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.
With all the current hype about Cloud-Native Core Solutions, it’s easy to become overwhelmed by all the choices available. In our last blog, Mike Neale, PRI Director of System Evaluation, highlighted the considerations FIs should take into account when deciding whether to implement a core solution designed for cloud deployment. He said that while cloud […]
It’s coming, and it’s in the cloud. But is it right for my financial institution? This is a very astute question, according to Mike Neale, PRI Director of System Evaluation. Financial institution leaders are currently hearing a great deal of hype about Cloud-Native Core Solutions, but it’s wise to slow down and evaluate these solutions […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
Financial institutions have been forced to pivot in the past two years to address the unexpected disruption of the pandemic. FIs made great strides early on by implementing customer-facing digital solutions quickly to meet the needs of their account holders. However, many did not have the bandwidth initially to consider the backroom processes that support […]
