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BID Newsletters
Mar 27, 2024
Financial institutions dealt with economic uncertainty, higher interest rates, more expensive funding, lower loan demand, and concerns about credit quality in 2023. Yet they continued to grow loans overall. There are some indicators that the lending market could begin growing again. We discuss what factors would contribute to this change.
Mar 26, 2024
Small business customers have no shortage of financial service options, from traditional banks to fintech offerings. Fostering loyalty among this group not only requires providing them with added value, but with the sense that your CFI understands their individual businesses and their unique needs.
Mar 21, 2024
Providing added value for business customers can be as simple as sharing existing resources within your organization such as conference room space or wi-fi. We discuss some options of nontraditional benefits you can provide to help your small business customers.
Mar 5, 2024
Higher interest rates and the cost burden they impose are driving a cycle of deleveraging and cash conservation at many companies. Small business owners are balancing the need to offset higher interest expenses and lessened credit availability while also addressing competing demands for strategic growth. We provide tips for how CFIs can help their business customers align their capital with their strategic plans.
Jan 31, 2024
Federal authorities have issued an alert about a financial scam called “pig butchering", in which victims are lured into investing in phony schemes, often involving crypto currency. The losses can be significant. We provide tips on how to identify these scammers, if they contact you.
Jan 23, 2024
A new study from Capgemini shows that business customers are increasingly in need of help with cash management. We discuss the biggest cash flow challenges for businesses and what solutions CFIs can offer those customers.
Jan 8, 2024
Business banking is most CFIs’ bread and butter. But many businesses have more than one banking relationship. To become a customer’s primary provider, CFIs will have to develop the ability to provide full cash visibility, multibank reporting, and multibank transactions.
Dec 13, 2023
Business customers are switching financial institutions for a variety of reasons, but the new FI may end up being the same as the old FI — or worse. We detail the pros and cons that business customers weigh when they consider a switch — and what your CFI can do to make sure you’re the winner on either side of the equation.
Dec 7, 2023
According to a recent Salesforce study, customers want two things: help preparing for economic uncertainty and a personalized experience from their financial institutions. We provide tips on how to connect customers with the guidance they need.
Nov 28, 2023
When one thinks of open banking and third-party APIs, one tends to think of all the benefits for consumers. But CFIs could also leverage the technologies to better serve their small- and medium-sized business customers. We explore the possibilities of open banking, including what the financial sector in Europe has achieved so far.
Nov 27, 2023
At a time of economic uncertainty, businesses can use more help managing their money. CFIs are responding with new and expanding treasury management services. We provide examples of CFIs that have launched these services.
Oct 23, 2023
Gamification has been shown to increase productivity, enhance learning, and foster employee engagement. We discuss some applications of gamification in banking and how CFIs could incorporate these elements into their digital offerings to boost customer engagement.
Oct 17, 2023
When we think about credit card rates and perks, we tend to think of retail consumers, but credit cards are a vital tool for small businesses as well. We review the benefits of business credit cards and how those benefits can be used to entice businesses to apply.
Oct 11, 2023
Virtual account management technology solutions can help financial institutions speed up the process of opening business accounts, which can ordinarily take weeks. We review how CFIs can help their customers with these solutions.
Sep 13, 2023
Some of your commercial customers may struggle to manage their expenses and other bookkeeping duties, but you can help them with these tasks and offer more value. We highlight three examples of how some FIs are doing just that.
Sep 7, 2023
Many CFIs have invested substantial time, energy, and capital in improving the banking experience they offer to retail customers. Unfortunately, they haven’t paid the same attention to the business banking experience, says a recent study. A full 68% of respondents thought the digital features of business banking were lagging behind those for retail customers. Here’s how your CFI can take another look at the experience you offer, from a different perspective.
Jul 11, 2023
Small businesses form the backbone of not only the US economy but the client lists of many CFIs. But almost a third don’t think their banking institutions understand their needs. We look at some ways financial institutions can better support small businesses throughout their growth lifecycle.
Jun 20, 2023
The volatility of the foreign exchange rate market can be challenging on your small business customers that do business internationally. We explore FX forward contracts as an option you can offer to provide more certainty in this area, thereby increasing customer loyalty.
Jun 1, 2023
Following recent bank failures, there is a sense of unease in the industry and depositors may have concerns about the reliability of their institutions. We share four strategies CFIs can use to effectively communicate with their customers and alleviate their fears.
Mar 24, 2023
Helping business clients of every size is at the core of CFIs and their missions. CFIs have a little-known tool that can help their SMB clients: the employee retention credit (ERC). We break down what this refundable tax credit is, who may qualify, and how it can help your customers.