Today’s banks are facing unprecedented challenges brought on and exacerbated by unfamiliar competition.
Digital-first challenger banks, technology companies, and alternative lenders have officially begun to disrupt the system, targeting traditional financial institutions’ most profitable segments and peeling away deposits by providing faster, more convenient customer service.
The results have been devastating.
Not only did branch closures reach an all-time high in 2018, but analysts predict that mergers and acquisitions will lead to an increasingly consolidated industry—one which has already shrunk more than 65 percent since the Great Recession in 2008.
As the banking industry contracts, new competition takes on the lost market share. In fact, in some markets, banks are losing upwards of 60 percent of new revenue to what are referred to as “new entrants,” or financial institutions that did not exist prior to 2005.
In the face of these market forces, bank directors are often left choosing between one of two paths: selling their financial institution or investing in organic growth.
The latter option will be the main focus of discussion during Experience FinXTech in Chicago on Sep. 9-10.
The two-day event aims at addressing the very concept of banking evolution by bringing together financial institutions who seek growth and efficiencies with the fintech companies they can partner with to achieve those goals.
Experience FinXTech’s agenda is packed with a mix of keynotes and sessions which examine technology's impact on the business of banking and how FI and fintech partnerships lead to bank growth and increased profits. The event also includes a number of demonstration sessions, giving attendees the opportunity to get a hands-on look at the products and services that can help their banks thrive.
Numerated’s Senior Vice President David Mendoza will lead a demonstration session on Tuesday, September 10 from 10:20-10:40 A.M. The demonstration will walk attendees through the Numerated platform, explaining how the technology works, how it helps banks attract, develop, and grow relationships, and how its implementation can spur business development and lead to significant growth in business banking and beyond.
Attendees also have an opportunity to meet with David one-on-one throughout the course of the show, to learn more about Numerated and how it can transform sales at their financial institution.
Get the full, two-day agenda from FinXTech, or schedule a time to meet with David below.