Banks & Credit Unions

Modernize Your Strategy
Navigate Change Successfully

With broad experience in business and IT transformation, mergers and acquisitions, data analytics and business intelligence solutions, and customer experience, we can help you respond to unprecedented change.

Decrease Customer Effort to Grow Revenue
We have found that rather than simply trying to “wow” customers, banks and credit unions can gain more by making customer interactions as “effortless” as possible across channels.

As banks and credit unions navigate extraordinary change, each faces a fundamental question: Am I behind the market? And if so, how can I build a stronger, more modern organization that capitalizes on change and successfully competes with a broader array of competitors?

As customer expectations grow exponentially, pervasive mobility becomes the new normal and the regulatory environment continues to shift, institutions of all sizes must examine their customer, product and operations strategies and implementation.

With broad experience across a spectrum of institutions and markets—from the largest global banks to local community and regional institutions—we understand your needs and challenges. We can help you modernize your customer strategy, refine your products and transform the effectiveness and efficiency of your operating model.

Managing the Complexities of M&A
FOCUS AREAS
Business & IT Transformation
New bank channels, services, and capabilities are critical to growth and success—but reaping the benefits can require transformation at all levels of an organization. How does your bank need to evolve – strategically, operationally and technologically - to achieve future business goals?
Business Intelligence & Data Analytics
In a world without business intelligence, banks invest tremendous effort to compile and distribute data. What could your bank accomplish if it consistently could deliver the right information to the right people at the right time and in the right format?
Customer Experience
In highly regulated, commoditized industries like banking, the best way to differentiate is to provide a consistent, effortless customer experience. Does your bank have a truly differentiated customer experience? And is it translating that into better performance?
Mergers & Acquisitions
Financial institution mergers and acquisitions are complex and require adequate time, effort, and resources to produce the expected benefits. Does your organization have the experience and expertise necessary to deliver?
LATEST INSIGHTS
Date : May 11, 2015
Mid-market firms are driving an increase in dealmaking activity, causing the M&A market to return to the highs last seen before the 2007-08 financial crisis, according to our new study, "Harnessing Potential: mid-market integration and managing change." This return to the pre-crisis highs of dealmaking, particularly in North America, is a reflection of a strengthening economy and confidence in mid-market companies to pursue growth. 
2015 Customer Effort Index in Banks & Credit Unions Benchmarking Results
Date : April 13, 2015

We have found that rather than simply trying to “wow” customers/members, banks and credit unions can gain more by making customer interactions as “effortless” as possible across channels. Consistent ease across all channels is what ultimately creates differentiated value and what customers will most remember. The West Monroe Partners’ 2015 Customer Effort Index in Banking Study looked at the level of effort required to do business with more than 25 national and regional banks and credit unions. Through this research, we not only identified “customer effort leaders” and the practices that those banks and credit unions employ to reduce customer effort; we also established a correlation between low customer effort and higher revenue growth.

Please complete the form below to download this white paper.

A West Monroe Partners white paper
Date : February 25, 2015

A West Monroe Partners white paper by Patricia Tripar and Matt Downey.

A rising interest-rate environment is generally positive news for commercial banks, as lending yields improve when rates rise—but rate fluctuations can limit the potential upside. Indeed, interest-rate risk is one of many market dynamics driving banks to diversify revenue—combining sources of interest income with robust, consistent, predictable non-interest income.