Bankers ask, ‘How can we jump start branch organic growth?’ Start by examining where it will come from and what it takes to capture it.
In their quest for more small business lending, bankers should take a closer look at their baby boomer customers as a source of growth.
To make small business relationships pay off, bankers need all three elements of the customer connection: business, personal and wealth management.
Banks looking to increase small business opportunities need help identifying the linkages between some consumers and the small businesses they may own.
Issues of organizational structure and reporting lines need to be resolved if banks are to get the most out of their small business banking efforts.
Banks have the opportunity to nearly double their business banking profitability by digging deeper into small business sub-segments to find unmet needs.
With small business customers increasingly dissatisfied with bank products and services, bankers should investigate more non-traditional offerings such as generating invoices or hosting Websites.
Small business banking efforts are often typically hampered by organizational failures, lack of innovation and the fear of regulators.