Through the tumultuous past two years, much has changed in the financial-services industry. But the banking and payments priorities of small businesses have changed little: They need help getting paid, processing cash and currency, making purchases, paying suppliers and vendors, funding expansion, saving for a rainy day, and running their operations efficiently. Banks will succeed over the next decade and remain relevant against increasing nonbank competition if they can build a personalized, omnichannel experience that helps solve those issues for their small-business clients. Ultimately, banks should look to expand their purview beyond what has traditionally sat in small-business online and mobile banking and become a hub through which businesses can monitor and manage their entire financial lives.

In this 2022 Trends and Predictions report, Javelin outlines three key areas financial-services providers should monitor and prioritize in the coming year to achieve that goal: the consolidation of B2B spending tools under one roof, the shifting competitive landscape for accounting tools, and the entrance of Amazon into the point-of-sale payment acceptance space.