Monthly FMSI Newsletter
Our monthly newsletter, called FMSI VantagePoint, is filled with in-depth case studies and thought leadership discussions about critical retail branch workforce optimization topics. This newsletter is a must read every month for c-level management and retail banking managers.
To sign-up enter your email address in the box under the FMSI VantagePoint logo on the lower left section of this webpage—and click submit.
February 9, 2017
FMSI, a Kronos company, and leading workforce optimization solution provider for banks and credit unions, announced today that West Suburban Bank was the 2016 winner of its annual Operational Excellence Award.
December 12, 2016
Most of us have seen the movies where robots are featured in customer service roles in futuristic cities. The thought of these fantastical interactions may only seem possible in the movies. However, the practical applications of real talking robots in the branch may be much closer than you think.
October 3, 2016
There are many different management styles, processes, and tools available to evaluate customer service; to set and track progress toward realistic, ambitious sales goals; and to train, coach, and monitor the performance of frontline staff. None of these practices seemed to be in place at Wells Fargo, where thousands of employees were fired for opening bogus accounts.
June 8, 2016
With branch visits decreasing, the importance of every interaction has never been greater. Many financial institutions have enormous potential to increase sales and service in the branch by capturing, measuring and managing their lobby sales and service interactions.
April 26, 2016
How does the state of the bookstore extend to the credit union branch? As it turns out, the in-person experience is alive and well, with both book consumers and financial consumers. And that tendency makes a compelling case for continuing to invest in the CU branch. Keep reading for some tips.
April 6, 2016
FMSI recently published the 2016 Retail Branch Lobby Study of approximately 780,000 lobby interactions performed in the 3rd quarter of 2015. In our analysis, we found that since our last Lobby Study in 2013 wait times increased from 5:08 to 7:06 and the number of visitors who left the branch unassisted (‘abandons’) increased by nearly 12%.
January 14, 2016
FMSI today released a new white paper titled Branch of the Future Not All that Different than Branch of Today. The white paper focuses on the current and future state of the branch in detail and evaluates several different branch technologies—predicting how they currently and can impact the future of branch banking.
January 8, 2016
FMSI, a leading workforce optimization solution provider for banks and credit unions, announced today that Credit Union of New Jersey (CUNJ) was the 2015 winner of its annual Operational Excellence Award.
December 10, 2015
See why the branch experience still matters and read an interesting article about how the branch might look in the Jetson's Orbit City.
December 5, 2015
With the help of FMSI's Omnix Performance Analytics, Bridgewater Savings Bank was able to employ a new methodology for utilizing their valuable transaction data and improved their teller productivity by 23%--resulting in a $0.23 drop in labor cost per transaction.
December 4, 2015
Mobile appointment scheduling tools are helping banks and credit unions address retail challenges. These automated solutions let account holders use nearly any internet-connected device to schedule branch appointments through their institution’s website or mobile app.
November 4, 2015
Cast aside outdated ideas about the branch, and use your real estate as a potent weapon against the nameless, faceless fintech startups that are trying to steal financial institutions' business.
October 6, 2015
Technology is changing the retail experience and consumers’ expectations in the process.
September 11, 2015
Branches can remain relevant, even in a digital era, if banks turn them into centers for higher value interaction with customers.
August 20, 2015
Online and mobile are growing, but the branch is still most effective when it comes to closing new loans and opening accounts. Yet, many branch managers rely on outdated processes, leaving them exposed to poor service and less than ideal sales experiences.
July 14, 2015
Read an article about mobile technology in the branch and check out a video highlighting what to expect from FMSI's new appointment scheduling software.
July 6, 2015
Although possible solutions are numerous and varied, one way to increase branch efficiency and foster customer service and loyalty (thereby maximizing branch profit) is to leverage mobile technology inside the branch. If banks can utilize mobile devices (especially tablets) in a way that it makes mobile-savvy account holders more comfortable, it's even better.
June 11, 2015
Check out an article about declining transaction trends in the branch and listen to a radio interview of FMSI CEO on Breaking Banks radio.
