Our blog is dedicated to sharing our thoughts and expertise about the banking industry and how you can experience quantifiable results for your financial institution. We invite you to hear the perspectives from our banking professionals through our posts.
Thinking about implementing a credit card program at your financial institution? Before embarking on the launch of a credit card program, an institution must consider if they want “to own or not to own.” According to Michael Fuccillo, PRI credit card consultant, it is important to evaluate the available issuing options periodically and implement the […]
If yours is like a lot of businesses this year, the end of 2024 has already brought the unpleasant news that employer healthcare costs are rising again by anywhere from 5 to 10% on average. If your financial institution doesn’t find ways to offset this increase, you may be heading into 2025 already behind your […]
While your financial institution is likely aware that debit cards generate significant interchange fees, it may be selling the complete picture of debit card value short. In addition to an average of $0.34 to $0.52 cents per transaction depending on how much your customers spend and where they shop, frequent debit card usage helps build […]
When online banking first emerged in the 1990s, it was presented as a simple method to cut costs. The prevailing logic was that the cost-per-transaction – almost always a balance inquiry – was less expensive than a visit to the branch or a call to the call center. The term “Customer Experience” was not yet […]
Can we talk about chargebacks? When a cardholder contacts a financial institution about a non-authorized transaction – also known as a dispute – it triggers a costly, multi-step back-office procedure referred to as a chargeback. Processors can charge as much as $35 for a chargeback only to inform the institution that the merchant denied the […]
As long as there have been financial institutions, there have been frauds and scams designed to separate them from the money they steward. The tactics have changed over time, but the results are the same – the bank is left holding the bag when fraud occurs, and for a small- to medium-sized community bank, the […]
The Financial Brand reports that up to 70% of businesses say that fraud losses have increased in recent years, and more than half of consumers feel they are more of a fraud target than a year ago. Experts warn that Generative AI will be one of the greatest drivers of fraud in 2024, making it more accessible to do-it-yourself […]
What does a high performing financial institution have in common with Rocky Balboa in Rocky IV? More than you’d think at first glance! In the film, Rocky confronts Ivan Drago, who prepares for the match using high-tech equipment, a team of experts monitoring his every movement, and regular doses of steroids. Rocky, however, focuses on […]
In considering how a technology strategy enhances strategic planning, PRI Director of System Evaluation Mike Neale says he tends to think of things slightly differently. A technology strategy is not just an enhancement to the strategic planning process, it is born from the business strategy and supports it wholly. Technology strategies should not be developed […]
Sound strategic plans are essential to the long-term success of a financial institution, and involving the right people in the process is vital to an organization’s success. Too often, senior leaders overlook the value of inviting and including their young future leaders at the table. Mikelle Brady, PRI partner, says PRI has seen in its […]
