David is a recognized authority on business strategy and change management with over 20 years of senior management experience at “Top 10” banks and leading community banks. He is president of Peak Performance Consulting Group, which helps banks and credit unions achieve superior revenue growth, sales and distribution effectiveness and cost efficiency.
So begins a new year with a new Fed chair—and new possibilities in the ways banks approach business and operations.
Many smaller financial institutions wrongly believe they can’t achieve digital innovation. But this case study and ten takeaways reveal a path to success.
So begins a new year, a new administration and new possibilities in the ways banks will approach business and operations.
Banks need to eliminate complexity by simplifying processes and customer interactions, with the payoff being lower expense, higher customer loyalty and reduced risk.
As the Millennial generation increases its economic clout, banks need to adapt strategies that enable them to profitably attract, serve and grow with these new customers.
To avoid the revenue growth squeeze, community banks need to embrace neighborhood marketing, improve sales effectiveness, expand customer relationships, utilize data analytics for product design and diversify their offerings.