Address the educational, emotional and financial needs of your new customers & members.
Recent years have yielded moderate merger activity and lower valuations among banks following peak activity in 2007, yet industry followers have noted signs that activity is poised to pick up fairly significantly in 2017 and beyond. Among the drivers for bank merger activity, issues like capital, regulatory changes, potential rising interest rates and technology and data have joined the traditional drivers of deposit growth and geographic expansion for banks.
Anticipate and communicate the realities of system conversion impacts to your customers & members.
The call for updating legacy technology and migrating customers to new platforms has not ceased and is not likely to do so for the foreseeable future, regardless of the logic behind it. With the increase in technology spend, challenged only by investments in risk and compliance, effective communications strategies are critical for any migration of customers from one system to another.
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