For years, I operated under the assumption that bank directors and C-suite officers don’t like technology stories. But the list of the top BankDirector.com articles published this year that were written by Bank Director staff tell a different story.
Among the top 10 articles of 2022, as of Dec. 8, were Emily McCormick’s No. 2 piece “What the Heck Is Web3?” as well as the results of Bank Director’s 2022 Technology Survey and Kiah Lau Haslett’s “What to Consider as Regulators Scrutinize Bank-Fintech Partnerships.” Perhaps it’s a sign that times are changing: C-suite officers and directors really do care about technology and the impact on their businesses. Perhaps it’s a sign that BankDirector.com articles are reaching a wider audience. But the list does have some perennial favorites.
Our annual Compensation Survey is always popular and was the No. 1 editorial article published this year. It offers industrywide data on board compensation and CEO pay, including compensation for private banks, which is hard to find elsewhere. The top stories also included the results of our annual RankingBanking analysis of the best banks in the nation, as well as Laura Alix’s profile of Synovus Financial Corp. and Jack Milligan’s article about Valley National Bancorp, both of which transformed their business models.
Here’s the list:
1. Compensation Survey Results: An “Untenable” Talent Climate
Intensifying competition for talent is forcing banks to pay up for both new hires and existing employees. There were two jobs for every job seeker as recently as March , according to the Bureau of Labor Statistics, and employers of all stripes may be feeling like the balance of power has shifted. The results of Bank Director’s 2022 Compensation Survey, sponsored by Newcleus Compensation Advisors, show the banking industry is no exception to these dynamics.
2. What the Heck is Web3?
With increased interest around Web3, making sense of the latest and newest technology trend — and its potential impact on financial services — could add value to strategic discussions as leadership teams and boards consider their long-term strategies.
3. Building a Powerhouse at Synovus
Banks and cars may make for a funny comparison at first glance, but it makes sense when Kevin Blair talks about Synovus Financial Corp.’s evolution.
4. How to Build a Bank From Scratch
Corey LeBlanc is best known as the man behind the @InkedBanker Twitter handle, inspired by his affection for tattoos. He’s also cofounder, chief operating officer and chief technology officer of Locality Bank, a newly chartered digital bank based in Fort Lauderdale, Florida.
5. How One Midsized Regional Bank Separates Itself From the Competition
When Ira Robbins took over in 2018 as CEO of Valley National Bancorp, one of his highest priorities was to broaden the bank’s strategic focus into new product and customer segments where it could be a meaningful player.
6. Do Banks Pay Women and Minorities Less?
Among the many attributes of community banks is that they tend to focus on creating great places to work. They contribute to local organizations and encourage staff to stay active in their communities. They often offer regular work hours. But, when it comes to pay equity, they have work to do, according to Christie Summervill, the CEO of BalancedComp.
7. 2022 Technology Survey Results: Investing in Banking’s Future
In mid-July, at the peak of second quarter earnings, large regional banks showed off an array of technology initiatives. … Bank Director’s 2022 Technology Survey, sponsored by CDW, delves into some of these strategies, asking bank senior executives and board members about the concerns and challenges that their institutions face, and where they’ve been investing their resources in technology.
8. What to Consider as Regulators Scrutinize Bank-Fintech Partnerships
Fintech partnerships, specifically banking as service arrangements, are changing the risk profile at community banks and require heightened risk management from executives and the board.
9. Should Your Bank Hire an Influencer?
Banks looking to reach a niche or younger demographic may want to consider partnering with a trusted voice: an influencer.
10. RankingBanking: The Banks That Hit It Out of the Ballpark
When Mark Fitzgibbon was asked in early May whether the industry was near the top of an economic cycle and headed down, his mind went to baseball. “We’re certainly not in the first, second, third or fourth inning,” says Fitzgibbon, the director of research for the investment bank Piper Sandler & Co. “I think we’re close to the top of the cycle.”