2023 Community Bank Case Study Competition Journal

2023 COMMUNITY BANK CASE STUDY COMPETITION

bank’s credit and loan officers who operate in the Memphis, Tennessee, market. CBTC realizes the usefulness of hybrid work to remain competitive in operations and recruitment (Davis et al., personal communication, March 29, 2023). Utilizing hybrid work allows the credit and loan officers to be more flexible for their clients in an ever-changing market, and that flexibility has proven useful in the bank’s Memphis, Tennessee, market segment, as shown by their increased, varied client base and competitive position observed in the financial analysis of CBTC. In addition to better serving clients, hybrid work is used as a competitive recruiting tool that allows CBTC to compete with larger banks in the immense Memphis market. New Technology in the Past Five Years CBTC has undergone significant technological changes in the past five years. CBTC has adopted numerous new technologies, and many challenges were overcome when implementing these recent technologies. Several of CBTC’s technological improvements have been centered on three major factors: security, internal operations, and serving customers. One such technological innovation was the addition of a secure chat within the Bank’s Digital and Mobile Banking platforms, which provides clients with a secure method to discuss their banking needs without having to speak via phone. This offering is only available after the client has successfully authenticated to the Digital or Mobile Banking platform and all discussions are contained within the encrypted

CBTC has undergone significant technological changes in the past five years.

Post-Pandemic Flexibility CBTC returned to fully in-person operations at its physical locations post-pandemic, and remote work is utilized only if no other options are available. During the pandemic, CBTC rotated operation schedules so that many of the bank’s employees worked remotely when required. However, during that time, the bank’s executive team realized that depending on remote work limited the employees’ opportunities for the potential organic learning aspect of individuals working and interacting among one another, and this situation led to a learning deficit for the banking staff. Moreover, CBTC’s executive team realized the bank’s employees wanted to work in-person, build relationships, and learn through interactions and conversations. Relationship building is a priority of CBTC, and banking is a business that revolves around the people it serves. Without people working in the bank, limitations are placed on learning, relationship building, and extending proper customer service. CBTC is currently capitalizing on the use of hybrid work (employees have some work from-home days) for a specialized group of the

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