I'm in the county town, and you say I'm a big shot?

Chapter 545 From the President of a Small and Medium-Sized Bank in the United States
Fang Qingye didn't say anything, but he was quite interested in this executive from Southern Bank.

People generally focus on large American banks like Goldman Sachs, Morgan Stanley, and Citigroup, but few notice that there are nearly 2000 small and medium-sized banks in the United States.

How do these banks survive in the United States, where the financial industry is highly developed, and under the shadow of the Big Four investment banks?

What lessons can be learned for the development of small and medium-sized banks in China?

These are all things he is very interested in.

Although there is information about this online, which one is more authentic and credible than the one from someone who has served as a senior executive at a small bank?
The 2013 China Small and Medium-Sized Banks Summit Forum opened at 8:30 a.m. the next day in the conference room on the 16th floor of the hotel. Nearly one hundred people attended, including bank presidents and experts and professors. Fang Qingye met with Director Luo.

Director Luo was the highest-ranking official representative attending this forum summit. He knew many experts and bank presidents present and greeted them with smiles. In particular, the bank presidents rushed to shake hands with him.

Fang Qingye didn't go over, but took a moment to wave and smile at Director Luo as a greeting.

Director Luo also saw Fang Qingye standing not far away and waved to her.

Unexpectedly, this seemingly insignificant action was noticed in the somewhat chaotic setting.

Wang Zhenxi.

Wang Zhenxi kept trying to get a handshake with Director Luo, but there were too many people around him, so he could only stand on the side and wait for an opportunity.

Director Luo just waved to someone, and he turned his head curiously in the direction of the wave, only to see Fang Qingye!
"President Fang, do you know Director Luo?" Wang Zhenxi asked in shock.

"Of course I know them, but they don't know me," Fang Qingye said with a smile. "Let's find an opportunity to go up and shake hands, introduce ourselves, and maybe then we'll get to know each other."

"But I just saw Director Luo waving and smiling at you?"

"Me? You must be mistaken. I'm just a county-level bank manager, and I've only been in office for less than two years. How would they know me? People like you, Chairman Wang, are more likely to be recognized," Fang Qingye explained.

That's true.
In terms of scale, Baoshang Bank is much larger than Jinghai Bank. I was the one who sent people to set it up. To be honest, I don't think much of it!
How could Fang Qingye possibly know Director Luo?
Perhaps I really misread it?

There were other people next to Fang Qingye; perhaps Director Luo was greeting someone else.

As Wang Zhenxi was lost in thought, he suddenly heard Fang Qingye whisper, "Chairman Wang, hurry up, there are fewer people in front of Director Luo now."

When Wang Zhenxi saw this, he realized it was true and, without thinking about it, quickly went forward.

Fang Qingye smiled slightly and said nothing.

This Wang Zhenxi is always trying to curry favor with people.

I don't know how many people they dragged down with them.

Of course, this is not something I need to worry about.

At 9:00 AM, the summit officially began, and the organizers delivered a passionate speech:

The Central Financial Work Conference emphasized that we must unswervingly follow the path of financial development with Chinese characteristics, focus on five key areas: science and technology finance, green finance, inclusive finance, pension finance, and digital finance, and accelerate the construction of a modern financial system with Chinese characteristics and a strong financial nation.

The audience erupted in enthusiastic applause.

Director Luo also delivered a speech, mainly focusing on how small and medium-sized banks can develop in the face of adversity. He pointed out that against the backdrop of "economic downturn, tightening regulation, intensified competition, and market diversion," small and medium-sized banks need higher operational wisdom, precise and efficient innovation to meet market demands, and the ability to professionally manage and accurately price risks.

It still has some practical value. Following this, several experts and scholars took the stage to speak, each offering their perspectives on the problems faced by small and medium-sized banks in the current environment and their solutions.

There were also questions asked during the session, creating a lively atmosphere.

But Fang Qingye was still looking forward to the speech by the executive from the Southern Bank of the United States that afternoon.

Judging from the list provided by the conference organizers, it seems to be a Chinese person, or someone of Chinese descent?

His name is Chen Danlu, former vice president of the Southern Bank of the United States.

"Former vice president?" He resigned?

Fang Qingye was a little curious.

At 2 p.m., the forum resumed, and Fang Qingye finally met Chen Danlu.

He was in his thirties, thin, and wore glasses.

The host also introduced him, saying that he graduated from the School of Economics and Management of Tsinghua University with a bachelor's degree, and then went abroad for further studies, obtaining a master's degree in financial economics from the Chicago Booth School of Business. After graduation, he worked in the credit department of Citibank's New York branch. Two years later, he resigned and joined Ally Bank, a well-known internet bank in the United States, as the head of operations management. After working there for three years, he moved to Southern Bank as the vice president of the bank, and recently resigned and returned to China.

That's quite an impressive resume.
Fang Qingye listened attentively to his speech.

"Ladies and gentlemen, good afternoon. My speech is titled 'Small and Medium-Sized Banks Should Embrace the Internet'."

"In 1995, a bank called Security First Network Bank was established in Atlanta, USA. This bank was so special that it had no physical branches and operated entirely online. Its main business covered financial services such as electronic check payments, savings accounts, credit cards and interest checks, and it ensured transaction security through SSL protocol and a dual encryption system."

"At that time, the internet was still in its infancy in the United States, and most people in China didn't even know what the internet was."

"The bank presidents present here all have physical branches to varying degrees. We cannot completely copy the Security First Network Bank's operating model, but it has given us some inspiration: fully embracing the Internet and vigorously developing Internet-based finance can help us break through the difficulties we face."

"Striving to build an online bank"

Tailor-made financial services for different mobile industries

Here's an example of a "comprehensive upgrade of e-banking services":
Many bank apps currently have a pitifully low number of active users. For example, a bank might run a promotion and attract a million customers, but very few will actually make a purchase. Why? Because the bank hasn't invested heavily in its mobile banking platform. They don't know what each customer looked at, how long they stayed, or their overall activity. This is because many bank mobile banking apps are transaction-oriented and cannot track the entire customer journey.

"Why? Because there are too few buying points. How can we increase the buying points and make every customer behavior digitized? We can definitely conduct deeper operations."

The speech was rather long, and the audience found it somewhat tedious, some even whispering and gossiping among themselves.

Fang Qingye listened with great interest.

Hmm. Not bad. I'll find some time to have a deeper conversation with him.

After the afternoon meeting, the participants ate a buffet at the hotel. Many of the bank presidents went out to have a meal together, some with fellow villagers, classmates and friends, and some even invited some experts and scholars who attended the meeting.

It is said that for big names like Lang Xianping, dinner invitations are booked well in advance.
Fang Qingye declined some invitations from bank managers, and he noticed that Chen Danlu was still eating at the hotel buffet without being invited by anyone.

Perhaps they just returned from abroad and don't know anyone yet?

Fang Qingye carried the tray over.

(End of this chapter)