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The Purposeful Banker

The Purposeful Banker podcast is focused on the issues, industry topics, and concerns on the minds of bankers, especially in the commercial lending market. From pricing tips to market trends to business strategy, listeners get insightful, concrete information to help them build stronger financial institutions.
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Now displaying: Page 12
Jan 11, 2016

According to the research of Stephan Liozu, author of "The Pricing Journey," there are two dimensions of pricing capability, Price Setting and Price Getting, and in order to excel at pricing, companies must master both dimensions.

Jan 4, 2016

What makes lenders happy at work? According to CoBiz Financial, named one of American Bankers' top 50 Best Banks for Work for in 2015, the key is providing lenders opportunities to deepen client relationships through exciting community initiatives. Jess Stone speaks with Scott Page, CEO of Colorado Business Bank and Arizona Business Bank, which are part of parent company CoBiz Financial, about the programs they offer to keep their employees happy and connected to the community, as well as advice for banks that may want to launch similar initiatives. 

Dec 28, 2015

What's one of the scariest things that keeps a bank CEO up at night? Two words: data breach. PrecisionLender's Vice President of Information Security, Chris Nelms, talks with Dallas and Jess about how to ensure your company's security while working with vendors.

Dec 21, 2015

Jessica Stone speaks with PrecisionLender's VP of Information Security, Chris Nelms, about what you can do ensure the safety of your technology and data. Although every bank is different, your IT person will surely love you if you heed this advice.

Dec 14, 2015

In normal business, if you're right 95% of the time, you're a huge success. In banking, if you're only right 95% of the time, you're probably out of business.

That risk means that banks and bankers are cautious when making decisions, and for almost every bank that means decisions are ponderously slow. To the general public, that's how businesses worked last century. Banks are starting to be seen as laggards compared to some of their FinTech competitors.

Dallas talks though how your bank can start using the time tested "Scientific Method" to start picking up speed and also start making better (data driven) decisions.

Dec 7, 2015

Joel Rosenberg talks with Jessica Stone about the fundamental shift that is moving the world under the feet of the US banking industry.

Is the way your bank looking at Lending Club eerily reminiscent of the way GM and Ford looked at Honda in the early 1970's?

Nov 30, 2015

Carl Ryden, CEO at PrecisionLender, talks about their new banking conference, BankonPurpose. Why he felt there was a need for a new conference and what he hopes bankers will get from it.

Nov 23, 2015

Telling people that their data is "in the cloud" can seem like a weird movie scene, but it's usually the safest and easiest option. There's a reason most of the world's biggest companies are moving to the cloud.

Nov 16, 2015

A couple of weeks ago we released part one of our discussion with Charlie Johnson from Flagstar Bank in Michigan and and Andy Max from First National Bank of Omaha, and their efforts around integrating Salesforce.com within their banks. Because we just let them talk, we ended up with about 90 minutes of gold.

Part two is where the guys talk about social "listening". Flagstar Bank started with Radian6 - which was purchased by Salesforce a few years ago and now fully integrated within their Marketing Cloud.

Andy and Charlie both agree that your bank's brand is no longer wholly in your hands. The social side of brand strategy in the fast-moving, 21st century digital landscape is a place of enormous opportunity as well as fraught with peril.

Nov 9, 2015

Dallas Wells and Jess Stone speak with Bill Ragle, SVP at Comerica Bank, about his experiences managing a lending team, and his experience and advice for managers and lenders alike.

Nov 2, 2015

We all wish we had more time in the day. During this LenderPerformance podcast, Dallas and Jess will explore tips, review technology and share best practices on how lenders can aim to be more efficient at work. 

Oct 26, 2015

Jess Stone interviews Brandi Haymore to discuss conferences. Banks spend big money sending employees to conferences, and often feel like they get very little return on their investment. However, they can be a great resource for the bank, and attendees that leverage the connections and knowledge properly can see big impacts on their careers. Brandi will share thoughts on how to prepare, what to do while you're there, and how to share and implement the best ideas when you return.

Oct 19, 2015

Implementing a CRM system in a bank can have tremendous value, but it is also incredibly hard to get it right.  Charlie and Andy will share some first hand experience in what worked and what didn't, and more importantly, what they wish they had known when they started.

Oct 12, 2015

Almost every community bank in the country claims to differentiate themselves through superior customer service. How do you define customer service? More importantly, how do we actually go about providing it instead of just talking about it?

This week, Jessica Stone joins Dallas Wells in discussing the overarching concept of customer service and also the specifics of customer service in the banking world.

