At a recent business event hosted by LJS, we all discussed the impact of “business and banking” and how banks need to become more advanced.

To begin, the topic that customers were most concerned about was the unexpected fees by banks. Whether it is interest fees, overdraft charges, chequing account fees, hard copy statement fees, lost card fees, there’s always a way the bank is always taking money away from you. Most of us, when we go to our bank, we have a personal bank teller that helps us but many business have noticed that whenever they need help from the back it is always a different person whether they’re new or not, there’s always a lack of communication. For example, when a business requests a meeting to open a separate account, it’s either that the bank is difficult to be reached or the bank has no sense of urgency to call you back. Furthermore, some banks are just too behind in technology still giving customers cheques to be deposited in the bank as well as not being able to access your personal bank statements online. This is a factor of theft because if it were done online, you wouldn`t have to worry about getting robbed, rather than having all your bank information online as easy access. Theft can be prevented when your personal business bank teller takes all precautions and re-checks anything, they do to have the client’s information in maximum security. As well, while having a business it is vital to grow a relationship with your accounts manager but is hard as managers are moving all over the place making it harder for business when banks should make it easier for them. Many banks don’t have enough employees to assist their clients which makes the whole banking process tedious.

Strategies for Change

In the other half of the conversation, we talked about strategies for change. An example would be to build a stronger relationship with the person who helps you so that you both are always on the same page and want to achieve the same goal. For banks to be more efficient with each of their clients, clients too need to push more for better and improved technology so that the client’s life can be easier. Moreover, it is the bank’s responsibility to inform the client about certain changes and how things are to be done because without knowing from the bank, you will never learn the proper process and not be efficient. As well, as a client you need to self educate yourself on what you need to bring so that you can make your bank manager’s process faster.