Twenty nine million small businesses currently operate in the U.S., and a major portion of these require financial solutions such as cash and credit management, trade financing, payroll processing and treasury services. Banks that have successfully targeted the small business segment earn better net interest margin (NIM) and return on assets (ROA) compared to banks who neglected the small business segment. The banks trying to gain a competitive edge and bigger share of the small business markets have to be cognizant of various behavioral, economic, regulatory and technological challenges. Banks need to design their product portfolio to match the requirements of the small businesses and also determine the best channel to deliver their products.
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To meet the high financial challenges, i.e. the cost of serving the small business owners, bankers are focusing on direct marketing. Acknowledging that the cost of serving new customers is almost 10 times the cost of serving existing customers, most small business bankers are involved in up-selling and cross-selling of services to the existing customers. The current economic environment has changed the landscape for small businesses. If banks want to succeed in this segment, they need to be better informed about small businesses wants and needs, provide the right product at attractive cost, and learn how to evolve their risk profile to accommodate a wider audience.
U.S. Small Business Banking Trends is a study of small businesses using banking products and the changing trends in small business banking. The study is designed to provide insights on the behavior and attitude of the small businesses towards the banking products offered by large as well as small banks.
Scope of the study
Analyst Briefing on Small Business Banking Trends in U.S. to be held on 23rd June 2010
The Banking and Financial services practice at MarketsandMarkets is pleased to announce its Analyst Briefing Presentation on Small Business Banking Trends in U.S.to be held on 23rd June 2010. The briefing on Small Business Banking Trends will benefit Banks, Non-banks and vendors offering banking solutions to this segment.
To register for this briefing, please click here
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