The Collaborative

The 2012 Collaborative Focus

Thriving by 2015: Retailing Profitable Solutions

The problem? Banks and credit unions across the country are faced with the ongoing realization that in order to thrive, they must conduct business in a very different way than they do today. The current environment of the industry is affecting their ability to make money the way they used to, increased workloads are constraining innovation and customer perceptions are hampering new sources of income.

In order to thrive, the earnings equation has to change – banks and credit unions have to generate profitability through the solutions they offer. They must become much better retailers of these solutions. And they must deliver results that consumers value and will pay for. So what should financial institutions do – now – to ensure profitability by 2015?

The 2012 Collaborative will build on previous research and focus intently on the consumer mindset and profitable solutions. They'll seek to answer questions like "What does the consumer want help with? What kinds of solutions will provide both value to the consumer - and profitability to the financial institution?" The Collaborative will conduct in-depth research with key audiences, identify new jobs to get done for customers, develop a variety of solutions, test them with consumers and explore opportunities for successful retailing. What they discover will create the frameworks and tactics that banks and credit unions need in order to thrive in the constantly evolving climate of banking.

What is a Collaborative?

It's two or more people or groups working toward a common goal or purpose. The Deluxe Collaborative brings together financial industry executives to explore an industry issue, conduct research, and share learnings with the industry at large. Collaborating with peers offers a great opportunity to facilitate change within organizations — you can discover possibilities, open doors, extend capacity, and realize success.

History of the Deluxe Collaborative

Over the last eight years, Deluxe sponsored five distinct Deluxe Collaboratives made up of financial services executives with the vision to explore topic critical to their business. These executives conducted extensive ethnographic research on their customers. With their findings in hand, they designed new customer experiences and solutions that would lead to greater customer loyalty and ultimately, earnings. The Collaborative members vetted the solutions with customers and their own organizations and then reported the results and key learnings to industry peers at the Deluxe Knowledge Expo.