Vice President of Commercial Banking
+22 year(s) experience
Zoya has spent over 20 years in the industry analyzing commercial banking space, including payables, receivable, digital banking, and user experiences. Mrs. Lieberman is a Certified Treasury Professional and currently resides on board of directors for the Southern California Association for Financial Professionals, as well as currently serving in a role of a co-president for the organization. Zoya has BS in Business and BA in Language from the University of Southern California and an MBA from Graziadio School of Business and Management at Pepperdine University.
When Apple and Google move into a new area, consumers pay attention. In August, Apple rolled out a consumer credit card with the tagline “Created by Apple, not a bank.” Its customers jumped at the offering: by the end of September, they had taken out credit lines worth $10 billion. Those numbers don’t come from an Apple press release, however. They come from regulatory filings from the actual issuer of Apple’s card—Goldman Sachs. Consumers clearly respond well to the idea of banking with a non-bank entity. This is slowing becoming the new reality in the consumer segment and will eventually move into the business and commercial space. Also known as, Banking as a Service (BaaS), which allows tech companies to build on an existing bank infrastructure. A concrete way for commercial banks to increase market share and exposure by infiltrating into an already established or emerging tech company. Driving both growth and revenue forward exponentially. The Apple Card is by no means a business or corporate card, this may change with time when key features include centralized billing and reporting. However, beyond the laser-etched titanium card and corresponding iPhone app, financial institutions still own the underlying infrastructure. Technology companies clearly aren’t going to supplant banks entirely anytime soon. But that doesn’t mean financial institutions can’t learn a thing or two from their historical frenemies in big tech.
When it comes to faster payments, countries in North America are behind the rest of the world. Countries outside of North America have enjoyed faster payment capabilities for two main reasons: 1) Government mandates that stipulated a need for immediate money transfers and 2) Countries that have no previous payment infrastructure jumped to the faster time payments rail right away.