Banks that are members of an association or collaborate to provide facilities to the public, for example banks that are members of the clearing house association and banks affiliated with the bank card system, such as Visa cards and International Master Cards basically, associate members have different classes in membership depends on capital ownership and other factors (associate banks). ”
Financial Fervices Authority
What is an Associative Bank?
The term “associate bank” is also used to describe banks that accommodate customers with each other across geographical or national lines when the geographical reach of each bank is limited. For example, a small state bank in the United States might have a partner relationship with a bank in London, to accommodate customers who travel there.
What Does an Associate Banking Relationship Do?
Relationship banking is a marketing approach that is widespread in commercial banks from all over the world. The premise is that the best prospects for bank services are existing customers, namely consumers, families and businesses that are already dealing with banks. Relationship banking and associates who work with consumers focus on cross-selling services .
Forms of Associative Bank Responsibility
Relationship banking partners will usually report to bank officers in areas dedicated to customer service. Relevant parties may assist officers in meeting with customers about new services. Then accompany the clerk on a sales call outside the bank, thus learning how to identify customer needs and make appropriate suggestions for available services.
Bank management usually expects banking partners to get to know the main functions of banks, such as credit, savings and investment products, and regulatory compliance issues. Related parties must learn how to be effective in cross-selling bank products and services to customers and will be responsible for broadening their understanding of how banks work to make good suggestions to meet customer needs.
