Topic Archives: Operational Efficiency

Is Your Collections Process Insane?

Topics: Credit Risk Management, Operational Efficiency
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Insanity, it’s often said, is trying the same thing over and over and expecting a different result. Nowhere is this axiom truer in financial services than in the collections process.

The Right Treatment at the Right Time

The goal in collections is to efficiently deal with … Continue reading →

Triage: From Battlefields to Banks

Topics: Operational Efficiency, Technology
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At Zoot, we frequently have discussions with financial institutions (FIs) on the virtues of automation. All of Zoot’s solutions are focused on making business processes as automated and data-driven as possible. However, the decision to automate a business process—like the process of originating a loan—is never … Continue reading →

Finding the Right Balance: The Pursuit of a Better Loan Origination System

Topics: Customer Acquisition and Retention, Customer Service, Operational Efficiency
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Bankers are trying to find the right balance for their business, but it can be difficult, especially when working with a legacy loan origination system (LOS). Many think they need to sacrifice efficiency to improve customer service. With a modern LOS they can have both—no sacrifices … Continue reading →

Attributes: The Cornerstone of Sound Credit Policy

Topics: Credit Risk Management, Operational Efficiency, Technology
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You’ve heard the term cornerstone before, right? The word comes from the concept of setting the first stone in the construction of a masonry foundation. It is the most important “brick” since it is the reference by which all other bricks will be set for the … Continue reading →

From Prussia with Love: Agility as a Competitive Advantage

Topics: Operational Efficiency, Technology, Trends
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In 1806, at the Battle of Jena-Auerstedt, the Prussian Army got crushed by Napoleon. Using carefully planned and flexible troop dispositions, Napoleon was able to run circles around the slower Prussians. As a result, the French were able to deal a critical blow to the Kingdom … Continue reading →

Want Loyalty? Start with the Customer

Topics: Customer Experience, Operational Efficiency
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My last blog post focused on creating a retail experience that drives customer loyalty beyond rewards. The bottom line is that knowing what is important to your customers and responding to their needs is better than surpasses simply offering a rewards card when it comes to … Continue reading →

A Healthier View of Bank Channels

Topics: Customer Experience, Operational Efficiency, Trends
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The debate over bank channels has reached an interesting place. Depending on whom you ask, branch banking is either a relic of a time gone by or an invaluable component of a successful retail banking strategy. The truth, as usual, is somewhere in between these extremes.… Continue reading →