It used to be that a business owner’s
banker was a name and a voice on the
other end of the phone line. Sure, you met the banker in person when you first
opened the account but, barring any
problems, probably never saw the person again.
In today’s commercial banking world,
the presence of a strong relationship
between client and banker is crucial.
“It’s not simply a matter of lending
clients money or paying more interest on
their deposits,” says Maury Sanchez,
vice president and principal relationship
manager with Wells Fargo Bank. “It’s
about being there for them and having
that one-on-one relationship with all of
your customers.”
Smart Business talked to Sanchez
about the importance of a good banking
relationship.
What is the definition of a good relationship
in the commercial banking world?
I think it’s crucial, especially in today’s
market, to have a strong relationship
with your clients. As a banker you have
to understand your customers and their
business. You need to understand what
their needs are and provide them the
proper solutions and products that they
can utilize to help their business get
ahead. That doesn’t mean just selling
them something as a way to get them
into the bank, but actual services and
products that will help them in their
daily activities.
It’s important to provide the proper
services and be there for the customers
when they have a need, but it’s just as
important to understand what that need
is. We try to visit our customers at least
once a quarter, physically sitting in front
of them and letting them know we are
there for them. If they have any questions or concerns, they know they can
call us any time.
Being in front of your customers these
days is critical. With all of the competition vying for your customers you really
need to be on top of things and understand your clients’ businesses. I believe
a customer really appreciates it when
you identify and provide them the proper services they need, especially when
they weren’t aware the services were
available in the first place. I believe that
relationship banking is key to customer
retention and loyalty.
Have those needs and services changed
over the last 10 years?
I’ve been in banking for eight years and
began my career as a business banker. In
the past, it was more about bringing in
loans and deposits. Today as a relationship manager, I work closely with my
clients to find the best products and
services for their businesses. With the
competition like it is today it is very
important to establish a relationship
with your customers. It’s not just about
tying customers to the bank, but it’s
about making sure you’re aware of their
needs and finding products and solutions to meet those needs.
So the banking relationship is more one on
one today than it was in the past?
When I introduce myself to new customers or prospects, I’m offering them a
one-on-one relationship with the person
who will be their main contact. I am also
providing them the assurance that they
can contact me with any questions or
concerns they might have. If I don’t have
the answers, I will find the answers for
them. We have many departments and
partners within our organization that
specialize in various areas and I can
guide the customer in the right direction
and make sure they contact the right
person to help with their particular
issue. That is the best way to resolve any
issues or questions the customer might
have.
It is especially important in today’s turbulent economy to get out in front of
clients and let them know that you are
there and that you care about them.
How do you keep each client’s relationship
personalized with so many clients?
We are not able to get in front of every
client, every month. We go through our
portfolio and determine who we haven’t
contacted in a while and get with them
to see what’s going on. There are also
some clients who call me on a daily or
weekly basis so I don’t have to initiate a
contact. And if I’m out of the office when
they call I return their call as soon as I
can. My clients know who I am, have my
office and cell phone numbers, and they
know they can reach me whenever they
need me. I am always accessible.
MAURY SANCHEZ is vice president and principal relationship manager with Wells Fargo Bank. Reach him at (713) 209-6676 or
[email protected].
