Podcast: Jill Castilla on Creating a Bankerless ‘Bank Hub’ for Small Businesses

Jill Castilla’s bank, Citizens Bank of Edmond in Oklahoma, has a one-branch strategy — but lots of big ideas for innovative ways to serve customers. The latest idea is a bankerless “bank hub” located in one of Oklahoma City’s hippest neighborhoods that will use technology to deepen personal relationships with local businesses. Castilla shares the concept in the latest ABA Banking Journal Podcast.

Inspired by conversations with neighborhood small business owners who wanted to bank with Castilla but needed closer availability of cash and coin, Castilla conceived an unmanned location, served by an ITM and providing 24/7 access to cash and coin withdrawals and deposits — a first-of-its-kind solution in its market and one that’s necessary for the many bars, shops, cafes and restaurants in the area. It also provides a customers-only conference room for business owners to have those “next-level conversations,” Castilla says.

In the podcast, Castilla outlines the technology investment and regulatory implications of the bank hub, which she says has paid for itself with there were more than $15 million in loans now attached to the site. She also discusses how the new bank hub fits into Citizens Bank of Edmond’s broader retail and marketing strategy, from its social media engagement and “CBE Cash Mobs” to Heard on Hurd, an award-winning monthly music and food truck party hosted in downtown Edmond by Citizens Bank. The bank hub is just the latest chapter in that story. It provides “a space for small business owners who need that access to cash but want a community bank feel,” Castilla says.

If you can’t see the audio player above, click here to listen to this week’s episode.

In this episode:

Jill Castilla
President and CEO
Citizens Bank of Edmond

Evan Sparks
Editor-in-Chief
ABA Banking Journal

Shaun Kern
Senior Counsel
ABA