The Future-Ready Chief Lending Officer, How Emerging Technologies are Shaping Lending and Shifting Management Priorities in Community Markets

The Future-Ready Chief Lending Officer, How Emerging Technologies are Shaping Lending and Shifting Management Priorities in Community MarketsThe Future-Ready Chief Lending Officer, How Emerging Technologies are Shaping Lending and Shifting Management Priorities in Community Markets

Emerging technology is having a huge impact on banking and what Chief Lending Officers need to do to adapt. Will this require a change in the CLO role in banks and credit unions? Will the future chief lending officer need a new set of skills and have new responsibilities going forward? See some stats taken from the Cornerstone Advisors research based on 305 community bank and credit union executives:

  • Loan priorities in 2018 vs 2019 are similar – In 2019, 77% will make commercial loans a priority versus 72% in 2018.
  • 38% and 34% plan to improve their online and consumer LOS, respectively.
  • 34% are not future-ready but are making progress