Home > Bill Pay, Online Banking > Dog Food Really Is Good For You

Dog Food Really Is Good For You

In the tech industry it’s called “dogfooding”.  Basically it’s when a company uses the products that it makes.  In the banking industry, it could be referred to as using the products a bank sells.

Most banks and credit unions offer online banking, bill pay, cash management and other online services to businesses.  Company executives and business services officers constantly extol the usefulness and ease of their electronic commercial services.  The question is, how many banks and credit unions use their own electronic commercial services?

Does Accounting use ACH to refund employees instead of cutting checks? Are e-bills used for credit card, power, water, security, telephone, etc. bills?  Are all these bills paid through online banking?  Are online payroll services used?  Are vendors paid through online banking?

I’m willing to bet that most banks and credit unions don’t take advantage of all the services they offer.  How can you get employees to use your services when the FI doesn’t even take advantage of what it offers?  More importantly, how can you sell a service that you don’t even take advantage of?  Do you not want the same cost savings that you claim your customers will get by using your services?  Especially given today’s environment where cutting costs and increasing efficiency are high priorities.

Photo from iPetNews.com

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Categories: Bill Pay, Online Banking
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