do so much with digital. And, yeah, same thing, on this exact trip that I just got back from I turned myself into a, running through the airport to my gate because I'm just about to miss my flight because, you know, I took literally, like, 20 minutes to go and have coffee with one of our longtime customers, one of the people from the credit union.
[00:53:13] Josh DeTar: And she and I just have a, a pretty deep shared personal experience stuff. And, honestly, Danny, like, I just needed to give her a hug. You just can't do that digitally. Like, there's no equivalent of, like, the hug
[00:53:25] Josh DeTar: digitally. That's just, you know, that real and raw. And so, yeah, I agree. I think we need to augment, we need to find ways to make processes more efficient and be able to do more with our time through digital services.
[00:53:41] But, yeah, I don't know. It's a pretty sad state, like, if we never give another person a hug, you know?
[00:53:45] Danny Payne: No, I mean, listen, we're, like I said, I've said it, I, I might have said like 10 times already, we're in the business right now and making sure that we are servicing our banks and credit unions with every digital product and service they need to best serve the, the members of the credit union.
[00:53:59] Danny Payne: And I actually, I, when I was at Financial Brands, I had this conversation twice with people. I said, "What we do, by providing you more services through a digital channel, is not to put your customer service employees out of a job. Like, it's actually to embolden them to be able to do more for those customers that are trying to interact with you from a digital standpoint."
[00:54:20] Danny Payne: So, listen, human touch can mean a lot of things. It doesn't have to mean human touch from a hug. Human touch can mean actually having a human touch in the way that your, you know, the way that your digital process touches your customers. So, you know, I, again, it goes back to what we've said over and over during this podcast, what community banks and credit unions do for their members and for their customers,
[00:54:43] Danny Payne: it's just different. They're built different, they have a different motivation. They are striving to serve in a different way. And I just feel like it's our job to continue to serve them that way too.
[00:54:52] Josh DeTar: Yeah. Well, you know, and going back to something else you were talking about earlier, Danny, I think, it's important for each community financial institution to have, you know, their own strategic objectives and their vision around that and what that means. Right? And don't be afraid to experiment with it and test it understand that their own consumers may differ amongst themselves.
[00:55:13] Josh DeTar: You know, I'll give a, a shout-out to an actual mutual customer of ours and Jack Henry's, Chevron Credit Union, right? So, Chevron actually has a sub-brand spectrum that's a digital-only presence. And so, they have the traditional flagship Chevron Credit Union and then a 100% digital kind of experiment box, right?
[00:55:33] Josh DeTar: And I think that's one of the things that our community FIs are gonna need to really start taking a look at is, you actually have the opportunity to compete extremely well in technology, but you're gonna have to think about how you do the budget for that. But you know, that small credit union that went live this weekend in Upstate New York, Ryan, the CEO, made a comment to me there, and he said, you know, they rolled out savvy money, and he was like, "We're already getting such good reception from members.
[00:56:02] Josh DeTar: This is such a cool product. This is so neat." And he is like, "I've only seen this from really big credit unions in our area." And he's like, "Here I am, little, tiny, under a hundred million dollar credit union, and I'm rolling out savvy money." And he's like, "It's just because we looked at allocating budget, and rather than me saying I'd rather do a huge branch update or build another branch, I said, 'You know what?
[00:56:21] Josh DeTar: I wanna give a really cool service that is gonna provide value to my members digitally.'" So, I think there's gonna be a lot of that kind of figuring out your strategic vision and then executing on what's important to you.
[00:56:33] Danny Payne: Listen, if you're a bank or credit union CEO, you have a hard job because all the money and deposits right now that sit in your bank or credit union probably, unless you're a niche or untraditional, are probably sitting in a baby boomer's accounts, right? So, with that idea, you have to have a technology that serves,
[00:56:51] Danny Payne: it's simple enough to serve the baby boomers that you have in your account if they're, if you see that they're downloaded or using your online banking or mobile app. The same stretch of that is, is that you have to move on between the Gen Xers and the Millennials, and the Gen Z’s, and understand that the shift of wealth is going any other direction, right?
[00:57:09] Danny Payne: You actually have to figure out, "How do I service my baby boomers carefully and still have something slick enough that the Gen Zers will go, 'Yeah, I'll use that app. Yeah, I'll do, I'll do business at bank.'" It's, listen, it is the biggest differentiation in services that probably as a bank or credit union leader you've ever been asked to do. Like, you have never been asked to be stretched further to service two so very different markets.
