Independent Banker - July 2021 - 26

PORTFOLIO
phone, as they can with many national
pizza chains, Wrbanek says, why
shouldn't they expect to do so for a car
or home loan?
While we think of primarily
younger customers having these
expectations, Bohne says community
banks shouldn't discount older
borrowers as digital-fi rst customers.
" Millennials have expectations that
things are easy, fast and effi cient, and
they're willing to ask for and demand
them, " he says. " The rest of us love
what the millennials want. We just
didn't know we could ask. Every
generation has an aptitude and desire
to use fast and effi cient tools. We've
seen adoption across the full spectrum
[of ages]. "
Streamlined communication
Digital loan platforms allow borrowers
to work on or check in on their loans
when it's convenient to them, not just
when the bank's open and their loan
offi cer is at their desk. " Everybody has
their phone on them all of the time, "
Bohne says. " We think we've got a
banker sitting in their pocket all of the
time to fulfi ll their needs. "
" Millennials [expect] that things are easy, fast and
efficient, and they're willing to ask for and demand
them. The rest of us love what the millennials want.
We just didn't know we could ask. "
-DAVID BOHNE, BROADWAY BANK
Bank of Travelers Rest in
Travelers Rest, S.C., kicked off its
digital loan process fi rst by off ering
credit cards and overdraft protection
and then consumer auto, RV and
personal loans. The $1.1 billionasset
community bank began with
diff erent segments of customers; fi rst
existing bank customers only, then
those who already had login details
for the bank's digital platform. " We
used that as our training wheels to
get used to the program, " says Matt
Verley, senior vice president and
relationship banker.
The community bank has since
opened up its digital loan process
to all residents in fi ve surrounding
counties and has moved portions of
its mortgage lending process online.
Verley says some younger borrowers
are not as comfortable coming into
the branch or even talking with bank
staff over the phone.
" They want to apply for a loan at
11 o'clock at night or six o'clock in the
morning, " he says.
That means outreach and
customer service are changing in
step with customer expectations. In a
November 2019 white paper, Finastra
found that 51% of consumers felt
comfortable entirely engaging via
website chat.
That doesn't mean community
bankers should stop working on
their phone skills or valuing personal
relationships-far from it. But they
should be ready to meet borrowers
where they're most comfortable,
according to Steve Hoke, vice
president, general manager, mortgage
& commercial lending of Finastra,
who is based in Madison, Wis.
" You've got to meet the customer
where they are, " he says, " and answer
their questions and educate them
where they are. " 
Jen A. Miller is a writer in New Jersey.
26 Q ICBA Independent Banker Q July 2021
Photo by Tetra Images/Getty Images
Independent Banker - July 2021

Table of Contents for the Digital Edition of Independent Banker - July 2021
