3
This mass migration to external platforms
hurts both parties. Not only do SMBs
miss out on a more holistic and integrated
experience with their main source of financial
insights, banks miss out on the opportunity
to deepen their SMB relationships,
encourage engagement, and introduce new
avenues of growth and financial products.
Banks and other financial institutions must
act now to save these years-in-the-making
relationships before they're lost to third
parties–and to do so, they need a solution
that delivers value beyond the competition: a
solution that offers both SMBs and financial
institutions the data, technology, and tools
needed to grow now and for years to come.
Online banking platforms,
fintech lenders, cloud-based
payroll, accounting, and cashflow
solutions have significant benefits
for SMBs. New digital products
for SMBs by platforms and
brands, which disintermediate
the traditional financial players,
are being built using "embedded
fintech" software providers.
3
1
BAI.org
2
PYMNTS.COM
3
CoverWallet
