Chris McComish, chief banking officer, consumer and wealth management, at Chemical Bank, discusses Detroit's powerful comeback and the role his bank has played in relationship-driven growth and prosperity.
To improve their business banking efforts, banks need to segment the market, compile the relevant data, package and price appropriately and focus on customer service.
To truly capitalize on the small business market, institutions need to transform the position of small business banker from lender into all-around business management expert.
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.