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THE NEED FOR SPEED:
MEMBER BUSINESS LENDING IN A SOUND BITE
AND FIDGET GADGET WORLD
Stephanie L Butler - Director, Advisory Services
WELCOME
Can you keep up?
Confidential & Privileged DocumentConfidential & Privileged Document
Speed, speed, speed
Confidential & Privileged DocumentConfidential & Privileged Document
Speed, speed, speed
• Have you noticed how fast everything seems to move today?
• How do you offer members what they really need and in a
timely manner?
• Is the need for speed outstripping your resources?
Confidential & Privileged DocumentConfidential & Privileged Document
…the culprit
Confidential & Privileged DocumentConfidential & Privileged Document
Speed, speed, speed
• Think about it….
– Amazon thinks for the customer
– Amazon moves fast
– Amazon doesn’t ask for much in return
• Just your money
• And information
Confidential & Privileged DocumentConfidential & Privileged Document
Speed, speed, speed
• We’ve all heard this is driven by the MILLENNIALS
• Is it, really?
• Every generation has it’s own need for speed
Confidential & Privileged DocumentConfidential & Privileged Document
US Census Bureau
Greatest Gen
1%
Silent Gen
9%
Gen-X
20%
Gen-Z
22%
Millennials
25%
Baby Boomers
23%
Total US Population by Generation
Confidential & Privileged DocumentConfidential & Privileged Document
Who are your members?
• Ave. age for members:
– 48.5 years
• Ave. age for nonmembers:
– 45.5 years
• Ave. age community bank:
– 43.4 years
• US Census Median Age:
– 37.7 years as of 2014
Members Nonmembers
Average age 48.5 45.5
Age 18 to 24 7% 18%
Ages 25 to 44 35 34
Gender
Male 45 50
Female 55 50
Married 65 47
Education
completed
High school or less 29 49
College degree or
more
40 24
Employed full time 54 39
Own home 76 52
Have bank account 86% 65%
Source: The source for all tables/figures is CUNA’s 2014-2015 National
Member & Nonmember Survey, unless otherwise noted.
Confidential & Privileged Document
Speed, speed, speed
• Baby boomers (1946-1964)
– Very disciplined
– Structure
– Tech acquired
– “You have my information,
I have been a member
for years, give me my loan”
Confidential & Privileged Document
Speed, speed, speed
• Generation X (1965-1980)
– Work/life balance
– Informal
– Tech savvy
– “I can fill out the application
while I am taking the kids to
soccer. Send me an email
when I am approved.”
13
Confidential & Privileged Document
Speed, speed, speed
• Millennials (1981-1998) or
• Generation Y (1999-2015)
– Fast paced
– Work/life balance
– Mobile first/digitally native
– “Let’s meet for coffee, and I’ll tell
you about my business idea. Text
me a date/time.”
Confidential & Privileged Document
Speed, speed, speed
Regardless of the
generation, all Members
want one thing from you-
GREAT MEMBER SERVICE
…and in many instances
that is defined by SPEED
15
Confidential & Privileged Document
What’s the speed of the competition?
60
days
Large Bank Local Bank
20
days
Non-
Traditional
7
days
Alt
Lenders
Micro Bus
P2P
24 72
hours hours
Source: Business Money Today.com
KEEP YOUR EYE ON THE PRIZE
Confidential & Privileged Document
Avoid being a commodity
93 YEARS TO BUILD
610,000 ROOMS, 88 COUNTRIES
4 YEARS TO AMASS
650,000 ROOMS, 192 COUNTRIES
Confidential & Privileged DocumentConfidential & Privileged Document
Replaced value: tech & convenience
$20
Billion Market
Capitalization
$31
Billion Venture
Capital Funding
Lanes for gain
• Where can you gain the inside track?
– Application process
– Decision
Confidential & Privileged Document
The Baker Hill NextGen lending process
Confidential & Privileged Document
Internet
Branch Call Center Remote UserWebsite Relationship
Management
Retrieve
credit
bureaus
Submit
application
Validate application
data
Score
application
Bank decisions
application
Analyze data
and scores
Verification &
collateral evaluation
Document
preparation
Consumer loan
or business line
Recommend
pricing and decision
Internet
Confidential & Privileged Document
Lanes for gain
• Application process
– Web portal with simplified application
– Member can apply for business loan and attach
financial statements
– Existing member information prefills
– 24/7 availability
23
Case Study: Growing your loan portfolio
Confidential & Privileged Document
Lanes for gain
• Decision
– Standardized products
– Standardized requirements
– Business scores and auto
decisioning
– Streamlined processes, quicker
decision
25
YELLOW FLAG
Confidential & Privileged DocumentConfidential & Privileged Document
Apply the brakes!
How do you gain and maintain speed without
crashing?
A strong pit crew!
The pit crew
• Loan policy and procedures
• Product guidelines
• Your team of experts
• Know your risks
Confidential & Privileged Document
VICTORY LANE
For the win!
• Do you have systems in place for
– Web applications
– Score based decisions
– Loan Origination System
Confidential & Privileged Document
Get psyched for the win
• If not, why?
– Culture
– Technology
– Team
3
1
Confidential & Privileged Document
Confidential & Privileged DocumentConfidential & Privileged Document
What about you?
• Where does your
credit union rank?
– Ready to race!
– Looking at race
sponsors
– Still driving to the
track
Confidential & Privileged Document
Confidential & Privileged DocumentConfidential & Privileged Document
What about you?
• Tocarry the victory
flag
– Know your member
base
– Look at consumer
technology wins
– Have a plan and a
purpose
Confidential & Privileged Document
Thank you!
