Pub. 7 2016 Issue 1

spring 2016 25 West Virginia Banker with a broad range of functions. Should cus- tomers have any questions during a self-ser- vice transaction, a staff member should be nearby and have the skills necessary to assist them. Therefore, banks must hire more tech-savvy personnel and train employees to be expert users of the bank’s technology themselves. What your peers said: Nearly 30% of survey respondents called branch optimization their top strategic focus for 2016. And they’re right on target in terms of building a team of universal bankers, with 48% planning to increase spending on employee training this year. Omnichannel Becomes Reality Underlying the proliferation of branch trans- formation will be the further adoption of omnichannel strategies. Capital investments in service-oriented architecture have enabled delivery channels to be integrated, creating consistent experiences across each channel. Customers can begin the account-opening process online and then easily complete the process inside the branch. Banks can have a holistic view of the customer, including internet and mobile usage. What’s more, with integrated tools like CRM for banking and customer analytics, banks can develop more targeted campaigns to mobile users. For instance, these tools can tell you which of your customers are prime candidates for a home equity loan, and you can target those customers with offers via mobile banking. What your peers said: According to our survey, 11.1% of your peers named enhancing mobile/omnichannel banking their greatest opportunity for 2016, up from just 3.2% last year. And 27.3% see this as their top strategy for improving the customer experience. Mobile Payments Thrive If 2015 was the year of the mobile wallet (Apple, Android and Samsung all launched offerings), then 2016 is the year mobile pay- ments gain traction. With more promotion coming from providers and more acceptance coming frommerchants, customers will start using mobile payment options more frequently. The key for banks is education: your customers trust your advice, so talk to them about mobile payments—and be sure they make your institution’s debit card “top of wallet.” This allows you to capitalize on a more secure payment option as well as collect the interchange fee. What your peers said: Understandably, feelings are mixed on some of these non-traditional technologies, but 40.8% of the banking executives we sur- veyed think these services can complement their offerings and have a positive impact on profitability. So, does this year’s strategy include any of these initiatives? Regardless of your ap- proach, 2016 will be the year of implemen- tation for many fintech solutions, so don’t be left behind. And if you’re deciding where to start—or curious how other factors like compliance and risk management will affect the industry—check out the full Executive Report: 2016 Banking Priorities Study. n Make Your Shareholders happY! Use our C&I Program to instantly add loan growth and diversification. Contact your representative today or email to CI@centerstatebank.com 704.496.2612 5960 Fairview Road, Suite 400 Charlotte, NC 28210 www.csbcor respondent.com SteveDuPerrieuisvicepresidentofchannels andanalyticsforCSI.Inhisrole,heprovides leadershipforCSI’sdeliverychannelstrategy, which includes digital banking, payment services, business and analytics software, andbranch/retaildeliverysolutions.Steve is also a board member for the Associa- tion for Financial Technology (AFT).