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 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 […]
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 […]
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 […]
As we discussed in our last blog, How Every Bank Can Benefit from Hiring a Consultant, financial institutions are uniquely positioned to serve their customers and often benefit from a fresh perspective and the best-practice experiences across the banking industry that a banking consultant brings to the table. In this blog, Bill Zumvorde, PRI Director […]
Financial institutions, while uniquely positioned to serve their customers, share many issues and challenges in common. The ability to bring an objective outside banking consultant to the table offers valuable insight and benefits that the FI may not have considered before. These include best-practice experiences across the banking industry that can be leveraged by the […]
