Think Firm Finds Small Business Offerings Big Business for Small Banks
BOSTON -- Credit unions eyeing the small business market aren't alone.
A new report from Aite Group says 80% of 207 community banks surveyed by the Boston-based research and advisory firm say they recognize a need to provide solutions for business banking and are giving it more focus.
Meanwhile, 30% say that deploying new online cash management and business banking solutions in the next three years is a top priority, according to the report prepared in cooperation with the Independent Community Bankers of America.
"The future of community banks depends largely on their ability to meet the demands of the business community," says Christine Barry, research director with Aite Group and author of the report. "Businesses, both large and small, demand robust online banking capabilities and business-specific banking solutions."