Kristi: And now let's head out to KeyBank to see what's new in the banking industry.

Americans navigate a complex financial landscape with uncertainty, often financial stress, and yet financial resilience.

So here to tell us more about the banking industry is Dan Dower.

Dan is a regional president for King Bank.

And Dan, it' great to be here with you today.

Dan Dower: Thank you, Krisi.

Kristi: Thanks for being in Business life 360.

We can't wait to hear more about KeyBank and some of the impact that you're having on the region.

Dan Dower: Excellent.

Kristi: Tell us more about kind of an overview of KeyBank and where you are today.

Dan Dower: Yeah.

So KeyBank is one of the biggest banks in the country.

We would be define as a super regional, so roughly 200 billion in assets, and we are in 17 states from Maine to Alaska, 17,000 employees.

But our origins actually date back to 1825.

So it's a big year for us.

Kristi: OK..

If my math serves me correctly, 200 years.

Dan Dower: 200 years.

And as of April, our birthday is in April.

So our roots trace bac to the commercial Bank of Albany and Albany, New York, in 1825.

Kristi: So tell us then, about this 200th anniversary and what you'll be doing to really kind of acknowledge the history as well as the goin forward strategy with KeyBank.

Dan Dower: We're going to do a lot of exciting things this year.

Very few organizations survive multiple decades, let alone multiple centuries.

And really this year is about celebrating that, celebrating our employees with out there their work and their commitment and service to our clients and our communities.

We wouldn't have had the longevity that we have.

Kristi: So as you look at the banking industry, kind of 10,000ft up and looking down at where the industry is today, how would you describe it?

Dan Dower: I think the industry is in a really good spot.

I think it is, it's a leade in our society as a as it should be, has as it has been since really the founding of our, our country.

I believe the first bank wa formed in around 1791, roughly.

And I think the role of, of a bank, in terms of the security and the education that it ca bring and the opportunity that it can afford people to advance, their education and to create jobs and businesses, help businesses grow.

That's really pivotal to a thriving economy.

Kristi: As you look back, since when you came into the industry to today, what has changed the most?

Dan Dower: I think what's changed most is just the speed of response, whic I would attribute to technology.

So now we have so much more information and data, and it creates an opportunity for us to be even sharper, I think with our, decision making and with our analysis.

And as a result, we have a respo fluidity and with ease of doing business for our for our clients.

Kristi: You know you and I have talked a little bit about the disruptors in the industry and how innovation and technology, as you're alluding to, has really changed.

When we talk about things like AI or some of the things that are really maybe digital banking that are really coming to fruition in this industry.

How is that impacting the way you work with customers and clients and corporations?

Dan Dower: Yeah, I think it's as much about understanding, how you can be more efficient in what you do and understanding that, you know, you can break down silos, you can capture large swaths of data to help you make decisions, and you can reach people without having to physically be in front of them as often as you used to need to.

Kristi: KeyBank just performed a financial mobility survey, and I was really fascinated as I started to read more about this.

And really it talks about things like the findings are how customers view everything from debt management to income to kind of savings habits.

So how would you encapsulate some of the findings?

Dan Dower: Yeah, I think thought providing thought leadership is an important thing that we do our key.

So we do a lot of surveys.

We publish Kate, information on an economic basis and things like that.

Our corporate business is dedicated in certain targeted industries.

So we published a lot of things on those industries.

But performing, surveys specifically across wider audiences is something that we often like to do, as you alluded to.

So recently we surveyed 1000 individuals.

These were all adults.

So 18 to 70 age bracket all individuals that either had solo or primary responsibility of their household finances.

So decision makers and people with household responsibility and some themes we did we did hear, like you alluded to, that I thought were interesting.

One is that, homeownership up to many still feels like an unattainable, not attainable thing.

So I believe, the data was around 46% of the people that are not homeowners today felt like homeownership was unachievable to them.

Kristi: Interesting.

I also like to learn the Gen Z population.

What is an 18 to 28 or something like that?

Yes, a range right?

So how are they with savings?

And are they coming back to maybe where the baby boomers are?

Or how do you see that generation really fitting into this, this kind of dream of having a home and savings?

Dan Dower: Well, Gen Z, the survey result said, were much more pessimistic about the economy than al the other generation surveyed.

So, they had more of a negative outlook.

They also reported higher levels of credit card usage and stress.

So they definitely see to be feeling the burden of the, higher cost of living that most of us have have felt in the last 3 to 5 years.

So I think our responsibility in our job as a bank, our opportunit is to make sure that we provide good access and education and tools and meet them where they are, whether that's more digitally or whether that's more in the realms of budgeting and saving, so that, our subsequent generations have a better future tha our current and our former ones.

Kristi: For sure.

So what role can banks play, then, in helping individual and communities as KeyBank does?

Well, to achieve greater financial stability?

Dan Dower: Well, I think it really starts fundamentally with wellness reviews and budgeting.

So I think we again, we have both an opportunity but also a responsibility to try to help our neighbors understand, what financial security looks like.

And there's no one size fits all.

There's no mathematical numbe that makes sense for everyone.

But we really think about meeting your basic needs and then having, you know, peace of mind come comfort.

And to some that means, yo know, a certain amount of money.

To others it means other things.

But really identifying what your goals are and what you want to achieve for yourself and your family and helping people, char a path to achieve those goals.

Kristi So as we look ahead for KeyBank and some of the community initiatives, what are you most excited about as you get engaged and continu to be engaged in the community?

Dan Dower: I think our community is undertaking a lot of really cool things right now.

There's a collaborative effort across several of the, more prominent, nonprofits, if you will, to tr to get more community alignment on some shared goal and initiatives that really help move our communit forward and, and set priorities and make sure we attack, funding opportunities, for instance, at the state and federal level.

And, and make sure that we aren't just kind of siloed on the areas that we're, operating.

Well in today and reall thinking about where do we want metro Toledo and the Northwest Ohio community to be and how can we make more significant strides in areas of, wealth equality and education?

Within our Toledo education system, for instance, things like that.

So there's there's really coo collaborative efforts going on, that we are front and center at the table with as well.

And then we will always and continue to be focused on funding pillars that, align with KeyBank and the key bank's strategy.

And so we focus those in the areas of workforce development and education and affordable housing, and then really just trying to create safe and stable communities.

Kristi: What a great initiative.

Another exampl of how KeyBank is truly making a difference in our community and in our region.

So Dan, thanks for being here.

Thanks for sharing your vision with us and continued success to you.

Dan Dower: Thank you.

Kristi.