Small business
Quote of the month
“Current accounts do play an important role in small business banking, especially in new customer acquisition. Packaged accounts strategies are still valid, but only a limited number of well thought generalist products should exist with a clear and distinct value proposition for the customer, complemented by a few tactical products on which to build marketing campaigns.”
Renato Martini, Small Business Segment Manager at UniCredit
Overall issues
- Developing a new approach
There needs to be a segmented approach to the small business banking market. One important segment that bears further examination is the micro-business market. - Developing appropriate solutions
Banks need to focus on relationship pricing, product packages and bundling for small businesses – as well as value-added non banking services for this sector. - Developing a co-ordinated approach
This involves looking at ways of linking the small business approach with the single owner approach.
Efma studies
- "SME banking in Europe" by Finalta (February 2009)
- "The big business of small banking" by Oliver Wyman (October 2006)
Lessons from the most recent conference
"Small Business Banking – Keys to driving superior operational and profit performance", Milan, 15-16 May 2008 (www.efma.com/sme2008)
Best speaker:
Larry Selden, Professor at the Columbia University and Warton, USA
Best presentations:
- "SME banking in Europe – Key trends and emerging best practices"
Remus Brett, Director at Finalta, United Kingdom
- "Best practice relationship management – Eliminating variability in the sales process"
Cathal Muckian, Director, Business banking, Bank of Ireland, Ireland
- "Small business distribution strategy excellence"
Alberto Neaf, Head of customer segments and products HypoVereinsbank, Germany
Upcoming event
Efma Conference on "SME business banking" in Roma on Thursday 15 to Friday 16 April 2010 (www.efma.com/sme)
