TOPIC: Budgeting

How to build a better bank budget in 7 steps

As we start Q4, it's the right time to think about strategies for success! Let's start with the tough stuff: budgets.

Having a realistic, clear, and helpful budget is critical to having a successful business. Unfortunately, even among bankers, budgeting gets a bad rap. It seems like everyone from the Board and senior leadership to the marketing analysts run into issues with their budget. It is possible to resolve those issues and optimize your budget! Learn 7 best practices that will radically improve your bank or credit union's budgeting strategy here:

    Free September Webinar! Vendor Management Includes Vendor Selection: How to Shop for the Right Vendor

    You are invited to our September webinar discussing vendor selection. Register for free today! If you are not able to make it to the live event, the recording will be available for download afterwards.

    September typically kicks off the budget planning season for the coming year, and you and your colleagues may be asked to start the process to choose a new vendor. With the 5 P’s tenet of Proper Planning Prevents Poor Performance, we’ll share our best practices to map out the methodology necessary to select the right vendor – and for the right reasons. Some items covered will include:

    • Conducting a needs assessment for the vendor/program that coincides with the FI’s business and operational objectives
    • Identifying key stakeholders internally for consensus building prior to the onset of the project
    • Building a list of possible vendors
    • Writing an RFI, RFP and/or RFQ as well as interview/demo questions
    • Creating a vendor evaluation scorecard as well as SLAs
    • Deciphering vendor due diligence packages and drafting contractual language
    • Saying ‘no’ to the vendors not selected - with feedback
    • Rolling out a successful onboarding/implementation plan

    This webinar will be chock full of tips that will help you effectively deal with both potential as well as existing vendors with your outsourced technology platforms.

    Register Today!

      We have a new poll! Tell us about how you work with fintech providers.

      Person at a Company (USA)

      Hi all,

      Thank you to all who participated in our last survey! We'll be releasing the results shortly. We have a new poll up that will take 30 seconds (6 questions) regarding how your FI views and works with new and innovative fintech providers in the industry. Would love to get your input and we will share the results with anyone who participates once the survey is closed. Thanks!

      Take the survey here.

        What will banks do with their tax gift?

        Changes to executive compensation, deferred tax assets and liabilities, foreign earnings and loss of interest deductions are just a few of the ways the new tax laws could impact financial institutions. Check out PKM Tax Partner, Pat Tuley’s feature in Bank Director to hear more: