More than 1.9 billion people are conducting banking operations through digital channels. This number is projected to increase in the next few years, but the truth is, branches still play a pivotal role for customers. Therefore, bank branches shouldn’t be perceived as a costly overhead but as an important channel to yield higher revenue and enhance customer relationships. This article is about 7 keys to setting your bank branch for sales and service success .

7 Keys to Setting Your Bank Branch for Sales and Service Success

Bank managers should seize the opportunity that the shift in customers’ preferences creates and work to evolve branches to meet the new demands. Setting your branch for success is easier than ever if you leverage the right strategies. Read on to uncover the 7 keys to branch sales and service success.

7 Keys to Setting Your Bank Branch for Sales and Service Success

Make Client Security a Priority

Data is an invaluable resource, but its security is a topic of concern in banking. You need to instill trust in your customers by ensuring their data is safe. To do that, it’s wise to have a dedicated team that will keep up with security technologies. Additionally, you should implement forefront data security protocols like encryption, multifactor authentication, and transparent privacy policies.

Moreover, it’s also essential to provide data security training to customers to protect their data. This practice will not only reinforce data protection but will also present an opportunity to build customer relationships.

Train Employees to Serve Clients Better

To boost branch sales, the front-line staff should be good at capturing overall customer potential. Building a customer-centric team is the first and most important step. Assess potential hires with a focus on financial services sales aptitude. Then, train employees in sales interactions. Focus on getting them to be better at discovering and meeting the needs of the customers and building loyalty.

Consider encouraging customers to complete a relationship profile. This arms the salespeople with the needed information to deepen the discussion, provide contextual offers, and the right financial advice and guidance.

Reconsider the Service Delivery

If customers need to wait in queues for hours every time they visit your branch, they will eventually consider going to a competitor. Understanding wait time, lead time, interaction, and branch capacity can provide valuable insight in planning for peak time.

Consumer data can help you evaluate the amount of time spent in a customer-driven activity and adequately schedule staff. Consider tracking this information through an integrated queue and appointment system or video-based analytics.

Know Which Products Customers Like Most

Defining which products resonate best with your customers and focusing on cross-selling those is a great strategy to boost branch sales and service success. Pay special attention to the products and services that are unique to your institution and differentiate you from the competitors. Then, try to optimize sales strategies around them.

Additionally, you can start reaching out to customers to highlight these services and explain why and how they can be helpful.

Listen to Your Customers

Digital banking allows customers to open a new account or check their balance with just a few clicks. However, customers still go to physical branches and look for face-to-face meetings, especially for important life events and significant purchases.

With this in mind, you should focus on providing convenience to build loyalty and gain lifelong customers. To successfully do this, first-line workers should actively listen to what customers desire. According to recent data, people generally want convenient branch locations, ease of resolving problems, lower deposit interest rates, and a robust ATM network.

Leverage Technology

You can use technology to amplify customer engagement and satisfaction. You shouldn’t overlook the next-generation customer engagement systems. They can help you offer digital-first experiences for branch staff, along with more flexible processes. Additionally, consider deploying intelligent automation to relieve staff from doing repetitive tasks.

Moreover, technologies like machine learning can detect new patterns and offer valuable insight so that employees can understand customers’ needs with unprecedented depth. Last but not least, you can provide appointment scheduling to optimize the branch performance.

Create Targeted Campaigns

By tracking and evaluating customer data, you can understand the life stage of each customer and adequately inform messaging and ads placement. For instance, Gen Z-ers are just opening their first accounts and might soon need a debit or credit card. On the other hand, Millennials might need loans to buy their first homes or get married. Thanks to the advances in technologies, you now have great opportunities to create targeted campaigns to reach new customers.

In Conclusion

By empowering your branch with data, you can enhance customer satisfaction and boost sales and service success. That being said, be sure to review required activities on a daily, weekly, and monthly basis. This will help you get valuable insight and tweak your strategies to continually get the expected results.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post 7 Keys to Setting Your Bank Branch for Sales and Service Success appeared first on OpenBusinessCouncil Directory.

When it comes to switching bank accounts, or opening a business bank account for the first time, there are a range of things you’re going to want to look for. 

