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5 Tools Everyone In The Banking Industry Should Be Using

Posted by Megan Plis on 11/16/16 11:32 AM
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You see some people using them, and they're working great. Why isn't everybody already on board? Maybe the tools are brand new. Perhaps they're too expensive. Who knows, they might be really exclusive.

Except, most of the time, they're not. So, what keeps people from getting their hands on the best time-saving tools in the banking industry?

Free 5 Tools Infographic!

Honestly, your guess is as good as mine. However, what I can give you is the top 5 tools everyone in the banking industry should be using and aren't.

1. Social Media

With all of the well-deserved buzz surrounding social media, you shouldn't be surprised to see it at the top of the list. Sadly, not all banks and banking professionals have gotten started with social media. Others simply haven't taken full advantage of all that social media has to offer. If you want some great tips on getting started, check out #BankSocial and our other blog posts.

2. Online Banking

Okay, okay. More banks are moving forward with their online banking capabilities, I agree. But there is still a huge amount that is left to be desired by many banks' online banking sites (and use of fintech in general). Here are a few examples courtesy of @MakeUseOf:

  • Easy Account Creation
  • E-Statements
  • Automatic Bill Payments
  • Mobile Check Deposit
  • Secure Message Alerts
  • Report & Management Tools
  • Desktop Software Integration

3. Mobile Apps

This could be in the online banking category, but it's such a great opportunity for banks right now that it deserves its own spot. Imagine your bank having a whole clickable thumbnail on thousands of customers' phones that leads directly to your bank's own mobile application. Yeah, it's possible. And yeah, it's really awesome. If you want to read more into this often missed opportunity, check out this article by The Financial Brand.

4. Budgeting & Planning Software

Please tell me you're not still using Excel to budget and plan for your bank. If you are, consider doing you and your bank a favor. Invest in a system designed to save you time (and frustration) while still getting amazing data you might not have known was possible. There are a lot of systems, so do your research to find the best one for you!

5. Risk Management Software

Again, put the Excel sheet away for good. It's worked hard and deserves a nice retirement anyway. Like budgeting and planning software, risk management software will save you a ton of time and get incredible results. Examiners will also be thrilled when you upgrade to a trustworthy system. And remember, if you don't want to do it yourself, you can always outsource. Just do your research and reach out to trusted advisers for help.

And don't forget to download your free copy of my 5 Tools Infographic!

Free 5 Tools Infographic!


Topics: community bank interest rate risk, social media for community banks, community bank planning software, social media, community bank budget software, fintech

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