Community banks face both challenge and opportunity in 2016 as they face uncertainty over interest rates, a sluggish recovery, increased regulations and rapid changes in customer preferences.
As new banking technologies and demand for changing service models drive transformation at the branch, employee engagement can play a key role in optimizing sales and service delivery.
Mortgage and auto lenders are re-evaluating their internal anti-discrimination practices after a Supreme Court ruling means the disparate impact theory is here to stay.
Going beyond traditional marketing, bankers now post blogs and white papers, offer credit coaching and extended hours and pay for leads to gain an edge in pursuing small business customers.
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.