ABA Banking Journal - February 2011 - (Page 36)
FEATURE STORY | COMMUNITY BANKING REPORT
lege professor who teaches at banking schools.
He confided in the professor recently:
“I’ve been asking our vendors what they
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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