Regulators are cracking down on fintech partnerships, making it harder for smaller banks that don't have the same tech budgets as larger institutions. Meanwhile, lower rates should help lower deposit costs and spur loan demand, but those benefits may take time to materialize.
Against this backdrop, sales experts advise community banks to capitalize on their best asset: a strong connection to local businesses. Talent development, they say, is the key. First, banks need to attract and retain individuals capable of delivering personalized advice, building trust, and meeting their clients' diverse financial needs. Second, they need to train them to hone skills related to relationship management and consultative selling to turn personal connections into profits.
Peer Intelligence member and the CorePoint CEO Neil Stanley discussed training frontline bankers to become financial experts and money managers when he joined Banking with Interest earlier this year. If you missed it, give it a listen.
How have your employee training programs evolved in recent years? What is your approach to attracting and retaining talent? What's worked and what hasn't?
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Rob Blackwell
Chief Content Officer and Head of External Affairs
IntraFi
Arlington, VA
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