Operational Efficiency

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Getting people on board for a successful digital transformation

With financial institutions of all sizes undergoing digital transformation, a vast array of new technologies are being designed to cut costs, increase convenience and deepen customer relationships. As they roll out new technologies, however, many FIs are realizing the challenge of getting customers to change their ways.A top-down digital culture is necessary to drive transformation at a Read More

By |2020-05-27T18:16:24-05:00February 27th, 2020|Comments Off on Getting people on board for a successful digital transformation

Successful change starts with employee involvement

Welcome to another decade, banking. Efficiency needs to top our lists of resolutions: Meaning, institutions must become efficient enough to not only survive a rapidly changing landscape, but also thrive as competition ramps up from both technology companies focused on banking and tech players once relegated to social media and e-mail. This industry “faces a new combination Read More

By |2020-05-27T18:16:24-05:00February 26th, 2020|Comments Off on Successful change starts with employee involvement

How customer experience benefits from operational efficiency

As the banking industry faces tighter margins and increasing competition for customers, many financial executives find themselves looking to cost reductions and department downsizing to better their bottom lines.Yet, those who take a balanced approach and identify the right operational efficiency initiatives may find that what’s good for profit margins may also improve the customer experience. Automation, Read More

By |2020-05-27T18:16:24-05:00February 20th, 2020|Comments Off on How customer experience benefits from operational efficiency

The right tools for the finance job

Faced with thinning margins, increasingly complex regulations and consumer demands for digital channels, today’s financial institutions find themselves under more pressure than ever to use their time and resources as efficiently as they can. Behind the scenes, the finance department bears much of the responsibility for meeting evolving industry requirements: developing a strategic vision for revenue-generating products, Read More

By |2020-05-27T18:16:25-05:00February 12th, 2020|Comments Off on The right tools for the finance job

Fighting fraud with operational efficiency

Inefficiencies such as a bank’s disjointed data systems, manual processing of authentication for new account openings or outdated payment processes don’t just cause headaches for employees and customers alike — they also play directly into the hands of fraudsters. Although these kinds of operational inefficiencies don't rise to a level as egregious as leaving the vault unlocked, Read More

By |2020-05-27T18:16:25-05:00February 10th, 2020|Comments Off on Fighting fraud with operational efficiency

Peerless ideas, pleased customers: How to overcome 3 challenges in managing the life of the loan

Inefficiency in lending makes it tough for financial institutions to service customers effectively and grow the loan portfolio. Many of these inefficiencies are inherited and accepted as “just the way we do things.” But to work smarter—not necessarily harder—and provide customers a good experience, fresh ideas and processes can challenge the inefficiencies. Across the banking industry, loan Read More

By |2020-05-27T18:00:05-05:00October 21st, 2016|Comments Off on Peerless ideas, pleased customers: How to overcome 3 challenges in managing the life of the loan

Success factors for fixing the bank

When channel switching on TV, I always tend to linger on three programs: Kitchen Nightmares with the always-profane Gordon Ramsey, Restaurant: Impossible with Robert Irvine, and Bar Rescue with Jon Taffer. Each host operates as a consultant dealing with booze or food rather than financial issues, but the situations they address, their approach to problem solving and Read More

By |2020-05-27T18:00:08-05:00July 22nd, 2016|Comments Off on Success factors for fixing the bank

Time to change out legacy systems

Historically, financial institutions have adopted technology with a best-of-breed approach, utilizing different platforms from different vendors. This is especially true in check processing, where multiple platforms are leveraged to support a single financial transaction or payment type. The end result is multiple platforms, multiple vendors, multiple support resources – and multiple headaches.To process a single check, a Read More

By |2020-05-27T18:00:08-05:00July 19th, 2016|Comments Off on Time to change out legacy systems

Three tips for growing core customer relationships

Have you heard this from a community banker? “We are uniquely positioned to service the affluent customer.” And, “Our service is second to none.”Don’t fool yourself. Your prospects don’t know about your service unless it causes problems for them. And, very few community-based financial institutions are more uniquely positioned to serve the affluent class than are their Read More

By |2020-05-27T18:00:09-05:00June 27th, 2016|Comments Off on Three tips for growing core customer relationships