Back to Basics: Best Practices for Lenders During Turbulent Economic Climate
Banking expert available to discuss proven strategies for successful loan and service initiatives.
November 18, 2008
WHAT: The ill effects of the credit meltdown have placed a great burden on the U.S. financial system. According to the Federal Reserve's survey “Loan Officer Opinion Survey on Bank Lending Practices,” domestic institutions reported having tightened their lending standards and terms on all major loan categories. Current economic conditions have triggered banking institutions to scale back on, or completely abandon, certain lines of business to cut costs, prevent loss and reduce risk. Ironically, this approach may do more long-term harm than good. The reality is there are still opportunities to make good loans and efficiently serve customers.
Tom Johnson, vice president of product development at Zoot Enterprises, is available to discuss how banks can position themselves for growth in the post-crisis market. Key components such as increased data, greater analysis of the data, segmentation, intelligent automation and flexibility are all vital to banks in the new economy. Banks that succeed will be able to increase revenue and maintain current customers, while reducing credit risk. His comments on this topic recently appeared in the Oct. 31 American Banker Viewpoints column.
WHO: Johnson brings 20 years of experience in designing, implementing and managing technology solutions in banking and education to Zoot. Johnson has spent the last ten years traveling to the top 50 banks in the country and working with them to develop state of the art custom banking solutions and he is now responsible for taking the ideas and solutions Zoot has developed and turning those into standard products that can be taken to the market.
WHEN: Johnson will be available at the 2008 BAI Retail Delivery Conference & Expo on Nov. 18 – 20 in Orlando, Fla. (Visit Zoot at booth number 1568/1570).
About Zoot
Bozeman, Mont.-based Zoot Enterprises provides credit decisioning and loan origination solutions through a configurable, scalable and reliable platform to large and innovative U.S. financial services institutions.
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