When Small Businesses Add New Providers Are They Sharing the Relationship or Exiting? posted 02/03/2023







Featuring: Sandy Hanson & Rachel Ness, Barlow Research Associates, Inc.

About one in ten small businesses ($100K-<$10MM in sales) added a new financial provider in the last year, a figure that’s been consistent year over year. The typical reason for adding a new provider is for credit or a certain product. Many businesses add a provider to test them out before pulling the trigger on changing their primary bank, but is that always the case? Many traditional financial providers have been keeping an eye on fintechs, concerned over parts of the business they may be stealing away. However, customers who have added other traditional providers may be more at risk.

Join Barlow Research on Friday, February 3, 2023, as we discuss the characteristics of small businesses that add various sized providers as new relationships.

In this webcast you will learn:

  • Which size bank’s customers were most likely to have added another provider and what type of provider they added
  • How small businesses that added a fintech as a new provider feel about their primary bank
  • Why adding other traditional banks may be a bigger threat than adding fintechs

This discussion is designed for anyone involved in small business banking, relationship management, branch management, sales and sales management, marketing, market research, risk management or line of business strategy.

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