ABA Banking Journal - February 2011 - (Page 36)
FEATURE STORY | COMMUNITY BANKING REPORT TIME lege professor who teaches at banking schools. He confided in the professor recently: “I’ve been asking our vendors what they S TO REINVENT COMMUNITY BANKING? Challenges and frustrations have industry assessing the basics. Most rule out wholesale change, but many see more than tweaking necessary By Steve Cocheo, executive editor teve Goodenow, president and CEO of $613.7 million-assets Bank Midwest, is concerned about the future of his bank and his part of the industry. He knows a col- are working on, in terms of features that will appeal to our future customers.” The professor told him he was right to be concerned. He’d recently asked students to raise their hands if they banked with a community bank. Few arms were raised. Why so few fans? The professor said the young people were all about mobile banking apps. If you didn’t have that, you weren’t in their world. “How do you engage Gen Y?” says Goode- 36 | ABA BANKING JOURNAL | FEBRUARY 2011 36 | ABA BANKING JOURNAL | SEPTEMBER 2010
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