Q&A with Nick Baker, Managing Director at Bakehouse Communications

Media 7 | February 11, 2021

Nick Baker, Managing Director at Bakehouse Communications, is a brand and customer experience specialist with over 30 years in the client and agency financial services environment. He has held senior marketing roles for life, pensions, and investment companies. He was the Marketing Director at Irish Life UK, and Head of Communications for Barclays Investments before owning a successful marketing agency. He has been responsible for bringing countless innovative products and over 14 brand new financial services businesses to market, including operating recently as a NED for a retail property investment fund manager. He is the founder and director of an online simplified protection business, called simple and open. Putting the customer at the heart of clients’ businesses has been his career–long passion.

Stay fresh, experiment constantly, measure everything, and don’t forget to talk to the customer.



MEDIA 7: What inspired you to get into marketing? Please take us through your journey.
NICK BAKER:
I started in the Financial Services Industry in a technical underwriting role, which fortunately exposed me to the distribution and marketing teams. I enjoyed the sales environment more than underwriting, but not wanting to go into a pure sales role, I moved into my first start-up of many, early in my career. The entrepreneurial start-up environment gave me the opportunity to help design and communicate new products and services, so my marketing career was born. I then moved into managing the whole marketing discipline end to end with various types of financial services businesses and helped launch a few new companies along the way.

Finding my creative and innovation side was needing to be more satisfied, I left the corporate world to help run a marketing agency and set up their digital business in the early days of online, before setting up my own agency. Over the years I’ve worked with around 100 different businesses, helped launch more new start-ups, and have come full circle helping a new brand called free2, as one of the founder team.

M7: What marketing channels do you use and which ones do you see as the most promising given your target customers?
NB:
I use all available channels and am constantly blending the mix to drive the right commercial outcomes. I start with customer insight to define key channels, but then employ a very dynamic test and learn the process to optimize strategies. The new start-up brand free2 aims to bust the preconceived ideas of the older demographic, and this extends to the media and delivery tactics we employ.


Staying relevant is a big challenge as consumers’ mindsets, attitudes and behaviors have shifted significantly. Not every marketing message used pre-covid will continue to resonate in people’s hearts and minds.



M7: What is your approach to market research, both customer and competitor focused?
NB:
Market research to gain valuable customer and competitor insight is essential in everything we do. I like to look for innovative ways of gaining insight to keep the knowledge fresh, secure, and deliver an edge. One of the best experiences I remember was spending 3 days living in a hotel with a group of consumers. That was certainly a deep dive into how they were thinking. 

M7: How do you ensure that your sales team understands and presents the products in an engaging manner?
NB:
I create a communications strategy that connects the brand to the product and service proof points, and which is then underpinned by a set of agreed and consistent messages. I look for ways of presenting the messaging through innovative formats and channels, digital and non-digital.  For example, in this ‘zoom world,’ I have introduced interactive brochures that are far more engaging than traditional linear ones.


In financial services where the human touch is vital in many areas, delivery using remote digital channels will need to factor in consumers’ need for humanization.



M7: What do you believe are the top three product marketing challenges in the post COVID-19 era?
NB:
In financial services, where the human touch is vital in many areas, delivery using remote digital channels will need to factor in consumers’ need for humanization.

Staying relevant is a big challenge as consumers’ mindsets, attitudes and behaviors have shifted significantly. Not every marketing message used pre-covid will continue to resonate in people’s hearts and minds. For example, propositions around planning for the long term may seem off-target, when people are more focused on the present. Keeping a finger on the pulse of peoples’ thinking is even more important than ever.

Understanding that post COVID-19 life will be more fluid for many consumers, so products and services may have to adapt to new patterns of income and expenditure, working and non-working. This will create additional commercial pressures in product and service design and delivery, to accommodate these new patterns of living and working.

M7: How are promotional tactics changing for products and services launching during these periods?
NB:
Online has been the massive beneficiary of recent times accelerated by COVID-19, whilst retail has taken a battering. TV has played a very important part in targeting certain segments during the lockdown and will continue going forward. Social media continues to grow with the introduction of new platforms. Video is a must-do promotional tactic whether a pure campaign play or as part of a deeper content marketing strategy. Overall, understanding the performance metrics across a multi-channel strategy is key to delivering on the commercial goals of any business.

