I’m very pleased to be moderating a panel discussion at the BAI Retail Delivery Conference on the very timely and important topic: Winning Strategies for Community Banks. Here are the details — hope to see you there.
Moderator:
David Kerstein, President, Peak Performance Consulting
Panelists:
Will Hileman, CEO, Farm Bureau Bank
Chuck Sulerzyski, CEO, Peoples Bank
Dwight Utz, CEO, East Carolina Bancorp
As the industry continues to face extraordinary challenges, how do community banks thrive, not just survive? Learn from CEOs of three leading community/super-community banks as they discuss strategies for growing revenue, competing in a consolidating market, dealing with the new deposit product economics and managing product and service delivery.
- Moving beyond cost cutting: revenue opportunities for community banks today
- Competing with the Big Dogs: Leveraging the competitive advantage of community knowledge in markets dominated by Top 10 banks
- Managing distribution cost, especially in rural markets. Is technology the answer?
ATMs have evolved from simple cash machines to really represent what their acronym stands for: Automated Teller Machines. For an interesting review of some of the key trends (and some additional perspective from us), see: After over 4 decades, ATMs are still vital to the banking industry.
But with improved technology and changing customer habits (decreased use of cash, fewer branch visits) many banks are re-evaluating how ATMs fit into their overall distribution strategy. In recent weeks, Bank of America announced it was reducing its’ off-site ATM footprint, removing them from many grocery stores and shopping malls, while at the same time PNC is increasing the number of off-site ATMs. Chase is experimenting with greater self-service in their retail branches, utilizing ATM-type technology to reduce the cost of branch operations. Meanwhile, USAA and Coastal Federal are continuing their expansion of enhanced function ATMs, combining them with supplemental technology, to provide a complete customer service experience that includes document scanners, document and check printers, and video conferencing access to remote sales and service experts.
How should banks and credit unions integrate ATMs into their strategy? They are still a vital distribution point, but financial institutions need to use a sharp pencil to determine the best strategy.
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