• Business correspondence (BC) are intermediaries, often referred to as “agents” or “distributors,” who work on behalf of the bank to market and sell banking financial products to customers. Here are some key points about this type of business correspondence:
  • Product Promotion: Banks either directly or through intermediaries use BC services to promote various banking financial products to potential customers. This may include circulating brochures, flyers, emails, or letters explaining the features, benefits, and terms of the products.
  • Processing of application and enrollment Forms: When a customer expresses interest in a particular financial product, the BC facilitates the completion of application and enrollment forms.
  • Despatch of agreement Letters: Upon successful application and approval, the BC sends agreement letters to customers, officially confirming the enrollment in the chosen financial product and detailing the terms and conditions.
  • Handling customer Inquiries and Support: BC handles customer inquiries and provide support related to the financial products of their clients. This communication can occur via email, letters, or phone calls.