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Jun 20, 2017
Are you currently providing international services for your customers? The global market is growing and with small businesses making up 97% of all exporters, your customers will be growing too. Knowing how to support your business customers will deepen long-term customer relationships with an enhanced suite of services.
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Nov 2, 2022
Money management and forecasting are top concerns for small businesses. CFIs can help small business customers deal with those issues by offering regular feedback and suggestions for improvement, thus helping avert more serious problems later.
Jun 23, 2022
There are 32.5MM small businesses in the US, generating 44% of economic activity — an attractive opportunity for financial service providers of all sizes. CFIs have a strong connection with small business customers and could leverage their understanding of the customers’ unique needs in order to create compelling propositions for them. We give you four strategies to help get you off to a good start.
Mar 1, 2022
Looking for international business customers? You don’t need to look far. Many reside in your communities, but in places that you may not consider. According to JPMorgan Chase, 14% of SMBs plan on expanding beyond US borders in the next 3Ys. We uncover three places to find SMBs needing international services.
Jun 1, 2021
Your international business customers need to manage risk, both interest rate risk and foreign exchange risk. Educating them on hedging and how it can mitigate these risks will not only help your customers, but solidify your customer relationships and allow you to grow income. We walk you through a potential scenario with a customer as they invest in equipment built overseas and how hedging can provide predictability and mitigate risk.
Dec 8, 2022
Baby boomers are retiring at a rate of 10K per day, and along with those retirements will be a wave of small businesses passing on to younger generations. CFIs should identify small business customers likely to be impacted by baby boomer retirements and preemptively take steps to ensure those businesses will remain with their organizations long after their current owners have left the workforce.
Sep 21, 2022
Universal retirement benefit plans are on the horizon for many states in the US, with proposed congressional legislation meaning potentially big changes for small business customers. CFIs can aid those small business customers with preemptive educational offerings to help prepare them for what’s to come.
Apr 19, 2022
The switch from 6-digit to 8-digit BINs has been in the works since 2015. But now, the first deadline is here. Community financial institutions need to check on their accounting systems to determine if they are sufficiently prepared. Here are a few items to assess the impact on your institution and communicate with customers, especially business customers.
Apr 5, 2022
Cybersecurity is a constant concern. Yet, with the latest Russian cyber threats, it is becoming even more important. Your small business customers could be affected, directly and indirectly. So, we dig deeper to provide you with the current top threats and critical protective measures.
Mar 15, 2022
Ninety-five percent of text messages are read within three minutes. With consumers’ reliance on texting, it is no wonder that the latest payment option, text-to-pay, is gaining momentum. It gives users the ability to pay through a link on a text easily and quickly. Let’s see why your small business customers may start finding it attractive.
Sep 7, 2021
Digital account opening is not just for consumers. In fact, one community financial institution reported a 100% increase in the number of business customers using digital account openings during lockdown. This trend is expected to continue, especially among younger bank customers. Here are three steps to optimize the digital onboarding customer experience.
Aug 6, 2021
Do your business customers include artists? If not, you could be missing out on an opportunity. Reaching out to artists not only helps them, but also expands your business and solidifies your commitment to your community. We lay out five ways that you can support artists and generate business, including displaying artwork, sponsoring shows, and financing the development of “art communities.”
Jul 19, 2021
With the recent cyberattack on Kaseya, cyber concerns remain high among many businesses, especially small businesses. For good reason, as 43% of cyberattacks target small businesses. Community financial institutions may want to familiarize themselves with cyber insurance basics to help guide their business customers as more may turn to insurance to protect themselves. We provide four cyber insurance considerations.
Jun 2, 2021
The pandemic caused many things — a coin shortage was one of them. The residual effects of this shortage are still felt even today. We update you on what the Fed is doing, why coins are still important (even in this increasingly cashless economy), who loses out in a cashless society, and how community financial institutions can help their small business customers adapt.
Apr 21, 2021
The Paycheck Protection Program has been a lifesaver for many small businesses. With some recent changes, both your current business customers and new ones could still receive much-needed assistance. The program has been extended, proceeds have potentially increased for Schedule C filers, eligibility has been expanded, and new forms facilitate streamlined processing.
Apr 16, 2021
The cross-border payments market is valued at $21T and is growing at a 90% compound annual growth rate. This is one big reason to consider providing cross-border payments to your business customers. We have four more: small and medium businesses are engaging in more foreign trade, they trust their banks for help, you generate more fee income, and you can strengthen your relationship with your customers.
Mar 25, 2021
The WTO forecasts trade volumes will increase by 7.2% in 2021, bringing back robust global commerce. With that, community financial institutions will want to support their international business customers and trade finance is one way to do that. Not only does this help your customer, but your institution benefits as well with good returns, resilient assets, low defaults, and more.
Mar 11, 2021
As your small business customers expand to Canada, Mexico, and beyond, you will want to grow with them. If you provide international payment services, you can support them and gain valuable fee income. We map out what these customers are looking for in international payment solutions.
Jan 19, 2023
Supply chain financing had already gained speed prior to the pandemic, but activity has picked up substantially over the past two years. What CFIs should know about the rise in supply chain financing and why they may want to consider adding it into the fold.
Jan 10, 2023
Nimble neobanks have an edge in the world of digital banking. But CFIs have advantages in the real world of finance, stemming from their traditional, brick-and-mortar businesses. Those traditions can help level the playing field.