2023 Community Bank Case Study Competition Journal

SECOND PLACE: Iowa State University

Part III: Training & Technology Training Halterman emphasizes a people-oriented focus for both his customers and employees. PSB supports staff growth and continuous learning through tools provided by the American Bankers Association (ABA). The programs allow employees to refine their skills in finance at their own pace through training and licensure programs. If bank employees need a more structured training or certificate program, ABA resources are flexible to meet those needs. Along with training provided by the ABA, PSB offers a structured internal training path specific to the employee’s position during their first year. This allows employees to polish capabilities to match the structure and processes of PSB. In addition to the ABA and first-year training, Halterman’s team uses local organizations like the Iowa Bankers Association (IBA), which encompasses training in customer service and technical skills specific to their role at PSB. The bank highly encourages all employees to enhance their skill set through continuous learning, such as the aforementioned Path to Achievement program. This development pays dividends with a better developed and confident employee base. New Technology Halterman speaks of making his luck, but in terms of new technology rollouts, he might be one of the luckiest. Online banking and virtual tellers have become increasingly popular in the banking industry in the last decade. Based on his knowledge of the bank’s customer base,

Halterman decided virtual tellers were not something PSB would adopt. Instead, he shifted toward online banking, while keeping its in person tellers focused on genuine customer service. PSB rolled out online/mobile banking (branded E-Branch) in February 2020, one month before COVID-19. This introduction proved to be very popular with the current client base and successful in bringing in new customers during unpredictable times. This popularity is consistent with banked households nationwide, as indicated by a recent FDIC survey which indicates online/mobile and mobile banking is the most common method used to access bank accounts. The survey indicated a sharp increase between 2017 and 2021 and remains the most prevalent method of account access. The roll out of online/mobile banking one month before the pandemic assisted in the transition to the resulting work-from-home culture. Employees and customers had just enough time to get comfortable with online/

The bank highly encourages all employees to enhance their skill set through continuous learning, such as the aforementioned Path to Achievement program.

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