Banks that expand their cash options provide a valuable service to the unbanked and underbanked—and attract new business.
Success in small business banking requires taking it seriously, paying for performance, focusing on deposits, building partnerships and learning to cross sell.
As commercial banking becomes more important to institutional profitability, bankers need to develop comparative benchmarks in this area similar to those used in retail banking.
In order to originate small business loans profitably, banks need to increase cross sales, improve internal systems and/or partner with alternative lenders.
Serving small businesses effectively requires business practices, organizational constructs, and value propositions targeted to this particular market segment.
Small business lending requires a strategy that enables you to clearly define and measure success.
Banks that want to participate in small business lending should understand how asset-based lending differs from uncollateralized consumer lending.
Banks that have been innovative in designing new products for small businesses say they first ascertain the real needs of those customers.