The Silver Bullet

I have been hearing a lot about it lately; the highly sought-after, and non-existent silver bullet. Recently, it seems to be on the minds of many management teams looking for the quick-fix to the complex and pressing issues facing today’s financial institutions.

Whether it’s marketing to a younger demographic segment, growing deposits or differentiating your institution from the competition, there is no one size fits all solution. In fact, addressing these issues demands careful evaluation of factors that are unique to your institution. Your situation, as it relates to your position, your market, your targets and your competition, is unique – and you have to consider these factors before letting someone else’s successful initiatives drive your institution’s growth strategy.

We would all like an easy button that actually works like the one in the Staples television commercials; but, that would be too easy. The pressing issues facing today’s financial institutions are just as complex and involved as their solutions need to be; there is no silver bullet.