We’re looking forward to joining Bank Director at their annual conference, Acquire or Be Acquired, at the end of this month. If you’re a Director or Executive at a community bank in attendance, chances are you’re focused on growth in the new year, whether that’s through:
- Making an acquisition
- Surviving an acquisition
- Remaining independent
Indeed, since consolidation began at the start of the Great Recession, most financial institutions have focused their yearly agendas on one of these three goals. And, with little more than 5,000 banks remaining, or about 65 percent fewer than just a decade ago, it’s easy to see the effect consolidation has had on the industry. For those that remain, survival requires a forward looking growth strategy.
The digital age has created consumers that prize convenience and speed above all else, and this shift in expectations has tilted the advantage toward larger financial institutions, fintechs, and big technology companies with significantly more resources and capital to invest in digital offerings.
Community and regional banks, however, tend to have fewer resources and, often, more risk-averse cultures. Therefore, remaining relevant to consumers in the age of Amazon requires community and regional banks think differently about how they approach technology and the future of their institutions.
The CEO of First Mutual Holding Co., Tom Fraser, offers a great example of this. He will join our CEO Dan O’Malley on stage at Acquire or Be Acquired to discuss how he’s brought community banks into the future by prioritizing technology, like Numerated’s, that improves the customer experience and the bank’s economics.
During the Monday, January 27th breakout session at 9:45AM, titled “Doing More With Less: How Community Banks Are Out-Competing Megabanks, Alt Lenders & Big Tech,” Tom and Dan will discuss the First Federal Lakewood partnership with Numerated which led to a 3.4X growth of the bank’s business segment in just two years—helping them out-compete other community banks, global megabanks, big tech companies, and fintechs in their markets.
The duo will take attendees through the value and growth that the right strategic technology investment can provide community banks, including:
- Meeting customer expectations in the digital age
- Improving the economics of customer acquisition, lending, and deposit growth
- Providing better regulatory compliance and transparency
Community bank Directors and Executives that attend the session will hear the digital transformation story of a leading community bank, understand the technology required for community banks to succeed in the digital age, and walk away with a blueprint for prioritizing technology investments at their own institutions.
To schedule some time with the Numerated team at the conference, drop us a line today.
Want to learn more about First Federal Lakewood’s growth story before the AOBA presentation? Download the case study today!