Logicpath Insights

When people think about inefficient communication within an organization, they automatically think about delays between emails, phone calls, etc., but what is the true cost of inefficient communication? Inefficient communication can have many detrimental effects on your financial institution’s overall efficiency that result in waste in the form of time and money. When communication is ineffective or erroneous, it leads to extra internal and external emails, phone calls, report pulling, and additional charges.

Refresh training is often forgotten about, but if your software is a big part of your day-to-day operational efficiencies in your branch, it is important to implement refresh training to avoid any potential pitfalls in miscommunication of features, capabilities, and even the purpose of the software.

Retail sweep programs help banks and credit unions recover their Federal Reserve balances due to reserve requirements, through reclassifying transaction accounts as savings accounts. This blog discusses the top features to look for in a retail sweep program.

A good inventory system is important to a business’ growth. A financial institution's inventory is the cash tied up in branch, ATM, vault and devices. Like any other business, not enough or too much inventory can be costly to the business and inhibit growth.

Payday loans are expensive, and often trap consumers in a vicious cycle of debt that is hard to break. Americans at the bottom of the financial ladder, have no option but to resort to these loans because banks and credit unions have not offered small short-term loans since the recession.

A FIs motivation to implement deposit reclassification depends on costs vs benefits. Implementing Deposit Reclassification makes sense at all times, but is even more important when interest rates are rising and expected to continue to rise, when deposits increase, or before mergers or acquisitions.

Today, there are a slew of FinTechs firms that are leveraging technology, the Internet, and smartphone apps to address inefficiencies of financial services.

New generations are demanding a wide range of mobile and web-enabled products and services in the banking sector. How do you prepare for branch transformation?

Most financial institutions “think” they manage cash efficiently. Cash is often managed up - to limits, not down - to usage-driven levels.

Have you ever wondered what tools and solutions are out there to help manage branch, ATM, device and vault cash?