M7: Words of wisdom for marketing professionals?
NB:
Stay fresh, experiment constantly, measure everything, and don’t forget to talk to the customer.

ABOUT BAKEHOUSE COMMUNICATIONS

Bakehouse Communications helps clients meet today’s marketing needs as well as tomorrow’s strategic challenges, by building and delivering on brand purpose. They do this across all channels for B2B and B2C clients, and set themselves the goal of bringing fresh, challenging and innovative thinking to everything they do.

More THOUGHT LEADERS

Q&A with Christine A. Moore, Managing Director, North America at FirmDecisions

Media 7 | September 7, 2021

Christine A. Moore, Managing Director, North America at FirmDecisions has over 20 years of agency and in-house experience in commercially driven roles. Her global knowledge is complemented by an in-depth understanding of the US market and an extensive marketing procurement background. Christine has also served in CFO and COO roles across the agency business and has held roles at the likes of PepsiCo Inc., Interpublic, Dentsu International, MDC Partners and WPP during her career....

Read More

Q&A with Suleiman Barada, Head of UABdigital & Sr. Advisor at the Union of Arab Banks

Media 7 | September 17, 2021

Suleiman Barada, Head of UABdigital & Sr. Advisor at the Union of Arab Banks, is an Independent Technology Business Strategist and at the Union of Arab Banks, he spearheads the inception of the Digital Transformation Unit with Ecosystem-wide vision and mission, and a mandate to leaving no financial institution behind in the Digital Economy within the Arab countries. Suleiman is an Ecosystem Architect with focus on value creation and practices a purpose-driven methodology to developing and executing Digital Business Transformation roadmaps while being entirely focused on Benefits Realization and the way they can be measured, attained, and sustained. Suleiman has worked with a wide variety of technology vendors such as SAP, IBM, Oracle, and Microsoft, and possesses a thorough understanding of the global tech ecosystem and their characteristics. Certified Digital Transformation Advisor, Six Sigma Yellow Belt, and a Project Management Professional (PMP) since 2005 and cross-industry experience includes Defense, Government, Financial Services, Healthcare, Higher Education, Construction, Facilities Management, Telco, Utilities, and Retail sectors....

Read More

Q&A with Bronwyn Pretorius, Head of Marketing at Mukuru

Media 7 | September 17, 2021

Bronwyn Pretorius, Head of Marketing at Mukuru, is a seasoned marketeer with over 14 years of experience. In her current position as HOD Marketing for one of the largest Remittance led FinTech's in Africa, she has entered into a new industry of Financial Services where she aims to bring a positive change with strategic planning, implementation and leveraging her innate interpersonal skills with the focus of delivery....

Read More

Q&A with Christine A. Moore, Managing Director, North America at FirmDecisions

Media 7 | September 7, 2021

Christine A. Moore, Managing Director, North America at FirmDecisions has over 20 years of agency and in-house experience in commercially driven roles. Her global knowledge is complemented by an in-depth understanding of the US market and an extensive marketing procurement background. Christine has also served in CFO and COO roles across the agency business and has held roles at the likes of PepsiCo Inc., Interpublic, Dentsu International, MDC Partners and WPP during her career....

Read More

Q&A with Suleiman Barada, Head of UABdigital & Sr. Advisor at the Union of Arab Banks

Media 7 | September 17, 2021

Suleiman Barada, Head of UABdigital & Sr. Advisor at the Union of Arab Banks, is an Independent Technology Business Strategist and at the Union of Arab Banks, he spearheads the inception of the Digital Transformation Unit with Ecosystem-wide vision and mission, and a mandate to leaving no financial institution behind in the Digital Economy within the Arab countries. Suleiman is an Ecosystem Architect with focus on value creation and practices a purpose-driven methodology to developing and executing Digital Business Transformation roadmaps while being entirely focused on Benefits Realization and the way they can be measured, attained, and sustained. Suleiman has worked with a wide variety of technology vendors such as SAP, IBM, Oracle, and Microsoft, and possesses a thorough understanding of the global tech ecosystem and their characteristics. Certified Digital Transformation Advisor, Six Sigma Yellow Belt, and a Project Management Professional (PMP) since 2005 and cross-industry experience includes Defense, Government, Financial Services, Healthcare, Higher Education, Construction, Facilities Management, Telco, Utilities, and Retail sectors....

