Benchmark Experts Discuss the Opportunities Ahead
With 2024 in the rearview mirror, what can you expect in 2025? Growth. Last year, it might have been prudent to take a wait and see approach due to high interest rates and the uncertainty of the presidential election. Twenty twenty-five, however, is the year to take decisive action to drive growth and safeguard financial stability as you face heightened competition for deposits. In fact, 58% of bank leaders expect asset growth of 5% or more.
Agile Resources After a Merger or Acquisition Will Ensure Success
Edie Davis, Account Executive
In 2024, we saw several bank mergers and we anticipate there will be a significant increase in M&A activity this year.
These deals put a lot of pressure on internal teams, who may not have the speed and agility to implement the most cost-effective approaches to combining and optimizing operations. When these projects are properly orchestrated, financial institutions save money and time and gain better control of the technology involved.
Looking ahead to 2025, we anticipate more banks and credit unions will need additional resources to onboard their newly acquired customers or branches. These projects are best handled by partners like Benchmark, with proven practices and processes, including nationwide resources and a logistics infrastructure to manage device fulfillment and onsite technology installations
Digital Transformation Will Define 2025
Robert Haran, Senior Account Executive
In 2025, growth from the treasury management sector will be the salient focus for commercial FIs as SMEs benefit from the favorable economic conditions of the new administration and the anticipated lower interest rates. Most treasury departments are resourced strained and will need to work with a managed services provider, like Benchmark, to deliver the innovative solutions their commercial clients need.
Banks Will Return to Growth Mode
Aaron Hodge, Sales Manager
M&A activity seems to have picked up toward the latter half of 2024 and in my opinion will be strong in 2025, with medium to large banks being sold or merging to form larger banks.
A Hypercompetitive Environment Will Shift the Focus to Technology Standardization and Revenue Generation
Stephanie Johnson, Account Executive
Customer Experience Will Matter More Than Ever
Nikki Picklesimer, Senior Account Executive
I am looking forward to the opportunities 2025 will bring! With inflation and interest rates easing over the last 6 months, I think we will see more activity in mergers and acquisitions.
Treasury departments continue to struggle with shortages of technical talent. As a result, Treasury Management leaders are increasingly turning to managed services providers for fulfillment, onboarding, conversions and help desk support.
By offloading technical support to a trusted partner, treasury departments can deploy their internal resources to strengthen client relationships, cross-selling and up-selling, and developing innovative products and services.
At Benchmark, we specialize in delivering the best client experiences on behalf of the banks and credit unions we work with. I am excited to partner with them in 2025 to make sure their clients get top notch service!