Fighting the fallout of friction
How are you making sure processes are moving, efficient, and effective for members and are promoting your growth?
“Friction” has become quite the buzzword in financial services in recent years, and for good reason—it’s a powerful force that can slow down processes, harm efficiency, cause member discomfort and dissatisfaction, and ultimately inhibit an institution’s growth.
While strategies for reducing friction have been top of mind for credit union management and executive teams for years now—after all, this is not a new phenomenon—the emergence of the COVID-19 pandemic and its economic ramifications has brought the issue even more front and center.
Filene recently asked more than 150 credit union leaders about sources of friction in their institutions as part of “The Art & Science of Organization,” a two-day virtual discussion sponsored by State National Companies.
As a business partner to thousands of credit unions for almost 50 years, we were deeply interested in hearing what these leaders had to say as they do their best to steward their credit unions successfully through these (we won’t say it) (yes, we will) “unprecedented” times.
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