PRI Blog: System Evaluation

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 […]

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 […]

When it comes time to evaluate an FI’s core systems, organizations sometimes enter the process with a high level of frustration around their current solution or vendor. This inherent frustration can lead to a desire to make big changes. However, because changing out a core system significantly impacts an FI’s productivity, it is wise to […]

In 1984, the US had more bank charters than at any time in the country’s history with just over 14,000 charters. Since that time, on average, the number of banks has contracted by 3.3 percent per year. In 2020, the number of bank charters were less than a third of what they were at the […]

During the pandemic, many FIs have been forced into a reactionary mode of addressing deferments, PPP loans, renewals, modifications, portfolio management and some new loans. All these issues have added to the dreaded “credit churn.” When the FI touches credit issues such as new analysis, DSC calculations or credit memos falling under the same borrower […]

Financial institutions have experienced new transaction volumes in the past three months due to the pandemic. Many customers are approaching their bank or credit union in new and different ways, and as digital transactions increase, FIs must be ready to respond with the appropriate core solutions. These new volumes can help predict future product mixes, […]

While a current group of experts is loudly touting the importance of financial technology, or fintech, community institutions must evaluate for themselves whether it is really the end-all, be-all to running their organizations. They also should ask whether fintech is vital to competing with large FIs and, if so, whether any data processing company in […]

PRI recently came across this article and wanted to share it as a resource that may be helpful as you determine how you measure up.

You may be wondering about the “CTSO” moniker. Simply, it is an acronym for a phrase Profit Resources, Inc. has used in its internal discussions regarding processes, products, and services for the past 25 years: Cut That Stuff Out.