Mastering Treasury Management Service Requests

We've all experienced it: troubleshooting a customer's complaint about a misplaced treasury management service request that wasn't resolved promptly. Often, we discover the customer left the request with a lending team member late on a Friday. By Monday, when the team member reviews their voicemails, they get distracted and fail to forward the message to the TM support team until later that morning. Even when a team member addresses the issue, they might not inform the customer until later in the afternoon.

Managing treasury management service requests, as illustrated, can be challenging. Customers leave messages in various places, and by the time the request reaches the right person, hours have passed. This is far from ideal.

Here are some examples we’ve encountered:

• At Bank A, service request calls are directed to a relationship manager, who then spends time researching and resolving the problem. However, Bank A lacks a resolution tracking system, meaning repeat issues require fresh research.
• At Bank B, service requests are received at the branch teller/reception and manually passed on, hopefully, to the appropriate resolver. Without a tracking system, every request needs human evaluation to direct it correctly.
• At Bank C, requests go directly to the "Banking" team and are either resolved there or forwarded to the business operations team. Again, the absence of a tracking system unnecessarily delays resolving these issues.
• At Bank D, requests reach the operations team, mixed with retail service requests, and are eventually addressed. While issues are tracked in a shared mailbox or spreadsheet, there’s little accountability for timely or accurate resolutions.

Contrast these examples with the industry standard for handling service requests:

• A single phone number is dedicated to all business customer service requests.
• A unified email address is used for all such requests and when an email arrives, it automatically creates a service ticket and replies back to the customer.
• One team is responsible for resolving all business customer service queries.
• Every request is logged in our service ticketing software, with resolutions tracked and metrics to drive results.

Since most Treasury Management services are technology driven, adopting best practices from the tech industry for support is effective. Using a service ticketing system to create and track service tickets for all requests can significantly enhance customer satisfaction and reduce support costs for Treasury Management services.

Struggling with mastering treasury management service requests? Our treasury management training system fully explores handling TM service requests.