2020 Small Business Banking & Payments Trends
- Date:December 03, 2019
- Author(s):
- Ian Benton
- Report Details: 8 pages, 1 graphics
- Research Topic(s):
- Small Business
- Digital Banking
- PAID CONTENT
Overview
Over the past decade, the number of banking and payments options available to business owners has expanded tremendously, fueled by the entry of fintech and Silicon Valley players into small-business lending, point-of-sale solutions, payments, expense management, and recently credit cards and checking accounts. As the new decade approaches, banks will be entering a highly competitive environment that will require them to be innovative, while maintaining and leveraging their traditional strengths: financial expertise, and the ability to build a long-term, trust-based relationship with business clients.
In “2020 Small-Business Banking & Payments Trends,” Javelin outlines three key areas bankers should consider to be key priorities in the coming year: electronic payments, serving the expanding freelance and self-employed market, and digital account opening for business products.
Learn More About This Report & Javelin
Related content
2025 Small Business Banking Trends
It would be impossible to discuss the major trends in business banking for 2025 without highlighting cash-flow tools, generative AI, and real-time payments. Javelin Strategy & Rese...
Identifying ‘Killer Use Cases’ in Small-Business Instant Payments
Instant payments are proliferating, and business bankers are searching for a set of “killer use cases” to drive widespread adoption. Many businesses are experimenting with instant ...
Credit Unions in Business Banking Part 2: The Path to Digital Maturity
Credit unions setting their sights on small-business banking face many obstacles, including the need to upgrade digital banking to serve the money management and financial health n...
Make informed decisions in a digital financial world