PRI Blog: System Evaluation & Contract Negotiation

Community banks have invested heavily in digital capabilities over the past decade. Online and mobile banking platforms are more modern, payment options are expanding and treasury management tools are far more capable than they once were. Yet many community banks still struggle to deliver the speed, flexibility and consistency customers now expect. The issue is […]

In a financial market where margins are tight, competition is relentless and customer behavior is increasingly transparent, institutions that learn to fully leverage the data already embedded in their core technology stack gain a decisive advantage over those still relying on yesterday’s reports and mindsets. Moving away from an “order-taking mentality” to a data-driven, strategic […]

A key part of assessing whether a financial institution is maximizing its system utilization is evaluating its current technology stack to ensure it aligns with their stated strategic plans and goals. A thorough evaluation is likely to uncover a technology gap list where the current technology is not fully supporting their goals. Identifying a technology […]

A key aspect of success in today’s competitive banking environment is the ability to use data analytics to identify trends, improve operations, control costs and enhance the customer experience. Leaders rely on effective data analysis to make better business decisions, but that analysis requires strong reporting capabilities. However, sometimes those capabilities are hidden within the […]

In the PRI article Wasting Time: 8 Opportunities for Improving Operational Efficiency, Director of Process Improvement Jen Megee said that the biggest area to examine for wasted operations time is the failure to utilize current systems to their fullest potential. One of the keys to fully utilizing the systems you already own and reaping the […]

Have you ever encountered a time-wasting process at a financial institution that makes you scratch your head and say, “There must be a better way?” Often the process itself has not been reviewed for operational efficiency, perhaps even in many years. In the intervening time between when a process was created and today, it’s likely […]

In considering how a technology strategy enhances strategic planning, PRI Director of System Evaluation Mike Neale says he tends to think of things slightly differently. A technology strategy is not just an enhancement to the strategic planning process, it is born from the business strategy and supports it wholly. Technology strategies should not be developed […]

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 […]

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 […]

So, you’ve done all the major work to select a new core system, including ensuring that it aligns with your organization’s strategy and long-term goals. You’ve worked hard to select the right vendor and the right internal team to prepare for implementation, which may have taken several months or a year. Now launch day has arrived, and your top goal is to accomplish a seamless integration that will bring you out the other side without losing customers or frustrating your employees. How do you do it?