[00:57:37] It's not easy. It, it is not easy. And, and, again, going back to what we keep saying over and over, I feel like we in the, in the FinTech world are trying to do the very best to help you do that.
[00:57:49] Josh DeTar: You know, Danny, I think, um, if anybody listening to this podcast wants to sit around the fire and make s'mores and sing Kumbaya with you and I, I think we're totally down, right?
[00:58:00] Danny Payne: Oh yeah. I'm a, I'm a mushy, crybaby, Kumbaya guy.
[00:58:05] Josh DeTar: I think it's very apparent throughout this whole episode that you're just, you're a really genuine person, and I, I really value that, Danny, and I really appreciate opportunity to have you on and just talk to you, you know, one-on-one and give people an opportunity to listen to our conversation.
[00:58:19] Josh DeTar: And, and I really do. I think, I don't want to, again, belabor this point too much, but I really want people listening this to hear just how important this cooperation model is. And I, and I hope that this is an example of this. So, Danny, again, I just, I want to thank you so much for coming on and being a guest on this podcast.
[00:58:38] Danny Payne: Hey, I appreciate the invite. And, you know, it goes both ways. You didn't have to invite me on. And you know, the openness of what we're trying to do in allowing, at the end of the day, all I really want is to make sure that the banks and credit union are best served by whatever technology they need.
[00:58:56] Danny Payne: And sometimes that's gonna be my stuff and sometimes it's not. But at the end of the day, it's, the most important thing is that they're getting what they need to service their, their users.
[00:59:04] Josh DeTar: I agree. Well, Danny, before I let you go, I got two final questions for you, sir. Where do you go to get information to stay up to date on what's happening in our industry?
[00:59:12] Danny Payne: All right. So, I am like one of those all day logged into LinkedIn, like refresh people. And so, I can't tell you that there's only one person that I just, you know, I only listen because I just constant, I'm just a reader all day. My wife thinks I'm addicted to it. It's not true. I tell her, it's just part, like I tell, I try to explain to her like, if I was a sportscaster, like, I'd have to watch sports all day, right,
[00:59:32] Danny Payne: to be able to talk about it. So, LinkedIn, I follow a ton of people on LinkedIn. I do follow pretty much everything that Ron and Cornerstone puts out there. I think they do a great job. Ron and Sam Kilmer are great follows, for me. I do follow a lot of what Financial Brands and Jim Marks puts out there.
[00:59:48] And, you know, in an odd off, I really love following what Wade Arnold puts out there if you don't know Wade and what they're doing at Move, great, great information. If you want an alternative understanding of what's going on at payments.
[01:00:01] Josh DeTar: Awesome. Thanks, Danny. It's good advice. And then, uh, if people wanna learn a little bit more about Jack Henry and wanna maybe connect with you, how do they do that?
[01:00:09] Danny Payne: Yeah. So, you know, it's, become much easier recently if, I mean, if you haven't heard, we've had a, a new branding at Jack Henry. So, it's all one Jack Henry. You only have to go to one place, and it's at jackhenry.com. So, very easy to find. And it's all in one location. There's no more multiple websites or multiple brands.
[01:00:25] Danny Payne: It's just all in one place.
[01:00:27] Josh DeTar: Makes it easy. And then, what about if they want to connect with you, Danny?
[01:00:30] Uh, if you wanna connect with me, we'll post email address. Everything is, will be on there for you to get a hold of me. I'm an easy follow on LinkedIn or Twitter, but yeah, you can, you can find me on all those forums.
[01:00:41] Josh DeTar: Awesome. Thanks again, Danny. Like I said, I mean, I just, I really see you as one of those people that is just the genuine real deal. And I can't stress enough the comment you made earlier, the feeling was mutual you were the very first person I ran into when I landed in Vegas for Financial Brand.
[01:00:59] Josh DeTar: Danny sees me from the top of an escalator and comes running down and was like, "It's good to see you." And I think there's no truer statement. It's just good to see people like you that are just so genuine, so passionate, and really care about this industry. And I appreciate the opportunity to both collaborate and compete with you.
[01:01:15] Josh DeTar: You're good guy, Danny.
[01:01:16] Same here, man. I mean, same to you. And just keep, keep doing the good work in the market. Love you, love following you on, uh, social media and, uh, you know, just keep updating us on your footwear as you move around the country.
[01:01:28] Josh DeTar: Will do. All right, Danny, again, thanks for being a guest on the Digital Banking Podcast.
[01:01:36] Danny Payne: Thanks for having me.