Pub. 5 2015 Issue 4

the strength of their customer experi- ence. Fast, simple transactions are what makes them popular. Banks must also refine the use of technology to be more on-the-spot when making loan offers. If fintech companies can simplify and streamline the process, so can we. Improve The Experience. Not only should we make it easy for a customer to apply for and obtain credit, we must care as much about responsiveness as we do risk and com- pliance. Combining better customer service with face-to-face relationships allow us to excel in an area that cloud- based companies can’t match. Small bank or large, improving that overall experience should be a priority. Fintech companies provide a transaction; we can provide a larger experience with deeper benefits to the customer. There’s no reason we can’t be leveraging the very same technology advancements fintech companies use. Take Advantage Of Big Data To Coach Our Customers Banks must also be proactive in their assessment and forecasting of customer needs by monitoring where they are in their business life cycle, and proactively putting suggestions in front of them. We can’t wait for them to come to us, but instead build on that banking relation- ship to be intimately involved with their asset management, business growth and operational decisions. Viewing big data as a research tool to better understand our customers and their businesses helps us become a stronger partner, while lightening the burden of random outreach in favor of a more automated process to identify potential triggers and signals. Rather than viewing big data as an intimidatingly massive data dump, we can sift through available information to identify customer needs, and spot- light where they are in their business life cycle. Instead of making that “just checking in to see how you are doing” call, data allows us to know exactly when their financial status is about to change, and react accordingly. It marries timing with need. And isn’t that what “uberization” is all about? Jerry Ernst is president of Horizon Community Bank. Recently ranked as an Arizona Top 10 Lender by the U.S. Small Business A s s o c i a t i o n ( S B A ) , Ho r izo n Commu ni t y Bank is a locally owned and operated bank with branches in Fort Mohave, Lake Havasu City, Mesa, Parker and Quartzite. n “UBERIZATION“ — continued from page 21 Buchalter Nemer welcomes Jeffrey Ekbom, Esq. Jeffrey addresses the issues that the banking industry faces every day, including: • Commercial & Industrial Loans • Commercial Real Estate Loans • Corporate Finance • Syndicated Loans • Enforcement of Loan Obligations, including workout and foreberance agreements, and foreclosures Los Angeles NapaValley Orange County San Francisco Scottsdale www.buchalter.com Jeffrey Ekbom, Esq. 480.383.1821 jekbom@buchalter.com 16435 North Scottsdale Road, Suite 440 Scottsdale,Arizona 85254-1754 22 www.azbankers.org