May 13, 2015
In this issue learn how community banks and credit unions can better leverage their advantages against mega banks, and watch a video about universal associates.
May 11, 2015
Are You Leveraging Your Agility and Personal Service Enough?
April 23, 2015
This issue includes a featured article about omni-channel banking in the branch and a video perspective from the CEO of a $1.2 billion financial institution.
April 8, 2015
An omni-channel banking strategy, when properly executed, not only can increase sales; it can also foster greater customer loyalty and satisfaction. When that strategy extends to the branch level, the results are even more impressive.
March 4, 2015
It's no secret that technology is constantly changing how consumers approach service and retail related activities in their everyday life.
February 19, 2015
The $535 million East Texas Professional Credit Union has made significant gains in both their account holder branch service experience and employee performance reporting capabilities with the help of FMSI's Omnix Lobby Tracker®.
February 3, 2015
FMSI, a leading workforce optimization solution provider for banks and credit unions, announced today that Fort Knox Federal Credit Union was the 2014 winner of its Annual Operational Excellence Award.
January 30, 2015
When given the right tools, held accountable for excellence and rewarded for that performance you can cultivate a high performing front-line in the branch.
January 6, 2015
The branch is not going away. A fact well observed through the creative ways in which it has resurrected itself and continues to evolve.
December 10, 2014
Learn about how mobile technology can benefit the branch experience and watch a video about properly handling staff downtime.
December 8, 2014
How we respond to failures and bounce back from our mistakes can make or break our careers.
December 2, 2014
In their eagerness to sign up customers for mobile banking, financial institutions should not overlook the capabilities of mobile technology in the branch.
October 30, 2014
Read an article about making the most of idle time in the branch, and another article focusing on the perception of overstaffed branches.
October 29, 2014
Account holder abandons in the lobby wait area are going to happen. It would be unrealistic to think otherwise. However, if left alone tens of thousands of dollars could be draining out of the bottom-line, annually. Limiting the number of times people leave your branch unassisted by following some of the tips presented in this article can pay tremendous dividends for your institution.
October 28, 2014
A universal associate model is more complex to implement and manage than traditional staffing models. While universal associates can play an important role in boosting branch profitability, managers should be judicious in deciding where to utilize them.
October 22, 2014
To solve lengthy check-in times, an increasing number of banks and credit unions are using self-check-in kiosks combined with sophisticated tracking software, like FMSI's Omnix Lobby Tracker™ (OLT). These solutions can improve the service experience, and help reduce stress for both receptionist and lobby service employees.
October 2, 2014
In response to the industry-wide year-over-year decline in branch transaction volumes, the $ 250 million Ontario-based Motor City Credit Union (MCCCU) initiated a more sophisticated staffing approach.
September 3, 2014
Despite headlines about cybercriminals stealing money across continents, statistics indicate that old-school, in-branch (employee or visitor) fraud remains a problem for many banks.
August 12, 2014
Featured in this issue are articles around both cross-selling in the branch and tackling the universal associates model.
August 5, 2014
Cross-selling can be a crucial revenue-boosting tool when properly implemented. Financial Institutions that devise a well-defined strategy based upon proven techniques have the best chance of reaching their cross-selling goals.
August 4, 2014
The idea of having universal employees has been around for a while, but it is recently gaining more attention. With increasing adoption of mobile banking and continued reduction of transaction activity, the need to explore a universal environment has become much more urgent.
August 1, 2014
Bristol County Savings Bank has adopted the right strategy, "slow and steady wins the race." With ongoing management discussions coupled with elaborate coaching and training, they have been able to consistently achieve a productivity average that is more than 10% greater than their peer group (Monthly FMSI Peer-to-Peer Ranking Report).
July 7, 2014
Effective management, paired with employee training, accountability and scheduling of tasks within defined idle time, can help FIs and their staff put idle time to better use.
May 30, 2014
Draconian reductions in branch networks are not necessary for financial institutions that shift to smaller, more efficient platforms for meeting account holder needs.
