|By PR Newswire||
|January 7, 2014 11:24 AM EST||
BOSTON, Jan. 7, 2014 /PRNewswire/ -- ath Power Consulting, a leading financial services research and strategy firm, today announced the results of The ath Power Small Business Banking Study™, which annually assesses small business banking customer experience at banks, nationwide. This year, the top performing banks were Bank of the West, Associated Bank and Chase. The average ranking on overall customer experience was 71 out of a possible 100 points, a decline from last year's average of 74.
"While overall scores have decreased, the nation's largest banks achieved their highest scores since the study began," said Frank Aloi, CEO, ath Power. "This demonstrates their increased efforts to acquire the highly coveted small business customer."
Based on more than 800 in-person branch visits by prospective Small Business Owners (SBOs) at banks across the U.S.,The ath Power Small Business Banking Study™ revealed what small business clients expect from their banking relationship, gaps in the service experience and how banks measured up in this all-important market segment.
A significant finding from this year's study was the impact of a bank's mobile banking offering. Sixty-six percent of SBOs said they would be likely to switch banks for one with a superior mobile offering. Conversely, despite its growing prevalence and importance to SBOs, 37% of bankers in the study failed to even mention their bank's mobile offering.
"Mobile represents opportunities and challenges for banks to attract and retain small business clientele," said Aloi. "Banks with mobile offerings tailored specifically for small business will achieve success by delivering differentiated features and functionality not available in standard mobile banking services."
Results also revealed that bankers from the highest rated banks were significantly better at determining needs and building rapport with prospective customers. Of those SBOs who reported that the banker built a rapport with them, 91% said they would become a customer compared to 28% of those who did not.
"Personal connections remain critical for banks seeking to acquire new small business customers," Aloi said. "The most successful institutions are training bankers on how to build rapport and then using applicable research and coaching to continuously improve."
The study further uncovered missed opportunities for sales, as only about half (52%) of the SBOs were actually asked to open an account during their visit to the bank.
Regionally, the top rated banks in this year's study were:
- West: Bank of the West, US Bank, Citibank
- Midwest: Comerica, Chase, Associated Bank
- South: Chase, Comerica, Wells Fargo
- Mid-Atlantic: Citibank, Wells Fargo, SunTrust Bank
- Northeast: PNC Bank, M&T Bank, RBS Citizens
About the Study
Now in its sixth year, The ath Power Small Business Banking Study™ is a detailed assessment of the sales and service processes, product and service offerings, delivery methods and customer experiences of the nation's premier institutions within the small business banking target market. Visit www.athpower.com/home/smallbusinessbanking.php to learn more or order this report.
About ath Power Consulting
ath Power is a premier provider of customer experience solutions for the financial services industry, offering competitive intelligence, survey research, mystery shop study, compliance auditing, market analyses, employee training and development, and strategic consulting. Since 1997, ath Power has helped improve customer retention, build brand loyalty, ensure compliance and increase profitability, performance and market share for financial services organizations across North America. To learn more, please visit www.athpower.com.
ath Power Consulting
978-474-6464, extension 107
SOURCE ath Power Consulting
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Mar. 24, 2017 10:00 PM EDT Reads: 1,503
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
Mar. 24, 2017 10:00 PM EDT Reads: 1,853
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
Mar. 24, 2017 08:15 PM EDT Reads: 246
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Mar. 24, 2017 06:30 PM EDT Reads: 2,604
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
Mar. 24, 2017 06:30 PM EDT Reads: 4,105
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
Mar. 24, 2017 05:30 PM EDT Reads: 375
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Mar. 24, 2017 05:15 PM EDT Reads: 1,290
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Mar. 24, 2017 04:45 PM EDT Reads: 1,765
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
Mar. 24, 2017 04:30 PM EDT Reads: 2,257
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Mar. 24, 2017 04:30 PM EDT Reads: 1,031
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Mar. 24, 2017 04:30 PM EDT Reads: 508
VeriStor Systems has announced that CRN has named VeriStor to its 2017 Managed Service Provider (MSP) 500 list in the Elite 150 category. This annual list recognizes North American solution providers with cutting-edge approaches to delivering managed services. Their offerings help companies navigate the complex and ever-changing landscape of IT, improve operational efficiencies, and maximize their return on IT investments. In today’s fast-paced business environments, MSPs play an important role...
Mar. 24, 2017 03:00 PM EDT Reads: 2,109
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Mar. 24, 2017 02:45 PM EDT Reads: 2,546
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
Mar. 24, 2017 01:30 PM EDT Reads: 1,543
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
Mar. 24, 2017 01:15 PM EDT Reads: 3,844