Texas Bay Business Insider - Summer 2022

TEXAS BAY BUSINESS INSIDER Do More with Clover® You found your passion, your drive, and you’ve turned it into a profitable business. Texas Bay finds passion in helping our business members find success in their fields of expertise. In order to help you, we have partnered with Clover®, a POS (Point of Sale) system that can help transform any business into a thriving and easy to manage venture. With this partnership, we hope to help our business members soar to new heights.

How Can We Help?

Texas Bay’s partnership with Clover® offers our business members a POS

Summer 2022

system that helps with payment processing as well as business management solutions all in one place. Each Clover® device can be customized to your needs. Choose from six different systems based on what type fits the type of business you own.

try the compact countertop system with a full-scale POS functioning system with a cash drawer. Now, if your store is actually quite a large size, you can opt for the Clover® Station that is an all in one countertop POS and business management system.

If you take your business to events, trade shows, community events, then try Clover® Go, an all in one contactless, chip, and swipe card reader that can wirelessly pair with your smartphones, or Clover® Flex that has a builtin receipt printer, camera, and QR scanner in a single device.

Your business deserves the very best, curated to your needs, and ready to serve your customers with the very best service. Show your customers why they choose you time and time again.

Provide your business the top of the line merchant services that can only help you knock out the competition. To begin taking your business to the next level with Clover®, contact the Texas Bay Team at your local branch.

If you have a small, but physical store and need something at your counter,

Local Business Spotlight: La Fonda & Chamoy

At Texas Bay, we love supporting our local businesses. These family-owned businesses are two of our Pasadena branch’s favorite lunch stops. If you’re looking for a delicious, steaming lunch, drop by La Fonda Taqueria. This momand-pop-owned restaurant started as a small drive-thru-only lunch stop and soon evolved into a larger-scaled sit-down restaurant, constantly fragrant with juicy meats and freshly made tortillas. If you’re in the mood for some summer refreshments, try popping into the snack shop next door owned by the son and daughter-in-law, Chamoy.

Enjoy mouthwatering fresh fruit with tangy Chamoy laced over it or even some spicy hot Cheetos with nacho cheese drizzled on top. Whatever your taste buds are craving, these familyowned joints are here to serve it to you.

Drop by and grab a bite!

Ask the VPs Our VPs answer the question: “What trends do you see in your department that small business owners should be aware of?”

Syed Dinar

Executive Vice President & CFO

For a successful small business, adequate cash flow is the key. This not only helps small business owners pay for supplies, employee salaries, and other expenses, it is equally important to get a business loan from a small business lender. When lenders review documentation for a loan, they will review business cash flow as well as the credit score of the business owners. A great credit score and good average cash flow can make it easier for lenders to extend credit to finance your growth. In a rising rate environment, maintaining a good credit score could help you save a lot in interest expenses should you decide to borrow money to grow your business.

Chelly DeLeon

VP of Human Resources

COVID-19 has affected workplaces across the world.

These challenging times have allowed employees to reassess their priorities and be empowered to make employment decisions that best suit their personal and professional goals. As employers, we need to understand that flexibility will be what the new workforce expects, whether with scheduling, remote work, career development, etc. In HR, we know that the future of workplaces will need to be flexible to successfully retain and attract employees.

Charlotte Yocom

Chauncey Onyon

VP of Marketing & Business Development

VP of Technology

Now more than ever, it is important for businesses to maintain proper backup solutions for their customer/ business data. The ever-evolving cyber security landscape now strongly recommends and encourages expanding these backups to include an “off-site” or “out of network” solution(s) like cloud-based storage. Utilization and proper maintenance of such storage/backup options can prove vital to ensuring strong business continuity and the ability to bounce back quickly in the event of a cyber takeover, natural disaster, power outage or other unfortunate business-impacting events.

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To compete in growing markets in 2022, you must focus on building your brand awareness and gaining traction in the coveted space of user-generated content. In a recent study, 88% of consumers say authenticity is important when deciding what brands to support, and 79% say that user-generated content highly impacts their purchasing decisions. Consumers want brands to be honest and transparent. They look for your brand and messaging to remain consistent with your brand’s values. While ensuring your messaging and experience with consumers hits the authenticity consumers are looking for, another way to spread the word about your brand is through usergenerated content, such as reviews, comments, images, and videos that users on online platforms have left. In 2022 make sure your brand’s story comes through to consumers.

Jeremy Bratton

Brandy Guzman

VP of Training & Compliance

VP of Branches & Operations

One particular trend that has been a major topic of discussion across several sectors is Synthetic Identity Fraud. It is the most prominent form of identity fraud in the U.S. So, what is it? Synthetic Identity Fraud occurs when fraudsters combine real and fabricated data from several different victims (rather than just stealing someone’s identity) to create an entirely new persona. This type of fraud can cause a number of headaches for merchants because the costs associated with synthetic fraud will usually fall on the merchant in the form of shipping costs and lost goods.

To make matters even worse, sometimes, these fraudsters file chargebacks inflicting further damage to a merchant’s bottom line.

Choosing the right partner to help you meet all your business goals is essential for every business owner, and it’s a good idea to research your options and pick a financial partner as committed to your success as you are. There are many ways to ensure you maximize the benefits your financial institution offers, such as utilizing their merchant services, which can often save you a good deal on merchant processing, equipment, and payroll services. It can also help you protect your customers and business from fraud. The ability to process deposits automatically through ACH saves money and time by directly depositing payroll into your employee’s accounts without needing paper checks.

One simple way to help merchants combat this type of fraud is to look for orders with different customer names but matching mailing addresses, IP information, and phone numbers. Other methods involve deploying machine learning and artificial intelligence technologies to screen new customers and monitor transactions to help flag potential fraud before it happens.

There are also so many benefits from partnering with a financial institution that can offer you a competitive rate on a business credit card. It creates efficiency by cutting down the time it takes to work on reimbursements, builds your business credit history, keeps your personal finances separate from your business’s, and can offer you rewards and points. Look for a card that can offer you dynamic spending limits for even greater control of your finances and expenses. At Texas Bay, we are passionate about helping you reach both your personal and business goals, and we can help you with all of the items mentioned above, to help you take your business to that next level.

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