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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.
With financial hardship, competition from dominant players, and a startup budget, Gentle Monster faced many of the same challenges as a communitybank. How Banks Can Leverage: Niche markets abound in banking, and communitybanks are in the perfect position to create a following on a national level should they desire.
A communitybank CEO takes a contrarian approach to underperforming branches, staffing up instead of closing them down, and Bank of the West embeds star employees at nonprofits as leadership training.
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Is your bank effectively mitigating the risk of 'managing to metrics'? The phony-account scandal at Wells Fargo illustrates how sales quotas can incent bad behavior. Or could it be in danger of becoming a 'cargo cult'?
The company, which has closed a fifth of its branches in recent years, hopes underbanked clients will boost traffic at its remaining locations. TCF Financial in Minnesota has launched a set of products targeting low-income customers.
The focus of banks' sales practices should be less about unit-based incentives, and more about developing a full relationship with customers and doing what's in their best interest.
The scorcher at Wells is giving some community bankers an opening to differentiate themselves from larger institutions that seem fee-dependent or "too big to manage.".
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