Banking On Change with James Robert Lay
This final season of my show is going so fast, and I only have a little over five months left to share with you the remaining topics and guests before we say our final goodbye in October. You know that I have had a theme for months, but every now and then, I take a break from the theme to bring a voice or concept to you that I think is thought-provoking or important.
Joining me today is James Robert Lay, founder of the Digital Growth Institute and author of the book Banking on Change. I have had multiple conversations with James Robert over the past few years and think he has a truly brilliant view of where financial institutions need to go and how many of us, as leaders and teammates, should be viewing change and how that impacts the future of our companies. This episode is a conversation I don't think you should miss, no matter what industry you work in.
What are we drinking?
James Robert – Homemade Sparkling Water
Shannon – Black Cherry Schweppes
Podcast Notes
A Vision for the Financial Services Industry
James Robert is a visionary in the financial services industry. James Robert began his career playing in a punk rock band during college. Encouraged by his girlfriend (now wife of 18 years and mother of their four children) to try something new, he started his design company.
His company started with web development for credit unions and expanded to other services. His goal is to help both financial institutions and their customers. James Robert believes in the transformative power of coaching and has dedicated his career to guiding financial services through necessary changes.
Hope must come before help, and greater change in the world starts with individual development. Navigating the complexity of change is easier for some than for others. Some people embrace and love change, while others need a little extra help.
Personal change starts with shifting your perspective. When you see things differently, you begin to think and act differently. You need the desire to make a change and the desire to continue to take action. James Robert believes that coaching bridges the gap between thought and action.
The foundation of every positive relationship is respect. This principle applies to businesses as well. Companies should focus on helping first and selling second. Trust is built on words and actions.
Change, Technology and Human Connection
Change is inherently challenging, but it's essential for growth. James Robert emphasizes that human transformation is the key to successful change, whether working with brand leaders or individuals.
Shannon believes the financial services industry needs to shift from selling products first to providing genuine services that meet clients' needs. In a time when human connection is needed the most, businesses are moving further away from human engagement.
Navigating change can be complex, but it becomes more manageable with the right mindset and support. James has experienced major pivots in his career, including adapting during the COVID-19 pandemic. It's not about avoiding those challenges but learning how to work through them and continue.
In today's digital world, balancing technology with human interaction is crucial. James highlights the importance of face-to-face engagement alongside digital solutions. Technology is a fantastic tool, but we can't rely on it for every aspect of business or life.
Final Thoughts
One core value at Financial Gym is empathy, a principle James Robert also advocates for in the industry. Understanding the emotional side of money can lead to better client relationships and overall outcomes.
James Robert outlines four steps for human transformation: seeing things from a different perspective, fostering hope, nurturing the desire for change, and taking consistent action. Coaching bridges the gap between thought and action.
He stresses the importance of empathy, respect, trust, and love in building positive relationships. Financial institutions have a tremendous opportunity to create value and build client trust.
If you're a business owner, understand that transforming employees' financial and mental well-being can lead to broader positive shifts. Addressing financial anxiety and supporting employees can lift the overall organizational performance. When you transform your money and mindset, other areas of your life will improve.
It's so important to address the fear and anxiety many people feel around money. Although money is a taboo topic in most cultures, it impacts our lives every day, and we need to become more comfortable with it.
Takeaway: My biggest takeaway is the is the importance of seeing and being a part of the change that a company needs. After 11 years in my seat as CEO, the best lesson I’ve learned is the value of change and flexibility no matter what stage a company is in.
Random Three Questions
If you were given $20,000 for travel, where would you go?
What is something you’re currently binging?
What do you do to relax?
Resources Mentioned:
Connect with James Robert
Website: https://www.bankingonchange.com/
Podcast: Banking on Digital Growth with James Robert Lay
X: James Robert Lay
LinkedIn: James Robert Lay
If you have any topics you would like me to cover on this podcast, or if you’d like to get in the financially naked hot seat, I encourage you to email me at Shannon@fingyms.com or join the private Martinis and Your Money Facebook Page, and let me know what you want to hear.
As many of you know, other than running this podcast, I’m the founder and CEO of The Financial Gym, and we are celebrating 10 years of this journey. Now more than ever, I see the importance of the work we do every single day. Rising inflation, the return on student loan debt, high-interest rates on loans and mortgages, and volatile stock markets make it a time where, now more than ever, you need a best financial friend to help you make the best choices along the way.
At Financial Gym, you get paired with a Certified Financial Trainer, who we call your BFF. Our team has coached clients through every financial season, whether they were living paycheck to paycheck or headed into Financial Independence and Retirement. As a reminder, we work with individuals, couples, or business owners.
The exciting news of 2024 is that Financial Gym now has a sister company, FG Advisory Services, available for people looking for more traditional financial advisory services like asset management delivered by a team that looks and behaves nothing like a traditional financial advisory services company. We literally have a solution for you, no matter where you’re starting from. So what are you waiting for? Head over to or send friends to financialgym.com to get started today. Our warm-up calls are free of cost and judgment, so you have nothing to lose.