ConnectOne Bank is using cloud analytics to better understand which loan products, deposit services, and financial management expertise it can offer to a new generation of customers.
“At first, we were really worried that the fintechs were going to drive us out of the market. But now, we’re actually looking to partner with some of them and are adapting our business model so we can anticipate the needs, timelines, and expectations of this new, millennial generation of customers.”
Despite the threats of a sluggish economy, floating interest rates, and a harsh, post-recession era regulatory environment “...running analytics in the cloud has helped us identify the right mix of products and services to help both our business and our clients’ businesses succeed.”
“The greatest benefit of using the cloud to manage our financials has come from analytics. If our net interest margin is down in a certain category, we can immediately drill down into the data, see what the issue is, and then quickly make an adjustment to correct it.”