When Midwest BankCentre, a community bank in St. Louis, launched the digital-first Rising Bank in February, it joined the ranks of other financial companies —generally large players such as JPMorgan Chase, Wells Fargo and MUFG Union Bank — that have created separate, digital-only brands. Unlike them, the $1.9 billion-asset Midwest hopes to keep a community bank feel at the internet-only unit.
We’ve engaged a group called XpertSavers to help us organize our thoughts about this and deliver this package that provides optimal customer experience; that’s our goal — and minimize our costs over the long term.