SUCCESS STORY: LAKELAND BANK

See How Lakeland Bank Leans into the Future with Vertical IQ

Challenges

Relationships with business owners are essential to Lakeland Bank whose staff adheres to the philosophy that they live and work in the communities they serve. They’ve built a strong reputation and brand loyalty with deep community involvement, superior customer service, and the physical presence of friendly staff.

Lakeland Bank has a high concentration of commercial real estate dependent loans and would like to diversify its portfolio to include more owner-occupied, Commercial and Industrial (C&I) customers.

Yet, the next generation of business customers rarely step into a brick-and- mortar bank — and the COVID-19 crisis has taken face-to-face meetings and handshakes off the table for now. Staying connected with business owners in this rapidly shifting landscape takes more planning, insight, and flexibility.

“Our bankers have to be chameleons to match the unique requirements of the customer they are serving at the time,” said Ken Bostwick, Senior Vice President & Director of Retail Sales for Lakeland Bank. “The question for Lakeland is always; How can we help our advisors connect with businesses of all sizes and types with various demands and desires?” The answer for Lakeland was Vertical IQ.

Solutions

Vertical IQ is now embedded at Lakeland Bank, helping advisors accelerate discovery, prospecting, and relationship building. Detailed insight into a wide array of industries helps generalists identify current client challenges, then match and solve them with Lakeland’s products and services. Industry Profiles with quarterly alerts keep bankers apprised of market changes that could impact clients — boosting confidence and serving as an outreach reminder and value-add that can be forwarded to customers.

“Vertical IQ fits Lakeland Bank’s strategies and philosophy for targeting prospects in an intelligent manner and building great relationships with our customers,” said Karen Garrera, Executive Vice President and Chief Retail Officer of Lakeland Bank.

Vertical IQ is available to Lakeland bankers on their desktops and via a mobile app accessible on any device, so the Industry Intelligence they need is always just a click away. “The industry insight available through Vertical IQ helps Lakeland representatives talk intelligently on business calls, promote the solutions we offer, develop relationships, and deepen trust with clients,” she said.

Lakeland Vice President and Business Banking Officer Jason Rivera agrees. “Everything you need to prepare for a call and deliver real value is easily accessible with Vertical IQ, so you can ask key questions or share trends specific to the customer, even if you’re not familiar with their industry,” he said. “By using Vertical IQ, I have much deeper insight about my prospects’ and existing customers’ concerns — so I can explain exactly how Lakeland can help them with working capital, financing, a line of