One of the best ways to become a better banker is to pay attention to your competition and analyze their strengths and weaknesses. We pay particular attention to term sheets and commitment letters from other banks to learn what other banks are doing well and where they make mistakes. We intend to capitalize on competitors’ weaknesses and to learn to address and respond to other banks’ strengths. We recently reviewed a term sheet that we thought highlighted some in
Given that it is the start of the year, it is a common practice in banking to clean your desk to kick things off. When it comes to desk cleanliness, you have two choices: leave your desk alone or set it on fire.
If you think your bank has tough employees, consider a bank that brought in a motivational consultant that had the employees walk on a 6 ft. wide path of hot coals.
Knowing who your competition is, what they are offering, their delivery channels and service levels can help community banks differentiate their services and enhance their competitive advantage. Understanding the competitive banking landscape helps community banks set proper pricing, effectively respond to rival marketing, and compete more effectively. Analyzing the competition can also help a bank be realistic about which products it can sell and at what price.
The volatility that is kicking up in the market is causing a resurgence for banks to develop early warning signals on credit. Banks sit on a treasure trove of data that is only partially utilized.
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