How to win in the fintech olympics

Are you wondering how to help your financial institution better compete in the changing online banking landscape? Maybe you’re concerned that the shift of consumers toward Fintech online-only banks might eventually drive your FI out of business? (If not, maybe you should be concerned.)

Well here’s a few tips for how to position your institution for Fintech [Olympic] success!

1. Training is Key

In the regular Olympics it takes years of training for athletes to reach their peak performance level. But in today’s consumer banking environment, most FIs don’t have years to get their act together. So here’s a little secret… because your staff are the key to your overall success, investing in regular, high quality training now can go a long way to setting you up for future success.  And a well-trained workforce will be absolutely essential in the new digital banking market place.

Conversely, sitting back and allowing your employees to enjoy the current status quo will have the inverse effect. We suggest that FIs require all staff to do real, meaningful continuing education. Push them to attend at least one national conference each year and take some kind of new certification or training. One of the best ways to stay ahead of the game is making sure your staff are up on new trends and technological innovations, and that doesn’t happen by accident. Training is everything!

 

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