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Executive Banking Summit 2020: top 10 takeaways

October 01, 2020By

The Executive Banking Summit brought together over 700 bankers to a virtual event that featured two fantastic keynotes and 16 breakout sessions.

The day was full of thought-provoking discussions and important takeaways to support banks and credit unions as they begin to transform the digital consumer experience. It was wonderful to see this group come together to share insights, best practices and lessons learned with their peers.

We’ve recapped some of the key themes that were highlighted throughout the day, along with some top video moments below.

All recordings from the Executive Banking Summit are now available to download here

Top 10 takeaways and session highlights

1. Everything has changed

What we classify as “normal” continues to change and adapting to it, will be the key to our future success. Agility isn’t a trait you traditionally align to the banking industry, but COVID-19 has accelerated the necessity for banks and credit unions to be agile and to look for continuous improvement in the way they interact with their customers and members. It’s important to remember that no matter their location or communication channel, you should lead with empathy first in every interaction.

Watch the full session here.

2. Build a resilient response to provide a framework for your team to evaluate, estimate and mitigate risk

Keeping employee and customer safety top of mind should be your number one priority. Re-imagining how we interact with customers is the best way to progress with a customer-first approach. While doing that, continue to attract the right skill sets to be prepared for the next crisis, with agility, creativity and empathy.

3. Take a structured approach to reopening

Banks and Credit Unions should consider a three phase approach:

  1. Stabilization of operations and mitigation of short term risk
  2. Reopening by orchestrating a safe return to work process
  3. Growing with accelerated structural enhancements to support the growth

Remember, it’s a top priority for both your employees and customers to feel safe when returning to the offices and branches to engage with your teams.

Watch the full session here.

4. Centralize with Salesforce Financial Services Cloud

Salesforce’s Financial Services Cloud provides the technology to support traditional customer relationship management and a true digital roadmap for your customers and members. From bot technology to financial health assessments, virtual events platforms to origination systems, analytics to data integration—Salesforce as a platform has all the tools to centralize digital engagement for your organization.

Watch the full session here.

5. The best way to predict the new normal, is to create it

It’s time to bring the best minds to your boardrooms, get creative and take a look at your digital strategy with fresh eyes. The pandemic has accelerated the transition to cloud-based technology and it’s time to use it to your advantage by creating an environment where change is normal and adapting to that change is business as usual. Your customers and members are invested in their relationships with their financial institutions, be there for them with a true platform for change.

6. Consumer buying behaviour has changed with banks and credit unions

Consumers are expecting the same level of personalized engagement from their local banks and credit unions as they get from large multinational retail and lifestyle brands. This includes hyper-personalized service, engagement through multiple channels, integrated self-service and assisted services, offering the right products to the right customers at the right time and leveraging conversational communications platforms.

Watch the full session here.

7. Working with the right technology partners during this time is more important than ever

Their capabilities will augment and enhance your teams by bringing knowledge, expertise and best practice approaches that can be leveraged for quicker response times to customer needs.

Watch the full session here.

8. Banks and Credit Unions are using Salesforce for solving automation around high impact business processes

Processes for dispute resolution, compliance management, PPP applications and forgiveness processes can be simplified with automation. Salesforce provides simple to navigate input screens, the ability to surface opportunities from input data and easily reportable outcomes. What was once managed via spreadsheets and email has been centralized and automated.

9. Make your data work for you

Make data a strategic asset to create leads and opportunities. Using a tool such as Mulesoft to integrate siloed systems, allows you to bring together disparate data from around your organization. Utilizing business requirements and having the capability to query data in Financial Services Cloud will create leads and opportunities for the existing customer base. It costs an institution less to develop depth in your existing relationships then to acquire new ones.

Watch the full session here.

10. Digital transformation isn’t just CRM, it’s a digital-first journey that includes every system your customers and members interact with you on

This isn’t just about technology, it’s a cultural shift for both you and your customers. It’s important to understand the digital path your customers take to connect with you. Is it efficient? Is it effective? If not, where can you leverage your platform to centralize this digital path to create the desired efficiency and effectiveness?

All recordings from the Executive Banking Summit are now available to download here

Beyond the summit

Traction on Demand was proud to partner with Salesforce to co-host this event. We were honoured to have 17 customer speakers, great partners in nCino, Q2 and Fairwarning who participated in the day by providing action-packed sessions.

Digital transformation is top of mind; if it has accelerated how you are looking at the future, talk to us. We’re here to be your trusted advisor through this process to demonstrate best practices on the use of the Financial Services Cloud Platform and bring you quantifiable success. Reach out to have a conversation, we are here to help.

Let's talk about your digital transformation

We’re here to be your trusted advisor through this process to demonstrate best practices on the use of the Financial Services Cloud Platform and bring you quantifiable success.

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