Commercial loans are not the only way forward.
Catering to consumers can also be a path — as long as you’re making sure the consumer experience is modern and relevant to their needs.
Technology can be a major shortcoming for smaller institutions who will need to ensure that ease of doing business is their number one priority for the communities they support.
If your own executive board can’t do your processes, neither can your customers.
Joe Ehrhardt, CEO & Founder of Teslar Software, joins the show today with incredible, concrete examples of how you can better make your small, local financial brand stack up to the big boys.
Joe called out this process failure for smaller institutions stating, “Banks need to realize that if they’re just making a consumer app for indirect lending."
But it’s not just making access easy, your bank or credit union has to be on board too.
“You have to educate the bank and say, ‘This is good for your community,’ and you’ve got to educate the business and say, ‘This is good for your consumer.’” Joe told us.
Laying the foundation of your community financial brand’s future health starts with both making sure the community knows you’re there and that you’re with the times.
Key Insights and Takeaways