My HORNE Cyber Solutions colleagues and I just spent two wonderful days at the annual Alabama Banker’s Association (ABA) Bank Operations and Management Summit. Talks and discussions during the event centered on three overlying themes. We have discussed some of them previously in this blog, and all are pertinent to your banking organization.
This was the hottest topic at the conference. Multiple speakers discussed it, and we had multiple conversations with bankers about Cybersecurity and other IT concerns. As technology adoption continues to accelerate, so do the related risks. For good reason, those risks continue to stay top of mind with bankers and regulators.
Bank Marketing Strategies
Banks have to increase the level at which they engage clients and prospects through social media channels and their web presence. The next generation of clients and prospects (as well as current Boomers and Gen X customers) are online and engaged in social media. Even some of the youngest future clients have researched your bank. It’s likely that they know more about your bank than you are aware. You might as well engage with them online so you can maintain control of the conversation!
We also considered the ways banks are engaging customers through innovative branching strategies. For example, one new branch strategy centers on creating an environment where people want to hang out – not just transact business. Teller lines are a thing of the past. “Museum” branches are slowly headed in that direction as well. We came away from these discussions with a clear imperative to remind banks to think through their branching strategy. If you are going to have branches, it’s important to consider how they provide an atmosphere where your customers want to come!
The ABA convention offered a great opportunity to spend time discussing these and other important topics with a smart group of bankers. My team and I had a blast, and we look forward to learning more in the future.
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