BANKING
Define Culture & Over Communicate: In order for employees to understand a bank’s culture, leadership needs to define the specifics of culture and make it a part of the institutional core values. At our company, we always look for professionals that embody entrepreneurial, dynamic and flexible behaviors, all critical attitudes in managing change and transformation. Every company should define what culture means inside their individual institution. Innovation Culture is Baseline for Banks: The pandemic has taught us how capable banks are at accelerating digital change, but it also showed how crucial a culture of innovation is for the long-term. A bank’s measure of innovation culture was tested and quantified by how quickly they were able to shift to a virtual economy and how efficiently they were able to deliver stimulus to consumers and business owners amid the pandemic. The financial services industry has been forced to adapt to the new normal brought on by the coronavirus pandemic. It’s never been more clear that the shift to a digital and virtual world made the case for a strong culture even more critical. Banks and financial institutions will continue to face pressures to accelerate digitization in an environment with more uncertainty ahead, and culture will serve as the barometer for a bank’s perseverance, growth and ultimate success. As we move into further unchartered waters in 2021, culture will remain one of the most important factors that contribute to a bank’s longterm success.
Maria Gendelman Chief Culture & Experience Officer ConnectOne Bank
Elizabeth Maggenis Executive Vice President Chief Lending Officer
Issue 20 | 23
