Hoosier Banker 'SRXVEGX Negotiations And so much more 463(9'87 7)6:-')7 463*-0) 6SH 0EWPI] Executive Vice President - Operations & Member Services Indiana Bankers Association rlasley@indiana.bank @rodlasley The Indiana Bankers Association is starting 2021 by adding a new Preferred Service Provider to our offerings. Profit Resources Inc. is already familiar to many of you, having been involved with the IBA for more than 15 years and in operation since 1990. Its first client, in fact, was an Indiana bank! A family-owned business, PRI was founded by Tim Holt and is now owned by his children, Mike Holt and Mikelle Holt Brady. As I travel the state and talk with IBA members, a regular topic of conversation is contract negotiation, primarily the core contract. Contracts can be voluminous and confusing, and they often overlap ancillary products, making them difficult to understand – not to mention negotiate. After reviewing various providers in this space, the Board of Directors of the IBA Service Corporation selected Profit Resources Inc. as an excellent solution for banks to consider when beginning down the path of contract negotiation, process improvement, revenue enhancement or expense reduction. PRI provides these offerings through in-depth analysis of your current systems and processes. Its team meets with your associates to learn how they would like to accomplish tasks and to discuss what works well, what does not, and what could be streamlined with your current providers. The PRI team will do more than negotiate your contract. Based on peer comparisons, it also will review how well your current technology will align with and support your future product offerings, loan mix, customer service and earnings plan. PRI professionals will go to market and work with you, on your behalf, to find the best solution to meet your future needs. PRI has no vendor relationships, meaning it is totally independent and working solely for you, the bank. A key area for revenue enhancement comes by way of debit card profitability, including enhancing interchange income and processing fee reduction. Mike Holt has vast experience in this area of debit card profitability. While finding many opportunities for improvement, he will explain in depth the interchange process, and how best to maximize your debit card portfolio. PRI will perform a total card analysis, review the card brand agreement and PIN network arrangement, and assist with any agreement negotiation that will strengthen the bank’s offering and profitability. Process improvement is an integral part of what PRI offers its clients. As you grow, often your processes continue to be “stuck,” with your bank handling procedures the same way as when you were $200 million, $300 million or $500 million smaller in total assets. Profit Resources will gather and analyze data from your institution. It will conduct interviews with the NEW PREFERRED SERVICE PROVIDER Continued on next page.
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