SRM Releases Report on Operational Agility for Banks & Credit Unions in 2024

MEMPHIS, Tenn.--(BUSINESS WIRE)--SRM (Strategic Resource Management), an independent advisory firm serving financial institutions across North America and Europe, today released its new report titled "Focus on Operational Agility to Achieve Success in 2024."

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2024 welcomes various unknowns for banks and credit unions, including legislative and regulatory intervention, unclear economic trajectories and pressures, and interest rate uncertainties. In addition, the pace of growth is predicted to be slow. These elements have made it challenging for management teams and boards to determine budgets and strategic plans for the year with confidence.

In their latest report, SRM's consultants and subject matter experts discuss six additional areas of consideration that could provide the extra edge for financial institutions to meet their goals and remain competitive in 2024. The report explores critical topics, including AI strategy and integration, new debit rules, monitoring expenses, and assessing fintech strategies and adoption plans.

"Financial institutions (FIs) are focused on planning, budgeting, and ensuring priorities are in place for a successful future," noted Cody Harrell, Managing Director for Community Financial Institutions at SRM and featured expert in the new report. "This new year represents a host of unknowns for banks and credit unions. Our team assembled this report to give FI executives a few additional ideas related to budgeting and prioritization for 2024. We believe these six considerations can lead to incremental savings, internal efficiencies, and increased market share."

About SRM

SRM (Strategic Resource Management) has helped 1,000+ financial institutions add more than $5 billion of value to their bottom line in areas such as payments, digital transformation, core processing, digital assets, and overall operating efficiency. SRM has lowered costs, created revenue opportunities, increased productivity, and provided a competitive edge for clients in an environment of constant and accelerating change. Visit srmcorp.com for more information and follow us on LinkedIn and X (formerly Twitter) for timely and relevant insights.