Not too many of us understand just how much can actually be provided by your bank account beyond just a place to store your income. Some accounts offer a great interest rate, perks for using the account and even give you access to certain perks in stores and more. 

In some cases you might even find that insurance comes standard on some bank accounts, or interest rates may be exponentially high for a certain period of time, giving you the chance to make some extra cash with your hard-earned savings. 

That being said, let’s take a look at some of the features your bank account (for business) should offer you below. 

• Expense Tracking Solutions

In a post-pandemic world, there’s a good chance you’re looking to keep your savings and expenses close by you at all times, and with that, the top tip we have is to look for bank accounts that have tracking features. 

You’ll be surprised to know that these solutions are still not standard across the board, and so work to do your research and look into accounts that help you track and understand how you’re spending money. This way you’re able to work to best mould your finances to suit your lifestyle better, and also grow your savings a little more while you’re at it. 

This feature is especially important if you’re looking to open an account for your business, as it makes tracking your expenses that much easier without the hard work. 

You can see this page for a little more information on a few perks to check for a bank account. 

• Financial Protection Solutions

Another perk of a business bank account is financial protection. 

You don’t want to run the risk of essentially losing everything you’ve worked for to a hacker, or losing your credit card on the street and so looking for bank accounts that offer financial protections is a good place to start. 

This type of protection comes in the form of insurance which may be offered at an extra fee, though some accounts do offer this free of charge if you meet deposit requirements. 

• Credit Score Protection

A third feature or waiver in a sense, is credit score protection for business credit cards. 

We all understand that running a business can be profoundly different to managing your own savings, and sometimes a little extra risk is required to make things work for you – and that means taking out lines of credit more often than you might like. 

What we suggest here is looking for business bank account features which essentially segregates your personal credit score from your business one, and vice versa. This way, you will have more freedom to undertake business as usual without the worry of credit scores damaging your business, or personal accounts. Click here to better understand business credit cards and credit scores.

• Rewards and Perks 

One big perk that many of us overlook are the rewards and cash back perks that come with using specific credit cards. 

You want to be rewarded when you join a bank, for your loyalty to that specific financial institution and so we suggest looking for business bank accounts and cards that offer cash back perks as opposed to point systems which very rarely result in anything tangible coming from the card or account itself. 

This way, you’re able to work to use your card for business expenses and be rewarded with perks and cash that can be injected right back into your business. Of course, this feature can reward unnecessary spending and so keeping an eye on expenses still remains paramount here. 

• Low or No Fees 

No one likes bank account fees, especially if you’re a business looking to keep an eye on your cash flow, and so looking for bank accounts that feature little to no bank account fees is a good place to start. 

Many banks offer accounts with zero fees for a certain period of time, or if you’re able to deposit a specific amount of cash each month. However, when it comes to avoiding fees, it’s always best to choose an account that simply has none to begin with and doesn’t require deposits to make this happen. 

However, it is good to note that for businesses, these bank account fees are tax deductible, so you can remove these when it comes to tax time. 

• Loyalty Perks or Rewards 

This feature is one that you may have to directly ask for, though it’s always worth it. 

If you’ve noticed that your current bank account isn’t cutting it for you or your business and you’re just about to move banks, then it’s worth your while to call your bank and let them know. Ask for any information on loyalty rewards or perks and you may find that they have something to offer you. 

When they don’t then you’re free to move banks without the concern that you might have missed out on something like a reduced rate or zero fees. 

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post 6 Features Your Business Bank Account Should Offer You appeared first on OpenBusinessCouncil Directory.

Buying a house is a big decision. However, even before you go house hunting, you need to choose the right mortgage lender. You need to decide from where you want to obtain the mortgage, is it going to be a bank or mortgage company. It is a crucial decision that one needs to make when buying a house.

Choosing a mortgage company to obtain home loan has its own advantages, but finding the right one isn’t going to be easy! You need to weigh the pros and cons of choosing either of the two before making the final decision. One of the best mortgage companies in the Pacific NW is Sammamish Mortgage. They are family owned local lending firm based out of Bellevue, Washington.

