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.
At PRI, we spend our days helping financial institutions look at every aspect of their businesses to determine where they can improve their processes, which leads to enhanced culture and employee engagement. There are many avenues of attack we can take that lead to improved efficiency and increased profitability, which is our ultimate goal. As […]
For almost every financial institution (except de novo institutions), a current core system is already in place. Changing core and ancillary systems creates a significant change event that will impact productivity and morale. It’s not an endeavor to be entered into lightly! In the PRI article 7 Tips for Getting the Most Out of Your […]
Strategic planning is a process used by financial institutions to identify short and long-term goals, determine the strategies necessary to accomplish those goals and devise an approach to evaluate progress. While strategic planning usually takes place at the senior management and board of director level, it can often stall out there, never driving down into […]
At PRI, we spend our days helping financial institutions look at every aspect of their businesses to determine where they can improve their processes, which leads to enhanced culture and employee engagement. There are many avenues of attack we can take that lead to improved efficiency and increased profitability, which is our ultimate goal. As […]
Debit card interchange income is the top contributor to deposit-based non-interest income for most banks, and if it’s not for yours – you must ask why! Two factors make debit card interchange income a smart thing on which to focus growth efforts. First, interchange fees are not paid by your customers (see “What is Interchange […]
While there are conflicting outlooks on what financial institutions can expect from the economic environment in the next five years, experts generally agree that “expecting the unexpected” is a sound business practice. Major global or national events are always possible, although the potential impact is not yet fully understood or there is disagreement on what […]
At PRI, we spend our days helping financial institutions look at every aspect of their businesses to determine where they can improve their processes, which leads to enhanced culture and employee engagement. There are many avenues of attack we can take that lead to improved efficiency and increased profitability, which is our ultimate goal. As […]
While digital transformation and its risks are top-of-mind for the majority of financial institution senior leaders, there is still a wide gap between the cost of implementing digital solutions and their eventual success within the organization. In fact, in 2019 research indicated that up to 70% of digital transformation initiatives did not reach their goals […]
It’s not a one-off project, and there’s really no end point. Digital transformation is constantly evolving and must be part of a thoughtful, ongoing business strategy. With time and staffing currently in such a crunch, the FI must be laser-focused on what will be the most impactful solutions to address customer pain points. A new […]
With continued talk of a recession and ongoing economic uncertainty, financial institutions are searching for creative ways to increase profitability. The PRI team’s expertise goes deep in this area, and in this week’s blog, Jen Megee, Director of Process Improvement at PRI, shares five proactive actions financial institutions can take to make a meaningful impact […]
