Igor Gitsevich Director, Solutions at SunGard Sierra
Igor Gitsevich Director, Solutions at SunGard Sierra

Why regional banks are positioned for growth

The recent credit crisis has resulted in a dynamic shift to the banking industry by opening new opportunities for regional banks. While traditionally focused on serving the domestic needs of local customers, regional banks today are targeting and supplying a broader array of services.

Regional banks who survived the credit crisis with strong financials are now poised to take advantage of the changing landscape and use this opportunity to grow their business as the economy recovers.  Banks are experiencing rapid expansion through acquisitions and in some instances seeing exponential balance sheet growth in a relatively short span of time. In addition, these same banks are also now able to attract newly available talent due to massive job attrition from the larger banks. These new hires are able to help build upon traditional services while also bringing expertise in expanding out new lines of business. Also, the personalized service these banks can offer further differentiates them from larger banks, giving them greater traction in their ability to acquire and retain customers.Expanding Services Not too long ago, regional banks did little for their customers on an international basis, such as cross-border payments and FX trading. This was usually done as an accommodation, subsequently...continued

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