Stephanie.Butler@bakerhill.com

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Need for Speed in Member Business Lending

  • 1. THE NEED FOR SPEED: MEMBER BUSINESS LENDING IN A SOUND BITE AND FIDGET GADGET WORLD Stephanie L Butler - Director, Advisory Services
  • 3. Confidential & Privileged DocumentConfidential & Privileged Document Speed, speed, speed
  • 4. Confidential & Privileged DocumentConfidential & Privileged Document Speed, speed, speed • Have you noticed how fast everything seems to move today? • How do you offer members what they really need and in a timely manner? • Is the need for speed outstripping your resources?
  • 5. Confidential & Privileged DocumentConfidential & Privileged Document …the culprit
  • 6. Confidential & Privileged DocumentConfidential & Privileged Document Speed, speed, speed • Think about it…. – Amazon thinks for the customer – Amazon moves fast – Amazon doesn’t ask for much in return • Just your money • And information
  • 7. Confidential & Privileged DocumentConfidential & Privileged Document Speed, speed, speed • We’ve all heard this is driven by the MILLENNIALS • Is it, really? • Every generation has it’s own need for speed
  • 8. Confidential & Privileged DocumentConfidential & Privileged Document US Census Bureau Greatest Gen 1% Silent Gen 9% Gen-X 20% Gen-Z 22% Millennials 25% Baby Boomers 23% Total US Population by Generation
  • 9. Confidential & Privileged DocumentConfidential & Privileged Document Who are your members? • Ave. age for members: – 48.5 years • Ave. age for nonmembers: – 45.5 years • Ave. age community bank: – 43.4 years • US Census Median Age: – 37.7 years as of 2014 Members Nonmembers Average age 48.5 45.5 Age 18 to 24 7% 18% Ages 25 to 44 35 34 Gender Male 45 50 Female 55 50 Married 65 47 Education completed High school or less 29 49 College degree or more 40 24 Employed full time 54 39 Own home 76 52 Have bank account 86% 65% Source: The source for all tables/figures is CUNA’s 2014-2015 National Member & Nonmember Survey, unless otherwise noted.
  • 10. Confidential & Privileged Document Speed, speed, speed • Baby boomers (1946-1964) – Very disciplined – Structure – Tech acquired – “You have my information, I have been a member for years, give me my loan”
  • 11. Confidential & Privileged Document Speed, speed, speed • Generation X (1965-1980) – Work/life balance – Informal – Tech savvy – “I can fill out the application while I am taking the kids to soccer. Send me an email when I am approved.” 13
  • 12. Confidential & Privileged Document Speed, speed, speed • Millennials (1981-1998) or • Generation Y (1999-2015) – Fast paced – Work/life balance – Mobile first/digitally native – “Let’s meet for coffee, and I’ll tell you about my business idea. Text me a date/time.”
  • 13. Confidential & Privileged Document Speed, speed, speed Regardless of the generation, all Members want one thing from you- GREAT MEMBER SERVICE …and in many instances that is defined by SPEED 15
  • 14. Confidential & Privileged Document What’s the speed of the competition? 60 days Large Bank Local Bank 20 days Non- Traditional 7 days Alt Lenders Micro Bus P2P 24 72 hours hours Source: Business Money Today.com
  • 15. KEEP YOUR EYE ON THE PRIZE
  • 16. Confidential & Privileged Document Avoid being a commodity 93 YEARS TO BUILD 610,000 ROOMS, 88 COUNTRIES 4 YEARS TO AMASS 650,000 ROOMS, 192 COUNTRIES
  • 17. Confidential & Privileged DocumentConfidential & Privileged Document Replaced value: tech & convenience $20 Billion Market Capitalization $31 Billion Venture Capital Funding
  • 18. Lanes for gain • Where can you gain the inside track? – Application process – Decision Confidential & Privileged Document
  • 19. The Baker Hill NextGen lending process Confidential & Privileged Document Internet Branch Call Center Remote UserWebsite Relationship Management Retrieve credit bureaus Submit application Validate application data Score application Bank decisions application Analyze data and scores Verification & collateral evaluation Document preparation Consumer loan or business line Recommend pricing and decision Internet
  • 20. Confidential & Privileged Document Lanes for gain • Application process – Web portal with simplified application – Member can apply for business loan and attach financial statements – Existing member information prefills – 24/7 availability 23
  • 21. Case Study: Growing your loan portfolio
  • 22. Confidential & Privileged Document Lanes for gain • Decision – Standardized products – Standardized requirements – Business scores and auto decisioning – Streamlined processes, quicker decision 25
  • 24. Confidential & Privileged DocumentConfidential & Privileged Document Apply the brakes! How do you gain and maintain speed without crashing? A strong pit crew!
  • 25. The pit crew • Loan policy and procedures • Product guidelines • Your team of experts • Know your risks Confidential & Privileged Document
  • 27. For the win! • Do you have systems in place for – Web applications – Score based decisions – Loan Origination System Confidential & Privileged Document
  • 28. Get psyched for the win • If not, why? – Culture – Technology – Team 3 1 Confidential & Privileged Document
  • 29. Confidential & Privileged DocumentConfidential & Privileged Document What about you? • Where does your credit union rank? – Ready to race! – Looking at race sponsors – Still driving to the track Confidential & Privileged Document
  • 30. Confidential & Privileged DocumentConfidential & Privileged Document What about you? • Tocarry the victory flag – Know your member base – Look at consumer technology wins – Have a plan and a purpose Confidential & Privileged Document