Regions Bank 2014 Annual Report Download - page 5

REGIONS 2014 ANNUAL REVIEW 4
More providers and more products seem to appear in the
financial services marketplace every day. How is Regions
responding to this new competitive landscape?
It’s quite true; we operate in an environment where
competition is everywhere. In addition to traditional
competitors with banking offices in our market, more
financial services are being delivered in a digital channel.
So there are competitors from many non-traditional ven-
ues that didn’t exist before. At Regions, our strategy is
to be a relationship bank, focused on meeting customer
needs with consistent and excellent service and deliver-
ing convenient banking across multiple channels. We
still believe that banking at its core is a people business
and we are still investing in our team, but also investing
in technology and channels that provide customers
with convenience.
We also believe the strength in our franchise is having that
direct engagement with customers and communities, where
they can come in and meet with bankers who can help them
solve problems and provide advice and guidance to help
them make better financial decisions. That full-service banking
relationship is a strength that few others can match, and
that’s where Regions has the opportunity to excel.
What is the role of technology in supporting your strategy
as a relationship bank?
We really want to have that personal, community bank
touch and feel and engagement in the communities we
serve, while still delivering the products and services and
technology that customers expect – so they can choose
how to bank with us. I think we have uniquely positioned
ourselves to provide a full-banking relationship across all
convenience channels. For the most part, products and
services can be replicated very quickly. But what cannot,
are your physical points of presence and the team that you
assemble to serve customers. And we’ve brought together
some very strong bankers who believe in our culture and
believe in the strength of our approach to business.
You have invested time and resources to better understand
and define culture at Regions. What role does culture play in
strengthening your performance and creating shared value?
There is no doubt about it, culture is critically important to
our success. We are focused on developing a unique and
strong culture that helps us achieve our goals and deliver
exceptional service to our customers, while creating an
environment where our associates are passionate about
what they’re doing. That passion for our mission means a
commitment to create shared value for all of our stakeholders.
It’s about having integrity, earning trust and feeling a
sense of personal accountability for results. We want to
earn a decent profit in a decent way. But, we recognize that
no culture stands still and this fact requires that we take a
very thoughtful and strategic approach to enhancing and
strengthening our culture every day. It should drive our
every decision and every interaction with our customers.
With every customer interaction, we have the opportunity to
demonstrate our core values and our desire to understand
their needs and meet those needs with the best products
and services. Regions360™ resonates with our associates
because it is very much aligned with those values and it puts
customer needs first.
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OPPORTUNITIES, PRIORITIES AND
THE ROLE OF CULTURE
A Conversation with Grayson Hall