Make no mistake: efficiency is a competitive edge. Consider these tips when fine-tuning your processes.
When bankers seek outside advice for improving their institutions, they need to follow through on the recommendations they agree to implement.
Rather than just focusing on cost-cutting in their branches, bankers need to improve the performance of their branch workforce through predictive analytics.
Bank managers implementing an open office environment need to also change the organization’s culture rather than leaving it up to individuals to cope with the change.
Restoring the ‘fun’ in banking requires bringing back appropriate risk taking and innovation.
A detailed (and enforceable) business performance management strategy can help banks meet their performance goals.
Financial institutions need to pay their employees enough to attract good talent but not to the point where it hurts labor efficiency on a relative basis.
Many retail banks are missing the chief goal of onboarding, which should be to establish the bank as the customer’s primary cash management provider.