Business and Banking – Pierre Laforet
On September 25th, 2019 LJS hosted its monthly discussion at the Sociable Restaurant here in Brantford. An event that brings various people together from the community with a wide range of professions. The topic this month was business and banking.
The first topic in the discussion was about the frustration we experience as people when dealing with banks. Whether it’s the interest rates or other fees that we don’t know about. A lot of us have a certain banker that we like but as business they are not always loyal to their clients. This can lead to a lack of communication especially when more than one person is responsible for your needs which also promotes a lack of urgency. In addition, some banks haven’t quite caught up to today’s standard of technology as some banks still give cheques or bank statements in physical form. A lack of technology within banks is partially responsible for thefts. Thefts can be avoided if everyone at the bank is doing their job properly and taking the right measures to ensure maximum security for their clients. When running a business, it is important to establish a good relationship with your account manager, but they often get changed around too much which can be difficult as every business works differently. Another problem with business and banking is they don’t always have enough employees which can lead to slower service or they have new employees who are un-trained to meet your needs.
In the second half of the discussion we talked about strategies for change. This includes building relationships between bank employees and businesses and their clients in order to work together to achieve a common goal. If we want a change in efficiency, we must make a push for technology because the banks must hear our concern and accommodate us. Also, it is our responsibility to provide the information that is required because without it, you the client are limited in the services that banks can provide for you. Not only is certain information important to thee but it can also apply to the law. Finally, it is important to be educated as the client you should know what the process is for whatever you are doing with your bank. Knowing what you need makes the process a lot easier and quicker.
What can we learn from all this? Well, most of the frustration we experience with business and banking is mostly smaller things that can be avoided. It is up to us to work with the banks and not let them make us inconvenient. Business owners and people need banks a lot, but banks need businesses to run as it is a part of the economy and society. Banks will never be perfect, but we can work with them to make it easier for us to work together.