PRI Blog

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.

Why Culture Matters During a Merger & Acquisition Integration

In our last blog, 5 Things Your FI Should Do to Prepare for a Merger or Acquisition, Sue Schmiedeler, project manager at Profit Resources Inc., highlighted five ways to help stem customer and employee attrition during the M&A process. Mergers and acquisitions, which have been a dominant trend in banking for decades, continue to drive […]
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5 Things Your FI Should Do to Prepare for a Merger or Acquisition

Mergers and acquisitions continue to be a dominant trend in the financial industry and, in fact, have been so in banking for decades. According to the Financial Brand article, Three Major Trends in Credit Union Mergers and Acquisitions (thefinancialbrand.com), FIs including smaller credit unions are eyeing M&A closer than ever in the current climate. “Jim […]
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Methods to Create Effective Customer Journeys for Your Bank

In our last blog, Jen Megee, PRI project manager, discussed customer journey mapping, how it can improve the customer experience and help solve problems for financial institutions such as high abandonment rates for new loan or deposit account applications. In this blog, Profit Resources Director of Customer Experience Tom McGill dives into creating effective customer […]
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How Journey Mapping Improves Customer Experience

With the continuing evolution of new and more advanced digital platforms, financial institutions face increasing pressure to deliver a seamless, easy customer experience to people who have become accustomed to self-service channels and instant responses.  Jen Megee, PRI project manager, reminds clients that they cannot solve a problem like high abandonment rates for loan or […]
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The 5 Most Common Mistakes in Strategic Planning

Because regulators require financial institutions to have a strategic plan, FIs do make sure they exist. However, it is common to create a strategic plan as a “check the box” activity rather than leveraging it to drive organizational success. Leveraging the strategic plan includes ensuring that the team understands it and are held accountable for […]
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Why Does Strategic Planning Matter Now More Than Ever?

The Federal Reserve’s response to the last economic cycle in 2008 and in the present inflationary time has an immediate impact on financial institutions and the financial services industry. Forward-thinking and careful strategic planning is crucial to help FIs meet the current challenges. Ty Glenham, consultant at Profit Resources, Inc., looks at strategic planning and […]
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Wasting Time: 8 Opportunities for Improving Operational Efficiency

Customer expectations have driven much of the transformation in products and services that are now being delivered by financial institutions. Because of that, transformation is typically at the forefront of client experience strategy. However, process improvement often lags or is overlooked when it comes to operational efficiencies. Often viewed as not having a direct client […]
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How Financial Institutions Maximize Revenue from Interchange Income

Currently Financial Institutions are experiencing increasing pressure on non-interest income. Forward-looking FIs are investing in maximizing their debit card interchange income to push back against these pressures and promote institutional growth.  In PRI’s blog, Maximizing PIN Debit Card Interchange, we took a deep dive into the differences in PIN networks and how they affect a […]
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What is Interchange Income and How Do You Calculate It?

Mike Holt, PRI partner,discusses interchange income and how it’s calculated in this week’s blog. What is interchange income? Simply put, interchange is the small percentage of each credit card and debit card purchase amount that is paid to financial institutions by merchants for the privilege and convenience of accepting payments via the FI-issued cards. Interchange income […]
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