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Sales Strategies: Learning to Thrive on the 5 Ms

Posted by Patrick True

Nov 2, 2018 7:00:00 AM

 

The way we treat our clients and prospects determines how successful we are in exercising any long-term sales strategy within our organizations. As our mothers told us, “minding our Ps and Qs” goes a long way toward creating strong relationships. That’s just the beginning, though.

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Topics: Customer Experience, Commercial Lending, Relationship Management, customer satisfaction, sales, business management

Take the 2018 "Retention Visit Challenge" to Boost Your 2019 Results

Posted by Patrick True

Oct 19, 2018 7:05:00 AM

 

There are no traffic jams along the extra mile.– Roger Staubach 

Those of us who have spent most of our careers in commercial lending realize that there are typically two peak seasons during the typical calendar year. These are April – June and September to mid-November. By mid-November, many lenders are following the lead of their business clients and starting the holiday slide into to year end.

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Topics: Customer Experience, banking, fintech, Commercial Lending, Relationship Management, customer satisfaction

4 Reasons Your Commercial Loan Process Is Costing You Valuable Business

Posted by Gary Lewis

Oct 5, 2018 10:30:00 AM

The competitive landscape associated with commercial lending has changed significantly over the last 10 years. It’s a safe bet that if your process of marketing, originating, and managing these obligations hasn’t changed significantly during that time, you could be losing market share. Here are four reasons why community-based institutions may be losing ground in the market today.

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Topics: Customer Experience, technology, banking, fintech, Commercial Lending

True Community in Financial Services

Posted by Danny Payne

Oct 3, 2018 11:00:00 AM

For those people that know me or follow me on social media … I am a long-time Cleveland sports fanatic. Outside of the 2016 NBA Championship by the Cleveland Cavaliers, it has been a life of suffering through some heartbreak and some bad teams. The team I love and give the most to is the Cleveland Browns. I am laughed at, the target of jokes, and often just asked, “Why?”

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Topics: Football, Community, Credit Unions, banks, relationships, small business, Customer Experience, consumer, customer satisfaction, Information Technology

Seven Basic Truths in Commercial Lending, Part Two

Posted by Patrick True

Sep 21, 2018 10:30:00 AM

Part 2: Communication, Intuition, and Passion

Truth#4. There’s No Such Thing as a “Book and Don’t Look” Credit Facility 

Most experienced lenders would say that they never made a bad loan. While we can debate the accuracy of that statement, it is true that loans fail over time due to changing business or economic circumstances. Once a loan is on your books, it is your responsibility to make sure it is paid in full. 

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Topics: Customer Experience, technology, banking, Relationship Management, fintech, Commercial Lending

Seven Basic Truths in Commercial Lending, Part One

Posted by Patrick True

Sep 7, 2018 10:33:00 AM

Part 1: Know Your Customer, Know Your Culture

The practice of commercial credit risk management is both an art and a science. Recent technological developments have dramatically enhanced the daily processes associated with this field, but significant room still exists for experiential nuance when evaluating business relationships and managing outstanding facilities.

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Topics: Customer Experience, technology, banking, Relationship Management, fintech, Commercial Lending

Convenience or Connection? FIs Need Both.

Posted by Hannah Day

Aug 22, 2018 11:00:00 AM

In a rush to meet customer expectations when it comes to digital banking, automation, onboarding, and analytics, many FIs have mistakenly chosen convenience over connection. The result? A tremendous disconnect between cutting-edge functionality and making connections with customers in meaningful ways. Now, FIs are scrambling to repair the rift.

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Topics: Digital Generation, digital banking, Customer Experience, customer satisfaction, automation, onboarding, Analytics

The 5 Cs of Credit Still Reign

Posted by Richard Owens

Aug 10, 2018 10:01:00 AM

In recent years, fintech-style lending has focused a lot of attention on the concept of automated approval of smaller commercial loan requests. While it may seem as though lenders have moved away from the traditional “Five Cs” of credit toward a more digital path, they still reign supreme in the modern age of fintech.

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Topics: Customer Experience, technology, banking, Relationship Management, fintech, Commercial Lending, credit

A Scout's Guide to Commercial Lending

Posted by Gary Lewis

Jul 27, 2018 10:30:00 AM

 

 

Anyone who has spent time with Boy Scouts knows the scout slogan, “Do a good turn daily,” as well as their motto, “Be prepared.” There could not be two more appropriate phrases to guide commercial lenders – it’s the essence of everything they do during their careers. Like Scouts, commercial lenders are passionate about serving the needs of the businesses in their local communities. They also operate in an environment that carries the risk of financial loss, so they must be trained and prepared for any circumstances they may encounter on the trail.

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Topics: Customer Experience, technology, banking, Relationship Management, fintech, Commercial Lending

Consider a GPS for Your Commercial Loan Portfolio

Posted by Patrick True

Jul 13, 2018 10:15:00 AM

 

Anyone who has spent time travelling or hiking sometime over the last ten years has witnessed an impressive increase in the use of global positioning systems (GPS). These devices and phone apps have become invaluable to folks who spend a lot of time moving from one place to another. The concept of GPS has also worked its way into other automated systems.

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Topics: Customer Experience, user experience, technology, banking, Relationship Management, fintech, Commercial Lending

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