The Purposeful Banker

Everyone at your bank is on board the innovation train, but is it headed to the right destination? In this week's podcast, Dallas and Jim explain why successful banks are focusing their innovation on customer value, not cost-savings.  It's also the central theme of the ebook they discuss, "Flip the Formula: How Top Banks Innovate to Win."    

Gathering information is a science. Filtering out noise is an art. To best serve their customers, commercial banks need to find the right balance between the two.

Lots of banks are talking about their artificial intelligence initiatives, but how are those programs affecting the bottom line. In this week's podcast, PrecisionLender CEO Carl Ryden walks through the important questions that bank analysts and investors should be asking, as well as the answers bank leaders should be prepare to give. 

What separates the best commercial RMs from the rest? Gita Tholleson, SVP for Client Success at PrecisionLender, explains how top RMs deliver tangible value, act as trusted advisors, and find ways to outmaneuver the competition.

How are banks doing in recruiting commercial lenders? Why are incentive plans still an unsolved issue? Those issues and more details from Bank Director's Annual Compensation Survey are discussed in the latest Purposeful Banker podcast.

Big commercial banks aren't just spending more on tech in terms of total dollars; they're also dedicating a higher percentage of their budget to tech investment. Why does this spending gap exist and what does it mean for regional and community banks? 

Why is it that top commercial relationship managers win deal even when they're not offering the lowest rate? Gita Tholleson, Precisionlender SVP of Client success, shares the tactics that separate the best RMs from the rest.

Why are the toughest competitors for a commercial deal sometimes working at the same bank? And how can you align your commercial bankers so they're working toward the same goals with each customer relationship?

Jim Young and Dallas Wells discuss an Accenture article on the three traits of innovative commercial banks and what those traits look like in banks we work with. They also discuss the hurdles banks face in becoming innovative.    Accenture article:  https://www.accenture.com/us-en/insight-future-fintech-banking

Dissatisfaction isn't always a bad thing. Hear from Dallas Wells in this episode on why your bank may need some level of dissatisfaction to be successful. 

Jim Young and Dallas Wells sit down with Jimmy O'Boyle of Chatham Financial to talk swaps. You'll learn about the 2017 benchmark stats tracked by the Trading Desk, and what they mean for commercial banks. Interested in hanging out with Chatham during their Swaps Tailgate at the BankOnPurpose Conference? You can register here!  https://info.chathamfinancial.com/Event-SwapsTailgateBankOnPurpose2018_...

Jim Young and Dallas Wells discuss why default settings matter at your bank and how your default settings can either hinder or help you.  "We know that the  default settings  determine the behavior of the group. Organ donation, 401k allocations, the typeface on our word processor--the way it's set to act if we don't override it is often the way we act. Because often, we decide it's not worth the e...

Jim Young sits down with Rollie Tillman, Managing Director at PrecisionLender, and David Andrukonis, Director at RiskSpan. They  discuss what CECL means for banks and how you can best prepare for it.   Learn more about RiskSpan here:  https://riskspan.com/  

In this episode, Jim and Dallas discuss rising interest rates. You'll come away with a clear understanding of the different ways rising rates will affect your bank and how you should adjust your tactics accordingly.

We've seen that our clients have very high pull-through rates, which piqued our interest. What are they doing to be so successful? Jim and Dallas discuss insightful and interesting tactics to help you improve your pull-through rates in this episode of the Purposeful Banker. 

How old is your banking technology? Jim and Dallas discuss reasons why your bank might hold on to old technology in today's technology forward world and how you can begin to replace the old with the new with as little risk as possible. 

Jim and Dallas chat about the ramifications of being a complacent commercial bank. You'll learn why you shouldn't keep kicking the tires on digital transformation, what it means to be a passive bank, and where pricing fits in with all of this. 

If you're looking to implement technology within your bank, this is the episode to listen to. Dallas shares lessons he's learned from bank technology implementation projects that didn't quite go as he'd planned. 

Maria Abbe, Content Manager at PrecisionLender, sits down with Katharine Briggs, EVP of Client Success, to discuss why the financial services industry is the least trusted industry, according to the most recent Edelman Trust Monitor. They dive into possible reasons why this may be and how banks can earn back the title of trust they rightly deserve. 

"Community and regional banks have developed a dangerous reliance on commercial real estate (CRE) lending that is not sustainable. This CRE treadmill is dangerous, and banks must decide how they intend to get off it." Jim Young and Dallas Wells discuss how your bank can get off the CRE treadmill and diversify its growth.     Join us on April 25th - 27th for the third annual BankOnPurpose Conferenc...

Listen as Joel Rosenberg, SVP of Delivery & Client Success at PrecisionLender, walks us through the simulations he did to answer the question: Should I price with Prime or LIBOR?   Join us on April 25th - 27th for the third annual BankOnPurpose Conference in Austin, TX. Use promo code 'podcast18' for 10% off your registration. www.bankonpurpose.com  

Jim Young chats with Jeff Marsico, EVP at The Kafafian Group and writer of the blog, Jeff for Banks, on the importance of defining who your customers are and building a strategy to target them.    http://jeff-for-banks.blogspot.com/ http://kafafiangroup.com/   Join us on April 25th - 27th for the third annual BankOnPurpose Conference in Austin, TX. Use promo code 'podcast18' for 10% off your regis...

If it's lucrative, the competition is going to want it and they're going to have the ammunition to go after it. In this episode, Jim Young sits down with George Neal to discuss why you would want reprice your best deal. 

If you're not leading in today's banking industry, you're losing. There's no longer such a thing as a "fast follower." Jim Young and Dallas Wells discuss the need to lead in today's banking industry, a conversation based off of the article by JP Nicols, managing director at FinTech Forge and BankOnPurpose 2017 speaker, entitled " Leaders, Learners, and Laggards ."

"The customer is always right if it's the right customer for you." In this episode, Jim Young sits down with Tom Stewart and Patricia O'Connell, authors of the book "Woo, Wow, and Win," as they share the concept behind service design and how you can use it to better serve your customers.