May 27, 2014
Learn about FMSI's new universal employee component to its popular branch staff scheduling software. Also, read about how universal asssociate models can change branch banking.
April 10, 2014
See how one financial institution is getting "more" out of their branch staff. Also, read an interesting article comparing baseball players and branch staff.
April 7, 2014
CUNJ significantly reduced their labor cost per transaction from $1.06 to $0.88 by accurately scheduling the right number of employees during the right times.
April 7, 2014
Using work settings that allow "wiggle room" gives BI Vu the ability to create optimal schedules for your branch.
March 11, 2014
A new case study and a client video testimonial exemplify how FMSI helps financial institutions be more successful. Also, check out an interesting article about FMSI benchmarking champions.
March 4, 2014
The $2.6 billion FirstOntario Credit Union (FirstOntario) has made significant gains in controlling their workforce costs with the help of FMSI's staff productivity reporting and branch scheduler.
February 27, 2014
Could it be that FI's using both LTS and TMS are better positioned to score higher marks in productivity compared to FI's using only TMS?
February 18, 2014
See who won the 2013 FMSI Ops Excellence Award, and read a great article about tips on achieving a great ROI.
February 7, 2014
Return on investment is something most consider before every purchasing decision is made, whether at home, work, or play. Financial institutions are no exception- especially with the rapidly evolving branch banking model.
January 30, 2014
Learn how a financial institution funded additional account holder benefits through their labor cost savings, and watch an interview with an FMSI client to learn more about effective scheduling in the branch.
January 9, 2014
Hiring the right part-time tellers is one of the more challenging components of managing a branch. The people you hire have a huge impact on client service, sales, productivity, and even overall team morale.
January 9, 2014
Every wardrobe needs a splash of color--oftentimes it's easy to buy a colorful article of clothing, but the challenge certainly comes, in many cases, with making the decision to wear the article of color!
January 6, 2014
SeaComm Federal Credit Union (SeaComm) has minimized their labor expense with the help of FMSI's staff scheduler and reporting solution.
December 3, 2013
With net interest margins being squeezed tighter and non-interest income becoming more restricted every day, successful banks and credit unions are continuously looking to improve their operational efficiency as a vital key to financial success in 2014.
November 7, 2013
By automatically aligning staff to member transaction volume throughout the week, FMSI has helped Marine FCU save a considerable amount of time and money scheduling their branches.
November 5, 2013
The exact impact of alternative banking channels on branch transaction volume is difficult to measure and varies greatly when comparing financial institutions (FIs).
October 4, 2013
The challenges of managing frequently-changing employee availability and last-minute schedule requests, render it next-to impossible for workforce administrators to minimize staff hours while simultaneously providing excellent service to customers or members, without a float pool.
September 6, 2013
If you consider what differentiates you from your competition in the eyes of the younger generations, would you say quality of service is the difference? Selecting the right technologies to support quality service interactions is extremely important in achieving this desired distinction from your competition.
August 12, 2013
With Financial Institutions (FIs) everywhere looking to invest in additional technologies that will drive transactions out of the branch, and subsequently further reduce long term branch operating expenses, staff idle time will undoubtedly grow--resulting in an even more underutilized staff resource. How can management better handle their increasing staff idle time?
August 2, 2013
The $2.8 billion Tennessee-based Eastman Credit Union (Eastman) has significantly improved their member service at their 21 branches, with the help of FMSI's Omnix Lobby Tracker®.
July 31, 2013
How do your Branch Manager's create schedules for their team? Every week or month, are they getting out their tools of the trade: pencil, a calendar, the knowledge of their staff's preferences somewhere in their brains, and a big eraser? That's how most of our clients schedule prior to using the FMSI scheduling tool.
June 27, 2013
Teller idle time has a quantifiable excess labor cost associated with it. When an organization makes a decision to utilize a workforce management scheduling tool to better handle teller idle time, they can take this excess labor cost and improve sales, service and productivity.
