Developing good bank service processes always trumps a good RM who eventually moves on.
RM’s who know their customers and how they use their products.
"My top pain point is account analysis. It’s incredibly annoying. We spend way too much time validating and analyzing the banks’ statements. Making billing easier is my #1 recommendation."
Simplifying and bundling, pricing will win trust and confidence.
“Somebody has to manage the relationship, if the RM falls short, we pick up the slack, and we end up spending more time managing them than managing our business.”
"Responsiveness is cultural. Some banks are better than others. There are three banks that stand above the rest – they have a lower tolerance for bureaucracy."
Designing CX from the client’s perspective improves their productivity.
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“My bank knows exactly how many clicks it takes to do certain transactions, and that’s important. Their new system dashboard is 3 clicks to everything I need.”
Is Your Bank Easy?
"We see inconsistencies in documentation and compliance requirements between regions of the same bank. We’re educating them on their own policies."
"Establishing new services is an ordeal. It feels like it’s the first time the bank has implemented the product. Banks have forms, but they don’t have a plan."
Multi-channel two way communications that allow for customer preferences.
Clients have a limited tolerance for bank quality issues.
Employees who stay up to date on trends in their customers’ industry and speak their language.
Creating stickier relationships starts with a good data exchange process between the bank and its clients.
Banks are missing an enormous opportunity to gain a clear competitive advantage by simply making it easier for these valuable customers to do business. But what does “easy” look like? Here’s what treasury executives told us.
Simple and streamlined account opening process with digital signatures.
Client portals with clear status and task management tools.
“Wire transfer system outages aren’t the same as an ATM outage.”
“When IT is involved, it’s hard. IT rules the world at the banks, and the IT process is rigid, frustrating and painfully slow. It always feels like our project is the first one they’ve ever done. ”
"Easy means using my language, not bank language."
"Easy is understanding my business."
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