Business banking options from Alaska banks and credit unions: solutions for businesses of all sizes found in products and services.

• Author: Barbour, Tracy
• Position: FINANCIAL SERVICES

Financial institutions in Alaska offer a plethora of commercial banking options, ranging from standard checking and savings accounts to online solutions to help businesses maximize their resources. Here is a brief synopsis of the innovative, educational, and other practical solutions available from some of the banks and credit unions operating in Alaska.

First National Bank Alaska

First National Bank Alaska offers a full menu of products and services for businesses of all sizes, from small mom-and-pop shops to large corporations. And, unlike what most other local banks provide, First National also offers a variety of escrow services. A popular aspect of its escrow services involves owner-financed property, especially real estate, according to Taka Tsukada, Vice President Cash Management and Anchorage Branch Administration Manager.

Whether the transaction entails a house, mobile home, vehicle or other property, the bank's escrow department can act as a payment-processing intermediary between the two parties. The department can also work closely with landlords and property management firms to collect rent payments. "It's convenient because it can be complex to track the receipt of funds and be able to pay those out," says Tsukada. "It's an area that First National provides relatively unique to the market."

Over the years, First National has continued to evolve its business banking options to keep pace with new regulations, customer requirements, and the competition. ONEPay, the bank's recently-released, next-generation payment tool, is a prime example. It gives customers an intuitive, easy-to-use interface for completing wire and automated clearing house (ACH) transactions at their convenience. In addition, customers can input transactions forty-five days in advance, allowing for even greater flexibility. "We're really excited about how well that's been received," Tsukada says.

First National is also pleased to be able to extend valuable educational opportunities through its customized, locally-provided fraud seminars. "We're very proud of the fact that we're able to have Alaskans work with Alaskans," Tsukada says.

Tuskada says First National is always listening to its customers' needs. Since more and more people want the flexibility to bank whenever and however they want, the bank will be focusing on some of the more mobile-based services in the near future, he says.

With thirty branches and a nearly one hundred-year history, First National is fully vested in Alaska, Tsukada says. "We measure our success based the success of our customers, both on a business and consumer level," he says. "We're always looking for ways to be able to add value to our customer relationships."

KeyBank

In addition to providing a comprehensive suite of services, such as checking, savings, online banking, and business credit cards, KeyBank offers Key Total Treasury. The robust online platform provides clients with various efficiencies through ACH transfers, wires, comprehensive reporting, and fraud prevention tools.

"We also have a lot to offer our clients that is specific to the healthcare industry, as we are educated in the revenue cycle for faster collection and posting of payments to patient accounting systems, A/P automation as it relates to healthcare payments," says Tracey Thomas, commercial banking relationship manager for KeyBank in Alaska. "We are continuing to strive to update and build on our existing services to accommodate the ever-changing healthcare marketplace to stay relevant to...