Regions' initiative to boost the skills of Small and Medium-sized Business (SMB) and affluent bankers

Regions' initiative to boost the skills of Small and Medium-sized Business (SMB) and affluent bankers

Regions Bank Enhances Banker Training in Response to Competitive Market

Regions Bank, a key player in the Southeast U.S., is reshaping its banking approach to better serve customers and stay competitive. According to John Jordan, head of retail banking at Regions, who joined the bank a year ago from Bank of America, the bank is facing increased competition from banks like Bank of America, PNC, and Fifth Third in the region.

To meet this challenge, Regions Bank is reskilling its bankers. This extensive training program equips bankers with in-depth knowledge of specific financial situations small-business customers might face and the roster of services the bank provides. Bankers are also learning to manage a portfolio of customers, rather than serving one in a more transactional way and moving onto the next.

The small-business segment is one of the most vital to Regions, serving about 400,000 of the 12 million small businesses in its footprint. Regions aims to better understand its customers, including how local entrepreneurs started their businesses, what their cash flow looks like, and who else within the bank can help the business owner if their needs go beyond that banker's focus.

On the mass-affluent side, the 300 bankers are getting enhanced training on credit and wealth offerings. The training is a mix of virtual, instructor-led sessions and video learning. While much of the bank's investment into the reskilling effort is "hard to quantify," according to Jordan, the bank is putting significant resources into improving its tools and resources for small business clients to stay relevant.

Regions Bank is also focusing on having branch managers call small businesses and get to know their needs. This personal touch, combined with the bank's digital offerings, aims to provide customers with customized, personalized experiences that allow them to interact with the bank digitally and personally.

The reskilling effort for bankers includes a career path that leads toward branch manager and other roles. The bank started planning its reskilling effort mid-last year and expects to be done by the middle of 2025.

This reskilling push is part of a wider trend in the banking industry, as traditional banks respond to competitive pressures from fintech companies, digital-only banks, and evolving customer expectations. Banks are increasingly prioritizing workforce transformation through reskilling and upskilling as a strategic response to automation and market shifts.

| Aspect | Likely Focus for Regions Bank (Based on Industry Trends) | |-----------------------------|---------------------------------------------------------------------------| | Competitive challenge | Increased fintech and digital competition in Southeast U.S. | | Reskilling focus | Digital skills, data literacy, AI/automation adaptation | | Strategic approach | Internal upskilling, mobility programs, reducing reliance on external hiring | | Industry context | Consistent with banking sector trends responding to automation pressures[3] | | Regional workforce trend | Part of Southeast/global shift toward future-ready workforce development[1][2] |

This reskilling effort at Regions Bank is part of a larger industry trend, with leading banks prioritizing workforce transformation through reskilling and upskilling as a strategic response to automation and market shifts. However, specific case studies or detailed reports on Regions Bank's reskilling efforts are not currently available in the public domain.

1. With the escalating competition from fintech companies, digital-only banks, and traditional rivals like Bank of America, PNC, and Fifth Third, Regions Bank is investing in education-and-self-development to enhance their bankers' technology skills, enabling them to better serve the small-business segment.
2. In response to the increasing pressure from market shifts and automation, Regions Bank's business strategy includes a focus on finance, reskilling bankers to adapt to AI/automation, and emphasizing on employee learning, which aligns with the wider trend of workforce transformation in the banking industry.

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