Bankers everywhere want to improve efficiency, and last month's Retail Delivery Conference gave them no shortage of ideas on how to do it.
From beginning to end, the Bank Administration Institute's flagship show reminded those attending that the future lies in electronic delivery channels that will improve service while reducing costs. And judging by the conference's attendance total (more than 7,000), many are eagerly looking forward to the era of virtual banking.
This month's cover story on North Fork Bancorp. is a counterpoint to the hoopla surrounding the conference's focus.
The Melville, N.Y., banking company had the best efficiency ratio of any institution in American Banker's annual survey, and its chairman and chief executive, John A. Kanas, attributes much of his success to a technology strategy that does not look too far into the future.
Mr. Kanas, whose bank has $4.1 billion of assets, views technology as a means to an end, not an end in itself, and he invests carefully in technological hardware. The bank operates automated teller machines but not too many; it has a call center but considers its branches to be the main delivery channel.
In short, Mr. Kanas is representative of a group of bankers that cannot afford to be on the bleeding edge of technology, that is trying to find ways to improve performance but cannot wait too long for an innovation to pay off.
Time will tell whether his story proves a cautionary tale or a "how- to" guide to midsize bank success.
As always, let us know what you think.
