Wake up, community bankers

Today's banks offer many new products and services, operate under new and more onerous regulations, face new sources of competition, and must cope with new technology. The only constant over the years has been change itself, and even that is accelerating as the rapid pace of technological advan...

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Bibliographic Details
Published in:United States banker (Cos Cob) 1997-03, Vol.107 (3), p.64
Main Author: Casey, Diane
Format: Article
Language:English
Subjects:
Bank management
Banking industry
Banks
Commercial banks
Competition
Finance companies
Financial services
Future of banking
Polls & surveys
Product development
Software industry
Success
Surveys
Technological planning
Telephone companies
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Summary:Today's banks offer many new products and services, operate under new and more onerous regulations, face new sources of competition, and must cope with new technology. The only constant over the years has been change itself, and even that is accelerating as the rapid pace of technological advancement shortens the time between each new software release. A recent survey of community banks shows that some community bankers recognize that their world is changing and are beginning to make strategic choices to compete. At the same time, other community bankers refuse to acknowledge the dramatic changes taking place in their industry. A commentary states that bankers who refuse to formulate a strategic plan for their future, one that addresses how new technologies fit their banks, will allow others to control their future and may even be threatening their survival.
ISSN:0148-8848
2162-3198
2470-2080