Treasury Management with the Client in Mind, Start to Finish – Part 2

As we highlighted in Part 1 of this blog, competing in the treasury management space is becoming more challenging as technology expectations grow. It’s also a highly desirable (and profitable) space for the FI to play in. In Part 1, Jen Megee, PRI project manager, discussed two ways to provide a client-centric experience to the all-important treasury management client base, which focused on controlling and streamlining both the sales and onboarding processes. This week, PRI touches on other methods to ensure that the treasury client is placed front and center during the management experience.   

1.     Demonstrate a strong internal commitment 

  • Have an effective training program for treasury management staff. The staff handling treasury management clients should be subject matter experts.  
  • Foster an environment of ownership. Create an environment where it is everyone’s responsibility to deliver on customer service, regardless of role. Implement refined procedures and develop quick reference guides for anyone who supports treasury management products and services.
  • Continually invest in product development. Ask whether there are any system enhancements to the current product set or any new products or services that FI clients are requesting. When rolling out a new product or service, build a business case. 

2.     Take a proactive approach to M&A treasury management clients 

  • Before conversion, reach out to the sales and support teams to explain the process. Include a communications plan document of all the steps in the process as well as client checklists for action items by date. Provide a preview period of the new system, if possible.

Taking an intentional, client-centric approach to minimize service disruption and maximize efficiency and ease-of-use for the client will lead to better relationships and greater profitability of treasury management clients.

Profit Resources specializes in identifying profitability improvement areas for financial institutions through revenue growth, cost control, streamlining processes, and effective use of technology. Contact us to learn more about our personalized approach to propel growth and improve profitability.

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