I'm reading a really excellent book about community banking and an *arresting* line from it was, approximately: "A typical community bank has $150M in assets and a 4% net interest margin for about $6M in revenue covering 40 FTEs. Community banking is thus a small business."
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Reading about the regulatory overhead, marketing challenges, and attempting to be Dangerous Professionals while one only has 40 people to do it with (most of whom, numerically, are *not* Dangerous Professionals but are regulated as if they were), I felt like "Maybe still do SaaS"
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Concrete consequence of this: a small bank FTE pool is dominated by tellers, bankers (sales reps), and loan officers. None of those are typically lawyer-level competent at regulatory state machines. You have to manage them as if they were, plus assume some are adversaries.
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A SaaS shop with $6 million in revenue would probably have 10~20 employees and doesn't have to build all of their processes assuming that literally anyone could be attempting to steal all the money at any time. ("Literally anyone?" CEO, CFO, etc are particularly large risks!)
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