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.
Benjamin Franklin once said, “If you fail to plan, you are planning to fail.” His quote could not be more applicable to bank board succession planning, especially in today’s quickly changing world. While director succession may be one of the more sensitive topics in the boardroom, director development and board repopulation should be regular agenda […]
After 45+ years in the banking industry, Tim Holt, founder of Profit Resources Inc., has seen many transformational changes. Yet, remarkably, the foundations of community banking have remained unchanged. He recently reflected on a perception issue of one of these ever-important foundations – customer payments and how community bankers view debit cards versus checks. Risks […]
To successfully adapt operations to a post-COVID world, many FIs are focusing on two main areas: Workforce and technology. “The pandemic itself didn’t present any real ‘aha’ moments, but it elevated considerations that were on the back burner and brought them to the forefront of leaders’ thinking,” said Gladys Rodriguez, PRI Consultant/Project Manager. Workforce In the […]
An important issue in an FI’s long-term strategic planning is Board of Director governance. To be effective in its main role of oversight, the board must have qualified and actively engaged directors who understand their strategic and high-level role within the FI. Especially in times of economic uncertainty, the board should have a deep understanding […]
During the pandemic, many FIs have been forced into a reactionary mode of addressing deferments, PPP loans, renewals, modifications, portfolio management and some new loans. All these issues have added to the dreaded “credit churn.” When the FI touches credit issues such as new analysis, DSC calculations or credit memos falling under the same borrower […]
Amazon Prime Day is October 13! But what does that mean to you and your financial institution? It’s time to remind customers to use your debit card. Here are some tips to increase interchange income for Prime Day (and any day!): – Remind all cardholders that the biggest deals on Prime Day are on electronics, […]
Developing a digital strategy is all about using the tools currently available to improve both the customer and the employee experience. There are ways of achieving both as part of a Financial Institution’s digital transformation journey. Most digital transformation efforts begin with customer-facing services, such as mobile features and online account opening. This is […]
COVID-19 and the changing economy have created uncertainty. While bankers have weathered many of the initial concerns, all are now wondering what the fallout will be and asking, “What’s next?” Preparation and looking ahead are the keys to minimizing potential loss and creating a successful future. One area that bankers should be digging into now […]
If your financial institution last updated its strategic plan pre-COVID – or worse, it never had a strategic plan in place – now is the time to revisit the planning process. A nimble, well-constructed strategic plan allows an FI to make necessary adjustments, quickly, in a rapidly changing business climate. One thing is for certain: […]
COVID-19 is presenting various pressures on financial institutions in 2020. The economic impact is unprecedented with borrowers–both consumer and business–struggling to make loan payments and survive during these uncertain times. How an FI responds with its credit underwriting and managing borrower loans and relationships will have a significant impact on credit quality and profitability for […]
