Les Dinkin Featured at American Banker's Small Business Banking Conference

October 24, 2006

Baltimore, MD – Retail banks need to overhaul the branch sales and service model to serve the complete small business, but the effort is well worthwhile, Les Dinkin today told attendees at American Banker's Small Business Banking Conference.

A Managing Director at Novantas, Dinkin moderated a session on "Capturing the Total Small Business Wallet." Panelists included Robert Ash, a Senior Vice President at Wachovia Corp., and Cassius Priestly, a Senior Vice President at SunTrust Banks.

Dinkin noted that serving the complete small business – including the enterprise, proprietor and employees – is an unbeatable combination for customer retention and relationship profitability growth. Banks, however, often find it difficult to respond when important small business customer needs arise.

To make the most of the small business opportunity, Dinkin said, banks should take a two-pronged approach that includes: 1) designing the customer experience and delivery model; and 2) providing the right products and management system.

He explained that banks need to do a better job of coordinating branch staff and dedicated field reps so that the larger needs of small businesses are fully addressed – no matter how the customer interacts with the bank. Then, innovative product bundles are needed, staff must be trained and coached on how to present them within the context of customer needs, and the proper sales management activities and metrics are needed to support the initiative, Dinkin said.

"With a more disciplined approach, banks can look beyond individual transactions to address the complete range of small business needs," Dinkin said.

Novantas is the acknowledged leader in customer science and revenue strategy for the financial industries. The Firm specializes in applying advanced analytics and technologies to help clients make better decisions in marketing, product, pricing, customer management, and distribution.