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.
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.
As customers migrate to digital channels, bankers need to aggressively re-configure their branch networks in terms of the number and mix of facilities, the staffing provided and the role of the contact center.
Community banks face unique issues but they can improve revenue and efficiency when they target growth segments and embrace new technology.
A visit to Chase and Umpqua branch-of-the future prototypes in San Francisco highlights two very different visions of the future of banking.
Customer service programs that fuel measurable profitability improvement are those that are integrated into a bank’s overall operating rhythms.