A redesigned banking experience

From empowering financial confidence and launching new Cafés to exploring corporate social responsibility, Capital One is changing the way we think about money

Mario Armstrong, Catherine Foca, Michael Egan, and Jessica Fox on the panel at Giving Tuesday's #CapXTalk
Mario Armstrong, Catherine Foca, Michael Egan, and Jessica Fox on the panel at Giving Tuesday's #CapXTalk –Capital One

With the holidays in full swing, it’s common to wish for a better relationship with money. Spending on friends and family can make it difficult to stay on track with financial goals during the busy holiday season. But Capital One is empowering Bostonians to take control of financial habits and develop a stronger relationship with money – during the holidays and all year long.

Boosting financial confidence

Capital One’s straightforward, intuitive products and tools are designed to help individuals use money wisely, build financial confidence and – ultimately – achieve their goals. One of the company’s newest programs that’s being piloted in Boston is called Money Coaching, an offering that’s free and open to the public.

“Money Coaching combines elements of life coaching with financial information so that our customers can feel like they have a roadmap for their money that connects back to their values.” said Lia Dean, SVP of Capital One Cafés. “With Money Coaching, we really try and take a fun, approachable slant on your traditional financial education.”

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In addition to Money Coaching, Capital One is introducing digital innovations to their already top-rated line-up:

  • CashTapp, a new app that’s being piloted at the Back Bay Café, puts a spin on ATMs, allowing customers to access their money with only their phones (no debit cards or PIN numbers required).
  • An integration with Alexa, Amazon’s digital assistant, in customers can now pay their credit card bills or check their balance with a simple voice command (Capital One was the first financial institution to sync up with Alexa).
  • CreditWise, a free credit tracking tool that allows everyone to stay informed and provides tips to improve one’s credit score.
  • Budgeting app LevelMoney, which is enables people to plan ahead for expenses and understand their Spendable money each month.

All of these advancements in banking technology stem from Capital One’s willingness to listen to the needs and wants of their customers.

Folks watching a demo of Capital One's new CashTapp ATM
Folks watching a demo of Capital One’s new CashTapp ATM —Capital One

New café locations

Beyond offering the evolving suite of free digital tools, Capital One will be expanding its physical presence in the greater Boston area with new Cafés in the Seaport, Hingham and Lynnfield rolling out in the coming months.

Dean explains the Cafés in Boston thusly: “What we’ve achieved with the Cafés are spaces that don’t feel judgmental, don’t feel sales-focused, and are instead spaces that allow customers to become more confident in their relationship with money.”

“Our new locations, which are coming to Seaport, Lynnfield, and Hingham, are bigger than the locations we have so far because we’ve heard many requests for more meeting spaces,” said Dean. “We want to be able to host more events, like the #CapXTalks, have more interactive digital experiences, and have more semi-private and private spaces for our customers to meet with Café ambassadors. These new locations are a renewed version of the Café experience that is completely built on what customers told us.”

Capital One is opening Café locations in Seaport, Hingham, and Lynnfield
Capital One is opening Café locations in Seaport, Hingham, and Lynnfield —Capital One
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Exploring corporate social responsibility

As Capital One rolls out new brick and mortar Cafés, the brand is continuing to work on embedding in the Boston community. Partnering with and hosting local events is a key aspect: Take this past week, when Capital One hosted top CSR leaders from Boston and beyond at its Boylston Street Café for a #CapXTalk panel discussion on Giving Tuesday about how Bostonians and businesses can use their resources to help their communities.

The event was just the latest installment in the brand’s recurring #CapXTalk panel series, which covers everything from personal finance and innovation to small business success.

Speaking on the #CapXTalk panel on Tuesday were industry professionals representing the Red Sox Foundation, Harpoon Brewery and Capital One. To kick things off, panel moderator and Today Show correspondent Mario Armstrong asked each panelist about their brand’s specific approach to corporate social responsibility.

“We allow the folks who work in our Cafés and know the areas to decide which organizations they want to serve and how they want to serve them. It allows employees to embed their own passions and knowledge into projects that they never thought they could.” – Catherine Foca, president of the Capital One Foundation and senior director of Community Affairs at Capital One

Through a program called Give Back, Capital One provides each Boston Café funds that empower their Ambassadors to give to local causes of their choice.

“We realize that there are infinite needs, but we can only focus on a handful, like the Home Base Program, Jimmy Fund and some others. We not only have to write the checks; we have to do the work. We hire staff, become involved, and execute the program, not just fund the program.” – Michael Egan, Red Sox Foundation board member

“Being a good neighbor is built into our DNA as a brand. With that, we have the opportunity to bring people together, and events are what we do best. We support others who are putting on fundraisers with gift baskets or beer for an event, as well as put on our own events that have grown over the years.” – Jessica Cox, director of Harpoon Helps and Sponsorships at Harpoon Brewery

Questions covered topics like how to gain attention from the community about philanthropic opportunities, how to define a community relations budget, and how to combat the perception that brand’s only do philanthropy work in their own self-interest. Watch the entire discussion here at CapXTalk.FORA.tv.

In addition to serving the community year round through programs like Give Back, Capital One is also devoted to giving back to its customers through their commitment to forward thinking. By listening to what their customers want and giving them more tools to succeed, Capital One truly sets itself apart here in Boston and beyond.

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