As a bank, getting into the leasing business gives you the ability to strengthen your client relationships even more. Handling leasing would allow you to offer your clients a broader suite of services, resulting in more account control. You would be able to serve your clients over a wider spectrum of their business life cycles.
The fuller suite of services you can provide also gives you greater protection of your target markets and territories, leaving fewer “side doors” for competitors to enter. As a bonus, leasing gives your bank an additional way to deploy idle cash assets.
Those are all great reasons for offering leasing services, but then you probably saw that it results in taking on more overhead and expanding your operations team. How do you build the infrastructure to handle the regulatory and compliance requirements of the leasing industry? The sales/property tax reporting requirements alone can make your head spin.
Wouldn’t it be great to offload the back-office operational and regulatory details of leasing to a team like ELS? Then you could get back to focusing on making your client relationships stronger than ever.