3 considerations as things return to ‘normal’

Traditional financial institutions have been fighting to overcome evolving market challenges long before COVID-19. In many ways, the pandemic amplified many of these obstacles and accelerated the need for more competitive loan, account and member growth strategies. As we return to some sense of normalcy, consider these three strategies to help meet the post-pandemic needs of your financial institution and accountholders.

1. Remote Banking Solutions

Strengthening loan-to-share, liquidity, and revenue can be a challenging task; especially now. To more effectively support a strong, balanced growth strategy, consider offering your consumers solutions that will simplify their banking needs, while at the same time offering your institution new revenue opportunities. Examples include:

  • Online and mobile banking capabilities, including remote deposit capture and digital account transfer services
  • Fee-based checking programs that offer certain retail benefits or discounts to accountholders
  • Flexible, long-term deposit options offering high returns, such as CDs and money market accounts
  • ‘Social-distancing friendly’ payment tools, like contactless, digital and top-of-wallet solutions
  • Updated share draft and deposit account pricing models to reinvigorate growth and revenue


continue reading »