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Showing posts from November, 2021

Why Business Banking Customers Face Delays After Their Accounts Are Approved

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  The paperwork is complete. Compliance checks are done, and the relationship manager confirms that the account is ready. Yet, the business customers still cannot use all the banking services they need. Opening a bank account is only the first step for many businesses. They may also need access to ACH transfers, wire payments, treasury services, online banking, or business debit cards. These services often involve separate applications, departments, and approval steps. So, even after account approval, some services may still be pending. This delay frustrates customers and increases bank employees' workload . Account Approval Does Not Always Mean Business Readiness Business banking onboarding involves more than verifying documents and creating an account. Several activities may remain incomplete before a customer can use the services they requested. These may include: Setting up online banking and user access. Activating ACH and wire transfers. Setting up treasury management servic...

Customer relationship management for Higher Revenues

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  In today’s fast-paced, ever-evolving business landscape, remaining complacent is not an option. The more information you have on your audience in the form of customer data, the better equipped you’ll be to beat your competitors and offer better products and services. One of the most valuable types of enterprise data is the relationships and interactions that you have with your customers and prospective customers—a concept summarized as customer relationship management and associated with the snappy acronym “CRM.” So what is CRM exactly and what are the benefits of CRM for your business? What Is Customer Relationship Management (CRM)? Customer relationship management  is a catchall term for the various processes and systems that businesses use to manage their interactions and relationships with their customers and prospects. Breaking down this term into its three constituent parts, you get: Customers:  Your existing user base, as well as any prospects and leads in y...