Shane Smith’s Post

✨HSBC ARE PLANNING TO RECRUIT MORE THAN 50 BANKERS IN THE US✨ HSBC is planning to recruit about 50 more bankers in its US commercial bank to lend to start-up companies, mainly in the technology and healthcare sectors, according to a senior executive. The London-headquartered bank hired about 40 people from Silicon Valley Bank after the latter lender failed a year ago. The innovation banking business at HSBC now stands at about 60 employees and is focused on serving early- and mid-stage companies. Wyatt Crowell, head of commercial banking at HSBC, told Reuters in an interview: "There's this void in the market and we're jumping into it. "It's gone way better than I thought it was going to go, both in terms of the volume of deals and our win rate on the deals." Start-up companies typically struggle to get financing from major banks until they grow larger and become more established. HSBC and JPMorgan are among the lenders that are staffing up to serve start-ups as a way to win business in the longer term, including initial public offerings, overseas expansion, deals and wealth management. Crowell told Reuters that HSBC has signed up about 250 companies as clients for the venture lending business, closed 35 lending deals and signed another 30 term sheets with clients for an average deal size of $15m. "I believe we've got traction in the market and that we're kind of punching above our weight relative to the scale of this team," he said. "And that plus our desires to take this global is what is driving the next wave of investment." Spartan International Executive Search Spartan International Group Oliver Rolfe https://lnkd.in/e9DuKjWB

⭐️𝐖𝐚𝐲𝐬 & 𝐌𝐞𝐚𝐧𝐬 𝐅𝐨𝐫 𝐃𝐞𝐩𝐨𝐬𝐢𝐭 𝐌𝐨𝐛𝐢𝐥𝐢𝐬𝐚𝐭𝐢𝐨𝐧, 𝐀 𝐏𝐞𝐫𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞: ➾For a lending institution low cost deposits are elixir of life. However, since Credit growth started outpacing Deposit growth in Post Covid economy, lenders are at a loss to garner deposits. Let's figure out how to solve the nagging issue and how some financiers are faring. 🪔𝐁𝐫𝐚𝐧𝐜𝐡 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧: Metropolitan cities are overserved & overbanked. If you work for an MNC or running your own business establishment and based out fo Delhi, Bengaluru or Hyderabad, more often than not you would be bombared by phone calls at ungodly hours from lending instituions. However, at the same time tier 3,4,5 or Bharat is devoid of banking facilities. ➔Once you set up a branch in Rural area, lease rentals are going to be lower, local talent would also be available. Indeed traning that workforce is a bit time consuming and even though Break Even would be around 3 to 3.5 years. Once the engine starts running Alpha would be substantial. Lots of deposits could be mobilised. ➔A brick & morter Bank branch is an instituion of Trust for the depositors. 🔔𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐐𝐮𝐚𝐥𝐢𝐭𝐲: Banking is a commoditised industry. What truly matters is the Low Turnaround Time(TAT). The person concerned should be available on call to seamlessly find a solution for the aggrived client. ➔It is time consuming. Merely making a call in the month of March to meet your sales target won't assist you. Once you provide a patient hearing bulk of the issues would be solved. 🩸𝐀𝐬𝐬𝐢𝐬𝐭 𝐒𝐞𝐧𝐢𝐨𝐫 𝐂𝐥𝐢𝐞𝐧𝐭𝐬: Due to the nature of jobs, in many cases elderly people are left to fend for themselves. Empathise, earn their trust and ensure their banking needs. A word of mouth would do you world of good than spending crores on advertisements. ⚠️𝐂𝐫𝐨𝐬𝐬 𝐒𝐞𝐥𝐥. 𝐝𝐨𝐧'𝐭 𝐌𝐢𝐬 𝐒𝐞𝐥𝐥: Bankers are custodian of trust. Once you commit the mistake of pulling the fast one to make some quick bucks, remember it reflects poorly on the entire community. Reputation goes for a toss and ireparable damage would take place. Social media is replete with stories. Media management would be insuffciient. 🔅𝐒𝐀 𝐫𝐚𝐭𝐞𝐬: Some institutions are providing 7% in SA accounts above a certain a certain quantum. These are TDs masked as SA deposits. Sooner or later it would reverse. Rates are deregularised. ➔It's been a long time since SA rates are hiked. Considering the fact that CPI Print is hovering around 5.36%, real returns are negative. In order to bridge the gap, incentivse the consumers by taking a hike in terms of SA rates. NIMs are already getting crimped due to TD rates. 📍𝐈𝐧𝐟𝐫𝐚 𝐁𝐨𝐧𝐝𝐬: PSUs and their private sector counterparts are raising money through Infra Bonds to ensure presence of long term patient capital. It might prove costly, depending on the credit rating and pedegree of the organisation , but woulf be better than wholesale deposits.

