Machias Savings Bank Selects Vertical IQ and RMA to Bolster Sales Enablement, Underwriting The Maine-based bank extends access to Vertical IQ’s Industry Intelligence and adds RMA’s eMentor
RALEIGH, N.C. and PHILADELPHIA
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May 10, 2023 08:00 AM Eastern Daylight Time
Machias Savings Bank, named as one of the Best Places to Work in Maine and as one of the Best Banks to Work For in the U.S., has extended its relationship with Vertical IQ, a leading Industry Intelligence solution, and has added Risk Management Association (RMA), the leader in risk management tools and education, as a collaborator. This three-year collaboration will give Machias’s member branches full access to Vertical IQ’s platform for specialized call preparation and industry insights as well as RMA’s eMentor program and credit resources.
“We are excited to collaborate with Vertical IQ and RMA to deliver the most optimal industry research and credit analysis to our small business customers,” said Craig Saunders, Business Loan Underwriting Manager for Machias. “Vertical IQ’s easy-to-use and well-organized platform, as well as its actionable sales deliverables that can be shared at each stage throughout the business owner relationship, made it an easy choice to continue access for our users. And the collaboration with the eMentor program will help our team improve its underwriting and provide the necessary resources and best practices to stay top-of-mind with customers. These solutions work better together, so we are eager to get started.”
Covering more than 97 percent of the economic revenue in the U.S. and Canada, Vertical IQ’s Industry Intelligence provides users with a variety of call preparation resources and specialized industry knowledge from more than 920 industry profiles to instill confidence when meeting with clients. The expanded agreement with Machias provides Vertical IQ the opportunity to build on its relationships in the community banking space.
“Our agreement with Machias Savings Bank helps reinforce our strong, foundational relationships with community banks,” said Courtney Farfour, VP of Customer Success for Vertical IQ. “We believe this is a great fit because of our shared commitment to providing exceptional customer service, which is reflected through the actionable, convenient, focused and relevant industry insights our platform provides for Machias to share with their clients and connect with them on a deeper level.”
eMentor aims to maximize confidence and minimize risk in everyday decision-making, from conversations with customers to loan structuring. The collaboration with Machias will give the bank’s credit officers, analysts, administrators and other employees the critical information they need to improve their new loan underwriting, annual reviews, workout agreements and portfolio management.
“We look forward to providing Machias Savings Bank with our industry-leading risk management resources, which are updated continually to meet changing business dynamics and emergent challenges,” said Sandeep Kharidhi, RMA’s Chief Product Officer. “We strive to ensure all key team members are on the same page by connecting them to an extensive and reliable body of information wherever they work.”
For more information on Machias Savings Bank, visit www.machiassavings.bank.
About Vertical IQ
Headquartered in Raleigh, N.C., Vertical IQ is a nationally recognized leader in Industry Intelligence. Whether they’re pitching a local brewery or a national biotech company, successful sales, marketing and customer success teams use Vertical IQ to better understand a prospect’s or client’s business challenges before, during and after meetings. Covering more than 97 percent of the economic revenue in the U.S. and Canada through more than 920 Industry Profiles and 3,400 local economic reports, Vertical IQ equips users with the confidence and credibility to make memorable first impressions and sustain enduring relationships.
About Risk Management Association (RMA)
Founded in 1914, Risk Management Association is a not-for-profit, member-driven professional association whose sole purpose is to advance the use of sound risk management principles in the financial services industry. RMA promotes an enterprise approach to risk management that focuses on credit risk, market risk and operational risk. Headquartered in Philadelphia, Pennsylvania, RMA has 1,600 institutional members that include banks of all sizes as well as nonbank financial institutions. They are represented in the Association by 41,000 individuals located throughout North America, Europe, Australia and Asia/Pacific.
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