Bank managers and small businesses

My last post on digital disruption in banking prompted some very interesting feedback in the context of small businesses. The point that was made was around the importance of bank managers to small businesses and how badly those businesses have been affected by the loss of their local manager and his replacement with a remote, faceless individual who knew nothing about the business concerned.

When they existed, local managers visited their business customers and took time to understand the business and the people behind it and could therefore take a pragmatic view on the viability of a business when it comes to lending, rather than just rely on an automated credit score.

If Williams & Glyn is going to take this approach with their small business customers then perhaps they really are on to something.