1 minute read
Jan 22, 2020
Written by: Shawn Sweeney
As we are wont to do at the turn of each year, January is a time when we humans attempt to prognosticate the trends or major events to come over the next 365 days. And with this year being the start of a new decade, we’re feeling that tendency ten-fold. So, when Forbes Finance Council asked me about what changes I expect to see in the banking industry over the next 5 years, I jumped at the opportunity.
Customer experience, emerging of technology from FinTechs and within big banks, blockchain and greater decentralization of banking and lending were just a few of the topics hit on by contributors. Given Spinnaker’s experience on the data and analytics front, my insight leaned into the growing divide between mid-market and big banks, driven primarily by big bank’s growing competitive advantage in leverage customer and operational data. In an attempt to keep up, I anticipate a greater frequency of mid-market bank mergers, so that smaller banks can better leverage assets and talent. With that in mind, don’t be surprised if in the next 5 years, those smaller banks get added to the endangered species list.
Curious what other council members are forecasting over the next 5 years? Check out the full article here.
For many small and early-stage businesses, serving customers and running day-to-day operations can be enough to overwhelm the day. But it’s critical that these organizations carve out time to tend to their financial health daily, or at the bare minimum several times a week. With so many different metrics to track, it’s important to identify those that give you a line of sight into how your business is performing, as well as those that help you pinpoint issues brewing below the surface.
Spinnaker News, Business Analytics & Data Management 1 minute read
Steady and reliable cash flow is essential to a company’s daily operations. Knowing when to expect revenue gives owners confidence in paying their own expenses, but understanding cash flow cycles is just as important to business growth – and having a buffer in case of a crisis. Good cash flow analysis can confirm that there’s money to keep the lights on, but deeper analysis can uncover ways to best capture cash from every revenue stream.
Customer Channels & Operations Management, Business Analytics & Data Management, Risk Management & Regulatory Compliance 1 minute read
Earlier this year, I was chatting with a prospective client whose professional experience looked much like mine, and many of our consultants, before coming to Spinnaker: a senior VP from a fortune 500 financial institution who’s hired countless consultants to solve complex problems.
Customer Channels & Operations Management, Business Analytics & Data Management, Risk Management & Regulatory Compliance 3 minute read
Like how we think? Subscribe to have our articles delivered direct to your inbox each month.
Headquarters: 8000 Franklin Farms Drive, Suite 100, Richmond, VA 23229
©2021 Spinnaker Consulting Group. All rights reserved.