Lee Blank, Market Executive, Regions Bank

Lee Blank, market executive at Regions, spoke with Invest: about assisting customers in an industry facing uncertainty and rapid changes. “If a client is focused on their goals, stays committed to their plan, and adjusts according to changes, having a solid financial plan is critical in helping navigate through uncertain times.”

Reflecting on the past year, what have been some of the most significant milestones or achievements for Regions in your market?

The relocation of our Nashville-market headquarters to Music Row was a key element. We consolidated our business groups into a new space in an area of town where our clients are accessible and our associates have more access to the location. It’s been a successful transition. Our continued partnership with the NHL Nashville Predators is another key element. It’s been our first full year of activation with the Predators, and the partnership continues to be impactful for the Preds and Regions. 

How would you describe the current economic landscape in the Southeast and Midwest regions, and what implications is it having for regional financial institutions?

The Southeast and Midwest regions are extremely strong and growing. The current economic environment is one in which policies are being developed, and we don’t know where everything will settle, so there is some disruption from the macro level. That’s where our experience and our consistent, long-term presence in this market help differentiate Regions. Commercial clients are cautious and planning for how they are going to sustain their businesses in the future. On the consumer side, rising interest rates have affected the market; however, people are going back to making decisions based on what they need on a personal level, not based on interest rates. And we’re well positioned to advise them.

What trends are you seeing in consumer and commercial banking behavior across your markets, particularly in response to inflation and interest rate shifts?

The metrics still look reasonably good, and the consumer side is strong. We’re seeing a slowing on discretionary spending because of economic uncertainty and where inflation is moving, especially on the lower-income side. The consumer has been resilient, but they are making more measured life decisions. They may want to move forward on certain transactions to help their families, or they decide not to spend as much or take a smaller vacation to save money. People are making more judicious decisions based on their life needs. For commercial customers, there was a lot of inventory buildup in the first quarter before the tariffs hit. The impacts of policies and tariffs are still to be seen, and everybody is in wait-and-see mode. 

What sectors or types of businesses are showing the greatest demand for capital and financial services currently, and how is Regions meeting those needs?

There are winners and losers with changes in tariffs. Those who manufacture domestically and have more supply chains based here will be less impacted. Many manufacturers who have elements of their sourcing through imports will be more impacted. Some service industries and providers are still stable. It’s too early to tell who will have a clearer path and who will have to retool and readjust their business practices. 

How is Regions leveraging its Greenprint® personalized planning approach to support clients navigating today’s economic uncertainties?

Regions Greenprint is an excellent example of how we go the extra mile for Nashville – a community we’ve served for more than 140 years, which is longer than any other bank. We’ve seen economic cycles come and go; yet our commitment to financial guidance remains the same. We lean heavily into the planning process because while there is disruption currently, if a client is focused on their goals, stays committed to their plan, and adjusts according to changes — having a solid financial plan is critical in helping navigate through uncertain times. 

How have technological innovations, such as digital banking and AI-enhanced financial tools, transformed how Regions engages with its clients?

We will generally be a fast follower of technology. We are using forms of AI through our digital channels. We believe in relationships and engaging with clients. We will use AI in our processes to simplify and assist our bankers and advisors and enable us to harness the information we have at our fingertips to help clients make better decisions. AI is an additive that will help us simplify and improve our processes, but at the end of the day the relationship between our clients and bankers is the most important part of what we do. 

Have you noticed a shift in clients’ expectations in recent years?

Clients want everything. Clients want access across all channels, including phone, digital, and in person, and the move toward digital transactions has accelerated over the last several years. Clients are much more accustomed to having instant service for transactions and money movement. We continue to invest in modernizing our technology platforms. 

What are the biggest headwinds you see for the banking industry over the next 12 to 18 months, and how is Regions preparing to address them?

Fraud continues every day. Criminals have a day job, too. They’re trying to get better every day and find new ways to defraud both people and businesses, and they are using new technology to do so. Regions, and the industry as a whole, are fighting against fraud every day. We are doing a great job, and as an industry we are finding ways to work together to help protect clients. Criminals are always probing to find weaknesses, and we have to be vigilant every day. We also provide education for clients through seminars, whitepapers, and online banking reminders. Customers want a safe and secure experience for the protection of their money and personal data. We help clients navigate the complex and rampant world of fraud that every business faces. Safety and security are paramount to customer service.