Sammamish Mortgage offers many different kinds of mortgage programs to the borrowers within the state as well as Idaho, Oregon, and Colorado. You could easily contact them by visiting their website or calling them on their registered phone number. They’ll be more than happy to answer any query that you might have regarding mortgage.

However, before you approach any home loan lender or a bank, go through the following benefits

Good Government Oversight

All the mortgage companies in the US need to adhere to the government rules and regulations. They must have a valid license. High standards are laid by the government, in order to keep a close tab on the counterfeit lending firms. Any company complying by these regulations is trustworthy and an expert in this field.

Variety

Banks are often the main source of loan funds. This is the main reasons why many feel that they’ll always get better home loan if they applied at a bank. Unfortunately, they tend to overlook the fact that these banks are tied to their own funding and interest rates. On the other hand, home loan companies are more flexible. This means that you can shop around to get the best home loan at reasonable rates.

Flexibility

Lending firms have a strong network, which allows them to offer more flexible loan programs to their customers with low credit scores or bad credit rating. This can be really helpful for those with special needs and extenuating circumstances. Such companies will also have good contact with the local realtor professionals, and thus have better understanding of the rise and fall of the real estate market.

Application Assistance

Home loan lenders work directly with the applicants. They know exactly what the customers need, and thus help them to easily apply online or offline. They ask you to get the exact documents that are needed to get a loan approved instantly. However, when you apply at a bank, there are chances that you’ll end up applying and reapplying several times due to lack of required documents or details entered incorrectly on the application form.

Bottom Line

So, which option do you want to go with? A bank will make sure that you mortgage stays with the same firm for a long term. However, a home loan company will offer your faster closing, better products and a great experience.

Tip: If you are 62 or older and own your own home, you may wan to consider a reverse mortgage as part of your retirement strategy. Learn more about shopping reverse mortgage providers at ReverseMortgageReviews.org.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Benefits of Choosing Mortgage Company Vs a Bank appeared first on OpenBusinessCouncil Directory.

Banks are adapting to the rise of consumer pressure to ensure they make things as convenient as possible for them. Businesses are also recognising it as a way in which it can actually boost their productivity when it comes to running the finances of their business.  If mobile banking isn’t something that you have already included as part of your 2018 business strategy – these trends may change your mind.

Mobile Bill Paying

Nobody wants to have to go to a brick and mortar bank to have to make payments – it’s much easier and less time-consuming to do these things on the go.  Mobile banking apps allow for you to do this, so you could even pay your bills and ensure your invoices have all been paid in on the go. You can even centralise your business process if you are a larger company by allowing subsidiaries or other relevant team members access to this.  Look at the linked article for some stats on the growth of mobile banking in general.

You can Now Get Text Message Alerts

On some mobile banking apps – you can also get options to receive regular text message alerts straight to your phone.  This could be information such as checking your account balance, viewing your recent transactions or transferring money between your accounts.  You can do all of this just by sending a text from your phone. You can click here to look online at BB&T for more information on their text messaging functionality on mobile banking.

Manage your Debit and Credit Cards

There are some mobile banking apps that also make it easier to manage the cards that you have with them.  This applies to both debit cards and credit cards. This can include things such as adding in spending limits, or else take them off, activating and deactivating cards, get information on any purchase made in real time, and restricting certain transactions.  This gives you great insight and control over your finances that you wouldn’t previously have on the go.

Your Banking Environment is Safe and Secure

Many people see this as a barrier to mobile banking – but actually mobile banking can add security to make you feel even more safe.  When creating an account on a mobile banking app – you will notice that they have incredibly strong password requirements – and there are lots of different authentication methods that are often required such as fingerprints.  You can also assign control as to what each user could do to make sure permissions are managed, and banks also monitor the activity on these, so they can easily spot any strange activity.

If you haven’t already decided to make use of mobile banking when it comes to monitoring your finances – then this may be something that you want to look into now to boost productivity in your business.

This is an article provided by our partners’ network. It might not necessarily reflect the views or opinions of our editorial team and management.

Contributed content

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Mobile Business Banking Trends that will Boost your Business appeared first on OpenBusinessCouncil Directory.