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Having abandoned small business banking in recent years, many institutions are returning to the segment, prompted by both market opportunity and regulatory prodding.
Achieving success in small business banking requires combining retail and commercial capabilities into a package that effectively serves the needs of these customers.
While small businesses may not be seeking many loans these days, they still need behind-the-scenes payment and security services.
Lenders are able to lend more cost effectively and at a lower risk as technology increases the amount and quality of information available about small businesses.
Turning an indifferent small business prospect into a new and satisfied client requires several key best practices, such as being clear about your value proposition.
M&T Bank’s Sam Guerrieri says growth can still be generated from small business customers if the bank can service all facets of the relationship.