Read More

Q&A with Bronwyn Pretorius, Head of Marketing at Mukuru

Media 7 | September 17, 2021

Bronwyn Pretorius, Head of Marketing at Mukuru, is a seasoned marketeer with over 14 years of experience. In her current position as HOD Marketing for one of the largest Remittance led FinTech's in Africa, she has entered into a new industry of Financial Services where she aims to bring a positive change with strategic planning, implementation and leveraging her innate interpersonal skills with the focus of delivery....

Read More

Related News

FINANCIAL MANAGEMENT, INVESTMENT MANAGEMENT

Jacobi to Scale Fintech-enabled Model Portfolio with Principal Asset Management

Principal Asset Management | January 24, 2023

In order to expand its fintech-enabled model portfolio solution, supported by multi-asset risk analytics and industry-leading client interaction technology, Principal Asset ManagementSM recently announced that it has teamed up with Jacobi Inc., a global provider of investing technology. Principal® gives advisers analytics and tools that will help them serve their clients better in the long run, with a big focus on digital transformation. The company will benefit from Jacobi's cloud-native technology, which will provide a customizable platform for more meaningful portfolio research by delivering customized, forward-looking, and historical data in a fully-integrated visual environment. Jacobi's storyboard and reporting technology make it easy to look at risk and return in a portfolio in detail and show how it affects the portfolio's goals. Michael Casciano, Head of Model Strategy at Principal Asset Management, observed, "Working with Jacobi to create proprietary multi-asset risk analytics will make it easier for advisors to understand how model portfolios will behave in different market conditions. We're excited to offer advisors access to bespoke, forward-looking and historical analytics." (Source – Cision PR Newswire) Meanwhile, Tony Mackenzie, Chief Executive Officer at Jacobi, expressed, "It's very pleasing to work with such a well-regarded asset manager. This partnership with Principal will help them deliver superior analytics and engagement tools to its investment teams and advisors and ultimately better outcomes for the end client. Unsurprisingly, there is strong demand for our technology owing to the increased need for investment firms to scale and connect investment processes and increase the quality of engagement with clients. Jacobi has a global footprint and a strong pipeline – with more new business wins to announce later in the year." (Source – Cision PR Newswire) About Principal Asset Management Principal Asset Management and its team of investment experts approach asset management with a fresh perspective, leveraging their expertise across public and private markets, along with a diverse range of asset classes to develop innovative strategies that help clients achieve their financial objectives. More than 1,100 institutional clients in more than 80 locations rely on it because of the firm's ability to identify unique and attractive investment opportunities by combining local insights with global perspectives. The company, a division of Principal Financial Group®, manages $484.6 billion in assets and has been named one of the ‘Best Places to Work in Money Management’ for 11 consecutive years.

