57.3 million Americans are self-employed or own a business with less than 5 employees.
Many of these professionals are hiding in personal banking accounts.
51% use personal banking accounts exclusively for their business transactions
33% use personal banking accounts exclusively for their business transactions
There’s a significant number of high-earning businesses in personal banking that could be migrated to business products and/or accounts.
11% are making $75,000+
6% are making more than $100,000
The cross-sell opportunity is lucrative
Based on account fees alone, banks could drive millions in top-line revenue growth.
Our research uncovered the market opportunity for the top 10 U.S. banks. Want to find out more?
Header image created using Creative Common assets from Pablo Stanley.