The lending world is changing and your business faces aggressive competition that just wasn’t there 5 years ago. Peer-to-Peer lending is increasing exponentially in Canada and the US. Technology giants like Apple and Google are now using their staggering market presence to provide your customers with new banking options you will soon have to compete with.
Participate rather than Compete.
Collaborative Banking is about how using new resources and partner-options to expand your lending capabilities and to hold your customer’s loyalty. By establishing selective partnerships, NorthBrook can provide you with expanded customer offerings, giving you the ability to retain customers that might have otherwise gone elsewhere for their next banking solution.
If done well collaborative banking can:
Meeting customer needs and holding their loyalty is recognized as a key objective in the financial sector today.
What you may not be aware of is there are collaborative banking platforms that are open to you. As an independent credit union, community bank, or non-bank lender, you can participate with other lending organizations, turning potential competitors into significant allies that work with you to drive new revenue sources and enhance your relationship with your customers.
By participating in NorthBrook’s Collaborative Banking project, you will have access to:
It’s the results that count.
Consider the benefit of retaining 5 or 10% more of your customer base with minimal effort. What about building that same loyalty with 3 or 4 customer segments through 3 or 4 different collaborative programs? Given the substantive advantage Collaborative Banking brings to your organization; it is imperative that it becomes an essential component to your day-to-day operations.
It’s your turn to start bringing these new capabilities into your operations and over to your customers. Face competition for that customer, or build more customer loyalty through partnering? It seems to be an easy choice… It just takes a change in thinking.
For more information on expanding your lending options, please contact us.