Navigating the economic impact: 2023 financial institution budgeting & data strategies

Just as the financial industry is feeling a collective case of whiplash – we arrive in budget season. It’s been a while since the industry has been on such a roller coaster, and that has even the most seasoned financial professionals scratching their heads about how to plan for 2023.

A recent Jack Henry U.S. strategic priorities benchmark study found that many financial institutions are sharing the same four concerns heading into 2023:

•  The Economic Outlook
•  Waning Customer Loyalty
•  Exploding Services and Payment Trends
•  Which Technology Is Worth The Investment?

Banks and credit unions have a wealth of insights within their account holder data, but must improve how data is put into action. The way to combat all of the above concerns? Using data intelligently.

 

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