In Part 1 (“Building Victory Bank: From Rancher to Banker“), we explored Brett McDowell’s journey to becoming President of Victory Bank.
Now, McDowell explores his vision for the future of Community Banking. In our exclusive Banking+ interview, learn about Victory Bank’s culture, technological advancements, and strategic approach in a rapidly evolving industry.
Victory Bank: A Culture-Driven Approach to Community Banking
In his current role as Victory Bank’s CEO, McDowell strongly emphasizes the importance of company culture and values, especially when selecting new team members.
Building a Strong Culture: Empathy, Authenticity & Customer Focus
“We look for very smart go-getters, sharp people who are also authentic and empathetic” he explains. These qualities form the foundation of their organizational culture, built on principles of empathy, authenticity, and customer-centricity.
“We’re not a country club bank,” McDowell asserts, highlighting an organizational commitment to building meaningful, long-term relationships with customers who value their unique approach. Central to the institution’s philosophy, he believes, is the idea that banking is more than transactions: It’s about advisory relationships built on trust and mutual respect.
Reflecting on the industry’s challenges and uncertainties, McDowell cites the criticality of staying true to operational tenets and adapting dynamically to economic cycles and regulatory changes.
“Stick to our core principles day in, day out,” McDowell advises, underscoring the resilience required to navigate the ever-changing banking landscape.
As McDowell continues to lead and shape the direction of his bank, he remains focused on fostering a culture of integrity, customer centricity, and continuous improvement. “We think you can’t go wrong if you stand the test of time,” McDowell states, encapsulating his steadfast belief in the enduring value of sound business practices and genuine relationships in banking.
The Key to Banking’s Future? Balancing Technology with the Human Touch
McDowell’s career in banking has been marked by a continuous evolution, shaped significantly by technological advancements. From his perspective, embracing these changes while preserving the human touch is crucial for the industry’s future.
Reflecting on technological integration, McDowell acknowledges its transformative impact on banking operations. “AI and machine learning are already embedded in many aspects of our daily life, we think banking will follow in due time – mostly with regard to processes,” he notes. He emphasizes the importance of leveraging these technologies, particularly in regulatory compliance and operational efficiency.
McDowell remains cautious, however, about the limitations of bank technology. “You can’t replace the human element in complex client interactions,” he asserts. Whether discussing exciting opportunities or navigating challenges, McDowell believes personal interaction remains irreplaceable.
“We’re a relationship-driven bank,” McDowell affirms, highlighting the institution’s commitment to maintaining personalized customer service amid an era of technological advancement. He sees technology as enhancing efficiency rather than replacing personal connections.
Building Next-Gen Banking Relationships
McDowell also shares insights into generational shifts in banking preferences.
He believes that younger generations, despite their digital fluency, still value authentic personal relationships in business. “They may be the hungriest for a real, personal relationship,” McDowell speculates, suggesting that genuine human interaction could foster deeper customer loyalty.
Looking ahead, McDowell envisions his bank, as it operates in the small- to medium-sized niche, maintaining strong performance and intense client focus. “Why not be a really good $2-billion bank?” he asks, emphasizing quality over sheer size in achieving sustainable growth and client satisfaction.
Key Takeaways for Future Banking Success
In navigating the future, McDowell’s approach blends technological innovation with a steadfast commitment to personalized customer relationships, ensuring resilience and relevance in an evolving industry landscape.
McDowell’s perspective on banking and leadership is deeply rooted in maintaining core values while embracing strategic growth opportunities through technology and team dynamics.
His industry insights yield the following takeaways:
- Core Values and Technology: McDowell emphasizes that while adopting new technologies and strategies is important for growth and efficiency in banking, core values like customer experience and community focus must remain uncompromised. This balance ensures sustainable progress without losing sight of foundational principles.
- Strategic Opportunities: He sees significant opportunities in areas like digital payments, money movement solutions, and digital lending platforms. McDowell advocates for leveraging technology to enhance service delivery and operational effectiveness, particularly in niche markets where the bank excels.
- Team and Culture: McDowell takes pride in assembling a team that embodies qualities like empathy, initiative, and a collaborative spirit. This cultural fit is crucial for fostering an environment where different departments work cohesively toward common goals, ensuring compliance and growth go hand-in-hand.
- Personal Growth and Advice: Reflecting on his career journey, McDowell encourages young professionals to adopt a patient and broad-minded approach. He advises them to pursue diverse experiences and continuously learn, advocating for a balanced perspective between ambition and patience in career development.
- Leadership and Managing Differences: When addressing challenges like managing strong personalities across departments, McDowell emphasizes the importance of strategic leadership selection and cultural alignment. He believes in a collaborative approach where everyone in the organization works together toward shared objectives, regardless of their role.
- Learning and Adaptation: McDowell’s approach underscores the importance of continuous learning and adaptation in banking. He values the lessons learned from experiences at different-sized institutions, incorporating them into his leadership philosophy and decision-making process.
Overall, McDowell’s insights highlight a balanced approach to banking leadership, where innovation and tradition intersect to drive sustainable growth and positive customer outcomes in community banking. His emphasis on culture, team dynamics, and strategic alignment provides valuable lessons for aspiring and current professionals in the industry.
So there you have it! Our exclusive interview with Victory Bank President Brett McDowell comes to a close. We hope to check in with Brett again in the future. Don’t forget to catch up on Part 1 to learn about McDowell’s inspiring journey to leadership!
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