Record numbers of small businesses and midsize companies in the U.S. are considering switching banks due to what they see as a lack of support from their banks during the COVID-19 crisis.
If these companies follow through, it will increase bank balances and put fees up for grabs. To win a share of this prize, commercial banks must be ready to start competing for this “money in motion,” return to pre-pandemic business practices, and resume in-person meetings with clients.
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