Paul Sumner Joins NewGround as Vice President of Consulting
November 2, 2006 (St. Louis, MO) — NewGround, a design/build and retail services firm serving the financial industry, recently hired Paul Sumner as Vice President of Consulting. Paul will be responsible for leading NewGround’s Consulting Department, providing clients with comprehensive market assessments, service delivery and growth planning strategies.
“We are excited to have Paul join the NewGround team,” said Charles Zaegel, Senior Vice President and CFO, NewGround. “Paul’s expertise will further expand NewGround’s industry leading, consulting knowledge and services. We always strive to provide our clients with the most advantageous and innovative thinking available to the industry.”
Prior to joining NewGround, Paul was a Product Marketing Manager for Charter Communications, where he led the development and implementation of market penetration strategies for Charter’s Residential High Speed Data product line. While at Charter, he was also responsible for direct oversight of a series of ongoing operational improvement and quality assurance initiatives.
Among his significant previous positions, Paul was a consulting manager for Ernst & Young, where he led project teams across a wide range of industries. Primarily focused on process redesign and post-merger integration, Paul leveraged his expertise to assist clients in proactively addressing their growth challenges, both from an operational and a marketing perspective.
Paul holds a Bachelor of Arts in Political Science from Boston College, a Master of Business Administration from the Olin School of Management at Washington University, and a Juris Doctorate from the Washington University School of Law and is a member of the Bar Association of Missouri.
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BAI Inks Strategic Alliance with NewGround to Add New High-Tech Distribution Channel for Training
(Chicago, IL) — BAI, the leading provider of education and training solutions to the financial services industry, announced an agreement with NewGround that will enable its top training courses to be delivered to banking organizations via on-demand technology.
“Staff development in the branch is critical to the success of financial organizations, but delivering it can be challenging,” said Deborah L. Bianucci, President and CEO of BAI. “In partnering with NewGround, we can offer yet another option to our customers to access our training when and where they want it. Its flexibility is a tremendous advantage for training supervisors, who can now customize which modules and courses are needed for any particular location.”
NewGround uses digital signage systems to deliver targeted marketing messages to screens installed at more than 1,000 branches and locations nationwide. The Training Channel is an on demand feature available to system subscribers. BAI’s most-requested training courses will be offered as part of a year-long subscription to customers of the Training Channel service. Banking executives can coordinate training at multiple branches with just a phone call to NewGround. The requested courses are then scheduled for viewing by local branch employees at the given location(s).
“Digital signage systems have been a powerful tool for distributing effective marketing messages to branch networks. Adding the Training Channel to these systems gives banks the opportunity to leverage their investment in display screens for staff development,” says Jim Kueneke, Senior Vice President, NewGround.
BAI training courses are developed by industry experts and are updated as regulations change for up-to-the-minute accuracy and relevance. More than 19 state banking associations endorse BAI training courses, and many courses qualify for Continuing Education Credits. BAI also provides Credit Union training courses. All courses are AICC/SCORM compliant.
BAI courses now available through NewGround’s Training Channel cover a range of industry-specific topics, including:
- Compliance and Regulations
- Security and Fraud
- Frontline/Teller
- Lending: Consumer, Real Estate and Business
- Sales Skills
The service is effective immediately.
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BAI is the financial services industry’s leading professional organization focused on enhancing employee and organizational performance. Through ground-breaking research and an award-winning magazine, Banking Strategies, BAI provides the latest insights on complex, strategic issues in financial services. Through seminars, graduate schools and conferences – including the industry’s premier event, BAI Retail Delivery Conference & Expo – BAI reaches thousands of financial services professionals each year to deliver content designed around critical business needs and to facilitate vital connections between financial services professionals, industry experts and solutions providers. Focusing on business issues and performance drivers, BAI applies its extensive line of training, metrics and employee assessments to help clients leverage their most important asset – their employees.
NewGround Launches Branch Assessment Model
WayPoint Assessment Tool Proves Great Minds Don’t Always Think Alike
NewGround, a design/build and retail services firm serving the financial industry, has launched a diagnostic assessment tool, called WayPoint, that determines the alignment of senior management teams as it relates to an organization’s retail service delivery.
Sponsored by the BAI, SAP, Accenture, ARGO, and Unisys, the assessment tool evaluates an organization’s brand, place, and culture and then graphically displays the type of retail delivery strategy currently being deployed by the financial institution as well as the alignment of management’s individual perceptions.
