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For inspiration in banking innovation, we often look to other industries. Honkook Kim and his Gentle Monster Brand is a perfect example. With financial hardship, competition from dominant players, and a startup budget, Gentle Monster faced many of the same challenges as a communitybank.
The advent of generative artificial intelligence is about to shift branchstrategy again to re-raise the question – how can we get the most out of our branches? Likely, it might be a combination of the above, but setting a branchingstrategy should dictate capital allocation, branch layout, marketing, and staffing.
This article How a $1 Billion CommunityBank Outperforms Industry Giants appeared first on The Financial Brand. Webster Five's retail banking chief shares how smaller banks can leverage technology partnerships and community focus to compete effectively with larger institutions.
I also believe that branches can be developed as competitive advantages for community financial institutions. Much like the credit union CEO thinks his branchingstrategy differentiates his CU. But, as our current strategy execution stands, there is much work to be done. Make your branches look the part.
But branches are being reborn amid a new sense of community. The post Digital Banking’s COVID Boom Drives Branch Transformation appeared first on The Financial Brand. Digital channels won the race for convenience.
But the unwillingness to reconsider branch dependency could be a millstone. The post New Competition Forcing Smaller Banks to Try (Almost) Anything appeared first on The Financial Brand - Banking Trends, Analysis & Insights.
In his 22 years, he built Umpqua from a sleepy local bank into a regional powerhouse and internationally recognized brand. Ray Davis is stepping down as Umpqua's CEO at yearend and transitioning to a new role as head of its year-old innovation lab.
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