'Batch Is Dead!': Comments of the Week
March 4, 2016 7:30 AM
American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
A reaction to an op-ed on the imperative for banks to replace their legacy core systems:
"Batch is dead! Legacy core systems, and any back-office operational functions such as collections that rely on outdated technology/infrastructure, can't compete with modern technology from a cost, speed, and performance perspective. We now live in a world of 'instant,' and as such, 'real' real-time transfer, process, and updating of customer/system information is critical for financial institutions to compete and grow."
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On the rise of Donald Trump to frontrunner status for the GOP presidential nomination:
"Trump is smarter than any candidate out there and will do what is best for the financial services industry as part of his business skills in bringing back the economy. The Democrats brought you Dodd-Frank. Don't forget that."
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On how bankers would handle a Trump nomination:
"How could a responsible banker want a serial bankruptcy filer to be president?"
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In response to an op-ed calling out CIT for an inadequate Community Reinvestment Act plan:
"Alas, like many such figures associated with the industry's arrogance, [CIT CEO John Thain] has gone on to prosper, and will now sit pretty with an extravagant retirement package. The bank he has been leading, meanwhile, appears to [be] as insensitive to the needs of the community it serves as was the bank it is acquiring."
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On the ways small banks are different from megabank branches in their local communities:
"Bottom line: community banks that invest and commit to make their service and products better to compete on the premise of a better customer experience rather than the 'bank with us because we're local' premise will be the winners."
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A commenter questioned whether bank size determines quality of community presence:
"I can show you branches of megabanks with fantastic, community oriented staff in them. I can show you 'community bank' branches that look and act like old DMV offices.
And vice versa. It has little to do with the size of the operation and everything to do with local management. And yes, even megabanks have local management."
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On how happy bank employees can help generate more business:
"The days are long gone when you simply told people what to do and they complied without question, complaining or need for engagement. High quality customers and employees are in top demand; a positive, engaging and happy culture can make all the difference in the world. Leadership creates the culture and to do that requires transparency, openness and collaboration."
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On the argument that bankers should be reluctant to embrace Trump as the Republican candidate:
"Republicans are reaping what they have sowed for the past eight years with constant negativity, no constructive policies, and a failure to deal with the rabble rousers within their ranks. Banks are actually in much more danger under Trump than under even Sanders."
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