Celent Eyes Small Business Banking Technology Sector

NU Online News Service, May 6, 2003, 3:40 p.m. EDT – Twenty-one percent of small businesses will be banking online by 2005, thanks to improved technology, business owners’ increased comfort with the Internet and financial institutions’ growing interest in small business, concludes a new study by Celent Communications Inc., Boston.

Although banks often see the small business market as hard to reach, they are starting to realize the segment has great revenue potential, Celent says in a new study about technology vendors catering to the small business banking market.