BlackFin Group, a management consulting firm serving the mortgage banking industry, called together its Innovation Leadership Cohort (ILC) for the second time last week to discuss a range of industry issues.
The ILC is composed of notable industry leaders from regional, state and community – banks, credit unions and independent lenders and the technology and settlement services firms that support them. The company established the group last October to serve as an industry think tank.
“Today, there is a demand among executives to band together to understand and advance innovation in the financial services industry,” said Mark Dangelo, chief innovation consultant for BlackFin Group. “For leaders in these institutions, the struggle is knowing how to adapt to change while dealing with external events that threaten their very existence. The ILC is the first industry-specific think tank to tackle these challenges.”
Last week, the group spent three hours focusing on three key issues.
- Building relationships with technology and innovation. Are “smart banks,” really offering customers the experience they want, or just technology.
- Giving banking customers what they want—when they want it. How should the industry respond to customer behavioral changes, but also address financial inclusion, mobility, security, and ultimately, trust.
- Establishing a foundation for artificial intelligence (AI) growth and profitability.