“Businesses need a unified management team focused on a common vision, working with a comprehensive business strategy, to compete in today’s Experience Economy. But often management is misaligned on the organizational goals and vision of their company, thus reducing effectiveness and performance,” said Kevin Blair, President and COO of NewGround.
This diagnostic assessment is conducted through a short, on-line survey which addresses an organization’s history, retail delivery platform and perceptions surrounding its brand, place, and culture. Upon completion of the assessment, individual manager’s perceptions are plotted on a model demonstrating team alignment, or lack thereof, with regards to the organization’s retail delivery strategy.
“After taking WayPoint, you will see where the gaps and weaknesses lie in regards to team unification, and from there you can develop a plan to align your managers’ perceptions and your business strategy,” said Blair. “It’s about getting your whole team moving forward, together, in the right direction.”
Currently, NewGround’s WayPoint is being used by the BAI to conduct an industry-wide perception study focusing on what defines a unique customer experience in the context of experience retail banking, and what financial institutions can do to transition from providing commoditized financial services to providing a differentiated, dynamic customer experience.
NewGround is initially offering a free WayPoint assessment to financial institutions participating in the study. Results of this industry study will be revealed in November at the BAI Retail Delivery Conference & Expo.
If you are interesting in taking the WayPoint assessment, go to www.yourwaypoint.com.
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CUCORP, NEWGROUND PARTNERSHIP TO OFFER CREDIT UNIONS MARKETING, BRANCHING SERVICES
Credit Unions to Receive Discount on NewGround Services
NORTHVILLE TOWNSHIP, Mich., June 15, 2006 — Michigan credit unions will have access to a myriad of architectural design, construction management and branding services specifically designed for the financial services industry at a discounted rate, through a partnership between CUcorp, the wholly-owned subsidiary of the Michigan Credit Union League (MCUL), and NewGround.
NewGround, an international design/build and retail services firm, offers credit unions strategic insight and solutions to develop and deliver a more powerful member experience.
“Credit union members are looking for much more of a dynamic and personable retail experience when visiting branch locations,” said NewGround President/COO Kevin Blair. “Credit unions that understand the shift from a service environment to an experience environment are the ones that will survive, thrive and differentiate themselves in the complex financial services marketplace.”
NewGround has been providing construction and branding services to credit unions nationwide for 93 years.
“This partnership came about as a result of numerous credit unions seeking to expand their branch network,” said MCUL/CUcorp Strategic Solutions and Consulting Vice President Alan Babcock. “NewGround has a wealth of experience and the expertise to develop and implement a branching strategy from site location and analysis to innovative design and build solutions. For those credit unions looking to develop a new brand as a result of a merger or name change, NewGround also offers a comprehensive suite of brand marketing services.”
Organized in 1934, the Michigan Credit Union League (MCUL) is a statewide trade association representing Michigan credit unions. Based in Northville Township with a satellite office in Lansing, the MCUL offers credit unions assistance in the areas of regulatory compliance, legislative advocacy, media advocacy and operational information. Visit the MCUL’s Web site at www.mcul.org.
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NewGround “Sets” Electro Savings Credit Union for Success
NewGround recently “set” the new Electro Savings Credit Union at 16500 Old Manchester Rd. in Wildwood, MO.
In one day, four component building structures were delivered to the construction site and placed onto a poured concrete wall and pier foundation system by a 120-ton crane to create the new credit union. The largest component was 13 ft. 8 in. by 67 ft. and weighed 43,000 lbs. Four trucks transported the components to the Wildwood site from Elkhart, IN. When completed the building will be 3,400 square-feet.
The new Electro Savings Credit Union is an Accelerated Development project being constructed by NewGround, a design/build and retail services firm headquartered in St. Louis, MO.
“The difference between Accelerated Development and traditional construction is speed and flexibility. By doing two things at once, site preparation and off-site component engineering, NewGround Accelerated Development speeds up the construction process,” said John Stewart, Director of Accelerated Development for NewGround.
In the time it takes to prepare a site for construction, 95 percent of the building’s components, including heating and air conditioning, electrical systems, and plumbing fixtures are completed and ready to go. The specially engineered components are then delivered to the site for installation and finishing.
