Post by Backbase

Financial services were built around products, but everyday life of bank users does not work that way. In the latest episode of Banking Reinvented, Theodora Lau, Founder of Unconventional Ventures and author of Banking on Artificial Intelligence, makes the case that the way most banks are structured - distinct checking accounts, savings accounts, and retirement products - has nothing to do with how people really live. Real financial life involves trade-offs: Funding a child's education means adjusting retirement plans. Supporting aging parents means managing cross-border transactions. Running a business while planning for long-term care means holding five or six financial relationships together at once, with no single place to see the full picture. Theodora calls this the sandwich generation problem: managing up, managing down, and being squeezed in the middle by a financial system that was never designed to see the household as a whole. The question she keeps coming back to is: With all of that complexity, who is really there to help? 🎧 Listen to the full conversation with host Tim Rutten. Link to the episode in the comments.

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