At a time when much of the heavily regulated financial services industry is about as differentiated as a tub of vanilla ice cream, "we provide wealth management at the local level, getting to know our customers and understanding their needs and goals," he said. Customer service also is front and center at Vineland-based Sun National Bank, according to Edward Malandr, executive vice president He said the bank shook up its internal operations to give front-line business lenders broader operating authority.
sPOtLiGHt: BankinG & FinanCE Improving customer service to better meet unique needs of clients By Martin C. Daks Provident Bank, have beefed up their wealth the local level, getting to know our customers at Vineland-based Sun National Bank, accord- A sTUBBoRnly slow economy and record- management division and other value-added and understanding their needs and goals,” he ing to Edward Malandro, executive vice presi- low interest rates are making it tougher for services as a way to stand out from the crowd. said. “This way, we can determine appropriate dent. he said the bank shook up its internal banks to attract and retain customers. Instead Banking is all about relationships, accord- asset management, helping each client deter- operations to give front-line business lenders of competing on high-yield investments, many ing to James D. Nesci, Provident’s chief wealth mine their risk versus reward scenarios.” broader operating authority. institutions are touting safety — something management officer. At a time when much of The bank also has what he calls a “low- “we gave them a wider set of lending lim- that may be comforting, but is hardly a way to the heavily regulated financial services indus- voicemail” policy that lets clients “get through its,” malandro said, explaining that some loan raise a person’s pulse. try is about as differentiated as a tub of vanilla to us when they need us.” officers were hemmed in by a stratified, tightly some organizations, like Jersey city-based ice cream, “we provide wealth management at customer service also is front and center defined bandwidth of lending limits. “The prob- lem was if a commercial borrower came in with a request that was outside of a particular busi- ness lender’s limits, he or she would have to be referred to one of our specialists.” The frequent handoffs meant there was more chance for a borrower to fall through the cracks and suffer a needless delay. 90th anniversary The new initiative streamlined the process, giving some business lenders more authority at both lower and upper limits. “Also, while we can service a wide range of borrowers, we’ve now got a renewed focus on companies that have lending needs of up to $1 million,” malandro said. “we’re seeing We Continue To Make Funds “While we can service a wide Available For Your Business! range of borrowers, we’ve now got a renewed focus on compa- nies that have lending needs of up to $1 million. We’re seeing some signs that the economy may be starting a comeback.” Edward Malandro, executive vice president, Sun National Bank some signs that the economy may be starting
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