Transactions are increasingly conducted online. A Treasury Relationship Manager (TRM) can tailor solutions that make them easier and safer.

We’re all getting used to working from home as a result of the COVID-19 pandemic. But in some ways, we’re accelerating a trend that was already taking place. Remote work was already becoming more common. E-commerce was already making everyone more comfortable with conducting all kinds of transactions—especially financial ones—online.

Nowhere was this trend more beneficial than in banking, and banks have been innovating to make it more practical, especially for businesses. Products and services such as Remote Deposit Capture, Online Wires, ACH and others make remote transactions easier and incorporate many measures to make them more secure.

But conducting more transactions remotely doesn’t make banks less connected to their customers; the opposite is true. While transactions take place without human intervention, consultation and advice are becoming more critical in this time of change.

For community banks and their customers, Treasury Relationship Managers are more important than ever.

TRMs use a holistic, 360° approach to learn all about their clients’ businesses to address and sometimes uncover problems that can be resolved with a tailored banking solution, using the most appropriate bank products and services for each client.

Some progressive banks offer a tiered approach to remote banking, from traditional online account programs to comprehensive suites of banking services that promote more efficient, secure transactions. TRMs are exceptionally skilled at advising clients as to which of those tiers is most appropriate, and at tailoring solutions that may not fit perfectly into specific tiers.

Beyond developing solutions, TRMs help businesses respond to unexpected or unusual needs. Recently, they have been the key to:

  • Helping businesses navigate the application processes for PPP-related loans
  • Developing new products such as streamlined, no-fee solutions for account analysis in this time of uncertainty
  • Obtaining additional FDIC Insurance for special circumstances

Treasury Relationship Managers work in concert with Relationship Managers, whose view of their clients’ businesses is based on their respective industries’ in-depth knowledge.

Relationship Managers are often specialists in specific markets such as healthcare, entertainment, real estate and others. Their role is to look beyond transactional banking to provide insights that can help guide businesses with best practices and market analyses.

They serve as advisors and the touchpoints for the myriad services and processes the bank offers. They do deep dives into clients’ business objectives, models and processes to understand each client’s specific needs, and use that to inform Treasury Relationship Managers’ client-tailored solutions.

At the end of the day, the combination of a Relationship Manager who knows the client’s industry inside out and a TRM who knows the client’s everyday operating needs inside out and is accountable to the client is the key to a successful business banking relationship. And that can be one of the keys to a successful business.

Treasury Relationship Managers

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