Magazine article Independent Banker

Why We Must Embrace Change

Magazine article Independent Banker

Why We Must Embrace Change

Article excerpt

The world is rapidly changing around us, and it's up to community bankers to evolve with it-all while creating that optimal balance between our relationship lending business model and the technology offerings that our customers have come to expect.

This may sound like a complicated proposition, but it's simply the way business is done today and will be done in the future. In fact, it's always been this way. Does anyone remember the industry's concern and skepticism when ATMs appeared on the scene? They didn't turn out to be so bad, right?

If anything, ATMs have enhanced our industry. As our customers became more mobile, we needed to move with them. And if they want something, we need to give it to them. After all, we're just as much in the customer service business as we are in the financial services business.

It's no secret that today's community bankers need their finger on the pulse. We should be looking at fintech companies as potential partners, with the aim of blending their technology with our established services and customer care.

We also need to view our core service provider relationships as ever-changing, rather than stagnant; we should periodically evaluate whether they are meeting our needs or if something needs to change. This topic hits close to home, since we at ValueBank Texas are in the process of updating our core system in order to be able to offer the ancillary products our customers want.

Above all, we are focusing on the user experience, rather than the bank operation. We are keeping our customers at the forefront of our minds as we make decisions. …

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