Small businesses and mid-sized companies that are not calling on bank relationship managers for high levels of personal service and advice on critical business and funding issues are missing out, according to new research from Greenwich Associates.
Although small businesses and middle market companies reported improved credit conditions in the first half of this year, they continued looking to their banks for help in navigating difficult business conditions.
In the years before the onset of the credit crisis, companies began relying on internet banking platforms to a never-before-seen-extent. In fact, by December 2009, both small businesses and mid-sized companies ranked their banks' internet platforms as having equal or greater importance than branch personnel in their interactions with their banks.
By a wide margin, companies in both segments now rank their relationship managers as their most important banking channel.
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