Robert Cribari was recently promoted to vice president and operations manager for deposit servicing for BankNewport.
Cribari has more than 30 years of banking experience and has worked at BankNewport since 2018. He previously served as the bank’s loan operations manager.
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PBN: What does your new position entail?
CRIBARI: I am responsible for the daily operations of all loan-servicing functions, such as loan onboarding, tax and insurance payments, and customer service requests, as well as the oversight and control of the daily functions for BankNewport’s Deposit Operations team.
PBN: How has COVID-19 impacted loan servicing?
CRIBARI: Since the onset of the pandemic, the biggest difference is probably the most obvious: the fact that most of us must work from home. We have been able to keep our day-to-day operations in “business as usual” mode, and although it did take some time for folks to get used to working from home, my teams haven’t skipped a beat.
With the introduction of PPP loans, client demand was fast and furious. However, senior leadership established a task force of associates from loan servicing, commercial lending and from our credit group. From the very beginning, we set up an efficient process where we were able to meet the needs of our customers and provide the attention and experience they have come to expect from BankNewport.
PBN: Many banks across the country reported major deposit growth by the end of the second quarter, compared with a year ago. Has that been true at BankNewport? Does that reflect new customers, or existing customers increasing their deposits, or both?
CRIBARI: Even though 2020 has been a challenging year for many financial institutions, BankNewport has risen to the challenge. We have a resilient staff that remains focused and dedicated to our customers, which I feel has helped us in our communities. For example, when we rolled out the PPP [Paycheck Protection Program] loans, we saw an increased interest in BankNewport programs and services. Word traveled fast that BankNewport worked quickly and efficiently to meet each individual’s needs, which resulted in additional deposits being made by existing customers, as well as those who were new to the bank.
PBN: What long-term impacts do you think the pandemic will have on the way banks service loans and monitor deposits?
CRIBARI: It’s hard to say what impact the pandemic will ultimately have on banking in general, but as long as we rise to the challenge and continue to focus on a frictionless experience, in-person or virtually, while catering to the needs of our customers, we will set ourselves apart from other banks. Whether we are servicing someone’s loan, or opening deposit accounts, we take pride in providing excellent, unforgettable service.
It is important that we listen to our customers and provide them with new ways of doing business; whether by offering virtual money-transfer services made possible via Zelle or real-time payments, or by helping them achieve their overall financial goals, it is all about doing so conveniently and with a higher level of customer service.
PBN: How has technology and artificial intelligence factored into your department’s work?
CRIBARI: Throughout our rich 201-year history, BankNewport has always strived to offer innovative technology solutions, which has allowed the bank to fire on all cylinders during the pandemic. With our state-of-the-art artificial-intelligence solutions, we have invested in data analytics, which has provided newfound efficiencies for both our customers and employees.
To keep up with customer expectations, the bank has focused on providing faster payments. The bank went live with Zelle – person-to-person payments – just prior to the pandemic in December of 2019, offering a contactless solution to send money quickly and securely. In June, we went live with the ability to receive real-time payments through The Clearing House, the only community bank in the state to do so (and one of only 30 banks in the country to offer this convenience) to accept a payment of up to $100,000 instantly, creating better cash flow that lands in an account in seconds.
We have been able to conduct business as usual without interruption while our colleagues transition from the office to working from home.
Nancy Lavin is a staff writer for the PBN. Contact her at Lavin@PBN.com.
