Etcetera...

Last night, I was at a meeting where they talked about headwinds (barriers) and tailwinds (encouragers) in your life. The discussion was about how we all have someone or some event that have been our tailwind and maybe we did not even realize it. The task was to think about tailwinds in our life and if it was a person or people, to tell them about it and thank them for it. As I think about the people in my life who have been tailwinds for me, I realize that some of them are already gone and I wonder if I thanked them appropriately for making a difference in my life. First thing this morning, I sent three notes to people who are still here and whom I can thank personally for their encouragement. Who/what has been your tailwind? Tell them thank you!

We have had much discussion around the LBA about technology and how it impacts the bank’s operations and the bank’s interaction with customers. One speaker talks about the technology required to keep the customers’ needs satisfied; one article talks about how banks with high touch have advantages; one conversation talks about the appropriate balance between high tech and high touch. The literature is literally all over the board. It seems to come down to what is the right thing for your particular bank with your particular customers and your particular strategic plan. Some of your decisions depend on the abilities of your core processor. Find the right person at your core processor to give you all the options they offer and how you can incorporate the products/services that meet your needs. Keep asking until you get all the information you need. Our goal at the LBA is to keep offering you possibilities, alternatives and resources that will help you decide how you need to proceed. 

Another thing that has been on my mind lately is data. You have so much data available in your systems. Is it “clean” enough for you to use? Do you know how to get the information out of your system to use for marketing and direct selling? Is there a core system guru in your bank who knows the full robust-ness of your core? Your data is your data and no other bank has it. You do not have to do general marketing or general correspondence because you have the data to individualize your messages. Find a way to use your data. It is your advantage. 

Enjoy banking!