A Strategic Framework for Selecting a Small-Business Digital Banking Platform
- Date:April 07, 2022
- Author(s):
- Ian Benton
- Report Details: 24 pages, 6 graphics
- Research Topic(s):
- Small Business
- PAID CONTENT
Overview
An upcoming Javelin Strategy & Research scorecard will evaluate digital banking vendors, which will be integral to the success of banks’ overhauled approaches in that space. This report is the first in a two-part Javelin evaluation of the landscape for small-business digital banking solutions. It provides a strategic framework FIs can use to prioritize their requirements, narrow their list of providers, and make informed decisions that will enable them to attract and serve business customers from sole proprietors to midmarket firms.
The stakes are nothing less than banks’ ability to survive and thrive in the coming decade. Rising non-bank companies (Square, Intuit, PayPal, Stripe, to name just a few) are encroaching on banks’ turf in traditional banking functions and payments, to the point that they cannot be ignored. Javelin’s evaluations, concentrated on broad categories and core competencies, will help banks as they map their futures.
Companies Mentioned:
American Express,Bank of America, BlueVine, Brex, Chase, Intuit, Kabbage, nCino, PayPal, Shopify, Square, Stripe, Wells Fargo, Zelle for Business (Early Warning Services)
Learn More About This Report & Javelin
Related content
Tap to Pay Brings Mobile Payment Acceptance to the Banking App
Chase and TD Bank are blazing the trail for financial institutions to build mobile tap-to-pay technology into their banking apps to enable microbusinesses, sole proprietors, and fr...
Mapping Out the Generative AI Future at Three Large Fintechs
Over the past five years, Javelin Strategy & Research has persistently raised the alarm about the escalating influence of three dominant fintech platforms—Intuit, Block, and PayPal...
Customer Service Upgraded: Four Ways Digital Can Make Small-Business Banking Human Again
For small-business owners, banking is not just a series of transactions but also a pivotal part of their long-term business strategy and growth. They seek a banking partner that un...
Make informed decisions in a digital financial world