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 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 […]
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 […]
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 […]
In Part 1 of this blog, we examined some of the industry buzzwords being discussed and what they mean to community-based financial institutions. Brady Chianciola, PRI consultant, emphasizes that buzzworthy concepts should be considered in the context of the FI’s overall business and profitability strategy. Robotic Process Automation (RPA). RPA mimics the tasks that have […]
As the banking industry changes and evolves, some buzzworthy concepts are rising to the top of board room conversations. In this two-part blog, we’re looking at some of those buzzwords and what they mean to community financial institutions. Digital Transformation. “Old school” banking, also known as when everything was done in person and on paper, […]
Competing in the treasury management space is becoming more challenging as technology expectations grow. It’s also a highly desirable (and profitable) space for the FI to play in. So, what can the FI control when serving the all-important treasury management client base? They can provide a client-centric experience from start to finish. Control and streamline […]
No aspect of the financial ecosystem is more dynamic than the payments space. FIs who choose to continue doing what they have always done without closely examining their needs and desired strategy will find themselves in a poor competitive position. “While community bankers are necessarily dependent upon their vendor relationships to deliver services to their […]
Technology has been a catalyst for fundamental change in financial institutions for more than a decade. The pandemic accelerated these changes, especially in lending and operations. The most significant trend in lending in 2021 will be increasing digitization. At the onset of the pandemic, many FIs scrambled to address the need to process PPP loans […]
