For banks big, medium or small, retention is king. Starting last January, Bank of America client managers began sitting down with each customer, inquiring about customer financial goals, retirement needs and anticipated future credit or borrowing needs. Smaller banks are using technology to quickly identify when money is sitting still, checking on a daily basis versus the traditional monthly basis: “Rather than be a parking lot for funds before cash goes to Fidelity or Schwab we can actually say ‘we have a brokerage firm.’” John Menke Webster Bank in CT
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