Javelin’s 2022 Small Business Digital Banking Vendor Scorecard evaluates six vendors with products aimed at banks and credit unions servicing small businesses, a segment vital to their survival and where they face significant competitive headwinds. The vendors are rated across three major categories, from user experience to administration to strategic vision, and were assessed based on 380 features and functionalities.

Q2 was the overall winner with its single-platform approach to digital business banking, allowing client FIs to make their own decisions about the products and services they offer to their business customers. Apiture and NCR followed close behind in the top tier of vendors, and the field was defined overall by a shrinking gap between the leaders and the laggards as commoditization takes hold in the industry.

Key questions discussed in this report:

• What criteria should banks and credit unions use to evaluate digital banking vendors?
• Which vendors are leading the way in terms of features and functionality, banker-facing tools, and strategic direction?
• What feature and UX best practices can FIs learn from market-leading vendors?
• What are the strengths and opportunities for improvement of each vendor?
   

Companies Mentioned:

Access Softek, Apiture, Autobooks, CSI, Current, FIS, Glia, Moxo, nCino, NCR, PayPal, Q2, QuickBooks, Revation, Shopify, Square, Terafina, The Clearing House, Varo, Zelle