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For Senior Management, From Senior Management – June 2011 Edition

June 3, 2011

W. Michael Scott – President/CEO of FMSI

Lessons from Congress

Like the U.S. Congress, it is time to change the way we manage our cost of operations and spending. It is not our grandfather’s branch environment anymore. Mobile banking, teller cash recyclers, video teller systems, high end ATMs, remote deposit capture, etc. are here to stay.  Management will be under financial pressure to focus on utilizing new technologies to reduce labor expense in the branches, and there will be a paradigm shift in thinking of how to minimize our branch operating expenses — with labor being the largest component.  Much of this is explained in detail in FMSI’s 2011 Teller Line Study white paper, which was published June first — we hope you find it to be very informative.

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