Spinnaker Listed #1 on RVA25’s Fastest Growing Businesses in Richmond

Cutting-edge technology, coupled with the disruption of COVID-19, has driven significant change in the banking industry this past year. Consumers are now more apt to choose online banking services – a trend that’s been bolstered by the continued ingenuity of the fintech segment. And while customers are keeping banks on their toes with continued demand for new tech, we expect that demand to be accompanied by new policy and regulatory pressure in the next five years.

As most entrepreneurs will tell you, developing a business plan is one of the first critical to-do’s for establishing a new entity. Once that item is checked off the list, there’s often an eagerness to move straight into execution. But hammering out the details of your organization’s “what” is only a starting point. Particularly in professional services, there’s tremendous value in solidifying the very meaningful – albeit intangible – elements around team and culture, which are big drivers in enabling effective execution.

Since change is a constant in banking, turning change management into a superpower is one of the smartest moves your bank can make right now. Internally, you’re no doubt addressing demands to launch new products and services for customers. At the same time, you’re dealing with external pressures such as regulatory updates and unpredicted events such as the coronavirus pandemic.