Sounds ambitious, right? Now, let’s place this ambition in the context of a community bank located north of Edmond, Oklahoma.
This bank found itself in a conundrum. How to benchmark performance against a custom set of competitors that truly mirrored its unique business model and aspirations? Here, ‘one-size-fits-all’ governmental peer groups simply didn’t cut it.
One call to Visbanking’s Bank Intelligence and Action System (BIAS) and the day was saved.
BIAS is not just a data collection tool; it’s a sherpa guiding banks through the labyrinth of strategic decision-making. Traditional banking stops at data collection, BIAS begins there.
In this case, Visbanking’s BIAS acted as a lens, enabling our ambitious community bank to identify nine analogous competitors across five states. This was not an arbitrary selection, but a pinpointed choice, grounded in financials, performance metrics, and data insights.
The result? The bank could finally compare apples to apples, replacing the ‘peanut butter’ spread benchmarking approach with a laser-focused strategy.
And the impact? Well, let’s just say that the journey towards 4X growth looks a lot less daunting now.
BIAS is more than a tool; it’s a paradigm shift in banking intelligence. It’s about efficiency, transparency, and future-ready decision-making.
Are you ready to replace your peanut butter spread strategy with a laser-focused one?
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