Independent Banker - November 2022 - 24

PORTFOLIO
and because they are speaking to a
live person, the experience is more
personal than using an ATM. "
Reaching customers
Of course, successful retail banking
requires more than just technology.
Earlier this year, OCB introduced its
Colleague Banking Initiative (CBI).
" We don't take it for granted that
a colleague will choose to do their
banking with OCB, " Versluys says.
" Many do bank with us, of course.
However, to increase the number of
colleagues who are also clients, we
decided to educate and incentivize. As
a result, we have been able to increase
the percentage of 'colleague/clients'
by 20%. "
To achieve this, the community
bank employed multiple strategies.
First, it offered incentives to both new
colleague/clients and those colleagues
who were already customers before
the initiative. The incentives included
one PTO day for the current year and
every year that the colleague remains
a client, as well as drawings for $100
gift cards. Second, OCB created a
dedicated CBI support team to help
colleagues with banking questions,
open new accounts and protect the
privacy of their information. Third,
it conducted multiple town hall live
Looking even further into the future
For community bank leadership teams, now is the time to better
understand upcoming retail banking trends and prepare for a rapidly
changing environment. A 2022 PwC report, " Retail Banking 2025
and Beyond, " cites an " urgent call to action " for retail banks. It points
to three priority areas where banks should act immediately and
proactively to adapt: tech-powered transformation, data-enabled
customer focus and broad-based trust.
PwC's analysis suggests several possibilities for how the next
decade could unfold. According to the report, " Now is the time
to consider radical future-facing scenarios to prepare to build
the capabilities and resilience that will be necessary to thrive in
tomorrow's far more dynamic environment. "
video sessions to help spread the
word on CBI and answer questions.
As always, financial education
plays a key role in deepening
customer relationships. It's an
important focus for Gorham
Savings Bank, which provides its
customers with access to tools and
resources to help them improve
their financial wellness.
This began with its launch of
Personal Finance, a software
program that helps customers
budget, track spending and
manage savings goals. " We then
expanded that by hiring a financial
wellness coach to provide more
personalized advice and guidance, "
Hancock says. " During COVID,
we expanded that approach by
building a resource team that
could connect customers with
community resources to help them
with a wide range of needs. We are
now in the process of building out
this knowledge and skill set in our
branch teams. "
" During COVID, we [built] a resource
team that could connect customers with
community resources to help them with
a wide range of needs. We are now in the
process of building out this knowledge and
skill set in our branch teams. "
-DAN HANCOCK, GORHAM SAVINGS BANK
Expanding availability
Recently, Gorham Savings Bank
began offering Smart Start, a
Bank On-certified checking
account to provide everyone in its
community with access to safe and
affordable banking.
" Part of our mission as a bank
is to promote financial wellness,
and we felt a responsibility to help
our customers through challenging
times, " says Hancock. " Since then,
inflation has had a big impact, and
being able to provide tools and
advice to help customers adjust
their budgets has been helpful. " 
William Atkinson is a writer in Illinois.
24 Q ICBA Independent Banker Q November 2022
Independent Banker - November 2022

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