Leaders in Lending | Ep. 65: Partnering to diversify the portfolio and expand into new products

It’s a changing world. You can’t do business as usual and expect it to continue to work for your customers.

That’s why innovation around new market approaches is more crucial than ever, and that doesn’t happen by accident. Instead, it requires investment in new technology and the right team to understand and navigate it. David Houchen, Senior VP and CFO at First Federal Bank of Kansas City, explains that lenders can’t be offering the same things they did 15 years ago and how partners open the door for new product offerings.

Innovation in banking: from weakness to potential advantage

David Houchen admits that banks are typically not the first to adopt technology or create innovation. However, there is a growing cry for changes within the banking industry.

Rather than working through new technology adaption or innovation development without support, it can be beneficial to partner with outside organizations with experience in specific system development and adaptation that banks are looking to adopt.

 

continue reading »