News & Media

Wesley Adams, Senior vice president, commercial banking, Eclipse Bank

Years in current job: five

Years in the banking industry: 39

What motivates you in your career?

Providing for my family is my primary motivation, but I still get excited about the opportunity to participate in my clients’ success. I’ve had clients that have been loyal to me for over 30 years, and I truly appreciate their confidence in me and Eclipse Bank.

What economic concerns are you hearing about from your clients?

Interest rates currently dominate my conversations with clients. They are not only concerned with the impact higher rates have on their business operations, but also have concern about how higher rates affect the consumer, employees and general economic conditions.

What’s a common misconception people have about working with a bank?

I think clients fear communicating with their bank when challenges are experienced in their business. The bank/client relationship needs to be thought of as a partnership. Don’t wait until problems have progressed to the point that the bank can’t potentially participate in a solution.

Fintechs have changed how people find loans — what’s your read on how that’s evolving?

Fintech companies have grown well beyond being a niche in the industry and provide a glimpse into the future of delivering financial services. Traditional brick-and-mortar banks respect the competition and are quickly adapting to provide similar access. As a result, the consumer has significantly more options available and can utilize this trend to their advantage.

What’s a technology being embraced by your industry that you’re either excited about or worried about?

Artificial intelligence (AI) is the unknown. It does concern me that AI capabilities could take the human element out of decision making. Maybe it doesn’t penetrate the large corporate area of banking, but I can see small- to medium-business lending being impacted by an AI decisioning process.

What’s new in the regulatory world that you are advising clients about?

Not really a regulatory issue, but I have been advising clients to internally address controls to combat fraud. The banking industry is constantly addressing fraud issues and has well-established products to limit risk. Clients need to strongly consider taking advantage of these products.

What’s something that people would be surprised to learn about you?

We currently have seven rescue dogs spread out amongst our family. When my kids are at the house, it becomes the island of misfit dogs. They are all enjoying the good life.