Summer is here!
Memorial Day has come and gone, and we eagerly enter July and mid-summer celebrations. Mid-summer also means mid-year. Half of 2023 has passed us as we prepare for the second half. Oftentimes, the second half of the year, or really the second half of anything, is a time for reflection. Whether for personal or business goals, the second half brings refreshed and renewed opportunities.
For financial institutions, there’s a lot to reflect on when planning for the remainder of 2023 and beyond. Meeting financial goals, maintaining and acquiring new accountholders, and staying competitive in the market are just a few.
Jack Henry™ recently published our fifth annual Strategic Priorities Benchmark Study, which evaluated the specific goals, innovation concerns, and future plans for the next two years of bank and credit union CEOs. This study is a treasure trove of information to help financial institutions of all sizes and demographics plan and prepare for their near- and long-term futures.
A few key takeaways from the study include:
Mapping strategic direction is critical to remaining relevant and capitalizing upon new opportunities as they emerge.
Consistent and continuous evaluation, in addition to understanding your peers’ plans and priorities, allows you to innovate faster, close strategic gaps, and capture market share. Shifting and reprioritizing your goals based on market or technological changes is also important.
As you savor the last half of summer, sip some sweet tea, and dangle your toes in the pool, we encourage you to reflect on the upcoming second half of 2023 with renewed anticipation.
Read our complete 2023 Strategic Priorities Benchmark Study here.
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