Project completion is scheduled for August 2006.
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NewGround Announces Appointment of Gary D. Pett To Its Board of Directors
New Director Brings Wealth of Industry Experience to NewGround Board
NewGround, a leader in design/build and retail services for the financial industry, announced the appointment of Gary D. Pett, former President of Cosmopolitan Bank and Trust, to its board of directors.
Pett’s appointment underscores NewGround’s commitment to providing innovative solutions to help the financial industry compete in today’s evolving market. Pett’s industry expertise will be a key asset to the NewGround board of directors.
“Gary Pett brings an important perspective to our board with his valuable executive experience as a community bank CEO and his management expertise in a large multi-national bank holding company,” said Ted Golitz, Chairman and CEO of NewGround. “The financial services industry is undergoing a radical transformation as banks, credit unions, thrifts, and other non-financial institutions are moving towards developing a retail experience for their customers to improve their market share, ROI and net profit. His expertise will aid our company in responding to this changing market and continuing our future growth.”
Pett is the former President of Cosmopolitan Bank and Trust, owned by FBOP, a $13 billion bank holding company with operations in Arizona, California, Illinois and Texas. Prior to his service for Cosmopolitan Bank, Pett worked for Harris Trust and Savings Bank for 20 years where he held various executive positions including Senior Vice President and Chief Credit officer, Community Banking; President, CEO, and Executive Vice President of Harris Bank Barrington, N.A. Harris Bank is owned by the $150 billion Bank of Montreal.
Gary Pett holds a Bachelor of Business Administration degree from the University of Michigan and a Master of Science degree in Accounting from DePaul University. He has also completed advanced executive programs at Northwestern University/University of Western Ontario.
Gary resides in Northbrook, IL with his wife Martha and their four children.
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NewGround Receives MBI Award of Distinction for Washington Savings Bank Project
(St. Louis, MO) — NewGround was recently recognized by the Modular Building Institute (MBI) for its design-build of the Washington Savings Bank drive-up facility in Effingham, IL. MBI’s Awards of Distinction are given to commercial modular building projects that demonstrate areas of architectural excellence, technical innovation, and cost effectiveness/energy efficiency.
“We are honored that MBI selected NewGround to receive this award for the Washington Savings Bank drive-up facility. Through our Accelerated Development program, we were able to speed construction time, while still creating a building that meets the needs of Washington Savings Bank and reflects their brand,” said John Stewart, Director of Accelerated Development at NewGround.
The multi-lane drive-up facility sits directly across the street from the main office of Washington Savings Bank. NewGround worked to create a facility for Washington Savings Bank that had the same visual look of their main office, seamlessly blending a factory built component with field applied finishes and systems that showcase elegant, clean lines.
Time and cost effectiveness were important factors to this project. A modified grade beam foundation system was used to speed preliminary site work and save on excavation and foundation costs.
“We are very pleased with the new facility,” said Claude Hudson, President of Washington Savings Bank. “The speed in which we we’re able to have this new facility up and running was phenomenal. And it complements our main office well.”
According to Tom Hardiman, Executive Director of MBI, the 2006 Awards of Distinction contest was very competitive. “We received over 100 entries. And voting took place at the most highly attended MBI tradeshow on record, making it a very tough contest. The winners of this contest received a true vote of confidence from their peers for modular buildings that represent the excellence offered through commercial modular construction.”
About Washington Savings Bank
Washington Savings Bank has more than a century of rich history. As a locally owned community bank, customers can be assured they will receive friendly service from people who know them personally. Because Washington Savings Bank offers outstanding loan options, it is the area’s number one choice in home loans. People enjoy dropping off their payments at the drive-up facility, in the lobby or by mail. They also appreciate the full service banking opportunities including checking, savings, internet banking and the 24-hour drive-up ATM.
About MBI
Founded in 1983, the Modular Building Institute is an international nonprofit trade association representing commercial modular building manufacturers and distributors with members in 850 locations and 15 countries including the United States, Australia, Belgium, Canada, Denmark, France, Germany, Hungary, Japan, Mexico, the Netherlands, Peru, Poland, and the United Kingdom. Members serve seven primary markets: general office, education, retail, healthcare, government, security, and construction-site. For more information, visit www.modular.org.
