Top Performer Banks Use Operational Excellence as a Strategic Imperative?
There’s an old football idiom that says, “the best defense is a great offense” This suggest winning is possible if your team just keep putting points on the board which does have some logic too it. In discussions of late with community bankers, they seem to adopt this same strategy for achieving their business goals. For purposes of this illustration, the flip side of gaining points (or revenue) for a bank could be the cost to generate that revenue-or efficiency ratio. In assessing an institutions performance, generally the lower the ratio the more efficient the institution is in growing profits. All too often in working with community bank partners, exploring improving efficiency driven by the way they operationally process services is not considered a priority (beyond a budgetary metric). Before you say that isn’t our institution- consider that the most recently published 2022 Independent Banker Association’s CEO Survey. The top