The Libor Transition is Coming. Banks Should Start Planning Now

The Libor Transition is Coming. Banks Should Start Planning Now

Although it’s been a conversation in the industry since 2014, the dialogue around sun-setting Libor (London Interbank Offer Rate) is intensifying. Published daily, Libor is the interest rate benchmark upon which many other interest rates are based. With its replacement, SOFR (secured overnight financing rate), widely agreed upon, Libor’s planned retirement in 2021 has made advice from...

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Uncommon Sense: Why Change?

Uncommon Sense: Why Change?

Prior to initiating a significant change, leaders should communicate to employees why their company needs to change. They don’t need to have all the answers. For example, they may not know what to change or what to change to yet? Still, they should articulate why they need to change.  It’s quite simple.…

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Conversational Banking: Financial Services Firms Must Invest or Be Left Behind

Conversational Banking: Financial Services Firms Must Invest or Be Left Behind

Last year, I wrote about conversational interfaces and how they have the potential to disrupt business and technology paradigms over the coming years. To recap, conversational interfaces are an emerging high-level system design model where interactions occur in the user’s spoken or written natural language. Most commonly they are a voice-driven virtual assistant like Alexa or a text-driven...

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Uncommon Sense: False Hope

Uncommon Sense: False Hope

In this blog, I identify several pitfalls that can stand in the way of creating value. Unless leaders acknowledge these potential pitfalls and take steps to mitigate them, then the idea of creating value is nothing more than a false hope. This is the third blog in a series I’m writing, targeted to those with a stake in creating value in companies.…

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The Four Opposing Forces of Customer Loyalty Programs

The Four Opposing Forces of Customer Loyalty Programs

Many of today’s customer loyalty programs were built for a different, pre-digital marketplace. Once-straightforward tactics such as providing coupons, discounts, or basic points systems to drive card usage are no longer enough to move the needle on inspiring true customer loyalty. In an increasingly complex and digital marketplace where “smart” consumers demand real-time, seamless experiences...

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Uncommon Sense: Necessary Conditions

Uncommon Sense: Necessary Conditions

The goal of a for-profit company should be to make a profit now and in the future. That said, there are three other necessary conditions that lead to long-term profit and drive sustainable value. Profit gains can be achieved at the expense of these other three conditions, but rest assured they will be short-lived.…

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7 Thoughts on the BB&T and SunTrust Merger Announcement (from the Banking M&A Experts at West Monroe)

7 Thoughts on the BB&T and SunTrust Merger Announcement (from the Banking M&A Experts at West Monroe)

On February 7, BB&T and SunTrust banks announced their intent to merge. It is poised to be the biggest bank merger in a decade and create the sixth-largest bank in the United States. As directors in West Monroe’s financial services practice, we do our fair share of merger integration work in the industry—especially at super-regional, mid-market banks like these.…

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Uncommon Sense: Begin with the End in Mind

Uncommon Sense: Begin with the End in Mind

What is the goal of your company? What should it be? How do you know if projects are contributing to the goal? In this blog, I address these questions and more. This is the first blog in a series I’m writing called Uncommon Sense: Practical Advice to Creating Value, targeted to those with a stake in creating value in companies.…

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Lean Methodology in Banking M&A

Lean Methodology in Banking M&A

Utilizing Lean methodologies as part of your M&A strategy may  help your bank realize more value. To be expected, acquisitions can cause significant disruption to the day-to-day operations of a bank. Because of the potential change in business processes as well as reallocation of the workforce, this disruption creates a significant opportunity to implement a Lean Culture into the...

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Target Operating Model Design: How and Why to Prepare Your Bank for Your Next Acquisition

Target Operating Model Design: How and Why to Prepare Your Bank for Your Next Acquisition

Integrating two banks can a time-consuming, expensive, and demanding process, which is why it’s important to plan early and comprehensively. It’s common for banks to experience missteps leading up to and following an integration, which can result in poor experiences for customers and employees – at worst, resulting in unwanted attrition of customers and employees.…

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2018 AFP Conference: Will Banks Have Evolved Their Treasury Management Messaging to Reflect ‘Easy?’

2018 AFP Conference: Will Banks Have Evolved Their Treasury Management Messaging to Reflect ‘Easy?’

Treasury management customers have been expressing their need for an easier customer experience with their banks. Our 2018 research with corporate practitioners supports this conclusion, defining 10 criteria for being an easy bank to work with: While easy doesn’t drive bank selection, easier banking absolutely drives subsequent relationship growth. Business grows when the bank is easy and...

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Email: marketing@westmonroepartners.com
222 W. Adams
Chicago, IL 60606
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