Thank you for taking a few minutes to get to know a little more about Right Site Systems, our approach to working with our clients, and why we think you might want to work with us.
The Genesis of Right Site Systems
Right Site Systems was founded in 2009 – arguably a time most would consider one of the worst times in history to start a business designed to help financial institutions make branch location decisions. But we saw things differently.
The financial industry had just experienced the most significant meltdown in modern history, interest rates had dropped to almost nothing, and new government regulations were further strangling the industry with a significant increase in compliance costs. So how could this be the right time to start this kind of business?
The answer is that these major changes in the banking industry meant there would be a need for new methods and ways of thinking about banking. If existing institutions were going to be able to survive, grow, and for some, even prosper changes needed to be made. This was an especially difficult situation for community and smaller regional banks, as they lacked both the human and financial resources of the major banks to absorb and adapt to these changes.
Our Approach to Working with You. . .
BEGINS with developing a clear understanding of your institution – Your history, strengths, and vision for the future. What you know you excel in doing and what you’d like to improve.
With that information, we complete a comprehensive assessment of how well your existing branches & their locations align with your current strategic vision. We identify potential branch consolidation and closure candidates, as well as areas in your markets where you may wish to consider adding new branches.
We also work with you to understand the likely financial and operational implications of these proposed or alternative changes. This way you can establish priorities and set realistic execution timelines that fit your desired pace and operational capacity.
Why You Might Want to Consider Using Our Services
FOR MOST CREDIT UNIONS AND COMMUNITY & SMALLER REGIONAL BANKS – We often play the role of the Branch Planning Staff. While larger banks can cost justify a full-time staff to guide and manage branch location issues, the vast majority of banks simply don’t have this luxury. The need for people with our skills and knowledge do not warrant a permanent overhead commitment for these institutions. So we become a part-time staff for them, providing reliable, quality solutions to branch location issues when they come up, but not a burden to overhead costs when the issues are resolved.
FOR LARGER REGIONAL AND MAJOR BANKS – Our role is typically different. As most already have a dedicated in-house staff for dealing with branch location issues, our role is two-fold. In some cases we provide overflow assistance by helping out in emergency or rush situations caused by short term unexpected changes (think M&A assimilation). In other cases, we bring an objective third party viewpoint in to help work though tactic development for major strategic changes being introduced by top management.
If you have any questions or wish to discuss a specific situation, feel free to leave a message below and I will be more than happy to respond.
All the best,