The administrative process behind collecting interest, principal, and escrow payments can be hectic and counterproductive when it’s not handled properly. To make customers happy, the process of requesting, disbursing, and repaying a loan needs to be smooth and streamlined. The loan servicing team is responsible for collecting monthly payments, sending monthly statements, maintaining records of… Read more
Loan operations are an integral part of the revenue for a banking system. It’s imperative that organizations dedicate sufficient time to improve this aspect of the operation. By taking advantage of new technologies, fintech companies are helping improve lending and operational efficiency in the banking sector. Loans operations include all the processes involved between the… Read more
Employee performance review is an essential part of any organization. Companies conduct reviews to establish an open and transparent dialogue with the employees and instill a performance culture in the organization. Employee performance review is often a task that both employees and their managers take up as a duty, and not out of liking. It… Read more
Table of Contents: Introduction What Does a Continuous Performance Management System Mean? What are the Benefits of a Continuous Performance Management System? Introducing Continuous Performance Management System to Your Organization How do you Implement a Continuous Performance Management System? Continuous Performance Management System in a Nutshell 6 Top Performing Performance Management Tools Frequently Asked Questions… Read more
50 Examples of employee evaluation comments that boost performance – Download PDF Here It’s not surprising that performance evaluations are anxiety-inducing for almost every employee and manager. This anxiety can, understandably, lead to a drop in performance during the performance review period, often resulting in missed deadlines, reduced productivity, and a drop in employee wellbeing…. Read more
The demand for business banking services is on the rise in the U.S. Small and medium-sized businesses (SMBs) represent one-fifth of global banking revenues, generating around $850 billion of annual revenue for banks, and there are no signs of them slowing down. With domestic banks facing increasing competition from international banks and other institutions, their… Read more
According to Pablo Sanchez, the regional head of retail banking and wealth management at HSBC, the unsecured personal loan market in the U.S. is increasing by 20% each year. There are millions of consumers who need loans for a variety of reasons including expenses, home improvement, and debt consolidation. By the end of 2020, unsecured… Read more
Setting goals is an important practice in any organization. It’s an essential part of the performance management process and is used to achieve business objectives. It helps boost performance, for when you have something to aim for, it helps you prioritize and focus. A goal must answer the who, what, when, where, why, and how… Read more
In order for banks and financial institutions to improve their organizations as a whole, they need to focus on improving their transaction processing and support. Transaction processing is a type of computer processing that indicates the bank needs to immediately respond to a customer’s request. Each request is considered a transaction. A good example of… Read more
Key results are the actionable steps needed to achieve the results that you’d like to see completed in the process of reaching your objective. Key results should be able to be measured or tracked in order to determine progress made towards your objective. In Profit, you’ll find four ways to create key results: Step-by-Step GuideQuick… Read more
When you plan your objectives, it is imperative that you know what your management wants to achieve and align yourself to those goals. You can certainly have your individual OKRs, but some level of alignment or connection is indicative of an execution driven organization. The level of alignment is different for each company and Profit… Read more
You can make your key results dependent on the completion of other key results. For example, you may want to increase your number of clients but depend on the marketing team’s social media outreach in order to do so. Dependencies are visible on your key results page when you select “View” next to your key… Read more
