PRI Blog: Process Improvement

It’s not a one-off project, and there’s really no end point. Digital transformation is constantly evolving and must be part of a thoughtful, ongoing business strategy. With time and staffing currently in such a crunch, the FI must be laser-focused on what will be the most impactful solutions to address customer pain points. A new […]

With continued talk of a recession and ongoing economic uncertainty, financial institutions are searching for creative ways to increase profitability. The PRI team’s expertise goes deep in this area, and in this week’s blog, Jen Megee, Director of Process Improvement at PRI, shares five proactive actions financial institutions can take to make a meaningful impact […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]