Here's a GREAT line for Bankers when prospecting... Client: "No, I'm happy with ABC Bank" You: "Ok, let me ask you...if you were to ever leave ABC Bank, what would be the reason?" FOLLOW UP every 90 days about this reason and teach them something about their business. #verticaliq is an AMAZING resource for this! Reason #1: They're be acquired - From first hand experience, these are pretty rough, especially when you're the bank being acquired. These client are going to learn a new system and get a new account number anyways, why not be another banks (your bank). Reason #2: Their banker leaves or gets promoted and that's why they were staying (because you learned that on your last prospecting call). That's why it's important to be on LinkedIn, connect with other bankers because it's a glass door into what's going on and who's moving where! With $20k -$30k bumps in salary being thrown around, yeah...bankers are moving around. Reason #3: Online Banking - Bigger banks clearly have the advantage here. Sending large or international wires, expensive treasury management fees and low earnings credits are just a couple of things that makes it tough for businesses to grow and automate certain tasks when using a bank that doesn't have a robust Online Banking. Most bigger banks WILL PAY FOR THESE SERVICES FOR YOU, if you keep balances of $100,000 (which for a large company is not a lot).

Customer service - where do I begin with the decline in customer service? For today's rant I'll begin with TD Bank. I'm not a millionaire by any stretch but my money's just as valuable to me as it is to Jeff Bezos (I know he's a billionaire but I'm trying to stay humble). I used to have my "person" at TD Bank. My make an appointment, go see Nicholas, solve my banking needs, be done in an hour person. Nicholas was AMAZING. When he moved on, I knew I'd never find someone else like him and jeepers have I been right. TD, in their infinite wisdom, has done away with in branch business services. According to one of the branch staff, too many mistakes were happening in branch and so TD decided to train a dedicated #business team to do the job right. My immediate question was: Wasn't your staff trained correctly before?? And why the heck would you share that with a customer?? It has taken me two weeks to get an appointment to open a chequing account. A CHEQUING ACCOUNT. I'm not applying for credit or anything fancy. I want to give TD my money and pay them even more than I am now. I don't want any of their money (or any more than I have now). But no, that requires some kind of due diligence check on their part. So my new business chequing account is still sitting as "frozen". I need to use this account to manage a project. It still being frozen prompts me to call TD. It's at this point I discover that the account still hasn't been processed. Why you ask? I asked that as well. According to TD, they've been inundated with CEBA issues. I believe the word used was "stressed". I'm sorry TD but your $2.9 billion in profits for 2023 should help with that "stress" right? I can assure that I'm still a few years away from billionaire status so out of the two of us, I'm feeling confident that my stress levels are significantly different. Hire people! Why is that significant? Because the customer service person assured me they understood my frustration. Huge pet peeve for me. I asked them - are you a small business owner? Or have you ever been an entrepreneur? "Well no, but I talk to customers all the time so I understand." No lady, you don't understand. You don't understand at all. You might try to empathize but you in NO WAY understand the many hats, deadlines, projects, contracts, negotiations, partnerships and everything else I do on the daily. And having to chase TD to give them more of my money? That's not something I want on my never ending to do list. Why do I share this? Because earlier today at the Burlington Mayor's Breakfast, I was having a great chat with some folks about exactly this: the decline of #customerservice . The value of being people focused in your business. The understanding that people like to feel valued and treated right. That leaders need to build this in to the DNA of their organization. TD? You've got some work to do. Because right now you are failing spectacularly and I'm sure I'm not the only one who wants to rant about it..

Explore the challenging landscape of the 2024 banking job market: low hiring, cost-cutting, and cautious optimism for recovery. Stay ahead with insights from @BankofAmerica's latest moves. #BankingTrends #JobMarket2024 #FinanceCareers #fintech #banking #tech https://lnkd.in/g9CRVhuy

I'm glad to share RiskSeal's latest article. Here, we explore how alternative data is not just a tool but a game-changer. It offers thousands of insights into a borrower's financial capacity. This approach is opening doors for millions of previously unserved consumers. #riskmanagement #lendingrisk #digitallending #fintech #digitalfootprint #alternativedata

