Case Study
Mid America Bank Gets Strategic Operations, Digital Plans to Guide Growth
CLA created strategic plans for Mid America Bank to guide its digital customer service and business growth goals.
Organization
Mid America Bank, a growing Missouri-based bank with 11 locations.
Need
Guidance on digital customer services, data utilization tools, and technology for operational efficiencies.
Outcome
Strategic operations and digital plans to help guide future growth.
Understanding the situation
Hitting $1 billion in assets is a major milestone for a bank — and it’s also a good time to work on strategy for continued growth.
Mid America Bank was in that position. As the bank approached $1 billion in assets, it was seeking growth and efficiency strategies, along with ways to better serve customers.
Mid America Bank was a newer CLA client, having hired the firm to help prepare it for the Federal Deposit Insurance Corporation Improvement Act (FDICIA) requirements that come with having $1 billion in assets. To better serve customers, the bank was looking to greatly improve its online and mobile services along with data utilization and technology tools but didn’t know where to start.
When bank President & CEO Steve Linton heard CLA talk about the many digital improvement options for banks at an industry conference, he knew his first step was to engage the firm for a custom assessment.
Create strategic, digital plans to enhance growth opportunities.
Exploring the challenge
Mid America Bank was on the cusp of signing a large contract to expand its digital services for customers, but leadership wasn’t sure what other tools could help increase impact. CLA suggested the bank undergo a comprehensive assessment, evaluating not just digital improvements but operations, strategic, and customer service improvements, as well.
Together, the teams explored:
- Organizational changes, including assessing processes and using data and technology to assist
- Process formalization, including enhancing vendor management, incident response, and business continuity plans
- Digital systems integration, including customer experience, employee experience, and data analytics opportunities, along with considering artificial intelligence and cybersecurity improvements
CLA conducted a comprehensive assessment of our operations, processes, and digital needs and provided tested, industry-specific recommendations. We’re now far better equipped to undergo our digital customer service and business growth plans.
Achieving results
Mid America Bank is now on the path to be much better prepared to undertake both its digital customer service and business growth plans. Hitting $1 billion in assets and entering new markets were major turning points for the bank’s future direction and now it has strategic operations and digital plans to support, guide, and measure its goals. Mid America Bank plans to continue to work with CLA on operations, data, and digital improvements.
