Q. What do I need to know about digital banking?
A: Digital technology is booming across every industry, and banking is no exception. Whether using automated clearinghouse (ACH) payments online to process credit and debit transfers or employing big data to prevent fraud, the industry is keeping pace with digital changes.
When it’s time to choose a bank, partner with one that cultivates a digital-friendly environment while connecting with the human side of business. Look for a bank that keeps it simple, relevant and real: it will provide the most satisfying business banking relationship.
SIMPLE Convenience is king. Because business owners like to access their accounts remotely instead of heading to the bank for every service, many banks have evolved their digital offerings so customers can bank from anywhere. Online deposits, corporate credit cards, TurboTax® services and lockboxes are becoming the norm, not the exception. Banks also manage retirement websites and provide fraud detection services that alert customers via email of unauthorized activity.
Ubiquitous smartphones make on-the-go banking even more crucial, particularly for the business traveler. Mobile banking makes managing business even easier and more convenient by offering away-from-office access to business accounts and recent activity, including viewing and transferring funds, scheduling bill payments and depositing checks.
Customers remain loyal when they’re able to quickly, easily and safely manage their accounts from anywhere.
RELEVANT Banking products attract customers, but excellent service keeps them. Succinct, tailored, top-of-mind communication strategies let customers know--round the clock and where they are--that the bank is looking out for them.
As banks develop online solutions, innovative apps and other digital offerings, they likewise foster advisory relationships with customers. True, customers want banking technology that’s handy and efficient, but they also need bankers who offer sound financial advice customized to their goals. This trusted relationship, along with advanced technology, drives success for both the banks and their customers.
REAL While banks aim to stay ahead of the technology curve, they know that positive customer relationships are based on a reputation and history of trustworthiness. As a potential business customer, heed the advice of current and recent customers with firsthand experience with the bank’s customer service.
Business owners of all sizes hold allegiance to banks that keep it real by staying true to their vision and mission.
For example, INTRUST Bank stays digitally connected with commercial customers through IntrustKnowsBusiness.com. Financial professionals share expertise across a variety of subjects in articles and videos and respond to online questions and comments. The site offers real-world situations and advice in an easy-to-use digital format, with the option of connecting online, by phone and in person.
Times are, indeed, changing. Business owners will do well by aligning with a bank that stays on the technology track and keeps business banking simple, relevant and real—it’s worth its weight in gold.