Oct 5, 2015

McKinsey's study of the S&P 1500 companies that found a 1% improvement in pricing would generate an 8% improvement in operating profits is something that we love to share. What we hear more often is how banks are focused on cutting costs. Cost cutting is seemingly always the first club out of the bag, but why?

If your bank has a commercial loan portfolio of $500 million, a 1% improvement in pricing translats to 4 basis points, which is $200k per year on that portfolio. A commercial loan book usually turns over quickly, meaning you can get to those results faster than in banking than other industries. For this fictional bank, it would take less than 20 months to hit that number.

In this episode Dallas Wells and Al Pacino talk about the game of inches, and why it's those inches that make all the difference.

Sep 28, 2015

Dallas Wells talks about the 3 biggest problems he sees while working with banks trying to take their lending to the next level.

Sep 7, 2015

Who are the Mad Men characters in the stereotypical bank? In this light-hearted Labor Day special, we'll poke some fun at the stodgy "old boys' club that still runs a lot of banks, and to point out how they are being left behind by the new way of thinking.

Aug 31, 2015

A disclaimer, and that is that I am much more of a banker than a techie.  I'll be explaining this in layman's terms, but that is mostly because those are the only terms I have for it.  I work at a software company, but the only code I've ever written was a couple of very buggy macros for Excel.  So instead of the techie angle, I am tackling this issue from the business perspective, which is generally where bankers are coming from. 

Aug 24, 2015

We think of pricing as your steering wheel for the bank.

It should be the mechanism by which you are guiding production onto the books, but a lot of times it just doesn't feel that intentional. 

The car itself is doesn't feel attached to that steering mechanism. The lenders are just going about their business pricing deals the way they've always priced them, or they're coming in after the fact and putting in the terms that they've already promised into the pricing system and then we're giving them a report card on how well they did in that pricing discussion, or often how bad poorly they did.

There's a better way.

Aug 17, 2015

As we've asked bankers about topics and ideas that we should be covering with these podcasts, there is one answer that is almost universal, and that is HELP US WITH SALES.  Every bank out there is thinking about growth, and loan growth specifically.  Even those that are hitting their numbers have to work really hard to get there.  Banking is a highly regulated and seemingly commoditized business, so those that win have to do so with a purposeful and well executed sale strategy.  So, to that end, we've talked about business development, we've talked about building relationships, and today we are going to talk about managing a pipeline.

Aug 10, 2015

Today, we're going to take a little bit different approach.  PrecisionLender has a customer success team, which happens to be where my role fits. Our job is a little more low-tech.  Specifically, we spend big chunks of every day on the phone with lenders.  Those conversations cut a wide swath, as they range from talking big picture strategy with management teams to talking through the mechanics of individual deals.  But, a recurring theme is looking for ways that banks, especially lenders, can build stronger relationships with customers.  Obviously ours is often pricing focused, around what we call "weaponizing the math" to find a workable deal that is hand crafted for a borrower.  But, we also hear a lot of tips of the trade, which is our topic for today: we're going to talk about some specifics on building stronger relationships.

Aug 3, 2015

High-performing banks are making significant investments in integrated systems that push the focus upstream, toward the lender-borrower relationship.

Integrating your bank’s pricing with leading CRM systems (e.g. Salesforce, Microsoft Dynamics, etc.) create richer opportunities for lenders and allow comprehensive reporting for management. This significantly increases the “R” in your ROI for each one of those systems.

This week, we’ve stolen one of the PrecisionLender Development podcasts (from May, 2015) that talks about how we think about integrating our specific solution with Salesforce and Microsoft Dynamics.

Jul 27, 2015

In this episode, we'll be talking about what we're learning from looking at the data from the $11 billion dollars in loans and deposits that go through the PrecisionLender system each month.  What do the numbers tell us?  What intuitive conclusions were wrong, and which were dead on?  To help answer those questions, I'm joined today by Laura Jackson. Laura is the PrecisionLender Data Scientist in residence and has been charged with the very broad task of figuring out what the data is trying to say.

Jul 20, 2015

One of the overwhelming trends in banking that lenders have had to deal with over the last several years is the mass exodus away from variable rate financing.

With rates at generational lows across the globe, any borrower worth his salt is asking for (and getting) long term, fixed rate deals.

In order to compete, lenders have had to stretch beyond the typical comfort zone at many banks.  With that stretch comes the next obvious question.  How the heck do we hedge some of this risk so that we can keep booking deals without putting our balance sheet in a really ugly position?

Jul 13, 2015

Because PrecisionLender watches about $10 billion in loans and deposits flow through our pricing solution, we get to see a lot of great things.

Starting today, we want to start sharing some of that aggregated data with you and what it means.

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