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NewGround and Adrenaline, Inc. Partner to Offer Brand Assessment and Delivery Tool
SpringBoard Diagnostic Provides Brand Strategy for Financial Institutions
March 16, 2006 (St. Louis, MO) — NewGround and Adrenaline, Inc. have announced a joint partnership in the development of the financial industry’s first brand and service delivery assessment model called SpringBoard® Diagnostic. Specifically developed as a diagnostic assessment for financial institutions, SpringBoard evaluates an organization’s goals and objectives and identifies and assesses the market to develop an integrated, long-term brand strategy plan.
“Through research analysis, innovative strategy, and breakthrough design we will give financial institutions the catalyst or ‘springboard’ to transform facilities and launch branded, retail-powerhouses,” said Doug Strickler, CEO of Adrenaline, Inc.
SpringBoard Diagnostic is a verified report that defines companies in the marketplace through market segmentation analysis, mystery shops, market research, roundtable interviews, and competitive analysis. A branch analysis and audit of an organization’s brand and positioning is also conducted within the SpringBoard package which assesses the existing retail environment. Based on these research findings, a comprehensive retail communications plan is developed outlining areas to enhance the retail experience.
“SpringBoard provides a panoramic view of a company’s current situation in their competitive landscape and provides a strategy on how to propel an organization to the next level,” said Kevin Blair, president of NewGround.
The brand diagnostic tool utilizes the strengths and capabilities of NewGround and Adrenaline, both leaders in their respective fields, to help financial institutions respond to the changing market.
“To stay competitive in today’s Experience Economy, a company’s brand, place and culture must be integrated through a multi-channel experience. By aligning these elements, an institution will create a memorable and powerful customer experience that will differentiate them in the marketplace,” said Blair, of NewGround.
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NewGround White Paper Says Strategy and Staff Must Align for Financial Institutions to Create a Successful Customer Experience
November 13, 2006 (St. Louis, MO) — NewGround, a design/build and retail services firm for financial institutions, has released a new white paper examining how financial institutions must align management and staff to deliver a cohesive retail strategy, and in turn, a successful customer relationship experience.
“Ninety-five percent of respondents admitted that they have a traditional retail delivery model, despite the fact that the market is shifting to an experiential paradigm. Consumers are experiencing a major disconnect between what they want and expect from their financial institution, and what the financial service industry is providing,” says Kevin Blair, President & COO of NewGround.
NewGround’s research builds on the findings of The Relationship Experience, a new BAI study launched in partnership with NewGround, SAP, Accenture, Unisys, ARGO Data Resources and Strategic Horizons. The study uncovered that more than 95% of participants have considerable misalignment in the perceptions of their retail delivery strategy across their organization.
“Our survey revealed that many financial institutions lack a clear insight as to what kind of value proposition they currently offer their customers, and what their customers want from them. Understanding these views and expectations is a critical step in creating and providing a relationship experience,” says Blair.
Findings show that one in five customers (20%) are “loyal” or extremely satisfied with their primary bank relationship, while one in four are positive about it, and 55% of those customers would qualify as hesitant or at risk of leaving. The survey also found that customers who are the most loyal to their financial institutions are also the ones that are less sensitive to pricing, putting a premium instead on “excellent customer service” and “warm, enthusiastic and friendly employees.”
According to NewGround, a crucial factor in developing more effective relationships with customers is communication. Senior management and frontline employees alike need to have a shared, cohesive vision of their retail delivery approach and how to go about delivering it. While the industry seems to agree with NewGround’s assessment, few organizations are following it through with frontline staff.
Nearly all participants—more than 93%—indicated that these frontline positions require a combination of customer relationship and sales skills to succeed, while only 33% say they currently incorporate formal training or relationship management. And 79% say that their frontline staff lacks the skills or the access to utilize the basic customer relationship information that would allow them to retain and grow relationships.
Ironically, 81% of bank executives believe that developing relationship experiences will lead to financial success. More than one-third (35%) of respondents cited creating great customer experiences as a way to differentiate themselves from the competition and 19% said it was through delivery.
“Financial institutions that can successfully align their goals for the organization’s brand, place and culture and can articulate and deliver this vision to their customers will have a greater competitive advantage that will result in larger deposits and cross-sales, and more satisfied and loyal customers,” says Blair.
To request a free copy of the white paper, call NewGround at 1.888.613.0001 ext. 8453.
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2006 ARCHIVES