36 JULY / AUGUST 2022 Rod Lasley 'LMIJ 3TIVEXMRK 3JƤGIV Indiana Bankers Association rlasley@indiana.bank @rodlasley Contract Negotiations PRODUCTS & SERVICES PROFILE With the everchanging landscape of banking, the Indiana Bankers Association’s designation of Profit Resources Inc. as a Preferred Service Provider is proving beneficial to Indiana banks as they prepare for future growth opportunities, work to create efficiencies in their processes and workflows, and seek cost savings. Many of you are already familiar with PRI, since it has been involved with the IBA for more than 15 years and in operation since 1990. Its first client, in fact, was an Indiana bank! PRI is a family-owned business, founded by Tim Holt and now owned by his children, Mike Holt and Mikelle Holt Brady. As I travel the state and talk with IBA members, a major topic of conversation is the ongoing cost of contract negotiations. Core contracts are voluminous and confusing, and they overlap with various ancillary products. The result is that they can be difficult to follow or understand, not to mention to try to negotiate on your own. PRI is an excellent solution to consider when beginning to move 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 discern what works well, what does not, and what could be streamlined with your current providers. 4VSƤX 6IWSYVGIW -RG MW E Preferred Service Provider of the Indiana Bankers Association. The PRI team will do more than simply negotiate your contract. Based on peer comparisons, it will also 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 then 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, so it is totally independent and working solely for you. A key area for revenue enhancement is 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 your bank’s offerings and profitability. Process improvement is an integral part of what PRI brings to 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 appropriate members of your team, come onsite and perform a deep dive into the areas being considered for improvement, such as loan origination and operations, branch operations, a new call center, deposit operations,
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