The number of banking institutions in the United States has shrunk more than 65 percent since the Great Recession, with rapid declines in inbound foot traffic leading to an all-time high in branch closures in 2018. The pressure for banks to digitally transform and solve for relationship growth has never been greater.
Despite a broken inbound model and clear indicators which point toward much needed change, meaningful transformation in how financial institutions attract and expand relationships remains an elusive goal for many bank leaders—one that requires both technology and cultural change.
As bank directors and CEOs navigate these tightropes, it’s important to keep the banker at the forefront. Sales transformation initiatives fail when banks invest in technology that replaces people or fails to help improve the customer experience. They succeed when they help bankers do their jobs better and allow them to provide better value to their customers.
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Technology has the potential to redefine customer convenience and enhance how bankers attract and forge relationships—making them more confident, proactive, productive and ultimately valuable to end businesses.
This fact is no better exemplified than hearing directly from executives and front-line bankers at Eastern Bank, where our technology was initially developed. From being featured in The Wall Street Journal and The Economist to winning the 2016 Celent Model Bank Award, Eastern offered one of the first blueprints in the industry for how sales transformation can be done right and lead to meaningful relationship growth.
While we are proud of the role Numerated has played in Eastern’s growth story, it is the bank’s executive team and the daily work of its bankers on the front lines that made this transformation a reality.
The video above provides an inside look at the critical role both technology and bankers play in helping Eastern Bank forge relationships with businesses in the greater Boston area.
Watch the video to learn about their story, or download our platform overview guide to better understand how Numerated helps banks grow.
