In the aftermath of the storm, one news story and one incredible image stood out from all the rest.
"Winning organizations always work from the customer back — to ensure everything that goes on in their companies is driven by what their target customers want and need."
— Chuck Bruney, Founder & CEO, Align fsc, Inc.
Too many banking leaders think time spent on strategy is wasted. What's needed is a process -- a system. In this blog post, I'll show you how to create one, step by step. Trust me, it works!
You’ve cobbled together two distinct organizations with widely different histories and competencies. And, that’s largely because they operate in very different kinds of markets that have presented unique opportunities and challenges. From these differences come two very different cultures.
On a quarterly basis, Align professionals take a close look at the U.S. consumer credit market size and growth -- by credit product type, type of lender and borrower risk. For the fourth quarter of 2016, we saw some notable trends:
Topics: Business Intelligence
Picture this... I was having dinner the other night, and I turned around and saw a table of young folks that were behaving exactly like the millennials in this picture. I bet you've had a similar experience.
One particularly important outcome of the market dynamics of the last twenty plus years is that consumers are no longer to their banks. Instead, they are shopping for value and transferring large portions of their finances from one provider to another with little concern for fidelity. And, why not? They have a wider array of choices than ever before from an expanding and diverse pool of capable providers (e.g., Fintech companies) who are transforming themselves into convenient, lifestyle-oriented partners. What’s more, the situation is getting worse. As a result of the product, delivery marketing and service shortcomings, bank customer satisfaction ratings have been plummeting.
In the April 2016 edition of the Harvard Business Review (HBR), Jay W. Lorsch and Emily McTague suggest that culture isn't something that you "fix;" rather "cultural change is what you get when you put new processes or structures in place to tackle tough business challenges."*
As we enter our 10th year, we realize this milestone was made possible by the support of clients, friends, and associates like you. We offer our thanks, and wish you much peace and great joy during this holiday season and throughout the New Year.