Thursday, November 8, 2012
CAPTURING THE SMALL BUSINESS TM OPPORTUNITY
This is one of the best opportunities we see to boost small business fee income. While small business is already a robust TM market, with approximately 15% of TM revenue from companies with less than $10MM sales, most banks aren't getting anyway near their fair share. SmB segment TM revenues can be lucrative, from $1K – 4K+/year, depending on business complexity and size. Research shows that up to 65% of companies use TM in some segments, but only 30% are using TM with their primary bank.
In this session, attendees will gain insights from a successful bank approach and a successful non-bank approach to Treasury Management for small business. Attendees will also benefit from Novantas’ comprehensive proprietary research survey with businesses (conducted with Greenwich) around their usage of TM products, client buying behaviors (selection factors, sales & service channels, incl. branch, bank vs. non-bank preferences, etc.) and successful approaches