Writer: Alejandro Sanchez
2 min read November 2021— Banking leaders in Atlanta are building upon the challenges from the last 18 months to consolidate a stronger, more resilient industry. Technology as well as diversification are two of the main drivers behind this transformation. As the region continues to attract more residents and businesses, banks are confident in the potential of Atlanta’s financial sector.
“The region has experienced an economic rebound following the start of the pandemic. There are many opportunities for businesses to get the resources they need and we are eager to help more Georgia companies meet their financial goals,” Fifth Third Bank Regional President for Georgia Randy Koporc said during an interview with Focus:.
The technological transformation within the industry is not only making operations more efficient, but it is also opening new business possibilities for financial institutions. “On the commercial side, what we’re seeing is that there is still a tremendous opportunity to accelerate the digitalization of commercial payments and operations for clients,” Koporc said. “It’s accelerating a lot more now in response to the pandemic and forcing a lot of people to analyze how they are managing those processes – especially accounts payable and accounts receivables – which is a unique capability for Fifth Third.”
While leaders agree that the increased incorporation of financial technology is important for the industry, in-person interactions will always be critical for nurturing and retaining relationships with clients. “The financial industry’s most prized asset is trust. People have to see you physically, look at your body language,” Carolyn LaRocco, president at Cardea Capital, told Focus: “Technology is more about competitiveness. You need to continuously review your technology to sharpen your edge.”
As the banking sector ventures further down the technological landscape, it will look to the past to uncover future opportunities. What that means for Atlanta’s financial industry will be a main topic at the Focus: Atlanta 2021 Launch Conference on Thursday, Nov. 18. The panel discussion, “Financial Future: How yesterday’s challenges are influencing tomorrow’s innovations and opportunities,” will look at the transformation of the industry and the region as a national focus for the expansion of financial institutions. Moderated by Adrian Cronje, CEO of Balentine, the panelists will be Fifth Third Bank’s Regional President of Georgia Randy Koporc; Cardea Capital Investment Committee Chair Carolyn LaRocco; and Hancock Askew Tax Partner John McElderry.
To register for the event, click here!