Solve Problems, Make Money: A Smarter Way to Derive Fee Income
Are you a midsize or community bank? If so, how does your bank compare to the market in attracting fee income? In 2017, you should begin to think of ways to benchmark your fee income against the market as a whole, see how you stack up, and strive to increase this important revenue source.
In the coming year, think about how fee income can provide a win-win for you and your customers. Start by looking at your commercial customer base, especially if you serve middle market companies that have a substantial volume of payables to manage but no easy way to automate their systems. Strive to work with your midsize commercial customers to solve these problems by offering services that streamline and automate the accounts payable process.
MineralTree offers solutions for banks that can help your midsize commercial customers. Our products support multiple payment options to help companies optimize their payables, maximize early pay discounts, manage working capital, and earn credit card rebates and rewards. By providing services that save your corporate customers money, you can make money. With the right partners, you should begin to see your fee income share climb in 2017.
ABOUT THE AUTHOR
Christina Pappas is the Director of Marketing at MineralTree.
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