‘Traditional banks have equated advising with cross-selling’: Grasshopper’s Danielle Kane on why just 7% of SMBs see banks as trusted advisors
Banks have long focused on competing for small business accounts through interest rates, fees, and rewards programs, treating the relationship as transactional from the outset. Relying on this approach alone is now losing ground. New research from Grasshopper Bank reveals that…
Banks have long focused on competing for small business accounts through interest rates, fees, and rewards programs, treating the relationship as transactional from the outset. Relying on this approach alone is now losing ground. New research from Grasshopper Bank reveals that…
BELLINGS Intelligence Score: 10
Why it matters
This is a commentary on traditional banks' advisory approach to SMBs, reflecting ongoing industry perceptions rather than a new or market-moving development.
Sources
Tearsheet
‘Traditional banks have equated advising with cross-selling’: Grasshopper’s Danielle Kane on why just 7% of SMBs see banks as trusted advisors
Banks have long focused on competing for small business accounts through interest rates, fees, and rewards programs, treating the relationship as transactional from the outset. Relying on this approach alone is now losing ground. New research from Grasshopper Bank reveals that…