June 5, 2013
The migration to universal tellers can be more successful when institutions utilize sophisticated scheduling and reporting methods to better meet customer need on the teller line, which results in improved service and reduced costs.
June 4, 2013
Learn the steps and precautions to help prevent any undesirable outcomes during a merger. An article written by one of FMSI's vendor partners, KES Group LLC.
June 4, 2013
A Virginia-based bank has better aligned their branch staff to customer traffic patterns with the help of FMSI's reporting and scheduling solution. With new channels changing how people do their banking over the last few years, the $598 million Virginia-based bank noticed its customers visiting their branches at different times.
May 6, 2013
While reducing excess staff, through attrition, has helped them save $156,000 in annualized labor costs, a Kansas-based credit union also has been able to maximize their teller resources, especially at their lower volume branches--by identifying lull periods in transaction activity, and then assigning specific sales, service and training tasks during these times.
April 19, 2013
With minimum staffing requirements, like duel control, forcing branches to schedule a certain number of FTEs in order to open their doors for business, tellers often are scheduled to work when the account holder traffic demand is not there. The result is an environment where tellers are frequently waiting for work, causing morale and service issues alike.
March 26, 2013
As alternative delivery channels continue to evolve, the impact that these options have on your account holders and branch traffic increases as well.
March 11, 2013
Starting on January 1st, 2015 President Barack Obama's Affordable Care Act, also known as Obamacare, will have a considerable impact on how most financial institutions (FIs) staff their branches.
February 26, 2013
Learn why creating and retaining Loyal Customers must be a top priority in your organization. An article written by one of FMSI's vendor partners, KES Group LLC
February 1, 2013
Service is often touted as the key differentiating factor for many businesses. Financial institutions are no exception. New technologies and evolving service strategies challenge management teams on how to define and implement good service.
November 1, 2012
How much of an impact have new technologies had on your branch traffic, and more importantly, how much is it costing you in excess branch labor costs?
October 2, 2012
October is a great month to talk about change. The weather is changing as the fall season rolls in, the leaves change to let us know winter is around the corner, and during Halloween kids change into super heroes, goblins and princesses. What are you changing?
August 29, 2012
FMSI's Teller Management SystemTM was founded on the following four management principals, allowing our clients to create the optimal branch environment in terms of performance and culture: Goals, Accountability, Recognition, and reward.
July 30, 2012
In financial institutions, a common way to keep the score is through utilizing scorecards. After all, the old adage "what gets measured, gets done," is a critical component to any successful branch performance.
June 1, 2012
FMSI's The Teller Management System™ (TMS) and The Lobby Tracking System™ (LTS) adhere to a successful method of goal achievement, called SMART. For those of you not familiar with SMART, the acronym stands for: Specific, Measureable, Achievable, Realistic, Timely
June 1, 2012
It is critical that financial institutions refine their products and processes, align organizational structure, hire, coach and grow talent, while making wise investment choices in technology. These focal points will drive and create a superior customer and employee experience, creating measurable results for any organization.
May 1, 2012
An In-depth Look at Branch Level Performance
March 2, 2012
Many organizations have shared with us that they have tried the part-time employee route in the past and they have yielded less than desirable results. They often ask us how other FIs have such great success with their part-time teller programs.
February 1, 2012
How Can You Help Improve Your Financial Institution's Efficiency Ratio?
January 24, 2012
This article discusses overall branch service metrics and also looks to identify service improvement solutions for management.
October 4, 2011
Upon implementing FMSI's Lobby Tracking System™ (LTS), Veridian has seen improved employee performances, a decrease in member wait-times, and an improved lobby service experience.
December 1, 2010
With 13 locations, Arkansas Federal Credit Union (AFCU) recently implemented an innovative queue management solution with the goal of improving their time management practices in their branch operations.
August 9, 2010
A conversation about an innovative branch banking environment with Sandra Dixon, EVP/Group Executive - Operations, Extraco Banks
July 15, 2010
It happens to all financial institutions. A teller submits their two-week notice and managers start to worry about an indefinite service void in their teller line. What do you do?