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.
When asked why it is vital to take the time to focus on efficiency and effectiveness in a financial institution, the go-to answer typically involves reducing costs and improving profitability. At PRI, however, cost reduction and improved profits as primary drivers are prioritized behind enhancing the customer experience. Mikelle Brady, PRI partner, says that the […]
When a financial institution conducts a merger or acquisition, one of the main aspects the organization’s leadership tends to prioritize more than others is system conversion. While this is of course a major factor, there is much more to successful M&A integration than this one piece of the pie. Mike Holt, PRI partner, says there […]
In this blog, Phil Jarrell, debit card services expert at PRI, examines the new rule and how it may affect FIs. Jarrell said the key lies in whether the issuer’s network supports PINless transactions. ______________________ Thanks to the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Federal Reserve has required […]
In the blog Top Buzzwords in Banking and What They Mean to Community Institutions, PRI consultant Brady Chianciola discussed “digital transformation” and how it goes much farther than simply digitizing an FI’s operations. The term refers to truly transforming the company and strategically changing the way it operates for the customer’s journey. “Digital transformation means […]
Florida’s Longboat Key was the picturesque setting for this year’s annual PRI meeting in early November. The team reviewed the vision and mission of the organization – better known as “The PRI Way” – and took a deep dive into the digital trends that are coming and how they can be leveraged to better serve […]
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 […]
