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10 Data-Driven Ideas To Increase Branch Engagement

South State Correspondent

The advent of generative artificial intelligence is about to shift branch strategy again to re-raise the question – how can we get the most out of our branches? At an average of $1 million per year to operate, the branch is the most expensive per unit channel in banking, given that a good branch serves 2,000 to 3,000 customers.

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Steal This 5-Step Banking Innovation Playbook from Gentle Monster

South State Correspondent

Instead of thinking traditionally, Gentle Monster pursued a strategy of innovation and creativity to become the hottest sunglass company globally, creating a company currently valued at $900 million. Being months away from bankruptcy, Kim launched a bold five-step plan driven by a strategy around innovation. A modern core system?

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Women in Banking: 'Boom-Boom Room' Milestone; Contrarian Branch Strategy

American Banker

A community bank 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. Sexism is less blatant than in the "Boom-Boom Room" era, but women aren't yet treated like equals at the male-dominated Wall Street firms.

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Taking A Pass On Passwords

PYMNTS

In 2003, Bill Burr was a midlevel manager at the National Institute of Standards and Technology where he authored, “NIST Special Publication 800-63. In addition, the industry is being buoyed by independent deployments as banks rethink their brick-and-mortar branch strategies. That’s not hyperbole. Appendix A.”.

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Wells Fargo Says It Has a New Strategy, Offers Scant Details

American Banker

Wells Fargo’s freshly installed CEO made clear Friday that he wants to chart a new course following the revelation that thousands of employees opened phony accounts. But Tim Sloan made few promises about what the megabank will eventually look like.

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The Wells Question Is Popping Up on Other Banks' 3Q Calls

American Banker

Apart from the usual queries about prospects for loan growth and strategies for controlling costs, bank executives better be prepared this earnings season for probing questions about in-branch sales practices and how they are compensating front-line employees.

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Old Dominion Hires Longtime Va. Banker as Retail Banking Director

American Banker

Old Dominion National Bank in McLean, Va., has hired Stephanie Lykins-Harvey, formerly of Cardinal Bank in McLean, as director of retail banking.

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