To our clients, partners and friends:
As a private banking institution, it is our duty to do right by our employees, clients, investors, community and regulators, and we have dedicated hundreds of millions of dollars to ensure those stakeholders retain an opportunity for success.
We a proud to be able to invest our earnings back into our team, clients and technology. One of our current efforts to transform the banking space is to automate the processes within our Payments Solutions Department following our nearly 50% growth in processing volume year over year. We are implementing an automated workflow that will streamline merchant on-boarding and underwriting, and maximize resource utilization to get clients processing payments faster. The department is also working hard on adding highly sought after products to its offerings in 2022.
Our client experience and banking teams are also working on an new solution to offer clients next year. As part of our suite of CBCash solutions, all clients will have immediate access to the Real Time Payments Network beginning in Q1 2022. This means businesses can receive payments faster.
There is a lot of growth on the horizon for us. We are expanding our team in multiple departments to meet client growth, new innovation opportunities and an increase in funding SBA loans to businesses in need.
We continue our commitment to support and protect our employees, clients, investors, community while achieving high standards set forth by our regulators and auditors. We continue to be champions of truth, prosperity and sustainability and are excited for what’s in store for 2022.
Have a wonderful holiday and happy new year,
President & CEO, Chairman of the Board
Commercial Bank of California