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Strategy Primer for Commercial Banks Servicing Small Businesses in the Age of the InternetProduct Type: Market Research ReportPublished by: TowerGroup Published: January 2001 Product Code: R301-689 Description The small business segment (firms with annual revenue of less than $10 million and fewer than 100 employees) is the largest segment in the US, with over $5 trillion in sales receipts and over $1 trillion in payroll. Banks face unprecedented competition from both banking and nonbanking institutions that seek to lure small business clients with a smorgasbord of products and services. Most banks use their existing commercial or retail product lines to service small business clients, but these lines will not suffice in the future. To attract small business, banks' offering must go beyond deposit and credit.
Table of Contents HighlightsIntroduction Background The Opportunity is Big Opportunities: Beyond Credit and Deposit-Based Products Small Business Services: Banks and Nonbanks Charge Ahead Business Strategy IT for Servicing the Small Business Conclusion |
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