Library, Sponsored

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

Podcasts, Sponsored

‘What fintechs have done right is understanding who their customer is, and building for them’: BlueVine’s Herman Man

  • There are 30 millions SMBs, and they create two thirds of the jobs in the US economy – who’s building for them?
  • BlueVine’s CPO Herman Man joins us on the Tearsheet Podcast to talk about the importance of customer-product fit, and what’s next for digital-first banking solutions and the fintech ecosystem.
BlueVine | January 19, 2022
Sponsored

How B2B fintech lenders can sharpen their analytics with external data to increase qualified leads

  • Many fintechs are addressing niche market segments with innovative solutions, like SMBs, which come with unique challenges.
  • In the second of this article series, we discuss how the data can be leveraged in generating leads and accelerating the sales pipeline.
Explorium | January 18, 2022
Blockchain and Crypto, Sponsored

Navigating cryptocurrency: Three areas of focus for financial institutions

  • Understanding what’s out there is a critical step to identifying how your financial institution fits into this emerging environment.
  • Education and awareness are key moving into 2022, especially in three key areas.
Fiserv | January 12, 2022
Sponsored, The Customer Effect

The increasing role of personalization in retail wealth management

  • In a recent survey by ThoughtLab and Publicis Sapient, 49% of investors put simple, intuitive digital experience as top priority – but only 18% are very satisfied with their current advisor’s digital experience.
  • With 44% of respondents planning to move their funds over the next 2 years, better personalization has never been more important.
Publicis Sapient | January 06, 2022
Blockchain and Crypto, Sponsored

Navigating cryptocurrency: Building on consumer trust with innovative technology

  • The significant market capitalization of cryptocurrency and its growing popularity are creating a strong movement to incorporate cryptocurrency into payments, investments and banking capabilities
  • As mainstream curiosity and interest in cryptocurrency increases, more companies are facing strategic decisions around how to accommodate the use and consumer demand of the new currencies
Fiserv | January 05, 2022
More Articles