Streaming Now: The AOBA Summer Series

Dreaming of a trip to Phoenix, and the Acquire or Be Acquired Conference, next January doesn’t seem so odd this summer.

WORKING FROM HOME — For decades, business leaders began to book their travel to the Arizona desert — for Bank Director’s Acquire or Be Acquired Conference — in early August. As evidenced by the nearly 1,400 at the Arizona Biltmore earlier this year, the annual event has become a true stomping ground for CEOs, executives and board members. Many laud it as the place to be for those that take the creation of franchise value seriously. I’ve even heard it referred to as the unofficial kickoff of banking’s new year.

Just seven months ago, Acquire or Be Acquired once again brought together industry leaders from across the United States to explore merger opportunities, acquisition trends and financial growth ideas.  With 418 banks represented, participants considered strategies specific to lending, deposit gathering and brand-building. They talked regulation, met with exceptional fintechs and networked with their peers under sunny skies.

Not one openly worried about a global pandemic.

Yet here we are, all of us dealing with fast-moving challenges and unimaginable risks.

So what can we do to help?

This is the question that proved the catalyst for our new AOBA Summer Series.  Indeed, we created this free, on-demand, compilation of thought leadership pieces to provide pragmatic information and real-world insight.

With CEOs and leadership teams being called upon to make decisions they have never been trained for, we realized the type of information typically shared in January has immediate merit this summer.  So instead of waiting until winter, this new Summer Series provides both color and context to the tough decisions — those with profound long-term consequences — that confront executives every day.

Ten videos comprise the AOBA Summer Series, with topics appropriate for the C-suite’s or board’s consideration.  Streaming on BankDirector.com, we talk about how important scale has become in the banking industry… how one’s technology strategy cannot be delegated… how it certainly seems that there will be banks that come out of this in a bigger, stronger state.  Here’s a screen-grab of what you’ll come across:

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In one-on-one conversations like these, we acknowledge how net interest margins are compressing — which will drive up efficiency ratios — and credit costs are climbing.  And we look at leadership, appreciating that many are leading in new, more positive and impactful ways.  In addition, this new series provides:

A SNAPSHOT ON CURRENT CONDITIONS
At our January Acquire or Be Acquired Conference, Tom Michaud, President & CEO, Keefe, Bruyette & Woods, A Stifel Company, provided his outlook for the industry. Now, we ask him to update his perspectives on M&A activity and share his take on the potential implications of the pandemic.  

HOW FINTECHS FIT
A growing number of technology companies have been founded to serve the banking industry.  Not all of them have what it takes to satisfy bankers.  During various sessions we learn how a variety of banks approach innovation — and the specific attributes a leadership team should look for in a new fintech relationship.

THE LEVERS OF VALUE CREATION
With nCino’s CMO, Jonathan Rowe, our Editor-in-Chief talks about the levers of creating value vis-a-vis the flywheel of banking. Together, they explain how certain technologies promote efficiency, which promotes prudence, thereby promoting profits, which can then be invested in technology, starting the cycle all over again.

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Hearing from investment bankers, attorneys, accountants, fintechs, investors and — yes, other bankers — about the outlook for growth and change in the industry proves a hallmark for Acquire or Be Acquired, be it in-person or online. 

As this new series makes clear, The future is being written in ways unimaginable just a few months ago.  We invite you to watch how industry leaders are making sense of the current chaos for free on BankDirector.com.

Welcome to the Arizona Biltmore and Bank Director’s 22nd annual AOBA

As we prepare to kick off this year’s Acquire or Be Acquired conference, I offer my take on one theme I anticipate being brought up early — and discussed often: the return of regional acquirers who are positioning themselves to challenge the true big guys in banking.

