3 roles every financial institution needs to fill

by: Natalie Powers

We recently attended the BAI 2014 Retail Delivery Conference to see what’s new, improved, and trending in the realm of financial service delivery and engagement. Not surprisingly, much of the discussion revolved around how to effectively adapt and evolve. Here’s a truth that credit unions (and probably some local banks) need to face: your competition is changing and evolving faster than you are.

Organizations that are focused on where they want to be, rather than where they are today, are creating solutions to make banking easier. If your strategy isn’t looking any further ahead than next year, you’re only answering the problems that have been solved yesterday by online technology. Consumers have more options available to them than ever before, so if you want to win them over you’ve got to put the right pieces in place today and begin to truly focus on meeting tomorrow’s needs.

Here are three key roles any financial institution needs to fill in order to be successful. If any of these are missing, it’s time to hire somebody who can effectively fill the role or find a strategic partner to assist you with the missing element(s).

1. An innovative, up-to-date information technology manager.

This person’s primary role is bringing cutting-edge technology to the financial institution while creating bottom-line savings. Repairing hardware should be the least of his or her daily functions.

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