Relationship Banking

Concept in financial services marketing whereby an account officer or Customer Service Representative tries to meet all of a consumer's needs, or to the extent permitted by regulation. Relationship banking is an attempt to advance the sales culture in bank marketing beyond order taking to a more pro-active form of direct selling. Instead of selling financial services one at a time, an account officer attempts to gain an understanding of the consumer's needs and offer services that fulfill those needs. Commercial banks and other financial institutions have attempted to apply the concept of relationship banking through Personal Banker and Private Banking programs. See also Platform Automation.