The Emotional Roots of Relationship Banking

10:48
 
Share
 

Fetch error

Hmmm there seems to be a problem fetching this series right now. Last successful fetch was on May 20, 2019 20:23 (2d ago)

What now? This series will be checked again in the next day. If you believe it should be working, please verify the publisher's feed link below is valid and includes actual episode links. You can contact support to request the feed be immediately fetched.

Manage episode 230136178 series 1767659
By Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio streamed directly from their servers.

Micah Bartlett’s views on “relationship banking” are formed by a fundamental insight: most people have a fraught emotional relationship with money. For most customers, he says in the latest ABA Banking Journal Podcast, finances cause anxiety, not empowerment. “There’s a big emotional component to money in people’s lives, and that’s helped inform how we approach our relationships with our customers.”

Meanwhile, community banks thrive on expertise about their customers, adds the president and CEO of Town and Country Bank in Springfield, Ill. “When we’re delivering products and solutions to our customers, it’s based on specific knowledge of their business, their industry, their needs.” To help build that expertise — and lay a foundation for a supportive relationship — Town and Country bank staff make thousands of outreach calls each year, not to pitch products but to understand how customers are doing.

“The majority of our customers don’t regularly come in the bank. If you’re through the onboarding process and you don’t have any program to reach out to those customers, their connection with you is really nothing more than the digital experience,” says Bartlett. “We want to take that a step further and make sure we’re staying in connection, even with customers we don’t see on a regular basis.”

99 episodes available. A new episode about every 5 days averaging 19 mins duration .