Thursday, April 23, 2015

What Small Businesses Want From Your Bank

Small businesses are key to the success of community banks.  Your small business strategy starts with understanding the needs of your customers, and what they want.  The PNC CFO account and digital website show the results of extensive research on small business needs, and what they want are two things:  better and easier payment methods and ensured access to credit.  The transaction and treasury services and access to credit are two sides of the same coin for the small businesses.



In addition to large banks like PNC, non banks are rapidly penetrating your customers.   Digital lenders and service providers are reaching out to partner with you to get  your customer relationships, but beware of what was said at the ALTLender conference recently:
Marketplace lenders may want banks as channel partners now for borrowers and investors in their loans. But once their platforms starts taking deposits, the gloves come off.”

A better solution for you is to implement your own digital payment services and lending platform like CashFlow Checking.  Let us show how our technology platform enables you to grow revenue from your key market segment:  small business.




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