The Future of Commercial Loan Underwriting Has Arrived!

Posted by Debbie Gross

Jan 12, 2018 2:00:00 PM


Build a better mousetrap and the world will beat a path to your door.” – Ralph Waldo Emerson

The underwriting process for commercial loans has been evolving slowly for more than 30 years. Yet, for most community-based institutions, the basic components have remained constant – until now. Study after study over the past five years has indicated that borrowers want the friendly, local decisions and customer service that community-based institutions are known for. At the same time, they are demanding faster decisions and more efficient credit application methods.

Read More

Topics: Relationship Management, Commercial Lending

Ubiquity Is Key!

Posted by Al Suosso

Nov 9, 2016 11:00:00 AM

Truly effective customer relationship management (CRM) can only be accomplished if it is adopted on an enterprise-wide basis. Achieving an exceptional adoption rate has been a continuing challenge for financial institutions (FIs) of all sizes. One of the biggest challenges has been the lack of access to CRM tools within the applications that are used on a day to day basis by associates in varying departments within the FI.

To do their job efficiently, tellers must remain largely focused on the teller processing application presented on their desktop. Quickly handling routine and more complex transactions for customers is their primary role; however, a teller has a unique opportunity to provide customers with much more than a good transaction experience.

Read More

Topics: Relationship Management, Customer Experience

Using Information to Effectively Engage With Clients

Posted by Brad Dahlman

Aug 10, 2016 10:00:00 AM

How often do you go to your favorite restaurant or shop at your favorite store?

I personally visit Costco every week to pick up items for my family of five. This gives Costco 52 opportunities per year to “engage with me” at their store, for roughly 45 minutes each week. Now turning to banking; how many times a year do you engage with your clients?

In a recent FDIC report titled “Brick and Mortar Banking Remains Prevalent in an Increasingly Virtual World” and Brett King’s article “What the FDIC study on bank branches misses and it’s a massive hole”, there is a healthy discussion of this topic – how many times do clients visit your branch? 

While this key stat isn’t available for US banks, I was drawn to one chart from a UK bank. Spare Bank has tracked visits per year and from 1995 to 2016 the results are staggering – branch visits dropped from 24.5 visits per year to 1.3 visits per year. Put simply, clients visit their bank or credit union once or twice a year and their favorite store weekly!

Read More

Topics: Relationship Management, Profitability Management

Consumer, Do We Really Know You?

Posted by Milton King

Aug 28, 2015 4:18:19 PM


I was having breakfast with some friends recently, when I noticed something odd about the conversation.  None of them were talking about their banking institution.  Nor did someone breakout their new banking app and share it with everyone else at the table.  Clearly these people were not “in the business”.

Because I have been around the banking industry for so long, I decided to test the market.  I smoothly inserted the question, “who do you bank with?”  Once I got their answers, I asked “why ____?”  To a guy who is in the business, their answers were very low-tech.  The top three answers were as follows:

Read More

Topics: Relationship Management, Customer Experience

How to Grow Existing Client Relationships

Posted by Barbara Kempf

Aug 28, 2015 4:16:23 PM


Nearly every business today is working to “create, retain, and grow relationships profitably.” Successful financial institutions excel at creating, retaining, and growing client relationships.

Conventional wisdom across many industries indicates that it is less costly to generate new sales from current clients than to initiate new sales to prospects (the clients of our competitors). Let’s examine some of the ways a Customer Relationship Management (CRM) system can help us grow relationships with current clients.

Read More

Topics: Relationship Management

Calculating Customer Relationship Management ROI

Posted by Barbara Kempf

Aug 28, 2015 4:14:18 PM

The return on a financial institution’s investment in Customer Relationship Management (CRM) is more than covering the cost of the physical tools that support good CRM and sales.  The real issue is calculating the ROI on the total cost of the changes made to shift the front-line focus, placing it more sharply on the client.

The organization’s initial CRM costs typically include:  sales and service training, client service process improvements, possible organizational and staffing changes, and purchase of a comprehensive CRM system to facilitate front-line client interactions, client contact management, sales results tracking and reporting, and client profitability calculation and reporting.

Read More

Topics: Relationship Management

Let Me Tell You Why I'm Leaving

Posted by Kevin Moland

Aug 28, 2015 4:12:04 PM


I did something today I never thought I’d do: I left my bank.

What’s even more surprising is that I stopped by that top five national bank just down the street and moved my accounts there. Part of what makes this story so strange is that after a dozen years working in a community financial institution (FI) and two decades working for software vendors that service community financial institutions, I know local banks and credit unions (CUs) are the good guys and big banks are the evil empire. Nevertheless, I’m going over to the dark side.

Read More

Topics: Relationship Management, Mobile Banking

Pull the String on Your Client Relationship Management Strategy

Posted by Barbara Kempf

Aug 25, 2015 4:44:22 PM


A wise and very successful banker in Alaska once said about the bank’s sales and service culture, “If I leave it alone for one day we stop making progress. If I ignore it for even two days we begin to slide backward.”

That’s how culture change works. It’s something that requires consistent, everyday focus. Whenever something gets in the way of the leadership team’s commitment to CRM everything stops. When the CRM strategy is eliminated from each day’s conversation, it stagnates. If senior management fails to promote, discuss, and display commitment to CRM for two consecutive days, the entire strategy begins to decline.

Read More

Topics: Relationship Management

Subscribe to Email Updates

Untitled Document Untitled Document

Recent Posts