By Ryan Barrow
From the SunTrust-BB&T
(now the recently announced Truist Bank) mega merger on down, the retail
banking industry finds itself in a period of sustained consolidation. For many
community and regional banks (particularly those in metropolitan areas) that
are forced to compete with much larger banks and are looking to grow, an
acquisition of a smaller institution or participation in a merger of equals has
been the primary strategy for growing deposits.
By Mary Ellen Biery
a community financial institution spends a lot of money on technology, the last
thing management wants is to be disappointed. It’s actually the last thing the
technology provider wants as well – if the vendor plans to stay in business.
By Jay McAnelly
As customers save for children’s college expenses, prepare for retirement and manage their finances through other life stages, there is a real opportunity for community banks to help them reach their financial goals. In fact, a recent study from J.D. Power reveals that 78 percent of U.S. retail bank customers are interested in receiving financial advice or guidance from their bank. Community banks can position themselves to meet this need by making financial planning a part of their offering. In addition to driving customer satisfaction and loyalty, it can also create new sources of revenue and growth. If you’re a community bank leader contemplating ways to build out a financial planning capability for your customers, here are three strategies to get started.
By Tim Klatt
If yours is a bank rooted in tradition, you’ve probably spent decades building your customer base and establishing your business and brand within your community. You know your community, and it knows you. Though tradition can and should be a core part of your financial institution’s identity, it can threaten forward progress if it leads to a “status quo” way of thinking.
By Jessica Cheney
industry is in a time of tremendous digital transformation. The question today is
what are the big steps banks need to undertake in order to meet the unique challenges
of their customers and win business.