Modern Differentiators: Exceptional Experience & Relationship Management
Throughout history, most financial institutions have viewed loans as commodity products. Pricing and distribution — the economics of the selling model — have been the primary differentiators when bringing loan products to market.However, according to Richard Wada , Chief Lending Officer at Patelco Credit Union, there’s a huge opportunity to differentiate through exceptional experience, and more importantly, through strong relationship management throughout the borrower life cycle.In this episode, he highlights why it’s such a powerful play.We discuss:- How solid relationship management can be a competitive advantage- Promoting the financial health and well-being of members- How referrals can drive deeper product engagement than traditional acquisition- Having access to members versus self-directed engagementWant more lending advice? Find us on Apple Podcasts, Spotify, and here.Listening on a desktop & can’t see the links? Just search for Leaders in Lending in your favorite podcast player.