The small and medium business segment is becoming more sophisticated in their banking behaviors and their demand for banking and financial management products is growing. Smaller businesses needs provide banks an opportunity for growth and revenue generation. However, relatively few small business customers are extremely satisfied with their bank and in some cases are moving to third party financial service providers for their needs. Banks have not been able to effectively identify, acquire, and monetize the relevant small business customers and seize this growing opportunity.
Bottomline’s business banking growth solution provides financial institutions insights and tools to make the most of the small and medium business opportunity. State of the art online account opening solutions work on the devices small and medium businesses prefer, thus helping improve application and close rates. Data driven analytical tools allow financial institutions to better understand business customers and then define strategies and marketing campaigns to migrate them onto the right platform, sell relevant products, and solidify the ongoing relationship, ensuring that the financial institution remains the depository of choice among the key segment. Financial management solutions specifically designed for SMBs allow banks to help their customers manage their business performance and save time.