Menne Mennes, CFA’s Post

Community banking has evolved dramatically over the years, undergoing dynamic shifts that have challenged traditional methodologies. Kerry Ronquillo, Senior Director of Business Development at Suntell, discusses the changes that have transformed the way institutions operate. #loansoftware #commerciallending #aglending #riskmanagement #loanoriginationsoftware #powerof1 #square1

Is there a trick to relationship banking? Actually, there’s no trick at all. All you have to do is exceed customer expectations, one chat at a time. How are you hitting this goal? #RealtionshipBanking #FinTech

In banking of businesses, the competition for all businesses is fierce. This is mainly because of banks business strategies that seek depositors with high monthly average balances. Why? Because deposits are the lowest cost of funds for the lending side of banking businesses. Product professionals in the banks' treasury management groups are key to developing products that compete effectively and win/retain business depositors. Here's a report on a mega bank doing its part to compete for deposits. "The Charlotte, North Carolina-based bank said it rolled out a new capability this summer that enables treasurers and other finance professionals to launch an inquiry into the status of a transaction within the platform. It is part of an ongoing BofA effort to enhance its digital banking offerings to ensure businesses can largely manage and monitor their accounts online without always needing to pick up the phone or email for additional help." "Previously, BofA business clients could initiate an investigation to get more information about a transaction, but they wouldn’t necessarily know who was working on the issue and what its status was, Abbey Novack, CashPro product executive at BofA, said in an interview. “We’re really trying to mitigate informational black holes and give the client information before they even think, ‘You know what? I need to go and send an email now.’”   The improvement is a time-saver for both the bank and its customers because transaction-related inquiries are one of the main reasons clients continue to call and email the bank, she said. That may be partly because, once a company initiates a payment, a host of issues can crop up. For example, a company may send the payment from the wrong account or it may need to validate the status or details of the payment. At other times, companies need to resolve why the bank that was sent the funds is claiming nonreceipt. " #digitalbanking #treasurymanagementinnovation #competitiveadvantage

Retail and transaction banking Moving money for customers large and small

[Capitec] reduced its pricing to a flat R50 monthly fee and the same transaction fees that apply to 21 million personal banking clients, regardless of the size or format of the business. #businessbanking #capitec #bank #business

🏧 We told The Independent that the ability for small business owners to deposit #cash in a super #ATM that works for multiple banks is an important innovation. 💷 It could make a real difference in improving access to cash, especially in remote areas. 🔗 https://lnkd.in/eb85bAWc #SmallBusinesses #AccessToCash

Banking executives recognize the need to future-proof their businesses by meeting these evolving consumer expectations. #BankingTrends #GenZBanking #DigitalBanking #CustomerExperience #FinancialManagement #Fintech #ChallengerBanks #CustomerRetention #InnovationInBanking #FutureOfBanking https://lnkd.in/dabtm7zg

What is Banking-as-a-Service (BaaS) BaaS describes a model in which depository institutions (DIs) integrate their digital banking services seamlessly into the products of other nonbank businesses. Under this model, a DI allows a nonbank business to market the DI’s products—such as mobile banking accounts, debit cards, loans, and payment services—under the nonbank business’s name.

Banking Management System In this Project Features are Banking Operations such as Deposit, Withdrawals, Checking balance, and existing the program. #CodeAlpha #project

How do today’s lenders keep the relationship front and center in relationship banking? Join us Feb 13 for more tips in todays digital world!