This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
03/05/2023
Digital-First Banks Well-Positioned to Win Small Business Hearts and Minds
PYMNTS
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.”
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information