So Gonzo Bankers … how many of us have been hesitant lately to check our iPhones each morning to see what trouble may have hit the fan in the financial world during a few restless hours of slumber?
Whatever their level of faith or religious denomination, banking leaders have been praying like crazy for one critical outcome in these volatile days of banking crisis: Please, nobody panic.
The Twitter-fueled frenzy at Silicon Valley Bank illustrated how swiftly and horrifically TRUST can disappear in today’s financial world. At this crossroads moment, every banking and credit union leader in America needs to recognize that the institutional TRUST built over decades is on the ropes.
Upping our game to be TRUSTED by all stakeholders is a 24/7 priority right now for every banking executive. Maintaining and enhancing confidence and calm in this crazy moment requires that leaders remember the three fundamental elements of trust.
Here are key areas where bank executives need action plans to address burning challenges:
Whether it seems fair or not, bankers have just been jolted into a full-on battle to retain trust and confidence. Winning this battle takes an organized plan and a deeper level of engagement and transparency with all the bank’s stakeholders. So Gonzo Bankers, step up now and show your team’s competence, consistency, and sincerity as you prove just why our decentralized, grass-roots financial system is a strength in this country that needs to be protected and preserved.
“Banking is a very good business if you don’t do anything dumb.”