Promontory MortgagePath’s Ken Janik and Paul Katz sit down with the ABA to discuss how community banks can leverage our solution to address mortgage challenges, reduce compliance risk and increase profitability.
BY PAUL C. KATZ Digital Transformation: The State of Play for Community Bankers Digital transformation was on the program – and on the minds of the attendees – at the American Bankers Association Conference for Community Bankers in San Diego this week. I moderated a panel featuring Bryan Luke, President and Chief Operating Officer of Hawaii National Bank, and two of my colleagues, Ken Janik and Colgate Selden. We spoke directly with conference attendees about the relationship community banks have with digital lending. Our panel – Digital Lending: Risks and Opportunities – explored the economic, technological and social forces driving digital transformation efforts. We examined different tech-implementation strategies bankers are considering and conducted real-time audience polls, providing timely insight into bankers’ thoughts on digital lending. Here are some of the highlights from Tuesday’s session. We set the stage by sharing some provocative predictions from leading industry consultants and
Bankers enjoy a dizzying array of opportunities to leverage new partnerships to cut costs, boost profits, improve technology, enhance the customer experience – and sometimes – all of the above. That’s the good news. The not-so-good news is sifting through an increasingly complex landscape of new entrants and established vendors and vetting potential partners takes time, energy, expertise and money– often more than any one bank can easily manage. This is where a national trade association is uniquely positioned to add value. It can spread research costs across a diverse membership base while evaluating best-in-class providers offering a broad range of products and services. THE ABA ENDORSEMENT PROCESS The concept behind the American Bankers Association’s due diligence process is as simple as it is successful. Its process identifies proven, reliable vendors while saving banks time and money – and uncovering areas of information that could otherwise be difficult to obtain.