The strategic integration of banking products and services

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The strategic integration of banking products and services

Assignment Topics:The strategic integration of banking products and servicesPlease read the attached PDF files, which contains chapters: 5, 7, 8, 9, 10Chapter 5, sections 5.1 and 5.2Chapter 7, section 7.2Chapter 8, section 8.1Chapter 9, section 9.1Chapter 10: sections 10.1, 10.2, 10.3 and 10.4The focus on this assignment is on the strategic integration of bank products and services. You will be introduced to the various and diverse types of products and services that banks offer. You will also examine who is responsible for marketing and selling these products and services, the importance of understanding products and services in other areas of the bank, and, finally you will learn how different products and services produce revenue for the organization.Today there are new and innovative services being added to the mix every year as technology advances. This week, you will read about the products and services of banks. Later point, we will specifically examine SunTrust bank products, how to sell and market them and establishing a strong foundation of knowing what differentiates SunTrust from other banks and financial institutions.During client interactions, it is important for the bank employee to listen for sales queues that reveal opportunities for referring clients to another area of the bank. By not acting on client queues, teammates place the bank at risk by having customers look for alternative solutions at competitive financial institutions. For example, if a bank employee is servicing an existing client, and in the conversation, the client mentions that he has recently started a new business. This should alert the bank employee to ask the client some questions about the business:If the bank employee is not in a position to ask such questions, then, the bank employee should refer the client to the Business Banking department for further consultation. It is not a bank employees job to know all of the banks offerings, but it is the bank employees responsibility to know how to direct the client for additional opportunities. Consider this, what if the banker just let the comment go by and this customer has begun shopping around for business loans and business accounts. The bank could very easily miss out on this opportunity and worse; run the risk of this customer eventually taking his consumer business to the new bank helping him with his business. Making quality referrals is as important as making direct sales of your areas products and services.Its more comfortable to make referrals when you know who to call, thereby establishing a trusted advisor for both you and your clients. Your contribution to not only your area but other areas across departments is vital to the success of the bank.. Then develop responses to Assignment 6.1 questions. Be sure to cite your sources , using the APA guidelines to support your answers. You may also use few additional sources to support your answers.Read the questions and . In a Word document, respond to each of the 7 questions Assignment 6.1 questions: