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How Not to Fail: A Simple Checklist to Make Merger & Acquisition Branch Conversions Easier

Posted by Emily Sweillam

April 21, 2016

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Merger_and_Acquisition_Checklist_Thumbnail.pngHow do pilots successfully fly airplanes? How do doctors perform complicated surgeries without making mistakes? How is it possible to build huge, massive skyscrapers, successfully?

Checklists. Beautiful, glorious checklists.

In today’s highly complicated world, all experts need them. Literally—written guides that walk through the key steps of any complex procedure. The proof in the Checklist Manifesto (a must read!) shows us, that without them mistakes of one kind or another are virtually inevitable—for doctors, pilots, anyone. For example, the Checklist Manifesto cites a study of a checklist used in John Hopkins Hospital ICU that prevented forty-three infections, eight deaths and saved two millions dollars in costs—in one year!

Put simply, it’s just too easy for an otherwise competent person to miss a step, forget to ask a key question or, in the stress and pressure of a moment, fail to plan properly for every eventuality.

Converting the branch after a merger or acquisition is no different. These highly complicated, highly stressful, short timeline projects have so many moving parts, it would be impossible to capture everything without a detailed checklist mapping out every last detail. Dates, times, personnel, teams, tasks, functions, roles, projects — everything needs to be remembered, acted on, and capably managed.

As a company that performs these types of projects frequently, our internal checklist is something of a manual/bible – the details are insane! 

And with experts predicting 2016 to be one of the biggest years for mergers seen in the last decade, we realized our financial executive expert friends (you!) could use a helpful M&A checklist to execute “no fail” branch conversion projects.

Just in case you needed another reason, remember a merger or acquisition doesn’t end when a transaction closes. Ensuring a clients’ first experience when they walk into a converting branch is everything. Gallup shows us 8% of customers leave a financial institution after being acquired, high above the typical 5% annual attrition rate.

So get your free Simple Guide to Merger & Acquisition Branch Conversions checklist right here.

Of course, if you want to chat about our demerchandising/remerchandising services, reach out here.

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Topics: Retail Banking, Branch Transformation, Branding, Retail Strategies, Digital Signage

    
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We help financial institutions break the mold and improve their branch profitability and experience. And we openly share our knowledge rather than tuck it away for some secret strategic advantagea reason many of our clients come to us. This blog is our opportunity to write, teach and speak about what we do, and what we see happening across the banking industry.

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