How can you improve your listening skills when dealing with bankers?

Listening skills are essential for effective communication and negotiation in any field, but especially in banking, where you may deal with complex financial products, sensitive customer information, and high-stakes transactions. Whether you are a banker or a client, improving your listening skills can help you build rapport, understand needs, avoid misunderstandings, and achieve better outcomes. In this article, we will share some tips on how to improve your listening skills when dealing with bankers.

1 Prepare before the conversation

Before you engage in any conversation with a banker, make sure you have a clear purpose and goal in mind. What do you want to achieve from the conversation? What information do you need to provide or receive? What questions do you have or expect? Preparing beforehand can help you focus on the main points and avoid distractions. It can also help you anticipate potential challenges or objections and prepare your responses.

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Christine Pechayco, PSM ✅

Communications leader with 15+ years creating successful programs. Aims to raise awareness, drive adoption, and inspire action. Specialize in executive advising, message alignment, change management, and team leadership.
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To presume that all bankers are one way is an overgeneralization. In fact, they come in all shapes, colors, personalities and communication styles-- like the human population. As such, extend common courtesy to your fellow humans by preparing before any conversation. - Focus your thoughts - Know your goals from the conversation - Have information ready If at all possible write down what you'd like to discuss and share it with you your banker. Doing so could save you both some precious time.

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2 Use active listening techniques

Active listening is an essential skill that involves paying attention, showing interest, and providing feedback to the speaker. When you use active listening techniques, you demonstrate respect for and value the banker's input, and you encourage them to share more. Paraphrasing, summarizing, asking open-ended questions, and reflecting feelings are all techniques that can be used to show active listening. Paraphrasing involves repeating or rephrasing what the banker said in your own words to check your understanding and show that you are listening. Summarizing highlights the key points or main ideas of what the banker said to confirm your comprehension and move the conversation forward. Asking open-ended questions requires more than a yes or no answer to elicit more information or clarification from the banker. Finally, reflecting feelings acknowledges or mirrors the emotions or tone of the banker to show empathy and rapport.

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Christine Pechayco, PSM ✅

Communications leader with 15+ years creating successful programs. Aims to raise awareness, drive adoption, and inspire action. Specialize in executive advising, message alignment, change management, and team leadership.
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Bankers want to be heard too. You listen to what they say like you would to any human being. Every now and then, bankers might say something you don't understand; take notes, especially of terminology that you don't understand.Ask for clarification later in the conversation. Summarize what you think you heard. Confirm your comprehension of due dates (if applicable), needs, criteria (of loan approval). Besides wanting your business, bankers also want a banking relationship with you, if not now, in the future. Try to have conversations as amicable as possible because you might need each other in the future.

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3 Avoid common listening barriers

There are many factors that can interfere with your listening skills and affect the quality of the conversation, such as distractions, prejudices, interrupting, and jumping to conclusions. External noises, interruptions, or multitasking can divert your attention and make you miss important details or cues. Personal biases, assumptions, or stereotypes can influence how you interpret or react to what the banker says and create misunderstandings or conflicts. Cutting off the banker before they finish their sentence or thought can show disrespect, impatience, or arrogance and prevent you from hearing their full message. Making hasty judgments or decisions based on incomplete or inaccurate information can lead to errors, missed opportunities, or regrets.

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4 Follow up after the conversation

After the conversation with the banker, it is important to follow up and reinforce what was discussed and agreed upon to ensure both parties are on the same page. Sending a thank-you note is a great way to express your appreciation and gratitude for the banker's time and attention, which can help build trust and goodwill. Additionally, reviewing the action items, summarizing the main points, outcomes, or next steps of the conversation, and confirming who is responsible for what can help track progress and accountability. Lastly, seeking feedback on how the conversation went and how you can improve your listening skills can help you learn from your experience and enhance your communication and negotiation skills.

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Christine Pechayco, PSM ✅

Communications leader with 15+ years creating successful programs. Aims to raise awareness, drive adoption, and inspire action. Specialize in executive advising, message alignment, change management, and team leadership.
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I came from a bank that valued business etiquette from the most junior to the most senior levels. We brought in professionals who only taught that. I, myself, learned to pass the bread basket to the left. Naturally, writing a thank-you note to express your appreciation for a meeting was always deemed appropriate.

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5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you improve your listening skills when dealing with bankers?

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1 Prepare before the conversation

2 Use active listening techniques

3 Avoid common listening barriers

4 Follow up after the conversation

5 Here’s what else to consider

Banking Relationships

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