Medical Chronicle May 2017 | Page 14

NEWS MERCANTILE’S PRIVATE PRACTICE FOR HEALTHCARE PRACTITIONERS There are many facets to running a healthcare practice. Doctors in private practice are, in essence, entrepreneurs. It’s imperative for healthcare practitioners to find the right kind of daily business support while they concentrate on growing their practice and their brand. Karl Kumbier, CEO of Mercantile Bank, explained the new offering tailored for doctors. “We understand that a lot goes into setting up a practice - from the property rental, financing equipment, to a PABX system and cashflow to pay staff. This would usually mean that the doctor would have to deal with a business banker, then an asset finance banker, someone from property finance, and more, to meet the needs of a new business. To us, healthcare professionals are also true entrepreneurs, and therefore deserve to be treated as such. We like to grow entrepreneurs and take their business to next level said. This ensures multi-faceted, yet personalised banking. This frees up healthcare professionals to concentrate on running their practice, while the bank helps them with the business side of growing the practice. BENEFITS “Mercantile will also finance commercial properties and provide our clients with a business term loan. Our application process has also been streamlined to make everything faster, easier and more convenient. For example, if all correct documents are provided, we aim to give the applicant a credit decision within 24 hours.” The business credit card is linked to a loyalty programme, with rewards ranging from buying coffee to a holiday. Private practice account holders are entitled to access at any airport lounge in SA that has a Bidvest Lounge facility. On the free internet banking platform, users can view both personal and business profiles together. Online beneficiary payments and transfers between accounts are free. UNDERSTANDING ENTREPRENEURS Kumbier sees SMEs as a market that has not been well serviced. He emphasised, “To us, healthcare professionals are also true entrepreneurs, and therefore deserve to be treated as such. We like to grow entrepreneurs and take their business to next level.” “We don’t lose customers. Dealing with someone who understands what goes into running a business takes a massive burden off our clients. Mercantile has catered to entrepreneurs for 50 years.” Mercantile has been rated number one in service for business banking for three years in a row as per the annual Consulta survey. Karl Kumbier, CEO at Mercantile Bank Business benefits offered include: Competitively priced private practice business current account with credit card linked to loyalty programme and credit interest paid on both ONE DEDICATED PRIVATE BANKER “The Private Practice offering means that you would deal with one person, for all banking requirements. From personal banking, internet banking, getting a credit card machine, to rental solutions. There is one dedicated private banker to look after everything.” Kumbier clarifies that the Private Practice offering is linked to Mercantile’s Private Bank division. “As such, clients will be given a dedicated Private Practice Banker to look after all their private banking needs,” he 14 MAY 2017 | MEDICAL CHRONICLE Black credit card, which includes a loyalty programme Financing - home loans, vehicle and assets; commercial property, business and personal term loans Investments Wealth management Insurance - for all insurance needs Leasing Merchant services – point of sale device and loan.