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Research: SMBs are increasing their banking relationships because they’re not satisfied with any of them

  • Small and medium businesses aren't getting serviced like they would like.
  • So, they're searching for greener pastures and trying new banks.
Research: SMBs are increasing their banking relationships because they’re not satisfied with any of them

SMB pain points are up and their satisfaction with their banks down, according to new research.

The FIS 2019 Performance Against Customer Expectations Report found that the percentage of SMBs indicating they were extremely satisfied with their primary banking providers declined to 37 percent from 42 percent in the previous year’s study.

The PACE report is based on a survey of 586 small to midsize businesses in the United States and gives banks actionable insight into the challenges and opportunities in servicing the SMB community.

Here’s why it’s important:

 


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