The Future of Community Banking for Businesses

By TS Bank
Published: Apr 13, 2016 8:20:00 AM

How has banking changed in the past few years for small businesses?       
One of the most significant challenges to the financial banking industry is that things are changing like never before. Today’s business clients want and expect excellence in convenience, mobility and delivery. In addition to communicating effectively with existing and prospective business clients about our current products and services, we strive to keep pushing the envelope to provide technology driven products and solutions, which encourage businesses to do business with community banks; thereby eliminating any community bank stigma.

What are some of products you would like to highlight for business clients?
In regards to our cash management offerings, TS Bank strives to be flexible and customizable to meet the exact needs of the client. We have a suite of Business Checking account options to allow for maximum flexibility but are also cost effective for the client.  The products range from Small Business Checking, which is a free checking product for those clients with relatively low volume of transactions, to our more robust Analyzed Checking product that allows clients to offset transactional and service fees by maintaining compensating balances in their account. 

TS Bank Cash Management provides business clients a secure, customized online banking experience tailored to their needs.  Multiple employees are allowed online access at the level required to perform their job duties. For instance, an employee may have the ability to view online statements but they are not allowed the ability to transfer funds between accounts. Different levels of approval can also be established to ensure that checks and balances are present for all types of transactions. These approval options include products such as ACH (automated clearing house) Origination, Wire Origination, and Business Bill Pay.   

Are there any new trends coming down the pipeline that will be added for business owners?
In Spring 2016, we will be rolling out the TS Bank Cash Management App. This is a mobile banking app for our business clients with the traditional benefits of mobile banking such as check balances, funds transfers, and mobile deposit, expanded options include the ability to approve ACH files, wire transfers and bill payments and the ability to receive push notices via your smart phone when a file is ready for approval. This allows for more flexibility when a business owner is traveling, does not have access to their laptop but has an important payroll file to approve.

What’s important in a banking relationship?
Community banking is key to community survival. We value our client’s success more than their satisfaction. Being engaged as active citizens in the community, serving as a financial partner with our clients and offering continual financial education are key ways to build strong relationships, businesses and communities.

Written by TS Bank