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.
There has been a large amount of information coming at us recently about how the banking industry is adapting to new challenges, including what’s happening in general with distribution channels and service delivery. However, distribution is not a “one size fits all” game. Each financial institution should have its own distribution strategy built on the markets […]
Do you need a PIN network? And does it really matter which one you select? Yes! You do, in fact, need two PIN networks, and it does matter which you select … if you are interested in maximizing profits. All PIN networks have the same basic function of processing transactions with or without a PIN […]
As we continue to grow and evolve in response to a global pandemic, financial institutions are accepting that the 2021 world of banking will look much different from that of 2019. The good news is that experts are predicting a relatively healthy rebound from the first half of 2020, but they are also warning that […]
Financial institutions have experienced new transaction volumes in the past three months due to the pandemic. Many customers are approaching their bank or credit union in new and different ways, and as digital transactions increase, FIs must be ready to respond with the appropriate core solutions. These new volumes can help predict future product mixes, […]
Dealing with the challenges of a global pandemic has led many financial institutions to make changes in their services and processes to address urgent customer needs. This ability to pivot, be flexible and facilitate easier customer interactions will surely be one of the silver linings to come out of COVID-19. When we emerge into the […]
As states begin to reopen and Round 2 of the Paycheck Protection Program (PPP) is wrapping up, financial institutions will return to pre-COVID operations. Or will they? At Profit Resources Inc., we believe the pandemic is providing a unique opportunity to review how financial institutions of all sizes operate and serve their communities, customers and employees. Here […]
Customer behavior has changed and will continue to change during the course of the COVID-19 pandemic. The longer the pandemic lasts, the more significant the behavior change is likely to be and the more likely those changes are to endure beyond the end of the crisis. Over the last several weeks, we’ve been connecting with many […]
Are you having trouble accessing or getting additional users on eTran? If you are having difficulty accessing the SBA site, try these options available to assist both SBA-approved and non-approved lenders: 1. SBA Connect – A system developed by Amazon to assist non-SBA lenders with applying for PPP loans quickly and efficiently. 2. SBA Complete – A large third […]
During this difficult time, community financial institutions are set up for success because they tend to be relationship lenders. But how can we be proactive instead of reactive? This is an opportunity for community financial institutions to focus on customer relationships. If they haven’t already, lenders can review their portfolios now instead of later. We […]
Customer behavior has changed and will continue to change during the course of the COVID-19 pandemic. The longer the pandemic lasts, the more significant the behavior change is likely to be. Over the last several weeks, we’ve been connecting with many of our community financial institution clients. Many community financial institutions are experiencing customer limit […]
