When bankers seek outside advice for improving their institutions, they need to follow through on the recommendations they agree to implement.
While implementation of new credit loss standards is years away, banks need to begin now to develop the data and systems capabilities to handle this change.
Automated decisioning can make small business lending more profitable for banks – as long as the process includes the human factor as well.
To fully capitalize on the opportunities available with small business customers, banks need to offer products and services that are relevant to their actual needs.
Community banks looking to grow core customer relationships should focus on a combination of activities related to employees, customers and products.
Linking private and business banking enables bankers to serve both the commercial and personal requirements of business owners – if they can overcome internal silos.
While bankers often criticize alternative lenders for unfair pricing, bottom fishing and irrelevance to the overall loan market, the smart ones should take a closer look.