The client servicing offered by banks to their corporate clients plays a pivotal role in the success of both parties. Technology can make this relationship element more efficient, but investing in the human side of the equation is equally vital.
Client servicing by banks – essentially the support offered to corporate treasury and finance functions – may not be as top-of-mind as innovative products and services but it is essential to a healthy client-bank relationship.
Patrick Pots, Leading Cash Management Advisor at Equinor, an international energy company headquartered in Norway, explains: “Client service is increasingly crucial to us. When we select a bank, we know that they can all provide account structures and automated payments, so client service is a real differentiator.”
Equinor’s treasury, including cash management and payments, is highly centralised. This enables a high-level of attention from the treasury team to the business at large.
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