By Kasasa | 06/02/2021
Everybody wants loans, and nobody wants deposits… except for the megabanks and neobanks. What do they know that community financial institutions don’t know? In part one of this two-part episode of Thinking Outside the Vault Kasasa’s Chief Research Analyst Patrick Dickson explains what the competition is thinking and how community financial institutions can develop a counter-strategy. It all comes down to cultivating relationships with consumers that can lead to significant growth down the road.
In this episode we discuss:
- The balance sheet difficulties that most community financial institutions are facing.
- The conventional solutions that many leaders will turn to in an attempt to rebalance their loan-to-deposit ratios.
- How the work of growing your institution is akin to planting a forest or an orchard.
- How megabanks and neobanks are carving up the retail banking space.
- What you can do to establish relationships with consumers that will lead to future growth.
You can listen to the second part of this conversation here.