Small businesses are more sophisticated and technologically savvy than ever, yet most banks have not evolved their strategies to meet the new needs and demands of this important customer segment. Additionally, bank product bundles have not broadened to address customer challenges leaving them vulnerable to competition from third-party vendors, as their customers view bank websites as solely a place to check balances and transfer funds. Gaps in bank offerings are resulting in small businesses going elsewhere and missed opportunities for banks to earn much-needed revenue.
Now is the time for banks to begin addressing their vulnerabilities in the small business space and proactively offer the tools necessary to improve customer satisfaction, address customer challenges, and increase the utility and breadth of their online banking platforms. By adopting a centralized "hub" model through which various partner solutions are offered in a single location, banks are able to speed innovation, deepen customer relationships and most importantly, keep customers on their site for additional cross-selling and value-added services.
This complimentary webinar, sponsored by Yodlee, Inc, brings industry experts together for a presentation on the products and services small businesses are most likely to go elsewhere for, how banks can stop this trend, and what banks need to do to enjoy greater success in the small-business market.
Panelists include: Christine Barry, Research Director at Aite Group who will share the results of Aite Group’s latest small business survey that will give you insight into the questions above and will be joined by Greg Wedell, Practice Manager, Small Business at Yodlee.
Christine Barry serves as research director for Aite Group's Wholesale Banking practice, focusing on the strategies and technology implementations of global banks of all sizes. Her recent research has addressed global cash management trends and technologies, capturing the valuable small-business customer, corporate mobile banking, the drivers of global core banking system replacement, remote deposit capture, and best practices for community banks and credit unions.