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.
In today’s world, community financial institutions find themselves at a crucial crossroads: how to combat escalating fraud risks without sacrificing growth, customer experience, and ultimately profitability. The task is not just to minimize fraud losses, but to do so without costing the bottom line. Striking this balance is essential because effective fraud management is no […]
In a time when digital payments and online accounts dominate the financial landscape, it may be surprising to learn that millions of Americans still live outside the traditional banking system – often at great personal cost. For community banks, implementing strategies to effectively reach these market segments is an opportunity to strengthen local economies, build […]
The current buzz around using Artificial Intelligence (AI) is loud in just about every business sector out there. For financial institutions, both AI and automation matter a lot when you’re talking about profitability and long-term success. However, banks – especially community banks – have some unique challenges to consider when they begin seeking to implement […]
While going with your gut can work in some scenarios, it can put you at a disadvantage when it comes to loan pricing in the highly competitive community banking space. Community bankers pride themselves on operating by relationship and providing personal service to their customers, and implementing a loan pricing model takes nothing away from […]
Niche banking is transforming the financial landscape by focusing on specialized market segments and delivering highly tailored services that traditional banks often overlook. Unlike the broad, one-size-fits-all approach of legacy institutions, niche banks develop deep expertise in the unique needs of their chosen communities. For traditional banks, the rise of niche banking offers valuable lessons. By learning from the specialists, mainstream banks can enhance their own offerings, improve customer satisfaction and stay competitive in an evolving digital marketplace.
A key part of assessing whether a financial institution is maximizing its system utilization is evaluating its current technology stack to ensure it aligns with their stated strategic plans and goals. A thorough evaluation is likely to uncover a technology gap list where the current technology is not fully supporting their goals. Identifying a technology […]
As financial leaders scan the horizon to determine what is in the future for community banking, they are examining every organizational area that can be improved. They are asking, “Where do we need to get better in order to succeed?” and “What is the winning combination?” PRI consultant Brett Rawls says the answers lie in marrying process improvement with strong strategy and cultures of efficiency within the bank.
A key aspect of success in today’s competitive banking environment is the ability to use data analytics to identify trends, improve operations, control costs and enhance the customer experience. Leaders rely on effective data analysis to make better business decisions, but that analysis requires strong reporting capabilities. However, sometimes those capabilities are hidden within the […]
In the PRI article Wasting Time: 8 Opportunities for Improving Operational Efficiency, Director of Process Improvement Jen Megee said that the biggest area to examine for wasted operations time is the failure to utilize current systems to their fullest potential. One of the keys to fully utilizing the systems you already own and reaping the […]
April is Community Banking Month, which the Independent Community Bankers of America (ICBA) calls “a celebration of the independent spirit and unwavering commitment of community banks to help consumers and small businesses achieve their financial goals to create communities of prosperity nationwide.” In April, PRI is celebrating some of the excellent community banks that we’re […]