Read More

FINANCIAL MANAGEMENT, FINTECH

Axiom Bank Selects Cable to Strengthen Fintech Partnerships

Axiom Bank | January 25, 2023

In a recent development, Axiom Bank, N.A., headquartered in Florida, announced that it will leverage automated assurance and oversight processes across its partner programs by integrating with Cable's comprehensive financial crime compliance effectiveness testing platform thereby, enhancing its ability to provide partners with an elegant, agile experience while ensuring regulatory compliance. Aleem Jackson, Senior Vice President, BSA/AML Program Head at Axiom Bank expressed, “We are excited to work with Cable to continue advancing our innovative fintech sponsorship program." He further added, “We take very seriously our responsibility to ensure our fintech partners maintain their compliance with regulatory requirements and expectations, including applicable financial crime obligations.” (Source – Cision PR Web) Nigel Prince, Senior Vice President, Partnerships, Ventures, and Delivery at Axiom Bank said, “Integrating with Cable’s platform is fully in line with our vision of being a compliance-led, innovation-focused institution. Cable offers us enhanced visibility across and into each of our fintech programs, enabling us to respond promptly and appropriately to any issues or concerns and ultimately empowering us to move quicker and offer a superior end-to-end experience for our fintech partners.” (Source – Cision PR Web) Cable's all-in-one platform provides partner banks with tech-enabled risk assessments, automated assurance, quality assurance, management information, reporting, and more to boost financial crime compliance. Natasha Vernier, Cable CEO stated, “We’re thrilled to partner with Axiom Bank to help build its fintech sponsorship program." “With the bank-fintech regulatory landscape shifting rapidly in recent months, it’s clear that leading partner banks like Axiom Bank set themselves apart with an emphasis on compliance as an integral part of their fintech sponsorship offering. It’s a privilege to work with a community-focused partner bank that also similarly embraces innovation and compliance at its core," she concluded. (Source – Cision PR Web) About Axiom Bank Axiom Bank, founded in 1963, helps customers simplify banking and attain their financial goals. The company, a well-capitalized and qualified public depository institution, is committed to its personal and business clients, along with integrating the latest technologies into its platform. As the future of better banking, Axiom Bank empowers people with financial solutions to improve their daily lives. The bank is redefining the customer experience through differentiated partnerships and innovative solutions.

Read More

CORE BANKING, FINTECH

Pacific Service Credit Union Chooses Lumin Digital to Enhance Its Digital Banking

Pacific Service Credit Union and Lumin Digital | January 20, 2023

On January 19, 2023, Lumin Digital announced that it established a multi-year agreement with Pacific Service Credit Union (Pacific Service CU) in California to promote an improved online banking experience for the latter's almost 70,000 members and assets worth over $1 billion. Lumin's cloud-based online and mobile digital banking platform, set to launch in October, will provide better safety, security features, and seamless digital integration. This would help Pacific Service CU develop tailored experiences by providing personalized suggestions such as spending insights, financial guidance, savings goals, and fraud warnings. Michelle Shelor, Chief Operating Officer of Pacific Service Credit Union, stated, "At Pacific Service CU, we've built a strong reputation for providing world-class products and services for our members." Michelle continued, "Our partnership with Lumin Digital will greatly improve the user experience and back-end processes. We are excited to bring this new technology to our members." (Source – Cision PR Newswire) Lisa Daniels, Lumin Digital's Chief Delivery Officer, indicated that Pacific Service CU's members would benefit from the cooperation. In a recent digital-banking analysis from The Financial Brand, U.S. financial leaders foresee four themes for 2023, all of which are Lumin's focus - digital transformation, boosting data and analytics, streamlining the customer journey, and extending digital product and payment capabilities. "Addressing these critical areas hasn't always led to predictable outcomes for financial institutions in the past," Lisa Daniels said. "Lumin's thoughtful approach, experienced implementation teams, and innovative technology stack simplify this process greatly - providing Pacific Service CU with the confidence, security, and engagement they deserve from their digital partner," she concluded. (Source – Cision PR Newswire) About Lumin Digital Lumin Digital, a majority-owned subsidiary of a PSCU, provides a cloud-native platform that redefines digital banking for financial institutions. The platform offers a complete and modern integrated suite of capabilities based on the industry's most sophisticated technology and best practices. In addition, through a patented engagement model that enables highly focused, actionable, and distinctive digital interactions, organizations will be able to create excellent user experiences across platforms, enabling more personalized journeys and connected relationships. About Pacific Service Credit Union Pacific Service Credit Union, headquartered in Concord (California), is a full-service financial institution. The company, recognized as a Bay Area Top Workplace from 2019 to 2022, has a talented, cohesive leadership team with an average of over 11 years of service. Meanwhile, San Francisco Business Times has also recognized its corporate generosity over the years, placing it in an elite group of businesses that give away more than 2% of its annual profits.

