Library, Partner

Report: Building a winning small business bank

  • Small business want more from their banking relationships.
  • A new report shows how FIs serve new and existing SMB clients via technology partnerships.
close

Email a Friend

Report: Building a winning small business bank

Less than half (47%) of U.S. based small businesses believe their primary financial institution understands their needs. This general dissatisfaction is allowing new digital challengers to thrive. Companies like Square, Shopify, and Intuit are capitalizing on serving SMBs with digital products and services more closely aligned to their needs. 

autobooks white paper on building a winning small business bank

It doesn’t have to be this way. Despite many challenges, financial institutions can become well positioned to attract and service small businesses — more effectively than any fintech challenger actually can.

Autobooks recently analyzed a cohort of small businesses that bank with a partnering FI. In just nine months after being installed (in May of 2020), Autobooks usage increased steadily to 347%, as third-party usage decreased by 77%. As a result, corresponding deposits grew dramatically — to more than $3.5 million.

Autobooks shares a comprehensive report with the leadership team at partnering FIs once a year. This annual FI report highlights the performance of the Autobooks solution during the previous year, compares those results to a peer group of similarly sized FIs, and provides recommendations for improving performance and accountability in the year ahead

Building a Winning Small Business Bank: Inside the Autobooks FI Annual Report includes:

  • Data on the needs of modern small businesses and where FIs can effectively compete
  • Why facilitating payments is key to serving SMBs in today's market
  • A case study showing how an FI reclaimed primacy with Autobooks
  • A go to market plan FIs can use to bring fintech solutions to market

Download the white paper

0 comments on “Report: Building a winning small business bank”

Outlier OpinionsMakers

Partner, Podcasts

‘Getting the model right’: How Regional Finance balances customer-centricity and fraud prevention in digital lending

  • In this episode of the Tearsheet Podcast, Regional Finance explores credit modeling in the digital lending landscape, focusing on the balance between serving customers and preventing fraud.
  • We speak with Chris Martin, head of product management at the $1.5 billion consumer lender, and with Argyle's Matt Gomes, who leads the firm's data and tech efforts in banking and lending.
Zachary Miller | September 21, 2023
Partner, Payments

The opportunities and evolution of the consumerization of B2B payments

  • B2B payments are slowly but surely following in the footsteps of consumer payments, becoming faster and more secure.
  • Visa, with solutions like Visa B2B Connect, is leading the way in streamlining cross-border transactions and improving efficiency, enhancing the business payment experience.
Darren Parslow, Visa | September 18, 2023
Partner, Podcasts

Navigating the future of digital banking: A conversation with Deloitte’s Nick Cowell

  • Join Nick Cowell, Deloitte Partner, as he discusses the digital banking landscape in North America and how traditional banks are adapting to meet evolving consumer demands.
  • Explore the changing dynamics of the banking industry and learn about the rise of digital neobanks, evolving customer expectations, and the critical success factors for incumbent banks in a digital-first world.
Zachary Miller | September 14, 2023
Partner

Empowering people and connecting communities through remittances

  • The remittance industry has evolved, reaching $800 billion in 2022, benefiting immigrants and their families with near real-time, transparent transactions.
  • Digital remittances, supported by Visa Direct, offer cost-efficiency and financial inclusion, but infrastructure challenges in some regions persist, highlighting the need for wider participation in building global digital networks.
Visa | September 13, 2023
Partner

Temenos: How SaaS for BaaS is putting banks back in charge

  • Many incumbent financial institutions fail to capture the BaaS opportunity, because of constraints imposed by their legacy monolithic IT architectures.
  • Temenos’ open platform for composable banking caters to an array of use cases. From product engines and financial crime, to payments and origination that enables banks or license holders to not only run their own business but also provide BaaS to brands with the same underlying platform.
Temenos | September 12, 2023
More Articles