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Digital-First Banks Well-Positioned to Win Small Business Hearts and Minds


Traditional FIs are at risk of losing their business banking relationships — especially with smaller firms.

Doug Brown, president of NCR, told PYMNTS’ Karen Webster that the typical small and medium-sized business (SMB) owner “is really time starved. They  don’t have a lot of time for explanation and learning things” when it comes to banking. “They want it all to work – and work simply.”

And in a nod to how financial institutions (FIs) are faring in the bid to keep things simple — they’re coming up short.

Joint research from PYMNTS and NCR show that 41% of SMBs are interested in using banking services from a digital service provider.

“The takeaway,” Brown told Webster, “is that these consumers are not being fully served by digital banking.”


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