Felisha Dowdy, vice president, senior community banking and treasury management relationship manager, Paducah Bank
Years in current job: 11 months
Years in the banking industry: 20+ years
How is rapid M&A/industry consolidation affecting your business? Change is a normal part of any industry and creates opportunity. This helps institutions benefit from scale, enhanced delivery channels, technology and client accessibility. We believe that talent and commitment to the market will always be a driver of client preferences regardless of industry changes.
What would you change about the way financial institutions operate in the United States? I believe clients will be the driver of change within our industry. Our client base is much more informed and aware than ever before. Financial institutions will need the capability to adopt emerging technology that today is often classified as disruptive. If our clients demand ease of use for payments, connectivity via social networks or transformational interactive experiences, the industry will need to find a way to respond.
How is automation and artificial intelligence impacting your business? Technology and capabilities are rapidly progressing in this industry. AI is used in payments processing as a delivery method from consumer to bank. It also assists in fraud prevention and detection. With the industry technology emerging today, we can build loyalty, cut costs, and enhance security for our clients.
What’s been the best development in your sector of banking over the last year? I think the evolving critical development in banking is technology. Helping our clients streamline their day-to-day financial operations is a reality with the advancements that have been made in technology. Making the investment in customizable technology is the best opportunity to assist our clients in the growth of their business.
What industry sectors are Louisville banks lending to most now? And why? The most visible segments are commercial real estate, multifamily housing and small business. The easiest and most accurate answer to “why” is because these sectors were in need of investment within our market.
Favorable financing terms afford companies the opportunity to open locations, purchase equipment, and invest in talent and technology to meet consumer demand. I believe both consumer and commercial space will remain active as we move ahead.