01 Apr How Can Banks Help Their Business Clients Endure the COVID-19 Pandemic?
COVID-19 is having an impact on nearly every facet of daily life. More than 9 million people have filed for unemployment, and a growing number of counties and states are issuing stay-at-home orders that temporarily shutter all businesses that aren’t classified as “essential.” Your business clients need your bank now more than ever.
Here are 3 ways banks can help their business clients endure the COVID-19 pandemic:
Remind customers how they can reach you
Many bank branches are closing their lobbies and offering service through drive-up lanes only. Tell customers exactly how your operations are changing and let them know that—while you love seeing them in-person—you respect that these are uncertain times and want to remind them of all the alternative banking options you offer. These include:
• Interactive Teller Machines (ITMs)
• Mobile Banking
• Online Banking
• Telephone Banking
• Virtual Meetings
Reiterate that you are there for your customers and that they can easily access your banking services without ever needing to set foot in the lobby.
Build a resource library
Help your bank’s business customers access resources and information to help them sustain their operations through the COVID-19 pandemic. Your customers are trusting that you are the expert, so don’t let them down! Source content that will help customers maintain cash flow while reducing expenses. If you need help getting started, feel free to access our COVID-19 Business Resources page and share that information with your own customers.
You’ll also want to address opportunities that your clients may not know about or have heard of but don’t know how to access. For example, both Facebook and Amazon are offering small business grants due to COVID-19. Your clients might be too busy dealing with the fallout of COVID-19 to research relief programs, grants, and loans, so do everything you can to make these resources accessible to them.
Provide counseling on loans and financial services
The U.S Small Business Administration (SBA) offers low-interest disaster loans to help small businesses recover from situations exactly like the one we now find ourselves in. But it’s likely that your bank offers products that can help business clients during this time as well. Take U.S. Bank, for example. Their COVID-19 Information page includes information on quick loans, wealth management and investment support, Zelle for businesses, and more. Consider your bank’s portfolio of products and services, and how it could be utilized to help businesses during this time. Then, present those solutions to your customers. If you lead with value, this won’t come off as a sales pitch, but as a sincere offer of help.
If you’re looking for other ways to assist your customers through this difficult time, read through the FDIC’s coronavirus FAQ for financial institutions. It covers everything, from appraisal reports to payment accommodations, and more.
Finally, if your bank has questions about how to offer remote and/or mobile payment processing options to your customers, please reach out to us. We are here to help.
BASYS Processing as a business partner
If your processor isn’t delivering top-notch customer service and strategies to help grow your program, please call BASYS Processing at (800) 386-0711. Let’s talk about creating a true business partnership that will help you meet and exceed your goals.
BASYS Processing features:
– 90% + Customer Retention Rate
– Live operator when your merchant customers need support – no automated voice systems
– Dedicated relationship manager for questions and concerns
– Proactive contact with every merchant to walk through the annual PCI process
– In-house PCI Team to assist with questions and concerns
– Founded by a family who previously owned a bank
– Track record of successful bank partnerships
– Thorough Market Analysis followed by mutual plans and goals to grow your portfolio
– High-quality service mentality, similar to your bank
– Vested interest in protecting your bank’s hard-earned reputation
– In-depth initial bank training
– On-going bank training via weekly call and boot-camp programs
– Open line of communication between BASYS, you, and your customers
– Quick response time for your questions and concerns; you are a priority
About BASYS Processing
BASYS Processing provides credit card and debit card processing services, and solutions that include terminals, virtual terminals, e-commerce, mobile, and point-of-sale, customized to fit any need. Banks, associations, and software partners depend on us to strengthen their reputations and relationships with their customers by providing remarkable service paired with ultimate flexibility and pricing. Merchants depend on us to make accepting credit cards and debit cards convenient, safe & affordable. BASYS was founded in 2002 on one philosophy: to take care of our merchants, partners, and employees so they never want to leave. We are dedicated to working one-on-one with our customers to design the perfect solution. BASYS is Personalized Payment Processing.
Learn more at basyspro.com, and connect with us online at: