The Small Business Opportunity for Digital Banking (Aug. 13, 2014)
Financial institutions looking to attract and retain small business customers can do so by beefing up their digital banking services, according to a new white paper from Fiserv. The report found that mobile banking is on the rise among small businesses, with 35 percent using a smartphone for business banking, while 25 percent used a tablet. Those numbers are likely to rise, the report predicted, but to best serve the segment, banks need to provide services that meet the unique needs of small businesses. Key among those demands are: security and control; streamlined processes; tailored functionality; and reimagined user interface, according to Fiserv.
“Financial institutions that optimize their digital banking solutions for business users are best positioned to strengthen relationships with their customers and capitalize on growth opportunities,” said Teri Carstensen, division president, bank solutions, Fiserv.