Main Areas of Focus for a Bank’s Audit and Risk Committees

What’s top-of-mind for a bank’s Audit and Risk committee members?  Let’s start with cyber security…

By Al Dominick // @aldominick

There are many challenges that bank boards & executives must address, and these two videos (one by our editor, Jack Milligan; the other, by me) briefly review current issues that demand attention + emerging ones that we took note of at this week’s Bank Audit & Risk Committees Conference at the JW Marriott in Chicago.

*For more on the risks facing banks today, take a look at this report from our conference (#BDAudit15).

From Bank Director’s 2015 Acquire or Be Acquired Conference: The “New Consolidators” (Video)

To kick things off today, we took a look at those banks reshaping the banking industry.  With M&A providing an avenue for banks to drive improved operating leverage, earnings, efficiency and scale, we focused on the emergence of mid-sized regional banks that are growing through the consolidation of smaller banks.  My thanks to Jack Kopnisky, President & CEO, Sterling National Bank & Sterling Bancorp (NYSE: STL), Ben Plotkin, Vice Chairman of the Board, Stifel Financial Corp (NYSE: SF) and Frank Sorrentino, Chairman & CEO, ConnectOne Bank (NASDAQ: CNOB) for sharing their time and opinions in their session entitled “The New” Consolidators this morning.

To Zig or Zag

While President Obama’s nomination of Federal Reserve Vice Chair Janet Yellen to lead the central bank garnered significant attention this week, the twittersphere was ablaze with news on emerging payments and financial services.  Personally, I focused a lot of my time on retail banking, advertising and marketing stories — a pleasant diversion from the political showdown here in Washington.  Accordingly, this week’s column highlights the creative side of building relationships and engaging with potential customers.  Please let me know what you think via Twitter (@aldominick) or by commenting below.

(1) How Do You Introduce a Mobile-Only Bank? With a Mobile Orchestra, Of Course.  Now, I realize most banks in the U.S. have nowhere near the budget needed for an advertisement like this. Still, BNP Paribas‘ “Hello Bank!” — which claims to be Europe’s first fully digital mobile bank — pulls off “a smart orchestra stunt.” According to AdAge, “the campaign brought together the talents from the musical and tech world for a one-of-a-kind performance by the orchestra that showed what you could do with just your mobile phone.”  Taped during a performance in Prague, the Czech National Symphony Orchestra’s 60 musicians put aside their instruments for a special performance of “Carmen.”  Take a look:

(2) From your ears to your eyes, a test of your social media savvy: #PACYOURBAGS. Do you get the hashtag?  Here’s a hint: this is a promotion run by Bank of the West (a wholly owned subsidiary of BNP Paribas).  Still confused?  While many still wrestle with a social media strategy, the San Francisco-based bank has taken to Instagram and Facebook to offer exclusive Pac-12 content — including news, events and videos — to better engage with current and potential customers under this hashtag.

Bank of the West hashtag

Visit their Facebook page and you’ll be invited to “capture any great moments from this week’s college football games… Tag them with #PACYOURBAGS on Instagram to enter and you could win $250 and a trip for two to the Rose Bowl Stadium on 1/1/14!”  Dare I say, #Cool.

(3) From Prague to the Pac-12, we’ve covered a lot in a short amount of time.  To wrap things up, let me share a story closer to home.  This one involves a few plucky upstarts taking on the biggest of the big.  No, this isn’t a tale of a community bank competing head on with Bank of America; rather, a link to an article that shows multiple startups trying to disrupt various sectors within the consumer goods industry.  Much like their BofA and Wells Fargo brethren, P&G and Unilever “have scale but are under constant assault from savvy upstarts.”  Yes, I’m drawing a parallel between the razor blades you might find in your bathroom to the battle for bank customers vis-a-vis “How Tiny Startups Like Hello and 800Razors Are Stealing Share From CPG Giants.” The premise: “smaller brands’ ability to break through goes to digital disruption in media and retailing.”  An interesting parallel, especially for those bankers willing “to zig away from the strategic and creative zags of category titans.”

Aloha Friday!