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Examining the changing world of community banking

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Manage episode 488499432 series 2422758
Content provided by High Performance Media and Events and High Performance Media. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by High Performance Media and Events and High Performance Media or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

Between evolving customer expectations and pressure from other financial providers, community banks have struggled to maintain relevance in recent years.

In today's episode of the Bank Customer Experience Podcast, Bradley Cooper, editor of ATM Marketplace, spoke with Jean-Pierre Lacroix, president of Shikatanai Lacroix Design and Marbue Brown, founder of the Customer Obsession Advantage and a former banker about how community banking is changing

When looking at challenges community banks face, Lacroix spoke about increased competition

"There's a lot more competition today with fintechs and consolidation," he shared in the podcast.

Brown agreed, stating many national banks are encroaching on community banks territory through a variety of activities even sponsoring local events.

"The natural advantage community banks have is being erased," Brown said.

The statement points to the power of community banking in general. Lacroix said one of the primary drivers of growth in banks is being able to provide relevant advice and have a strong local presence, whereas simply providing good products reduces loss.

Brown and Lacroix also discussed a number of topics related to community banking including:

  • How are big banks coming into community banking spaces?
  • How can employees train using AI?
  • How can financial advice be credible?
  • What role does community involvement play?
  • What does Gen Z want from a branch?
  • What role should the teller take?

Listen to the conversation in full above.

  continue reading

16 episodes

Artwork
iconShare
 
Manage episode 488499432 series 2422758
Content provided by High Performance Media and Events and High Performance Media. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by High Performance Media and Events and High Performance Media or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

Between evolving customer expectations and pressure from other financial providers, community banks have struggled to maintain relevance in recent years.

In today's episode of the Bank Customer Experience Podcast, Bradley Cooper, editor of ATM Marketplace, spoke with Jean-Pierre Lacroix, president of Shikatanai Lacroix Design and Marbue Brown, founder of the Customer Obsession Advantage and a former banker about how community banking is changing

When looking at challenges community banks face, Lacroix spoke about increased competition

"There's a lot more competition today with fintechs and consolidation," he shared in the podcast.

Brown agreed, stating many national banks are encroaching on community banks territory through a variety of activities even sponsoring local events.

"The natural advantage community banks have is being erased," Brown said.

The statement points to the power of community banking in general. Lacroix said one of the primary drivers of growth in banks is being able to provide relevant advice and have a strong local presence, whereas simply providing good products reduces loss.

Brown and Lacroix also discussed a number of topics related to community banking including:

  • How are big banks coming into community banking spaces?
  • How can employees train using AI?
  • How can financial advice be credible?
  • What role does community involvement play?
  • What does Gen Z want from a branch?
  • What role should the teller take?

Listen to the conversation in full above.

  continue reading

16 episodes

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