Let’s face it. The future will belong to those institutions that understand the new rules of the game and are the best at executing these rules. In fact, 90 percent of the problems that most banks are struggling with right now stem from the fact that they are simply playing the wrong game.
Their people are busy running a Mongolian goat rodeo of activity instead of understanding that mere activity is NOT a result. If you don’t have a crystal-clear strategic plan with critical drivers that will make it happen—you’re probably busy picking up those 87 percent of new customers that will be unprofitable in the months to come. So, how can you prevent this downward spiral that usually ends when you are taken out of the game altogether?