SMALL BUSINESS ADVANTAGE
Small business customers represent a hidden opportunity for financial services firms. They can be diamonds in the rough providing much more profitability than consumer accounts. OX2 Solutions helps banks, alternative lenders and insurers identify the small business potential in both their portfolios and footprint through our Small Business Advantage Services.
- Commercial Prospects within Your Consumer File (Consumer-to-Business Matching): We find 10% to 20% of the consumers in a retail file are also business owners or executives that do not have commercial accounts with that institution. These represent prospects for business services that have conversion rates over 4 times those of external prospects. OX2 Solutions is able to achieve industry best match rates because we have linked over 16 million business owners and executives to both their business and primary residence, also providing unprecedented insights into the owner's wealth.
- Commercial Cross-sell Opportunities (Business-to-Business Match and Append): By matching our unique demographics to your commercial file, we reveal up-sell and cross-sell opportunities that are many times easier to realize than the product potential of external prospects. Our unique demographics provide insights into wallet size (both deposit and loan), business life-cycle, cash flow, and more.
- External Prospects (Targeted Leads): Using our unique demographics as selectors, or your commercial file to develop Look-alike model reflecting your most profitable customers, we are able to assemble highly targeted populations that drive marketing efficiency while containing costs. OX2 Solutions can identify and prioritize the most likely candidates for depository, lending, or cash management services. Likewise, our demographics can be used to facilitate online application processes as well as other on-boarding activities.
- SBA Lending Opportunities (SBA Database): The SBA Database tracks every existing SBA 7(a) and 504 loan: originating institution, origination date, term, amount, borrower, etc. Running that data and the SBA loan requirements against our National Business Database, over 4 million small businesses have been scored and identified as being likely candidates for SBA loans capable of meeting the payment requirements. The database is available in whole or in part (including regular updates). The scores are also available as a selector or appended field on prospect lists.
- Wealth Management (Owners Wealth Database): Small business owners and executives are often overlooked as wealth prospects, especially those with assets of less than $500K involved in growing businesses. By linking over 16 million owners/executives to both their place of business and residence, we provide a 360 degree view of their wealth attributes and potential appetite for financial services. We also identify businesses not listed with ERISA, and therefor are candidates for 504K and other retirement plans.
- Small Business Bench-marking (Financial Profiles Database): We offer normative financial statements, both balance sheet and P&L, covering small businesses in five sales ranges up to $20 million in revenue, 900 industries, and across 3000 US counties (data can be generated at a national, state, or county level). This data is being used for underwriting, identifying the next best financial product to offer existing clients, and as conversation starters to entice prospects to meet with a lender, insurance agent, or financial advisor.
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