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A New Report from Aite Group |
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Boston, MA, May 14, 2007
– A new report from Aite Group, LLC explores the cash management needs of middle market companies and examines which banks have been the most successful at serving them.
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The report, based on a survey of 200 U.S. middle market companies (defined as those businesses generating between US$50 million and
US$500 million in annual revenues), identifies customer service and online cash management capabilities as the key factors middle market companies consider when selecting a
bank. Many of these businesses require their banks to offer cash concentration, positive pay and foreign exchange- online capabilities that most U.S. banks do not yet
offer. Because of this, the biggest banks have been most successful in capturing this attractive market segment, which tends to use multiple bank products and is generally
more loyal than larger businesses. This could change going forward as all banks, regardless of size are dedicating more resources than ever before to business banking initiatives.
"Despite their attractiveness, it has been primarily the largest banks that are enjoying the benefits of serving the middle market business segment," says
Christine Barry, research director at Aite Group and author of this report. "While
the cash management offerings of many banks do not scale or offer the necessary level of functionality depth to meet the needs of the largest corporations, enhancing their
solutions to serve the middle market is within their means. Thanks to advances in technology, the necessary enhancements are readily accessible."
This 18-page Impact Note contains 11 figures and tables. Clients of Aite Group's Wholesale Banking services can download the report by clicking on the
icon to the right.
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To purchase this report or
for additional information,
please contact:
Aite Group Sales
Tel: +1.617.338.6050
sales@aitegroup.com |
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