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.
While a financial institution’s project portfolio is continuously reassessed as new projects come up, the beginning of the year is a good time to ensure that the current portfolio aligns with the overarching strategic plan and projects are prioritized accordingly. It’s also a good time to update procedures and governance documents and assess Project Management […]
Classic Charleston served as the perfect backdrop for PRI’s annual meeting in November, where the focus was all about growth and the many ways it can take place in a company and team. PRI welcomed 10 new members to its team in 2024, reflecting significant growth across several departments and the ability to offer new […]
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 […]
