Developing Strategies for Success

The financial services industry is changing rapidly. Survival requires adaptation to new challenges and new ways of doing business. For many companies, this will also require a significant change in company culture and business practices, along with the adoption of new technology tools and the creation of strong third-party partnerships.

Working with your management team and other key stakeholders, we help focus attention on today’s challenges and envision the desired “future state” that needs to be achieved for your company to continue to prosper. We can then assist with designing and implementing business strategies to achieve your unique goals and objectives. We favor an agile development approach that encourages experimentation and short development cycles that will quickly begin to demonstrate tangible results.

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The following are examples of past projects performed for banks and credit unions across the nation. There is no ‘one-size-fits-all’ approach to these topics. Every organization has its unique needs, challenges, and opportunities so each transformation journey will be different. Please contact us to discuss your needs and objectives.

In the dynamic world of business, change is the only constant. Whether your organization is navigating through a period of transition, grappling with a sudden gap in your management team, or striving to achieve a new strategic goal, having the right leadership in place is crucial. This is where an interim executive can help.

We have experienced executives with a proven track records in banking. We specialize in stepping into organizations during periods of change, helping them stabilize, grow, and succeed. We bring fresh, objective perspectives, coupled with deep industry knowledge and a commitment to achieving your strategic objectives.

In an interim executive role, we can offer:

  • Speed and Flexibility: We’re often available to step in immediately, ensuring minimal disruption to your organization.
  • Expertise and Experience: We offer extensive experience and specialized skills to navigate complex business challenges effectively, particularly in the areas of strategy, finance, digital banking, marketing, and data analytics.
  • Objective Perspective: We provide impartial insights and to help make tough decisions and drive the changes necessary for your company’s future.
  • Training and Development: We can help groom your next generation of leaders, setting your organization up for sustained success.

Let’s schedule a call or a meeting to discuss your needs and how we can contribute to your company’s success during this pivotal time.

Your company’s digital strategy is the roadmap for the future and is critical to your company’s long-term success. This is particularly true given that our industry is experiencing a significant transformation triggered by rising customer expectations, advancing technology, and heightened competition from both traditional and non-traditional players. It’s important today to be willing to challenge legacy business models and old ways of thinking. We can help you define your survival plan, prioritize initiatives, and create a viable implementation framework and timeframe. Services include:

  • Board/Management educational sessions on strategic and digital transformation issues
  • Digital strategy development/facilitation or independent review of the existing plan
  • Competitor analysis & customer insights
  • Project prioritization & planning
  • Identification of cultural issues that can inhibit progress
  • Evaluation of post-pandemic challenges & opportunities

Digital banking systems can be complex, and even the best of them don’t install themselves. Bringing in new systems and functionality requires a focused project management approach that often crosses departmental lines. Many financial institutions do not have the available staff to handle this specialized activity. We can help with:

  • System selection/RFPs, and project prioritization
  • System installation & project management
  • Digital account opening workflow & KYC
  • Platform banking strategies
  • Product innovation through the use of technology and ‘middleware’ systems
  • Custom solution development using Agile processes
  • Release planning/product life cycle management

Data analytics techniques can reveal trends and metrics that would otherwise be lost in the sheer mass of available data. These results can give invaluable insights into usage trends and identify opportunities to offer individualized insights that will improve customer engagement and satisfaction. The benefits of customer analytics include:

  • Improved cross-sales, which strengthens customer loyalty, retention, and profitability
  • Customer/relationship profitability reporting & pricing models
  • Customer segmentation to identify shared needs and opportunities
  • Personalization of customer offers based on product/channel usage, in-house transactional data, and third-party data sources
  • Ability to anticipate needs and proactively offer meaningful solutions through AI and Machine Learning
  • Data warehouse design, development, implementation and governance

A satisfied, engaged customer is not only more profitable, but they are also much more likely to stay with you and recommend your company to others. Creating loyal customers begins with gaining a deep understanding of their needs and frustrations, and then creating an environment in which they can easily understand and select solutions relevant to their goals. Levering customer analytics, we can assist with:

  • Strategies to build digital engagement and adoption rates, including coordination of activities with branch and service center personnel
  • Creating an enhanced onboarding process to improve customer engagement & profitability.
  • Use of Agile processes to facilitate product innovation targeting solutions tailored around specific needs
  • Website enhancements & content marketing strategies
  • Discovery of customer needs and friction points using techniques such as design thinking and customer journey mapping
  • CRM system selection and implementation
  • Streamlining deposit account opening processes – particularly through mobile and online channels while maintaining a strong KYC posture
  • Creating straight-through loan application/underwriting/approval/onboarding processes
  • Development of success metrics and ROI for marketing strategies

The long-term prosperity of any company depends upon having a clear understanding of the drivers of growth, profitability, and customer engagement. Without systems in place to monitor the present and plan for the future, important opportunities may be overlooked. We can help you create the tools you need to understand your business, including:

  • Management reporting systems that deliver actionable insights to support data-driven decisions
  • Customer profitability reporting systems & pricing models
  • Key performance indicator (KPI) identification and reporting
  • Incentive compensation models
  • Redesign of legacy processes to take advantage of new technology and realize substantial improvements in productivity and efficiency
  • Deposit growth strategies
  • Branch closure/consolidation strategies
  • Line of business analysis – current and/or prospective

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