According to Aite Group, 53 percent of banks it surveyed for commercial online banking support are noticing greater retention rates after migrating the small-business clients to a business-banking platform from a retail consumer-oriented solution. This underscores the growing trend toward specializing services for the small business market; 65 percent of that segment plans to actively use such services by the end of the year.

In the survey of 16 of the nation’s top 50 banks this summer, Aite reports that 81 percent of large bankers feel their small-business customers are placing a high amount of trust in online banking, compared to just 33 percent two years ago. Banks are also seeing a greater number of both products (50 percent) and advanced online capabilities (47 percent) used as a result of migration.

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