Read More

FINANCIAL MANAGEMENT, INVESTMENT MANAGEMENT

Jacobi to Scale Fintech-enabled Model Portfolio with Principal Asset Management

Principal Asset Management | January 24, 2023

In order to expand its fintech-enabled model portfolio solution, supported by multi-asset risk analytics and industry-leading client interaction technology, Principal Asset ManagementSM recently announced that it has teamed up with Jacobi Inc., a global provider of investing technology. Principal® gives advisers analytics and tools that will help them serve their clients better in the long run, with a big focus on digital transformation. The company will benefit from Jacobi's cloud-native technology, which will provide a customizable platform for more meaningful portfolio research by delivering customized, forward-looking, and historical data in a fully-integrated visual environment. Jacobi's storyboard and reporting technology make it easy to look at risk and return in a portfolio in detail and show how it affects the portfolio's goals. Michael Casciano, Head of Model Strategy at Principal Asset Management, observed, "Working with Jacobi to create proprietary multi-asset risk analytics will make it easier for advisors to understand how model portfolios will behave in different market conditions. We're excited to offer advisors access to bespoke, forward-looking and historical analytics." (Source – Cision PR Newswire) Meanwhile, Tony Mackenzie, Chief Executive Officer at Jacobi, expressed, "It's very pleasing to work with such a well-regarded asset manager. This partnership with Principal will help them deliver superior analytics and engagement tools to its investment teams and advisors and ultimately better outcomes for the end client. Unsurprisingly, there is strong demand for our technology owing to the increased need for investment firms to scale and connect investment processes and increase the quality of engagement with clients. Jacobi has a global footprint and a strong pipeline – with more new business wins to announce later in the year." (Source – Cision PR Newswire) About Principal Asset Management Principal Asset Management and its team of investment experts approach asset management with a fresh perspective, leveraging their expertise across public and private markets, along with a diverse range of asset classes to develop innovative strategies that help clients achieve their financial objectives. More than 1,100 institutional clients in more than 80 locations rely on it because of the firm's ability to identify unique and attractive investment opportunities by combining local insights with global perspectives. The company, a division of Principal Financial Group®, manages $484.6 billion in assets and has been named one of the ‘Best Places to Work in Money Management’ for 11 consecutive years.

Read More

FINANCIAL MANAGEMENT, FINTECH

Axiom Bank Selects Cable to Strengthen Fintech Partnerships

Axiom Bank | January 25, 2023

In a recent development, Axiom Bank, N.A., headquartered in Florida, announced that it will leverage automated assurance and oversight processes across its partner programs by integrating with Cable's comprehensive financial crime compliance effectiveness testing platform thereby, enhancing its ability to provide partners with an elegant, agile experience while ensuring regulatory compliance. Aleem Jackson, Senior Vice President, BSA/AML Program Head at Axiom Bank expressed, “We are excited to work with Cable to continue advancing our innovative fintech sponsorship program." He further added, “We take very seriously our responsibility to ensure our fintech partners maintain their compliance with regulatory requirements and expectations, including applicable financial crime obligations.” (Source – Cision PR Web) Nigel Prince, Senior Vice President, Partnerships, Ventures, and Delivery at Axiom Bank said, “Integrating with Cable’s platform is fully in line with our vision of being a compliance-led, innovation-focused institution. Cable offers us enhanced visibility across and into each of our fintech programs, enabling us to respond promptly and appropriately to any issues or concerns and ultimately empowering us to move quicker and offer a superior end-to-end experience for our fintech partners.” (Source – Cision PR Web) Cable's all-in-one platform provides partner banks with tech-enabled risk assessments, automated assurance, quality assurance, management information, reporting, and more to boost financial crime compliance. Natasha Vernier, Cable CEO stated, “We’re thrilled to partner with Axiom Bank to help build its fintech sponsorship program." “With the bank-fintech regulatory landscape shifting rapidly in recent months, it’s clear that leading partner banks like Axiom Bank set themselves apart with an emphasis on compliance as an integral part of their fintech sponsorship offering. It’s a privilege to work with a community-focused partner bank that also similarly embraces innovation and compliance at its core," she concluded. (Source – Cision PR Web) About Axiom Bank Axiom Bank, founded in 1963, helps customers simplify banking and attain their financial goals. The company, a well-capitalized and qualified public depository institution, is committed to its personal and business clients, along with integrating the latest technologies into its platform. As the future of better banking, Axiom Bank empowers people with financial solutions to improve their daily lives. The bank is redefining the customer experience through differentiated partnerships and innovative solutions.

