Five characteristics of the future ‘smarter bank’ organization
Tomorrow’s 'smarter bank' leaders will cultivate managed chaos, inspire creative thinking and encourage results-driven action.
For some time, Cornerstone has been talking about the “smarter bank,” focusing on how our clients must use new skills, knowledge, technology and information to complete the long and tough transformation to the future delivery model. In November, my partner Steve Williams wrote about the Pillars of Smarter Bank Leadership. Today, we are going to look at the smarter bank through another lens: What are things we will see in the future smarter bank organization? What will be key corporate personality traits? To answer these questions, we offer five characteristics of the future smarter bank.
1. Horizontal accountability is as clear as vertical accountability
My partner Al Dominick has often said that banks need to transform while they perform. Accountability for many aspects of traditional performance can be seen in the traditional vertical organization chart. Most of us could quickly figure out who is responsible for major components of profitability—lending and deposit growth, credit quality, wealth advisory growth, fee income and fraud mitigation, to name a few—by looking at the names on an org chart.
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