Pub. 8 2018-2019 Issue 5

12 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S FEATURE ARTICLE BY STEVE DUPERRIEU, CSI W hat will rise as the hot-button issue for bankers in 2019? To find out, CSI annually polls executives at U.S. fi- nancial institutions across the country, asking questions that uncover the strategies and issues they believe will most affect the financial sector in the year ahead. 220 bankers answered our survey this year, and shared how they plan to exceed customer expectations in 2019. As we analyzed the findings, five key topics stood out: customer acquisition, digital bank- ing, cybersecurity, regulatory compliance, and lending. Customer Acquisition Key Data: a. 44%of bankers are adding self-service options like online account opening, 17% are adding ITMs/ILTs and 19%are pursingM&A activity. b. 39% of bankers recognized loans as the most important channel for attracting new cus- tomers in 2019. c. 32% of bankers see self-service account open- ings as essential to improving the customer experience. Customer acquisition is the name of the game, and it’s a battlefield out there. So, how are banks stepping up to the fight? Automated online account-opening solutions are a strong vehicle to both increase banks’ customer base and solidify existing account relationships through cross-sales. Elsewhere, bankers are dead-on in nam- ing loans as the most important channel for acquiring customers in 2019. The market is quite favorable, despite rising interest rates. However, without a solid presence in digital lending, you’ll likely miss this opportunity. Digital Banking Key Data: a. Approximately 3 in 4 banks plan to offer P2P by the end of 2019. Automated online account-opening solutions are a strong vehicle to both increase banks’ customer base and solidify existing account relationships through cross-sales. Survey Says: Your Peers Weigh in on 2019 Banking Strategies