Independent Banker - August 2018 - 59

Tech-nurtured
customer
Relationships
N
Customer
experience
Northern Bank & Trust,
Woburn, Mass.
Assets: $2 billion
orthern Bank & Trust has been a top-performing New England bank for eight years
running, but there's no resting on those laurels. " If we're not innovating, we're falling
behind, " shares Warren Brown, head of emerging markets and vice president. " While
we are a top-performing community bank today, we have to make sure we don't become the
most successful horse-and-buggy company at the time of the advent of the automobile. "
A deep understanding of customer needs anchors its innovation strategy. Northern Bank
& Trust views technology as a way to extend the community bank value proposition. For
example, by partnering with an account aggregator to pull customers' transaction data
from multiple sources, the bank can help its customers better manage their finances.
" Historically, you as a business owner could walk into your community bank and the bank
employees knew who you were, and they had suff icient insight that they could provide
advice, " says Brown. " Technology allows us to deliver that same relationship, just in a
diff erent way and to a broader range of businesses. "
-Colleen Morrison
Principled
fintech
partnerships
Somerset Trust Company,
Somerset, Pa.
Assets: $1.14 billion
3 ››› The number of guiding principles in
Somerset Trust Company's technology vision
For Somerset Trust Company, innovation hinges on distinguishing technologies
that allow the bank to:
1. Control its destiny
2. Offer product differentiation
3. Create a sense of internal pride by being first to market
Somerset Trust Company looks to fintech providers to bolster its technology
portfolio, but any company it works with must share its corporate philosophy.
" Everybody talks about creating a partnership versus engaging a vendor, " notes
John Gill, Somerset Trust Company's chief operating and risk off icer. " I believe we
really live that. "
-Colleen Morrison
independentbanker.org Q 59
John Gill

http://www.independentbanker.org

Independent Banker - August 2018

Table of Contents for the Digital Edition of Independent Banker - August 2018

Table of Contents
Independent Banker - August 2018 - Intro
Independent Banker - August 2018 - Cover1
Independent Banker - August 2018 - Cover2
Independent Banker - August 2018 - Table of Contents
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Independent Banker - August 2018 - Cover3
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