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How community banking can successfully compete in the modern era

NCR

The days when community banks and credit unions could stay behind the technology curve and still come out on top are long gone. Community banking has no future if leadership doesn’t wake to the new competitive reality and adapt some of their strategies and long-held biases in order to compete.

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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.

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Talking in a Digital World

Independent Banker

Increasingly, more digitally connected consumers are saying yes to that question with their community bank. Some even assume their bank will interact with them however and whenever they want. For many community banks, telephone calls still generate the highest volumes of customer service interactions.

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Fintech'ers Will Be Right on Branching. Unless Bankers Act.

Jeff For Banks

I also believe that branches can be developed as competitive advantages for community financial institutions. Much like the credit union CEO thinks his branching strategy differentiates his CU. But, as our current strategy execution stands, there is much work to be done. Make your branches look the part.

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Efficiency now: 8 smart strategy tips

Independent Banker

Fallout from recent global events presents an obstacle to generating revenue for community banks. As we enter budgeting season, the answers might be found in a mix of strategies. It’s certainly an interesting time to be a community bank, but there are still plenty of ways to make efficiencies with an eye on profitability. ?

Strategy 135
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How About Profits in the Branch of the Future?

Jeff For Banks

But let’s not forget that we have past experiences with a “light branch”; namely the declining in-store branches. These branches were notorious for being low-balance transaction-oriented branches that did not enjoy great success. mBank’s light branch depicted above is located in a mall. Not very inspiring.