The bank is an operational nightmare that has never been on the right path, or any path for that matter. Deposits are stagnant, the mortgage product is a joke and vehicle lending has no clue how to compete in the market.
The bank has been developing new software for FIVE years and it’s still not right. That’s absurd and unacceptable for even the smallest operations out there. The 1940’s business model the company runs on is dead and has been for a long time. Bank products are difficult to sell and the company continues to make it more difficult for an already under-trained sales force to make sales. It would come as no surprise if they announce a complete shutdown of bank next month.
Frontline staff takes a beating and leadership believes metrics are the solution to everything. Yet we rarely see a shakeup at upper management levels or leadership and haven’t for years. Let’s put some metrics behind their performance as leaders and executives and see how that looks. But wait, the results are too ugly so we stopped that. It’s very unfortunate for the employees.
The best thing they could do is drop the ‘serve our customers better’ motto and throw in the towel. You’re running on fumes, State Farm.