Banks and Credit Unions are continually challenged by changes in revenue models, keeping pace
with technological innovations and competitive pressures. When trying to assess overall strategic goals, priorities and productivity of the back office and operational areas, financial institutions are often shackled by internal politics and exposure to the broader market.
Performing due diligence on the industry solutions and assessing what your needs are in terms of internal training, leading edge or established technology is an essential strategy.
One of the greatest challenges facing financial institutions today is the lack of differentiation among competitors. Opportunities for revenue growth are battling expense reduction for top consideration in an institution’s long term goals and objectives. Long term goals and objectives must be linked with practical strategies, tactics and initiatives that move the organization toward achieving its stated purpose.
Using our knowledge of best practices and expertise gained from assisting hundreds of banks and credit unions with their planning endeavors, ICI can ensure the successful development of your organization’s Strategic Plan.
To take advantage of the strategic opportunities and minimize the risks, ICI recognizes that there are no cookie cutter approaches. ICI will conduct comprehensive survey of your solutions, technology, workflows, processes, branches and back office operation to include the following areas:
After ICI has completed the survey process and verified the review contents with financial institution staff, ICI will make strategic recommendations and answer questions in the following areas:
ICI's value comes from the ability to offer advice from a broader perspective and an organized process. ICI Consultants have over 300 years of experience in the Bank and Credit Union industries.
We will add our knowledge and understanding to the Assessment engagement. ICI will deliver a plan that is all inclusive, unbiased, easily implemented and a source of guidance for future decisions. We want to avoid providing just another binder on the bookshelf.
Whether or not you have implemented these solutions before, ICI's Assessment Services will provide the following deliverables and benefits:
Action Plan: ICI will ensure that the Strategic Plan is properly executed and that it does not gather dust on an executive’s shelf.
Deliver a Custom Strategic Plan versus a cookie cutter approach. From working with hundreds of financial institutions, we realize that all clients have unique requirements that demand a custom strategy to resolve its challenges.
Take the fear and guesswork out of cost justifying, evaluating and implementing new solutions.
Enable organizations to quickly execute new strategies and initiatives.
An ICI consultant, who has an average of 25 years of experience and counseled dozens of clients in the financial industry, will advise your organization.
ICI will provide you with a detailed report card and recommendations for those areas with the greatest potential for improvement.
Show where investments may be required; where strengths and weaknesses lie; where support contracts should be modified; where opportunities are to upgrade antiquated technologies to newer, higher value technologies.
Make Management Team or Personnel Recommendations.
Identify areas where integration between systems may be improved in order to maintain end users focused on Customer or Member Service Excellence initiatives. This approach will increase client satisfaction, retention and cross-sales opportunities.
Ensure that systems are implemented with the appropriate levels of performance and value.
Identify any best practices improvements in the areas of: security, process, project prioritization and collaboration between departments.
Determine if technology projects are in harmony with strategic business goals to support Bank or Credit Union growth strategies.
Here are just a few examples of Assessment and Strategic Recommendation Report engagements that ICI has delivered:
Top 3 National Bank:Assessment and Strategic Recommendation Services
Mid-Atlantic Community Bank ($225 million): Bank-wide Assessment and Best Practices Assessment
Florida Bank ($2.2 Billion): IT Personnel and Budget Assessment
Northwest Bank $3 Billion): Build-out, relocated and expanded operational facility
National Bank ($155 Billion): Market Research
Top 25 Bank:Market Research
Iowa Community Bank: Lockbox Marketing Assistance, Lockbox and Check Imaging Business Case and Vendor Evaluation
Australian Vendor:
New York Bank ($650 M): Back Office and Core Processing Assessment and Strategic Recommendations
Tennessee Bank ($1 Billion)Back Office Assessment and Strategic Recommendations, ATM Processing Evaluation, Merchant Capture Marketing Advice, Check Imaging Business Case and Vendor Selection
National Bank ($105 Billion): Market Research
Top 30 Bank: Benchmark Report
Southern Bank ($9 Billion): Online Banking Strategic Recommendations, Vendor Evaluation and Implementation
Ohio Bank Service Bureau: Core Processing and Check Imaging Assessment and Strategic Recommendations
Swedish Corporation:
Virginia Community Bank ($160 Million): Online Bank Strategic Recommendations
Top 1, 2 and 4 National Bank Outsourcing Companies: Core and ancillary product recommendations
New Mexico Community Bank:Marketing Assistance
North Carolina Community Bank: Cash Management Marketing Assistance
If your institution's Strategic Plan is collecting dust on a bookshelf, all of the time, effort and capital that went into the creation of the plan were wasted. We will help your institution implement the initiatives set forth in the Strategic Plan developed by ICI or execute and significantly add to those ideas set forth in the original strategy.
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