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.
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 […]
As we highlighted in Part 1 of this blog, 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. In Part 1, Jen Megee, PRI project manager, discussed two ways to provide a client-centric experience to the […]
The PRI team gathered from seven states in Tampa, Fla., on Nov. 11 to discuss current business trends, new product launches, personal career development and problem-solving strategies for a complex world. In the fast-moving financial industry, tackling challenging problems in the workplace requires more skill than ever before. In a session facilitated by Rebecca Armacost, […]
As we discussed in our last blog, change can be daunting. When an FI recognizes that doing things the way they always have could be leading to negative consequences for their organization, they may decide to change processes, allowing for increased efficiencies, improved morale, and increased profits. Establishing a proactive culture that asks the tough, […]
Change can be daunting. Understandably, the tendency to stick to the path of least resistance can lead FIs to continue doing things the way they always have – even when the processes are outdated and inefficient. Have you ever asked the simple question of your team, “Why do we do it this way?” The common […]
In our last blog post, Sue Schmiedeler, project manager at Profit Resources Inc., discussed best practices in project management that ensure the financial institution can minimize business disruption and maximize efficiencies and long-term benefits, including profitability. In this blog, she shares 10 tips to facilitate better and more effective project management. Assess the risks. Every […]
When launching complex projects such as a core conversion or merger and acquisition activities, financial institutions are wise to dedicate substantial time and resources to planning and project management. A good project management process will minimize business disruption and maximize efficiencies and long-term benefits, including profitability. Sue Schmiedeler, project manager at Profit Resources Inc., recently […]
In our last blog post, we discussed the importance of integrating “best practices” during mergers and acquisitions to maximize efficiency and reduce costs. But that’s only part of the story in an integration; in this blog, we will tackle the issue of culture integration. When any acquisition is announced, the press release invariably extols the […]
Merger and acquisition integration of technology requires a close look at the different processes and best practices of the Financial Institutions involved. Most FIs have similar processes, but they may go about them differently with varying levels of efficiency. Often, the acquiring institution converts the processes of the acquired FI completely without first thoroughly reviewing […]
