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Small and Microbusiness Banking Online 4.0 Oft-overlooked segment is lucrative online opportunity
Author
Jim Bruene
Published
Jun. 30, 2004; OBR 107/108
Pages
72
Format
Printed, PDF or Word
Size
2.4MB
Table of Contents
Click the following icon to download the Table of Contents:
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Abstract: Main Report:
With more than $2 trillion in assets and liabilities up for grabs, the small business market remains attractive to financial institutions of all sizes. This report focuses on the online channel and how it can be used to improve profits and market share in the small business market, especially the smallest companies, the 6+ million so-called microbusiness with annual revenues less than $1 million. But that’s just the tip of the iceberg. If you include all the home-based businesses, self-employed, contractors, independent sales agents, brokers, and those actively looking to launch a business, the number of “business oriented” households approaches 30% of all U.S. households.
Other highlights:
- Barclays Bank win an “OBR Best of the Web 2004” for its startup-focused small business area
- PNC Bank and NetBank are poised to win small-business market share by accepting paper check deposits remotely via a scanner attached to the user’s PC
Companies mentioned: Alogent, American Express, Bank of America, Bank One, Barclays Bank (UK), Citibank, Fidesic, Fleet, Google, Intuit, iPay LLC, Javelin Strategy & Research, NetBank, PayPal (eBay), PNC Bank, SunTrust, US Bank, TNS Financial Services Group, Wachovia, Washington Mutual, and Wells Fargo
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