🌐 According to TransUnion, 8.1 million people in the U.S. and 571 million in India have no credit history. How can lenders tap into this massive potential market? 🔍 Our latest blog article dives into this subject. Learn how alternative data is changing the lending industry, transforming millions without credit history into valuable clients. 🔗 Don't miss out on the full insights. Dive into the details and stay ahead in the lending industry. Read the full article here: https://bit.ly/3u3vk9l #RiskSeal #alternativedata #financialinclusion #creditlending #fintech #digitallending #riskmanagement #frauddetection #digitalfootprint #digitalfootprintanalysis

So much of the talk in community banking right now is about the need for deposit growth, and how competitive the market for them is. We’ve made a number of deposit-related investments at BankTech Ventures to try to enable them. I’ve also had the conversation repeatedly within the industry about the historical lack of focus on attracting and generating deposits, and having leaders and teams in the banks focused on it. I find that interesting - for many banks, they just haven’t hired dedicated capabilities there. They certainly need them now, and I speculated that there was a lack of this talent in the market. So I did a “scientific” study (several LinkedIn searches), and I found that there were: A. 921 people in my broader network with “Chief Lending” as a title in a bank in the US. And how many do you think had a similar “Chief Deposit” title in U.S. banks?   B. 62. So in a world where deposits is the most competitive it’s been in most bankers’ entire careers, there are 15 times more lending leaders than deposit ones. I also found 93,000 people at U.S. banks with loan or lending in their title, while there were only 5,400 with deposits in it, so this gap also transcends down into the rest of the organizations. And it’s literally the same ratio there, too - 15x more people focused on loans than deposits. Fascinating. One of my early organizational leadership learnings was that if you want people to focus on a certain type of work, it probably needs to be their job - in the description, expectations, measurement and incentives. I think banks need more people whose job it is to attract and retain deposits. What do you think?

Carey Ransom, since I've been in the business (started in banking January 2000), Bankers have been 1) trained, 2) compensated, and 3) promoted based on their ability to grow the asset side of the balance sheet (i.e., make loans - preferably 100% funded loans like term loans and commercial real estate loans). Historically, the "funding" side of the bank has been responsible for funding asset growth and many Bankers simply don't have the background to go raise deposits as the first priority (the commercial banking model is built around leading with "credit" and the deposits and ancillary fees will follow). So what is the solution?: 1️⃣ transition the proportion of CRE to C&I to be more heavily weighted toward C&I - reason is you get about 55% compensating balances in C&I (vs. ~25% when you make a C&I loan). 2️⃣ stand up niche deposit gathering solutions alongside your C&I banking business, deliver the technology and solutions those niche spaces need, and be rewarded with the deposits on your balance sheet. 3️⃣ stand up the right data strategy internally to be able to manage, model and forecast how your deposit mix is going to impact the P&L so you'll know which levers to pull.

My Journey to Digital Transformation As a seasoned banking professional, I've had the privilege of leading transformative change in the industry. Since getting my first chance of leadership 2016, I've successfully aimed to think outside the box, digitizing a brick-and-mortar bank, posting year-on-year profits despite significant investments. The Catalyst for Change Observing inefficient practices sparked a desire for innovation: - Employees drawing client maps on paper instead of using digital coordinates - Carrying cumbersome calculators and loan forms when tablets could suffice - Siloed roles: loan officers, data entry staff, and account managers performing fragmented tasks This inefficiency motivated me to revolutionize our processes. Collaborative Solution I partnered with Juakali and leveraged on branch experts to: - Streamline operations - Enhance customer experience - Boost productivity Key Initiatives: - Business restructuring: customer-centricity and specialization - Loan digitization: automated data entry, reduced paperwork - Sustainable development: green products and partnerships - Insurance business growth: credit life and family policies Milestone Results (3-Year Tenure as Head of Retail): Initial Figures (Year 1): - Loan Book: ZMW 108M - Deposit Book: ZMW 126M Final Figures (Year 3): - Loan Book: ZMW 312M (188% growth) - Deposit Book: ZMW 480M (281% growth) Year-on-Year Growth: Year 1-2: - Loan Book: 40% growth - Deposit Book: 60% growth Year 2-3: - Loan Book: 50% growth - Deposit Book: 45% growth Growth and Expansion: Our success led to: - Opening 2 new branches - Establishing 3 satellite/cashless agencies - Expanding our reach to underserved communities Teamwork and Collaboration: This achievement was made possible through: - Top-down collaboration - Cross-functional teamwork - Empowering staff to drive innovation Key Takeaways: - Embrace innovation to drive growth - Challenge the status quo - Focus on customer-centricity - Invest in digital transformation - Collaborative leadership yields results I'm proud of my journey and collaboration, excited to continue shaping the future of banking and customer service. Special mention Cosmin Olteanu a digital champion #TeamworkDreamwork #EmbracingTechnology