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Recent Analyst's Journal Articles:

Sep

11

2019

Analyst's Journal

U.S. Bank Takes Top Loyalty Score Among the Top 10 Small Business Banks

By Emily Cade

In Barlow Research’s most recent rolling eight quarter data (3Q2017-2Q2019), U.S. Bank has pulled ahead in leading the small business ($100K-<$10MM in sales) Top 10 banks’ loyalty scores...

Sep

4

2019

Analyst's Journal

Bank of America Executes on Convenience Banking with Order Ahead Capabilities via Mobile App for Small Businesses

By Youa Yang

There is one dominant digital banking trend for 2019 that financial institutions in the marketplace are hard at work at, that is, the trend for convenience banking. The concept of convenience banking for businesses is simple; make it as easy as possible for the customer to do what they need to do so they can get back to running their business...

Aug

28

2019

Analyst's Journal

The Key to a Business Referral Is Delivering Great Service and Being Proactive

By Emily Anderson

Referrals are one of the best compliments to receive from a customer. It affirms that your financial institution is meeting customers’ needs and that they are satisfied with the relationship. In the Barlow Research latest rolling four quarter data for the small business segment ($100K-<$10MM in sales), 78% of companies agreed strongly or somewhat that they would refer a company with similar needs to their primary bank. In the middle market segment ($10MM-<$500MM in annual sales), 84% agreed strongly or somewhat. This indicates that most companies are willing to refer their bank to other companies like themselves...

Aug

21

2019

Analyst's Journal

Zelle® for Small Business Is Now Available in the Marketplace

By Allison Haley

Since the launch of Zelle® in 2017 as a consumer payment system, the market has been patiently waiting to see Zelle® become available to small business customers. This is finally becoming a reality, as Zelle® for small business has been rolled out at several top financial institutions. Of the 15 financial institution’s online and mobile platforms that Barlow Research analyzes in the Digital Business Banking Test Drive, there are four that currently offer Zelle® to small business customers: Bank of America, Chase, Regions Bank and U.S. Bank...

Aug

14

2019

Analyst's Journal

Fastest Growing Products in the Middle Market Banking Segment

By Donna Arce

At Barlow Research, we currently track usage of 29 different products within the middle market banking segment (companies $10MM-<$500MM in annual sales). Categories of services include cash management and deposit services, credit services, corporate finance services, card products and other services which includes international and retirement products. In addition, we capture the product usage at the primary bank vs. other providers...

Aug

6

2019

Analyst's Journal

To Improve Overall Bank Satisfaction, Get the Basics Right First, Then Tailor Your Approach Based on Sales Size

By Sandy Hanson

Year after year, when we conduct our driver analysis, brand comes out as the largest predictor of overall satisfaction in small business ($100K-<$10MM) banking. As the graph below shows, regardless of sales size, brand (or the attitude and opinion items), collectively explains about 90% of the variation in overall bank satisfaction. The channels as a group, only explain about 10% of the variation. While regardless of sales size, it is the brand of the...

Jul

31

2019

Analyst's Journal

Convenience in Small Business Banking Today

By Emily Cade

Digital transformation inherently impacts small companies’ ($100K-<$10MM in sales) expectations of how they want to run their businesses and the service they desire from their financial institutions. While this has made banking more convenient, there is more to it than just digital. Barlow Research recently asked a question to our Flash Panel: “How has the meaning of a bank ‘being convenient’ changed in the last five years?” The two most frequent responses, shown in...

Jul

24

2019

Analyst's Journal

Generating Core Deposits Requires Targeted Sales Strategies

By Joel Mueller

Increasing business deposits has been a topic weighing heavy on the minds of many financial institutions recently. This appears to be a function of three things: interest rate fluctuations, the proliferation of online-only high-yield deposit products and stagnating deposit growth. Many signs point to a rate reduction on July 31st, which would mark the first time rates have been cut since the financial crisis. By design, rate cuts aim to disincentivize saving which...

Jul

17

2019

Analyst's Journal

The Time Is Now to Optimize How Digital and Physical Bank Channels Service Business Banking Customers

By Youa Yang

Digital business banking has reached the tipping point in the marketplace. Barlow data tells us very clearly that small businesses (annual sales of $100K-<$10MM) are comfortable interacting with their primary bank through digital channels and have become increasingly active in both online and mobile banking. In fact, according to Barlow’s 2018 small business banking data, digital channels make up of over 60% of the 23.7 total monthly touches a typical small business customer makes...

Jul

10

2019

Analyst's Journal

The Small Business Credit Journey Continues to Be Far from Frictionless

By Emily Anderson

Small business borrowers have become harder to come by. The demand for credit in the small business market has been relatively low and unpredictable. Small businesses aren’t necessarily going to their primary bank to receive credit when a need does arise. This creates a more competitive market place and a heightened need for institutions to optimize the credit experience for borrowers. While many institutions are working to create intuitive online and personal credit application processes...