PRI Blog: Process Improvement

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.

AI and Automation in Community Banking

Just more than a year after OpenAI released its Large Language Model (LLM) chatbot ChatGPT and the rapid expansion of AI in general, many in the banking industry are looking at how they can join the AI race. However, the desire to jump into AI without a clear plan or understanding of what AI platforms […]
Continue Reading

Future-Proofing Financial Institutions: Navigating Trends, Technology, and Strategic Innovation

The community banking industry is at a pivotal stage. Financial institutions have experienced continuing margin pressure over the past year, demonstrating less rate elasticity than many anticipated in the rising rate market. They also have seen increasing pressure from non-banking competition and rising customer expectations. With the drastic contraction of the number of deposit-holding institutions […]
Continue Reading

The Power of Curiosity in Process Improvement Strategy

While there are many in-depth approaches to process improvement initiatives out there, often small- to medium-size financial institutions have neither the time nor the resources to tackle a complete overhaul of the organization. With that said, there are countless valuable opportunities available to make small improvements that will lead to excellent results. Cultivating an atmosphere […]
Continue Reading

5 Common Pitfalls to Avoid in Process Improvement Projects

Process improvement means change to any organization and tends to be met with some level of resistance. Because change is not necessarily easy, process improvement projects don’t always move forward like they should. With the constant change in the banking landscape, particularly with technology, it is critical that process improvement projects remain a priority and […]
Continue Reading

Unlocking Customer Engagement: Strategies for Enhanced Experiences

You’ve done the hard work of acquiring a customer, and now you want to deepen the relationship. Customer Engagement is the process – or journey – that can result in increased loyalty, advocacy, and customer lifetime value. But how does a financial institution go about attacking the Customer Engagement challenge? While there is no simple or comprehensive list of strategies, Tom McGill, PRI Director of Customer Experience, tackles a few topics to consider that can be effective as you move down the engagement path.
Continue Reading

Why Intentional Process Improvement Matters 

Intentional process improvement and how it applies to the strategy and culture of a financial institution is not always at the forefront of senior leaders’ minds. When it’s not, it can easily fall by the wayside. Sometimes FIs subscribe to the view, “If it ain’t broke, don’t fix it.” This perspective can lead to a […]
Continue Reading

Preparing for a Focus on Process and Efficiency

When asked why it is vital to take the time to focus on efficiency and effectiveness in a financial institution, the go-to answer typically involves reducing costs and improving profitability. At PRI, however, cost reduction and improved profits as primary drivers are prioritized behind enhancing the customer experience. Mikelle Brady, PRI partner, says that the […]
Continue Reading

7 Tips for Getting the Most Out of Your Core System

With all the current hype about Cloud-Native Core Solutions, it’s easy to become overwhelmed by all the choices available. In our last blog, Mike Neale, PRI Director of System Evaluation, highlighted the considerations FIs should take into account when deciding whether to implement a core solution designed for cloud deployment. He said that while cloud […]
Continue Reading

Wasting Time: 8 Opportunities for Improving Operational Efficiency

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 […]
Continue Reading

Search Profit Resources