Generative AI, like ChatGPT, can be a helpful tool alongside what you already use at your community bank. But many banks don’t know where to start, or are worried about compliance issues from using it. Banks need to think about how they talk to AI, the rules that guide its use, and what role it plays in their teams.

In this episode, Chris and Dan interview Ben Udell, SVP of Digital Innovation at Lake Ridge Bank, about how he uses Gen AI at his bank and teaches other banks how to get the most out of it.

Topics Include:

● The regulatory and compliance landscape around Gen AI

● How treating Gen AI as a team member, not a replacement, changes how you use it (for the better)

● Creating better prompts for more useful output

● The right way to train ChatGPT on your brand voice

With more than 25 years of financial expertise, Ben Udell, SVP Digital Innovation, is the driving force behind "future proofing" Lake Ridge Bank, a $2.9B community bank in Wisconsin. As a leader in digital innovation, he enjoys working where technology, marketing, and data analytics intersect with consumer financial needs.

He’s a leading banking expert in leveraging practical applications of generative AI and is never afraid to be disruptive went it allows him to find innovative ways to improve the client and associate experience. Recently named one of Bank Beat’s “Rising Starts in Banking”, Ben’s been helping train and consult with other bankers to help them see how AI can transform their organization.

In his free time, he creates content for robotsarepeople.net, an AI and technology focused site, speaks on digital transformation, and writes about the financial industry.”

Resources Mentioned:

● Presentation Deck

● LinkedIn: Ben Udell

● Website: Robotsarepeople.net

● Website: https://bankmarketingshow.com/

Chris and Dan dive deep into the world of bank marketing to uncover the secrets of gaining a competitive edge. They share practical insights and actionable steps for banks to effectively leverage their competitive advantage, ultimately leading to greater differentiation and success in the market.

There's an emphasis on the importance of understanding your bank's unique value proposition and differentiating it from competitors, all while keeping things simple and specific. This is where Chris and Dan also highlight the significance of seeking feedback from both loyal and potential customers to truly understand their perceptions and preferences.

If you're a bank looking to enhance your brand differentiation and customer engagement through strategic marketing efforts, and ready to gain valuable guidance on how to stand out in a crowded market landscape, then this episode is a must-listen!

In this episode:

• Gain a competitive edge in bank marketing with innovative strategies.
• Create a unique bank brand that stands out in the crowded market.
• Engage customers for valuable feedback to enhance service and offerings.
• Implement effective strategies to attract potential bank customers.
• Identify and address weaknesses in your bank marketing approach for improved results.

Resources Mentioned:

• contact@bankmarketingshow.com
• Bank Marketing Minute Newsletter: bankmarketingminute.com
• Website: The Bank Marketing Show: bankmarketingshow.com

Even with the rapidly shifting financial landscape, community banks remain a pillar of the local economy. Up until recently, interest rates remained largely unchanged and favorable for business owners and buyers. But over the last 18 months, a shift has taken place that is showing us a new reality.

In this episode, Chris interviews Chris Moya, CEO of ICBA of New Mexico. They discuss upcoming marketing trends for community banking – like showcasing the value you bring to the community, building relationships with younger customers, and finding beneficial partnerships with fintechs and marketing agencies. It’s not about changing who you are, it’s about telling your story.

Topics Include:

• Why there has been a change in buying behaviors and patterns

• What the upcoming marketing areas, trends, and activities are

• How the right partnership can add value to your community bank

• How community banks can refresh their brands to add more value

• What the future of AI looks like for community banks

• Where the banking environment is moving into and evolving short- and long-term

Chris Moya is the President and CEO of the Independent Community Bankers Association of New Mexico (ICBA/NM). He assumed his role in January 2022 and brings a wealth of experience and leadership to the organization, having previously held the position of Executive Vice President.

Before joining ICBA/NM, Chris contributed to the regulatory landscape, notably as the Director of the New Mexico Financial Institutions Division (FID), a position to which he was officially appointed in April 2019 after serving as the Acting Director for two years. His tenure at FID, which commenced in June 2011, encompassed a progression of roles, including Examiner, Mortgage Industry Manager, and Deputy Director.

Before his regulatory endeavors, Chris forged a successful career in the mortgage industry in southern California. Subsequently, he deliberately returned to New Mexico to establish roots and raise his family.

Chris graduated from California State University San Marcos with a bachelor’s degree in economics. He then obtained an MBA from Eastern New Mexico University and graduated from the Western States School of Banking.

With his multifaceted background and dedication to the financial sector, Chris is poised to continue driving excellence and innovation within ICBA/NM, advancing the interests and preservation of community banks across New Mexico.

Resources Mentioned:

• Email: chris.moya@icbanm.org

• Website: https://www.icbanm.org/

• Website: https://bankmarketingshow.com/