Regions Bank 2012 Annual Report Download - page 9

REGIONS 2012 ANNUAL REPORT
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remote deposit capture product in 2013 is expected
to provide increased efficiency and convenience to
our customers who prefer mobile banking.
While we believe there will always be opportunities to
improve our efficiency ratio, we are being disciplined in
our approach to expense management. We believe we
should be very thoughtful in making investments and
eliminating expenditures in order to mitigate the risk of
unintended consequences so that we do not reduce our
ability to serve customers and grow our business.
Our belief is that expense reductions and investing
for growth should be balanced. We also believe that
expense discipline should be part of our bank’s
culture rather than introducing occasional efficiency
campaigns where the pressure to meet short-term
cost cutting targets supercedes good judgment over
the long term.
Creating Shared Value – When Our
Customers Win, We Win Too
In recent years, we have implemented many new
growth initiatives, most of which are showing great
promise. But just as important is our value system,
which serves as the cornerstone for how we run this
company.
In the wake of the financial crisis, we have reaffirmed
our commitment to these values and our mission.
During the crisis, the banking industry was criticized
for a variety of practices that led to a lack of trust in
banks and bankers. As a result, the industry still has
work to do to rebuild confidence among its customers
and the public at large.
There is little doubt that rebuilding public trust will
take time. In the meantime, I believe it is incumbent
upon Regions to take a fundamental approach to
dealing with customers, one based on relationships
rather than transactions. To that end, we have shifted
Regions away from the transactional mindset toward
a business model that is built on the values of respect,
integrity and relationships – and always acting in the
customer’s best long-term interests. Truth be told,
banking should be simple and straightforward and
result in customers being sold products they need
and understand. This is basic banking. In many ways,
it is just a return to the fundamentals of banking
historically practiced by this industry.
There is a term for this approach: creating shared
value with relationship banking.
For Regions, creating shared value means that we
will develop sustainable relationships that are driven
by serving the long-term interests of our customers
and communities.
As part of our commitment to shared value, we now
ask ourselves three questions when we develop a
new product or service:
• Doesitmeetourcustomers’needs–
and do so in the best way for these customers?
• Doesitdeliverlong-termsustainablevalue
to Regions?
• Doesitcreatevalueforourcommunities?
This decision-making process ensures that we are
doing more than just offering products and services
that produce a profit. We are also building stronger
customer relationships, a sustainable business and
Our mission is “to achieve superior
economic value for our shareholders over
time by making life better for our customers,
our associates and our communities and
creating shared value as we help them
meet their financial goals and aspirations.”
2009
2010
2011
2012 40%
30%
33%
38%
CUSTOMERS USING ONLINE BANKING