Independent Banker - February 2020 - 31

Next: ICBA is cultivating another group of young fintechs
North State Bank in Raleigh, N.C.
Digital lending is just another tool that banks
can use to provide a higher level of service, as
well as offer different service options, he says.
North State Bank offers an end-to-end digital
consumer mortgage, from the online application
all the way through to a digital closing.
The digital process is faster and more efficient,
Sykes says, which frees up more time for
loan officers to provide personal service. For
example, North State Bank uses the efficiencies
created up front with the digital process to make
sure that, prior to the actual closing, everyone
involved in the transaction has a copy of closing
documents so that they have three or four days
to address questions or issues. That helps to
create a smoother closing and better customer
experience, Sykes says.
" We use the digital process to enhance and
enrich the client relationship, not define it, "
he adds.
No one-size-fits-all strategy
In Beecher, Ill., $152 million-asset First Community
Bank and Trust prides itself on being
technology forward. The community bank has
offered online applications for consumer mortgages
for many years. Customers can fill out the
online application on their computer, tablet or
mobile device. The bank also offers an online
application for consumer loans, and it rolled out
a new online lending portal for its commercial
clients in early December. The portal provides
added efficiencies, such as allowing applicants
to securely upload financial documents and
enabling the loan officer to track the progress of
the application.
" Our view is that the technology is an enabler,
but it is not one size fits all, " says Greg Ohlendorf,
First Community Bank and Trust's president
and CEO. When clients reach out in person or
with a phone call, the community bank's loan
officer tells them they have the option of filling
out an application online or setting up a meeting
at a branch. Likewise, when customers first
contact the bank through an online channel, it
automatically triggers an alert so a loan officer
can call them.
The human touch is important, and Ohlendorf
believes it's important to have consistency
" During the initial
contact process with
the consumer, we can
pretty much figure out
up front what particular
service levels that a
client wants or needs. "
-J. Kenneth Sykes,
North State Bank
where the client will talk to the same one or two
people every time, rather than just a random
person at a call center. " Customers, in many
cases, want to talk to someone who is a name
and a face and not a 1-800 number or call center, "
he says.
Quick stat
71%
of mortgage
borrowers
worked with
lenders that
provided an
online portal
for sharing
documents
Source: 2018 Ellie
Mae survey
Taking cues from the customer
The digital revolution in the financial world continues
to move quickly, and community bankers
understand that more client relationships are
being built around digital service platforms. Yet
they recognize that clients have different desires
and comfort levels with technology.
North State Bank takes its cues from the
customer in how much or how little personal
interaction they want. " During the initial contact
process with the consumer, we can pretty
much figure out up front what particular service
levels that a client wants or needs, " Sykes says.
North State Bank has an assigned loan officer
on the end of each transaction who works
to personally escort the customer through the
entire loan process.
" As the mortgage process evolves, we see what
types of things could be answered best in an
email, telephone call or face to face, " Sykes says,
" or if customers want to do the entire thing on a
digital basis. "
Beth Mattson-Teig is a writer in Minnesota.
independentbanker.org Q 31
http://www.independentbanker.org
Independent Banker - February 2020

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