Grow Your Loan Portfolio with A Loan Pricing Tool

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Competition for “A” rated commercial loan customers is tough in many markets and a loan pricing solution might be the answer to win more deals. How many times has your financial institution lost a loan customer or have been told that “I can get a better deal down the street or from Farm Credit”. It doesn’t have to be that way.

Pricing loans that meet your profitability target can come with many different strategies that meet the borrower’s needs as well. What is the interest rate; what is the term; is it an adjustable or fixed; are there fees involved or not; what about deposits the borrower may have and are they interest bearing or in a operating account; does the borrower have other business with you. Why not give your prospective customer several choices that have the same financial result to the bank?

I have heard about everything…that our bank is “too small” or “Farm Credit’s interest rates are way too low” or “we can’t compete with the larger regional banks on rates”. Really? Why not look at a loan pricing tool that will help you price loans based on the entire banking relationship including other loans and related deposits. They are easy to use, easy to implement and your lending officers will like the flexibility they afford.

Start competing for larger loans, make smaller loans more profitable and get a handle on who your best customers are from a profitability standpoint…they are likely NOT the customer who has multiple loans with you as most lenders think.

To grow your loan portfolio by winning more deals contact Strunk at 800.728.3116 or info@strunkaccess.com to learn more about Strunk’s affordable loan pricing solution.

Spotlight On: FINSYNC

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FINSYNC is the only all-in-one payments platform that helps businesses get all their finances in sync, centralize control of cash flow, and get in sync with the right financial professional at the right time.

Grow in new and empowering ways when you combine innovative software with unmatched services.

FINSYNC’s payments platform helps businesses centralize control of payments, automate accounting, process payroll, and manage cash flow, and connect with members of the FINSYNC Network for banking, financing, accounting and insurance needs.

In his most recent annual shareholder letter, Jamie Dimon, JP Morgan Chase’s Chairman and CEO, called out the fact that software companies becoming banks themselves is an enormous competitive threat to our industry.

The threat is not new or news. The bold terms, however, coming from the largest bank with presumably the largest software development budget, make it worth every other community financial institution taking notice and action.

At Strunk, we want to help you to act and within your own budget. This is why we are calling out a special vendor we have been following. FINSYNC is helping financial institutions of all sizes compete for commercial/business relationships and win. Their program is not only unique on that basis alone, but it requires no upfront investment or integration and can deliver a quick return on time.

  • No cost to you
  • Acquire more customers
  • Increase revenue
  • Improve retention

FINSYNC helps financial institutions counter the threat that is now Intuit’s QuickBooks becoming a bank, which is by itself an enormous competitive threat to the all-so-important relationships you have with your business customers.

According to Dan Roderick, Strunk CEO, “The FinTech threat facing our industry is all too real. In my 40 years in banking I’ve never seen anything that has created a risk of this magnitude. Strunk is in the unique position of being able to bring solutions to our clients that will help community FIs combat the FinTech challenge.”

If you have not already partnered with FINSYNC or considered their program, please be our guest. We see this as a huge value to all of our clients and so we’re sponsoring a series of webinars so that you can learn more. Simply click here to sign up for a session that suits your schedule.

For more detail on the FINSYNC product please click here or email us at info@strunkaccess.com.

An independent certified public accountant has examined Strunk’s operations and found them to be in compliance with the AICPA’s Trust Service Principles. It was determined that Strunk meets the Security, Availability, Processing Integrity, Confidentiality, and Privacy criteria for SOC 2 established by the AICPA.