BAI Banking Strategies Executive Report:
Small Business Banking: On Target For Growth?
It’s a well-accepted truism that small business powers job growth in the U.S. Bankers are also coming to realize that small business can help power their profits once this sector kicks into gear. As a recent BAI Research study pointed out, “when it comes to institutional loyalty and share-of-wallet value, small businesses rank among the best customers a bank can have, making them well worth the extra effort to serve.”
The key is to service small businesses in a cost-effective manner. The “extra effort to serve” required by these customers has to do with several factors, including the fact that underwriting small business loans can be as time-intensive as for larger commercial loans but for smaller dollar amounts; small businesses customers often have industry-specific issues not easily handled by generalist bankers; the geographic dispersion of small business customers makes them hard to reach; and the branch-centric nature of these customers can pose a difficulty when banks are trimming their branch networks.
This BAI Banking Strategies Executive Report entitled “Small Business Banking: On Target for Growth?” is designed to help financial institutions serve small businesses more effectively and be ready when robust growth returns to this customer segment.
Articles in this Executive Report include:
Best Practices for Training Small Business Bankers
Effective training is the key to making small business bankers more productive as lending to that important sector heats up.
Delivering Value Cost Effectively to Small Business Owners
By proactively helping small business owners identify and address likely challenges their business will face, banks can improve customer loyalty without high costs of delivery.
Tablet Banking for Small Business
Even as small business owners flock to tablet banking, banks need to make sure the experience is modified appropriately for their needs.
Small Business Mobile Remote Deposit Capture: Cracking the Code
The small business segment—a largely untapped market with banking preferences, check volumes and business needs suited for mRDC—has captured the attention of banks.
Small Business Acquisition Loans On the Rise?
While still at modest levels, acquisition lending for small businesses is likely to increase with the improving economy.