Top 4 Questions To Ask When Selling IT To Community Banks And Credit Unions

By Rahn Rampton, Product Manager for Financial Services, Epson

With all the hype swirling around payments, mammoth payment processors acquiring point of sale (POS) companies and independent sales organizations (ISOs) crowding in to steal market share, now may be the best time to focus on markets you know best. Many resellers have enjoyed healthy success selling to community banks and credit unions.

The Credit Union Trends Report by CUNA Mutual Group reported that credit unions added more than 1.5 million memberships in the third quarter of 2015, the fastest growth in credit union history. In October 2015, for the first time in history, credit union new auto loan balances reached the $100 billion milestone.

The message is clear: community banks and credit unions are alive and kicking. Here are the top four questions to keep in mind during your next customer visit. Opportunities are out there — you just have to ask the right questions and uncover them.

1. What pain points are your tellers experiencing? Teller errors cost banks time and money. If tellers are accepting checks and manually typing in the information for balancing at the end of day, there’s plenty of room for mistakes. Ask tellers about their pain points. Ask if you can watch them performing day-to-day processes. When you do this kind of impromptu audit, chances are you’ll see room for technology upgrades. For example, when tellers use scanners to image checks at the first point of presentment, the check is electronically read, verified and is only handled once — dramatically decreasing the human error associated with accepting checks at the window.

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