Read More

CORE BANKING, FINTECH

Pacific Service Credit Union Chooses Lumin Digital to Enhance Its Digital Banking

Pacific Service Credit Union and Lumin Digital | January 20, 2023

On January 19, 2023, Lumin Digital announced that it established a multi-year agreement with Pacific Service Credit Union (Pacific Service CU) in California to promote an improved online banking experience for the latter's almost 70,000 members and assets worth over $1 billion. Lumin's cloud-based online and mobile digital banking platform, set to launch in October, will provide better safety, security features, and seamless digital integration. This would help Pacific Service CU develop tailored experiences by providing personalized suggestions such as spending insights, financial guidance, savings goals, and fraud warnings. Michelle Shelor, Chief Operating Officer of Pacific Service Credit Union, stated, "At Pacific Service CU, we've built a strong reputation for providing world-class products and services for our members." Michelle continued, "Our partnership with Lumin Digital will greatly improve the user experience and back-end processes. We are excited to bring this new technology to our members." (Source – Cision PR Newswire) Lisa Daniels, Lumin Digital's Chief Delivery Officer, indicated that Pacific Service CU's members would benefit from the cooperation. In a recent digital-banking analysis from The Financial Brand, U.S. financial leaders foresee four themes for 2023, all of which are Lumin's focus - digital transformation, boosting data and analytics, streamlining the customer journey, and extending digital product and payment capabilities. "Addressing these critical areas hasn't always led to predictable outcomes for financial institutions in the past," Lisa Daniels said. "Lumin's thoughtful approach, experienced implementation teams, and innovative technology stack simplify this process greatly - providing Pacific Service CU with the confidence, security, and engagement they deserve from their digital partner," she concluded. (Source – Cision PR Newswire) About Lumin Digital Lumin Digital, a majority-owned subsidiary of a PSCU, provides a cloud-native platform that redefines digital banking for financial institutions. The platform offers a complete and modern integrated suite of capabilities based on the industry's most sophisticated technology and best practices. In addition, through a patented engagement model that enables highly focused, actionable, and distinctive digital interactions, organizations will be able to create excellent user experiences across platforms, enabling more personalized journeys and connected relationships. About Pacific Service Credit Union Pacific Service Credit Union, headquartered in Concord (California), is a full-service financial institution. The company, recognized as a Bay Area Top Workplace from 2019 to 2022, has a talented, cohesive leadership team with an average of over 11 years of service. Meanwhile, San Francisco Business Times has also recognized its corporate generosity over the years, placing it in an elite group of businesses that give away more than 2% of its annual profits.

Read More

Spotlight

Bakehouse Communications

Bakehouse communications helps clients meet today’s marketing needs as well as tomorrow’s strategic challenges, by building and delivering on brand purpose. They do this across all channels for B2B and B2C clients, and set themselves the goal of bringing fresh, challenging and innovative thinking to...

Events

Resources

resource image

FINANCIAL MANAGEMENT, INVESTMENT MANAGEMENT

FinTechnicolor: The New Picture in Finance

Whitepaper

resource image

FINANCIAL MANAGEMENT, FINTECH

RAPID GROWTH ATTRACTS SMART CAPITAL

Whitepaper

resource image

FINANCIAL MANAGEMENT, INVESTMENT MANAGEMENT

FinTechnicolor: The New Picture in Finance

Whitepaper

resource image

FINANCIAL MANAGEMENT, FINTECH

RAPID GROWTH ATTRACTS SMART CAPITAL

Whitepaper

Events