Relationship managers’ roles are evolving along with banking tech

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As banking technology continues to evolve, relationship managers remain an important part of how financial institutions support commercial and business clients.

We asked Kevin DiGiacomo, senior vice president, commercial lending team, at Canandaigua National Bank & Trust, how the role is changing and why personal connections still matter.

How has the role of the relationship manager evolved in banking over the past several years?

What we do has not changed. How we do it has changed. Our role continues to be to manage client relationships, be a trusted advisor, and offer customized financial solutions. Technology has changed how we do our job.

In what ways?

We have more ways to communicate, for example texting is often more commonly used than calling. Technology has helped clients to be more informed both about what is happening inside their company as well as what is happening in the overall market. This enables us to engage more strategically, preparing the business for the future as opposed to just being reactive. Technology has helped us as bankers be more efficient in our roles as well through access to client and market information.

In an increasing digital banking environment, why are personal relationships still important for commercial and business clients?

Personal relationships are critical because they foster trust, accelerate decision making, and enable tailored financial solutions. These relationships allow bankers to understand a business’s individual needs, leading to faster, more flexible loan approvals, improved service, and customized solutions. Additionally, most businesses will experience challenges at some point during their life cycle, and a personal relationship encourages open communication which leads to more proactive solutions.

What qualities or skills make an effective relationship manager in today’s banking landscape?

Effective relationship managers have strong financial acumen and good interpersonal skills. They proactively engage with clients, are comfortable asking questions, are good listeners, are analytical, and are creative problem solvers.

What makes your organization’s relationship managers unique?

We are fortunate that we have relationship managers who are very experienced, have worked with businesses in just about every industry, and know how to structure loan requests to provide owners with the capital they need to continue to grow their businesses. We have a strong, long-standing organization to support their efforts in serving the businesses in our community. Additionally, our relationship managers have a passion for helping people and businesses achieve their goals. Whether we can help them directly with financing, indirectly by introducing them to a community development organization or economic development agency to take advantage of their programs, or by referring them to another company who may need their product or service.

Caurie Putnam is a Rochester-area freelance writer.