The 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