By GSBC President & CEO Michael Stevens
Each new student who enrolls at GSBC is assigned to a peer group with seven fellow new students. With two virtual meetings before arriving on campus, relationship-building among students is accelerated, better preparing them to excel in our Annual School Session.
One of GSBC’s intersession projects is completed by the members of each peer group. This project is an opportunity for collaboration and peer learning. The groups’ first task last fall was to agree on a topic, which could be a common challenge facing their organizations or an area they wanted to explore as a group.
Understanding an Evolving Workforce & Customer Base
“People issues” are a common focus for student-designed projects. While half of the projects center on workforce-related topics, there has been a shift away from succession and retention toward attracting and serving customers. Several groups are examining generational banking; how community banks attract and serve a multi-generational customer base while ensuring they remain appealing to younger demographics.
One group is specifically researching unbanked populations, and the steps community banks can take to provide services to them. This is an important and educational endeavor.
GSBC has long recognized succession planning as a critical issue. It was a primary inspiration for the creation of the Executive Development Institute for Community Bankers®. Although progress has been made, there is still work to be done—two peer groups are currently focused on this topic, along with several strategic projects being completed by rising third-year students.
Adapting to the Future of Work
The second most popular topic among peer groups is the workplace of the future. GSBC has identified this as one of the Drivers of Change impacting community banking. Banks continue to navigate how best to adapt to shifting attitudes about work, corporate culture and customer service.
A review of student research on this topic over the past few years reveals that community banks are developing innovative solutions tailored to their institutions and the markets they serve.
Exploring Emerging Industry Trends
For a written version of a “rapid-fire round,” here are the additional topics peer groups are researching:
- Data Analytics: Community banks have immense potential to harness data for greater efficiency and improved customer service.
- Noninterest Income: A topic that always benefits from fresh ideas and innovative approaches.
- Faster Payments: Banks must assess customer needs and determine the most effective payment solutions.
- Asset Bubbles: A safety and soundness issue that is always relevant. This topic allows students to learn from one another about managing asset exposures.
- AI in Community Banking: A growing area of interest, AI is already being applied in ways that enhance efficiency, analytics and the customer experience. While not universally adopted yet, AI is proving valuable in many community banks.
Stay tuned for more updates on these projects as teams work to finalize them in April 2025. Both the project work and the social aspects of peer groups have quickly become central to the GSBC experience.