Predictions for 2019

As earnings pressures build in 2019, banks will shift their digital priorities. They will place less emphasis on customer experience improvement and more emphasis on driving efficiencies across the business via robotic process automation, AI, chatbots, digitized lending platforms, etc. ROI on these digital investments will be increasingly realized through expense reductions in the form of fewer operational, transactional, service FTEs. ~ Mary Beth Sullivan, CPG

Digital-only banking platforms will continue to demonstrate robust growth of consumer deposits because that operating model offers consumers both convenience and higher rates.  Consequently, 2019 will see more banks launching digital-only solutions. ~ Kevin Halsey, CPG

By early next year, the economic stimulus from the corporate tax cut will have abated and GDP growth will fall below 2 percent.  Therefore, loan growth will replace deposit growth as the industry’s top strategic priority in 2019. ~ Mark Gibson, Consulting Associate

A generational difference will develop as Boomers opt for face-to-face, personal service over mobile banking and impersonal technology.  This will lead to a resurgence in the popularity of community banks as a segment of the population becomes increasingly dissatisfied with the impersonal service of large banks. ~ Christine Corso, Consulting Associate

Community banks will find it even more difficult to successfully recruit experienced loan officers and credit analysts that fit the organization’s culture. Consequently, more banks will begin to “grow their own” using structured and customized personal development plans, computer-based training, webinars, in-house facilitated programs and internal mentors.
~ John Barrickman, Consulting Associate

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