A Midwest distributor saw an opportune moment to move into the California market. It realized it would have to find a new West Coast bank. But to company officials’ surprise, its long-time local bank decided to follow the company to the Golden State and open west coast branch. There, the bank continued to support its customer, helping it streamline reporting and structure.
Not every business bank will literally go the extra mile on customers’ behalf. But in many ways, a bank can figuratively go the extra mile by leveraging expert treasury management process services on clients’ behalf. Here are three examples:
- Personalized communication. It’s important to communicate on a personal level to build rapport. For instance, Leaders Bank phones customers with ACH Block and filter transaction exceptions for “approve or deny” authorizations. This “person-to-person” outreach enables Leaders to better understand customers and their needs, and strengthen the relationship.
- Fraud consultation. Every passing day brings new ways fraud can be perpetrated with growing ease. A bank going the extra mile will consult with customers regarding fraud exposure on an on-going basis. The bank can help to make sure that fraud mitigating controls are in place to minimize the potential for fraud and to avoid losses.
- Facilitating smooth transitions. One bank using a third-party vendor arrangement to simplify customers’ acceptance of credit card payments decided to change vendors. It reached out to the customers to help them segue to the new vendor. The credit card payment process is technology intensive, so the bank also trained customers on alternative card payment processing, which in some cases led to savings.
When banks go the extra mile for you in treasury management process services, it demonstrates their genuine interest in your financial vitality. Is there an example you can share when a bank has gone the extra mile for you?
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