PRI Blog: People & Culture

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path of least resistance can lead FIs to continue doing things the way they always have – even when the processes are outdated and inefficient.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, 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 […]

In the last of our three-part series about efficiency, we will touch on three ways to establish a structure that supports a culture of efficiency at your FI.   Efficiency goals should be born out of benchmarks. The FI can pick one or two they want to focus on, establish what success looks like and how […]

In our last blog, Efficiency: Why Do We Care?, we laid out a case demonstrating the benefits of improving FI efficiency. When an institution sets a goal to become more efficient and has a plan to push efficiency in the organization from the top down, there is one crucial question to ask. What do we […]

With Baby Boomers retiring at an accelerating pace over the next 10 years, there is a critical need for financial institutions to focus on executive succession planning. The 2020 Crowe Compensation and Benefits Survey revealed that 50 percent of FI executives are 56 or older, and 28 percent of managers are in this cohort. With […]

After 45+ years in the banking industry, Tim Holt, founder of Profit Resources Inc., has seen many transformational changes. Yet, remarkably, the foundations of community banking have remained unchanged. He recently reflected on a perception issue of one of these ever-important foundations – customer payments and how community bankers view debit cards versus checks. Risks […]

To successfully adapt operations to a post-COVID world, many FIs are focusing on two main areas: Workforce and technology. “The pandemic itself didn’t present any real ‘aha’ moments, but it elevated considerations that were on the back burner and brought them to the forefront of leaders’ thinking,” said Gladys Rodriguez, PRI Consultant/Project Manager.  Workforce In the […]

Developing a digital strategy is all about using the tools currently available to improve both the customer and the employee experience. There are ways of achieving both as part of a Financial Institution’s digital transformation journey.   Most digital transformation efforts begin with customer-facing services, such as mobile features and online account opening. This is […]

Customer behavior has changed and will continue to change during the course of the COVID-19 pandemic. The longer the pandemic lasts, the more significant the behavior change is likely to be and the more likely those changes are to endure beyond the end of the crisis. Over the last several weeks, we’ve been connecting with many […]

The team at PRI enjoyed meeting so many of you at the state banking conventions in September! It was a busy month as we crisscrossed the country to attend seven different conventions. These events offer a wonderful opportunity to connect directly with community bankers and others in the industry. An overarching theme we heard in […]