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In this research note, Deepening Customer Relationships with Small Business Banking, Mercator Advisory Group reviews why and how financial institutions are expanding their outreach to this important customer base.
“With today’s banks and credit unions striving to find new ways to increase revenues and boost profitability, the topic of small business banking is increasingly top of mind for these financial institutions,” comments Ed O’Brien, director of Mercator Advisory Group’s Banking Channels Advisory Service and author of the report.
This research note is 9 pages long and has 4 exhibits.
Members of Mercator Advisory Group Banking Channels Advisory Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.
One of the exhibits included in this note:
(Click to Enlarge)
Highlights of this report include:
- Market size and composition, suggesting the important role that small business customers can play in the financial institution’s revenue mix and their contribution to overall profitability
- The potential lift that small business banking can provide as FIs seek additional revenue sources to offset losses in fee income from their retail banking operations
- Common value-added banking products and services that can fill the wide variety of needs of small business banking customers and become revenue streams and opportunities for greater engagement
- Recommendations for ways to serve this market and deepen customer relationships