Independent Banker - June 2020 - 60

JUNE 24 | 3 ET / 2 CT
Beyond Bank
Accounts:
Creating New
Value
Featuring:
Keith Brannan
Chief Marketing Officer
Kasasa
" Retail banking is not going anywhere. Yet, [retail banks]
need to evolve their locations beyond a couch and
a bowl of candy. "
-Nikhil Srinivasan, Zebra IQ
lines being blurred, " Johnson says,
" because customers want to talk to a
trusted person about the wide array
of products we off er and receive
good answers rather than being sent
someplace else. "
Featuring:
Julie Roughton
Director of Brand
Management
Kasasa
Join us to learn how to deepen
consumer relationships with
products that account holders
are already inclined to purchase
or are currently getting
from someone else...while
increasing your non-interest
income.
Delivering the Apple experience
Maine has one of the highest
percentages of senior citizens in
the country. Its population is also
growing slowly. For $4.7 billionasset
Bangor Savings Bank, that
demographic mix means it's crucial
to capture the next generation
now, and that requires back offi ce
preparedness to reduce friction.
" Ten years ago, if your website
was down for a few hours, it wasn't
the end of the world, " says Bob
Montgomery-Rice, the community
bank's president and CEO. " Today,
if your mobile banking product is
down for minutes, it really impacts a
consumer's ability to bank and it's a
real threat to the relationship. "
Today, Bangor Savings Bank is
focused on an internal culture shift
to move beyond the traditional
thinking of process, order and
controlling risk. Montgomery-Rice
says he's always asking, " How [is Gen
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Z] going to drive us to be diff erent? "
" We've been focused on creativity
and innovation, because if you're
going to meet Gen Zs needs, " he says,
" your bankers, project managers and
operational people need to be more
nimble and quick. "
Bangor Savings Bank's teams are
prepared to bank Gen Z thanks to its
solid technology base, MontgomeryRice
says, plus good client lifecycle
management, a platform that can
be built upon. The community bank
frequently considers when to expand
to 24/7 operations, and it's beta
testing a debit card that rewards
consumers for shopping with local
merchants. Finally, the bank keeps
its board aware of eff orts to attract
Gen Z customers that require time
and money before receiving a good
return on investment.
Gen Z's technology demands
and customer service expectations
may just be the tip of the iceberg.
Montgomery-Rice says older
generations follow their kids and
grandkids in embracing the newest
technology in an eff ort to stay
connected. Increasingly, all age
groups may expect your community
bank to off er security, speed and
access without needing them to
take action.
In short, all generations grow
to expect the Apple experience.
Gen Z's expectations are inherent
in digital natives who grew up with
smartphones. As Montgomery-Rice
says, " Thank you, Steve Jobs! "
Susan Thomas Springer is a writer
in Oregon.
http://www.Independentbanker.org
Independent Banker - June 2020

Table of Contents for the Digital Edition of Independent Banker - June 2020
