415.294.1110 | [email protected] | www.SFOconsultants.com | www.Optirate.com
Why We Do What We Do?
We believe Community Banks, Regional Banks and Credit Unions (cumulatively referred to as Community FIs or FIs) are better positioned to serve Retail and Small Business customers than larger banks and non-‐bank competitors. We believe that Community FIs can create strong customer loyalty, while in parallel growing revenues and profitability by delivering a more compelling value proposition.
We believe that Retail and Small Business customers – when presented with a compelling value proposition – from Community FIs will embrace the offering and the opportunity. We believe that Community FIs and Retail & Small Business customers want to engage in a meaningful banking relationship, yet self-‐imposed roadblocks – many from the Community FIs -‐ continue to impede the natural connection. What We Do?
SFO Consultants is a unique boutique focused on transformational consulting. We offer unvarnished truths supported by fact-‐based, data driven analysis and insights. We are unafraid to tell the truth, with the objective of enabling Community FIs gain visibility and direction to greater success. We focus on speed to action along with fact-‐based, data driven analysis that create the right Business Strategy for your FI, Key Performance Metrics that inform, and Operational Initiatives that deliver quantifiable value.
How We Do It?
We believe that the best decision making process is based on sound data, insightful analytics with fact-‐based debate about strategic options and implications to business model, customer types, capabilities, customer selection, and ability to compete. Our team has over 100 years of banking and consulting expertise, we have seen and worked through many business challenges, and know what it takes to create quantifiable results.
We work closely with a small team of decision makers to assess the opportunities and implications, and refine the Business Strategy until it meets the strategic, financial and operational expectations of the senior management team and the Board of Directors. Further, we partner with our clients to move beyond the Strategic Plan, with the definition and execution of tactical initiatives. We build the implementation roadmap so that the FI begins to recognize tangible and quantifiable value within weeks.
415.294.1110 | [email protected] | www.SFOconsultants.com | www.Optirate.com
Why Action Is Necessary The business of Retail and Small Business Banking has changed much in just the last five to ten years. Banks are under pressure to deliver services seemingly at no cost to the customers while facing incredible threats from virtually every direction including: • Regulatory Pressures impacting operating costs and ability to generate
revenue. • Changing Technology including internal and customer facing applications
resulting in myriad of options, few of which demonstrate real ROI but many of which have become “must have table stakes”.
• Unrelenting competitive threat from traditional competitors and non-‐banks, including large banks, Credit Unions, Smarty Pig, Prosper, Lending Club, Simple, Moven, PayPal, Square, Green Dot, Wal-‐Mart, and many others.
• Weak economy and a weak near-‐term outlook resulting in anemic revenue growth and sub hurdle-‐rate ROE.
Imitation Is The Sincerest Form of Flattery, but Will It Deliver For Your FI? Bank executives are under immense pressure to do something to improve revenue growth, to improve ROE and to find a way to satisfy shareholders who are clamoring for 2x – 3x P/B valuation levels not seen by Banks in a very long time. Technology vendors and industry pundits are never at a loss for new ideas that will “improve engagement” but almost all fail to connect the dots to revenue and profitability. PFM, P2P payments, unbanked, underbanked, mobile banking, financial literacy, Free Checking, Prepaid, Reward Checking, merchant funded rewards, wealth management, Treasury services, payroll services, and the list goes on. All of the above are valuable products, but not all of them are valuable for every Bank! About SFO Consultants SFO Consultants is a strategy and operational excellence advisory firm focused on helping Financial Services executives address their most pressing issues. We work collaboratively with our clients leveraging our experience and fact-‐based analysis to create strategies and tactical initiatives that result in near-‐term and long-‐term growth and profitability. Contact us for a Free Consultation at 415.294.1110 or [email protected] Key Staff Members
Serge Milman is the Principal Consultant of SFO Consultants. Serge is a recognized leader in the areas of strategy development, innovation, business profitability measurement & improvement, and operational performance improvement. Serge has served clients in numerous industries & sectors, including banks, credit unions, insurance companies, brokerages, credit card companies, payment processors, airline companies, manufacturers, universities, and technology companies during his more than 20 year career. He can be reached by phone at 415.294.1110 and via email at [email protected]
“Banks face unprecedented volume of challenges at ever escalating levels of complexity” “The days of 3/6/3 are well behind us; Bankers need to adapt by developing a comprehensive strategy and an implementation plan delivers on key objectives”
“Internet and mobile have removed many of the competitive advantages enjoyed by Community FIs in the past. The competitive landscape will continue to intensify, and customers will become increasingly demanding”