As customer expectations continue to evolve at an ever-increasing pace, financial institutions must transform their delivery channels and provide the services consumers demand – when and where they want them. For many, this will require a shift from a branch-centered institution to a digital and mobile-enabled organization in order to succeed. Combining the knowledge gained from our customer engagements with the proprietary financial models and peer benchmark data in our Performance Vault™, Cornerstone Advisors will ensure you have the right infrastructure and distribution mix to drive customer acquisition, retention, and profitability.
In order to accurately assess the impact of strategic decisions relative to channel investments, financial institutions must move away from the traditional P&L model. Cornerstone has developed the ROC, a proprietary financial model to provide a clear and objective view of the performance of individual delivery channels and calculate the true Return on Channel from both sales and retention.
To make significant and crucial investments in digital delivery channels, FI’s need a comprehensive plan for transforming their branch strategy and resource allocation. Cornerstone helps clients build an integrated strategy to overhaul the sales culture within the branch and measure the impact of branch openings, closings, and moves.
As call centers have evolved into multi-point customer contact centers and now play an increasingly vital role in the customer experience, it is critical that the underlying infrastructure, processes, and performance metrics are optimized.
Cornerstone Advisors provides clients an objective analysis to determine if it makes economic and strategic sense to move forward with an enhanced ATM or ITM implementation. If there is a clear business case to invest, we will employ our industry and vendor knowledge to create and manage the RFP and vendor selection process.
Cornerstone creates a comprehensive performance assessment and detailed plan focused on near and long-term improvements to be made on the road to digital maturity, future readiness and increased revenue.
The right technology lays the groundwork for an institution’s future ready, high performing digital capabilities. Leveraging our hands-on experience and proven approach, Cornerstone can establish key criteria for vendor RFPs and provide recommendations on the vendor evaluation and selection process.
To survive and grow in today’s mobile-first world, financial institutions must innovate and exploit their mobile capabilities to increase customer engagement and generate revenue. Cornerstone works with clients to build an integrated plan to identify and maximize revenue and customer opportunities within their mobile channel.
Opportunities range from the processes and systems that enable online account opening and loan origination to harness the marketing insights from data analytics to create relevant and timely offers and content that resonates with customers and drives them to take action.
Cornerstone Advisors has the insight and tools to help financial institutions move away from their branch-centric perspective and embrace a more holistic approach to delivery channel performance.
Banks that rely too heavily on physical channels for consumer and business customers risk attrition, lost revenue and increased expenses. Bankers need to look at new ways to adapt as customer expectations evolve.
65% of channel investment is still spent on brick and mortar branches. Bankers aren’t thinking of resource allocation effectively. Are banks investing too much in brick and mortar with the goal to grow new accounts and new business?